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SolGold (SOLG), koper en goud in Ecuador

43 Posts
Pagina: «« 1 2 3 »» | Laatste | Omlaag ↓
  1. ubu 17 juni 2018 11:25
    Omdat de presentatie begon met de vraag of het economisch rendabel is en die vraag niet werd beantwoord, heb ik nog een mail geschreven naar Exploration Insights. Dit is het antwoord:

    Thanks for your inquiry, we covered our thoughts on SolGold's maiden resource at Cascabel in January 2018 for our subscribers.

    We tend to focus on the asset's potential attractiveness to a potential suitor as this is our end game, a takeout.

    The question any potential suitor would pose after reviewing the Cascabel project is whether the cost of the infrastructure required to extract the relatively small mineable tonnage at Alpala, assuming block caving methods [the equivalent of upside down open pit mining, cheap but highly dilutive] in the jungles of northern Ecuador can be economically recovered.

    With what we know to date about the Alpala deposit we conclude that the majority of its volume is not economic considering its grade and location. That said, the high-grade core is definitely encouraging, but we just need to see more of it.
    We think that SolGold’s best strategy may be to leverage its comparative advantage to grassroots exploration by leaving the heavy lifting (budgets, timeline, expertise) of de-risking the Alpala prospect to Newcrest Mining, or another suitor, by formulating a joint venture specifically on it. The strategy has worked well for another successful grassroots explorer, Gold Road Resources (GOR.ASX), with Gold Fields (GFI.LSE, GFI.JSE) on the Gruyere gold project in Western Australia.

    As far as we know, SolGold has only tested 5 of the 15 copper-gold targets within the 50-square kilometer Cascabel project. It is encouraging that its expertise will be applied to its expanding exploration footprint in Ecuador through 38 new exploration licenses.

    We will continue to follow the story as we acknowledge SolGold’s comparative advantage in grassroots exploration in a highly prospective terrain, but we are not buyers at this time as we are still concerned about the geopolitical risk of Ecuador. If you are keen on the company, going forward, it is planning an additional 120,000 meters of drilling (12 rigs) in 2018 to extend and infill the Alpala resource.

    Hope that helps.

    cheers

  2. forum rang 10 DeZwarteRidder 17 juni 2018 11:29
    quote:

    KabouterUbu schreef op 16 juni 2018 12:37:

    Een video van februari van Exploration Insights waardoor ik toch minder enthousiast ben geworden, maar ik blijf wel zitten.

    www.youtube.com/watch?time_continue=4...
    Ze vertellen ongeveer hetzelfde wat ik al eerder gezegd heb.

    Zie tekst hierboven.
  3. ubu 17 juni 2018 12:08
    In principe doet Exploration Insights dus niets anders dan het Exploration Discovery Fund van WM, maar ik vind de presentatie van de eerst toch meer om het lijf hebben dan die van WM bij de Lynx Masterclass. Toegegeven de setting was een heel andere maar iets meer detail was geen luxe geweest. En dan is SolGold de grootste positie in de portefeuille van het CDF. Weegt WM wel alle plussen en minnen goed tegen elkaar af.
  4. forum rang 10 DeZwarteRidder 17 juni 2018 12:23
    quote:

    KabouterUbu schreef op 17 juni 2018 12:08:

    In principe doet Exploration Insights dus niets anders dan het Exploration Discovery Fund van WM, maar ik vind de presentatie van de eerst toch meer om het lijf hebben dan die van WM bij de Lynx Masterclass. Toegegeven de setting was een heel andere maar iets meer detail was geen luxe geweest. En dan is SolGold de grootste positie in de portefeuille van het CDF. Weegt WM wel alle plussen en minnen goed tegen elkaar af.
    WM is een amateur/papagaai op dit gebied.
    Hij holt overal achteraan en gelooft alle verhalen die hij hoort van andere promotors.
  5. forum rang 10 DeZwarteRidder 26 juni 2018 16:40
    Hier kan SolGold nog een puntje aan zuigen:
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    Nevsun Announces Initial Inferred Resource for the Timok Lower Zone

    1.7 Billion Inferred Tonnes Grading 0.86% Copper and 0.18g/t Gold Containing 31.5 Billion Pounds of Copper and 9.6 Million Ounces of Gold

    Vancouver, BC – Nevsun Resources Ltd. (TSX: NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") is pleased to announce the initial resource for the Timok (Cukaru Peki) Lower Zone deposit, a joint venture with Freeport-McMoRan Exploration Corporation ("Freeport"). Timok (Cukaru Peki) Lower Zone Initial Mineral
    Resource Highlights:

    - Porphyry copper inferred mineral resource of 1.7 billion tonnes grading 0.86% copper and 0.18 g/t gold (0.96% copper equivalent)
    - Contains 14.3 million tonnes (31.5 billion pounds) of copper and 9.6 million ounces of gold at a US$25 cut off
    - Includes 1.1 billion tonnes grading 0.99% copper and 0.21 g/t Au (1.11% copper equivalent) at a US$45 cut off
    - Ranks high in grade, size and contained metal for porphyry copper deposits worldwide
  6. indianrider 16 oktober 2018 14:21

    Highlights:
    BHP Billiton Holdings Limited (BHP) to subscribe for 100 million shares at 45p to raise £45m (USD $59.2 million).
    BHP to have anti-dilution rights for a period of two years in respect of all capital issues to maintain a 10% interest in SolGold provided BHP does not drop below a 10% shareholding level in SolGold.
    BHP to have a right to appoint a Director to the SolGold Board provided BHP does not drop below a 10% shareholding level in SolGold.
    BHP will, for a period of two years, support the recommendations of the Board of Directors in respect of SolGold Board composition.
    BHP will, for a period of two years, support the recommendations of the SolGold Board in respect of any shareholder approvals required in connection with any change of control transaction involving the Cascabel Project or SolGold, provided it is supported by an Independent Expert appointed by the SolGold Board and 60% of SolGold shareholders (disregarding BHP’s shares) accept or approve the transaction.
    BHP agrees to a standstill in respect of SolGold under certain circumstances for a period of two years and, subject to certain exceptions, cannot acquire further shares in SolGold above a threshold of 246,634,271 shares, without SolGold consent.
    BHP agrees, for a period of two years (subject to certain exemptions), not to discuss any change of control transaction of SolGold with third parties without SolGold consent.
    BHP agrees, for a period of two years, to provide SolGold, in certain circumstances with a right of first offer in the event that BHP wishes to dispose of its acquired shares.

    The Board of Directors of SolGold PLC (SolGold or the Company) is pleased to announce that SolGold has today entered an agreement with BHP Billiton Holdings Limited (BHP) pursuant to which BHP will subscribe for 100 million shares at 45p to raise £45m (US $59.2 million) (The Placement) on terms and conditions contained within a share subscription agreement (BHP SSA).

    Following completion of The Placement, which will occur on 19 October 2018of SolGold's undiluted issued capital.11.18% , BHP’s interest in SolGold will increase to 203.125 million shares or BHP currently holds 103.125 million shares in SolGold.

    The Placement pricing represents an approximate 30% premium to the last 20 days volume weighted average price (VWAP) and a 27.8% premium to the closing price for SolGold on LSE on Monday 15 October 2018.
    2154894.png
  7. indianrider 16 oktober 2018 14:24
    By Melanie Burton and Barbara Lewis

    MELBOURNE/LONDON (Reuters) - The world's biggest miner BHP (BHP.AX) (BLT.L) nearly doubled its stake in SolGold Plc (SOLG.L) on Tuesday, vying for position with top shareholder Newcrest Mining (NCM.AX) as it eyes SolGold's promising Cascabel copper-gold project in Ecuador.

    Under the deal, BHP will pay SolGold 45 million pounds for 100 million new shares in the company at a 28 percent premium to the stock's last close, taking its total spend on the developer to $85 million.

    The move drove SolGold's London-listed shares almost 30 percent higher at one point. At 1100 GMT, the stock was up 17 percent, with BHP's shares down 1.3 percent.

    BHP, which bought into SolGold just six weeks ago, has increased its holding to 11.2 percent, nearing the 14.5 percent stake held by Newcrest, Australia's biggest listed gold miner.

    Under the latest deal, which analysts said was a big vote of confidence in the quality of SolGold's assets, BHP has the right to appoint a director.

    For a two-year period, it agreed it cannot acquire a further stake in SolGold above a threshold of 246,634,271 shares, which would take it to around 13.5 percent, without SolGold consent.

    "This additional investment in SolGold strengthens our strategic position in the Cascabel copper exploration project," BHP President Minerals Americas Danny Malchuk said in a statement.

    Newcrest declined to comment.

    SolGold's CEO Nick Mather said in a statement BHP's investment was welcome and would help the company take "an aggressive path to the development of this exciting project".

    "The strong premium paid and the $59.2 million in funds raised means we can get on with the task of getting to feasibility," he said.

    SolGold rejected an offer by BHP to take a 10 percent stake in the company in October 2016 for $30 million. At the time, BHP also offered to spend a further $275 million for up to 70 percent of Cascabel, an offer SolGold rejected because it did not want to lose control.

    In common with other miners that have recovered from the price crash of 2015-16, BHP is seeking to expand its copper portfolio.

    The highly conductive metal is in demand for use in renewable energy and electric vehicles, but new deposits are rare and increasingly difficult to recover.

    BHP says it prefers to build its own projects to maximise profitability, rather than to expand through acquisitions, but buying a small stake in an early-stage project gives it a chance to influence development.

    Analyst Paul Gait of Bernstein said the Cascabel project would suit BHP's business model perfectly.

    "It's a copper porphyry (a large formation where copper can be accompanied by gold) suited to bulk mining in a safe-ish location," he said.

    While BHP has deeper pockets, Newcrest has technical skills, known as block-caving, linked to large-scale bulk underground mining.

    Block-caving involves hollowing out an ore body and allowing it to collapse under its own weight.

    It has a smaller environmental footprint than open pit mining. Newcrest is one of a handful of miners that has block-cave experience.
  8. indianrider 21 november 2018 21:14
    SolGold now a 'tier one' copper discovery

    Nov 21 2018 at 11:00 PM Updated Nov 21 2018 at 11:00 PM
    Experts say SolGold's Ecuadorian asset now deserves to be ranked among the world's best copper discoveries.
    Experts say SolGold's Ecuadorian asset now deserves to be ranked among the world's best copper discoveries. Paul Jones
    The Ecuadorian copper prospect pursued by BHP and Newcrest Mining now deserves to be considered alongside elite copper discoveries like Chile's Escondida, Australia's Olympic Dam and Indonesia's Grasberg, according to an analysis of the latest drilling results by one of Australia's top mineral exploration consultants.

    ?Minex Consulting managing director Richard Schodde said the updated mineral resource estimate published by Ecuador-focused SolGold on Tuesday night had confirmed its Alpala prospect within the Cascabel tenement was a "tier one" copper and gold asset.

    SolGold told the London Stock Exchange on Tuesday that the Alpala resource was now estimated to contain 13.1 million tonnes of copper equivalent metal; a 77 per cent increase on the previous estimate published in December 2017.

    Perhaps more importantly Alpala's high-grade core is now estimated to be 99 per cent larger than the previous estimate with a copper equivalent resource of 6.1 million tonnes, and that could prove pivotal as many copper mines are now built small with a focus on a high-grade core leaving potential expansions for later when commodity prices make them viable.

    Mr Schodde said Alpala, located in northern Ecuador, easily met his criteria for "tier one" status.

    "As part of my job I maintain a database of over 58,000 mineral deposits of all types around the world and 304 of these are classified as being 'tier one' so they are very rare and special by definition," he told The Australian Financial Review.

    Mr Schodde said only 47 of those 304 top tier assets had copper as their primary metal.

    "In other words Alpala has joined a very elite group of deposits, which includes Escondida, Olympic Dam and Grasberg," he said.

    "In practice only one or two 'tier one' deposits are found in the world each year.

    "In my opinion [SolGold's] claim of Alpala being world class is valid."

    The progress of Brisbane-based SolGold has been closely watched in Australia since Newcrest and BHP made rival offers to invest with the explorer in October 2016.

    Newcrest was preferred by SolGold on that occasion, winning the right to subscribe for a 10 per cent stake in SolGold, which has since grown to more than 14 per cent of the company.

    But BHP has shown renewed interest in the past two months, spending $131.9 million on an 11.1 per cent stake in SolGold.

    A third ASX-listed company, DGR Global, also owns 11 per cent of SolGold.

    While there is no official regulatory definition of a "tier one" geological deposit, the term has become part of mining industry lexicon since BHP developed a charter that vowed to invest only in "tier one" assets that were large, long-life, low cost and expandable.

    Mr Schodde said the majority of the value within the Alpala deposit, about 71 per cent, would come from the copper, suggesting Alpala would likely be a copper mine with gold byproducts rather than vice versa.

    The heavier copper focus could make BHP a more natural owner than Newcrest, which is broadly known as a gold miner, albeit one that produces copper byproducts at some of its mines like Cadia in New South Wales.

    SolGold's Australian managing director Nick Mather said he was very happy with the "rapid and inexorable growth of this resource".

    "Alpala has got more to grow yet and we are pursuing that aggressively over the coming months," he said in a statement.

    "Alpala is just the beginning for SolGold and we can see the emergence of the company as a copper gold major and Ecuador becoming one of the world's largest copper producers as a result."

    Gold was fetching $US1221 per ounce on Wednesday, while copper was fetching $US2.79 per pound.
  9. indianrider 2 januari 2019 12:45
    Discovery at Porvenir Target 15 returns open ended 62.4m @ 1.16% CuEq, consistent with exposure of well-preserved, vertically extensive porphyry copper-gold system
    The Board of SolGold (LSE & TSX code: SOLG) is pleased to provide an update from the Company’s regional exploration activities from its 100% owned Porvenir Project in southern Ecuador, held by wholly owned subsidiary Green Rock Resources.

    Highlights

    First pass mapping and sampling by Green Rock field teams at the Porvenir Project has discovered exciting new porphyry Cu-Au mineralisation at Target 15, located on the Porvenir 2 concession in Southern Ecuador.
    A broad zone of north east trending porphyry mineralisation approximately 1km wide and hosting numerous porphyry centres currently defined over 6 km long and open ended has been defined, including target 15, the subject of this announcement.
    Within this zone, a 800m-wide, northeast trending mineralised corridor more than 1200m long recognized at Target 15, Porvenir contains mineralisation styles, size and geometry consistent with exposure of a vertically extensive, well-preserved porphyry copper-gold system.
    Initial rock-saw channel sampling across along exposed outcrops at Porvenir Target 15 has returned open ended intersections:
    o 62.4m @ 1.16 CuEq (0.71 % Cu, 0.71 g/t Au) (open-ended), including
    o 29.5m @ 1.56 CuEq (1.01 % Cu, 0.89 g/t Au) from 12.1 to 41.6m.
    Ongoing field programs continue to identify new mineralised outcrops at Porvenir, across a broad zonewith rock chip samples flagged for follow up work that return up to 2.35% Cu and 3.59 g/t Au.
    Mineralisation style at Target 15, Porvenir similar to Alpala, Cascabel with Au:Cu = 1:1.
    Drill testing and ground magnetics planned at Porvenir Target 15 in Q1 2019.
    Airborne-magnetic survey planned for entire Porvenir concession package in Q1-Q2 2019.
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