Solgold Share Discussion Threads

[mwv1] 02/10/2020 11:13

Solgold technical guys have said in the past that at Alpala they can assess the core based on visuals and get to within 0,1% Cu eq of the results that come in a month later from the assay lab.
At Porvenir they will not be that accurate yet as this is their first core but on the basis it is very similar to Alpala - same 1% Cu to 1g/T on the analysed rock saw samples they will have a very good idea of what the drill pulling up.

[mam fach] 02/10/2020 11:12

Honestly can't believe holders selling.
Still not too late to join the party.
In the good old days this would have shot up to 99p on yesterdays news.
Sad, sad times .

[mirabeau] 02/10/2020 11:05

P1

'Full speed ahead at Porvenir, including metallurgy etc, as if they are already going for a PFS'

Are you saying that the grades are known (Assays completed but market not informed) and that the discovery is commercial based on what we know and what Mather knows but hasn't yet told the market?

tks

[pecker1] 02/10/2020 11:01

Good to have some fun for a change speculating on what might be. Nick's interview on BRR was revealing. Full speed ahead at Porvenir, including metallurgy etc, as if they are already going for a PFS. Aim would be to achieve in 2 years what will take 6 at Cascabel. This would give Solg the option of deciding whether to develop Porvenir before Alpala - the option that he regularly flagged up when justifying the regional exploration strategy. Pity that the virus has delayed the strategy by at least 6 months.

Porvenir is of course 100% owned and no need to bring Cornerstone along to the party (as others have already pointed out). A near surface deposit could have a low strip ratio, short development time, attractive economics and spin off early cash flow to develop other projects.

Next few drills results will be critical to determine whether grade increases with depth and to suggest how big this elephant could be.

[pob69] 02/10/2020 10:35

Checking out Porvenir and other Green Rock Resources tenements and its proximity to National Parks (protexted forests) care of the mapping provided by the national Cadastre and the NGO RAG below (really helpful resources) Solgold SOLG $SOLG $SOLG.L #porvenir #cascabel #ecuador $CGP

Good to see it is in the clear on first glance....

[mam fach] 02/10/2020 10:26

That's a thought - withdrawing the offer.
Looks like watching share price will keep us Solgers occupied through the long miserable winter that's facing us.
Seeing value of our holdings rise and nothing to spend it on
and nowhere to go.Very interesting post this morning (as always).
GLA

[lowtrawler] 02/10/2020 10:25

Timeline wise, Porvenir should either be proven up or close by the end of this year. At least to the point of declaring Tier 1 with some accuracy. Rio Amarillo might get an announcement similar to yesterday's Porvenir announcement in November or December and be proven up by the end of Q1.

In the absence of any bad news, I would expect the share price to increase to 60p as Porvenir get's proven. If Rio Amarillo follows Porvenir, I would expect 100p plus by the end of Q1.

I believe 3 Tier 1's would be irresistible to the majors and so bids would likely appear towards the end of Q1 or into Q2. It will be a competitive bidding situation that will be hotly contested. Across the 3 sites, there will likely be over 700p of NPV and bidders will be projecting more to be found across the unexplored sites. Hence, my expected successful bid price of 200p plus might even be conservative.

My moonshot scenario is rose-tinted but depends on only 3 things:

1. Porvenir being proven up as a Tier 1 over the next 3 months.
2. Rio Amarillo also being proven up as a Tier 1 by end Q1.
3. A competitive bid situation arising.

The only item with long odds is Rio Amarillo. Remember, Rio Amarillo has long been considered a better prospect than Porvenir. At less than 33p, there is little to no risk here and a realistic prospect for a 6 bagger inside 9 months.

[mknight] 02/10/2020 10:13

Goldrush .. decent drilling at La Hueca and NM might withdraw the Cornerstone offer .

[goldrush] 02/10/2020 10:11

Lowtrawler

Your assessment of 200p for 3 Tier1's is fair.

As we discussed yesterday something decent from La Hueca and then Rio Amarillo.....would put us into orbit and the majors would have to do something. It is the success rate on the Contract Areas, when it is 4 out of 4.....the remaining 68 Contract Areas what value then ????

[mknight] 02/10/2020 10:08

Lowtrawler. Its realistic and if they are open pit then no doubt worth your 200+

The fact is the shareprice is actually better value now at 31.5p than it was at 26p a week ago without Porvenir. Funny as that may sound .

Cannot see it staying in the 30,s for long .

[lowtrawler] 02/10/2020 09:53

Mk, I agree with the 60p increment per tier 1 but success will also lead to the unexplored sites being given more value. In my view, if we have 3 tier 1's, any successful bid will need to be over 200p. If we do have the 3 largest finds of the last decade, it's impossible to believe there won't be bids.

[mirabeau] 02/10/2020 09:51

thanks again to MWV1 on LSE - great insight:


''Musings on Cacharposa creekToday 09:46

Next drill is the key - in four weeks time will have the analysis on the first and the visuals on the second. Second is aimed at the core and should give 500m+ at these grades or higher -visuals are very good estimate - SOLG reckon they can get with 0.1% of the analysis grade based on the visuals at Alpala.
If they get 500m of greater than 1.5% Cu eq - we have a deposit size that will have a core of similar size and may be higher grade than Alpala but is located within 100-150m of the surface. Assuming the core is a 500m sphere gives them 65 million m3 or 200 million tonnes. At 50,000 T/d (alpala planned mine size) gives 11 years of operation in the core.

Will be much quicker to drill - MRE 1 drilling could be completed in 9 months from now

Much quicker to PEA/PFS/DFS - no complicated underground mine

Much quicker to build - no complicated underground mine

And all owned by SOLG''

end

[mknight] 02/10/2020 09:45

Porvenir is a major game changer

Forget being taken out for 60p it will need to be 1.20 minimum imho .add 60p for every tier 1 . As lowtrawler says next one could be Río Amarillo which would then see us at 1.80 and upwards as each of the 72 sites are drilled .

Probably best to put the shares in a draw and come back in a year ...i cant do that but it would be the best way to make money now .

[plentymorefish] 02/10/2020 09:43

Well said Mirabeau.....

[lowtrawler] 02/10/2020 09:41

Pmf, at least....... wouldn't want to alarm the bidders though.

[mirabeau] 02/10/2020 09:41

thanks to mwv1 on LSE - any amateur geos on here that are able to say if this analysis is an accurate insight? thakns



''mwv1

Posts: 34

Price: 31.85

No Opinion

Musings on Cacharposa creekToday 09:25
The pretty pictures on the RNS yesterday gave us some info on 200m of the core.

250-290m - visual estimate 3% Chalcopyrite - Expected analysis grade ~ 1.8% Cu eq
290-320m - visual estimate 2.5% Chalcopyrite - Expected analysis grade ~ 1.5% Cu eq
320-400m - visual Chalcopyrite in 1.5cm wide veins - Expected analysis grade more than 2% Cu eq
400-450m - visual estimate 2.5% Chalcopyrite - Expected analysis grade ~ 1.5% Cu eq

This gives 200m of drill at over 1.5% Cu eq on a drill that missed or just grazed the core of the porphyry.

Expected grade based on 1% Chalcopyrite = 0.34% Cu and a 1%Cu to 1g/t gold and 0.34g/t gold = 0.26 % Cu eq (0.75 conversion factor)''

[plentymorefish] 02/10/2020 09:39

Yep....certainly looking bright here.....I think any T/O would have to be at least 40-50p surely?.....

[markth126] 02/10/2020 09:39

Put it this way, I'm revising my 55p target way upwards now!

[lowtrawler] 02/10/2020 09:29

As stated yesterday, the fun has only just begun. Lots of triggers over the coming weeks. Once Porvenir is proven up, we should have 2 tier 1's and, where a bid with just Alpala was likely, a bid with 2 tier 1's is highly likely. In my view, Rio Amarillo is capable of dwarfing both Alpala and Porvenir. If we get positive news on a third site, we will have the 3 biggest finds of the last decade and still have a pipeline of priority sites for further exploration.Putting our rise tinted glasses on, 3 tier 1's could be proven inside the next 6 months. Porvenir and Rio Amarillo could both be bigger and more valuable than Alpala. Expectations would be high that more of our sites would be valuable. What price SOLG then?

[wapping67] 02/10/2020 08:49

Level 2 never shows the complete picture as it only shows one trading venue and will not display hidden orders, dark pool orders, iceberg offers & bids. The IOI (indication of interest) boards give a much clearer indication of trading flow. Only available to institutional investors

[the count of monte_cristo] 02/10/2020 08:48

Alpala, the worlds largest copper gold find for the last 10 years, with some of the best ever recorded drilling results of any resource on the planet....in a rising gold and silver bull market:))

[mknight] 02/10/2020 08:20

Level 2

31.20 6k v 31.95 12k

Cannot buy anything in volume until 32 then o ly 39k
Nothing up to 120k at 33

Still looks strong to me .

If i wanted to buy 200k i would have to pay 33p

If i wanted to sell 200k would get 30.5p

[mirabeau] 02/10/2020 08:12

thanks again p69 - reposted this on LSE. Hope u don't mind...disseminate the message, as it were

[pob69] 02/10/2020 08:08

New article. Shore are not listed as covering the company in recent presentation decks Solgold SOLG $SOLG $SOLG.L #porvenir #cascabel #ecuador $CGP

"...Shore Capital previously suggested Porvenir had the potential to upstage SolGold's flagship 85%-owned Alpala deposit.... preliminary observations from the ongoing drilling of the Porvenir's first drillhole would appear supportive of this belief; Shore said."