Solgold Share Discussion Threads

[fsawatcher] 04/5/2020 14:21

read the transcript jammy

no placing via equity

it either cb's or streamin or sommat else

[jammytass] 04/5/2020 14:19

20p placing?

[fsawatcher] 04/5/2020 14:17

I know the transcript inside out

What I what to know is dozyducks prediction for the fundraise.

The silence is like when your ears go quiet... deafenin innit

dozyduck like to talk aot but if you read what hes sayin theres nuffin in the text that tells you anythink

come on dozy... i make it easy for yous

if it cb's... what the conversion price then?

If it streaming - then what the price

Go on dozyduck... lets be avin you as famous rotund with rotten teeth chefess once said

[nas_daq] 04/5/2020 14:06

Lol....seen less waffle in the frozen food section of Waitrose

When you have to resort to that sort of PR to try and sell funding you know things aren’t great....

[pob69] 04/5/2020 13:27

Thanks Rouguepierre for that valuable reminder of something real - direct quotes from real people (look em up - they exist) rather than blowhard opinions from invisibles (in fact am I for real? What's my motive?....) on a bulletin board.

Reminder that registration for another really valuable webinar with real people 6 May with Nick Mather on roundtable with René Ortiz, Minister of Energy and Non-Renewable Natural Resources Solgold $SOLG $SOLG.L $CGP #cascabel #ecuador

The Role of Mining in Ecuador's Economic Reactivation

hxxps://events.thebusinessyear.com/detail/the-role-of-mining-in-ecuadors-economic-reactivation#schedule

[rougepierre] 04/5/2020 13:16

FSA read the transcript...

[rougepierre] 04/5/2020 13:15

Its quite clear that this week's financing will be to fund through to final feasibility (and also include some funds to carry on drilling out other projects, starting with Rio Amarillo and Porvenir...

[fsawatcher] 04/5/2020 13:15

I dont think there will be a 'next year' coz bhp not gonna stretch their lock in further as that just give solg more time

I'm still waitin for dozyduck to tell me what his expert view is coz all he done so far is talk utter tripe

You got $150m to be raised Dozyduck. So how do you do it and at what price.

Come on pipe up... waiting

[lowtrawler] 04/5/2020 13:05

I think you'll find everyone on here is acutely aware that we need funding. However, the 150m to be announced this week will be enough until next year. If the board can announce longer term financing in the next few weeks (as they have suggested), I will be both surprised and delighted.

[rougepierre] 04/5/2020 13:02

As you clearly still haven't listened to the webinar and prefer to lob out random opinions, Nasdaq, here are the highlights (verbatim)...

Enjoy!

"There's a number of ways of funding the Feasibility Study and the ongoing exploration work and the most expensive would be straightforward equity...

There's obviously going to be some equity finance in the future...we would prefer to minimise that while the market price is low in relation to the value of the project...

We are receiving a lot of interest from corporates that are prepared to put up funding not only for construction but also the Feasibility phase of the project...

We are getting a lot of interest, including equity, convertible notes, straight debt all the way out to future streams..."

INGO says "As regards to the short term there's a broad base of different financial instruments we can utilise. Some are pretty advanced as we outlined at the beginning of March. We want to close in the next couple of weeks (webinar was 23 April) and we are on track to do so..."

NM "A deal with one of them (concentrate and off take smelters) is possible in the near future on a conditional basis...we wouldn't have announced it if there wasn't a good chance we could nail a deal like that..."

INGO "These discussions (with smelters, etc.) started in the second half of last year...we got ten qualifying bids (from traders)...we have lots more demand for our product than we have supply, at any point in time (of the project) and thats only from traders, (because of) very favourable logistics but most importantly because of the metallurgical qualities of the concentrate in the first ten years...30% copper; 30/40 grams of gold; silver; and very low proportion of deleterious materials, well below penalty levels...multiple smelters in China, Japan and Korea can use this product, Indian smelters because of the high gold content...at least a handful in Europe...this is why traders are so interested in commercial terms and these are in all aspects better than the assumptions under the PEA..."

NM "We've completed the majority of the drilling for the project...we don't need to do any more to determine 'Life of Mine'...the confidence we have in the figures is very very high and that's going to show through in the financing deals...and the discount rate that's applied to the economic analysis...the PEA was done at a discount rate of 8% and we'll probably see that drop when we do the (PFS) and final feasibility financial assessment...its already looking like a 4 year payback vs a 55 year mine life...which is a financier's dream...enquiries that we're getting from financiers certainly endorse that view..."

NM "We can't of course always defend ourselves against aggressive takeover bids but we've appointed Citi...recently to assist with takeover strategies...the best defence strategy is to have the share price higher; the best way to get the share price higher is to push rapidly towards a feasible and financed development and that's what we're doing...we're lucky...to have a project that is well endowed with gold...the variety of financing strategies being thrown at us particularly from the gold financiers

"We have geologically similar prospects littered through the country...Ingo is finding that the financing discussions removing ahead at a faster rate than originally envisaged...

It is still currently the intention to make the offer (for Cornerstone), but (the documentation of the offer document) keeps changing...we're being trapped by more that we know about that isn't yet ready to announce to the market...

There are bonanza grades there (at Blanca) but...we've simply been focused on Alpala...

We weren't able to buy shares...I wish we had been able to...we haven't been able to get Board permission because there was too much financially sensitive information out there...I wish I'd been hoovering them at 11.1/2 or 13 or whatever they got down to...

The current schedule on PFS is end of Q3 this year...

From a structural and a tax perspective, selling (Alpala) is a disaster...it would be heavily taxed and which would need an outrageous price...

There's going to be a number of things that are going to drive Solgold's future...the copper market is undoubtedly going to return after the end of COVID...there's a lot of mines in Chile that are suffering declining grades (and several other problems) the list goes on and on...its highly likely that Alpala and the other projects will become jealously regarded by financiers, shareholders and acquisitive majors...who all have publicly stated that they need copper...

As to the specific value...the PEA talked about a range as low as $2.6 billion to $7 billion, with a mean of 4.3 billion...when we get to PFS we'll be using a lower discount rate, a higher gold price and higher gold recoveries, so I think the NPV will increase as we get to Full feasibility and also the proportion of NPV that will be ascribed to Net Asset Value, so..around full feasibility the it'ill be around 30/40%...the fair value will go up and the confidence levels that can be applied to it will also increase..."

INGO "there's plenty of demand for the product and so there's plenty of demand for the financing..."

NM "pretty much no interest in divesting (the Australian and Solomon Islands investments)...we could farm out the Australian ones but we have way too much interest in the Solomon Islands because of the high values...

" our list of prospects is like a chicken soup with exciting bits constantly bubbling to the top...

[mknight] 04/5/2020 12:55

Phattrader1 today i doubt .

[mknight] 04/5/2020 12:51

Nas daq

I agree but i dont expect it all .

[phattrader1] 04/5/2020 12:48

$150m will be part of offtake agreement.

Why complicate things!

News today or tomorrow.

[nas_daq] 04/5/2020 12:48

LowtrawlerI'm more aligned to DDs view and he is much better at putting those figures across.I've been around long enough to see what ramping is and what genuine investments are and dozy duck, in my opinion, is much closer to reality than most on here.This all comes down to one issue and that's funding ....have they got it or not, everything else is irrelevant no matter what is posted....

[mknight] 04/5/2020 12:44

Asset for me FSA. For 150m

Could see equity as well.. above the Sp probably 30p+ imo

Would be nice if the equity was Río and Barrick

[fsawatcher] 04/5/2020 12:41

DozyDuck,

Can you tell me how the $150m will be raised and at what price whether that be on asset or on equity.

Fankin yous

[dozyduck] 04/5/2020 12:17

ND - the other thing to realise about company bosses (I'm not denigrating them. I admire them for their enterprise) is that they wouldn't be in the business unless they are super-optimistic. Its an investors job to work out just how super- they are.
And especially for miners (and biotechs) who have to raise cash to develop their companies, they have to play a poker game with investors. They want investors money at as high a share price as possible. Investors want their shares at as low a price as possible. For them to believe that their and their bosses interests are 'aligned' (as bosses will tell them) is somewhat naïve.

[mknight] 04/5/2020 12:17

Nas daq not even 1%

[dozyduck] 04/5/2020 12:15

ND I've posted about many sells (about 40 in last 4 years) - 95% accurately - on other outlets. My best was SXX - the only person to do so,

[lowtrawler] 04/5/2020 12:04

ND, you express a lot of cynicism but few facts. Unless you start contributing by basing your concerns on a firmer foundation, we may think you are just a troll.

[nas_daq] 04/5/2020 12:04

So judging by your posts you have the 3 percent that institutions don't have

[nas_daq] 04/5/2020 12:03

DozyI have rarely seen a ceo give a realistic honest appraisal of their company ever......Gerald Ratner springs to mind.......I've seen plenty give blatant misleading statements, not saying NM is doing that but I doubt it's in his interests to say the market is not great for raising finance currently etc etc Not saying CEOs are wrong in their beliefs after all you have got to be committed just like an investor should be bullish in their investments but just like some investors some CEOs will twist the facts to suit their own ends, some more than others.....

[mknight] 04/5/2020 12:00

Nas daq

When it gets alot higher i will

[nas_daq] 04/5/2020 11:58

LowtrawlerI think I answered your query in another post but I think NM was trying to inflate the share price to make fund raising easier when the share price hit the recent low 6 weeks ago...