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Solgold Plc LSE:SOLG London Ordinary Share GB00B0WD0R35 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.35 -1.34% 25.80 2,274,796 16:35:16
Bid Price Offer Price High Price Low Price Open Price
25.85 26.25 26.70 25.85 26.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -18.08 -1.00 529
Last Trade Time Trade Type Trade Size Trade Price Currency
17:18:59 O 160 25.801 GBX
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Date Time Source Headline
17/9/202015:39ALNCUK EARNINGS SUMMARY: Novacyt Profit Leaps On Covid-19 Test Kit Demand
17/9/202013:06ALNCFAlliance News Flash Headline
17/9/202013:00UKREGSolGold PLC Annual Report, Full Year Results & MDA
16/9/202017:09ALNCIN BRIEF: SolGold Kicks Off Drilling At Porvenir, Ecuador
16/9/202007:00UKREGSolGold PLC Regional Exploration Update - Porvenir
15/9/202018:15UKREGSolGold PLC Clarification to Technical Disclosure
14/9/202017:21ALNCUK TRADING UPDATE SUMMARY: Henry Boot Unit In Voluntary Liquidation
14/9/202007:00UKREGSolGold PLC Completion of Franco-Nevada Royalty Financing
04/9/202015:29ALNCIN BRIEF: SolGold Non-Executive Director Weinberg To Step Down
04/9/202007:00UKREGSolGold PLC Board and Corporate Governance Update
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22/9/202018:39SOLOMON GOLD: EXPLORING 100% OWNED SITES FOR 40M+ OZ AU; JV WITH NEWMONT MINING24,982
08/6/202016:34Solomon Gold Dead But Unburried14
10/10/201914:34Solomon Gold - diversified explorer on three continents75
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16:18:5925.8016041.28O
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Solgold (SOLG) Top Chat Posts

DateSubject
22/9/2020
09:20		Solgold Daily Update: Solgold Plc is listed in the Mining sector of the London Stock Exchange with ticker SOLG. The last closing price for Solgold was 26.15p.
Solgold Plc has a 4 week average price of 24p and a 12 week average price of 19p.
The 1 year high share price is 30.65p while the 1 year low share price is currently 10p.
There are currently 2,049,657,030 shares in issue and the average daily traded volume is 3,799,738 shares. The market capitalisation of Solgold Plc is £528,811,513.74.
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18/9/2020
19:44		mirabeau: BHP Group, Newcrest Mining, SolGold: Getting bogged down or putting all your eggs in one basket When it comes to investing in commodity companies, the BHP Group (NYSE: BHP) is a household name. The British company is active worldwide, mining coal, iron ore, copper and other commodities and has long been considered a solid dividend earner. But recently the company has disappointed: Special effects put pressure on profits, unrest in Chile made life difficult for BHP and the Corona pandemic also left its mark: the bottom line at the end of the financial year at the end of June was a profit of no less than EUR 6.75 billion. While the mood among investors was not particularly good, BHP cut its dividend by around ten percent, thus spoiling shareholders’ sentiment even further. On a year-on-year basis, the share price fell by around 1.4%. In view of the good performance of copper following the outbreak of the pandemic, this is too little for many investors. Is the BHP Group buying into price fantasies? Nevertheless, there are also positive things to report about BHP. The company already successfully implemented cost-cutting measures during the past fiscal year and thus became even more profitable. It can also be assumed that the recent positive development of many raw material prices will not be felt until the current fiscal year. Even though BHP itself has a cautiously positive outlook for the future and expects economic activity to vary greatly from region to region, investors see no potential for surprises in the share price. It is possible that, as in the past, acquisitions will help BHP to get off to a good start. Newcrest profits from the gold bull market only to a limited extent When it comes to mergers and acquisitions, the name Newcrest Mining (OTC PINK: NCMGY) is always mentioned in the resource industry. The company is Australia's largest gold producer and increased its profits to USD 647 million in the past fiscal year. In recent months, it has been repeatedly rumoured that the company is on the radar of North American resource companies as a potential takeover target. Around 85% of Newcrest Mining’s production is gold, with copper being another important raw material. Although the dividend at Newcrest is traditionally lower than at BHP, the Australian company recently increased its dividend by 14%. Despite this positive signal to the market, the share price remains at a low level - on a twelve-month horizon, the share price even lost 4.6%. Tragic detail: Newcrest has sold forward parts of the production of its Telfer mine in Australia until 2022/23 and is not benefiting from rising gold prices there. SolGold: Net asset value of flagship project significantly exceeds market value In contrast, the SolGold (TSX: SOLG) share has profited from the development since March. The share has a price yield of more than twenty percent on a one-year horizon. In this context, it is interesting to note that both BHP Group and Newcrest Mining are involved in SolGold. The former company holds 13.5% and the latter 9.9%. The company is focused on the exploration for gold and copper in the Ecuadorian Andean Belt. SolGold has been active in this region since 2012 and has secured numerous mining concessions in recent years. The idea behind SolGold's strategy is that the geological characteristics are similar to those in Chile, where many international resource companies are already active. SolGold pursues a very concentrated strategy in Ecuador: While other companies focus on different locations, SolGold prefers to use the known characteristics of a region to its advantage and to develop projects quickly. In addition to the flagship Alpala project, for which a feasibility study is scheduled to be completed by mid 2021, the company has 13 other projects that are being explored with high priority. As Nick Mather, CEO of SolGold recently stated in an interview, the net present value of Alpala already amounts to USD 4.4 billion and clearly exceeds the market capitalization of SolGold - the company is currently valued at market cap at around EUR 600 million. Initial studies on the flagship project, which were prepared before the gold boom, envisage a possible mine life of more than fifty years and a payback period of four years. Investors have the choice: stability or growth Although SolGold is an exploration company and therefore speculative, the extensive portfolio in Ecuador offers promising opportunities for investors. The company regularly reports drilling results and keeps investors informed about new developments. The existing holdings of large companies in the industry, such as Newcrest or the BHP Group, also speak for themselves. Although the shares of the established companies offer stability and indirectly also a participation in the success of SolGold, speculative investors may well be interested in the emerging company. https://stockhouse.com/opinion/independent-reports/2020/09/18/bhp-group-newcrest-mining-solgold-getting-bogged-down-or-putting-all-your-eggs
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02/9/2020
18:50		mirabeau: Dear Fellow Investor, It’s rare to find a mining investment opportunity where the potential for a big payoff is both obvious and imminent At this very moment, however, there’s a special situation developing for Cornerstone Capital Resources (CGP.V; CTNXF.OTC) that promises both. Simply put, within just a few weeks one of the world’s largest copper-gold projects could go on the auction block…and Cornerstone Capital’s shareholders could be in line for one of the quickest and richest windfalls in recent mining history. 4, 3, 2, 1…Lift-Off! Here’s the story: By focusing on the mineral riches of Ecuador during a period when foreign investment in the country was out of favor, Cornerstone was able to amass a sizeable land position. Then, along with joint venture partner SolGold, the company discovered and outlined a world-class copper-gold deposit on its Cascabel project. As the deposit’s massive scale became obvious, majors BHP and Newcrest placed markers on the project by investing in SolGold, in which Cornerstone itself holds a 7.6% stake (to go with its 15% carried interest in Cascabel). Now this is where it gets interesting…. What gives this story urgency is that BHP’s unique and unusual “standstill221; agreement with SolGold expires on Oct. 19, 2020. The standstill prevents BHP from acquiring any shares in Cornerstone without SolGold’s consent unless a third party makes a move to acquire control of Cornerstone prior to Oct. 19, which would allow BHP to bid. A separate standstill also expiring Oct. 19 prevents BHP from acquiring additional shares of SolGold or colluding with anyone to acquire control of SolGold. After that date, BHP will be free to make a move on Cascabel…which would potentially result in a takeout of Cornerstone at a much higher share price than it’s trading for today. A Truly World-Class Copper-Gold Resource Why would BHP, the world’s largest mining group, make a play for Cascabel? Because, in a world where Tier 1 copper-gold projects have become vanishingly rare, this project’s Alpala deposit stands out for its sheer scale. In a recent story by S&P Global Market Intelligence, BHP Group CEO Mike Henry indicated that BHP would look to exploration and early-stage partnering to find its own new resources in places like Canada, Mexico, and Ecuador. This sounds a lot like the position BHP has taken in SolGold and Cascabel. A recent resource estimate on Alpala shows it containing a measured and indicated resource of 9.9 million tonnes of copper, 21.7 million ounces of gold and 92.2 million ounces of silver. It contains another 1.3 million tonnes of copper, 1.9 million ounces of gold and 10.6 million ounces of silver in the inferred category. According to a 2019 PEA on the deposit, that translates into a mine with a 55-year life …and the ability to produce an average of 207,000 tonnes of copper, 438,000 ounces of gold and 1.4 million ounces of silver annually in its first 25 years. This project is truly massive — and massively profitable. With an after-tax NPV, discounted at 8%, of $4.3 billion and an IRR of 25.9%, this project is obviously on the radar of the world’s major mining companies. And with an initial capex of $2.7 billion, Alpala will require a major’s access to capital to put it into production. A Hostile Takeover Bid Highlights The Potential Of course, that hasn’t stopped SolGold from giving it a try. The Australian company owns 85% of Cascabel and, right now, is calling the shots on how the project advances. And, after a working relationship that had been very amicable, in early 2019 SolGold made the first of what would be two hostile bids for Cornerstone. Cornerstone’s investors promptly rejected this first bid as inadequate. Then, in June of this year, SolGold made another hostile bid for Cornerstone, essentially for the same price as its first offer (even though gold prices are on a tear and copper is making a strong rebound from its mid-March lows). The deal values Cornerstone at C$3.78 a share. In rejecting this second offer, the company argues that its 21.4% interest in the project argues for a much higher price. In a recent rebuttal to SolGold’s offer, Cornerstone made the following points: • SolGold’s offer is 56% less than the C$8.60 share acquisition price of Cornerstone’s top three shareholders • BHP’s 13.6% interest in SolGold, acquired in 2018 and 2019, implies a C$11 price for Cornerstone • Newcrest’s 13.6% interest in SolGold, acquired by block purchase in December 2018, implies a C$13 price for Cornerstone • Precedent transactions for projects of Cascabel’s scale have averaged $0.07/lb. copper-equivalent, which would imply a C$18 valuation for Cornerstone Note that those valuations range from two to well over four times Cornerstone’s current share price! Given this, it’s easy to see why Cornerstone’s major investors again flatly rejected SolGold’s latest offer, which expires on Oct. 14, 2020. The Investment Window Is Closing Fast That date isn’t coincidental, as it occurs five days before Oct. 19, 2020, when BHP’s “standstill221; agreement on its SolGold stake ends. At that point, the major will be free to work with Newcrest and other investors on a deal to acquire Cascabel. And the clock is ticking on the project: the Ecuadorian Mining Law requires a feasibility study on the project be produced by 2022. So, if BHP wants to get their team on the ground to generate their own study in time, they’ll want to move quickly once its SolGold standstill agreement ends. And considering the rarity of an asset of this size and profitability, whatever offer BHP makes for Cascabel is likely to be in that range of much higher valuations that Cornerstone has laid out. But your window of opportunity here is closing fast. As we approach Oct. 19, Cornerstone’s share price is likely to begin rising in anticipation of action on BHP’s part. If you want to maximize your potential gains on this special situation, now is the time to do so. END
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22/8/2020
19:17		gersemi: Cornerstone Resources (TSX-V: CGP) The Founding Partner of the World-Class Cascabel Copper-Gold Project Posted on August 13, 2020 by Alex Deluce 13 Aug Gold continues to showcase its strength in times of economic uncertainty. The precious metal has been on a relentless run these past few weeks, with spot gold trading as high as $2070 an ounce this past week. Gold continues to rally as global central banks continue to print an abundance of money and monetize government debt. At the same time, fiscal spending on a global basis to support local economies is unprecedented as well. All this debt has many market participants preparing for extreme inflation in the years to come. In fact, U.S yields continue to fall into deeper territory by the day, which clearly is a very bullish catalyst for gold moving forward: In saying that, a company that looks to benefit with elevated gold prices is Cornerstone Capital Resources (TSX-V: CGP). Cornerstone is the founding partner of Cascabel, the only available Tier 1 copper-gold asset in the world not owned by a global, multi-national mining company. Cornerstone owns a 15% carried interest in Cascabel and 7.6% of project operator SolGold (LSE/TSX: SOLG) or effectively 21.4% of the world-class Cascabel project. The Alpala deposit is the main target in the Cascabel concession, located on the northern section of the heavily endowed Andean Copper Belt, the entirety of which is renowned as the base for nearly half of the world’s copper production. The project area hosts mineralization of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. Alpala has produced some of the most significant drill hole intercepts in porphyry copper-gold exploration history, as exemplified by Hole 12 (CSD-16-012) returning 1560m grading 0.59% copper and 0.54 g/t gold including, 1044m grading 0.74% copper and 0.54 g/t gold. The 2019 Cascabel PEA showcased the world-class economics behind the project: The company owns a 15% carried interest in Cascabel – resulting in a free ride until completion of a bankable feasibility study. The PEA showcases the robust nature of the asset as when Casabel is eventually in production, in its first 25 years it will produce on an annual basis: 207,000 tons of copper 438,000 ounces of gold 1.4 million ounces of silver The PEA was done with the assumed metal price of: $3.30/lb copper $1300/ounce gold $16/ounce silver Presently, copper is trading at about $2.85/lb. However, gold and silver are currently much higher than the assumed metal prices when the PEA was completed. Spot gold is now near $1925 an ounce, and spot silver is at nearly $26 an ounce. This only improves the economics of the project as the NPV only increases, and the payback period is reduced. The current share price reflects a 60% discount to the C$8.60/share price that the 3 major shareholders acquired their shares at. The present market capitalization of the company today is $116 million. We recently caught up with Brooke Macdonald, Chief Executive Officer of Cornerstone, to talk about the company as well as plans for the remainder of the year. Alex Deluce: Thanks Brooke for taking the time. I am excited to introduce the Gold Telegraph readers to the Cornerstone story. Most notably, the company is the founding partner of the world-class Cascabel copper and gold project, can you give readers and bit of a history of the company and how the company got involved with this world class asset? Brooke Macdonald: Cornerstone has been involved in Ecuador since 2005. In early 2011 we acquired the rights to the 5,000 hectare Cascabel concession in an area of NW Ecuador that had tremendous geological potential but little systematic exploration. Cornerstone was the operator of the project in the beginning stages right through to the discovery hole # 5 in February 2014 when we intersected over 1.3 kilometres grading > 1% copper equivalent. We handed over operatorship of the project to SolGold in September 2014 pursuant to an earn-in agreement. As you know, we are a prospect generator following the joint venture model typically bringing projects to the drill-ready stage and then look for a funding partner to earn-in to the project by funding the drilling and “carrying” us to completion of a bankable feasibility study. As no majors were working in Ecuador back in 2011, we brought in SolGold Plc as a partner. Although SolGold is a junior, we had worked with their then CEO successfully on another project in central Ecuador and they were keen to become our partner. Ecuador has since become a more mining friendly jurisdiction attracting meaningful interest from the majors. BHP and Newcrest each own 13.6% of SolGold. Franco-Nevada has conditionally agreed to provide feasibility study funding to SolGold in return for an NSR royalty on SolGold’s share of the project. Alex Deluce: The PEA showcases the incredible scale and life of the Cascabel asset, with the company having a 21.4% interest in the project. What is the next step for the project? Is it the feasibility study? Brooke Macdonald: The Alpala deposit at Cascabel hosts a world class resource of over 21 million ounces of gold, over 21 billion lbs. of copper, and over 92 million ounces of silver in the M&I resource category with almost two-thirds of that in the measured category. The Alpala deposit PEA outlines a base case 55-year block cave operation with an after-tax NPV at an 8% discount rate of US$4.3 billion and an IRR of 25.9%, and initial capex of US$2.7 billion. Cascabel is the only Tier 1 copper-gold asset in the world not owned by a major mining company. The Alpala deposit comprises less than half of the initial 13 or so porphyry targets on the property, which have not yet been drill-tested. SolGold is currently working on a Pre-Feasibility Study scheduled for completion by the end of the third quarter this year. The next milestone after that will be the definitive Feasibility Study which SolGold has announced should be completed in the second half of 2021. Cornerstone’s 21.4% interest includes a 15% interest carried through to completion of the definitive feasibility study, which is repayable out of our share of project earnings at LIBOR+2%, plus a 7.6% shareholding in JV partner SolGold. Alex Deluce: Cornerstone has significant insider ownership; can you talk about your equity structure alongside who are some of you key supporters? Brooke Macdonald: We have 32.4 million basic shares outstanding or 35.8 million shares on a fully diluted in-the-money basis. Our largest shareholders are Maxit Capital/Bob Sangha, the leading M&A advisor to the mining business on Toronto’s Bay Street, with nearly 20%; our Chairman Greg Chamandy, who is the co-founder of Gildan Activewear and its former Chairman & CEO and the former Executive Chairman of Richmont Mines, owns 10.8%; Rosseau Asset Management, a highly successful group of funds run by Warren Irwin, owns 10.5%; and Sprott/Global and clients have around 5%. Cornerstone is currently trading at a significant discount to the C$8.60/CGP share that Cornerstone’s top shareholders acquired their shares at. BHP’s cost base of 33 pence/SOLG implies C$11/CGP share. Newcrest’s block purchase in December 2018 at 40 pence/SOLG implies C$13/CGP share. We believe our 21.4% interest in Cascabel provides an attractive opportunity for a potential acquirer to secure a strategic position in the project superior to any other SolGold shareholder. Alex Deluce: With gold at an all-time high and with the resource being so rich in gold, silver and copper the company obviously has extreme leverage to the prices of these elements with the material in the ground. On top of the Cascabel asset can you also talk about some of the company’s other assets? Brooke Macdonald: We have a strategic exploration alliance (SEA) with Ecuador’s state mining company ENAMI and are earning into an 84% interest in 9 highly prospective concessions in the same general area of NW Ecuador as Cascabel. We are still at an early stage, but the the size and intensity of the anomalies and the outcropping mineralization are similar to those we identified at Cascabel back in 2012-2013 when Cascabel was at a similar stage of development. Cascabel totals around 5,000 hectares; the 3 concession blocks in the ENAMI – Cornerstone SEA (Espejo, Rio Magdalena and Playa Rica) total around 42,000 hectares, and none of the targets on the 9 concessions within the 3 blocks have ever been drilled. The Espejo, Rio Magdalena, and Playa Rica blocks were identified and ranked by Cornerstone in 2015-2016 as highly prospective after an exhaustive analysis of public and private information available at the time, reserved by Cornerstone Ecuador S.A. (CESA) after the opening of the cadastral map and then transferred to ENAMI for inclusion in the SEA. We believe we have secured some of the best areas in this largely unexplored region of north west Ecuador. We have 100% of the Bella Maria gold project that borders the NE corner of Lumina Gold’s Greater Cangrejos gold property, where they have announced an indicated resource of 10.4 m oz Au in the indicated category and 6.3 m oz. Au in the inferred category. Bella Maria has exceptionally high gold content in stream sediment and free gold panned samples over the entire property. Soil geochemistry has outlined a 3 km x 2 km gold – copper in-soil porphyry style anomaly in the center of the concession, and 7 mineralized prospects. The project is almost drill ready. It has an environmental registration for surface exploration granted in January 2020, that we will apply to amend to permit for drilling once final drill targets are identified. We have an option to own 100% of the Caña Brava property that hosts epithermal gold-silver targets on top of shallow porphyry gold-copper style mineralization. This project is drill ready, it has an environmental registration for scout drilling, only the water permit and social license are pending, following receipt of which a Phase 1 drill program of 15 holes/6,000m is planned for early 2021 by our funding partner, Newcrest Mining, which is earning an interest in the project. Details of the arrangement can be found on our web site. We also have an interest in the Bramaderos Au-Cu project in southern Ecuador. Sunstone Metals of Australia is project operator with an 87.5% interest, and is funding 100% of drilling on multiple targets. Cornerstone has a 12.5% interest carried by Sunstone through to the start of commercial production repayable at LIBOR+2% out of 90% of Cornerstone’s share of earnings or dividends from the Bramaderos project. A phase two drill program is about to start on the project. And in Chile we have the Miocene gold project targeting epithermal gold-silver and porphyry gold-copper deposits along the interpreted northern extension of the Maricunga magmatic belt which hosts several world-class gold deposits. The Miocene claims were selected using a proprietary database and we feel Miocene offers tremendous potential for discovery. This project is also the subject of a farm-in arrangement with Newcrest, details of which can be found on our website. It is anticipated that, subject to COVID-19, during the 2020-2021 austral summer Newcrest will initiate a Phase 1 diamond drill program at Miocene. As you can see, we have more than enough other projects for a SpinCo when we sell our 21.4% interest in Cascabel. Alex Deluce: For the remainder of the year, what types of things should investors look for when following Cornerstone? Will there be any work programs at the other assets? Brooke Macdonald: We are looking to increase shareholder value through our initiative to requisition a shareholder meeting of SolGold to be held after October 27th to change the SolGold Board. We expect all sophisticated shareholders plus Newcrest and BHP will support a capable board put forward by Cornerstone at that time. We would then look to convince the new Board to launch a joint strategic review and sale process with Cornerstone to open up the data room to a wider universe of companies and get competitive tension to maximize value for shareholders. The sale process could be structured in such a way as to allow third parties to competitively bid given the concentrated ownership that would support a friendly deal and ensure success. BHP will be released from its standstill and shareholder support obligations with SolGold on October 19th and free to discuss strategic initiatives. They are likely interested in owning Cascabel given that so very few assets of this size are available in the world. With copper prices moving up, and gold above $2,000 an ounce, we believe someone will make a move towards end of the year. On the other projects, we expect further drilling results from Bramaderos, possibly the start of a drill program at Miocene in Chile, and possibly the start of a phase 1 drill program at the Espejo and/or Rio Magdalena blocks in our ENAMI strategic alliance in the 4th quarter, but all of this is subject to the COVID-19 pandemic allowing us to get back into the field, and to us securing a funding partner for the drilling at the ENAMI projects. Alex Deluce: We would like to thank Mr. Macdonald for his time, we will be following up with him in about a month to provide another update. The company trades on the Toronto Venture Exchange under the symbol CGP. The company’s present market capitalization is $121 million. HTTP://www.goldtelegraph.com/cornerstone-resources-tsx-v-cgp-the-founding-partner-of-the-world-class-cascabell-copper-gold-project/
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12/8/2020
11:46		lowtrawler: The IRR will tell you the discount rate at which the NPV becomes nil and so the actual expected rate of return based on all the other assumptions made. Those assumptions will include commodity prices.If you are Barrick, you replace the gold price assumption with $1200 but what is your view? Once you have adjusted for your view of prices (and any other assumptions you disagree with), you recalculate the IRR and if it is higher than your required discount rate, you invest.Using your discount rate, the NPV is the maximum potential worth to the SOLG share price but you have to scale that back for other types of investors such as royalty streaming and new equity raising.
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03/7/2020
12:37		lowtrawler: In my view, the next few months will present the best investment opportunity I have seen in the last 25 years. What do I mean by best? - I believe there is little to no downside in the current SOLG share price. The value of Cascabel alone far exceeds our current market capitalisation and so even with a few trips and stumbles along the way, there is a return at the current price. - Our Regional Exploration programme is just getting underway and over the next few months we will get a regular stream of updates and there are high expectations for what some of those results should look like. We know from experience that a positive result could double our price over night and maybe more. - We have hung a "come and get us" sign-up enticing a takeover in October or sending a message to leave us alone if you don't. Most expect there will be a bid and where there is one, many will follow. A competitive bidding process would multiply us from the current price. This all leads me to my uncharacteristic view that you cannot lose by investing in SOLG at the current price and that within months, there is a very good chance to multiply your money. I have not seen such a clear-cut opportunity in my 25 years of investing.
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22/6/2020
15:29		rougepierre: Hi low trawler I'm sorry but I have to completely disagree with most of your post. Solgold is now a gold play...mature gold reserves are being played out across the globe. My own view is that the current weakness is down to two converging factors: The recent Placing...it is not at all uncommon for a share price to languish and even slip below the placing price...one of the main reasons is weak placees or underwriters feeding shares into the market, which doesn't help the short term knock to confidence of investors disappointed with 21.5 having been over 30p only weeks before; The second reason is that undoubtedly Cornerstone are steadily selling into the market...and why wouldn't they? The weaker the SOLG share price the better the terms they get on the share swap if they get taken over. Irrespective of this, CGP clearly have a working capital problem and SOLG shares are the most cost-efficient way to raise cash at the moment. Why would either BHP or Newcrest walk away...they have 14% of what will be a major global play that either they or another prospective buyer like Barrick could make worth over 100p, especially if the gold price continues to rise to $2,000 or more (as predicted by Goldman Sachs). Mature companies like these don't 'take the huff' and shoot themselves in the foot by dumping stock that could end up being worth five times as much if they simply hold on until a buyer emerges... Worst case for Newcrest, they end up block caving Alpala, with a tidy income stream and steady capital gain; Worst case for BHP...they end up with a stake in a major global competitor or have to sell out for much more than the highest price they paid... The markets are 'efficient'...prices are determined by supply and demand...at the moment there are sellers, but if they get exhausted or the gold price continues to rise, demand will outpace supply and the shares will rise... Meanwhile we are going to get a steady stream of drilling results while on the sidelines up to nine prospective bidders play 'chicken'... AIMHO as usual...
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07/5/2020
10:01		phattrader1: Lefrene - we have to be grown up enough to admit our mistakes and learn from them. We don’t lose - we win or we learn. Anyway - SOLG share prices has correlated with Gold share price for 2020, so any material events like funding are welcome noise to further derisk this investment.
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19/3/2020
15:39		fsawatcher: i woz right then dollar weakens and gbp rises SOLG gets dumped the support in SOLG share price was down to a forex traders by looks of things the more good UK news, the worse SOLG share price if dollar based so funding must be dollar based i crak it this goin to track dollar pound ration nows if gbp go back above 120 watch solg go sub 11
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18/2/2020
09:58		lowtrawler: If we look at the SOLG share price logically we can establish the following:1. Initial news that cascabel was likely a tier 1 mine caused the price to jump over 40p.2. Local court cases challenging whether the resource could be mined caused the share price to fall to around 30p. The court cases were defeated.3. Lack of news and boredom saw the share price drift to low 20's.4. Political instability in Ecuador saw the price fall to 17p. When this was resolved, the price recovered to around 20p.5. Worries over funding have reduced the price below 20p.Other than funding worries, we are in a better position today than when the price was over 40p. The recent news flow gives a lot of confidence that funding will be resolved soon. Overall, we are in a more investible state than when the price was over 40p. I fully expect the price to increase rapidly over the next few weeks.
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11/2/2020
10:52		lowtrawler: I think we should all be looking forward to the information flows likely to come this year: 1.MRE3 – due this quarter. Unlikely to impact the share price by much unless it is a reduction on previous indications. 2.PFS - This is likely to move the share price a reasonable amount depending on outcome. 3.BFS – This will flush out the investors, including Cornerstone, and is the most likely point for any takeover action. There are other possible news impacts which cannot be predicted e.g. Ecuador’s political climate; Global economic activity etc. However, your view on the SOLG share price should be based on: 1.Your view on what each of the studies will say. 2.When you expect each of these studies to be complete. 3.Whether you think SOLG can fund through to delivery of the BFS and beyond. The lack of current news is leading to relatively random movements in the SOLG share price and should be unconcerning for any long-term holders. I am fully invested in SOLG but concerned how quickly they will be able to progress from MRE3 to PFS and BFS. They don’t have much cash to cushion any delays and so may need to seek additional interim funding unless they break the habit of a lifetime and start to deliver ahead of schedule. I am hoping that BHP may give them the resources and discipline to stay on track but fearful if the BFS timetable slips significantly.
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