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Red nearly every sell bought into today ,this will continue to rise pending more news imho we not had any drill updates for nearly 4 months now
351,862 at 18.20 up 8% again on the day...
Excellent
Of course they have to still keep working towards production, but they're only soending $3 million a month, so we've just raised 17 months worth plus probably another 8 months that we still had. And thats without the proceeds of the CGP stake in SOLG which would probably go for at least $40 million...
Happy days...
But frankly I would rather that we were bought for 125p and I can invest the proceeds in the welter of beaten down high yield UK stocks...
What are you waffling on about now Fort?
Nobody has ever doubted the asset.
Essence of the story folks - don't harbour any reservations about how your investment is progressing as Fortissimo will label you a bed wetter.
Laughable.
Don't be naive DartFrog.
80% of the shares are NOT held by PIs...
If anyone is determined to buy us they will have to pay the right price because there will be ,ore than one suitor and the Bpard won't let this go for a song.
Mather and his interests own almost 300 million shares. In the past he has made it clear that Solgold will not be sold for less than the NPV of Alpala. DC says that is a minimum of 78p.
Given the merger, the people concerned (especially Sangha, Irwin and Mather) I am certain this is being cleverly engineered towards a sale. Sangha owns Maxit; Sandeep Singh, chief of Okritis is ex Maxit. Maxit are advisors to both companies.
I believe it will go like this now that we have no cash worries until DFS is complete (once the CGP 6.7% stake is sold).
Sale of the 6.7% stake to the highest bidder, at a price which will now be significantly higher before today's RNS, probably at least 25p.
That will add momentum to today's move. Remember we were 35p less than 5 months ago and we were 28p in July when the copper price was 15% lower than it is now.
There is then Porvenir and Alpala PFS Addendum news to come and I see no reason why we shouldn't be back at 35p before Christmas.
There are people who have been on here longer than me and I'm at least 8 years.
This is at least the second best new Tier 1 copper asset in the world, even without the huge amount of gold.
The idea that anyone can steal it for a lowball price is preposterous, especially as BHP and NCM's holdings are about to fall to just over 10%.
Noront was 23c before the bidding war between BHP and Wyloo started. BHP lost out and Wyloo paid 110 cents.
The only thing that can stop this going for probably over 100p is a crash in markets in general.
Thats why the Board is getting on with it.
Addicknt please show me anything than says plan A has been superseded by the review.
Yes Quad, you keep believing it chump.
Sorry, champ...
Bozi, that's not true. It really is as simple as this.... you wet yourself over financing and spread doom and gloom across the bb for weeks on end. I countered that on a regular basis saying that royalty deal was an option and equity raise not required. I also highlighted that the lower the sp went the less likely an equity issue. I was right. It's not about being an uber bull or bear. It's about being able to understand strengths and weaknesses with SOLG and whilst some flap around like yourself, there are others out there (like myself) that see things very differently to you. We've been proven right and I believe we will continue to be proven right. My mantra has always been that SOLG is all about the asset. And the asset is world class and desired by every super major out there and streamer. Make no doubt about that.
I'll leave it there as to be honest, can't really be bothered with you anymore.
Add …. You’re banging your head against a brick wall ….. don’t bother ….. these guys obviously know more than Mather , Irwin & Sangha lol
Q, as I said this morning, the Plan A, Plan B thing has been superseded by the Review.
Sorry addicknt Solgold has said production is not only the stated plan but also plan A.
It remains so until Solgold say otherwise.
Addicknt
It may be one of the options, but they are still working towards production. If that was to change, we stop adding value to the company and therefore our shareholdings.
Frog
Dart, production is no longer the stated plan - it's simply one option currently being reviewed. Life has moved on.
Fort- I said it was a possibility in light of the assumption that further streams were off the table. What was I supposed to think? It was only you who bandied around your "£100m for 1%" deals like SOLG were going to take one off everyone.
I said my outlook would change when funding has been been sorted, and with the last 2 key announcements (today and the merger) it has.
The difference between me and you is I'm capable of seeing headwinds for what they are. You just want to be obnoxious and obtuse towards anyone who isn't banging the uber bullish drum 24/7.
People, please, please, please think what you are doing. If you put the "For Sale" notices up now, we sell Solgold cheap!! We have been sitting on our piles of Solgold shares for a long time now, some longer than others. We should all be saying Alpala is going to production and be supporting the Solgold board with that which is their stated plan. Now we are funded, at least we can carry on towards that goal, If we are taken out on the way at least it should be for a decent price. If we stop building the mine and exploring we are not adding value to our share holdings, therefore we are basically saying "We are having a closing down sale". Is that really want people want? Do we really want to Solgold's assets for next to nothing? Let's build the mine, and at some of our other sites, and if someone wants us let them pay a decent amount for us! The share price will grow and if people want to leave on the way that is up to them, but they should get a decent price. Remember you nay sayers, the share price has been to 40p several times over the years so if you really wanted to take your profit you should have done so then!
Frog
Sean - unlike yourself, from what I can tell, my primary focus is not to extrsct the largest profit in the quickest timeframe. I'm not a trader.
There are a couple of different options, but a sale is the one that really appeals to you. That's fine. All I'm saying is that you should be wary of calling for it now.
Let management get the updated reports out, maybe put together a targeted regional campaign for 2023 and gradually build the competitive tension back up.
Because one thing is for sure, pushing for this sold in Q1 23 is going to lead to a sub optimal resolution for us all.
Bozi,
You said a deeply dilutive equity raise was coming not to mention a bucket load of doom and gloom.
You got it wrong. Are you deluded or something? You are now claiming you called it right?
We are not running out of time... we are fully funded for what looks like 8 months+.
Get a grip you've been wetting yourself for the last 3 months for no reason at all.
Bozi where has patience got us? Could have been out the door in 2017 at 46p.
We need to sell, we have no other option .
When we burn through that 50 million, what then?
The market isn't interested in us bumbling along either into production or just as we are, it doesn't cut it anymore which is why 16p is already calling again.
So yes, I want a sale. Time is not on our side, and a rising copper price won't make a blind bit of difference. I'm a shareholder that wants a return now, not a 20 year journey into dreamland.
I'm sure you're now getting the point Fortissimo.
I called for initial funding earlier than we got it and I advised caution over another royalty deal in light of Darryl's comments.
A lot has obviously changed in SOLG towers in recent weeks and the merger has probably been the catalyst for much of it.
It is still important we start 2023 with a renewed energy and higher standard of management. We cannot afford another 2022 given the lie of the land.
That is my opinion, as negative as you wish to call it.
Fort - yes it sort of does.
On one hand you've got Irwin imploring SOLG management on. You've got PIs like SeanHunter and others baying for a sale at the soonest possible moment.
So yes, yes it does matter. We're running out of time.
Patience isn't an issue for me. If I had my way we'd publish the PFS addendum and the PEA for Porvenir. We'd take the drill bit over to Helipuerto with a few quid left over from the CGP placing, and we wouldn't entertain any strategic moves for 6-12 months, minimum.
But we don't seem to be. The share price is sub 20p and SOLG investors are crying "sale, sale, sell it now". It would be an awful result given when we expect the demand in copper to truly materialise.
I'm not saying SOLG should raise £3bn and go it alone, I just think the next 12 months is the time to hold em and not fold em. We'll see on that score.
Bozi,
Give it a chance. Does it matter whether it takes 2 days or 30 days to get back to 30p+? I'd prefer the latter as imagine we need to drop a few newbies off at the poo, before flushing a few more out at 22's.
You were told funding was not a problem and still chose to see all the negatives. Now SOLG have proven that funding was never an issue, you're frustrated that the sp hasn't done cartwheels today?
The sp was at 21p/22p after the CGP merger news RNS. We then slipped back after blackrock selling and focus resumed on funding.
Just be patient. What's not to like now? No funding fears haunting us and PFS2 and Porvenir PEA to come along with strategic review results.
SOLG could be 25p on Friday. Or 18p. Does it matter? Not really. What matters is where we are after PFS2, Porvenir PEA and strategic review news. If we are still sub 20p then I will be very surprised. But US markets are being artificially raised purely for mid terms. Happens every time. So market backdrop could still play a factor as post mid terms, US markets might take a turn south.
Do as you please bubble doesn't bother me one iota, "keep dancing" a they say on strictly ;))
Even after a code 1 trade this morning !!:):)
Novice am behaving lol!!:):)
Quite right Jezzoo it's not a retort it's fact.
People can read your posts, they are always stirring.