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Lunch ,oh yes
Sean yep big bounce on news coming leaky ship
Insiders clearly knew there was an RNS on the way. What a leaky company.
However, all that buying couldn't have been for this mornings nothing burger.
Starting pistol went off too soon.
I expect a good news RNS later this week.
I try not to wade in here too often, but I agree with you on this one, and we have to start looking a lot closer at reality.
At the moment we have a valuable asset, that is not in dispute.
However, what we do not have is a plan or a board willing to deliver a plan to realise the asset.
Founder (NM) is quite clearly of the opinion that we can go it alone and develop the asset, but there is very little reason for anyone to support us in doing so - they would be stumping up the cash and the mining expertise whilst leaving a lot of the profit in the hands of SOLG that will not be contributing anything going forward.
So the obvious solution would be either a full sale of the asset (maybe just Cascabel in the first instance) so that the buyer can exploit it, or possibly a JV where SOLG are a very junior partner. The alternative is to carry on business as usual until we can find no more 'easy' money to keep us going and then trigger a fire sale.
Obviously I don't want the latter, and for me the former would be best for holders - we'd see a decent chunk of cash returned to shareholders and no longer have to support a board that seems to have lost it's way in the last three years.
Looking at the official news flow, I feel that this is what is being prepared for at the moment (I know that contradicts me saying that the board has lost it's way, but I think that they are to some degree making plans again now); getting full ownership of the resource is one step; the royalty deal is a small stepping stone to allow us to continue operating long enough to create a sale agreement, it is not long term funding and does not actually enable us to exploit anything, anyone that thinks otherwise is following a red herring in my view. The next step came this morning, with a very clear statement that we have enough money to run for another few months, but are not planning to do anything other than keep it ticking over.
I don't know what the final value of this will be - copper is currently in high demand, and that is likely to continue throughout the coming recession; gold will piggy back that copper demand as a circuitry component, so the value of the asset is not going to diminish anytime soon, but whoever takes it will need deep pockets to exploit it within the constraints that the local govt are imposing, so the value in the ground is not a good indicator as to what may be realised.
Just my opinions, got too much time on my hands this morning!
T
Bob indicates in the article that these studies are a waste of money and that a sale or partner at asset level is achievable without these studies. So do not wet the bed. This is from another investor: "We are not going to be building this mine and anybody who is will take our $60 million study and throw it in the garbage. To [complete a feasibility study] DC will dilute [...] and weaken SolGold [....] "
Dbw, this is where I would suggest that the equity SOLG has built up amongst communities & w/ government would be the only value-add we could bring to the table in a JV situation.
Mister a JV makes the company less valuable IMO and too be honest what have we got to bring to the party once deal is done ?
Surely it is in SOLG interest to get PFS2 out as it makes the JV/Sale more valuable.
Correct dbw
Nothing I can find about PFS MRE delays ….
Pea and pfs are in the schedules of work to end financial year 22/23 on June 30th
That doesn’t mean they’re delayed it just means they’re budgeted in that financial year
It’s simply assigning which tasks are in this financial year
Or that’s how I read it
Red if you read your post back, you sound those people standing outside William Hill.
Let’s hope it is…. Anyway.. for some reason I’ve posted far more today than I normally would do.. so I will leave any more till another day.. I feel like I’m just waving my fist in the air shouting at our position…
Orthern...you'll be sorry...we now have 2.2 million riding on this...
I have zero faith in this shower of s@@t either.......
No clear leadership, No plan, No cash, rudderless , clueless !
Anytime we get cash it vaporises into thin air.
Get nick back to the Helm
Orthern I’d never claim a deal I’d in the bag , I just think it’s by far the most likely scenario now
I sold a good chunk on the day of the PFS when it was released without any supporting finance information or plan.
Even at these almost all time lows, I can’t bring myself to put that money back in here.. even when many proclaim a deal is in the bag… I have no faith in our board.
Orthern not totally against the idea of a JV just can’t see it happening….. lock stock takeover in my opinion….. would also explain the reduction in staffing numbers and the lack of urgency with the addendum….
Don't even think of selling...not long now...?
Orthern
Redknight’s fantasy takeovers, Mitsu taking a stake, Boliden etc BHP….The Chinese……the guy is just desperate
He has pretty much covered every eventuality depending on whether he has bought or sold that day…..
Fair comment
When do I expect to see a respectable out point Bubble?
I honestly can’t answer that.. I have no Idea. But as I have posted previously, I never underestimate our boards inability to close a deal… it could be a long wait.
Orthencopper and when do you expect to see that?,looking at RNs agree that slot to do with past mismanagement,so copperpot bearing in mind the recent changes and interest in cascabel to be sold off or j/v there's value still to be had here imho
DBW, a JV with anyone other than BHP would be ok.. certainly an improvement from the glacial, status quo we have been stuck in for the last 3 years…
But I will be happy with any successful monetising at this stage…
Give me a respectable out after all the years and I can go and invest my money elsewhere. 45-55p is my guess… which when considered against lost opportunity cost elsewhere, will frustrate, but will close the door on the investment here..
inflation is predicted to be half what it is today in around 7months.... pfs2 certainly better released then than now.
I think the md&a reflects a lot of the old business under darryl and doesn't relate to the new business that is post merger. Sept Q in the past. much has changed since then including the Capex spends.
Reading Sean's post bragging on the other board about making 37k net in this share over 7 years made me laugh... joker!