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i would say more like letting the Solg female lions do the hard work and explore and firm up the resources and the BHP/Newcrest hyenas elbow in to "steal" the catch and take everything for themselves. Except hopefully we have a male lion around to keep them in check.
No, it looks like we're gonna be stuck in a groundhog day type scenario, start the week at 30p go up a bit go down a bit and close the week at 30p and so on and on... Someone really is trying to prise these shares out of our hands cheaply by boring us to death HODL I SAY!!! good things (hopefully) come to those who wait ; 0 ))
Looks like after hours for MD&A
That’s gold.
Agree, but they are and would be constantly looking over their shoulders.
Regardless of their holdings in Solg, this is going to the highest bidder!
schlem, I love the analogy of a 'pigeon crapping on your parked car'.
BHP and NCM are shareholders and that's all they are. If they think they can sit on the register for years hoping to pick up SOLG or hive off SOLG's reserves at a cheap price then someone on the board needs to put them straight
I am sure we can raise funding for exploration from any quarter. We don't need cash from BHP or NCM
We've just raised $75m. It's pocket change for SOLG in the sense they can raise that amount from any old source
What are the intentions of BHP and NCM? We (shareholders) need to know but more importantly the market needs to know. At the moment these two miners are sat on the register like a pair of annoying pigeons crapping on your parked car
And why did Newcrest not become a GGP shareholder but chose to enter into a JV? If they can do this with GGP then why not with SOLG? Is SOLG resisting this? Have BHP and BCM suggested this approach only to be turned down by SOLG
The new CEO may provide the market with some clarity on all of these issues cos at present it is clarity and direction we need
BBG, I suppose in an informal sense we do. But we're a long way from being a fully fledged jv, with all the attendant advantages/disadvantages one could bring.
It's almost as if we're being led down a path to the position whereby BHP are wholly comfortable with the long term prospects and, when that stage is reached, they'll seek either an acquisition or jv. The cost to them of reaching that situation is a willingness to contribute to the ongoing funding.
Don’t we already have a JV in the form of NCM and BHP on the register who are both happy to contribute to future capital requirements?
The question is, how far can we go without seeking their assistance.
Our regional portfolio will hopefully unlock several ways to fund Alpala development, as maybe will Tandy open pit
BNC, Jerry's original post was merely a reference to Berenberg's belief that one of the best ways to unlock shareholder value in junior exploration companies is via a jv and as such it was entirely relevant to the discussion here. In my opinion it makes no sense to ignore comparisons with other companies - the market doesn't and neither should private investors.
Your criticism is unwarranted.
You may not want it but the SOLG folks in this board don't want to be listening to you spouting on n on about that share on the SOLG BB.......you can discuss it on its own BB.......and please do.......it's been noticed how you've recently shoehorned it back in here.........by a few........
BN c
Thanks for the unwanted advice bnc but I was responding to a point made earlier.
Regards.
Jerry
This is the SOLG board NOT GGP!!
Go discuss that share in that BB please.
Ta
BN c
Updates are now quarterly Covgaz......did u not get the memo?
U dustin your wallet off if u get sub 25.5p?????
BN c
Covgaz I dare say Ecuadorian government will play there part in pushing things along.
We all know that bhp can sit and wait but I doubt the government will want to play that game.
But we all hang in their with the positions we've built over the years because we all know that 1 morning we may well wake up to the block buster RNS we are all secretly hoping for!!
Hi BBG , I am following , just putting the doomsday scenario out there. I realise it's highly unlikely it would happen .
This board actually teaches me all the info I get , maybe they should do better!
Just in jest , it has been going on a long time though with no end in sight until 2027.
And add no news updates into the mix , wtf is going down here??!
Hi covgaz, I’m not sure if you’re following regionally but we can sell a bucket load of assets to fund alpala development.
Whoever remunerates you should try find someone who follows the story a little bit better
For the record, as I was asked, I don’t mind NC taking ggp out, but they won’t squeeze ggp out, as ggp can fund its share of the development. Big difference.
and...if no offer ever comes , we constantly need to raise money , and we can't raise the 3 billion , it'll be 5 by then,.....to go to production? Are we then CPR THE SECOND! Or do we get taken out cheap?
Amerisur the second here , we found two of them CD , how's our bloody luck.
I can't remember Bhp or NCM offering us a jv only a ridiculous low offer which was rightly turned down.
So until then I guess we prove up and try to bring to production until someone makes us a decent proposal whoever they are?
sorry, some of my spelling went awry in that last post.
Yes, that was a mysterious reference, although I suspect it didn't have any deeper connotations.
It doesn't matter how many times I think about our situation I always come back to THE fundamental point; which is that BHP will not be happy to sit back as small minority holders. I simply isn't what hey do. Had they not stood their corner in the latest fund raise I may have questioned my argument; but they did and it was a very clear signal of intent.
Anyway, like everyone else, I'm eagerly awaiting the next raft of new, which can't be too far away.
Yes and do you remember that interview with the CEO of Franco Nevada last year, where he was talking about the Solgold deal and he said something very casually along the lines of "it's a block cave, but you've got Newcrest involved so it's all fine". It made me think that even though Solg hasn't got a formal JV in place with a major, the fact it has two majors as its biggest shareholders means that they really are already part of the action here. I don't think truly "independent" production is on the table in reality, ultimately one or both of BHP and NCM are going to be doing a lot of the actual minebuilding. The question is in what format will that arrangement play out.
rcgl, thanks for the reply and I agree with much of what you say.
Having been one of the GGP shareholders who managed to buy at a very low level and sold out in the low 30s, you can probably guess that I'm rather happy with the performance, but I absolutely accept your point about the position they find themselves in vis a vis NCM (Jerry may well disagree). But I do wonder if any junior miner has any choice if it wishes to participate in the long term? It seems to me the ONLY choices are jv or full sale. As you know, I simply don't buy the independent production narrative.
Hi add - the thing is, you can pick and choose any snapshot timeline to support any given narrative can't you. You could buy Solg for less than 2p in late 2015, and by mid-2017 it was over 40p. A huge gain of more than 20x, with no JV in sight. Or as shipright just said, you could have bought Solg for well under 20p in March last year and doubled your money by October.
I seem to remember last year when NCM were moaning about the FNV deal that the prevailing feeling was that they just wanted to rack up their equity stake in Solg and then squeeze the rest of us out on the cheap. What's to stop them ultimately squeezing GGP out of Havieron, isn't that their usual MO?
In the meantime, just because Solg hasn't entered a JV yet, doesn't mean it can't or won't in the future. GGP's main focus is Havieron, and I thought Scallywag didn't come up trumps as expected. Solg has way, way more on its plate with Alpala, Porv and all the rest. It may make sense to JV or sell some or various projects and not others, we shall find out in the future. It could also be that the more Solg proves up, the more likely it is that it can either hang onto a greater stake in each project even if a major takes a majority stake, or it might end up getting taken over in its entirety for a higher amount than would have been realised by JV'ing Alpala too soon.
And yes I was being facetious with my comment about GGP but to be honest I don't think it's fair just to write off shareholders who are down on their investments as unlucky suckers. We all want the SP of our shares to go up so we can sell them on to someone else at a higher value. People on here have often complained that they think it's the company's duty to maximise the short term share price so investors can cash out, they seem to forget that by cashing out you are selling your shares to someone else whom the company also then has a duty to maximise value for. The company can't just say sorry folks, we sold all the family silver so the last lot of shareholders could sell you their shares at a higher price and now the cupboard is bare.
Guess their view has been and is that in the long run they can unlock a lot more shareholder value with this strategy than they would have unlocked by just JV'ing everything in sight. And if Solg gets taken out wholesale at a premium in the meantime because it doesn't want to JV its assets then that's also a good result.