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RK imagine Guyana acquirer Zinjin comes in and acquires the stake from CGP at 20p. After so many years and less risk. Would be a great move.
Colonel...can I repeat...the stated cash burn was $3m per month not 5...
And who can blame Guyana for selling out at 26p...it was c6% and they got a 30% premium...
Let's hope CGP does the same (21p)...or better...
Fixed :)
I picked a few up earlier based on the chart - GLA
https://twitter.com/bonker_99/status/1585221465934217217?s=20&t=1n_MjcZFuHN7rDxE4Q13qw
Oh dear Seanhunter saying management are saying they are taking this to production and then saying all the people taking this to production are wrong.
Oh but the irony.
Seanhunter,
You said: 55
" there will be many of the employees helping them, carrying equipment, cooking etc etc."
And what will they be cooking? Sausages? Perhaps a nice stew?
And you're accusing the REST OF US of posting middle earth theories whilst painting your own little picture in your mind .... LOL.
Not at all, all these geologists need equipment and food, camping equipment etc etc, so yes it will take many employees to help up the terrain they have to conquered
So think before you post, not flat roads and flat land to walk on is there, wake up you and use your imagination how they will accomplish this feat
Like talking to a kid
Bozi,
Thanks for your reply, you say : I say this because for a long long time I've been in your corner. However, I've now got to admit that SolGold have taken their time of things to get to this stage (not really sure why the granular detail of geologists and people cooking is relevant).
That part baffles me, of course it’s relevant, want to sell something off you need some info which allows people to say, I might take a chance on that, it brings in money
Atb
getting bored with that colour !!!
" there will be many of the employees helping them, carrying equipment, cooking etc etc."
And what will they be cooking? Sausages? Perhaps a nice stew?
And you're accusing the REST OF US of posting middle earth theories whilst painting your own little picture in your mind .... LOL.
Mate, we have a right to moan as investors when the Board is not performing.
Frankly for me, this nonsense about "going into production" has poisoned the wells this year and the threat of them actually attempting it has made us uninvestable in many eyes because it is such a ludicrous and disasterous stated aim when we clearly have no money to even start. We have been offering the world nothing more than a bottomless money pit. OK, it was probably just a tactic, but there are enough idiots out there taking them at their word, so until they publicly ditch this suicidal ambition I don't blame potential investors for sitting on there hands.
I expect it will all be sorted out soon, and hopefully it won't bother you too much if us moaners are actually celebrating.
Agree, can't be this dull for much longer! Even SOLG can't sustain the 'dullness' forever.
BnC... I think the new guys were allowed onto the board early doors (pre merger completion) as it might look odd if after a few days of the Merger deal being done they announce the results of the strategic review lol!
I think we all know the results of that review as it happened months ago. But we'll get to hear when they are ready. In meantime, new directors on board will no doubt ensure that some other directors know their place or worth lol!
Lets get it done boys... bring home the bacon.
Mathers - the majority of commentators have been keen on a takeover since the scale of Alpala became known in 2018.
Nothing will change that fact.
People can be concerned for any number of reasons. Your Warren Irwin's want their cash out to reinvest. He clearly thinks there's much better opps than SolGold. The same applies to others. Some investors just want to trade and will take any volatility to the upside to necessitate that.
I say this because for a long long time I've been in your corner. However, I've now got to admit that SolGold have taken their time of things to get to this stage (not really sure why the granular detail of geologists and people cooking is relevant). As such I understand why some are concerned about how long it will take to achieve further milestones and why some believe production won't ever happen. The timeline doesn't appear to be getting any closer and that also is a concern to investors.
I think it's a case of skipping past the "middle earth theories" you refer to. People are imaginative and 99% of the time they'll be wrong but I suppose I'd rather that than just telling myself to be patient every day.
So Solgold have 60 geologists out doing ground work to prove up better info on their tenements, there will be many of the employees helping them, carrying equipment, cooking etc etc.
Meanwhile Solgold have got CGP onboard to make the company solid as one, that is just a fraction of what’s going on, why keep crucifying the company when we know hardly anything that’s going on, but going on it is.
I’m just waiting for the next RNS with real info, reading some of these posts makes you depressed, to many silly theories imo of course
Why not just go by released factual info and not some middle earth dreamed up postering
Nice to have opinions but some do go off tangent a quite bit
For what it’s worth and my opinion, it will come good if you can be a bit more patient.
Atb
I think even a raise at 15p would help at this stage as it sorts out the cash situation. It's just a box we need to tick, and hopefully the last dilution we will ever see here.
Puts the lunacy of "going into production" into perspective - we would never have been able to finance even the groundwork.
Realistically, we are all going to be disappointed with what the 6.7% goes for.... gone are the days of placements at 45p, 35p, or even 25p to be honest
Rest of market has bounced significantly over the last couple of weeks. DOW is up over 10%. Stocks like Wood Group and PFC which are more inflation sensitive due to past contract deals, all trading off lows with Wood bouncing 40% on no news. Lots of beaten up stocks recovering back to the late summer levels pre the markets end of Q3 dump.
SOLG firmly pinned by the controlling hand. It's been there since Blackrock dropped their TR1 into the market on Oct 6th. CGP merger news followed on October 7th.
So on basis of market bouncing, if SOLG do a placing for that 6.7% at 17p, that's actually more like 15p. If SOLG SP had moved with market and general sentiment then the stock would be nearer 19p+ now.
The 6.7% needs to be placed with an entity that has credentials imho. Otherwise, if it goes to HNWI's, Maxit or MAC types, then that's going to look very smelly and ugly. I've seen it many times before whereby the 'money men' behind the scenes get greedy and decide to feather the nest one last time before the big payday. That's never a good look and gets many backs up... not wise before an AGM.
We must be down to our last $15m now. About 3 months cash left on a $5m monthly burn basis which would be a big cost efficient delivery by SOLG as in past they've done $7m per month with ease and zero exploration to speak of.
$30m raised from the 6.7% stake would buy around 6 months imho. But lets be clear here, $30m for 6.7% is poor ... very poor. If placed with insiders (of course not official insiders) then it will look like a nice xmas pressie won't it?
I'm not keen on Scott Caldwell being back in the mix after he decided to sell his lot in 2018 to BHP for 26p. That's not exactly a loyal or committed shareholder is it?? And he's back into the fray post that event?? Lets hope he doesn't get given 6.7% back at 17p!
OrthernCopper not all trades have fees.
Pity! I was hoping you were bribing someone on the inside.
From a tweet something like
“Many months in the making”
Will try and find
DBW, that's intriguing. Dare I ask how you gleaned that snippet?
From what I gather Add the merger took most of this year to get sorted …. I’m fairly sure he would not have been able to buy whilst in possession of information not available to others
But I share your frustration
I totally agree DBW...its a disgrace...
I know there are closed periods but surely they apply to the awarding of options as well...?
Who executes an ordinary trade for 124 shares? any fees involved make it an absurd choice.. Volume is awful even by Solgolds standards..
If we exclude people “on the inside" ..Even the people here, that shout its about to be bought for multiples from here, any day now, are not willing to buy any more shares at 15p. the proof is in the volume. And there are lots of small to medium sized commodity focused investment companies that are also seemingly not interested... its bizarre for such a cert..
I had hoped we could see circa 60p but I am doubting we will even get close to that..
DBW, I'm don't buy that. There have been plenty of opportunities to acquire some shares during the last financial year.
The other thing that annoys me is the choice of date for the AGM.
I have much cherished Christmas lunch in London with some of my oldest mates on the 22nd. How dare they not consult me before setting the date!
Add …. I’m fairly sure no one “on the inside “ will be able to buy any shares between now and the AGM .
The merger will have been in making for most of the year which I’m guessing would have precluded any buying for most of the year. Having said that it’s always better to have a CEO with serious skin in the game
Earlier on I mentioned DC's ongoing failure to buy any shares. For a while I assumed it must be because he didn't have any proper cash hanging around, but having trousered $1.2m last year, that's no longer the case.
Frankly, this annoys me. In this day and age it's expected that directors, particularly CEOs, invest some of their own money - putting money where their mouth is. His refusal to do so whilst earning this amount of money is completely unacceptable.
At least I won't have to agonise as to which way to vote with regard to the remuneration report. It'll be a straightforward NO!