Solgold Share Discussion Threads

[lowtrawler] 16/10/2020 17:36

They forget to mention the $400m they need following BFS to fund their share of the mine build.

[p@] 16/10/2020 16:53

From cornerstones rejection-

15% carried interest in Cascabel – free ride until completion of a bankable feasibility study
– SolGold must fund 100% of expenditures through to feasibility
– No dilution for Cornerstone vs. onerous Franco-Nevada royalty (SolGold solely liable)
– Cornerstone only pays back spend after production is achieved from 90% of Cascabel earnings at
LIBOR + 2%

[plentymorefish] 16/10/2020 16:49

There has to be method to their madness surely?.....

[p@] 16/10/2020 16:46

By saying cgp don't know what they are doing,I think we're underrating Sprott.

[lowtrawler] 16/10/2020 16:38

MF, we all hope you are right but the odds are against us. Tier 1's are incredibly rare. I have dared to believe we have 3. If there are really 6 or more, we need never work again.

[lowtrawler] 16/10/2020 16:22

DD, I read the Canadian boards and they are morons. They convinced themselves that if SOLG could fund the 85%, they would have no problem debt funding their 15%. They were being repeatedly advised they needed SOLG permission for such funding but dismissed it as fake news.

[lowtrawler] 16/10/2020 16:10

Now that CGP have formally rejected the bid, there are only 3 ways for them to get better value than was on offer:1. SOLG agree to sell Cascabel alongside CGP in order to help fund our other prospects.2. There is a hostile bid for SOLG and the bidder can only win by acquiring CGP (unlikely but possible).3. CGP have a rich benefactor willing to stump up $400m without diluting existing holders by more than 20% (almost laughable).

[dozyduck] 16/10/2020 16:08

LT. Cornerstone was probably gambling that NM wouldn't come up with any prospect that could be developed before Alpala. They've lost that gamble big time. Be interesting to see what develops on the Canadian CGP bulletin boards.

[mam fach] 16/10/2020 16:02

Can't agree with you on any of your assumptions .
Cascabel world beating. Other areas even better.
Got 3 4 5 6 TR 1s.Not time to read RNS yet.

[lowtrawler] 16/10/2020 15:58

Rp, I believe CGP would dispute that interpretation and I've never heard SOLG explicitly say that CGP couldn't be sold with their share of ENSA transferring. In reality, nobody is going to buy CGP unless they know they are 100% going to get SOLG. The price demanded by CGP would be far too high unless this was the case.

[rougepierre] 16/10/2020 15:48

yes low trawler...

Clause 3 seems quite clear that anyone buying CGP would need SOLG's agreement to the 15% transfer of ENSA...

So they can run down the clock until it falls into their laps at $3.5 million...

Correct me if I'm wrong...

[lowtrawler] 16/10/2020 15:42

DD, I don't think cornerstone have quite grasped that their 15% ENSA share is only valuable to the owner of the other 85% or to someone that wants to own the other 85%. They may get lucky and SOLG may now have a reason to monetize Alpala but cornerstone have missed out on a real opportunity.

[lowtrawler] 16/10/2020 15:35

Pob, my understanding of Alpala was that it came as a complete surprise to them how good the resources were. They expected it to be a relatively minor discovery. All of our priority sites actually have better characteristics than Alpala but nobody really expects all of them to be better.

[dozyduck] 16/10/2020 15:32

I don't see anything that prevents Solg 'parking' Cascabel indefinitely, assuming the FNV deal can be unwound - especially if Porvenir et al can be developed more quickly - which if the case would encourage BHP and NCM to go along - until such time as Cornerstone comes to heel.

[lowtrawler] 16/10/2020 15:24

To all loyal SOLG holders:
What a day, a year, a life it is!
Take a dream on a Sunday
Dream, dream, dream, dream along

To all the shareholder's of Cornerstone:
you know you had it comin' to you
Now there's not a lot I can do

[pecker1] 16/10/2020 15:22

Robizm,

Indeed. But I rather liked it. Sometimes I find their RNSs have so much info in them (eg drill details) that I have to go back and read them again, often several times.

They have saved me the bother!

[jlondon] 16/10/2020 15:14

Solgold RNS, Fri, 15 Oct 2020 at 3pm [Re:CGP]

"P R O V E N I R
Drill Hole 2

U P D A T E S will be released on a R E G U L A R BASIS."

[robizm] 16/10/2020 15:11

Someone should have proof read that RNS

[pob69] 16/10/2020 15:04

Solgold's response to failed offer SOLG $SOLG $SOLG.L #porvenir #cascabel #ecuador $CGP

Interesting that they reiterate;

Cornerstone may not use its interest in ENSA directly or indirectly to secure debt funding without SolGold's consent and SolGold holds a pre-emptive right and a right to approve or disapprove of any dealings of Cornerstone in its direct or indirect interest in ENSA.

Further interesting phraseology used about the other projects

"...These projects have the same or better gross geological characteristics as Cascabel"

[pecker1] 16/10/2020 14:55

lefrene,

So do I - not sure on what though!

Re drill rate per day. Covid permitting, I would expect NM to go for 24/7 drilling of hole 2 at Porvenir. First RNS of la Hueca showed photo of floodlit rig with caption "Nightshift ...".

[mknight] 16/10/2020 14:54

Possible next week .

BLANCA

PORVENIR x 2

LA Huelca

PFS

Cornerstone

Holdings

Probably 1 or 2 i missed .

[mknight] 16/10/2020 14:50

Hi Lefrene

Yes we should get 1 RNS every week now and sometime 2 or 3 in a week .

So plenty of news .

[lefrene] 16/10/2020 14:44

Lets see if BHP do anything next week. Is NM going to issue another rns on Monday? I feel that he will.