Cheers Plext.
Awesome reading. Interesting points for me were firstly the current share price of SOLG at 40p doesn't price in any further exploration success, they priced it on the average takeover of a project of about this "current" size. (so it assumes we get taken over but the at the historical average based on today's resource only- pretty conservative, and great to see the target of .50p - good timing management esp with TSX listing)
It doesn't really account for our position which is close to port and power, our first mover advantage in the jurisdiction, or other targets throughout Equador, - That is not to say none of this is factored into the current share price right now, and they didn't bang on about this stuff too much, but it does leave one to infer that a discount is being placed to various parts of the project across the board if you get my drift. -I guess the resource is not yet defined- but we know this will happen later in the year...
BUT- they do point out Aguinaga is a text book target so should be more exploration success here you would have to think. Then there is the rest plus a couple of targets that don't really get talked about. I was interested in a couple of other slides also that i want to see if anyone has any geological knowledge on.
First that slide of the project area figure 5 - Alpala mineralised corridor.
I guess this slide was just different to the other one I focused on, namely the one showing moly soil ppm.
Figure 5 says target porphyry corridor and defines the it as "drilling and geophysics"
I haven't heard a whole heap of talk about the area to the WNW of Alpala west/Carmen. If it is a colour definition of what is likely to be a deposit then this area looks good as does Chinamibcito another underrated area perhaps?
In any case not long to go till we drill Aguinaga probably a couple of months - I'd guess Oct/Nov. Also likely Moran and Travinio linked to the north.....Looking good,
What also looked good was that table showing the best development drill holes in history. In total SOLG has 10 of the top 34 drill holes. It makes you realize this is the real deal...o.k lets call it 8- because there are 2 daughter holes in the results, but lets go through number of holes in the top 34 and names we are talking about- Wali Golpu 2 holes, Grasburg 1 hole, Oyu Tolgi 3 holes, Caspiche 3 holes, La poloma 1 hole,
I don't know how other resource projects were drilled out. But I know a lot of drilling went down in Oyu Tolgi. in 2010 they had 18 rigs onsite according to Wikipedia. - Also the mineralisation sounds of a similar type - rich in Bornite, high gold content etc..... And Oyu Tolgi was missing from figure 8. -Copper acquisitions table.- intentional leave off?? It was 2010, top of the market, 3 bill or something wasn't it? SOLG management probably don't want to illustrate to them that they over pay. Because it won't be any different this time.. They will dither around...
They will over pay again.... We just need to hold em at bay for as long as possible. Interesting to see if we can get it to feasibility we will get on average 60% more for it when we sell it. Got to be worth Newcrests while to hold on as long as possible, we can manufacture enough money for feasibility, but unless Nick pulls another tier one out of his ass we aint going to production.
I got carried away. This was supposed to be the numbers post- I'll do it later when we start doing some feel good numbers on the TSX
POV
(20min delay)
