Member Info for zoros

Wish there was an AGM for this forum. We could all vote everyone off the forum and introduce a new breed of solg investors. Like Solg, this board needs a fresh overhaul.
Z

Bubble please try hard to say something constructive rather than the same old same old day after day month after month, year after year ffs!
Z

Hi Redirons.....The DFS is out(forecast) during Q4/22. This is a major milestone for a host of reasons:
Much more accurate assessment of the economics/technology/plan/costs from +-25% accuracy for the PFS, to +-5% for the FS.
Decision time to go mega mining underground as a JV.
Major update of the resource.
Producing the FS is not cheap but as we see - NCM will be paying for it ;)
The market likes it because it is a serious intent to proceed and the SP should move north if the DFS delivers.
However, I am hopeful that the MRE2 in Q1/22 will please a host of 'players' and this too should uplift the SP. Brokers are suggesting around 25p all being well but of course this doesn't take any other finds or mega results from Hav/regionals into account.
2022 is shaping up to be very busy year and possibly the final hurdle before unlocking the prize we have all been patiently waiting for. Lots of good news over the next 12 months, to be sure!

Meanwhile a small reminder:

Q4/21. 24 Assays pending.
26/11/21. Firetower/Warrentinna mining rights expire.
09/12/21. NCM Interim report.
09/12/21. GGP RNS (Exploration and development update)
12/21. Option period to buy 5% commences (deadline: 12/22).
12/21. GDXJ quarterly rebalance
14/12/21. GGP AGM.
12/21. Option for NCM to take over management @ Juri JV.
H2/21. Drilling programme commences – Rudall.

Enjoy
Z

TheSlug (suits you by the way)....next you'll be telling us a) Covid was leaked from a chinese lab and b) you're an anti vaxxer. You have lost the plot, haven't you d i ck for brains?
Z

CD - read the fecking post. Get a grip. I was commenting on what other boards are up to. FFS.
We're eating our own now...........................
Z

Oh and from me:

Redknight, you mentioned my Roadmap earlier this afternoon. I have stopped doing it now because of all the bile and vitreol on this forum. The whole thing has turned sour for me (Bulletin board and company board) and as soon as I make any profit, I am out of here.

I am sure several on here are glad to hear that.

Z

From the advfn board:

".....NM has a lot of skin in the game. They will not be supporting activity which permanently removes shareholder value. SOLG have been in a difficult position with Alpala since last year. The Crux report was clearly highly accurate and surprised Nick and the BOD. They could have admitted the problem - our core asset is not economic - or they could kick the can down the road hoping Tandy / Aguinaga would save them. They kicked the can down the road but results for Tandy / Aguinaga have not yet saved them, they need more time. In the meantime, they target the other assets and hope for a major discovery. Only Rio is likely to fit that bill.

At some point next year, they will publish a PFS with Tandy / Aguinaga helping to support it financially. Unless mineral prices advance considerably, I suspect the IRR will still disappoint. They may be able to sell Cascabel before this or they may still be able to attract a partner but it will not produce the bumper payout investors expect. Perhaps Porvenir and Rio will be advanced to a point this won't matter. In any case, I think NM is in damage limitation mode and trying to fend of BHP until a better picture can be painted for Cascabel / Rio / Porvenir. If it was all to be revealed today, the SP impact could be dramatic...."

Z

Over on CGP, their latest RNS:

"...OTTAWA, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (OTC:CTNXF) (FWB:GWN1) wishes to provide an update regarding progress of the Pre-Feasibility Study ("PFS") with respect to the Cascabel project in northern Ecuador.

Cornerstone has been informed by joint venture partner and project operator SolGold Plc that with the recent appointment of new SolGold CEO and Managing Director Darryl Cuzzubbo effective December 1, 2021, SolGold has determined to delay the release of the PFS. This will enable confirmation of various assumptions impacting the PFS, including whether what are currently considered as upside options should in fact be further evaluated and incorporated as part of the PFS base case so as to provide a more indicative and robust value of the Cascabel project. Upside options under review include earlier underground access, mine and mill optimizations, extending Cascabel Resources, hydroelectric power, among others, offering further optionality and potential for improved economics.

Subject to the determination on the above assumptions, the PFS is well progressed and SolGold anticipates that it will support its management’s expectations of a robust and prospective project.

An update on when the PFS is expected to be completed will be provided at the upcoming SolGold AGM on December 15th 2021..."
Z

Has upset all the markets today.
https://shareprices.com/sectors/mining

ouch!
Z

You're one of the good ones Spy...we all know that but...really...were you thinking at all when you wrote that?
Might a teeny weeny apology not go amiss....just a small one even?
;)
Z

That went down well with the 70% of PI holders who are in the red Spy...nice one.
Z

Yes, but apart from this Bamps......what have GGP done for us eh?

Z

I forgot to mention WI reads this board too.
Z

Slug, you talk ******.
PI's hold a significant chunk of Solg. I'm also in GGP and they hold 80% of the company.
We held particular sway during the ousting meeting of NM.
Two - it is illegal to hold JORC results back, for instance .
Three - The discussion as to whether the BoD read this forum was put to bed years ago - before you cut your teeth on Solg. They did then and they do now.

Too late to dissect the rest of your rubbish.
Z

What did your email say Ned?
Z

Results could build on the success at other regional projects including Porvenir
SOLG’s application of its proven exploration blueprint has returned solid
results to date through systematic evaluation of regional projects whilst
advancing Alpala towards development. The Porvenir project has also shown
open-pit potential with mineralisation from surface and a high-grade ~1%
CuEq core. SOLG’s geology teams are advancing in-house resource estimation
models, building towards a maiden Mineral Resource Estimate (MRE) at the
Cacharposa target within Porvenir.
Valuation: GBp105 target price implies 357% upside
We continue to base our valuation on a 30Mtpa block cave operation
commencing in 2028E with an 8% WACC, US$8,500/t copper price and
US$1,850/oz gold price. We are yet to factor in the tangible value optimisations
such as TAM could provide to Alpala, offering significant further upside beyond
our SOTP valuation. We include a conservative US$75m for SOLG’s regional
exploration beyond the Cascabel licence, which could also yield a potential
maiden MRE at Porvenir and further encouraging results at Rio Amarillo. The
key catalyst for SOLG is the now delayed completion of the Alpala PFS; the
Company has guided that a revised timeline for the PFS will be provided at the
upcoming AGM on December 15th.

END

Z

2nd NOTE: RIO results

SolGold (“SOLG”) has published the first partial assay results from its drilling
programme at the Varela target on the Rio Amarillo concession, 35km from the
flagship Cascabel project. Hole 1 has been assayed to a depth of 1,052m,
revealing an intercept of 72m @ 2.16 g/t Au from 639.7m, including 24m @
5.77 g/t Au. More interestingly assay results are pending from 1,052m to
1,708.1m (EOH) where free gold and porphyry mineralisation have been
identified. Intersections of porphyry style mineralisation within the first hole at
Rio Amarillo is very encouraging (and the best results are potentially still to
come) with the geology suggesting the hole passed along the periphery of a
vertically extensive Au-Cu-Mo porphyry. Hole 2 moves 300m NE towards the
interpreted core.
Hole 2 targeting primary area of mineralisation at surface
Access to the main target area where Hole 2, currently at 430m depth, is
drilling was delayed due to extreme topography. The hole is testing the
subsurface of outcropping porphyry style vein stockworks which returned a
promising 99m @ 0.29 g/t Au, 0.09% Cu & 38.7ppm Mo from surface rock-saw
channel sampling, including 25.17m @ 0.61 g/t Au, 0.12% Cu & 85ppm Mo. We
believe this hole is more likely to intersect the core of the porphyry system
encountered in Hole 1, but vectoring into the target could take time. The system
exhibits classic signatures of a large scale strongly mineralised porphyry (Au-
Cu-Mo) system, with a preserved porphyry lithocap and hydrothermal
alteration system supported with the full suite of porphyry plume chemical
elements. Geologically consistent with Alpala, which sits just 35km away, we
believe further results from the drill bit could reveal another exciting addition
to SOLG’s project pipeline.

cont'd

TAM could bring forward production through open pit mining at Cascabel
The maiden TAM MRE, combined with visually positive subsequent drill holes,
demonstrate TAM’s ability to provide additional metal inventory, including
from surface, to Alpala, which currently boasts 2,663Mt at 0.53% CuEq M&I
Resources for 9.9Mt Cu, 21.7Moz Au and 92.2Moz Ag contained metal. Total
Mineral Resources have been estimated at TAM of 233Mt @ 0.33% CuEq
(containing 0.53Mt Cu and 1.2Moz Au) in Indicated and a further 197Mt @
0.39% CuEq (containing 0.52Mt Cu and 1.24Moz Au) in Inferred. With the PFS
delay, TAM could be brought into the upcoming Alpala PFS mine plan,
providing a significant boost to the value of the Cascabel license. Open pit
mining could even allow production to be brought forward several years from
H&Pe 2028, potentially unlocking upwards of US$500m in NPV.
Regional drive continues - maiden MRE from Porvenir on the horizon
SOLG’s application of its proven exploration blueprint has returned solid results
to date through systematic evaluation of regional projects whilst advancing
Alpala towards development. The Porvenir project has also shown open-pit
potential with mineralisation from surface and a high-grade ~1% CuEq core.
SOLG’s geology teams are advancing in-house resource estimation models,
building towards a maiden MRE at the Cacharposa target within Porvenir.
Valuation: GBp105 target price implies 320% upside
We continue to base our valuation on a 30Mtpa block cave operation
commencing in 2028E with an 8% WACC, US$8,500/t copper price and
US$1,850/oz gold price. We are yet to factor in the tangible value optimisations
such as TAM could provide to Alpala, offering significant further upside beyond
our SOTP valuation. The key upcoming catalysts are a positive AGM on
December 15th and eventual completion of the Alpala PFS. We include a
conservative US$75m for SOLG’s regional exploration beyond the Cascabel
licence, which could also yield a potential maiden MRE at Porvenir.

END of first note.
Z

Short-term frustration, long-term value realisation
Given the backdrop of a new CEO, key input decisions such as inclusion of TAM
into the PFS and a crucial upcoming AGM on 15th December, we view the delay
of the PFS as prudent. SOLG now has the chance to assess and potentially
incorporate several upside scenarios including earlier underground access
(likely via a shaft to access high-grade ore and act as infrastructure to the
eventual block cave), mine and mill optimisations, extending Cascabel
Resources (through additional drilling and incorporation of TAM) and
hydroelectric power amongst others. Mr Cuzzubbo’s mega-project experience as
President of BHP’s Olympic Dam (the world’s fourth-largest copper, largest
uranium and fifth-largest gold deposit, producing ~171kt Cu in 2020) places
SOLG in a solid position to assess the development paths and maximise
optionality as well as economics, whilst mitigating potential development risks.

cont'd

First Note: Delayed PFS

SolGold (“SOLG”) has announced a further delay to the Cascabel pre-feasibility
study (PFS). A revised timetable for completion of the study is expected to be
provided at the upcoming AGM on 15th December 2021. Whilst another delay
may generate negative market sentiment, we believe the potential for slippage
has already largely been priced in, with shares down ~28% year-to-date.
Indeed, we see no impact on our valuation for Cascabel at this stage, while
optimisations may, ultimately, improve it. We believe key aspects for realising
the upside value at Cascabel are falling into place , including a mega-project
savvy CEO starting 1st Dec, and a maiden Mineral Resource Estimate (“MRE”)
recently declared at Tandayama-America (“TAM”), which sits within the
Cascabel licence, 3km from Alpala, with near-surface, potential starter pit
mineralisation. We continue to view the current H&Pe P/NAV of 0.24x as an
attractive entry point into an advancing world-class copper asset. Separately, we
note SOLG’s announcement of an Exploration Investment Protection
Agreement for Cascabel, underlining the government’s support for the project.

cont'd......