Solgold Share Discussion Threads

[greenelf] 04/6/2019 07:21

Don't treat the Equadorians as "stupid". Solg Casabel project alone projected $17bn in taxes over project lifetime. Stark choice, pander to a few individuals or chose wealth for the whole country going forward.

[1garythomas] 03/6/2019 17:33

How can you say its a non issue, this was always going to be tge problem in equador, all the red tape, companies have been waiting upto 3 years for drilling permits, solgold have been waiting long enough for there drilling permits, these countries change like the weather, no mining history, you have a left wing opposition government who are against mining, and a general election within 18months, these issues will never go away.

[1garythomas] 03/6/2019 17:27

The trouble, newcrest and BHP have spent pocket change, nothing more.

[greenelf] 03/6/2019 16:21

"all this"... total non-issue. Just watch. Solg is worth a helluva lot to a gold major. They don't take stakes in a company just for fun.

[1garythomas] 03/6/2019 16:07

Thing with red cloud, they are paid to say them things, take over etc, who's going to pay say 1 billion for solgold, with all this hanging over it, and dont forget, a general election within 18months, who knows whats going to happen then!

[lefrene] 03/6/2019 15:46

This former illegal miner has already said that it's about money and not really about ecological issues, so one would think he has invalidated his petition before it has started.

The local economy must be happy to have the many jobs that Solg has created, but then one doesn't know if there are jealousies from those who don't have jobs?

A great opportunity for a would be predator to make a low ball pounce.

[pob69] 03/6/2019 14:50

Red Cloud broker comments today on latest exploration targets Solgold $SOLG $SOLG.L $CGP #ecuador (They also summarise the latest on legal activities but nothing unknown stated)

"...We continue to believe that SolGold’s growing portfolio of exploration targets and its attractive and more advanced Alpala deposit make it a likely takeout candidate for majors."

[mikalan] 03/6/2019 14:34

Really high short-term risk factor at the moment. Good volume, but mainly sellers. Worrying!

[mknight] 03/6/2019 14:07

Gap around 21/22 .

Maybe they are going to try and fill it .

[excellance] 03/6/2019 14:06

Sad to see, and we aren't at the bottom yet!

Even 28 looks expensive, it'll probably drop as low as 22p before any recovery.

[1garythomas] 03/6/2019 13:48

If that happens, could see the share price back to the teens.

[mknight] 03/6/2019 13:42

Wednesday at 1 pm

Problem maybe the judges may not release their verdict until 20 days later .

[onedayrodders] 03/6/2019 13:26

when is D day ?

[excellance] 03/6/2019 10:37

Why wouldn't anyone short this, it's big and fat and loss making with no prospect of making money any time soon.

Look, I like solg, been in and out for years, but right now it's massively inflated on mug punter speculation, and yes a few majors have their finger in too, but they want more, and they play a longer game.

The share price will be decimated, pm's driven out...

Beware!

[lefrene] 03/6/2019 10:17

It's the small local guy hacked off because he is not getting a fair crack of the whip, he only wanted 300 hectares. He plainly thinks (he might be right) that government officials are getting back handers for doing deals with the big guys. So it looks like a 'try on' wanting a better deal for the small local operators.

Ecuador badly needs the emerging mining industry, it can't let things at parish council level deprive it of a bonanza in foreign earnings, the central government will have to enforce national need overriding local turf spats.

[pob69] 03/6/2019 09:49

Wilmer Meneses interview on his current motivations to stop mining... Solgold $SOLG $SOLG.L $CGP #ecuador

[1garythomas] 03/6/2019 09:47

Looks like someone is defo shorting this stock now, noticed over the weekend, someone mentioned blackrock.

[1garythomas] 03/6/2019 09:13

Looks like another red day, and will have this hanging around till 20th june, looking like low 20s again, sell and buy back.

[excellance] 03/6/2019 08:48

SOLG is now old hat, fat and out of fashion, ECR is the new kid on the block!

[lefrene] 02/6/2019 20:50

Rather looks like this is a group who feel cheated by the government and want redress, and thus playing the system to make themselves heard. Perhaps it's not too late to promise them contract deals when mining starts?



Machine translation
------------------------------------
Wilmer Meneses, a former artisanal miner, leads the popular consultation order to prevent the large scale mineral extraction project from running. It argues that the requirements for dissemination and consultation prior to exploitation were not met. It also ensures that this activity affects tourism and agriculture.

The Constitutional Court should examine whether the citizens of Lita, Goaltal, La Carolina and Jijjón and Caamaño, in Imbabura and Carchi, call a popular consultation to decide at the polls whether the large-scale mining project "Rattlesnake", which is planned to be implemented in the area , be concrete or not.

Who drives this popular consultation request is Wilmer Meneses, self-denominated common Procurator of the four parishes however, Meneses is recognized as a former miner and representative of this guild. He was spokesman for the Ecuamineros group, formed in 2018 by more than 10 associations.

In addition, in 2017 it would have requested a concession of 300 hectares to develop the artisanal mining, order that it did not have effect and was denied. In the judicial field, Meneses has a process for alleged illicit mining activity, which was dismissed by a judge of the Judicial unit of Otavalo arguing that there is insufficient evidence against the now impeller of the popular consultation.

The issue was not corrected since the Court of penal guarantees of Ibarra revoked this decision and called it back to trial. The fact is referred to September 2018 when Meneses was found transporting gold material from a Llurimagua artisanal mine in Imbabura. In his defense he said that the transport was a commission of Beatriz Vega, however, the prosecutor explained that the concession only authorized the exploration and not the exploitation.

Now Wilmer Meneses says he is no longer engaged in artisanal mining, which opposes the Rattlesnake project because the authorities did not carry out the processes of dissemination and consultation prior to exploitation and because this activity affects tourism and agriculture.


The reality of these parishes is that these parishes have been hit by unemployment and people have found in the artisanal and illegal mining a form of economic sustenance, as some of its inhabitants affirm.

Local authorities prefer not to talk about the issue because they recently learned of the request for popular consultation. For example, the mayor of Ibarra, Andrea Scacco, said that on Thursday he met the order that now rests at the table of the Constitutional Court.

The same ensures that the authorities of Mira and Goaltal who do not know that Meneses is the solicitor of the communities.

XB

SOURCE: El Comercio, EcuadorInmediato

[pob69] 02/6/2019 19:54

and more... on Wilmer Meneses Solgold $SOLG $SOLG.L $CGP #ecuador

[pob69] 02/6/2019 19:47

Further Ecuadorian article which details further "interesting" background on Wilmer Meneses Solgold $SOLG $SOLG.L $CGP #ecuador

"...An ex-policeman dismissed for bribery has put the mining industry in check in Ecuador and has provoked a strong reaction from the main union leaders of the country, who demand seriousness and legal security.

This is Wilmer Meneses Ibarra , who in June 2009 tried to bribe other policemen to let him send a truck loaded with 20 gasoline tanks from Lita, in Imbabura, to San Lorenzo, in Esmeraldas. Meneses Ibarra has also been identified by the authorities as one of the leaders of the illegal miners that plague the province of Imbabura and, especially, the small population of La Merced of Buenos Aires..."

[pob69] 02/6/2019 15:32

Interesting Ecuadorian article focusing on the views on the business sector concerning the legal review of interest to Solgold $SOLG $SOLG.L $CGP #ecuador (plus quote by the president and parish local in support of mining).

"...The new popular consultation initiative to define the future of mining in the Jijón and Caamaño parishes , Goaltal (Carchi), La Carolina and Lita (Imbabura) was made public on May 27, when the Constitutional Court declared its knowledge. It is planned that the public hearing to hear the parties is next Wednesday.

In view of this situation, the representatives of the Ecuadorian Business Committee (CEE), the Ecuadorian Chamber of Mining (CME) and the Chamber of Industries and Production (CIP) yesterday urged the Constitutional Court to consider what the legislation establishes regarding the handling of the natural resources . These resources, according to the Constitution , are the responsibility of the Central Government and not of the local or provincial governments. "It is not possible for a group of people engaged in illegal mining activity to call a popular consultation. We have to support formal mining, "said Patricio Alarcón, president of the CEE...."

"...The request of the business sector to the Constitutional Court is added to the one made last May 24 by President Lenin Moreno, during the Report to the Nation..... who asked "...to invite the people to decide where these resources will come from and what sources of financing will replace these revenues,"

"...For its part, the Agricultural Association Livestock Palermo (Asaganp), belonging to the parish Jacinto Jijón and Camaaño , through a statement, reject the representation of Wilmer Meneses, proponent of the request for consultation in Carchi and Imbabura . "We are not part of any association for mining purposes," they said...."

[billthebank] 02/6/2019 12:58

POSTED ON LSE!!!

It is not possible for a group of people engaged in illegal activity to call a popular consultation. We have to support formal mining, "said Patricio Alarcón, president of the CEE.

hxxps://www.entornointeligente.com/sector-empresarial-pide-participar-en-discusin-de-pedido-de-consulta/

"It is not possible for a group of people engaged in illegal mining activity to call a popular consultation. We have to support formal mining, "said Patricio Alarcón, president of the CEE.

The formal mining activity that is currently taking place in the country will represent around US $ 10 billion in revenues until 2021, the CME reported.

Santiago Yépez, president of the CME, said that the companies that work on these projects comply with the regulations, but at the same time requested legal security to develop the projects.

The companies SolGold, Newcrest, BHP Billiton, Cornerstone, INV Metals, Codelco and Hancok Prospecting operate in Carchi and Imbabura. These firms are in charge of so-called second generation projects such as Llurimagua and Cascabel.

For his part, Pablo Zambrano, president of the CIP, announced that the sector will present an appeal of amicus curiae before the Constitutional Court, to intervene in the discussion of the new request for popular consultation.

[lefrene] 31/5/2019 20:47

Yuff, if it's tribal then it's not one disgruntled miner but a whole tribe, and no doubt there are other tribes unhappy with their lot who want to screw a better deal out of the government and this could well turn into the tool to bash the government over the head. One can only hope that those 500 who stand to see their jobs threatened might make their feelings felt, but it should never have come to this.

Very likely personalities have caused a confrontation, and this bloke wants to settle the score because he has lost his living and independence. He can play the 'green card' and pretend he is doing something for the environment, and no doubt there will be plenty of grauniad types very happy to jump on the bandwagon.

The government needs to expose this case as the grudge that it is, and make it quite plain that the country needs money too badly to indulge in 'green' politics.

If the national debt is $52 billion and much of it is owed to the Chinese then it won't be too long before the Chinese government starts to take possession of things as compensation. The Chinese have taken possession of a good many substantial ports in lieu of failed debt repayments. I should think a few copper projects would be just as welcome with an apparent shortage of copper looming. The Chinese government are not going to brook interference in their operations in the way a private company has to tolerate. I'm sure the Ecuador government understands this, hopefully they will get it across to the judiciary so that these blocking things do not appear on ballot papers.