Solgold Share Discussion Threads

[pob69] 01/3/2019 06:27

Interesting for $SOLG $SOLG.L $DGR.AX (who have Tribeca as investors and the qouted Fund Manager is on the DGR board as a NED, so calling their own book of course) #ecuador (and $CGP)

Rio urged to take the plunge into M&A after record cash splash
By Brad Thompson Feb 28, 2019 — 7.45pm

The time is ripe for Rio Tinto to use its soaring share price and strong balance sheet to make a major acquisition in copper, according to boutique fund manager Tribeca Investment Partners.

Tribeca portfolio manager Ben Cleary said Rio should consider coming in over the top of BHP and Newcrest and buy SolGold and its copper assets in Ecuador.

"This is one we have been watching and we think the asset is better off in Rio's hands," he said.

Rio Tinto chief executive Jean-Sebastien Jacques says the company won't rush into M&A to address external growth concerns.

Mr Cleary said a potential $1.5 billion tilt at SolGold looked like at obvious option for Rio.
"It is a massive block cave operation, 400,000 tonnes of copper production for the next 40 years, and we think Rio is the best underground block cave miner," he said.

Rio should also consider OZ Minerals and its Carrepateena copper and gold project in South Australia or a much more ambitious deal out of left field involving $US19 billion, New York Stock Exchange-listed Freeport-McMoran, according to the fund manager.

Under a deal unlikely to be considered by Rio given its cautious approach to acquisitions, Mr Cleary said Freeport's unwanted businesses could be sold off while Rio retained the copper assets.
The ideas and suggestions were coming thick and fast on Thursday as the market turned its attention in earnest to what some worry are Rio's somewhat limited growth options.

Rio chief executive Jean-Sebastien Jacques has made it clear the company is on the lookout for aquisitions but will set the bar very high.
"We have a watching brief, we have a very high threshold in relation to [mergers and acquisitions]," he said on Wednesday.
"Are we looking at opportunities? The answer is yes, but we are not going to rush in M&A ... it has to really create value for shareholders." ......etc

[zeusfurla] 28/2/2019 22:19

It was all autotrade algorithms that cleared the book. From what I saw there was more than 1 autotrade in play and whoever set them up were taking different approaches. However, not much if any movement from the MM's on price but we are seeing a push up. Good chance of 37.8p being broken tomorrow. There must be some news next week.

[shabadi] 28/2/2019 21:54

mknight - can you explain what you mean by 'bought on both sides' and why that might be significant?

[mknight] 28/2/2019 16:42

Game on .

Someone bought on both sides of the book this afternoon apart from 30k . Cleared the lot .

[nicksig] 28/2/2019 16:38

Nice auction

[mam fach] 27/2/2019 12:46

I know it's going to take news.
We've been waiting a long time.
But it's been a very amicable and informative BB.

[mknight] 27/2/2019 11:24

We should find of this afternoon if news is on its way as buys tend to be a good indication .

[alwaysevolving] 27/2/2019 11:15

It’s going to take News Mamfach.

[mam fach] 27/2/2019 09:47

Need to get through 38p.
Price been too low for far too long.
But as we all know when Solg starts to motor nothing will hold price back.
Hang on.

[mknight] 27/2/2019 08:10

DGR up last night passing the 12.0 to 12.5 which seemed to be our 38p .

I hope we would pass the 38p in the next few trading days .

[mknight] 27/2/2019 08:02

Looks like Solg are starting to ramp up the PR machine before the PEA and Toronto fair .

[pob69] 27/2/2019 07:52

SolGold’s Nick Mather our Mining Person of the Year for 2018 $SOLG.L $SOLG #ecuador $CGP from Northern Miner Journal.

Nicholas Mather, president and CEO of Australian junior SolGold, is The Northern Miner’s Mining Person of the Year for 2018 in recognition of his role as the driving force behind the wildly successful grassroots team that has drilled off the world-class Alpala gold-copper deposit at its Cascabel project in Imbabura province in northern Ecuador, with potentially many more discoveries to come in the region.

The past year was a pivotal one for Toronto- and London-listed SolGold. In November 2018, it tabled an updated resource for Alpala that tallied a staggering 2.1 billion indicated tonnes grading 0.41% copper and 0.29 gram gold per tonne, or 0.60% copper equivalent (at a 0.2% copper-equivalent cut-off), plus another 900 million inferred tonnes grading 0.27% copper and 0.13 gram gold, or 0.35% copper equivalent, at the same cut-off. These numbers are based on 133,600 metres of drilling.

That translates to a contained metal content of 8.4 million tonnes copper and 19.4 million oz. gold in the indicated category, and another 2.5 million tonnes copper and 3.8 million oz. gold in inferred.

SolGold notes that Alpala has returned “some of the greatest drill hole intercepts in porphyry copper-gold exploration history,” as seen in hole 12 (CSD-16-12) returning 1,560 metres grading 0.59% copper and 0.54 gram gold per tonne, including 1,044 metres of 0.74% copper and 0.54 gram gold.

Originally formed in 2006 and involved in a high-grade gold discovery in the Solomon Islands, SolGold took its present name in 2012 and signed a fateful agreement with TSX Venture Exchange-listed Cornerstone Capital for the Alpala copper-gold project in northern Ecuador. SolGold has since boosted its stake to 85%, and this year launched a hostile offer to buy Cornerstone and consolidate ownership of the project.

Along the way, SolGold has attracted some big names as shareholders, including Australian mining giants BHP Group and Newcrest Mining, and yet has retained firm control over the asset — at least for now.

Mather is described as a geoscientist and resource entrepreneur with a more than 30-year record of exploration and resource investment in a career that has taken him to projects in Southeast Asia, Central America, Africa and Australasia, and private and listed equity markets in Australia, the U.K., Canada, Hong Kong and the United States.

He has been involved in all stages of development and financing of a full suite of commodities, including mineral sands, coal, gas, gold, oil, iron ore and base metals, and other commodity projects. He is said to have been instrumental in capital raisings of over A$500 million and the return of A$5.7 billion to shareholders via takeover.

As if his SolGold duties aren’t enough, Mather is also executive chairman of oil and gas firm Armour Energy; executive chairman of base metals junior IronRidge Resources; a non-executive director of AusTin Mining; non-executive chairman of Dark Horse Resources; and CEO of DGR Global.

Earlier this decade, he was a non-executive chairman of Orbis Gold; executive chairman of Waratah Coal; the generator and vendor for coal company Northern Energy; and non-executive director of Bow Energy.

For a glimpse at Mather’s jaunty personality, the Education portion of his LinkedIn profile notes a Bachelor of Science (Honours Geology) earned from University of Queensland, but as for any further accomplishments in academia, he adds: “Nothing of any great contribution. Rowed and played rugby. Brewed beer. Cooked and bush walked and restored an old car.”

Mather has certainly more than made up for any lost time from his school days, and the greatest contribution of his career and enduring legacy may well prove to be his colossal copper-gold discoveries in Ecuador.

[lefrene] 26/2/2019 14:23

If one takes a look at 20thC history it's the 'left' that slaughters millions for the 'greater good', not that the 'right' has cared much for the poor either. A case of both sides making use of those too weak to defend themselves.

Hopefully Trump and Xi will get back to business as usual and copper demand will push prices up, in the meantime if there is a loss of confidence in fiat currencies then gold will benefit, so I'm content to sit on high value metals for a while, even if it does seem like a pot that never boils.

[sogoesit] 26/2/2019 14:02

Yes, interesting lefrene.
Unfortunately, it’s the poor(est) who suffer the most in these circumstances.
A position I find weird because I thought socialists, or neo-liberals, always vouch for being on the side of the poor!

Anyway, hopefully we can make money out of a “misallocation” of capital to copper and gold ;-))!

[sogoesit] 26/2/2019 12:44

Lol!
Don't tell me!
(I wasn't very popular as an energy consultant when I told my clients that wind power was a TWOFT or, politely, a total waste of time!)

[lefrene] 26/2/2019 12:34

Sogoesit, the 'green police' will track you down and punish you for your common sense heresy! :¬)

[sogoesit] 26/2/2019 12:06

The energy has to be generated somewhere if you take the direct fuel combustion process out of the equation.
The car itself may not require additional copper but the process to generate electricity, and distribute it, to charge the cars will require additional copper (whatever particular fuel or alternative "fuel" used).
AIMV

PS: I'm guessing but the overall energy efficiency of electric cars from fuel source to consumption is probably less than the IC process.
The electrical energy chain looks like this: Fuel Production & Transport - Combustion - Generate - Distribute - Battery - Consumption.
Given that there are significant energy losses in the Distribute - Battery - Consumption process it seem likely that battery cars are, overall, less efficient.
The main case for battery cars, imv, is anti-pollution (emissions) in urban environments.

This study covers some of the issues but not all:


PPS: Transmission & Distribution Losses vary between 8% and 15%, a not insignificant loss through the grid.

[lefrene] 26/2/2019 11:25

It seems to be China that is going after electric cars in a big way, lots of cheap city cars ($3,500 to $5000) that apparently require no licence. Conventional lead acid batteries and circa 7kw motors, but how much copper they use compared to building blocks of flats I wouldn't know. After all a small basic electric car doesn't need an alternator or a starter motor, but of course will presumably use more copper than a conventional car.

[arcadian] 26/2/2019 09:55

I see that Peugeot have announced their all electric car. The environmental world will need a lot of copper and the way things are going a lot of gold too.

[mam fach] 26/2/2019 08:41

Going to be boring and agree entirely with last two posts.
Thanks for your opinions.

[5070481] 26/2/2019 08:23

NOt at all. I have long term hopes for SOLG but try to make sure I am aware as to when there could be short term weaknesses etc or when could be good times to top up etc etc. Blanca NIeves returning better grades on their outcrop than Fruta de Norte is stunning and an area I would expect SOLG to focus attention on once the Cascabel PEA is published.

THe long term prospects of SOLG havent changed in the past 2 years in my eyes but there have still obviously been large swings in the share price during that period. I just try to be as realistic as possoble as to when I should have a large position and when i should be reducing a bit. MOney tied up doing nothing has a cost for me.

[lefrene] 26/2/2019 08:18

mam fach, plainly NM has a game plan as laid out on the company website. He is creating a path to raise money from Banks to exploit the discoveries. He is not sitting by the side of the road waiting for a lift from some passing behemoth. He is creating credibility that Solg is capable of going it alone. The big boys can always muscle in when the heavy lifting has been done if they want to, but in the meantime Solg is heading towards being a miner. That's the upside, the other side is that Solg is still much like many AiM stocks (I know it's no longer on AiM), more promise than actual delivery (PEA dragging its heels) and everything is always two years away!

[mam fach] 26/2/2019 07:56

Appears that news is concentrating on all the drawbacks and risk
involved with Solg.
Perhaps as long term holders we are more positive and have faith
that the company will succeed.
All a matter of opinion.
Every view welcome. Hoping we can prove the doubting Thomas's wrong.
GLA