Solgold Share Discussion Threads

[lowtrawler] 15/10/2020 10:30

Don't see why cornerstone owning shares in SOLG would complicate things. We own 5% of CGP. It would be an asset sale, possibly packaging the whole of ENSA. Alpala plus the other prospects in there might make $2bn. I expect it would be structured so SOLG retain an interest. Deduct tax and costs, it would be enough through to BFS for Porvenir and Rio.

[mknight] 15/10/2020 10:21

If they reach that agreement to sell Alpala then i think the market would like it .

What about the 7% of shares that Cornerstone own in Solgold ? Thats where it might get complicated .

[lowtrawler] 15/10/2020 09:55

Mk, as discussed earlier, the absence of an RNS suggests both sides are talking. I believe both sides will now find it beneficial to sell Alpala. Hopefully, any idea of board changes or requisitioned meetings has disappeared.May even get an announcement later today in lieu of the bid failed RNS.

[mknight] 15/10/2020 09:50

Mwv1

I guess thats where Citi come in . They should be able to map the economies out for them as well as advise then on the legal side to stop CGP from trying to change the board of Directors .?

[mwv1] 15/10/2020 09:38

Bringing CGP on board was always about making financing of Alpala easier - financers don't want to give you $2.5b if you and they don't know how your minority partner is going to raise it's $0.45b share.
With the results from Porvenir the focus of the board will be split - but you don't put a tier 1 project like Alpala on the back burner - they have both exploration and development teams.
To get Alpala funded as quickly, easily and cheaply as possible, having all the ownership in one place is the only way to go.
We will find out soon enough.

[lowtrawler] 15/10/2020 09:37

Mk, the key issue for cornerstone is they want Alpala to be sold rather than for them to be acquired. They can't afford to fund Alpala and so it has to be sold prior to BFS. The likely cost to develop Porvenir and Rio will cause SOLG to now also want a sale. It is possible they are developing a strategy for this.

[mknight] 15/10/2020 09:28

Mwv1

If Porvenir is as big as it looks and shallow then would it make economical sense to give them a chunk .remember they are not only giving them a chunk of Porvenir they are giving them a chunk of all regionals .

[arcadian] 15/10/2020 09:24

The past is a foreign country...............

Does it matter any more in view of the latest drill results and statements from the top? With POR and RIO we are in a different universe.

[mwv1] 15/10/2020 09:19

They may be discussing a way forward either within SOLG, do they extend the bid for a month to allow Porvenir results to come in, or with CGP board is there a figure that makes the deal happen.
If it was an acceptance - we would have heard
So it must be a rejection - if the board were happy to let it go at that we would have heard.
So must be coming up with a strategy to put more pressure on the CGP board to accept some form of offer.
Well that's my guess.

[rougepierre] 15/10/2020 09:17

Stonking productionvresults at my second best share...ATYM...

[lowtrawler] 15/10/2020 08:58

Surprised no RNS confirming our bid failed?

[rougepierre] 15/10/2020 08:53

Pob69 and London...you are major assets on this Board...

[mknight] 15/10/2020 08:17

Shock and awe .

And thats after finding Alpala which is huge .

Thanks pob69

[pob69] 15/10/2020 08:15

Behind firewall article Solgold SOLG $SOLG $SOLG.L #porvenir #cascabel #ecuador $CGP

First Porvenir hole one of SolGold's 'greatest moments'
SOLGOLD CEO Nick Mather says the company is very excited about the new Porvenir discovery in Ecuador.

"...This, I think, will go down in SolGold's history as one of our greatest moments, Mather told the final session of the Diggers & Dealers conference at Kalgoorlie in Western Australia."

"...We're working on a resource version of shock and awe, like a military exercise for us."

[lowtrawler] 15/10/2020 07:52

I think the interesting development for Porvenir, and explanation for the number of drill rigs, is they are already looking at it as a potential complex of mines. The first site looks like it could be better than Alpala. They have at least one other target that could match Alpala and 4 other targets. Only time will tell but that could become the most exciting and lucrative discovery this century.I believe they have similar hopes for Rio. There are 2 massive targets at Rio.If the main targets at Porvenir and Rio are confirmed after 6 or 7 drills and the secondary site also proves positive after 2 or 3 drills, we will have 2 massive developments to undertake. At that stage, an IPO for Alpala would be sensible as we will need several hundred million for the task ahead.I have previously speculated what SOLG could be worth with 3 tier 1's and got to 200p plus. If we have 2 massive complexes and retain 25% of Alpala, 200p would look like a gross underestimate.

[mknight] 15/10/2020 07:14

Mirabeau . It looks like tier 1 JW Has already called it a discovery . These guys spent thousands of hours looking at Alpala drills and will know what they have found and probably will find .

Porvenir could well be one of the greatest finds ever .

[mirabeau] 15/10/2020 05:28

First Porvenir hole one of SolGold's 'greatest moments'

15 Oct 2020

First Porvenir hole one of SolGold's 'greatest moments'

SOLGOLD CEO Nick Mather says the company is very excited about the new Porvenir discovery in Ecuador.

This week, the company announced the first hole at Porvenir was completed at 909.3m depth, having intersected 893.4m of visual chalcopyrite mineralisation from 15.9m depth.



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rest is subsc

[mirabeau] 15/10/2020 05:03

Exclusive KE Report Commentary – Wed 14 Oct, 2020

Cornerstone Capital Resources – Why they rejected the hostile takeover from SolGold

In late July Chris Temple joined me to outline the hostile takeover offer by SolGold (TSX:SOLG- AIM:SOLG – US:SLGGF) to acquire Cornerstone Capital Resources (TSX.V:CGP – OTC:CTNXF) and the Cascabel Project. I was able to follow up with the President and CEO of Cornerstone Capital, Brooke Macdonald to get his side of the story.

Brooke joins me to share his thoughts on the offer and the main reasons why it was rejected by the Company. We discuss a number of key points within the offer and an important date that could lead to more interest in the project from other parties.

If you have any further questions for Brooke over at Cornerstone please email me at [e-mail].

Also note this interview was recorded at the beginning of September. I was hoping to get SolGold on the show as well but that never materialized.

[mam fach] 15/10/2020 00:13

Wasn’t complaining. Happy to hold.
Today’s another day. GLA

[fsawatcher] 14/10/2020 22:17

"Been miserable day for all holders"

Been a wonderfull month though innit

see the bigga picture coz there gonna be lotta days that go up and down

[jlondon] 14/10/2020 21:16

Solgold Oct 2020 Presentation just out:
pob69 gave the link. Its on www.solgold.com.au

P R O V E N I R:
One can see that 4 drills [slanted] will go right through the ore body from 4 angles, thus giving a good idea of the ore body. Drill 2 commenced.

A lot of core pictures are now shown and they are clearly marked at what level of drilling - have a look. I am sure that any working geo will be able to guess the grade.

Dr Garvin mentioned in the Provenir RNS of 1 Oct 2020 that the outcrop etc showed a 1:1 copper to gold ratio. What ever it may be in the assays, gold is welcomed with the prices over $1,900.

TAKE-OVER
For any take-over, the 1st shot is usually a 25% premium and then the knock-out could be another 20% more. From what I have seen, the total premium is around 40%+.
So, at 37.5p today, a 45% premium would be 54.10p. No surprise why John Cronford talked of 50p take-out and Liberum 55p [not broker target but the detailed maths of costs etc].

IF NO TAKE-OVER
Originally, Liberum said it was Q2, 2021 at 55p [reported also in the Times]. I posted what Nick Mather said [Ref:Mining Journal Interview] that he would make it "expensive." At the time, I didnt know what he actually meant. Now, of course with Provenir and possibly a 2nd string to Solgold, Liberum said today that they could possibly ascribe another 50p re: Provenir.... Pob posted this on CEO.CA CGP today.

3 TIER ONE -Solgold
Mather said he thinks that Rio Amarillo could be a Tier 1or rather an Alpala [?] and from all the indicators so far, Provenir could also be a candidate given there are 4 porphyries in the Provenir licence per presentation?

Mather said that Alpala [Ref: another Mining Journal Interview] that it contains 85 MOZ GOLD EQUIVALENT. So, three Tier-1 could be 85 MOZ x 3 = 2 5 5 MOZ of gold equivalent [millions of ounces]??

I posted that Barrick Gold*s reserves etc came to just over 200 MOZ & their market cap is US$50.54 billion @US$28.31. Solgold*s mkt cap is £773million ~37.3p.

The US govt*s total gold holdings is 261.5 MOZ of gold.

So, Mather could be sitting pretty?

LOTS OF NEWS:
Solgold 1 Oct 2020 RNS re: Provenir said that assays will be out in at least 3 weeks from submission. So that could be starting 21 Oct 2020 onwards. Then Alpala PFS to come and on London South East, one expected an increase in NPV even if it is from just from higher commodity prices. La Hueca, La Blanca results due. Rio Armillo is reading to drill. Lots of news to come at any time as Solgold tends now to throw out RNS at unexpected dates. Possible off-take news as they are working on that with 11? In the Oct 2020 presentation, there were more projects and those may also have news. All the drilling at Provenir, Rio Armillio, La Hueca, La Blanca are all turning or going to turn so, lots of news to come.

So, whether there is an early bid or not or no bid, the potential of Provenir is now talked about and we wait to see Rio Amarillo*s 1st drill as per share price Angel.

The longer people wait, the better is my own personal opinion as Solgold proceeds with Provenir, Amarillo and the smaller ones like La Hueca & La Blanca which are more surface and less costly to mine.

It is always possible that there are synthetic stocks out but if any news comes out unexpectedly, then they may have to close etc. So all good from my perspective. Those out will be out, those in will be in and those looking will be looking.

Nick Mather*s last Mining Journal interview said his vision is to emulate the growth of Fortescue [A$16.39, Mkt Cap A$50.46 Billion]. Who*s to say given that Provenir could be the 1st growth project after Alpala and then maybe Rio Amarillo etc? Solgold may no longer be a 1 horse pony and therefore, things may have changed from the old days of 2013? Provenir may produce another asset given majors are currently chasing copper and gold projects [JV*s and taking up junior*s placings etc] as is all over the news? Solgold & sister IRR [Mascolo said they wont give dates now due to traders] are no longer giving out exact dates, so left-field news could come out any time, any day etc. IMO. DYOR.

J.L Wed, 14 Oct 2020. Not editing so pardon typos. Kindly check.

[mam fach] 14/10/2020 19:45

Don't think there is any evidence so far of takeover bid in the offing.
Neither is there a takeover premium boosting share price.
Could be proved wrong very soon though.
Hold on Solgers. Been miserable day for all holders.

[pecker1] 14/10/2020 19:45

mk,

Thanks. I just get a bit bored of this guff implying Solg is some weakling with no initiative of its own meekly awaiting its inevitable fate at the hands of BHP et al.

It's regional exploration now seems to be dealing Solg an ace every week. It has four 100% owned exploration companies with potentially superb assets that, as one or two here have already suggested, could be IPO'd and/paired off with a white knight. Anything is possible!