The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Sjn
Morning… yep said the same yesterday they’d have stopped drilling to conserve cash by now like they did on other licenses. Plus I was told that after the gaff at Rio ( reporting after half a hole ) they would in future wait until they had full assays from a few holes before reporting. If the results are noteworthy they will be released in a stand alone RNS
They are drilling Moran guys. The belief is discoveries are scattered round Cascabel in a 'hub and spoke' fashion, and it sounds as if they believe Moran could be another hub given they are spending money drilling here with very little cash runway left.
I am amazed the sp is where it is given the news we have had in the last few days. If a ftse 250 co. had releases similar news it would have darted up by now. Still, happy to hold.
Have a great day all, closer. C
Morning addicknt, then if you're correct why are the streaming chaps looking over Cascabel.
Apparently they are still drilling at present at Moran. There must be something there for them to still be drilling.
2.5 million x say £1.50 pr share sale nice return for selling solgold Red
Sorry about predictive text... so annoying! Tenstar and Norges.
Q, you're making a mighty big assumption that BHP/NCM/CGP will agree to another Franco type deal. The way I see it is that there's absolutely zero chance of it happening - mainly because the CGP boys would have made their intentions perfectly clear.
If we assume post CGP deal that there's about 45% in CGP/Mather hands with tensor and a few others.Then you have BHP and NCM around 11% post dilution. Blackrock and forges near 9% combined.
That's 65%. Add in 20% retail investors and that leaves just 15% II's or HNWI'sor HF or FM's etc.
So although 20% sounds like a smaller number it's actually more powerful than it sounds in context of all shareholders.
Numbers are approx so giver take 5%here or there.
Good to know Darryl and team understand or have been forensically inspecting their shareholder numbers lol! Anyone might guess they reweighing up their chances at the upcoming AGM lol! I think they'll be desperate to get the CGP deal concluded before the SOLG AGM and bag that 20% voting slice. So much better than the 6.7%.
2.5 million is nothing...
And please note...
MAXIT ARE M&A EXPERTS
They(Bob Sangha) own 11% of CGP
Maxit have been appointed to BOTH CGP & SOLG
There is a sale process underway.
Remember, Nick at Noosa said SOLG was developed to be sold and
Brooke Macdonald said CGP would be sold before end 2022 months ago...
It's only a matter of time but it better happen quick cos theres a global market fall coming...
One last point. Some of the let's flog it cheap brigade on here suggested taking Alpala to production was now off the table.
However we have streamers looking over the site, and the only reason they would be there is if we are going to production.
My thinking is thus:
When we did the Franco Nevada streaming deal it was ring fenced for Cascabel only.
Any streaming deal again will be for Cascabel only.
Why would we require funds for Cascabel only.
It would be to take it to production.
Agree Add. A couple of weeks ago someone on another group shared the top 20 holdings list from Bloomberg. It showed the position changes. Virtually all of the institutional holders were unchanged. The ones showing large changes were all the retail share dealing custodians like Interactive Investor, Halifax, Barclays, Hargreaves Lansdown etc. Interactive was down almost 2.5m.
What this suggested to me at the time was exactly what you just said. The drop in the SP has largely been caused by PIs panicking and selling out. Institutions are holding.
Yes addicknt I picked up on that.
I seem to remember when the PI's voted on Nick Mather we were just over 40%
So if yesterday's figure is correct then the book is even more diverse than I thought.
So hostile bid all but impossible.
Agreed bid possible but not cheap, otherwise we proceed towards production.
Lastly and I believe this does have some legs.
ENSA becomes an entity within itself and either we take it to production, someone JV's with us or now that we are in the process of consolidating it, we could possibly sell.
However that is dependent on if anyone out there will pay our price.
DC said quite a few interesting things yesterday and I noted the comment that only 20% of shares are held by private investors. I think the consensus on here was that it's much higher. Of course, this means there are far more institutions holding below the notification level than we suspected and they've not been trading.
My guess is that this percentage of institutions is far higher than you'd normally find in similar companies and must be testament to the fact the endless roadshows have been far more successful than we - or certainly me, thought.
So all the volatility is caused by a few Herberts like us - that must be frustrating for the management team.
If you're not already on the train people need to buy their tickets sharpish ! I can hear the quacking getting louder by the day,
ONWARDS AND UPWARDS !!!
TheItalian, no corporate event = collapse...it's that simple.
The Review announcement and yesterday's presentation indicates to me that we are further down the track than some may think. I suspect DC would not have gone public with all this unless good progress has already been made...why take the risk of failure and humiliation?
As DC said, the Review and whatever flows from it, is separate from the CGP deal. What this implies to me is that the deal is part of the marketing process i.e we are able to say to any buyer; "Yeah, well look (copyright DC), we're in the process of tidying up the ownership and can now offer you complete control"...this transforms our attractiveness.
For all the reasons people suggested yesterday, this is a sale process and I'm amazed the market hasn't understood that.
Evening all. Fill your pension fund. This could be 60 by end of year !!!!!
GLA
DK
Always manage to hook one!!!
ONWARDS AND UPWARDS
isn't this a UT transaction?
Not liking that big £64.8k sell just after the bell …
Somebody knows something?
I am as excited as anyone of you, and I have been long invested in SOLG, having also traded up and down aince 2014 making xonsiderable profit.
While I alao share the view that we might finally be on the verge of the long waited rerating, let's also keep our feet firmly on the ground.
DC saying we are worth north of 78p based on the resource means nothing, we have been discussing this very topic a million times and in fact I have 82.5p as a theoratical value at the feasibility stage in my model, which I was discussing last week. But nothing has changed, if there is no actual corporate event there ia no rerating, and 7ntil then the price will reflect a company short on cash.
GLA
Dow Jones up aswell maybe a rise on FTSE and here tommorrow we can hope !!,did see a 1 trade earlier lol!!:):)
I'm going to buy more tomorrow if the share price dips a bit more. Today's presentation was pretty clear that they expect to bring in at least $30m USD for the 157.1m shares, which translates to 17p/share. CGP are already speaking to several potential investors and the message was loud and clear today that funding will be resolved shortly.
Up 8% on tsx
Programme:
17:00 - Opening remarks
17:05 - Ecuador's Mining Potential
17:25 - Panel and Q&A
18:20 - Financing Mining
18:40 - Sustainable Mining
19:00 - Networking Reception
Speakers:
Xavier Vera, Ecuador's Minister of Mines and Energy
Sebastian Corral, Ecuador's Ambassador to the UK
Marc Bishop Lafleche, CEO,
Ecora Resources
Fiona Clouder,
Senior Advisor, Appian Capital
Clive Line, Finance Director,
Serabi Gold
Rafael Valdivieso, Partner,
Bustamante Fabara
https://us02web.zoom.us/webinar/register/WN_3VA2rohhTNCLBV8l9XpLSw
Will be interesting to hear the equador mining minister etc