Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Thing is DM, I think it’s safe to assume the Porv study has disappointed…
Our board went very very quiet on the Porvenir front a long time ago.. All positive comments that had once flowed there, ceased waaay back... The PEA was due to be released right at the point it was shelved, even Investor relations were continuing to express the plan was to release it when I asked If it was on schedule, so one would have to assume it was all but completed and the work paid for…. If there was anything positive to give to the markets, it would have not been canned.
Despite people on here fantasising that our board may be strategically holding back good news, Solg have NEVER held back positive news, and why would they when the share price is on its knees.
We are, where we are now… there is no point in dressing it up or trying to see it through rose tinted glasses.. we are just drifting, hoping, or praying, Maxit can fix it all by monetising our only proven asset.. it’s a sad place to have found ourselves after all the years of hype and bluster. We’ve given Bob the paddle to our canoe after we got stranded, trying to bluff the mining world we could become the next supermajor on our own.. I hope he can get us a result.
You clouldn't be more right DM...
Once uopon a time we had 'shock and ore"...
Now we have a deafening silence...
Even if (as I believe) the plan is to sell the company, you wouldm have tyhought that a PR blitz would at least get the SP higher for a starting pointg...
Stukey - are you referring to the special resolutions which failed to pass at the last AGM? You are right if that's the case.
I thought NCM/BHP/blackrock blocked issuing large quantites of shares which needed above 75% to be approved.
I will get back in my box
Ship,yes I know talk about manipulation!!
Apologies RK. Got lost in all the drivel.
We are not producing any, We are not doing any exploration, we have no current plans to do any further exploration.
We have essentially shut down all operations until further notice… meaning beyond the long hoped for monetising event, we have nothing to offer any potential investors. We are just sat hoping, praying, Bob will deliver something for us… that is not a strong case for anyone to buy our shares.
It currently seems like this share will never see north of 20p again until Bob, hopefully gives us good news. There are no other price elevating news events on our horizon. So we just drift..
Both smashing it and solg can't hold 16p. Wtf?
Thanks Eish
The world can’t live without copper. Its use dates to ancient Egyptian times, where it was used to disinfect wounds, and even further back than that as material to craft weapons from. Modern uses take full advantage of its heat and electrical conductivity, from electric vehicle engines to power storage and household wiring.
You don’t typically need to dig too deep to find copper ore deposits, with most mines being open-pit and close to the surface. Underground mining is less common and more expensive.
Demand for copper is something many see as only going in one direction, up. Glencore, one of the world’s largest miners and a significant contributor to the global supply of copper, expects demand to outstrip supply by around 50 megatons by 2030 based on the current trajectory.
To put that in context, Glencore expects total copper supply to reach around 300 megatons by 2030 - so there’s a significant shortfall based on those projections.
The mining industry at large has been wary of making large multi-billion-dollar investments to bring new sites online. As costs continue to rise, large scale greenfield projects could be even more unlikely. In fact, Glencore estimates industry investment in expanding copper supply in 2025 will be some 61% below the 2012 peak.
For the bigger players, we expect to see more mergers and acquisitions. Rio Tinto’s work to acquire the remaining stake in Canadian mining company Turquoise Hill, for $3.3bn, is a prime example. The deal will boost Rio's stake in what's expected to be one of the biggest copper mines in the world. Rather than starting from scratch, increasing its stake in an existing project is a lower risk option and a good move in our view.
As far as supply’s concerned, the likes of Glencore are waiting for the market to be crying out for more before taking any real action. Glencore’s lined up a potential new project in Argentina, which would mark one of the first greenfield projects the company has taken on in a while. But, it’s very early doors.
New solg shares issued on merger completion cancel the current short position, so any buys are nothing to do with short covering. Tik tok yawn... have a good one. C
Or the first bid...
Eish,look at price of copper!!!
RK understood your plan.
I know you are exceedingly confident of a near term bid. (I hope so also)
However should that not be satisfactory, we will be better placed if the option to issue shares for JV if we can get authority to do so. I believe we don’t have this currently as 75% needed for authorising. We will not have a better opportunity to get that, than when 157 m shares come in house. Get the get out of jail card, then use them to enhance the share price.
Come on ladies let’s settle this respectfully no one knows the answers here, it’s an enigma that will surely make us larger holders extremely wealthy…. One day lolzzz
I repeat my answer. I don't know.
RK, I repeat my question. Does Solgold have the authority to do a share buy back?
DTH … for once I don’t disagree
Some of it is shorts being closed out imo...
Nice explanation and possible options for a strategy going forward, Red! Nice!
No need to be negative here! The only way is UP. Gold hit $1940/Oz today. Steadily up!
Novice...the £172k was the UT...which is pretty good...the 445,000 was a welcome bonus.
Pretty good volume day all round with a higher average trade size...
Do psome people know more than we do about an imminent bid...?
Hi Stukey...I think you may have misuynderstood.
1 The merger document provided for the possibility of SOLG paying a cash consideration up to 20% for CGP shares. In the event this wasn't needed, probably because 99.98% CGP shareholders voted for the merger.
So that saved us up to c$30 million, which coincidentally is more or less what we raised by the share placement.
2 When the merger completes by the end of this month, we will own the 157.141 million SOLG shares that CGP used to own.
That gives us three choices:
A Cancel the shares, thereby reducing the shares in issue by 157 million
B Keep the shares in Treasury, from which they could either be redeemed in future
C Sell the some or all of the shares (e.g. to Jiangxi as some have mooted)
However, we don't need the cash, so I would be in favour of redeeming them.
3 Whether or not we keep the shares in Treasury, we have saved ourselves up to $30m. We have a total of $80+ million, so
4 My suggestion was to use some of our cash to buy shares in through a share buyback scheme.
Putting it all together, we would have taken 157 million shares off the market and, in a thin market which is regularly bidding for up to 700k shares, I believe it would not take much to push the SP up at least into the 20s, which would be a better starting point before the inevitable bid(s) arrive
Hope that helps...cheers.
Oooooohhh and now on top mmmm lovely ;)) what an absolute fool
****ed I missed that. He got what he deserves.
lovely big £172K buy at the bell there... bodes well