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Wow have a read that correctly ...Quady saying easier now to sell or j/v solgold ??, entire entity will be owned by one person Quady even though the book is spread their will be only one conglomerate owning solgold imho in a deal with one smelter company
"Just look at GGP deal with Wyloo. Not a good deal at all when you compare it to what SOLG have achieved. That's $150m raised by SOLG without any equity dilution and a minor drop in royalty income on the asset as a whole."
Apples and oranges, but still a silly comment nonetheless. What's your schtick with GGP? A few weeks ago you told us all you bought in, did you take 10% and sell out? GGP was massively overvalued and in a highly precarious position. Having given away 70% of Hav as part of the JV, it would have been crazy for them to start selling off the profits from their remaining 30%. Instead they secured funding to production (2024 vs 2029+) and secured 3 superstars on their BOD.
My money feels a lot safer there than it does here. Though the upside here is much higher.
Today's deal is a decent enough for result for SOLG, and yes I hold my hands up and admit I called it wrong, as I took Darryl at face when he stated that royalty deals were off the table until we got to DFS (a timely reminder that anything this company says is all one big game of smoke and mirrors). I wonder whether he wanted to sow up the deal with CGP (and in return a few more votes at the AGM) before announcing funding that is invariably going to irk BHP and NCM. Interesting to see how they both play it during the run up this year.
This deal is slightly different in so much that it's $50m and not $100m. I can't argue with your views on CGP re the last royalty deal but in terms of being a poor deal that's where it ends. Apart from NCM and BHP throwing toys out of the pram, just about everyone else was overjoyed with the $100m and lack of equity dilution. Today, Mather and team have delivered another great royalty deal at a time when capital raises are tough. Just look at GGP deal with Wyloo. Not a good deal at all when you compare it to what SOLG have achieved. That's $150m raised by SOLG without any equity dilution and a minor drop in royalty income on the asset as a whole.
BNC... I hear you... but there is a price for those 20%+ CGP votes (post merger) at the AGM. Had CGP sided with NCM and BHP this time around, I think the AGM would have been ugly for us smaller shareholders. Instead, we now look much much stronger, fully funded and BHP and NCM can't do squat. That's taking the company back into our CONTROL.
It's terrific news and anyone that thinks equity dilution is better than a royalty deal needs their head checking... Orthernkeeper... what are you on??? Shareholders crying out for monetisation and SOLG delivers again.
I'm over the moon and looking forward to see what BHP do next. The AGM disruption ploy is a no go now. They have one option left... make a bid, or discuss a ENSA deal or just watch from the sidelines and see the royalties/streamers gaining more and more chunks.
Now, what about Mitsui?? Are they lined up next in 6 months time?
Addicknt you are partially correct, I now agree a sale of Cascabel or JV is easier once we own 100% of ENSA.
But to sell Solgold as an entity just got harder as the book is more diverse.
To be fair Quady please buy us is not something
Any good salesman would ever say
Jerry all those things have been mentioned this year.
Also when is the last time Solgold has said please buy us.
I don't think I have heard that one.
Hh is a difrent class can we all agree to share and be difrent going forward (I dout it )
CGP shares trading near June 22 levels now. On a comparable basis and like for like on time frames (June 22) SOLG were trading at 35p.
We've practically added 15% of the market cap today with the royalty deal based on just 0.6% lifetime metal sales.
The market was waiting on the fund raise. The market got news of the $50m raised but the market didn't get a slice. Poor old market. Now the market has to buy in the OPEN market.
Shame!
Well done Mather and team. Another victory for the little guy.
Solgolds path maybe to production however (fingers crossed) we’ll be brought out before then.Otherwise N.M. Will be the Hugh Hefner of the mining world
lol I have just been reading a big spiel by NM about how Solgold are going to take Cascabel and many other tenements to production over the next few decades and I believe they will be taken over..just thought it was funny reading your comment Jerry as I was going to post how many projects Nick had been involved in and none had gone to production but hey ho clearly things are afoot one way or the other
hi max
couldnt agree more matey
however when NM did the deal with franco for similar funding arrangements the world and his wife jumped all over NM for doing such a stupid deal..........
slated by NCM BHP CGP and anyone and everyone who wanted to sl-ag him off
move on a couple of years and we have the same/similar deal..........and it's welcomed by those that previously sla-gg-ed off such a deal................... turncoats n bill shutters all of em!!!
cant see NCM nor BHP welcoming this latest news...............
but I'm with you max - fk em!!!
bn.c
Q, when was the last time any director mentioned production, becoming a miner or Plan A?
Zoros
The latter option obviously!
Frog
Q, the terms of reference of the review states full or partial acquisition of ENSA or Cascabel. And it's quite easy to understand what was being implied by the final point when it talks about other options.
You know full well what's going on and have previously agreed a disposal or sale is now a possibility...why deny it now?
Addicknt there was also no mention of selling or a bid. In fact, there never has been.
Q, how about this mornings statement from the chairman's. It couldn't be clearer and there was no mention of Plans Aor B.
Still waiting for an answer HH: how can/will the SP be 30p by Friday?
Rednight: you've now shifted from 30p this week to 35p by year end, sort yourself out.
Z
Dart - I admire your loyalty and optimism. Pray to God that we don't go to production, why? Because if Solg towers states open pit in 2026 followed by Bulk mining in 2028, you can add 2 to 3 years onto that atleast due to their lack of drive. Add to this Lasso will probably be booted out in 2024 and there you have the ingredients for another run of delays which hits each and every one of us in the pocket.
Which would you rather have: a sale within the next 6 to 12 months for around 40 or 50p or double that @ production (if it ever gets there) in 2028+?
The stock is a dud........sell it off so we can do something useful with our money before we all loose the will to live.
Z
Red nearly every sell bought into today ,this will continue to rise pending more news imho we not had any drill updates for nearly 4 months now
351,862 at 18.20 up 8% again on the day...
Excellent
Of course they have to still keep working towards production, but they're only soending $3 million a month, so we've just raised 17 months worth plus probably another 8 months that we still had. And thats without the proceeds of the CGP stake in SOLG which would probably go for at least $40 million...
Happy days...
But frankly I would rather that we were bought for 125p and I can invest the proceeds in the welter of beaten down high yield UK stocks...
What are you waffling on about now Fort?
Nobody has ever doubted the asset.
Essence of the story folks - don't harbour any reservations about how your investment is progressing as Fortissimo will label you a bed wetter.
Laughable.
Don't be naive DartFrog.
80% of the shares are NOT held by PIs...
If anyone is determined to buy us they will have to pay the right price because there will be ,ore than one suitor and the Bpard won't let this go for a song.
Mather and his interests own almost 300 million shares. In the past he has made it clear that Solgold will not be sold for less than the NPV of Alpala. DC says that is a minimum of 78p.
Given the merger, the people concerned (especially Sangha, Irwin and Mather) I am certain this is being cleverly engineered towards a sale. Sangha owns Maxit; Sandeep Singh, chief of Okritis is ex Maxit. Maxit are advisors to both companies.
I believe it will go like this now that we have no cash worries until DFS is complete (once the CGP 6.7% stake is sold).
Sale of the 6.7% stake to the highest bidder, at a price which will now be significantly higher before today's RNS, probably at least 25p.
That will add momentum to today's move. Remember we were 35p less than 5 months ago and we were 28p in July when the copper price was 15% lower than it is now.
There is then Porvenir and Alpala PFS Addendum news to come and I see no reason why we shouldn't be back at 35p before Christmas.
There are people who have been on here longer than me and I'm at least 8 years.
This is at least the second best new Tier 1 copper asset in the world, even without the huge amount of gold.
The idea that anyone can steal it for a lowball price is preposterous, especially as BHP and NCM's holdings are about to fall to just over 10%.
Noront was 23c before the bidding war between BHP and Wyloo started. BHP lost out and Wyloo paid 110 cents.
The only thing that can stop this going for probably over 100p is a crash in markets in general.
Thats why the Board is getting on with it.
Addicknt please show me anything than says plan A has been superseded by the review.