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Surely the answer to this is to recognise that there are some similarities - financing, mine complexity, but there are also many dissimilarities. Trying to compare one with the other is a futile waste of time. In my opinion, if you really are intent upon drawing comparisons, BCN is a closer analogy - albeit their CEO is utterly useless.
Thank you Sunnybne for joining the board and giving us your insight into NM et al. I don't suppose I would ever count him to be in my circle of friends that's if I were ever to meet him, unlikely unless he were to hold a shareholder bash in London and he were to come over to it! However, I do trust what he says and does with respect to Solgold and the reason for that is that he has a large proportion of his wealth tied up in the company so in effect he is one of us, the small shareholders, except that he has more than most of us so that if it were to go pearshaped he would lose more than most of us. Therefore I have faith in the guy to take us to production and give us full value. On another point, Cornerstone keep saying that they have 22.5% of Alpala. They do not. They have 15% of ENSA which owns Alpala plus 7.5% of Solgold which has 85% of ENSA and a lot of other valuable assets mainly scattered around Ecuador although most of them have not been fully valued as yet. Anyway, I am here for the duration but it would be nice to have a little upward movement of the share price as I am currently hovering around breakeven at present. Have good day.
Good morning Colonel, I think what really worries Goldfingerer, is he worries about Solgold as a gold and copper company, and SXX is a fertilizer company. He obviously knows nothing about Gold and Copper, but by reading his posts, it's very easy to see that he is an expert in Fertilizer. All the best.
GF, The key difference between SOLG and SXX is 'gold, silver and Copper'. These are the worlds most sought after metals at the moment and likely to be that way for some time.
SXX was all about fertisliser or Potash. It's a big market, I don't deny that. But it's no where near the copper/gold/silver market.
So basically, it's alot easier getting funding for copper/gold projects right now compared to the days of potash in North Yorkshire.
Potash is not a currency. Offtake deals can be done but you won't get the likes of Franco getting involved. This is the key difference here. It's about the 'product' and how that product attracts financiers around the world in their droves.
As a layman analogy for you. Do you think you would get a decent finance package sorted on a potato field or a Gold field?
It's all about the attractive assets and to be honest SXX's asset was average at best and the world was and is not struggling on the potash front.
Good morning smickster, again I think you are correct, I really think ESG is going to be the next rise in future investments, not because they are nice and woolly, but because countries are going to demand it, and those that structure their businesses in this way, will gain a market advantage, so always looking at new tech, that is going to make the difference. I would never invest at the beginning, but wait until I get a clearer picture. All the best.
Good morning smickster, why I agree with a lot of what you say. I am an ethical investor. Spent many years in oil and gas, not the industry, but buying and selling stocks and shares. This is my first mining stock, and looked at many others, some were solid, and I would have got a fair return. This was risky, and I wanted a better return. But at all times I invest on an ethical basis. This means, how are the employees treated, what are the cooperate values, ETC. I would argue that it is unethical not to drill for gas and oil, or mine commodities, as that would lead to world wide poverty, violence and wars. All the best.
There is no "symmetry" with SXX whatsoever. I thought their total CAPEX was more than $4b - however, even that is nearly double CAPEX of $2.7 (and likely to reduce with PFS design improvements). Then there's the huge difference in commodities (and associated sector trends), already mentioned and shouldn't really need mentioning tbh - apples and pears. And finally, and certainly not least, SOLG is not a one trick pony. It is quite likely that there are at least 2 or 3 more Alpalas in their concessions. There may even be an Escondida...
By the way, I wouldn't worry about the price. It's basically false. As soon as a few buys come in, it will recover. Just trying to pick up free shares, unless someone offloading, which I think is highly unlikely.
It's ironic really as in the old days (and these current days) AIM stocks in particular were well known for diluting the little guy and instead looking out for the big II's. Endless bonus awards for BoD's based on silly strike prices based on poor performance or actually no performance relevance at all... just filling their pockets becasue they can and have no regard for retail investors. In most cases the retail investor is a pain to them, always pestering them and always giving them a hard time when things are not going well.
yet here we are with probably a near perfect example of a management team doing everything they can to serve all shareholders, small and large. NM really is the Robin Hood of mining industry. He's a top bloke and he knows what he's sitting on. He wants top dollar for it and he wants the retail investor to benefit and not be robbed of it by the big boys. NCM and CGP are money grabbing old school and they are out for themselves and stuff everyone else. NCM pride themselves on screwing the small company or the vulnerable. They hate having to pay a fair price because usally they can force a company into a corner and get a cheap price. Not with NM. Not with SOLG. NM is exactly what shareholders and other stocks out their need. All stocks should have a talisman that defends his business and does not play to the II's and fund managers demands. The city is really fed up at the moment because Covid has brought in loads and loads of retail investors some new and some with more time on their hands. It's causing the city boys a real headache as they struggle to move prices like they used to. Manipulation is no longer that easy. Their algo's no longer that great. The force of the little guy/gal is being felt and the city don't like it. Long time coming too!
Morning all. Just to say that I met NM about 21 months ago at Mines and Money and had about 15mins with him and the Chairman. Cant say that I particularly warmed to the bloke. I thought he was rude, offhand, dismissive and really bristled when I challenged some of his answers. I put that down to either jetlag, the desire to be with someone (anyone) else, or just the general fact that he didnt enjoy these sort of meetings. The chairman on the other hand was very good in the meeting. Now I dont need to like the management that I invest in, but I do need to trust them. He seemed well liked by his subordinates and they werent intimidated by him. but I wouldnt be surprised if he didnt bully those who didnt toe (his) party line. You are either full on in with him or you are out. On balance I decided that as he had a vision, was very certain in his views, really knew his subject, was well respected by his peers, I would stick with him. The jury is still out as to whether that was a wise decision, but I wouldnt bother trying to meet him again. I am not sure I trust the bloke either, and that is a big issue for me. Just my opinion though. I am sure he is loved by many.
I should add, and I've said it before, I'd rather NM was in the chair than the folk from CGP and I also believe he was right to raise the recent funds in the way he did. I most certainly don't want BHP to get this 'on the cheap' and NM is right to prevent them from so doing. If they want it, they need to pay fair value. Smickster, Citi, or someone similar, are needed for regulatory reasons (if a bid is forthcoming) and they are better equipped to deal with any approaches than are are other advisors. As an aside, I started my career as a graduate trainee at Citi (it was called Citibank in those days). It was not a great experience for me and could not stand working for a bunch of d**k waving Yanks. I only lasted a year or so.