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MF, to answer your question; no I wouldn't be complaining if the sp was 38p, but it isn't, is it?
Let me ask you, if the sp was at 38p now, would you be complaining about the company?
Would you be demanding to know what is going on?
Well I will repost my earlier post, it’s there if you wish read it, all things take time especially in very difficult terrains
28 July 2022
SolGold plc
("SolGold" or the "Company")
Business Activity Update
The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to provide an update on the progress of activities within its exploration portfolio and the Cascabel project.
SolGold's regional exploration programme is focused on a number of highly prospective projects where extensive and systematic geological and geochemical field programmes are underway to rank the priority drill targets, notably at the Company's Porvenir and Helipuerto projects located in southern Ecuador.
Porvenir is the Company's second priority after Cascabel and SolGold has engaged M3 to progress the Porvenir project Pre-Economic Assessment ("PEA") that is on track for completion by year-end. Additionally, field programmes are continuing at numerous satellite targets to the Cacharposa deposit that comprises a Mineral Resource of 397Mt at 0.44% CuEq in the Indicated category and contained metal content of 1.40Mt Cu and 1.80Moz Au (1.75Mt CuEq). Cacharposa is the second Resource to be defined by SolGold as part of its strategy to define a multi project portfolio over the length of Ecuador.
Regional exploration activity has identified the Helipuerto project as the next most important target for the Company. The Helipuerto concessions lie on the southern margin of the Solaris Resources discovery at Warintza where Solaris has published an in-pit Mineral Resource of 579Mt at 0.59% CuEq in the Indicated category. Geophysical, geochemical and geological analysis indicates extension of the Warintza system into SolGold ground and SolGold is expediting the delivery of drilling and environmental permits to drill test extensions to the mineralised system. An initial focus at Helipuerto is on the delineation of the size and tenor of the Tinkimints copper prospect including mapping and sampling of the area directly south of Solaris's Warintza copper-gold porphyry deposit.
They are busy, atb
Bozi, agreed. That budget was meant to be totally revolutionary and pave the way to the sunlit uplands of a vibrant, free market economy. It did no such thing and merely tinkered around the edges...just like most budgets. And as for reducing stamp duty...We have a disastrous situation whereby millions of youngsters can only but dream of owning a home, so what do you? You pour petrol on the flames. Unless they government actually bites the bullet and removes the archaic planning laws, particularly in supposed Green Belt areas, such as the one which encompasses Leeds, supply will never meet demand. So how does this government address the issue? It decides to increase demand. Genius!
So Jezzoo the management are preparing the PEA for Porvenir, They are updating the PEA for Alpala, they are planning a cash raise to get Alpala to DFS.
They are looking at funding options to get us to production after DFS. (BFS maybe required)
They are looking at the engineering resources we are going to bring on board.
They have communicated everything when required.
Why are the management lazy and non proactive.
That statement makes no sense.
"Ecuador politics rock solid"
That has cheered me up no end after Kwarteng's disasterclass of a mini budget.
Fort, you make some reasonable points, but in my opinion it's not possible to disconnect the events of the past few months from the precipitous share price.
I'd say 75% of the low SP is down to management (in)action, the rest is probably down to world events.
Sterling was 111c US this morning, does the copper price have a basis in US$ ? I'm only basing it on the way oil is traded
I'm not sure TBH but if that's the case the value of a LSE listed copper based company should be 20% higher this year in theory. Less the lower POC of course expressed in a % and world events listed elsewhere.
All in all SOLG is massively undervalued due mainly to lazy and non-proactive management.
All IMHO
"enormous impact on market confidence"??
addicknt, where did you get that from?
Is that you extrapolating due to low share price? The share price is low as market sentiment seems low. Why do you think NCM are near sp lows. Many others too. Putting that aside, SOLG's liquidity (stock) has been poor for months if not years now. Volumes only really increase (as does the share price) when you have II's like Norges or Blackrock buying. The recent RNS on funding talks has without a doubt put a hold to any buying by Norges or Blackrock et al. Why would they if they have been told funds are required. They will just sit on hands and await the fund news and then either take up offer or if royalty deal, they will then recommence buying again assuming that's their plan.
SOLG could be pumping out great RNS's and the Board could be holding hands and dancing around the table but I'm afraid if the market thinks you need cash it's going to discount your share price. That's how it works.
Nothing to do with 'confidence'. The asset is rock solid. Copper demand rock solid. Ecuador politics rock solid. Everything is fine... apart from the funding and the market is taking a gamble and saying.... we think you'll need to raise via equity issue and we'll discount you accordingly. End of.
Less drama... more reality.
If you remember, SOLG was 17p levels back in 2019 (11th October 2019)well before Covid broke and delivered the 'end of the world' low at 12p levels.
We've been here before and we always seem to be hitting the 40p levels months after. That's SOLG for you.
I'm quite chilled as am here for the end game and doesn't matter whether sp is 17p or 34p right now... the takeover offer is likely to be the same simply because Mather et al won't be selling unless a certain number is hit.
Finally, look at the volumes on the share price fall from 21p to 17p. It's not even £100k in cash being spent most of the time. It could be beer money pi's turning stuff over and even they would break 1m share traded between a handful of them. It's pony volume and the share price should not be suddenly transformed into 'enormous impact' or 'we're doomed' or 'SOLG towers in crisis'. Look at the BIG money. It's going no where. What does that tell you????
Why shipright what have I said that's incorrect.
In that case Quady you need to take your head out the sand
Sorry Bozi I disagree, no way is my post patronising.
I don't believe the current share price is anything to do with what management have done.
I believe it's down to unrealistic expectations.
We have a world recession coming, we have a war in the Ukraine.
We have China in a debt crisis.
We have trillions exiting stock markets all over the world.
On the local front.
We have people buying when they believe we get a takeover and selling when they don't believe it.
I have now said this over 100 times.
Our volume is terrible. We cannot even get 10 million a day everyday and even then more is required.
Share price is down for many reasons, but I don't see any of it being down to Solgold management.
In the past 3 months, BHP and ANTO are down 11%...
SOLG is down 50%...
How about a Solaris/Solgold partnership for Warintza/Helipuerto...or even an outright sale...?
https://www.solarisresources.com/company/company-profile/
"Solaris is managed by the Augusta Group, which boasts an unrivaled track record of value creation totaling over C$4.5B in exit transactions over the last decade, and has strategic partnerships with the leading entrepreneurs in the mining sector."
https://www.solarisresources.com/projects/warintza/
Morning Quady
I have to admit that is a patronising post.
There are investors who are huge amounts of money in the red, partly in due to the questionable actions of SolGold management.
Please don't tell them they need to be patient and need to forget the share price. It is of course beneficial if you can, and you can be personally satisfied that you can, but not everybody can.
You may be happy with the company's communication but not everyone has to share that view. I personally see both sides of the coin on this. I'm happy the company has delivered on the previously stated deliverables but I have no qualms with anyone who expects more frequent updates on the business generally.
Part of the share price decimation is due to sector weakness but part is due to company management foul ups. Any company in the market should be positioning itself to recover quickly and substantially when the worm turns, but unfortunately, SolGold's weak treasury and board uncertainty will both be continued drags on the share price.
Maybe if you want to understand Solgold you could do worse than read Mathersfingers post, reminding us that we have had all relevant information and that we have a pathway laid out to the end of the year. ( No more communication required till year end)
We just need to be patient.
We get the PEA for Porvenir.
We get the updated PFS for Alpala.
We get the funds to hopefully take us to DFS.
Then funding options open up for us, in order to construct Alpala and bring us to production.
Solgold have communicated fully with us. They have preformed well and are doing everything they said they would.
Trouble is some people on here thought we would get a bid, and although it's taken years, they are starting to slowly realise that we are going all the way and we can defend.
As for the share price. Forget it, it will recover in time.
"Markets are markets... they make no sense most of the time. "
Shortly followed by:
"The last time SOLG went into a PFS RNS, the sp was 40p and 36p on the day of the RNS. The PFS2 is expected to be better than the first PFS. So logic says the market will repeat itself?? Why wouldn't it? Nothings changed."
You tie yourself in knots sometimes Colonel :)
addicknt, we're just left guessing and hoping that something is going on behind the scenes. I'm refusing to get my hopes up this year as this lot are masters of disappointment, but you never know, maybe Darryl will prove himself to be a Harry Houdini of sorts and get us out of this pickle.
Shipright
They are doing something as per the RNS, it’s all there if you care to have a read, atb
28 July 2022
SolGold plc
("SolGold" or the "Company")
Business Activity Update
The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to provide an update on the progress of activities within its exploration portfolio and the Cascabel project.
SolGold's regional exploration programme is focused on a number of highly prospective projects where extensive and systematic geological and geochemical field programmes are underway to rank the priority drill targets, notably at the Company's Porvenir and Helipuerto projects located in southern Ecuador.
Porvenir is the Company's second priority after Cascabel and SolGold has engaged M3 to progress the Porvenir project Pre-Economic Assessment ("PEA") that is on track for completion by year-end. Additionally, field programmes are continuing at numerous satellite targets to the Cacharposa deposit that comprises a Mineral Resource of 397Mt at 0.44% CuEq in the Indicated category and contained metal content of 1.40Mt Cu and 1.80Moz Au (1.75Mt CuEq). Cacharposa is the second Resource to be defined by SolGold as part of its strategy to define a multi project portfolio over the length of Ecuador.
Regional exploration activity has identified the Helipuerto project as the next most important target for the Company. The Helipuerto concessions lie on the southern margin of the Solaris Resources discovery at Warintza where Solaris has published an in-pit Mineral Resource of 579Mt at 0.59% CuEq in the Indicated category. Geophysical, geochemical and geological analysis indicates extension of the Warintza system into SolGold ground and SolGold is expediting the delivery of drilling and environmental permits to drill test extensions to the mineralised system. An initial focus at Helipuerto is on the delineation of the size and tenor of the Tinkimints copper prospect including mapping and sampling of the area directly south of Solaris's Warintza copper-gold porphyry deposit.
Am I right in saying the missing now $4.5m represents 25% of SOLG's cash ATM ? and it's a rising percentage.
It's when your are looking down the back of the sofa you wish you had been more careful with what you had.
I find it very unusual that $4.5m goes missing, it's reported once and nothing more is said by the company.
Is it under investigation ?
I wouldn't want to be out of this over the weekend...or the next week or so...
At this pri ce and with no news, it might go lower, but nobody much is selling...
Lets see...
Fort, it's important to focus on both parts of the narrative and I'd have thought my post was easy to understand - we have something incredibly valuable and yet this management team have succeeded in halving the value of the company. I'd have thought that was pretty clear.
Incidentally, there's nothing minor about the issues I mentioned - they've had enormous impact on market confidence. I believe in the future of this business, otherwise I'd have sold my large holding a long while ago, but I'm deeply disappointed with the performance of this team. The board of any company has one objective only, to deliver shareholder value, and thus far DC has failed miserably.
Explorer to developer.
We are supposed to be both and should still be exploring which we don't appear to be doing
addicknt, I and many other share your sentiment. Communication could have been better of late. Actually damn disappointing!
But still good to see that Fortissimo sees the bright side on the other side of the coin. LOL!
The perceived blackout of news must surely be broken within days?
We ARE a rare Tier ONE proven discovery that the world needs to see come onboard to fill the copper deficit!
addicknt
I'm not sure I understand your post? I know the sentiment but in theory the first part of your post is what you should be focussed on. The second part is just the product of a maturing company which is moving from explorer to a developer phase. Combine this with the usual pre bid tussle and quandary over how to get the piggy to market or over the line and that's basically why you have all this stuff. Darryl might not be cutting it at CEO level or on the PR but his CV outclasses the majority of the SOLG Board and past board members with exception to Mather. His credentials are the reason he's there. He's there to reassure potential funders / investment partners of the $3bln required that the project is doable and has been strongly tested. He's dealt with tier 1 projects. Majority of SOLG board have never been close to a tier 1 project.
You seem preoccupied with the minor stuff. That said, the CFO departure is not minor but that's perhaps the most telling of all the recent departures. What if she was brought in to get an IPO away but then that plan got canned by xy and z? Suddenly her expertise not required? Many reasons are not all have to be about turmoil. Many might be positive and you'll find out soon.
As for the share price.... how low can it go?? Markets are markets... they make no sense most of the time. I think the better question is... how LONG can the share price be kept low?? My guess is not long. Why? Because the company has major news coming up with Porvenir PEA and PFS2. The last time SOLG went into a PFS RNS, the sp was 40p and 36p on the day of the RNS. The PFS2 is expected to be better than the first PFS. So logic says the market will repeat itself?? Why wouldn't it? Nothings changed. And before someone says the market backdrop is poor now... well, just look at the FTSE100 benchmark. It's actually up (yes UP) on a year to year basis. Doom and gloom? You wouldn't know it looking at the main market index.
Morning Bublé
Whilst I can see that heading looks a bit squiffy - its in relation to Gina Rineheart & her co H-ck Recoursces
https://www.bloomberg.com/billionaires/profiles/georgina-h-rinehart/?leadSource=uverify%20wall
[when u type the full name - because it has Han[co-ck] contained within it then replaces the "offensive/NOT offensive" part with stars..........
Hope that explains........
https://www.bloomberg.com/billionaires/profiles/georgina-h-rinehart/?leadSource=uverify%20wall
r's
BN.c
ps cant stop around today
You won't get pinot or anyone posting information like that on a bb board imho