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This will close in the 17's today and fully expect some kind of RNS comms Tmrw morning !!!
Very good news hopefully 55p by end of the week !!! ; ))
Next RNS will probably be a resignation RNS from Darryl lol!
Someone at SOLG towers needs to steady the ship and show some leadership.
That said... some pretty hefty selling going on across miners, gold and copper holders.
One would like to think so.
This is unprecedented.
Correct SharketMare they were ready to do a fundraise but after discussion they abandoned it.
So no fundraise took place.
I would take anything that Biswas says with a pinch of salt, he is very shrewd and I doubt he is the type to be open about his intentions. I think Solgold is in play and will get bought out by one of the majors. Solgold has a massive exploration portfolio in Ecuador including Cascabel, one of the largest undeveloped copper/gold mines in the world. Solgold also owns the adjacent land (Helipuerto) next to Solaris' Warintza discovery which is a huge near surface discovery amenable to a super pit. That was overlooked when announced last month, but it is definitely on the radar of Rio and BHP. Ecuador has the largest untapped copper reserves in the world and Solgold, a big chunk of that.
Surely the company should be issueing some kind of reassurance to shareholders to address the price fall. I hold a lot and must confess I'm getting worried
Zoros, Berenberg and Barclays were actively working on the fundraise, as per a separate article I posted on here. So it went beyond internal discussions. If you want an accurate and eloquent summary of the situation, read rcgl's post at 12.43 today on the 'Enormous UT' thread, with which I wholeheartedly agree.
I picked the wrong week to give up sniffing glue
Please can you refrain from buying…. It seems it always drops after you top up
You got some tick ups david, well done.
See you when the rns arrives.
Sharketmare - then it's down to semantics then, yes?
There was a move to raise funds, the activity was internal (within the company), internal shareholders didn't approve of the process in which funds might be raised - fund raising activity was therefore halted.
No external formal public attempt was made to raise funds? Correct?
Z
He's only comes here to make trouble, he's a wind up merchant.
If this goes back over 20p he'll be saying he bought a million quids worth at 18.02p.
But only after it peaks and falls back.
He's Capt Hindsight's mentor.
And he's started another argument it appears.
Over here Medar, I'll have yours for 17p then !!!
MassiveRay
Why do you need to behave like some school monitor advertising the fact that you have reported someone.
On the topic of abuse which you seem to be so against, would you like me to remind you of some of your own abusive remarks to other posters. Won’t be so nice when the boot is on the other foot will it?
Have you been hiding under a rock lunch? Are you not aware of his 24/7 trolling of other boards?
8% down. Difficult to keep the faith.
Oh dear, nothing like a good old price plunge to awaken the bedwetters and told you so merchants lolzzz...
I expect this BB to descend into anarchy playing into the troublemakers hands ; ))
Only going one way here, some very lucky punters scooping up very good value stock atm
ONWARDS & UPWARDS!!!
Adding you too zoo to the filter bin as you don't contribute anything.
Green boxes = trouble maker.
Must be UndersizedDab.
Sharket, there's no need for the abuse of quady, let's not forget you haven't been right yourself here.
And reported.
Zoros, it's not even up for debate, unless you think Sandeep Biswas is a liar:
Quoted from here: https://www.afr.com/companies/mining/cagey-newcrest-baulks-at-havieron-gold-price-tag-20220819-p5bb5b
“At that time there was also a public announcement by the company that that was a one-off and that future raisings would be more along the lines of allowing existing shareholders to be part of the fundraising activity in relation to an equity raise,” he said.
But Mr Biswas said SolGold had again sought to raise funds through methods other than share issuance over the past month.
’They chose not to do that, they went back to what happened last year and we...did not support that proposal,” he said."
What is up for debate is whether this was a cashbox or streaming/royalty deal, but given the fact he says "one off" (which is how the cashbox was described at the time) most on here think it's the former.
I don't know how much clearer it can be. We sought to raise funds. We did not raise funds. We failed to raise funds because the proposal didn't get past our major shareholders.
Hence the SP taking an absolute pasting ever since.
If you want to believe the local halfwit here by all means do, but there is a mountain of evidence that indicates he is, once again, wrong.
The truth always comes out in the end.
Zoros, why don't you contact Berry Street and ask them?
In the meantime, and despite the fact that over the past few days buys have exceeded sells by some margin, the market continues to hammer us for having failed to raise new funds.
Btw, I agree with Quadys last sentence, but it ain't gonna be pretty.
how low will it go?
Well guess that depends on how Darryl decides to deal with it. Market clearly showing Darryl that he doesn't have all the time in the world.
Valuestone bought a chunk at 32p. Norges bought huge amounts around 27p to 35p and Blackrock recently bought decent wedge in the high 30's. Guess they all didn't realise that the market knows better??
Looks like a little squeeze on some CFD players today. Ouch... it will hurt. In theory, if NCM and BHP or Blackrock really wanted to... they could take this as low as they want - buyers just don't seem interested and that's all down to Darryl I'm afraid. He's failed to communicated the funding requirements and it's a big unknown. Short term funding through to PFS2 and Porvenir PEA we all know about it... but market wants to know what's happening with funding through to DFS.
I can answer that Zoros. It would be none of them.
Plus they would ridicule me for getting it right.
I believe we will get a fund raise in the next few weeks and we won't have any issues.