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You didn't really get the point u was making Quady.
Another company, with a smaller but economically not dissimilar project to cascabel has been quoted double digit % points on their bond coupon. The situation would be no different in your $2.4bn of loans case.
Just think about what that does to the Cascabel IRR on current studies.
That I'd why Mather has relented and got into bed with Cornerstone and that is why the strategy has gone from development to a strategic review, the outcome of which will not be to JV the asset unless Mitsui makes us a very very generous offer.
Humour me Bozi
How much money do you reckon Solgold needs to raise before we can acquire loans for the rest of the 2.4 billion dollars to construct Alpala.
Quady - raising finance for 100% of ENSA is so far off the table now I can't begin to explain.
I know you'll dispute it, and you're entitled to, but believe me when I say that no financier will go near Cascabel at the moment.
Look at the rates of interest we can all get on our bank accounts now vs 12 and 18 months ago. We're up at 1%+ vs 0.1% back then.
This unfortunately means that interest rates on debt have also climbed by the same order.
Those companies that snuck their finance in last year or in Q1 this year made an inspired decision, given that rates are set for further near term hikes.
There are some other good minerals projects out there looking for finance and they're getting nowhere. The horse has bolted, the boat has been missed. If we wanted to fund 100% of ENSA then it needed to be in binding agreements back when Ingo said he had assurances for £1bn.
This now needs to go to a company that can fund construction from it's own cash reserves. That rules many out. That cost of capital will beat anything banks, smelters and offtakers, streamers, and bond investors can offer right now.
I'm just being honest. Now is not the time to go out to the market with a large package, whether that be £3bn for 100% or £600m for 20%.
Bozi it makes perfect sense owning 100% of ENSA.
It the ability to raise finance on more preferable terms.
Is this an attempt at a Haiku? I've tried reading it in different iambic meters... Nothing. Very strange punctuation.
Oh well- couple of percentage points up, and lots of interesting discussion about the possibility of a JV if we don't find a bidder any time soon. Good day all round.
BOZI
Read back , you are not a victim here ..
You are very much the instigator of harassment and always trying to call people out, on this forum .
You are always in the mix...
As for me!!.
Apparently , I don't understand the concept of the English language.
So how could , I possibly....
Put any form of debate. And answer against , the great cut and paste knowledge you have.
Hence why.
The original question, you seek answers for .. are denied.
My research my options on what I feel is a fair price , and when I shall sell out for.
Have a nice day , if you can. CMG
CMG - no I didn't.
I said I'd be interested in your workings and then you rambled on with some claptrap like "you've got your own system and you keep it close to your chest like a poker player blah blah blah."
Look at the thread. It's all there. And then you tried to threaten me by saying I wouldn't be the same in person.
Well what is the point in you getting involved in the discussion if you're not willing to explain yourself, share your knowledge, etc?
Stop casting aspersions, learn to give as well as take.
Smickster - don't get involved, please.
Until you have to put up with getting jumped on for providing an opinion and then accused for being a keyboard warrior (when I did nothing of a violent nature), then you should probably just hang fire.
Bozi
Wind your neck in pal, Slug is our resident 6ft4 hard man.
Listen BOZi
You seem to be trying desperately to spin this back on me and you are the victim.
Iyou tried calling me out , and seem to get a bit more frustrated. At the fact I owe you nothing in converse here.
And listen very carefully, put the keyboard down and go a walk and get some fresh air.
You are acting like a child now.
Stackhigh
I'm not frustrated nor angry. .
But thanks for advice, I shall try harder to better my English.
CMG - enough.
I don't act smart. I discuss SOLG with other likeminded investors.
If you attack me though, as you started in your post at 13:57 and then ratcheted up at 15:01, then I will stand and fight my corner.
For the record, I'm not smart and I don't act smart. I contribute to the discussion here, just like everyone else. I've been corrected myself on numerous occasions and I will occasionally clear something up for someone else.
But if someone attacks me without knowing me for not having experience, as Redknight repeatedly has, or today in your case, then no, don't expect me to lie down quietly.
And another thing, I certainly wouldn't be backing down in person either.
It was a genuine question, cash. I'm not trying to wind you up further (you already seem a little angry/frustrated?). Just trying to help. If you don't want to say, or you'd prefer to keep trying to use English, that fine :)
Stackhigh alias BOZI.
That's funny , if you can't make sense of a post.
Cash, where are you from? Perhaps if we were to converse in your first language, people could make a little more sense of your posts? Someone might well be able to translate: It might just make things a bit nicer for everyone?
Listen BOZi
I have my own working and game plan .
So why don't you stop acting like some smart guy/woman.
Cause I can reassure you , the tone you are using now. Wouldn't happen in person.
NO.
I don't have to put anything on here to enlighten that little ego you seem to have.
Let me point you back to the start of the thread. Ortherncopper comment I was replying too.
And you jumped in, on it.
Saying 40p is solg worth !!
And now changed time at it's actually worth more.
CMG - I see you took one line with my post and ran with it.
My thinking for you being Novicehunter under a different account is because you use very similar language in a very similar way. You both manage to say a lot without saying a lot, if you know what I mean.
If you say you're not, then I'll take that at face value, and I'll point out that
1. My polite request from earlier still stands
2. You need to retract your comment about me telling people to sell.
We can call it quits there if you like and save everyone the cr*p?
Sorry CMG...Bozi is filtered...
No, CMG, it was you who brought the '40p range' up in your post at 13:30.
All I did was gave you a valuation basis for that sort of figure based on a post merger issued share capital.
You still haven't shared these figures with us all. Why are you so desperate to cling to them? Is it because you really don't know? There's no shame in admitting that, you know.
Redknight1
You are asking the wrong person that question?
I didn't say we would only reach 40p .
That was BOZi
I agreed , that would be a price many would sell if 40p range was reached.
BOZI
Thank you for answering.
I see you have resorted to the first form of defense . (attack..)
I'm not novice hunter ...
So you show the world, since you have called me out!! That I'm holding multiple accounts, and novice hunter.
LSE admin can easily resolve any queries you have on me.
I'm the one and only CMG.
I will give you time, to say you are wrong on that comment on this thread .
Almost 8 months...
Take out the spike in April and its at an almost 2 year high...
SOLG at 20.15 on TSX...
CMG - are you OK there? You seem really incapable of dealing with nuance.
In my last couple of posts I have said that on a pure valuation basis, assuming a discount to the latest NPV given the stage we're at, a valuation of $1.5bn might be about right for Cascabel.
I'm also of the view that if Jiangxi can add the competitive tension they've surely been brought onboard for, then it may be possible to squeeze more, provided that any interested parties extend themselves during a bidding process.
That's it. I didn't think I'd have to be so explicit but there you go.
I categorically am interested in what you have to say. I wouldn't have asked you otherwise. I don't know what you think I am, but I'm no manipulator.
I also haven't told anyone what to say or do, so you can retract that thank you very much.
Then you can run along and log into your Novicehunter account. Cheers.
Theres not going to be a J/V...
CMG
CMG"We had 40p not so long ago, without a JV on board..
Just curious why you say we would only reach that price. "
Probably for the same reason that we fell to 12.95 (down 68%) in the last 9 months before bouncing....
Even with all the bid talk we're still sub 20p...