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It doesn't make NCM/BHP stronger if you do a Rights Issue, a Placing or a Royalty deal...
Unless you place with either or both or a rights issue is undersubnscribed and they pick up more shares...
But a $20m issue would make no material difference...
Hi rednight
I was of the impression that SOLG was having difficulty raising money without making NCM/BHP stronger, which they would not want, but that may not be the case.
I just cannot get my head around why they cannot get funding when they have such a good find at Cascabel and first mover advantage in many other sites all over Ecuador.
As each day passes and the SP continues to dwindle, it beggars believe why on earth SOLG didn't do what they normally do, and raise funds in the first half of the year. Despite the various strategic blunders, one thing that the company has done well since I've been invested is stay capitalized.
For some reason, our relatively new CEO - who hasn't exactly earned a bank of goodwill he can rely on - has not managed that this year. This was despite alarm bells starting to ring across the world that the macro environment was set to turn pretty tough from about September onwards.
I'm don't want to open up the failed/not failed fundraise debate again. But I hope that Darryl has an ace up his sleeve to play in between now and the AGM specifically around funding. Given that we have done little else of note this year, I am not going to be giving him a pat on the back for Porvenir's PEA and the PFS addendum at Alpala. Why? These are hygiene factors - these are things we expect the company to be getting done, alongside the exciting, value accretive exploration activities (which have totally stopped because of funding and/or strategy). With Alpala in particular, the initial PFS was robust but tepid, using a fraction of the total resource - it certainly want to be added to!
The company line has been trotted out a lot of late - both publicly and privately. A number of strategic options blah blah. It really is crunch time for this management team to show whether they've got what it takes to continue to progress this fantastic asset and drive SOLG forward.
For a long time we've all hoped that Nick / the BoD have been working on something masterful and strategic behind the scenes. Maybe that is still true for Nick. But if we turn around over the next few weeks and notify the market we've done an equity raise at 15/16p, I will be voting all of them out at the AGM, because they will have totally mismanaged this company.
P*ssed off.
RK
Hope you are keeping well … just spent upwards of £200 having my pond cleared today . I thought it was unreasonable but apparently, after the summer, a lot of scum floats to the top at this of year … stay safe and ignore the noise
DBW
Hi pernickety...
BHP have always declined a seat on the Board. NCM withdrew Craig Jones in 2020 after the Franco Nevada deal.
Nick is on the Board representing himself and DGR. Nobody else qualifies...
No worries mate. Always happy to help. Cheers
Thank you RK, much appreciated. Let's hope they bring good news.
Hi Hellodolly...because the Annual Report and Quarterly MD&A are due to be published on 29 September or thereabouts...
Thank you Tesla for proving my post with your predictable behaviour.
You're actually not a nice person and you still haven't revealed your position.
Some of your statements are slanderous, so I'm affraid...you're fired...
I won't miss you.
Red, as you are generally helpful in answering my queries, please could you explain why all will be clearer in 9 days ?
I do not want to have another go.
I want the company to do well but it looks like fundraising is being controlled.
Larger companies that have a % share of SOLG may have different ideas of how the company should progress when they get seats on the board.
These are only my thoughts and are not to be taken as advice.
I hope the company rises considerably tomorrow.
go on, have another go !
Sorry assey results.
Looks to me like the company are on a care and maintenance basis.
Gone (for now) are essay results and excitement.
Cannot raise money of their own choice.
Share price falling on a daily basis.
I am still a holder but not so much now.
Whats next.?
Jezzoo, just look at the red flags and do what you need to do. I could be wrong as I've said but I don't think so.
Gl
I don't blame you Ray, last week I thought worst case was 15p, I've now revised that to 12p.
Or am I being too optimistic lolzzz, here’s a thought they could reinvent themselves as a coffeehouse and bakery company :))
Best to follow your own intuition and not follow anyone else, biggest costly mistake ever..
has anyone told NM that their recruit Darryl might be on an other pay list?BHP for example? can he do anything about it?
Wow, even for Solgold this is depressing!
Knowing what we have in the ground it’s unlikely to stay down here long term, but right now it’s pretty grim. And that’s coming from Mr Grim!
Do you call your constant ramping and boasting research….
That’s hilarious.
You love to post all your imaginary trades, after trades appear, to justify your investment.
Posting numerous times how you have managed to double your investment when it hits this level and that level.
As I said you are one of several disingenuous posters on here who think they are entitled to criticise posters who have an opposing view to your ramptastic goggles you seem to permanently have on.
I think you mistake these boards as a charity to air your personal issues and health problems.
Anyone investing 1.3m shares in an exploration company, that has funding issues in a worsening credit market, in Ecuador needs their head examining……….
No wonder you are on here ramping daily because you’ve screwed up big time…….have to say serves you right
That's because it was a raise, that failed.
If it was just a discussion with shareholders and not an attempt to raise, why even mention it?
Rns a raise, not a discussion about a raise , that has started the rot.
DBW - as you've shown to be keen to know when I'm buying back in - not for now!
to doubt is to sin