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I can answer that Zoros. It would be none of them.
Plus they would ridicule me for getting it right.
I believe we will get a fund raise in the next few weeks and we won't have any issues.
Exactly zoros...
You couldn't make it up.
:/
IF Quady is right and Solg DIDN'T formally go to market for a cash/fund/equity raise, how many posters (who ridiculed him) would now apologise?
Z
Have finger on buy button but how low will it go.... Maybe i should wait a couple of days
Well I did say before the pfs lands I was exiting at 39p but was laughed off the board.
Might have a punt
•¿•
It's a Effed up market when solg with its world leading deposits and is something the world will be crying out for in years time is currently over 15% down on the week and CINE which is practically broke and on the brink of failure has gone up over 130% WTD...
Our time will come , don't be influenced by the 10 a minute passive negative posters.
Have a good week all
more like 15P
Yikes, 17p deffo OTW...
Never did I think that I would have another opportunity to buy more at these prices!!! ;))
Look at the last 5 year peaks & troughs, nothing to see or hear...
2.5%...
Copper down 2.5p, miners getting hammered...
Next stop...12p :(
Good afternoon rcgl2, as you say we can launch a cashbox offer, and nobody can do anything about it. It's just about pitching it right.
I would prefer if NCM and BHP didn't take part. I am pretty sure Valuestone and others would.
I however wonder if we might get another offtake deal.
My preference would be for a placing higher than we currently are. It's not impossible.
rcgl, very good post.
JG1964 this is a share with very little exposure. We trade very small volumes.
We cannot even get to ten million shares a day every day, as a minimum.
So with little interest we slowly drift until we get some news, then its up a bit.
I hope we have a base of around 20p ( I know we are lower at the moment ).
But we need to attribute value by increasing the NPV.
This I feel with the enhanced PFS for Alpala and the PEA for Porvenir may help the situation.
So it's a long journey and patience required.
When I bought in a few months later my investment more than halved to under 2p a share. Those days are long gone.
Lot's of news to come, but it takes time.
This time next year I feel we will have a clearer path, as we will the year after.
Well I’ve put another £5k on this horse all in at 19.57p Rather hoping serious corporate moves begins in the next couple of months .. which doesn’t rely on the board doing more than mounting an only mildly effective defence. I think they’re up for that challenge at least.
If you take the penultimate sentence at face value, it implies what SM just said that BHP/NCM declined to participate in a pre-emptive placing and then vetoed a non pre-emptive cashbox raise. However, if that were the case it raises some another question, namely are there enough other investors willing to invest the amounts that Solg needed, or are Solg actually dependent on BHP/NCM to contribute their 26% of any funding round in order to secure enough funds?
If they did try a pre-emptive placing, provided they offered the opportunity to BHP/NCM to invest, there's no reason other investors can't step in and take up those allocations if BHP/NCM don't want them. And if BHP/NCM had just outright declined to invest and Solg then tried to get a cash-box placing done, it suggests that there were enough commitments from other investors to raise the amount that Solg wanted... but it was vetoed by existing holders.
Which is to say, BHP/NCM can't have it both ways. They can't insist on an equity raise that includes them and refuse to participate, and then block an equity raise that doesn't include them.
So I wonder if the writer of the article has slightly misreported the events, and the penultimate sentence should read something like "BHP and Newcrest were apparently unwilling to invest again, BECAUSE a second raising that would circumvent pre-emption rights was ultimately seen by shareholders as not appropriate".
Also, in my view Solg didn't "test the market" as some sort of fact finding exercise. They "tested the market" with a view to raising funds via whatever method they "tested". Therefore there is no material distinction between 1) Solg asked investors if they would support a cashbox placing that they intended to launch, were told no and therefore didn't proceed with the placing and 2) Sold launched a cashbox placing (irrespective of whether shareholders supported it or not) and then failed to secure sufficient commitments in order to close the placing. The outcome is the same in both scenarios - Solg need funds, wanted to raise funds, and have not raised any funds.
And anyway, even if this was not a failed fund raise but a mere "discussion" with Shareholders, a "discussion" that results in the resignation of your funding executive and your new CFO at the same time is not a success, it's probably worse than just launching a placing that is undersubscribed due to poor market sentiment.
Quady - why has the share price fallen over 50% in a few months - I guess the market has full faith in our mgmt - the board should allow shareholders to question them - at the last AGM that opportunity didn't take place - where are the Regional partners ? It's been over a year maybe 2
Quady you have more faith in the mgmt than I do - to lose one FD is careless, to lose 2 in such a short time under the same CEO who has been in place for less than a year speaks volumes - even McDonald's wouldn't employ these clowns - of course the company are going to say we are going to production - but who will be the owner when it happens - how will they raise the capex when they seem to have failed in a "small" fund raise - everyone says they have the expertise in house or with 3rd parties - I am sure Rio said the same with the Mongolia mine and what happened there
They were probably offered a good chunk at a much higher sp than where we are now but said no thanks we will wait and get even more at a now much lower sp !
SM, ultimately they cannot prevent us from raising cash, but they can make life uncomfortable.
My fear is that if that article is correct, existing and potential new shareholders will be put off by the fact that BHP and NCM have said no.
What we would all love to know is what, if anything, BHP have suggested as an alternative to the failed fund raise structure.
Mathersfinger
I'm sure some circus must be looking for you..
The clowns department!!.
Anyone who believes every word the company says is naive in the extreme. I should add this is true for all companies.
A board of directors will ALWAYS attempt to frame every snippet in as positive a light as possible. PR folk exist for a reason...unfortunately.
addicknt, agree. My inference is that we tried to do a standard equity raise and BHP/NCM said we don't want to put in any more cash. SOLG then went down the cashbox route and BHP/NCM said you're not doing that either.
Let's just hope that our major shareholders are sitting around the table and hammering out a deal to put us all out of our misery and deliver a return of sorts for shareholders.