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P.S. Wholeheartedly agreed with your post last night on funding and what on earth the company have done with the $70-odd million they've raised!
CD, come off it mate. As Bozi pointed out, you have repeatedly suggested that a royalty deal was/is on the cards, despite our CEO literally saying it wasn't an option until we've published the DFS. The idea that you stick to facts and avoid speculation is one of the funniest things I've read on here this year, it's your bread and butter.
Unless you are invested in a company you are truly nervous about or anything Russian linked or need the readies, this is a good time to simply ignore price actions otherwise you will end up giving your shares away cheaply. lots of news about future commodity prices spiking between 25 to 50% within 18 months and guess what we are sitting on a shed load of copper, silver and gold with the first 2 needed in huge amounts to kick start the electrification of the new world. 2 more years should do it...
As for me I'm adding as and when
Have a great week all ;))
Oh Bozi... I see you retreat to the usual 'attack' as the best form of defence.
I'm just following the company the company like everyone else and using the material that they release as the factual position. And you call that misinformation?? Ironically... I partly agree but that's the company 'misinforming' not me.
You keep on posting the negative stuff and praying for that cheap equity raise as we all know that's what you want. But that's not what the majority of us want at all.
Are you invested in any other stocks or is SOLG your only stock investment?? Just curious?
On the contrary Bozi the PEA for Alpala underpinned the price at 10p, before that we went between 1.5 and 10 pence.
The PFS got us to 46p. However underpinned us till recently at around 22p.
I believe what we are seeing is external.
People need money, and people moving to safe havens. It's temporary in my view. Lot's of turmoil in the world, creating the uncertainty we are seeing.
Again Bozi the mining press have been talking about a Solgold takeover since hole five. That's about a decade ago.
I don't pay any attention to speculation.
I like to see what changes are occurring.
If it looks like someone is acquiring above twenty percent.
I will of course rethink my position on a possible bid.
Bozi forget ColonelDrake, he has been wrong on everything. He talks about fund raising being difficult because if the low share price.
When the fund raise comes, it will be based on a price that investors are willing to pay. NCM and BHP can of course not take part. In which case they get diluted percentage wise.
Can't see that happening.
Quady-I know you don't put any stock in the press but The Mining Journal literally stoked a takeover rumour a few weeks ago. As much a did like to agree that it's simply "in the heads of some on this forum," that isn't true.
Also, this notion of studies underpinning the price... I would suggest there is enough evidence to suggest that might not be the case. Look at what happened with the MREs, the PEA and particularly the first PFS. The stock was dumped every time.
Morning Bozi, on this I disagree. There is no takeover rumour. It only exists in the heads of some of the people on this forum. Any takeover rumour would see us increase our share price north of 40p.
I believe even when we sort out our next fund raise, we will not see a massive difference in the share price.
Hopefully a good PEA for Porvenir and the updated PFS for Alpala, will underpin our price.
However the DFS will be more positive because then we fund raise for the construction of Alpala.
This will mean we will see real value attributed to Solgold, and as the production day gets nearer, a proper step up.
And what is happening at Porvenir, Fort? Have we had any drill results lately? Any metallurgical study updates?
Not likely seeing as we potted our Mettalurgy Manager.
It is you who is responsible for misinformation my friend. It is you that has been talking about "grass roots folio JV discussions" despite SOLG giving no indication over the last 2 years that they have ever progressed anything from "talks". It is you that keeps harking on about another streaming deal despite Darryl Cazzubbo being quite clear that this wouldn't be an option before the Cascabel DFS.
There comes a time where you have to stop perpetuating the ramps and see them for that they are... precisely that.
You can find it within you to admit that you've been suckered in. I suggest you do that instead of trying to find fault with my comments and replying with weak arguments.
Tell me what isn't factual from my post FTJNY.
I refuse to be drawn into this echo chamber of positive re-enforcement you so dearly crave from other investors.
SolGold has never seen times as perilous as they are now. I refuse to shy away from that.
Bozi,
"we have zero regional activity with no prospects of this changing until further funding is secured " END
That's not quite true. You keep throwing these little negative bombs out there and it's misinformation which is not great at all.
There is regional activity albeit limited. It's called Porvenir. And as you know, SOLG are in discussions with interested parties with regard to JV deals on some of the grass root and regional projects. So more than possible that regional activity commences without any funding at all.
The lower the sp is, the less likely a fund raise. It's likely to push SOLG toward doing a different kind of deal. And quite frankly, after raising $78m+ last year on the basis of an aggressive exploration plan and then delivering virtually zero exploration but somehow burning through that cash... well... I can't see them getting more funds via the market on 'false pretences'. Investors don't like being duped.
With 60+ licence blocks with a minimum spend attached of $430m (roughly $7m) per licence... many would like to know what SOLG are doing about this great acreage??? Last year they handed back 10 licence blocks for nothing.
Lets keep it factual.
Bozi;
Your final paragraph is rings true with me, I need approx 65% uplift from the current SP to break even now, my worst performing share by far.
If it wasn't for takeover FOMO I'd have cashed at around 25p, stuck it in an oiler and gained my money back.
There will be many more like me. Something big must be happening in the background, it just doesn't make sense to just drift into insolvency after 10 years.
Pis£ing on your own door step again Bozi?
Quady, that suggests nothing has changed with the company and our price performance is purely macro related.
I don't believe this to be an honest and fair reflection.
SolGold are starting to run low on cash and capital markets aren't exactly conducive to large fundraises right now. Combine this with the fact that we have zero regional activity with no prospects of this changing until further funding is secured and we therefore have very little in the way of operational catalysts.
This serves to basically suck any hot/trader money out of the market.
The only thing that is keeping most of the long termers interested is the potential that BHP or another makes an offer for the company.
Without that lingering whiff of takeover potential we'd be sinking towards single figures now. No doubt about it as the SOLG investment case today is quite weak.
Ok this link cannot be copied, what it is about is 1.9 billion withdrawn from UK equities in August and it doesn't look like it's getting any better.
What people largely forget is although pension companies and funds hold large amounts of shares in companies.
That this is not true for companies like Solgold.
We have a large private investor base.
People require money with the cost of living crisis and indeed rising inflation.
I believe that the story below may explain our current share price.
https://www-thisismoney-co-uk.cdn.ampproject.org/v/s/www.thisismoney.co.uk/money/markets/article-11181269/amp/UK-investors-pull-record-1-9bn-equity-funds-August.html?amp_gsa=1&_js_v=a9&usqp=mq331AQIKAGwASCAAgM%3D#amp_tf=From%20%251%24s&aoh=16625332306340&csi=0&referrer=https%3A%2F%2Fwww.google.com&share=https%3A%2F%2Fwww.thisismoney.co.uk%2Fmoney%2Fmarkets%2Farticle-11181269%2FUK-investors-pull-record-1-9bn-equity-funds-August.html
We need to be aware of developments like this ,but, as we've been told on a number of occasions, no such rulings apply to our concessions.
The trouble is with seeing how NCM treated GGP and I mean shafted them, I honestly feel NCM and BHP are cut from the same cloth.
Time will tell.
14th August - Now that BHP has the chequebook out for a big copper deal, the spotlight has turned on other potential targets in the sector.
But the one in the analysts’ lists that caught Street Talk’s eye was SolGold, which is based in Brisbane, listed in the UK with about a $1 billion market value, and has a following among Australia’s resources fund managers and analysts.
Unlike BHP’s current target OZ Minerals, SolGold is attracting headlines for all the wrong reasons. The company lost its new CFO after only a month or so last week, butted heads with some shareholders over a pulled equity raising in July, and is short on near-term cash.
What SolGold does have is a big and promising copper/gold/silver project in Ecuador, called Cascabel, that it is trying to develop at a $US2.7 billion ($3.8 billion) pre-production cost this decade.
If all goes to plan, SolGold reckons it could mine Cascabel for 26 years at 210,000 tonnes of copper equivalent a year (about the same as BHP’s Olympic Dam mine), and generate $US14.4 billion cash flows after tax, based on copper at $US3.60 a pound. (At recent spot prices, it would be $US16.3 billion in after tax cash flows, according to SolGold’s presentation to fund managers dated last month.)
While SolGold couldn’t raise equity at the drop of a hat last month, it’s not because it doesn’t have deep-pocketed backers. Quite the contrary.
SolGold’s two biggest shareholders are Australia’s BHP and Newcrest Mining, with toehold stakes worth 13.6 per cent and 13.5 per cent of the company, respectively.
With SolGold reported to have only enough cash to see it through to the end of the year (after scrapping its recent $50 million top-up), there’s bound to be a time in the next few months when its two big Australian shareholders will have to decide how much they want Cascabel.
If it’s a bit, then the two shareholders will have to tip into an equity raising and try to maintain the status quo.
But if it is a lot, like some analysts suspect, then we could see a pair of Australian heavyweights in a ding-dong battle.
The company’s annual general meeting, slated for November, is a key date to watch.
The slug is very happy with the new cabinet appointments,
I can't give you any advice I'm afraid as not regulated to do so. Nor anyone else for that matter. But worth remembering that there were plenty of buyers filling their boots at 32p+ not long ago and that includes likes of Blackrock, Norges and others. So in theory... unless anything has changed asset wise, reasons to buy at 18p looks well founded. The risk of missing out on the upside from here looks higher than what the downside has potentially on offer. Markets usually get around to balancing the risk vs reward out so on that basis, I'd expect mid 20's to return pretty soon. Historically (on a 3 to 4 year basis) the share price hasn't remained sub 20p level for very long.
Hope that helps.
Is this the time to fill your boots again at these levels and throw caution to the wind or sit tight ?? Any advice or ideas whats going on??