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My next buy will be @ 13p should it arrive..
Going sub 14p again I reckon
Very simple, as I've always stated, solg have a history of over promising and under delivering, coupled with the non stop rampant posting, and the constant attacks I came under, it was more than enough to convince me to sell out pre pfs and watch the decline.
Even Ghandi as company secretary must have been taken aback by the unrest
Building back up i see ........
Poor Novice.
Or the 55p by Friday
What happened to the "strongbuy" kid, who posted strong buy on every post from 39p down?
You couldn't make it up...
Fort, why would I expect the company to go into administration today ? we still have money in the bank. We're three months away from that awful prospect.
When you say you flagged it weeks ago, what did you actually say? At that stage we did not know if the company was going to be able to raise more cash (I'm talking about after the aborted attempt), so no one would have known the nature of the Going Concern statement.
Today's announcement was not standard for this section of the accounts, but to repeat myself, the fact we avoided a qualification is significant and vitally important.
addicknt, I flagged the incoming standard accounts 'going concern' statement weeks ago for you. It wasn't a surprise to me. It seems like a surprise to you? We're you expecting them to go into admin today??
I suspect Darryl's little snap shot of analysts and investors at the Cascabel outcrop was a softener for the more intelligent out there who would see it as confirmation that funding activity/reccy's etc are going on.
Markets are ugly at the moment and SP would be sub 15p anyway today. Sub 13p was likely culmination of stop losses and or some 'going concern' bedwetters.
AGM in under 9 weeks (poss 10 if they kick it back). If they want to save their jobs, they will need to deliver the following:
1. PFS2 (at least $400m uplift, but will they need to adjust copper pricing/inflation costs too?)
2. Porvenir PEA
3. Funding package / strategic partner deal which sees us through 12 months minimum - 18months more ideal.
4. Exploration plans/ drill dates and so on
If the above is less than convincing (eg they need to blow the doors off) then heads are going to roll. I can't see Norges or Blackrock voting for Darryl and co if it's going to look like another year of blowing $70m on virtually next to nothing.
They've drained almost $178m since last April and whilst I like Tandy and Porvenir... that's pretty expensive just for those two plus some PFS scribbles. Land acquisitions were always going to be tough as many dig their heals in. SOLG better suited to deal with these issues than BHP as the latter just make the locals dig heals in deeper! Hence why BHP are happy to see SOLG do that leg work.
:)
Fort, there's plenty in your posts with which I agree, but then you go and spoil it with daft comments about the Going Concern section of the accounts. It's perfectly clear you simply don't understand the significance of not having a qualification attached to the statement. It effects every aspect of a company's business, from being given credit by suppliers to raising cash in the market.
The board pulled-off a blinder in this respect, but you should never underestimate how critical it was. Had they failed, we'd currently be looking at a share price in the low single figures.
Agreed Addicknt, thank you.
Quady; "Good grief Jezzoo, you win uninformed post of the decade maybe in all history."
Do I get a badge ?
I'll give you it back when the first offer comes in. I'll keep you informed.
Morning Dbw, yup tin hats for sure in a very volatile market.
Reminds me of days gone by with big swings( traders dream?) Where we would sink but recover by the end of the day.
But trying to ignore the daily sp what do we think Nick can do?
Sell his stake to another major
Put himself back up for the top job
Help with arranging funding( stream)
How many of these options are realistic and could he pull something else out the bag?
I think it's safe to say those invested ( not Bhp, Ncm maybe BR?)are more likely than not to back Nick than current setup no matter what is said on this bb.
Look lets get real here.... the market has wanted a sale for a couple of years now. Majority of shareholders have wanted a sale for a few years now if not the last year for sure. Not many believed the we can go it alone story but it supports higher bids if proven possible.
So here we are near multi year lows AFTER the PFS which was supposed to put a line in the sand on valuation. So is the market trying to force the issue?
One thing for sure is that if there was ever a time to strike a bid on SOLG now is it.
It might nit have happened the way we wanted it to but the end price can still be near the target should bid war commence. Noront classic example. Ultimately it's about the asset or assets and how much someone wants them. No one is going to allow BHP and co to walk away with it all on a low ball bid of 25p or 30p. NCM will want at least 45p+ imho. Will it get to £1? Who knows but if you asked me if Noront could be sold for 110 cents when it was just 21 cents, I would have said no way. 70 cents at best. So let it soak in... depressed share price equals increased bid potential.
Now the 'going concern' bedwetters have moved on, the share price should begin to reflect the increased likelihood of a sale.
I do agree with him on one point though.
There was nothing bad in the RNS
Unfortunately there wasn't any news that could drive the SP up
and that's what the PI's were waiting for.
I feel sorry for all those who sold out today.
This will be back up soon, imo
Good grief Jezzoo, you win uninformed post of the decade maybe in all history.
What has the current share price got to do with Solgold taking this to production.
Do you actually believe production costs will be raised through equity.
Woody, had the board be unable to persuade them, a Going Concern qualification would have been absolutely disastrous and would have made the task of raising more funds even more difficult. So, thank heavens they did.
Forget whatever else was in the accounts, this section is far and away the most important.
By the way, I think a few people have said it's all standard stuff - it most certainly is not.
Good grief even Quady is contemplating this going to 5p
How's the forecast for going to production now ?
That really is an insignificant amount.
I think we will have a successful buy out.
Not another failed fund raise
At least I hope so.
Morning Smickster .... just dug out my old tin hat
I agree re BHP but I'm banking on the fact that NM will have something lined up to counter them. It only takes one person to show their hand here and everything changes , this needs to happen quickly , certainly before the AGM
Bozi, I'm guessing people's reputations will be fine if the final outcomes is a positive one.
The fact you are still invested says to me you (as i do)believe this will be the case.
So we wait in pain as we watch our paper gains wiped out.
What would not be good is for a raft of pi to sell out when we may need them going forward to stand against bhp tyranny.
Fundraise at 10p if they are lucky. Who wants to put money in shambles like SOLG in these turbulent times?
That doesn't apply to me bozi, after stating I was selling out at 39p, Thankfully never been apart of the "echo chamber"