Solgold Share Discussion Threads

[mikalan] 07/6/2019 08:33

I've always liked SOLG, going back years. Story now way better than back then.

Sold out, for once at a good time!

Want to get back in, just hard to pick the time. Almost did on Tuesday, glad I didn't.

Anyone got a feel for where this will land (not you 1GT :)). I'm thinking mid twenties. I guess it's a gamble on the ruling of the court case. Is the ruling expected in the next week, just a ruling on whether or not there is a case to answer? in which case, if yes, this is going to get very protracted.

[dmitribollokov] 06/6/2019 21:09

Smashing it again pob69, tip my hat in your general direction.

[lefrene] 06/6/2019 20:44

Thank you pob69, you are very good at searching the net, I can never find what I want!

machine translation

Bar. From the Palermo Agricultural Association, they reject what was emitted by the Constitutional Court of Ecuador, which calls for a popular consultation on the mining issue.

"Do you agree with the mining in the territories of the communities seated in the parishes of Lita, Carolina, Jijón and Caamaño and Goaltal?" is the question that generates the rejection of the association located in the parish Jacinto Jijón and Caamaño in the canton Look. Its president, Omar Lara, specifies the causes of this disagreement.

Why not participate in the consultation?

Nobody has socialized it, we want it to be done within the legality and with social justice.

Do you support a mining operation in Jacinto Jijón and Caamaño?

My personal appreciation is that I would agree with a responsible mining that does not affect water sources.

Why do you support responsible mining?

Because we need the country to have economic support, resources to solve basic needs of the population.

In the sweetie (Mira) an illegal mining was already practiced...

I think that is why the interests of forming associations and to raise and seek prominence in the mining issue to see if they get a contract of operation or start the mining titles legitimately concession.

Why do you care about the consultation? It causes us concern towards the State, that any reason for consultation seeks to promote illegal mining. We are concerned that you want to minimize the fact of a legitimate consultation.

Are you concerned about what President Lenin Moreno (in the report to the nation) said that, given the case of reversing concessions, the people will have to respond to the alternatives to obtain economic resources?

I believe that there are areas that must be respected.

Above the population who opined in Girón (A-Zuay), not in mining, there must be sensitive areas that may affect the population directly.

Don't you want people to manifest themselves on mining?

There has been no socialization about it.

In this case, he is attributed and Planteándola in four parishes. Every parish has its uniqueness.

Why do you refuse Wilmer Meneses to lead the popular consultation proposal?

Because we understand and know that it pursues mining issues. He has a legally established mining association, but he is also engaged in illegal mining.

It's not consistent with one thing or the other. He hasn't been chosen to represent us.

What interest can you have?

I'm not aware of your interest. But, if you are already engaged in out-of-law activities, such as illegal mining, and you also have associations, you may be pursuing some reversion of some title, perhaps starting a trading contract for artisanal mining.

[pob69] 06/6/2019 20:04

Interesting interview with Omar Lara, president of the Palermo Association, based in the Jacinto Jijón y Caamaño parish (Mira canton) who is not in support of Wilmer Meneses's actions $SOLG $SOLG.L $CGP #ecuador

"...My personal opinion is that I would agree with responsible mining that does not affect water sources."

[pob69] 06/6/2019 19:25

Additonal coverage from the UK's Cityam (which I don't recall mentioning Solgold before) $SOLG $SOLG.L $CGP #ecuador

[pob69] 06/6/2019 19:10

Some good news; coverage from the UK's Investor Chronicle for Solgold $SOLG $SOLG.L $CGP #ecuador

Conclusion...Should the market under-appreciate the value of the project, there's the chance of a bid. Recent gold miner takeovers in North America have not been at large premiums, but SolGold is likely to be targeted for its copper holding, and the red metal is in a different position. The most recent major deal was Zijin Mining taking over Nevsun Resources for its Timok project in Serbia for $1.41bn last year – a 57 per cent premium. A sweetener would certainly be needed to convince Mr Mather, who owns 4.9 per cent of SolGold personally, as well as a stake in DGR Global, which owns 11 per cent of the shares. Buy (at 30p).

[pob69] 06/6/2019 16:34

Worth noting Cornerstone's news release which offers more information than that offered by Solgold concerning the Constitutional Court of Ecuador session yesterday #Cascabel $SOLG $SOLG.L #ecuador

The oral arguments included, among others: (1) that the Court should deny the petition for a local referendum because these kinds of referendums are unconstitutional to decide matters that are within the exclusive competence of (a) the National Assembly to legislate on, such as mining, and (b) the National Government to administer, such as the granting of concessions and the issuance of environmental permits; and (2) that the petition was, in substance, a thinly veiled attempt to commit a fraud on the Constitution by seeking to amend it without doing so through the National Assembly.

Representatives of workers and communities at the Cascabel project spoke eloquently in favour of how their lives had changed for the better since Exploraciones Novomining S.A. (“ENSA”) began work there, as did community representatives and workers of Cornerstone in the area of its strategic alliance with ENAMI who spoke out in favour of Cornerstone. Many local people mentioned that the petitioner for the referendum did not represent their interests.

[mknight] 06/6/2019 14:58

Not high volume for currently 12 percent down . When you consider there are nearly 2 billion shares .

[mknight] 06/6/2019 14:45

Ok so what price for a CC won.. 38p

What price for a loss.... 20p


Odds 4/6 win .... 6/4 loss


Shareprice next week?

27 to 29 buy

32 and above Sell.

[lefrene] 06/6/2019 12:57

mknight,

As a pure guess, being a mountainous country each valley will have it's own tribe and own way of doing things, which is fine until something of a national scale and importance gets caught on a local hook. It would seem that central governments have never got around to passing legislation that separates those things of national importance, from local issues. This incident might well prompt them to do so?

The whole mining industry must be watching closely and perhaps making it clear to the government that the outcome is critical. You can't invest in a country where a local with a small scale grudge can hold you to ransom.

I know from owning a property in France that French central government rides rough shod over local issues, if they deem something to be of national need. I witnessed an entirely unnecessary new road being forced through good farmland to create a 'short cut' that no one wanted. No local wanted it, it was simply a 'make work' wheeze to use up EU funds. It didn't affect me, but I noted the excellent local politics at parish level, was simply swept aside if central government wished it.

[lefrene] 06/6/2019 12:33

If Ecuador wishes to present itself as a 'safe' place to do business, it needs to get it's act together. Because as you say mknight there are other places that can be mined, and this is already the second bite of the cherry, big business won't come back if the gate is shut again.

But how the heck did it come to this in the first place? How can a grudge match at parish level come to such that it can jeopardise an industry of crucial national importance?

[mknight] 06/6/2019 12:01

There is only so much the large mining companies will take . The world is large if this goes against SOLG BHP etc
Then Ecuador may not get a second chance .

Those roads .schools hospitales cannot get built without money .

[lefrene] 06/6/2019 11:56

I believe the current administration is working hard to reduce corruption, and quite possibly the irony is that this disgruntled person would most likely have been bought off in the past. Now we are in a situation where due process has to be seen to be done.

The locals are getting jobs and technical input to improve agriculture and education, they know this will vanish if the mining industry is crippled. Of course if the big miners are forced out then the illegal and very environmentally unfriendly 'artisanal' miners will have free reign.

[zcaprd7] 06/6/2019 11:46

Well, it's all about perception.One can't pay lip service to corporate social responsibility these days.The government are just as bad, saying that "they will generate lots of tax revenue" isn't going to help the locals who have to deal with it (especially after the corrupt government officials have siphoned off all the money).Build more schools and hospitals for the workers etc etc.

[yufff] 06/6/2019 11:31

All the vibe from Solg is that the decision will be dictated by the govt.

Let the traders have fun.

A lot can happen between now and decision date.

[mam fach] 06/6/2019 11:02

True. Looks like any share price movement is delayed.
I'm hanging on to mine.

[onedayrodders] 06/6/2019 10:41

What this has done perhaps is remove the need to buy in the short term and allow traders to hop out.

I'm still in cash and see no need to panic given today's news.

[lefrene] 06/6/2019 10:21

mknight, unhappily one knows only too well that common sense and the law are strangers. Although I suspect one commonality will be that those involved in the legal process will milk it for as much as they possibly can.

[mknight] 06/6/2019 10:15

The government cannot afford to lose this CC . Can 8000 people stop mining ..

I think not .

[lefrene] 06/6/2019 10:04

I hope there are a few shouting matches going on in Quito, along the lines of, "who the hell allowed this to happen!" It will focus minds on how not to lose the golden goose that mining could become. They know full well that mining will lift their country to first world standards, and by the sounds of it the majority of the locals know this too.

[onedayrodders] 06/6/2019 09:57

good point

[zcaprd7] 06/6/2019 09:52

Slight change in tone methinks... Less gung-ho I reckon, more respectful and less arrogant.

[onedayrodders] 06/6/2019 09:48

as you were then for now ... no change in status and just a reiteration from NM