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Great input from Red, Lunch, DBW & others this week tks - having far less sector & trading knowledge the posts are really appreciated.
A few wee points I wish to add to the subject:
The PFS covers just 21% of Alpala M&I resources (38% of contained metal) from Cave 1. It has been stated that the infrastructure (shafts/ access/ crushers/ process plant etc, etc) costed in the PFS can be used for further Caves at Alpala (2 more?).
Say for instance 70% of the contained metal @ Alpala can be extracted, this would have a HUGE positive baring on the overall value of Cascabel.
It was also stated that the PFS addendum (which will give up to $1.8 billion in upside opportunities) only covers Cave 1 & Tanday – NOT Caves 2 & 3 @ Alpala.
If you take into account the above points you can literally tear up the PFS & multiply the value of the resource, which the majors will be fully aware of.
This raises the question as to why the full Alpala resource was not measured in a PFS – the answer being time.
Darryl did state that investors just wanted the PFS released in quick time. It is very possible that a major stated that they would look at making an offer, but not until PFS is released (covering their position from shareholders).
This ties in with the poor timing with the release of PFS (over Easter with little media about). It simply may not have mattered a jot as SOLG aware of an imminent bid which would get all investors full attention.
Damers.
Morning J.Maria.
https://www.mining-journal.com/copper-news/news/1430617/solgold-issues-cascabel-pfs
Great work Novicehunter - your positive vibes are feeding through to the SP.
Coincidences!
The Cascabel PFS for mined copper is almost the exact same as the Olympic Dam.
Now, who managed the Olympic Dam project? Darryl Cuzzubbo - I think we recognise that name.
The Olympic dam project is owned by BHP - what a coincidence.
Now if I was a major looking to take over a green field Project, front and centre of my thoughts would who has the skill set to manage such a project and who could / would be available to do so? hmmmmmmm!
it absolutely is seanhunter - if we add all the pieces of sector & SOLG info we have been fed / learnt over the last 6 months, it's the only conclusion.
Also, Colonel D's comment yesterday was also very pertinent............
"Seeking strategic partners to advance exploration at grassroots projects" END.
They've been doing this for over 12 months now. I can't believe they haven't had plenty of interest. My guess is that they don't want to upset BHP/NCM by farming these out as to be honest... I can't believe they haven't got deals done on these. How long is 12 months!!! It's yonks. Time is not on hand. If they don't get deals done then they have to relinquish them.
Something doesn't seem right with this... we know they could find interest but for some reason they are not ready to pull the trigger on those early bird blocks. Why not?
Damers.
Definitely feeling the pain here folks. I was hoping / expecting the SP would hover around 35p until further news lands.
To remember………
• Only 21% of the M&I resource measured in the PFS and most agree still pretty damn good. The majors will fully understand and will be taking this point into account.
• PFS addendum will only help and agreed that may entice an early bid.
• Now the PFS has been issued, the door is now officially open to offers.
• We could literally have an offer land for all or Cascabel in the next few weeks.
• Rio – too quiet for too long. This is SOLG’s rabbit in the hat and will be pulled out when needed.
Fcuk the SP - nothing less than £1 for me............
......................and adding to the net value of Cascabel.
Cuzzubbo is sticking to his word, that being the only focus at this time is with Cascabel PFS (we have to include TAM deposit as part of the value) .
This leads me to think that bids will be for Cascabel & not SOLG...................