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Fort, i'm of the opinion the $50M is restricted to Cascabel
"The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to announce that SolGold has entered into a binding agreement with Osisko Gold Royalties Ltd ("Osisko") for a US$50 million royalty financing ("Royalty Financing") with reference to the Company's Cascabel copper-gold project in northern Ecuador"
You're right Smickster. A compromise would be fairest and I believe the same about cheap equity being the preferred finance route, hence why I was so worried about it.
Yes, we are reading between the lines, but would I be being unreasonable or illogical if I said I don't think there's been any conversations(at least of a hostile nature), because had there been, SolGold could have told the market that it was in discussions which would have sparked new interest in the stock and gave us a platform for raising money at a higher price if we needed it?
The opposite could also be true. I accept that.
I think there is a gap at 16.82 from 4th Nov
"Somebody must be buying them..."
Next he will claim its him.
So lets look at the SR in overview priorities
1. We have ENSA to sort out. We either raise $3bln and go to production or we seek partners or we seek a sale or we float ENSA on US markets like Rio did with Turquoise hill. Any other options out there?
2. We have a priority folio of exploration targets. We either raise capital to explore them. Use capital from ENSA sale or IPO to explore them or JV partner deals and reduce ownership by get free carry or zero Capex costs to PEA? Any other options?
3. We have another 50 licence blocks with roughly $7.5m required spend / Capex or relinquish them for minor fee. We've apparently be in discussions with various interested parties over 'packaging' these up for JV's or sale. Overall, the Capex commitment is around $400m.
4. Porvenir - PEA due soon and then what are the options? Raise funds, do deals/JV's with Valuestone, Lundin, Codelco and so on? What's next for Porvenir? PFS? DFS? Use funds from ENSA sale to take it to production??
There are a few other things to consider such as stream deals, loans, CB's and so on but that falls under point 1.
As mentioned before, I believe the Osisko $50m is not restricted to ENSA (or they would have said so) and that might have been the main reason for not using Franco or Boliden. $50m is a sizeable wedge when you consider that PFS2 is virtually complete, zero exploration is going on apart from rock chip samples stuff etc. So question is... what's the forward plan for Porvenir...? Monetise it / swap in / out deal with Sunstone/Lundin and do some combo drilling on warintza? Who knows. But we'll find out soon.
Ship we don’t agree on many things but you are spot on there ….. Not so long ago someone claimed to be the only person on the board to be 100% correct so far ….. it’s not arrogance it’s clearly an illness
Shipright that's a silly statement.
But you know what, please filter me, because you certainly don't read what I say.
Was meant to say
My opinion is our majors wanted cheap equity and were not prepared pay and make the Pi take the hit.
Obviously I'd want it for as cheap as possible.
So the obvious answer is to come to some compromise , no?
The question we still don't know if there had been any conversation and we are left to read between the lines.
My opinion is our majors wanted cheap equity and were not prepared and make Pi take the hit.
If I was invested in Bhp now I'd be pretty 9issed off that we haven't got another chunk of solg even if for a premium of current sp(especially if its as exciting as we believe).
Maybe that was never in the cards.
Loads of chunky deals going through today...
Somebody must be buying them...
Think we closed the gap at 17.1p
sorry...99,422
Testing support...
Bought another 100k at 17.30
You won't find me arguing with that Smickster.
What would your view be though if you held stock in a major miner on the look out for assets?
Of course someone can change their mind.
Quady just changes their mind to suit the wind direction. For someone who posts so (apparently) authoritatively to say "I have never said it was a certainty" when they have is simply dishonest.
Bozi,
Maybe our early investors should try to invest at a reasonable price instead or trying to back us into a corner and expect cheap shares?
Just saying.
In what world are people not allowed to change their views and opinions when facts and circumstances change over time?
Why do people feel they have to hold someone else to views they expressed in the past when facts or views were different?
Do those people still hold the same views they did when they were teenagers or in their 20s? It’s absurd…. Of course people can change their view, and should be allowed to do so without being accused of some sort of betrayal to their previous ideas.
Shipright because I don't add the phrase most likely outcome to every post that doesn't mean I haven't said it enough times over the years.
The sensible posters on here know that.
Try questioning the posters that believe a buyout is coming yet again why they have been wrong for the past nine years.
That's a more important question.
Addicknt I know you have tried to label me in such a way to suit your worldview but I have already changed my mind once.
When I invested in 2013 I believed Alpala would be proved up and sold.
It was in 2015 when NM said we are going to production I slowly changed my mind based on the evidence.
I have always said production from that point was the most likely outcome. Sure not on every post, but enough that people on here know my point of view.
My position has changed slightly since the CGP announcement.
I still believe that production is the most likely outcome but see two possible outcomes for 100% ownership of ENSA.
First this makes it a lot easier to raise funds to construct Alpala.
Second it makes it easier to JV or sell.
But on Solgolds terms not BHP'S or anyone else's.
Yep and there ultimate goal is a takeover
14 sept 18.08
Unequivocal going to production Quady
Q I respect that you are steadfast in your view but personally regardless of what the company says with so many invested wanting a liquidation of their investment somewhere north of current valuation I find it inconceivable that Cornerstone would agree to the merger unless there was going to be some upcoming event that would enable and facilitate that goal
Yes, I've noticed you've started hedging your bets...very sensible. On the other hand, I'm not very sensible and fully expect to be lambasted by the your fellow productionistas in the unlikely event that our team has got it wrong.
Addicknt that won't come from me.
Because I have always said production is the most likely outcome, I have never said it was a certainty.
Over the years I have been invested because I believe in the Solgold story.
If we are ever sold JV or anything else, then all I do is reassess the company I am now invested in.
Stackhigh
The rampers won’t like your post but there again they are way over leveraged and you are probably just investing……..huge difference
Redknight the biggest gambler on here…..it’s pretty sad when you have to resort to ramping, in your seventies, to make a crust……especially when you have been as good as Elon musk, bill gates, Jeff bezos etc at investing….albeit in his own little egotistical world he lives in