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The Wolf of Dubai appears when his mate Eloro gets slammed.
Hows trading been today Suhail you muppet
Why don't you stick your neck out and tell us what price this is going down too?
Point 1 I believe is what is required to pass the going concern test. So that is the funding I am referring to.
They are in no rush to get anything else sorted because snouts are firmly in the trough and it will not be easy to get them away from the trough. Sad to see that you are forecasting out another 2 years Fort. I think that the copper bull market would have passed by then. If Scott cannot flog a tier 1 in a bull market, then he is indeed a buffoon!!
Eloro, sort what funding out?? There's two funding requirements needed before the market will feel it understands where SOLG is going...
1. A $20m raise to keep the lights on ... bred and butter stuff.
2. A ring fenced raise to further derisk Alpala.
In the case of point 1.. that's already a given as we've been told it will be non dilutive. So that's likely based on CGP shares get sold.
Point 2 is a tricky one... some will say Alpala does not need any more derisking... leave it to the next guy etc. Others will say, it cost $60m last year to get us to a revised PFS. mmm! Hence ring fenced cash for ENSA will have to be $50m+ at the very least.
It's quite possible that there might be a 3 way deal brokered that involves, a sale of Porvenir and sale of 5% CGP shares to Chinese along with a 0.6% royalty with Osisko for $50m (also chinese so they'll be happy with royalty deal).
That might see $100m to $200m for Porvenir (and that's for a stake in it not a full 100% ownership). $50m from Osisko and say $20m to $25m from cgp share sale.
That could bring in $250m to $300m in cash and sort the derisking on Alpala through to DFS inc elevator shaft works. Likely to take us through to 2026.
For most... the idea of another 2 years will feel painful... but that pain will be shared by potential buyers on sidelines which might include NMM, FMG, BHP, and a few others. Then ... and only then might they make a move as waiting another 2 years will set them back.
I'd rather see the SR released an confirmation on talks with interested parties that might end in a sale or not etc. That would see us back over 25p+ imho in no time at all.
Being the muppet that I am, I don't understand why our buffoon of a ceo is willing to accept 30c, and why are folks talking about 35p as a good price given what we have in the ground? Surely we are worth more than 30c, 35p?
Lol 130 rampy posts in the last 30 days and the š¤” accuses de rampers of working overtime.
The delusion is not limited to solgās sp by the looks of it š¤£š¤£š¤£
Traded multiple times since last summer, add. Want to see my spreadsheet? Wasn't going to miss a 6-10p rise, but like I said it wasn't based on anything, and not sustainable, so I got out in the 9s to ensure I wasn't trapped like red, bbg et al. All about being ambitious but not greedy. People buying shares now, before the drop on fundraise news, are mental.
Sound observations as usual BBG
I think this BHP move is a response to Chinas gathering power in the copper market...and indeed other metals...
Totally agree with you Fort. However, I wouldn't buy more until I know that funding is no longer an issue. My number 1 concern is to see funding sorted which would calm my nerves and dismiss the possibility that we might fail the going concern test, or that Ecuador might end up with the assets. Sort funding now is my clarion call!!!
An amendment to my earlier post - GGP should, of course, have read SOLG, but I hold GGP as well in a basket of pre-production miners.
Thank goodness...
For another boring day, without the SP being trshed by Autotrades...
A measly 246k shares traded in the first 3 hours...thats 23 every second...zzzzzz...
And look at TMX last night...only 1k...yes one thousand shares trased all day...
Thats ONE share every 29 seconds...
So we wait.....
But I still believe this collapse in activity portends something about to happen...
Mind you it is friday...55p by close Novice...?
I agree with your position ByronBayGold. Rick Rule who is well-known in mining circles prefers prices dropping in order to buy more. He assumes that you are invested for a variety of well-researched reasons and are therefore not frightened by a fall in prices! To reap the benefit of such early stage investments takes many years of patience - 10 years plus to bring a mine into production. Once producing the stock price will be in the pounds rather than the pence. I invest in early stage miners for the future benefit of my children/grandchildren. Do I expect dilution with GGP - of course I do, that's almost a given with this type of investment, but I hold funds in readiness for such an event
SH, you told us the other day that you'd sold your shares before the current downturn. Presumably you sold in the Spring/Summer of last year?
Eloro,
Whilst I'm uber critical of Bob and Scott, the asset is unquestionably outstanding. It will get sold even if the inept management take far too long over it... it will get sold for market rate. That's how it works.
You need to remember that Noboa is firmly behind it, you need to remember that Franco have chucked $100m at it. Osisko $50m. These guys know they'll be getting their money.
So buy the dips and get nicely positioned ahead of what should be a pretty tasty bid auction process judging by how bad BHP need to bolster their resources with deals like Anglo American. Who's next to make a move?? We've seen NCM gobbled up... Oz minerals gobbled up... Anglo possibly gobbled up... it's all about consolidation and picking off prime assets right now while things are a bit beaten up.
It's coming... and soon imho.
There is no desperation Eloro or Stackhigh.
It seems the derampers are working overtime.
I am happy for the SP to go down short term as I will buy more.
I am here for the long term and so I can wait as long as possible.
I had a good chuckle 1984 š who isn't up for a bit of fingering?!
BBG, my concern is that we have been told that we have a tier 1, people in the data room, expression of interest blah blah. Here we are, still left on the shelf. 1 of our strategic investor decided to look elsewhere. Surely that is not a positive sign for us. We are on death row by the look of it and will be walking our last walk if funding isn't sorted sharpish. You carry on holding BBG, but don't forget that folks can read the desperation in your tweets on X.
Strange to sit back and leave your money in a company if your accept nothing is going to happen anytime soon.
Bbg, your very long story was exactly what I expected when I posted first thing. The same rampy nonsense that you've been spouting for years about how we might be on the cusp of a deal with a long list of people.
Bhp are busy, and interested in producers. They don't counter a low ball bid because a) there isn't about to be one and b) the amount they stand to lose is chicken feed, but a bit could cost them vital leverage
Newmont are unlikely to be interested in a copper play that's so far off first production. If I'm wrong, they certainly won't be trying to buy us in 2024 or 2025, so again, odd to leave your money in before a fundraise if that's your strategy
Jiangxi could have doubled their holding on the cheap if they wanted to (might still when we go cap-in-hand). It still doesn't mean they fancy a costly takeover when they can see the chance of a cheaper route to Cascabel.
But your efforts to claim BHP being tied up in an unrelated TO as a win are šš¤£
ā bit squashed, a bit brokenā¦ been looked at, squeezed and fingered by all customersā
I wonāt, but it took huge restraint on my part!
M&A cycles in mining always start with producers being lapped up before explorers become the next targets. Good signs lately weāre definitely in such a i cycle
I am not ramping to get the SP up. I am a shareholder and supporter of the company.
Absolutely we have no idea what is being discussed behind closed doors - unfortunately you and I are not part of the BOD.
I am happy to sit back and leave my money in Solgold - these are exciting times for copper projects, especially for ones that boast our size
Nonsense BBG! The fact remains that we are still sitting in the dark not knowing what will happen next. Not knowing whether funding has been sorted after the buffoon indicated a non-dilutive funding was going to happen. Further, none of you Ć¼ber rampers have managed to get the SP up, or convinced a major that they need what we have. Now the same folks who said that we wouldn't see see the 2024 agm are now talking about the next 6 to 12 months! Not long to go for the next agm and I am looking forward to reading the reasons we should vote the buffoon back in given that we are no further a head than we were last year.
The negative Karen's are at it again , very sad what a life.
Second funniest post of the week.
"Eloro we don't want short sighted investors like you on the register."
Bbg, you crack me up.
What a clown.
Eloro is not short sighted, he responds to facts.
You have spent 8 years spouting the same s**te.
And it's your s""" te that causes others to challenge it.
To which, you spit your dummy out, and post more s" "" te.
I really need to get off this madhouse
Eloro we don't want short sighted investors like you on the register.
Great news for M&A. However, it is concerning that BHP doesn't regard our "tier 1" worthy of Acquisition!!! It would appear that the only option now is for the buffoon to take this to production! I fear that those PIs in their 70s might not be alive to reap the profits if any because Ecuador may well take back the concessions long before then. What a shamblesš
Funniest post of the week.
Adikt post.
"My eyes are fully open to all options/possible outcome"
Adikt your in denial.
I've never read anything but you lording it expressing your view.
And finding a hundred reasons why your view is the only view to be considered. And when your view is shown to be ridiculous,
Up pop Tom dick and Harry to support your view.
And when that doesn't work, you resort to.
Sell up and move on or even more laughable,
You don't hold shares.
Eyes wide open, hilarious
Very interesting deal, and incredibly positive move for the copper sector and any M&A deals in play.
BHP's intention will have a flow on affect in the copper industry as this offer signals that the race to secure major copper deposits has well and truly begun.
The market will now increase its activity in regards to copper M&A as mining companies are like sheep and when a really big guy makes a move in a sector, they tend to follow the leader!
Have BHP given up on Solgold? We don't know yet. They still own stock, and even if they pass (or have missed out which may be the case), they would want a return on the 45p they paid years ago. Today is confirmation that we have indeed hit the copper M&A cycle. Key analyst H&P has advised BHP over the years, and they have stuck a 64p target on Solgold by June 24. This is a 30% increase as to what BHP paid many years ago. Would BHP accept a 64p takeover for Solgold or would they challenge it? Even with the Anglo deal in play, I still think they would challenge it but we will know soon enough.
Today also confirms that we cannot believe anything which Henry says. I'll share some recent famous Henry contradictions shortly.
Newmont - are very much still in the Solgold game and are yet to confirm their hand. Was there not an article published last month eluding to a China/Newmont deal for Solgold.
Jiangxi - still sitting pretty and now boast having a friendly as a NED on the Solgold BOD. Perhaps BHP and Hanrine are focusing elsewhere as they have missed out on the Solgold opportunity.
Hanrine - confirmation that Ecuador is very much in her plans with $120m commitment via Titan Minerals. A great story for ecuador mining
Fortescue/Wyloo - Yet to show their hand
So the West has made a big statement today regarding their ambition to aggregate global copper company's and assets.
Its now China's turn to respond.