Solgold Share Discussion Threads

[mknight] 08/3/2019 10:12

Cornerstones main problem is that Solg may delute their shareholding further .

[pob69] 08/3/2019 09:40

I think it is worth noting that;

"...Shareholders that collectively own or exercise control of approximately 59% of the outstanding common shares of the Company have advised Cornerstone that they will not support the terms announced by SolGold"

This is a small increase from the previous news release (8th Feb)

"...As previously announced by Cornerstone, shareholders of the Company that collectively own over 50% of the Company's outstanding shares have notified Cornerstone that they will not support the terms announced by SolGold."

A less than 10% additional number of shareholders have since supported Cornerstone's approach. How solid is this or is there some wiggle room?

$CGP $SOLG $SOLG.L Solgold #ecuador

[mknight] 08/3/2019 09:29

Interesting that they have approx 59 percent that want to reject the offer .so it may not take much to swing that into SOLG favour .

[mam fach] 08/3/2019 09:09

Hostile bid hostile rejection.

[pob69] 08/3/2019 08:35

There is an interesting development with Cornerstone responding formally to Solgold's proposed bid.

It is long and complex and well worth considering.

Interesting that the $CGP response makes no comment on the previously raised issue of the ownership of Blanca $SOLG $SOLG.L Solgold #ecuador

Worth noting Solgold has previously stated that "SolGold rejects Cornerstone's misleading assertion in respect of the Blanca vein project, as the relevant prospect is outside of the Area of Mutual Interest pursuant to the governing agreements, meaning that Cornerstone has no current interest or ability to earn an interest in this project."

[pob69] 08/3/2019 03:22

I don't recall Barrick formally linked with #ecuador before? $SOLG $SOLG.L Solgold #ecuador $CGP and others. Happy to be corrected.

Vice Minister of Mines, Fernando L. Benalcazar holds a meeting with Mark Bristow and Rob Krcmarov, executives of the Canadian mining company Barrick, who express their interest in developing exploration activities in Ecuador. #MineríaConResponsabilidad

[shakester2] 07/3/2019 13:14

Good point

[lefrene] 07/3/2019 13:08

Solg have certainly worked diligently at being a 'good neighbour' creating opportunities for locals to work and introducing and funding improved agricultural techniques. I would hope that Solg is seen as a responsible and trustworthy operator. The government might be concerned as to who would develop and operate the mines if Solg were taken over, and would want assurances and guarantees that high standards will be met by new owners.

[mknight] 07/3/2019 12:58

Thanks Jerry.

[jerryspaniel] 07/3/2019 12:55

MK. I would have thought most countries would require similar permits. In the uk they are more like planning applications. You can’t just drill wherever and however. A mine development would be an exhaustive process with many govt agencies involved ensuring safety, environment etc etc etc. This all looks normal atm.

[pob69] 07/3/2019 12:33

Some current information for $SOLG $SOLG.L Solgold #ecuador $CGP and others

It's a long well considered article so posting only the references to Solgold

Ecuador mineral development hits a few snags

SANTIAGO, CHILE — From barely featuring on the global mining map at the start of this century, Ecuador has moved rapidly to become one of the most dynamic jurisdictions in South America, with two mines due to enter production later this year.

...Their optimism appears widely shared, as mining companies continue to advance projects in the country.

The interest in Ecuador among international mining companies is seen in the gathering battle to control Australian exploration firm SolGold (TSX: SOLG; LON: SOLG). The company, led by CEO Nick Mather, has estimated a resource of almost 11 million tonnes copper and 23 million oz. gold at its Alpala project in the north of the country.

Both BHP Group (LON: BHP) and Newcrest Mining (ASX: NCM) have acquired stakes in the company, raising the possibility of a bidding war for the firm. Ahead of that skirmish, SolGold has launched a takeover bid for Cornerstone Capital Resources (TSXV: CGP; US-OTC: CTNXF), which owns 15% of Alpala.

The industry’s recent challenges have not affected Newcrest’s appetite for the country. Already a major shareholder in Lundin Gold, the Australian firm signed option agreements in February for two exploration properties in southeast Ecuador with Cornerstone.

[mknight] 07/3/2019 12:31

Lefrene

I agree ,but i do not know if zoros is correct but i will email solg to try and find out .

[lefrene] 07/3/2019 12:25

I would hope that the Ecudorian government would have the sense to know that having encouraged heavy investment in metal exploration, that it would be economic suicide to then deny the ability to mine. Investment would simply disappear from the country for 20 years or more, as subsequent governments would struggle to rebuild confidence.

[mknight] 07/3/2019 12:04

Interesting post from Zoros on lse.

He states that PEA is waiting drilling permits . This suprises me but makes sense as why the share price has been trading between 35-38p for some time .

Does this mean we need a permit to drill and then another permit to mine .if this is so then i can understand the delays and the current price as obviously the risk is higher .

Any comments are welcome . I have to say it sounds a strange way to run a business knowing it is possible to spend a fortune on drilling and then have the possibility of not been able to mine .

[mam fach] 06/3/2019 14:04

Thanks. I can see what they mean.
Got a different perspective to us minnows.

[jerryspaniel] 06/3/2019 14:04

If you are referring to cornerstone, they are talking about the Canadian quote, and they are right!!

[mknight] 06/3/2019 13:27

Mam

For nearly 2 billion shares they are not wrong . Try and buy or sell 500k you will not get the price of the share either way .

[mam fach] 06/3/2019 13:14

How can they say SOLG is an ill liquid stock?
Does anyone think we are heading for pettiness & bickering.

[jerryspaniel] 06/3/2019 13:09

Well she hasnt replied to me from ydy so maybe there is a blackout (which would suggest that news is imminent). I have met her a couple of times and I would say that she has always been very professional and has said that she reads all emails and tries to reply to them all. Maybe you asked her something that she cant answer w/o making you an insider.
She has said to me in the past that she NEVER discloses non public, price sensitive info.

[mknight] 06/3/2019 13:08

Jerry , As you know i was thinking weeks back that it was being held back for Toronto ,well i got that one wrong big time .

It seems he needs to hold back news even longer ... why ?

I thought if he wanted to take out Cornerstone a higher Sp would have clinched the deal but it seems i was wrong again unless he had nothing that would push the Sp higher .

[lefrene] 06/3/2019 13:08

It is annoying but I believe NM is doing his best to deliver value to the shareholders, if that requires radio silence for a while then one has to sit it out. Solg is the little guy in a school yard of big bullies, a cunning plan is required to come out best.

[trev1223] 06/3/2019 13:02

jerry
I sincerely hope you get further than I did. I emailed Anna two weeks ago but have had no reply. I think that SOLG are keeping some things close to their chest preferring not to go public on future intentions.

[jerryspaniel] 06/3/2019 12:48

Thanks MK. I am considering seeing whether Anna will make me an insider and tell me whats going on. I have no intention of trading this stock until we get some news so it cant do me any harm and might ease my frustration.
The company have gone from issuing too many releases to deliberately keeping s/h in the dark. Not happy.

[mknight] 06/3/2019 12:30

Jerry. I liked your post on lse bb.

I agree with you that holding back news which is now 4 months old good or bad is not really on . Probably there is a reason for it but that does not make it right.

Lets hope when it comes we will be happy .

[pob69] 06/3/2019 08:53

Rick Rule (again always worth to follow) discusses Cornerstone on BNN. Less than a minute but it "all helps"