SolGold - SOLG Stream Log

There goes 3p

In case you missed it, read the last sentence in the news article I just posted

Here's why SolGold appears to be tanking: Ecuador Gold Announces Encouraging Metallurgical Testwork Results Posted: Dec 08, 2014 96 AM EST Updated: Dec 08, 2014 10:36 AM EST This article was originally distributed via SproutNews. SproutNews, WorldNow and this Site make no warranties or representations in connection therewith. Toronto, ON / ACCESSWIRE / December 8, 2014 / Ecuador Gold & Copper Corp. (TSXV: EGX), (the “Company”or “EGX”) announces that the Company’s Consulting Engineers, GBM Minerals Engineering Consultants Limited (“GBM”) who are currently undertaking, through Resource Development Inc, (“RDI”) of Denver Colorado, the additional metallurgical test work that was announced in the May 29, 2014 News Release, as part of the 43-101 Preliminary Economic Assessment Technical Report (“PEA”) on the Company’s flagship Santa Barbara Project, have released encouraging results from this test work and have advised the Company that the PEA will be completed by the end of January 2015. In addition, the Company has acquired key surface landholdings that cover a substantial part of the surface footprint of the Santa Barbara Project. Metallurgical Test Work Update RDI reported that the following conclusions can be drawn from the additional metallurgical test work which incorporates alternative flotation reagents and fine grinding: - Copper and gold recoveries achievable by rougher flotation are ± 80% and ± 65%, respectively. - Due to the very small particle size of some of the chalcopyrite, as seen in the mineralogy study, the recovery of copper is unlikely to increase without grinding the ore to extremely fine size (i.e. ± 10 mm).

Take heart longterm investors who bought under 4sp. Falling oil prices will force Ecuador to turn to its mining sector and thus pick a prime mining partner, who will in turn buy out SolGold. Expect to see rise in sp as SolGold tarts itself up to get a good deal on the buyout.

agreed they have another 12-18 months of drilling to go yet before this resource is fully proven and quantified. Too early for buy out at this stage, IMO

Share price is on life support pending news on who will buy out SolGold in Ecuador. It still looks like China will do so but confess that I'm surprised they have not done so by now. I guess the hold up is political between Ecuador and China. One thing certain, SolGold is not putting anymore money in Ecuador until its buyout is certain.

i am a long term shareholder but i am fed up with the investment. But it's not limited to SOLG. You're right. The whole AIM is disappointing!

re: John - rumours circulating of a takeover bid through cornerstone chat forums; do you have the link, cant find it?

A company controlled by Sweden’s Lundin family agreed to buy Kinross Gold Corp. (K)’s idled Fruta del Norte gold project in Ecuador for $240 million and will change its name to Lundin Gold Inc. Fortress Minerals Corp. (FST/H) plans to raise about C$250 million ($223 million) in an equity sale to fund the cash-and-stock purchase and capitalize the company, it said in a statement today. Kinross, Canada’s third-largest gold producer by revenue, will receive $100 million to $190 million in cash, depending on the net proceeds of the financing, and the rest of the purchase price will be paid in Fortress shares, the Toronto-based miner said in a separate statement. Kinross took a $720 million charge in 2013 when it decided to halt development of Fruta del Norte as Ecuador sought to increase taxes and after gold prices declined. The company, which has operations in the Americas, Russia and West Africa, acquired the project when it agreed to buy Aurelian Resources Inc. for C$1.2 billion in 2008. The Lundin Family Trust has subscribed for as much as $100 million of Fortress’s equity offering, the companies said. The government of Ecuador has indicated its support for the Fruta del Norte sale, which is expected to be completed by mid-December, the companies said. To contact the reporter on this story: Liezel Hill in Toronto at [email protected] To contact the editors responsible for this story: Simon Casey at [email protected] Steven Frank, Carlos Caminada

255k was me averaging down