Bradda Head Lithium exceeds targets, secures US$3 million royalty and moves closer to production. Watch the video here.
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Jez
I have dreams cos it's the only entertainment I can afford.
for the record am listening to
https://open.spotify.com/track/2mAbeINuV8jIKH7JX95xj9?si=eKTs0EgJSfKs9yl96kr8Fg
to answer your❓look back in Wanda. today feel like fish outta water.
wanna sink fast. wanna come to❓
found a vessel that will do the trick. Called VAST.
oh DUCK that ain't gonna work cos am an EFFING fish
yours cruely 🖤
CMG, this will be my last response to you.
Clearly you are not a man of your word, and I can only conclude that you are not a gentleman. In fact, given your behaviour and the delight which you derive form being a pain, I get the impression that you are not even a man!
A true gentleman abide by his word. You cannot resist responding to my post because you lack self control and the integrity of a true British gentleman! As I have previously stated, I have nothing to learn from an ignoramus who doesn't know the difference between week and weak😅
I think the closest you got to a university is during your cleaning job😆
Orthern, we won't be the owners by the time the EL is issued.
Assuming there is at least one mining company out there which can see just how important Cascabel is, and for the reasons I outlined below, they will not want to wait until we saddle ourselves with 1.5bn of debt/royalty deals, which they would then have to deal with.
Q, the timeline of the EL has now been reiterated by the company on several occasions and I see no reason to doubt them. As far as your final question is concerned, I think i've outlined a possible way which finance could be put together.
Good morning Eloro, I have always said that production was the most likely outcome, since 2015.
When under Nick Mather he announced, we were going to production.
Everything made sense then and does today.
First of all the diverse book meant that no agreement could be easily reached because there were too many parties involved, all who wanted a bigger slice.
This meant a hostile bid.
However that would have cost a fortune.
So majors are not in the game of throwing lots of money at projects that haven't started.
For accuracy I have never said we would not get a bid, I have always said that a bid is unlikely because mainly of the above, but also other things have happened along the way that have shown Solgold would continue down the production road.
It was the offtake by Franco Nevada that made this more likely, although anyone taking over Solgold could have bought out their share, but that's chucking even more money into the equation.
Where I differed to many on here, is I am aware after investing for more than forty years, that if the resource was accurately defined, that financing this would not be a problem.
Okay my take on the environmental license.
Because of the noises made by the government I believe we will have the environmental license by end of year or early next year.
Everybody is keen to start digging.
I don't know about mining, but in gas and oil, a lot of work can be started, if we are reasonably certain of obtaining the environmental license.
So we may get some news on this.
Question is will financing be announced before or after we obtain the environmental license.
"We are working on the process of obtaining the environmental license, which is what formally enables us to begin construction and then development and finally start operations of the mine. Until the license is obtained, we estimate it will take between a year and a half and two years ,” said the SolGold executive, noting that an environmental consultation by the Government will also be necessary.
So absolute minimum of 2 years.... Bear in mind Solgolds ability to keep to schedules and timeframes are woeful.
Maybe Cov but have to wonder why FN need to raise an extra 2bn ….. courtesy of HH
https://twitter.com/hubrishunter/status/1806591404103139375?s=46&t=XX3-iZapJ1HaXMFlnE7nKQ
Fast and smart guys.... Remember, we are now proceeding fast and smart !
SP tells me all I need to know. Two more years waiting for the EL would explain it.
So again, if FN know they will lose with say BHP, why would they play this game with Solg unless they have a binding clause giving them certain rights in all scenarios.
Maybe they did know, but it doesn't fit with the script. You silly man.
Lol .
Are you locked in now Eloro.
Add, 1984, I wasn't sure re suspension which is why I asked. The real point of interest to me is whether we will be sitting around for another 18 months to 2 years waiting for the EL? I am surprised that experienced mining investors didn't mention this duration previously. Even Quady didn't mention it. Where we are today, it would appear that Quady called the production route correctly.
It’s one of those old wives tales that seems to stick for some reason, but no a stock is not suspended when a bid is about to be announced
Suspension is for some violation of market rules normally
But like that stupid autobot theory. There is no way of knowing which trades are placed by an algorithm but it doesn’t stop stupid people believing in it
One further point/question. Why would FN do this?
Unlike a trade buyer, waiting for us to go bust doesn't work for them. Sure, in an administration they've got first call on our assets, but since they're not miners it's not much use to them. The asset would be sold to a major.
They want a very long term deal with the stream of royalties acting almost like an annuity. A major mining company doesn't need, nor would it want, FN in the picture, so although FN get their money back, they lose out on one of the biggest deals they'll ever see.
At least with us still in charge they have a chance to make a huge return; with BHP, or anyone else running the show, they won't.
Of course, this is all idle speculation, but we are in a period of febrile anticipation and that's my excuse. I also fail to see why the government would sign the EA without having done plenty of dd on our current discussions. In fact, you'd assume they'd want to eyeball whoever it is we're talking to in order to establish how likely a positive outcome is. If they haven't, they could end up looking pretty stupid.
Elor, why would the share be suspended? Just because a company is in discussions does not mean it can either apply for a suspension or have one forced upon us. The golden rule of the stock exchange is to allow shareholders to trade.
I think the answer to my question could be as follows.
FN advance us $50-100m either in the form of another royalty deal or term loan with accrued interest, and also offer us the full package of 1.5bn on a conditional basis until such time as all licences are signed. This would mean we are fully funded.
The first part would be secured by another Charge, which is still covered by our net asset position. In other words, they would have enough security. Given the second part of the facility won't be drawn down, it also means we can sell the company in the meantime without having 1.5bn tied round our necks. Is this the type of package we are negotiating? It makes sense to me.
ELORO and NEEDY
I'm flattered that you both seem to add me in every comment. Even while I'm not on the conversation.?
Strange behavior..
You don't know me, eloro.
My education.
My background.
Yet, you make things up and post on here lies.
Only one ignoramus out us two.
I find it laughable, I'm so in the minds of you both.
I offer once again , let me know anytime you want .
We can chat privately and meet.
Let's see how big you are in person .
Are you even in UK?
You post like NEEDY maybe the same person.
Good find and thanks for sharing DBW, I now have a very nice warm feeling in my belly, looks like the troll posters are already going into overdrive this morning and it's not even 9.00am here
55p Someday Soon !!!
Quite incredible that we have an exploitation agreement signed and then wait for up to 2 years for an EL! Heck!
Does this government with it's huge international debt not want royalties flowing in , nevermind the jobs created and huge economic activity in Equador's northern region?
Surely if price impacting news was about to land the share would be suspended prior to that a announcement?
Cue CMG the north of the border ignoramus😆
Forgive me for my ignorance, but what does that suggest?
Bid showing 8.52 ….. actual price to sell 9.02 🤔
Affrm, calm down dear
Big spread ….
The article is very good.
To me it's obvious the government are 100% making cascabel happen, the country needs it.
Exciting times coming for shareholders!
Thanks for this DBW.
The final paragraph confirms the point I made the other day and how this impacts our need for working capital until such time as we commence the development of the mine. We can't start construction work until we have the EL, and that's going to take 18/24 months. So, what do we do in the meantime? How do we fund ourselves during that period?
In my book, this is why we need to sell.