We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I could have written those words myself. 5 wasted years. More shares printed but no extra value for the poor bloody infantry.
I don't care whose feelings get hurt now at Solg. I want an exit at 50p+ and I want it ASAP.
Glad I'm not alone.
So far we've had 1.66 million shares traded after hours WITHOUT the 375k UT...
"It is what it is" as they... no point in looking back and venting off. It's time to look forward with optimism. Monetisation is on the way and it's what many of us called some months ago.
The Strategic Review is going to be an interesting one as apart from ticking the governance box, most know it's going to be about returning value to shareholders. What's going to be fascinating is how that pans out. Will SOLG still be listed or sold completely. Will some assets/regionals be packaged up and sold off to Mather INC and a few others before the auction process?? I just get the feeling that Mather wants some of those blocks to try and rinse and repeat and any buyer of SOLG will want the same but won't pay a dollar for them. At the moment my guess is that there are about 45 licences in SOLG's folio that would have near zero attributed to them if the company was SOLG tomorrow. So that's got to be resolved as that's just a waste of resource and a freebie to any buyer. I like the idea of SOLG selling off ENSA, return funds to shareholders and then go after RIO or other blocks and try and repeat but this time with firm knowledge that they will be selling after MRE2 phase or PEA. They can't repeat the 6 or 7 years+ ENSA style progress or the market will send them a blunt message. Far better to communicate that aggressive exploration phases that are successful will be monetised or JV'd within 2 years etc.
Anyway for that blueprint to work and the market to get excited, SOLG need to prove they can sell one of the cabs off the rank first. They need to prove the model works. As yet... that's not happened. But it's about to!
I’ve been chastising the board for the last few years… half of my posts are practically Sanghas quote . “We have wasted five years. Since 2017, our share count has increased 50% and our share price has fallen 50%”
Anyway.. finally we have some people who want to get things monetised… and quickly!! And I’m grateful for them.
And I agree.. China cranking up their economy will cause the metal prices to bite, as global inventory warehouses would be empty had it not been for their covid policy madness
Orthern I think we need to fully support the board at the AGM…. The biggest piece of deadwood now removed
Ortherncopper, it's easy to look back and use some hindsight now. I don't think it's fair or realistic to apply that view. I've ben invested here for 3 years+ (since just before covid days) and the story was a good one. The delays to PFS were imho the beginning of the cracks appearing and BHP were suddenly ready to just sit it out. IMHO... Mather cast out enough bait for BHP to bite but they didn't. Then this years market turmoil and inflation bubble not to mention covid all mixed in has made the last 2 years tough on most. All that's ha da factor in progress. In the end, BHP and NCM had us cornered heading into the AGM and SOLG needed to pull a rabbit out of the hat. Instead, what we actually got was a 'Warren'!
Humour aside, now is just as good a time to sell or JV Cascabel as in 2020 or 2021. We needed the 'take it to production' plan A as without it, SOLG looked directionless. It also was designed to draw BHP out but didn't work. As CGP said... the bluff didn't work so now we'll just opening seek a partner or asset sale etc.
Anyway, I guess I'm saying it's not really of any use to look back with hindsight and chastise.
Looking forwards, the next 6 months should see inflation peak and rate cuts slow into Spring 23. China coming out of lockdowns matters more for mining/metals than anything else. But I guess what I am saying is that the next 6 month are prime time for M&A as in 12 months time everything mining related likely to be much more expensive.
Kingslug posted on friday:
"Things will happen quickly now, I am going to let the jug eared pillok and his Chinese side kick get their economic carnage out of the way next Thursday then seek to open some spreads long. News is going to drop thick and fast now"
seanhunter posted:
"Big big news coming. Fasten your seat belts!"
And another poster asked a very pertinent question:
"I wouldnt upset a possible buyer of my company if i didnt have at least one other offer on the table "
Which is a very astute question.
Sangha did an interview. He had time to consider and collect his thoughts...he said what he said, which surely implies that he is VERY confident that something big is going to happen that BHP and NCM can do nothing about...
There was always an assumption on this board that the BOD knew what they were doing.
The cornerstone boys always had the opposite view, even of Mather I'm afraid.
I do question what our previous, long existing board members have been doing for years, and what it says about Twigger et al.. It seems like it has taken, previously considered outsiders, people who were treated almost with contempt before the merger news, to come in and get a grip of our mess..
I’d happily get rid of some of the old wood and bring in some more new.. at the AGM
Interesting after hours dealing...
14.11.22 17:18:52 19.24 GBX 9,483 1,824.62 Off-Book TNCP ECHO XOFF
14.11.22 17:12:52 19.04 GBX 15,345 2,921.84 Off-Book TNCP ECHO XOFF
14.11.22 17:12:03 19.08 GBX 4,000 763.24 Off-Book TNCP ECHO XOFF
14.11.22 17:06:41 19.24 GBX 383,000 73,689.20 Off-Book P ECHO XOFF
14.11.22 16:58:37 19.15 GBX 1,828 350.10 Off-Book PRIC P XLON XLON
14.11.22 16:58:27 19.15 GBX 20,198 3,868.32 Off-Book PRIC P XLON XLON
14.11.22 16:58:15 19.15 GBX 19,993 3,829.06 Off-Book PRIC P XLON XLON
14.11.22 16:58:04 19.15 GBX 125,981 24,127.88 Off-Book PRIC P XLON XLON
14.11.22 16:35:45 19.00 GBX 1,000,000 190,000.00 Off-Book P XLON XLON
14.11.22 16:35:12 19.24 GBX 375,149 72,178.67 UT P
Sorry...$0.31 CDN
Thats what the CGP price should have been post the merger RNS, in equivalence terms, but the current SP values them at $4.44CDN...
So maybe they are converging as the merger reaches culmination...?
SOLG 40.31 or 19.84 equivalent...
Something tells me its all about to kick off...
Mitsui J/V offer anyone...?
Interesting, a good friend works for a publicly listed shipbroker and he told me at a recent AGM they passed a slightly contentious resolution using the shares held in treasury. Perhaps he was mistaken.
Thanks both.
Correct Lunch...I was wrong...Treasury stock, or treasury shares, are shares a company owns. They do not carry voting power
Mitsui already been pictured with smiles and openly saying they are excited to be investing in Cascabel. Whether they end up with a slice is anyones guess but stick the interested parties in a ring and let them slug it out.
Auction process on ENSA best way to go.
Henry... go xxck yourself!
Nice fortissimo
Back over 4 bucks
Have on good authority blackrock bought the million shares don't know what there up to know as they are villans
Share price now trading back at late MAY 22 levels. SOLG were trading at 35p a share for same time period. At 17.5p, we would be half that price. 19.24p heading in right direction but we are lagging and have miles to go before we get to a decent alignment with CGP and peers.
Interestingly, we had a 1m block trade after hours a couple weeks back and that seemed to be the precursor to the L2 book changing the very next day (eg no one hanging on the bid side with 200k lumps holding us down). Today we have another 1m round number trade. I wonder whether that will assist with pushing back toward 27/28p levels which is the lowest price we should be around now and that factors in a 20% discount for the alignment to CGP (as mentioned above).
I can see the threat to JV as a worm on a hook
Is this the significant comment... "We are going to maximise shareholder value by bringing in an appropriate partner to do it. "
And is he bluffing...inciting BHP to "put up or shut up" before they arew diluted to 10%...
Either way good news Orthern
Another bluff ….. he’s calling them out I reckon
Cheers DBW!
‘ We have wasted five years. Since 2017, our share count has increased 50% and our share price has fallen 50%’
THIS!!!!!!!!!
Finally it seems the powers that be seem to realise what us Private investors have been screaming for years…. And now they are putting their previous disagreements to one side to make some progress..
JV it is then
I dunno, I'm still waiting for the French translation, wink.
Music to my freakin ears. Bob spits fire.