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We don't need to sell ENSA.
We just need to create some form of non dilutive funding for ENSA that demonstrates we are going to develop it ourselves. Its clear we can achieve this through offtakes, NSR and debt financing, and all from one source being Jiangxi.
Once this has been announced, the SP will fly and you can give the Chinese another 5% in Solgold at 45p a share which will keep the lights on at HQ for several more years whilst we sure up the regional portfolio and define a plan for Porvenir.
Everyone is missing something.
No deal has been done.
Somehow we are going to get funding.
You know that thing the three stooges said was impossible.
If a sale was in the offing, then we would have had a RNS by now.
It's a pi weakness 'watching share prices' on a minute by minute basis. Most II's wll monitor etc but they view things in months if not years and not minutes when it comes to investing. The trading firms do the sub second stuff and leave it up to algo's and bots.
Based on my numbers on volume sold/bought etc since the large 75m block got rinsed a couple of weeks ago, if there was any overhang or some loose stock, I think today will be the day (poss tomorrow) when it's cleared. Then you have a market whereby there is not easy stock to get hold off and natural forces come into play. The mm's know when things are drying up so they manage it well and you'll see a sudden move soon (IMHO) whereby the decide it's time to move into the 9's. First target will be circa 10.5p levels. 11.25p obvious test as 100% level from recent 5.67p low.
The resistance at present or stalemate on the sp (virtually unchanged over last 3 days) suggests effective control of pricing but that control disappears when stock dries up.
Fort, which rules are they?
I'd love for this to play out a few more years in order to receive maximum bang (200p +) but I doubt any major would allow us to remain in such a dominating position.
Last weeks commitment to fund 3,2B spells a deal has been done so this will be announced obviously soon.
SP is set to fly
The SR may well reveal a plan to do a spin off and park some regionals and Porvenir within that shell... then they are free to sell off ENSA without breaking the LSE listing rules for cherry picking prime assets etc.
At moment, they can't sell ENSA outright because it breaks those rules. Instead, it has to be an offer for the whole business (shares in issue).
The Valuestone guy was brought onto the board for a reason or as part of agreed terms on a deal of some kind. That might be asset sale.. it might be funding... it might be JV stuff. But in summary... you don't stick someone like Mr Lui on you board unless you plan to give the chinese something. It makes no sense at all especially based the 6% holding. Giving the chinese a fly on the wall position suggests to some degree that negotiations are already pretty much done.
All IMHO of course.
Volatility can be a b i t c h
BBG, I think Porvenir will go to the Chinese because they are already involved.
Hence, it will either be option 1, or a full sale to the Chinese as per Warren's earlier comments.
I just want it done and dusted. I don't think that my patience can extend to another year of no meaningful outcome and the SP plunging even further.
Roaring back now!!. Feeling much better!!
feeling like a bit of a pr--ck now
Yes, sorry about that. Apologies
This will close in the mid 8's today comfortably as it rerates ever so stealthfuly
Bed wetters
I think it's the ASX being whacked rather than company related
apologies for the panic!
PANIC! MAN THE LIFEBOATS!
Nm
In the absence of a bid and without diluting shareholders, I believe either scenario below will help us achieve a quick ascent to a £1b market cap.
1. A 'JV' covering ENSA + Carnegie Ridge which includes commitment to fund capex requirement at Cascabel, and allows Solg to retain ownership/control.
2. Porvenir sale
Based on what we heard last week at PDAC, scenario 1 above is already lined up and about to be announced.
The question is, do we get to retain Porvenir, will it be sold or included as part of a wider deal that involves scenario 1.
Tesla, given how much the rampers upset you and that you don't actually own any shares, surely the way to cure your acute anxiety and mental distress is not to read this bb?
They're not going to disappear and in the same way people won't pay any attention to the derampers, everyone is more than capable of not taking their advice as gospel and basing their investments decisions on anonymous posters.
1984
I am on the fence regarding climate but not with respect to electrification.
To me electrification is the way forward and if Solg ever get any copper out or manage to sell it, that will be good for their future.
I do despise the incessant ramping on here of which you are not one of the main protagonists, they even accuse you of deramping that’s how deluded they are!!!!!!
I get your view about what it’s worth in the ground to someone, I just don’t agree with it, but to be fair to you you don’t bang on about it like the 2 main stooges who are deep deep underwater.
It may, or may not work out for holders on here but the silly £1 plus predictions are pie in the sky and Solg will never ever see the sp above 50p imo, even if things go swimmingly well, which is a big IF.
The ramping on here is farcical, trouble is a lot of other readers are sucked in by it all and believe all this 💩 posted by red ramper and BBG
Well, BMO is now ready to commit serious amounts of cash into Ecuador and Noboa is instrumental in that process
Nobby's doing a great job for us. In a short space of time he's changed the political landscape for mining and Ecuador is now firmly open for business. He clearly see the country as being the next Chile and understands the huge economic benefits for the population. Let's hope the electorate see it that way as well.
I believe the next election is in Feb next year, so in order to remove any uncertainty we need to have flogged Cascabel before then.
More good news for Ecuador mining investors who seek security of investment before committing large capital outlays -
https://www.mining.com/ecuadorian-government-releases-controversial-prior-consultation-manual/
excerpt
“Continuing with its extractivist and neoliberal agenda, President Noboa turns our rights into a mere administrative procedure to facilitate the interests of the mining industry and speed up the approval process of mining concessions,” the statement reads.
The government, on the other hand, defends that the manual was created following previous statements of the Constitutional Court and Article 7 of Convention 169 of the International Labor Organization, which states that no segment of a national population has the right to veto development policies that affect an entire country.
There is too much speculation, but the truth is in the pudding, but there is a problem: there is no "Custard" on the side.
Tesla1 has spent the last 76 yr's a women in a man's body. The Tavistock Clinic felt it prudent not to carry out the s@x change due to the fact that his pen1s was even smaller than a virgins pus#y.
Failed ramping? No sunshine -Solgold WILL be a multi-bagger. End.
Come on Tesla, you might be blinded by climate propaganda but you’re definitely an intelligent chap
Nobody believes that what a few old codgers write on a barely used 30 year old website can have any affect on any share price anywhere in the world. This is not Twitter, Facebook or TikTok
Still posting lies on bbs to dig himself out of the 💩