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Spot copper through $3.67...next target $3.70...this in the face of still strong dollar portends well...
While there may be coholders here, this is the SOLGOLD board. Theres been a good discussion of GGP but please can we return to a company that owns 85% of a major tier 1 resource and 75 other prospects.
Thank you
"The GGP board really are showing a rate of progress, speed of developments, acumen and clear direction that puts Solgs board to shame.." END
Orpherncopper... seriously... ?? Do you call doing a fund raise at multi year lows (8p+) as progress? I don't think GGP are a very good example of progress at all. 37p down to 8p and you think it's 'acumen'?
I suspect Wyloo might think it's good acumen !
At the end of the day, it's an example of poor decisions by GGP management over several years. NCM wouldn't have had 70% for a minor spend had GGP acted more like SOLG.
SOLG have 85% of ENSA. And that's a proper tier 1 asset. GGP have 30% of what they claim to be a tier 1 asset although I can't quite see it myself!
I've taken a slice of GGP today as a 'trading' share as think too many noses in the trough at 8p to not see a 12p/13p event in near future. I'll cash in on that move.
But I certainly wouldn't champion GGP as an example of good management or a good fund raise/finance round.
Thanks
Sharepad issues:
https://twitter.com/10to15percent/status/1569222400532684800?s=20&t=qdze7FdwMjGwtv8bEk7njA
Dbw, I read a few bits and pieces on Twitter this morning about issues with Sharepad. Similarly, I was pretty shocked this morning to log onto ii and see the value of my ISA and trading account had dipped by 66%, with a couple of shares showing at nil value, and others at prices far lower than the actual bid. Thankfully just a glitch....
From the slug
“No market makers on level 2 this morning on sharepad can anyone else with level 2 confirm?”
HeresHopin, erm???
The GGP board really are showing a rate of progress, speed of developments, acumen and clear direction that puts Solgs board to shame..
A Low point , while the lack of news has taken its toll on the Sp, over the last few months,
GLA LTH took advantage this morning and added a few more , it will bounce back soon enough, IMO
Fort - that is what I'm hoping for. That the radio silence following the botched fundraise is because they're now sat around the table hammering out a deal to be put to a vote at the AGM.
Agreed mistermeister however when we get the cash raise, we will be able to see what form it takes, and that will maybe make us understand what BHP and NCM were unhappy about.
The market wants to know who's running the show ... SOLG Bod's or BHP.
Beaver creek presentation tomorrow. Might get something 'updated' tomorrow.
Failing that... MD&A and annual report due in under 3 weeks. All coming to head now and AGM in under 11 weeks.
I do wonder whether they will SET UP and EGM at the AGM if you follow... make shareholders vote for a particular deal (with gun to the head) which would include voting certain management in.
One thing we do know is that BoD's always try and save their own butts first!
If the failed (not failed for some on here) fundraise did not please NCM and BHP, I dont understand why they could not have done a cash box style raise and added the likes of Wyloo to the shareholder register. After all if we offered and they did not participate then what is the issue?
Hedge funds often use copper as their go to trade when markets look like going bearish. They sell it hard. What they don't like is when copper remains firm against weaker market. When the market turns (and there are signs that inflation will peak earlier now) copper should be the first to move.
If ever there was a window of opportunity to strike a bid on SOLG (while at lows) now would be it. Tick tock. We are into the game time now summer drift over. Roll up roll up!
Looks like twiggy strikes again. NCM must be spitting bullets. Perhaps they'll learn that squeezing the little guys just means pushing the asset into some other companies hands on the cheap. Wyloo kicking @rse again.
Twiggy really doesn't like NCM and BHP by looks of things!
No worries Addicknt, great news over there today - fingers crossed for similar here! GLA
Indeed, Jerry. SD inherited the NCM position and has made a very good fist of it since then, although I remain mystified as to why NCM didn't exercise their option.
Jerry, they are like chalk and cheese. Shaun comes across as totally credible, honest, transparent - he tells it how it is and doesn't really sugar coat. Clear roadmap and today demonstrates he gets things done.
SOLG can't seem to raise $50m to keep the lights on.
addicknt, your general point is of course bang on. I am happier to be a GGP shareholder today than I am a SOLG shareholder.
I couldn’t be happier with Shaun Day. I couldn’t be more unhappy with Solgold board. The former has a plan, the latter hasn’t a clue…..
What a waste of an asset like Alpala.
SM/Iseo, you are both right...I got my calcs wrong! Nevertheless, you understand my general point?
Iseo, agreed - that was my reading. So they've given up approx 10% of the 30% (3%) which might rise to approx 15% if Wyloo take up their options (4.5%). Better than if we'd sold the 5% to Newcrest for $85m or whatever it was.
Think he’s including the circa 10% additional dilution, but my understanding is our 30% has been diluted by 10% rather than the original 100% of Havieron so with the 5% we retained from Newcrest’s refusal recently we are FULLY FUNDED TO PRODUCTION!!) and still hold a larger slice of the pie than if NCM had taken the 5%.
Also holding SOLG so hoping for similar success here - GLA!!
Maybe 20% of a Tier 1 mine planning on production in two years makes more sense than having 85% of ore in the ground for who knows how long?
I just wish we had a BOD of the calibre of the expanded GGP team