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Sharket .....spot on
Q when and if we do another raise it will no doubt be on different terms as those terms were not acceptable to certain shareholders ( that much we know ) which is why it failed.
If we raise later with different terms that is a totally different proposal that ( however onerous) will have been acceptable.
So far in the last half hour 4 different people have contacted me asking why I’m wasting my brain time on you …. They may have a point
Correct SharketMare Discussions which so far have not ended.
When they have a cash raise will follow shortly after.
We await the terms.
No DBW I don't that's the whole point.
You will understand the difference when we do a fund raise.
"In addition to the cash position of approximately US$26m as at 30 June 2022, SolGold continues to consider, and has had discussions with its major shareholders regarding possible financing structures and options to obtain funding to further progress the Cascabel development, including a potential equity raise. "
- RNS, July 28th
SOLG's share price is down 31% since releasing that RNS.
The FTSE All Share index is down 2%.
Read what I wrote (or get someone to do it for you if needed). I said it was a significant factor . Of course the wider market sentiment had some part to play too.
So you honestly believe the company felt the need to RNS the fact we hadn't raised any cash for no good reason??? They hadn't failed they just thought it might be nice to tell us there hadn't been an attempted raise .... ???
So should we expect the following news flow this month from the company....
Not drilling Rio
Not drilling Blanca
Not making another offer for CGP
Not sacking Darryl
They'll be busy releasing news every day telling us what we haven't done .....
So DBW your logic is because the broader market is down and a record 1.9 billion exited UK listed stocks in August (looks like September is going to be just as bad.) largely for private investors, Also the Ukraine war, plus Covid is still rampant in the world.
Companies have been falling, but in Solgolds case it's because of a fund raise that never took place because it never went ahead.
That makes perfect sense.
Quady you utter ****wit …. That would depend at what price we raise …. Even you should be able to figure that out . What I’m saying is failing to raise money in the market has certainly been a significant factor in the recent calamitous share price performance
Seems like a long time ago since he said he would go away and stay away...
He sure loves an argument...
Still filtered...
So according to you DBW when we get the fund raise the share price will recover to previous levels.
Here we go again, He starts off being reasonable and as soon as the conversation isn't going his way he resorts to "Quady knows best" and insulting commments.
It will carry on until somebody shoots him down in flames and then he'll sulk for two or three days until he thinks it's been forgotten.
Good grief !
Don't tell me what I do and don't know, bit arrogant even by your standards ......I believe the failed raise has a significant bearing on where the price is today ..... in fact I know it and so do plenty of other like minded (sane) investors here.
https://www.miningnews.net/m-a/news/1437409/%E2%80%98m-in-mining-has-finally-begun%E2%80%99-jefferies
https://www.wsj.com/articles/bhps-oz-bid-could-signal-a-new-dawn-for-mining-m-a-11660054233
"BHP, however, is playing the long game: It appears to believe fears of a deep recession may have been overdone. It will be interesting to see if its rivals agree—if so, more bids for OZ could be in the offing....
With large miners generating strong free cash flow, commodity prices down, and the world’s long-term push toward decarbonization still intact...now might be a propitious time to take a look at new copper or battery metal assets on the cheap.
Anglo American, Teck Resources and Rio Tinto could be potential suitors, reckons Jon Mills, equity analyst at Morningstar—although none have made any public moves.
BHP and its peers have been cautious about acquisitions after overspending on megadeals during the last commodities boom a decade ago....But BHP’s pursuit of OZ is in line with its new strategy to expand in metals that will be needed for the green-energy transition. Copper is key to manufacturing of electric vehicles, wind turbines and solar farms...."
https://seekingalpha.com/article/4539131-bhp-group-m-and-a-optionality
"Last year, BHP tried to acquire Norton Resources, but then management decided to walk away. This time might be different. However, BHP's A$25 per share offer is already expensive on NPV calculation.....As we already mentioned, BHP might feel some pressure to move on with M&A targets after having reduced its coal division and on the way to exiting its oil segment...."
That's not true DBW and you know it .
Why not look what's happening on the UK stock exchange in August and understand the shift.
I agree woody except...
There is a MD&A every quarter and a Financial Report every six months plus a presentation usually updated every month or when Darren presents...
Of course the occasional RNS would help but Darryl has nailed his colours to Cascabel and Porvenir (which makes the Helipuerto reference even more puzzling)...
Cash conservation may explain the lack of drilling news.
The cash at the end of
The operating cash outflow for the three months to March 2022 was $2,323,771, thats c$800k per month but net receivables increased at at that date by $1.4 million
The operating cash outflow for the nine months to March 2022 was $9,174,948 or c$1 million a month.
The cash balance at 30 June was $26m having been $38,107, 804 at 31st March, having spent c$18m on exploration and evaluation activities (preumably mainly Cascabel). So obvioulsly they continued to spend on Cascabel and Porvenir, but with little more to come and presumably drilling activities reduced this explains why they can get through to the year end.
Yeah Woody …. The failed cash box raise
Woody we know why the share price has dropped.
Come on let's get this over 20p
:)
Q, I've asked you before, but can you please give us just one example of a situation where a company has issued an RNS proclaiming a failed fund raise?
Quady if I were you I would try and look objectively at why the SP has dropped 50%+ over recent months, it is a fairly conspicuous mess if you compare to other shares out there.
Woody can I question your point 4.
We never had an RNS about any failed raise, that was one of my points.
https://www.reuters.com/markets/commodities/turquoise-hill-minority-shareholder-not-interested-rio-tintos-33-bln-offer-2022-09-01/
Above shows some minority shareholders digging in but yesterday Rio entered into an DAA so looks like it's going through at $43 a share.
That's a steal for RIO although worth noting they did open with a low ball offer and then upped it to $43 soon after it was declined.
Oz Minerals and BHP news should be out soon. Last offer was poor by BHP so will be interesting to see what they come up with next and how Oz Minerals go about defending it.
M&A alive and kicking out there although you wouldn't know reading some of the negativity on SOLG of late. Some folk just can't see the bigger picture even when it is staring them in the face.
DBW thanks, I think you point re Mather/Irwin is one reason why a lot of PI's are hanging on in there, aside from the fact that a lot are underwater and have no easy other option.
Bozi, I think the delay is due to the fact that we're currently around the table with our main shareholders trying to reach some form of agreement.
Pretty well summed up Woody
So why are Nick/CGP (usually so vociferous) so seemingly unfazed?