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Like many explorers smickster no issue there cricket you want to see some other explorers current debts in millions!!!
Angels on the head of a pin...
MD&A still to come by COB Ontario tomorrow...
Red thanks for link copper in huge demand
Looks like accounting mistakes as opposed to someone fiddling?
This misappropriation resulted in the overstatement of our exploration assets by US$4.6 million, with the associated false expenses having been capitalised in-line with SolGold's accounting policy. SolGold concluded that it was appropriate to write-down the value of these assets accordingly and restate our financial statements. The profit and loss impact for the year ended 30 June 2022 amounted to US$227,846, reflecting the fact that most losses were incurred in prior years.
Give it rest Quady.
Jason Ward $330k+?? Seems excessive compared to other directors. Twigger $110k for what? It's the chairmans job to make sure all are aligned and he's the go between for large investors and management when things get dicey. Did he go missing in action or fail to understand all shareholders interests when discussing or testing the market for funds??
Some eye watering sums being spent and yet very little being delivered outside of the PFS.
$35m spent on Tandy... mmm are we to expect an MRE on that one?? If not... how did we get an MRE on Porvenir based on less spend??
Not a problem raising funds imho look at the assets !!
Correct Shipright, the fund raise didn't proceed, so it never took place.
Maybe now people on here will accept it.
It's a bit hit and miss copying and pasting on my phone
the Directors expect that future funding will likely be provided by equity investors, debt funding or via other strategic arrangements.
With regard to funding, this was addressed in the RNS from 28 July to clarify to the market that the Company had engaged with investors about potential funding but did not proceed and that the Company is progressing funding options. We are very confident that we will meet our funding needs and deliver on the upcoming catalysts that include the Cascabel PFS Addendum and Porvenir PEA
I am happy to buy more
Or existing shareholders and happy to buy more if needed sure there's others who will aswell IMHO
Correct ship as soon as possible number three RNS soon imho clear up this funding issue ,what an asset to hold here imho for any investor or institution or conglomerate
The rns is a bit different to the email from a week ago.
that include the Cascabel PFS Addendum and Porvenir PEA.
I understand the frustration and concern that you and other shareholders have shared with the Company on the subject of funding and following the stock’s underperformance in the last couple months. I of course can’t share anything specific on funding options but want to assure you that this is a focus as you would imagine and is being progressed and as soon as we are in a position to update the market we will as soon as possible.
Quady three in a row to come maybe let's see next week
Yes just skim reading, cannot see any surprises so far.
That's the second one now
Very reassuring ...
I can't see a quoted or personal comment from the CEO of CFO. That's unusual. BHP need to take out this company and do it a favour
Q, sadly 25p is currently pie-in-the sky stuff.
Anyway, the accounts have appeared and there's much to take in. Of particular note is the Going Concern statement. As of yesterday no firm funding proposals were on the table, but they have gone to great lengths to explain why they're confident of raising cash and have signed-off accordingly. The cash will run out in December or January and they point out that there are various measures which will allow them to continue for a bit longer beyond this time, although none of them are palatable.
We all understood this, so it's not new, but it is spelt out in some detail.
Mothing much to see here...move along please...
Addicknt how about a scenario where we do a equity raise at say 25 pence a share and bring another party in .
This works for two reasons.
First any person or persons coming in would acquire a block without going to the open market and thus paying less.
Second it would force BHP and NCM to take part or get diluted.
To suggest NM has "given up" on SOLG is pretty daft - he has way too much riding on this.
However, as far as future fund raises are concerned he's looking pretty exposed. Obviously, we can't be certain of his personal situation, but DGR only had Aus $2.5m cash at the end of July and I think it's safe to assume that in the absence of them raising more money, they will be unable to participate in anything we end up doing.
Naturally, this means that a placing/Rights Issue would be last on his list of preferences and I'm sure he was lobbying hard for another royalty deal, which of course brought him in direct conflict with BHP, who, yet again, got their way.
This implies NM finds himself in a tricky situation; so what will he do? Accept significant dilution, or push for some form of liquidity event? If he opts for the former his voice will become almost irrelevant around the table, and any power he had to influence events will be much diminished.
For me, this conflict of interest between NM and BHP/NCM is the key driver of how matters will unfold and it explains much of what has happened over the past couple of years - and it ain't over yet.