Solgold Share Discussion Threads

[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...

[mknight] 15/9/2020 19:58

PFS

Has not been delayed ,

[dartboard1] 15/9/2020 19:58

Most likely FNV found it during DD ...

[lowtrawler] 15/9/2020 19:54

SOLG will publish the missing information from MRE3 by the end of September and the revised MRE3 will be the basis of the PFS.

From an investors point of view, nothing inaccurate has been identified and the absent information appears more technical than fundamental. However, it is likely to be seized upon by CGP as an example of bad governance. I'm not clear if this will have any share price impact tomorrow or whether it will just be a shrug of the shoulders?

[pob69] 15/9/2020 19:54

Think so but it is beyond my pay grade. There is also a question of interpretation as to whether the PFS has been delayed from end of Q3 (Sept) to "is expected to be filed by the end of December 2020".

Worth noting that Cornerstone had to publish the same release and that their shareprice remains pretty much unchanged so maybe its a time to be sanguine....


It does explain why the website and the Red Cloud presentation were down for over 24 hours due to "technical reasons", though the website is now live.

[lowtrawler] 15/9/2020 19:32

Many thanks Pob.

My interpretation of the announcement is that having published MRE3, they should no longer have referenced the PEA in any ongoing company correspondence as the MRE2 estimates contained in the PEA had been superseded by MRE3. In addition, although MRE3 supersedes MRE2, it did not contain all of the information required to be a full replacement for MRE2 and so is itself deficient. Is that an accurate interpretation?

[pob69] 15/9/2020 18:35

So that's why the Red Cloud presentation and website have been unavailable until late this afternoon Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador

Clarification to Technical Disclosure and Intention to Amend Technical Report

Conclusion: "SolGold confirms that 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 which delivered the conversion of considerable tonnages into the Measured Resource category, plus the addition of 1.6 Mt Cu, 2.5 Moz Au, and 92.2 Moz Ag (not previously estimated) to Measured plus Indicated Mineral Resources. Revised Metallurgical Recovery data, a more refined development and mining plan, and increased gold price assumptions will also be embodied in the forthcoming PFS."

[mknight] 15/9/2020 17:54

Banksy .. imho the hot money in GGP will jump from GGP to SOLGOLD in the next few weeks .

[rougepierre] 15/9/2020 16:52

I agree mam fach...the LSE Board is a car crash unless you want to waste a day reading idle speculation, extended pitiful arguments and intellectual Master Baiting...

You have to read a lot of posts to find an original gem and many of those are reposted from here...

Ho hum...

[banksy] 15/9/2020 16:23

I see greatland gold approaching the 1 billion dollar market cap, Pitty Solgold can't seem to get a wiggle on and breakout of this current malaise

[mknight] 15/9/2020 15:35

Lowtrawler .

I am sure NM would be really happy if no bid for the company came forward but it will and we will recieve our 60 or 70p for our shares which is ok .

It may come out of the blue as the 45p did from BHP .

Many are.flocking to GGP but not me i will stay here awaiting that sunny day after all we are all cashed up until after the DFS .

[lowtrawler] 15/9/2020 15:17

I've been looking at the share price movements and trading today for any sign of manipulation but drawn a blank. It appears to me that despite the positive note from BoA and finalisation of FNV, we are not creating the investor excitement needed to propel us up.

The PFS will largely already be in the price but should have a minor positive impact. I don't expect BHP coming out of standstill to have any immediate impact. It leaves our regional exploration to do the heavy lifting. Maybe dispensing with the proposed requisitioned meeting will help settle things?

Do we know if Porvenir has commenced drilling yet? I posed that question at the Red Cloud seminar but had to leave after 26 mins. Was waiting for the replay to be available but no sign of it yet. Did anyone stay to the end and was this question asked / answered?

[mknight] 15/9/2020 14:15

Porvenir and Amarillo are the two big prospects but you never know what to expect .

[mam fach] 15/9/2020 13:00

This has always been a very amicable BB.Probably because majority here long term holders & believers that they have first class discovery. Whether it will achieve it’s full potential is the unknown factor. GLA

[lowtrawler] 15/9/2020 12:52

I'm much more interested in Porvenir. La Hueca looks like it may turn into a viable mid tier opportunity but don't think it's going to cause any real excitement

[mknight] 15/9/2020 12:42

La Hueca maybe slow but we should get some drilling results soon . If good it should give us a lift .

[lowtrawler] 15/9/2020 11:51

bc, you've made the same mistake as many other posters. We are not yet a miner, we are an explorer. Obviously miners have moved with commodity prices, we only pick up around 10% of commodity price movements because we are 5 years from production. Our price will be event driven: feasibility studies; financing; discoveries; permits; broker notes; bids. Outside these events, there should be relatively little price movement.

We have only just recommenced our exploration programme, will have the PFS in a few weeks and will be wide open to a potential bid once BHP are out of standstill. We are fully funded through to DFS and all recent broker notes are highly positive. It won't take much to propel us forward but don't expect that we will move in the same way as miners.

[plentymorefish] 15/9/2020 11:26

Only playing mam fach....well done!..(for buying more than 27 & being a woman)....

[mam fach] 15/9/2020 11:23

Wrong on both counts bought more than 27 and he is a she.
See we are all in good spirits this morning.
Enjoy the good weather.GLA

[plentymorefish] 15/9/2020 11:18

Shame he only bought 27 shares.....doh.......

[mknight] 15/9/2020 11:06

3p to 26p is a great profit nearly 9 times your investment .. well done Mam

[mam fach] 15/9/2020 11:05

I’ve bn in since 3p as regular posters know. If i was permanently a contrarian I would be selling now & should be buying RRR ,GGP or OMI. But i’m sticking with NM.