Solgold Share Discussion Threads

[boris cobaka] 16/9/2020 08:11

volume says it all.

[pob69] 16/9/2020 08:05

I like....

"...we believe potentially represents a large exposed porphyry copper-gold deposit and a second major porphyry discovery"

Here's an updated Sept corporate presentation

[lowtrawler] 16/9/2020 07:47

At least Porvenir has commenced, about 2 month's later than planned. 1 drill instead of 2 and using a portable rig rather than the drill platforms.

[mknight] 16/9/2020 07:20

Good news and now we will have 2 x drilling results coming our way . Not a time to be out and súper cheap if some are buying in for the first time . Fully funded as well.

Cannot and will not stay at these prices for long .

[mirabeau] 16/9/2020 07:05

Drilling Commences at Porvenir Project Testing

Outcropping Surface Porphyry Copper-Gold Mineralisation

The Board of SolGold (LSE & TSX: SOLG) is pleased to provide an update on its 100% owned Porvenir Project, held by Green Rock Resources S.A, a 100% owned subsidiary of SolGold.

Highlights

-- All scout drilling regulatory approvals have been received for the 100% SolGold owned Porvenir Project in Ecuador's Southern Copper-Gold Province.

-- Drilling commences at Porvenir Project with initial drill hole testing outcropping surface mineralisation that returned an open ended rock-saw channel result of:

o 147.8m @ 0.69% CuEq (0.43 g/t Au, 0.37% Cu) including,

o 82.63m @ 1.08% CuEq (0.71 g/t Au, 0.55% Cu) located in Cacharposa Creek.

-- Drilling operations underway with initial drill hole (PDH-20-001) at current depth of 16.7m, utilising one man-portable machine, as part of a planned 8000m initial drilling program.

-- Mineralisation at Cacharposa Creek is part of a 1000m-wide, 1700m long northeast trending corridor containing mineralisation styles, size and geometry consistent with surface exposure of a vertically extensive, well-preserved porphyry copper-gold system.

-- Surface mineralisation displays similar characteristics to the giant Alpala Porphyry Copper-Gold Deposit at Cascabel in Northern Ecuador with classical magnetic signature, coincident soil Copper-Gold-Molybdenum geochemistry, and a Gold:Copper ratio of approximately 1:1.

Commenting on the commencement of drilling at La Hueca, Regional Exploration Manager Chris Connell said: "We are very excited to see commencement of drilling at Target 15 in Porvenir because the hole 1 target is of very high quality. The coincident geophysical and geochemical anomalies over an extensive surface outcrop that returned an open ended ore grade intercept of over 140m at about 0.7% CuEq, is an extraordinary target that we believe potentially represents a large exposed porphyry copper-gold deposit and a second major porphyry discovery for the Company within Ecuador. The 13 high-priority regional targets covered by 75 granted tenements represent a significant pipeline of wholly owned quality assets. We look forward to updating the market with visual mineralisation estimates and core photos as drilling progresses at Porvenir."

Commenting on today's new release, CEO Nick Mather said: "SolGold seized first mover advantage in copper gold porphyry exploration in Ecuador in 2014 and is now the dominant tenure holder, with the most active, well-funded, most qualified and best resourced exploration team in Ecuador. With a dominantly Ecuadorean workforce, endorsed by the Ecuadorean community at all levels of the social environmental and regulatory framework in Ecuador, SolGold is strongly placed to emerge as the resource mainstay of the Ecuadorean Copper gold mining industry in years to come, delivering extensive contributions to Ecuador's social and economic growth."

[boris cobaka] 16/9/2020 05:26

low t

no mistake on my part when comparing solg to pm miners. If it helps we can use gdxj junior e&p index +40% or cdnx Tsx micro cap index +30%.
Remember the majority of these would have the potential resource that solg enjoys so it emphasizes the degree to which solg has underperformed.
I'm simply saying solg has very much underperformed the wider sector rally that's taken place since the crash in March. It truly should be much higher and other much riskier ventures have enjoyed a powerful rally that has sadly passed solg by.
Will it catch up?

[dozyduck] 16/9/2020 00:03

BT - your 24822 ! In which case you shouldn't be investing in miners.

[mknight] 15/9/2020 21:41

Lowtrawler .

Cant see it , should be out early October .

The share is now officially too cheap .

[bogotatrader] 15/9/2020 21:24

mknight

SOLG on TSX currently 0.475 CAN$ - equivalent to 28p for London quote

[lowtrawler] 15/9/2020 21:09

MK, my guess is they were previously aiming for 15 October and this pushes us out to end October. The comments from Nick indicated they hoped to complete the PFS by end September but hinting it would then need to go through all the due diligence and technical checking before publication. I reckon the resources involved in that activity will now need to spend the next 2 weeks doing the revised MRE3. If they add additional checks and balances into review of the PFS, it could be early November before publication.

[greenelf] 15/9/2020 21:03

Good stuff. Just need the fuse to light :)

[mknight] 15/9/2020 21:01

Greenelf

Before October the 15th . Might be a week or 2 later than the 30th of September but NM says they are still trying to get it out on time .

Added another 25k at 26.15 today .

[mknight] 15/9/2020 20:59

Lets see if Solgold follows tomorrow .

[bogotatrader] 15/9/2020 20:47

Cornerstone up 8.1% at them moment on TSVE

[greenelf] 15/9/2020 20:46

Thanks, that is good then. The PFS should not be much delayed then..Maybe release Oct/Nov?Looks like the issues are mainly administrative, not fundamental. Cannot see MRE3 being massively different in outcome?

[mknight] 15/9/2020 20:36

Greenelf correct .

The report is always later than the annoucement .

[lowtrawler] 15/9/2020 20:35

FNV finding this during DD is a compelling theory. It would explain why the financing announcement was taken to the wire. It would also explain why the technical breach was announced the following day. From an investors perspective, we would then be able to take comfort that, if FNV were undeterred by it, we should not see any impact from it.

[pob69] 15/9/2020 20:32

Nothing available yet via Red Cloud. I guess it won't be made available as even though I was unable to watch it originally, statements were possibly made which do not comply with the requirements as laid out in the RNS today?

[bogotatrader] 15/9/2020 20:32

I didn't understand a word of this evenings RNS!!!!!

[lowtrawler] 15/9/2020 20:21

Is the Red Cloud webinar available yet? Any link?

[greenelf] 15/9/2020 20:18

Hard to read and understand..this helps understand the 43-101 technical report purpose..https://www.micon-international.com/ni-43-101-technical-reports-theyre-not/""The Qualified Person preparing the Technical Report should keep in mind that the intended audience is the investing public and their advisors who, in most cases, will not be mining experts."An NI 43-101 Technical Report can be any of the following:""Then eg"A report or summary of the results of a Pre-Feasibility Study, depending on the complexity of the project.'So as I understand it...the technical report will inform investors on PFS. So the report will follow the PFS. So if the report is by year end the PFS can,/will be released earlier?Any thoughts welcome..

[lowtrawler] 15/9/2020 20:17

MK, I believe it is likely to mean some sort of delay to the PFS. They are now going to have to create the amended MRE3 and publish it. They were already racing against the clock and this is going to divert resources. It is also going to make them extra careful checking the PFS before it is issued. My guess is that whatever date you had in mind before, add at least 2 weeks and maybe more.

[lowtrawler] 15/9/2020 20:03

Once again thanks Pob. The announcement mentions 2 dates for the MRE3 -

1. "It is expected the amended report will be filed by the end of September 2020". I interpret this to mean the existing MRE3 report revised to include the absent information.

2. "a new NI 43-101 Technical Report will be developed as part of the ongoing Preliminary Feasibility Study ("PFS") and is expected to be filed by the end of December 2020. The PFS Technical Report will be based on MRE#3". I interpret this to mean an updated MRE3 using expanded drill results and plans but without the fundamental changes between MRE2 and MRE3 which caused the breach. I'm not technical enough to know whether this interpretation is accurate and so readers may want to check for themselves.

[pob69] 15/9/2020 20:01

If you look at the Cornerstone release they appear just as culpable in not noting it previously so as has been noted by dartboard it could have been the FNV DD which highlighted it...