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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"
Spot on addicknt, in view of the perilous situation the auditors must have concluded that there is a plausible source of funds or a potential sale in the pipeline that will provide sufficient funds to avoid insolvency. Bearing in mind their professional obligation of prudence this is a positive point and a relief.
Smickster - I'm invested.
The two options are:
1) Speak freely and honestly and be up front with the other people on this forum
2) Only speak positively or not at all if you don't feel that way.
For me, it's no 1 every time. RK thinks that's perverse and I get where he's coming from but I'd rather be seen as perverse than just contribute to an echo chamber where we all ramp each other to the moon. Where does that get anyone?
That for me, is much more transparent than the unchecked positivity that you refer to.
There's no doubt about it, we should all have sold 3 months ago at 35p, but I didn't. That hasn't played out very well for anyone still holding.
But, the story isn't over yet. Far from it. Now is the time for management to put the blocks back in place to recover. They're going to be short on time, and that brings it's own problems, but they simply need to do it to rescue their reputations.
DBW, I think that's been there for some time, but the failed fund raise may have turbo-charged the process. If we end up with a placing we're going to be royally screwed, but if that's the only option, I much prefer it to the alternative.
For those of you who've actually been involved in the process of signing-off accounts in difficult circumstances, you'll know full well how difficult it can be to persuade the auditors that you'll be successful in plugging a liquidity problem. The board have managed to do that, and although it doesn't change the situation in which we currently find ourselves, the auditors have obviously accepted the argument. Given the criticism accountants have faced in the past, this is no mean feat - particularly as we are only weeks away from a potential catastrophe. So, if we're looking for crumbs of comfort, this is it.
RK, have you had any further discussions with IH?
Recover by close of business today!! Not a chance of that imo LOL!
My 71422 buy showing as sell
So RNS has not quelled the drop in the share price.
Still one person going on about a failed fund raise, still he is insignificant.
The question now is what stops the fall .
I think we now require the PFS update for Alpala, and the PEA for Porvenir.
Unfortunately that is going to take time.
Undoubtedly fund raise is happening in the background. Guess it's wait and see.
If this gets below 5p then I will be sorely tempted to break my rule and buy another tranche.
However I did not see the RNS as bad and hope we will recover by the close of business.
Like rRk said yesterday, it does t make sense to talk down your investments.
Just some transparency required , that's all.
And for balance I'm pretty unhappy with many things at solg but choose to stay invested.
If I no longer believed in the story I would sell up and move on leaving the good people to it.
This is not to say a rasing issues is a bad thing but some blatantly take the biscuit.
Medi I suspect there are several .... but at what level now ??
"there can not be one person on this BB that thought post PFS, post investment protection agreements etc we would be driven in to the rocks by our board"
I did..
Its been incredibly easy to mock the board over the last 18-24 months.. I have endlessly.... I have posted many times, poking at the competency levels of our management.. but today is actually a sad confirmation of it all. I never truly thought they could destroy value this quickly, by such inept handling of genuinely world class asset!
there can not be one person on this BB that thought post PFS, post investment protection agreements etc we would be driven in to the rocks by our board, and our share price would be around 14p.. and there will be those that still try to defend them and their track record... This has nothing to do with Covid 2 years ago, Lassonde curves or any other excuse.
To not raise funds everyone knew we needed, quickly as the worlds markets showed signs of slowing, is a mistake that should cost management jobs. If that means Mather steps back in Fort.... even though I dont like him, lets get him back in...
I believe we will probably end the day close to where we opened, but that is no victory.
Our board need to just get the pfs and porv news out and finally accept they are totally out of their depth when it comes to trying to compete with Tier 1 mining companies, and announce strategic change with intentions to monetise the asset immediately. To release those news items without any form of supporting funding path would be just woefull..
but is there a buyer, DBW?
Mcap now £365m, wow!
Disgraceful to allow decimation of sp. Every year for the past 10 years, we thought, this is it !!!! What's going on behind the scene - anything !?
Yes, everything else is down too !
New CEO doing a grand job nonetheless - joke !
ATB
Think they just put a for sale sign in the window .....
Smickster - not fair for you to level that accusation.
I've been both positive and negative about SolGold in equal measure. You, however, have never had a bad word to say about anything ever, despite the absolute mire we currently find ourselves in.
Maybe you should look a little closer to home.
Solg's mc is now lower than ggp, guarantee this changes shortly.
Yeah I'll let you have that one Fort.
Right, happy with that lot...
•¿•
Fortissimo,
Would Nick want to be re-elected ? (Probably)
Do private investors have enough power to make this happen ?(I don't Know)
Will the the big guns block it? (Probably)
Is it time for the fun and games to stop and allow a T/O & everyone to walk away with the shirt on their back? And a bit of profit for their loyalty ( I think so )
Am I deluded in thinking the above ( I don't know)
It's time for the big guns to show their hand now before this gets any worse.