SOLGOLD - Listed on London AIM
Link:
https://en.wikipedia.org/wiki/SolGold
Solgold started off almost as a shell mkt cap[£8m] when they started on Cascabel, Ecuador. NM wanted 2p as the talk went but the market only offered him 1.5p for the placing.
"In late 2013, it was announced that after channel sampling at the Alpala Creek area of the project, a "significant" gold-copper porphyry was located." Wikipedia
"The co then raised $1.8m in April." Wikipedia.
FAST FORWARD
On 3 Jan 2018, Solgold released the Maiden Resource Statement [MRE] for Alpala at Cascabel, Ecuador.
Today, 19 June 2018, the share price of Solgold is 22.55 British pence with a MKT CAP of £379.93 million [British pounds]. 52 week high 41.50p and low 19.73p. I recall that the highest was 46.75p. So one can work out how much the mkt cap was at the height.
TWO BITS OF DATA SOLGOLD PROVIDED
Solgold in their Announcements then said that Alpala would potentially come in at 1-2 billion tonnes of ore. The said MRE was 1.08Bt @0.68%Cu. Investors are waiting for an updated MRE. I recall there was a lot of din every hole but it was the COMPOSITE that was going to be relevant and today, the modelling is matched against the MRE and the updated one to come.
NM also said they were hoping for a $1 billion re-rate [I posted the quote from ADVFN via an article] and it was also in Solgold*s presentation citing 3 charts of co*s that did get that type of re-rating. I note another co also saying that - so it is commonly known that if a co can indeed find a Tier 1 [defined] then one could hope for a re-rate depending on the mkt conditions, mining cycle, price of the metal etc.
I recall on a forum that this was largely ignored?
I also read that Brent Cook, the renowned Economic Geologist saying that the more data there is, the better. Solgold has provided some truly exceptional detailed data on this aspect so that it was easy to follow.
Another famous award winning Geo who found the Escondida said that he only needs to see the 1st hole results to tell. In most cases, some want 3 and in the case of Aguinaga [2nd target at Cascabel after Alpala] it will be 5 test drills [previous 7].
One also noted the early calls of the mining cycle and today, that is now largely known.
So, those were the factors that were relevant to me. This is history now so I can recount those days. Others looked at different things.
WAIKEN of Hot Copper DGR [poster]
Waiken said that many had the opportunity then as DGR Global at the time [around] was at about 1.2c. Today, it is 9.3c area.
2) IRONRIDGE RESOURCES-Listed in London [DGR Global daughter co just like Solgold]
Share price of Ironridge Plc is 28.9 British pence, Mkt Cap £74.44m. 52 wk high 38p and low 21.02p dated today, 19 June 2018.
I have known about Ironridge for almost the time of inception on the London AIM market.
The main thrust then was the iron ore which appears to have consisted of 2 projects.
However, the mkt conditions became difficult later. I found out via research about the iron ore cycle and the specialist nature of it.
NM seems to have turned the ship round and now via the Vincent Mascolo Interview with IG on 13 June 2018 , IRR is on to lithium in Ghana.
I have been waiting for a long time to listen to what the co is saying especially what the horse*s mouth is saying.
This time, there is no detailed geo data etc.
So, on 29 May 2018, IRR issued an announcement relating to the results of the 1st 9 holes drilled at their Ghana lithium project. Assays are awaiting and the details are at the top of this page via my post. The IRR Geo made an interesting comment and he will be presenting in Brisbane later this month of June 2018.
The result of the historical hole was given.
In the said Vincent Mascolo interview, I hear echos of what NM said.
So, I decided to do a 1st round of research and the preliminary is in my post above.
I do not intend to do more research at this time because the DEFINITIVE will be the RESULT of the 40 drill holes that have been completed as said by Vincent Mascolo at the said interview. Toro has confirmed that it is correct about the 40 holes that IRR has completed.
Of course, just like the first 9 holes, the co cannot give assay results yet but they will make the announcement giving details just like the one on the 29 May 2018 of the 1st 9 holes.
MAJOR SHAREHOLDERS OF IRR
According to IRR*s Corporate Presentation of 2018 [only 1] on
www.ironridgeresources.com/presentations/ the TOP 20 SHAREHOLDERS OF IRR HOLD 85 % OF THE SHARES [See presentation] Note: Options
Breakdown:
Assore Ltd 29%
DGR 24.5%
Sumi 11%
Board/Mgm 7%
Other 28.5%
The total no of shares 281.32 million shares. For London AIM mkt, this is a low count of shares. So therefore, by simple maths, there is only 15% available on the market to buy.
FORUMS
These days, I note there is very little shared on the open forums re:IRR/Solgold. I read that there are now groups online but I am not in at any of these groups.
So, investors will now have to do their own research and depending on what their due diligence have found, they will have to go with their style of investment analysis.
If NM has a 3rd project and it is Australian listed, I wont be able to participate. London brokers generally dont do Australian shares. I enquired and they said it is not paying as they need to appoint an Australian broker/s and they need to keep their London operations open all night.
I am taking a break as research on co*s have caused eye strain. I will not be editing this post so please excuse typo etc. Please check for errors etc.
This is a courtesy post to recount the past from my limited view, current and future. As for the future, one cannot tell until the actual results are out ie fact.
That will be via ANN/RNS which one can follow via the co*s website etc.
Happy investing. Good wishes to all.
Sol1, Tues, 19 June 2018
P.S Dyor. The past is not a guarantee of the future. Please do due diligence. Capital at risk.
(20min delay)
