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I think its widely known Colonel that they attempted a cashbox and when that was vetoed, they decided againt a rights issue...
Why would they?
"they are not diluted at all by Solg equity raises"....???!!!
They have 6.85% of the shares in Solgold...
Major shareholders had differing opinions. We know that. It's not rocket science as that's what happened last time around with Franco deal and cash box. One can only imagine that SOLG tried the same again and BHP/NCM said no... but the question is... what weight do they have? What can then threaten SOLG with? A takeover lol! And before someone says... how do know the stream deal was tried again.... just use common sense and the publicly messaged media spun around the Boliden visit. The latter weren't there for fun.
I doubt CGP tried to block a Solg rights issue.... they are not diluted at all by Solg equity raises. They keep their 15% of ENSA regardless
who knows where it will end up but fortunately absolutely nothing has changed with the billions of resource dollars that are in the ground awaiting extraction.
One the greatest copper/gold discoveries in the last 10 years. And every pundit out there thinks we will have a copper shortage in 4 years time.
Markets are weird places... demand for oil rises vs weaker simply and the cost of a barrel surges.
The market is simply saying... we don't think you can get it out of the ground... wake us up when you have a rock solid plan and finance in place to do it.
Here is a thought Redknight.
You don't know what a cashbox raise is.
You state that BHP and NCM may have blocked a cashbox raise.
But they cannot.
You see shareholder permission is not necessary for a cashbox raise.
So this was most certainly not the issue.
PS...thanks to all the guys who ticked up my post...and especially to averybody who has held fire on rrsponding to QWuady.
This is a much quieter and more well mannered bpard now, whilst still having healthy debate.
It occurs to me that it would be good to minimise the unpleasantness as we all reflect on a quite extraordinary life...
I was thinking, after Charlie threw the pen while signing his acceptance, that the Queen never seemed to lose her temper...
And indeed, supposing a tabloid was to do two in depth trawls of investigative journalism...one on the Queen and one on KC3...I guess the fomer would come up clean and the latter would raise a lot of uncomfortable questions, starting with suitcases full of money...
God bless you all and the memory of her madge.
Heres a thought...
It may well have been BHP/NCM that blocked a cashbox raise, but...
Supposing it was Nick, DGR and CGP that blocked a rights issue...?
This would not be surprising if they are looking for a takeover bid... (Brooke MacDonald saying CGP will be sold by the year end...)
Fawzi has shares in the company...
at 100p? it doesnt seem the case but who knows!
Ray:
A discount from this level ?
Jeez, SOLG will be bumped back to AIM at this rate.
Shocking.
Loving the thread heading this morning, as if it's not depressing enough here with the "told you so" brigade lolzzz...
ONWARDS & UPWARDS!!!
Have a good if not humble weekend all, for those who are fans have a respectful weekend in memory of her majesty and speak on Tuesday when I am sure life will start to return to some sort of normality
That is a risk. The question is why wait until the share price has hit these levels? Why not do it together with the pfs at the time? Also, why not do an add-on royalty deal with FN?
One thing I'm sure of is a raise is coming and at a discount.
Lol
‘’ Low volume and big spenders with hands tied is why you have a pretty stationary share price. That's about to change.’
Stationary apart from a 20% drop in 3 months.
If that’s your idea of stationary no wonder you are a bit clueless.
You just sound desperate
So, when is the DFS due again - I thought I heard the end of 2023, but could it really take that long?
Hahahahahaha Fortissimo in-the-know.
What a load of guff.
Just don't be expecting a big special divi with any JV.
I'm never keen on Friday RNS's as normally it's news that needs to be buried - so I don't think you'll get news tomorrow. But news next week very likely imho.
Another indicator worth noting is major shareholders. Normally when SOLG's share price moves as dramatically as 'halving' in value, there is a blackrock holdings rns. All we know based on lack of holdings updates is that Norges and Blackrock are not selling any meaningful shares nor are they buying any.
If you tally up the 'volume' from the 36p slide down to 17p levels today, you'll find it's well short of where it should be. In previous occasions, share price moves (of note) have been backed by stronger than average volume. Look at the totals after SOLG postponed PFS release in 2021 and kicked it into April/May 2022. Many other examples.
Low volume and big spenders with hands tied is why you have a pretty stationary share price. That's about to change.
Jezzoo,
The previous directors you say, not the two largest shareholders wanting dilution?
They want it cheap so being bloody minded and playing hard ball, let’s hope the BOD’s come up with a solution and stick to it, even if they don’t like it, just do what is needed for the company to keep forging ahead
Anyway we shall see soon enough
Blockbuster of an RNS tomorrow morning should sort out all the negativity from the lat few days :))
The greed of previous directors of this company has killed it going forward.
It will be bought out for much less than it could have attained even a few months back.
Hopefully it will be above my buy in, then I can sell my investment and spit on it's memory.
All you need to remember is what Solgold have is wanted, however , the sp is being decimated to allow a low ball offer I believe, when, who knows but it’s been played for months now, BOD’s hopefully will find a good solution to the problem.
We wait and hope
completely agree Fortissimo with all you have said and basically what I was saying the other day and why we are in the position we find ourselves..Franco or Boliden is better for all those that do not want an equity deal and I think there are a number of holders that feel that way
Mr Drake , as much as I appreciate your enthusiastic posting style , you have never even been close to what you think will happen. You're SP targets are fantasy. Yes you could be wrong , you usually are.
It's like reading a fantasy novel with you , it just ain't happening.
You say take out is on the horizon , it just isn't happening.
If we have no takeover interest here now , then what is the future? Other than massive dilution , its looking pretty precarious to me.
For all the guys that were convinced of a deal incoming , it's fair to say you were all way off the mark.
Even RK has stopped topping up ffs.