Solgold Share Discussion Threads

[lefrene] 04/11/2016 12:06

Thank you for that effort Billthebank.

[billthebank] 04/11/2016 10:54

And lastly courtesy of KB007 on LSE

“The surrounding targets at Aguinaga, for example, are reminiscent of some of the great porphyry clusters in Chile, and the project has been likened to the great Chuquicamata cluster by geologists from a number of the world’s largest mining houses,” he added.

With mineralisation identified to a depth of at least 1.8km so far, Mather said the configuration of the deposit was perfectly suited to block caving.

“That’s why Newcrest likes it,” he said.

“They are one of the world’s leaders and mine over 2 million ounces per annum largely from Cadia Valley where the grades are lower than bulk grades at Alpala.”

SolGold executive director Nick Mather
Mather said the capital costs of block caving at Alpala would be partially offset by the advantage of available infrastructure, and that in comparison to high Andean porphyries in Chile, SolGold would not have to invest large capital in roads, water pipelines, desalination plants or a dedicated power station.

“It’s all there courtesy of the huge infrastructure investments by Ecuador, funded by past oil revenues,” he said.

“Ultimately we believe the project will likely be developed as an underground block cave, at the end of a twin 6km long decline from near San Pedro village.”

Despite subdued conditions on the equities markets this year, SolGold attracted keen interest in two capital raisings and has been significantly rerated, with its market capitalisation rising more than ten-fold in four months from US$40 million to almost US$500m.

[billthebank] 04/11/2016 10:50

The emerging top tier character of SolGold’s Cascabel copper-gold project in Ecuador has been demonstrated by the attention from major mining houses keen to take a stake in the company.

Following a US$33 million financing deal with Maxit Capital and Newcrest Mining in October (which easily beat a rival earn-in offer from BHP Billiton), SolGold has amassed a US$44m treasury to conduct a comprehensive, two-year drilling program at Cascabel to follow up on world-class intersections.

The project lies in the northern portion of the Andean copper belt in Ecuador, renowned for hosting almost half the world’s copper production.

Results from initial drilling at the Alpala Central prospect have been so promising – showing high-grade copper-gold mineralisation over 1km long in five intersections – that the potential for a greater deposit has pushed out timing for a maiden resource on Alpala.

“Drill hole CSD-14-009 for example, returned one of the best results in the history of mineral exploration,” SolGold executive director Nick Mather said.
“It had 1,088m grading 0.66% copper and 0.89 g/t gold for 1.48% copper equivalent.”
He likens the result to drilling from Newcrest Mining/Harmony Gold’s joint venture at the world-class porphyry Wafi-Golpu deposit in Papua New Guinea, where one intersection of 1,421.5m had 1.14% copper and 0.64/t gold for 1.65% copper equivalent.
Alpala also compares well with results from the high-grade Oyu Tolgoi copper-gold project in Mongolia, discovered by Ivanhoe Mines and being developed by Rio Tinto and partners, where one of the larger mineralised intersections of 426m had 2.16% copper and 0.67g/t gold for 2.59% copper equivalent.
SolGold's drilling results compare well with other major projects
Of the 18 initial drill holes at Alpala for 23,700m, 16 hit the deposit and five delivered world-class intersections over 1km long, grading over 1% copper equivalent (cu-eq).
Mather, who along with board and management holds a significant stake in the company, said the Cascabel project would emerge as one of “the world’s outstanding copper-gold mines” thanks to its scale, grade, supportive regulatory environment, excellent infrastructure and experienced team behind it.
The company’s market capitalisation has skyrocketed in recent months but to understand how SolGold deliberately set about finding its world-class deposit, Mather takes Mining Journal readers back to the company’s beginnings in the Solomon Islands, operating in what he described as a primitive regulatory framework and an aggressive and dynamic physical environment on very steep terrain, “dominated by rainfall measured in metres and the risk of big landslides and flash floods.” The geology didn’t work either – the system wasn’t oxidised enough so the grades were too low.
“We took that knowledge and experience to the gold rich norther

[hazl] 04/11/2016 10:43

I can feel the enthusiasm....let's hope for the best.

[billthebank] 04/11/2016 10:39

Someone is loading up here There are buys going through at the rate of 350k shares. The people who are selling now are clearly taking their profits and why not? For me Nick Mather isnt buying nor is he selling and he has shed loads of these. I am not selling until these hit £1 as I am confident in the management and Cacabel. In addition Rosseau Asset Management are buying plus and this is my opinion only at least one other, I agree re the 30p comment I also thought this would happen this week but it will happen and that is the point and more besides. Read the article on SOLG in The Mining Journal It is quite ebullient to say the least!!!

[mam fach] 04/11/2016 10:19

Very true . Share prices on aim defy logic.
Would be extremely happy to be proven wrong.

[smoothtrader] 04/11/2016 09:46

Trading on AIM..has no logic and so the can share price can take whichever turn it likes.often steered by the MM's

[brahmsnliszt] 04/11/2016 09:34

im very happy with the way the share price has been holding. Not just holding but with some decent buys going through too. Sellers possibly profit takers looking to lighten up ahead of the election.
Personally think SOLG is not one to lighten up on and not to trade considering the size of the deposits that we believe is sitting underneath the surface.
For me its buy on dip .... and buy on rally too :-)
The risk here for me is not US elections but 1. the find isn't as impressive as first thought and 2. political uncertainty in Ecuador - both of which is low for me. But lets see.

[mam fach] 04/11/2016 08:57

Think you are being over ambitious to expect over 30p. Doing well to hold @ 27-28p. Don't think it will break 30p before nxt RNS.Then the sky's the limit.

[cool hand kev] 04/11/2016 08:47

I don't think that it can break 30 (until news)as it's had a few attempts

[spacedust] 04/11/2016 08:31

Thought this would be 30p plus this week

[the count of monte_cristo] 03/11/2016 14:10

Worth a watch:)

[lefrene] 03/11/2016 13:27

Perhaps that buyer feels that £400 million for a resource that could contain tens of $ billions of metal is worth taking a position in. Just have to wait for those reports to come in and then a listing on the Toronto exchange. The risks are a collapse in metal prices or local political unrest.

[billthebank] 03/11/2016 12:44

At least one large buyer out there IMO and that is why the share price is not retreating

[hazl] 03/11/2016 12:39

I think SOLG must have something special because it doesn't seem to want to retreat.

IMO

[mam fach] 03/11/2016 11:26

Pleased this is keeping @ 28 p. No frenzy on BB or trading.
Think long term holders are happy to hold.
Potential is enormous. Next RNS will be crucial.
Don't believe who wins US election will have any bearing on things.

[cuthbert cuthbertson senior] 03/11/2016 10:54

don't be a chump put your money on trump

[brahmsnliszt] 03/11/2016 10:53

I haven't been so much in cash as I am now for a long long time. Liquidated most of my pf this last week. Have always believed Trump will win. Could be proven wrong yet however but feel he will do it.

SOLG however is one of two stocks I've not touched. Remain long here and a firm believer in its prospects.

[smoothtrader] 03/11/2016 10:52

Next leg up ?? Now we've been hovering around the 28p ish

[franki8] 02/11/2016 14:38

some big buys going through. People are betting on gold in advance of the election??

[onedayrodders] 02/11/2016 12:53

No and you are not in SOLG so that makes it a ramp right ?

:O)

[trader11] 02/11/2016 06:47

Is anyone also in IRR as that looks ready to lift off BIG?

[lefrene] 01/11/2016 13:44

Copper has firmed up a bit too.