George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Bozi, many of these super majors are already active in Ecuador. Your dismissive view of the super majors interest in Ecuador suggests to me yet again you are looking to be negative rather than positive. WHY??
As reported recently, Lasso and Barrick had a cosy meeting.
Super majors will have interests all over the globe. And as for your comments on NCM... Havieron is peanuts to them. $300m spend isn't it? Hardly preoccupied ...for a multi billion dollar company.
Your negativity is giving you away I'm afraid. You seem to ignore all the news out there. Go do some googling and see who's already in Ecuador and ask yourself why?
I can't comment on the individual merits, many indeed boasting great track records, but it's clear the current lot have been in place long enough for any good they might have done and the cupboard is now bare. We seemed to have sleepwalked to where we are now which is incredible given the energy and sure sense of direction Solg showed as a young company. Sad times.
Really everyone nothing has changed, if we stop talking rubbish about a bid, we can have a better educated conversation about the future of Solgold and it's direction.
After all if we cannot do this ourselves, then no one will bid, as they will just wait till we fail and pick us up for pennies.
Haha Fort....
Remember when I laid out my rationale for reducing my stake that I reiterated my firm conviction that Solgold will be taken over....its only a matter of time.
I have also said that there is a risk I might miss out and I genuinely wish the very best to all of my fellow travellers on here if they finally get their due rewards for patience...
But no...we still have only 300,000 shares, which has at the current price saved me losses of c£16,000...
I continue to research and watch and will post something immediately after this that clarifies my current thinking.
Keep up your objective posting mate.
Addicknt, look on the bright side... it's only 4 months to the AGM and I don't think there's one director on the SOLG board that will feel comfortable about that. All likely to be booted. Of course that doesn't solve much and likely hands the keys over to BHP and NCM who can appoint directors of their own.
So it's going to be a very interesting 4 to 5 months here that's for sure.
I am the only one who has no confidence in the BOD, I wonder how many are on a luxury holiday while the share price tanks. I hope the next RNS will benefit the shareholders.
Fortissimo - I'm willing to argue that 55c does not represent a 200% premium of the previous day's close of 25c.
Not sure whose school of Maths you attended.
Noront is Noront. It's not SolGold. With Noront, BHP emerged as a third party and Wyloo were already a significant shareholder in the company with power to fight off the competition.
Who is going to emerge and play BHPs role for SolGold? Barrick have their copper gold project in ****stan, NCM are preoccupied with Havieron and Red Chris, Anglo have seemingly chosen Africa as their next copper frontier. Rio? Not sure given the turmoil they've been going through.
It's OK saying all these majors are cashed up following a period of buoyant prices but they all seem to be focusing their efforts elsewhere and that concerns me.
Tragic that we can be talking about a low ball bid of 50p in 2022 when scoffed at it in 2017 when 50p was worth a good deal more in real terms.
But we are not sinking. Just rudderless and becalmed with a BoD who are bereft of any realistic plan that anyone except Quady takes seriously.
Cheers RK, could always do with good luck, but with longer term in mind I think luck will be just a bonus.....:)
ATB to you as well.
Has someone hacked your LSE account red knight or have you bought back your 500k this morning? You're like a born again SOLGer
Good luck Max
Bought my trading pot back this morning, seems like the latest retrace gone far enough....(although could even go lower with the latest political unrest....) still,not a bad opportunity IMHO.
GLA.
Ask yourself a serious question....
Why would a 'low ball' offer of 40/50p be recommended...?
Is this the sequitur to some people's assumption that Darryl is a BHP stooge?
How on earth do you think that the Solgold Board or even its key investors would allow that to happen.
I suppose someone will say that BHP and Newcrest would work in partnership but...
The Board of Directors know that Solgold is worth very much more than 40p and, with Citicorp lined up for bid defence, would rightly expect that my own prediction of an auction would come to pass...
I understand that there is nothing happening; that we've just had a failed equity raise and that may well have increased the chances of a takeover bid or bids, but lets keep our collective rational sense together please...
I still see the minimum final bid for Solgold as between £1/2, depending on circumstances at the time...
Bozi, £1 would fair. I suspect Noront shareholders thought the same when BHP dropped a 55cent offer in which was at a 200% premium t the 25cent previous day closing price. A bid war delivered 110 cents. BHP lost out. These are the facts. So whilst I say low ball offers, I do not mean 'accepted offers' or winning bids. It's the starting point. Then we'll see just how popular SOLG's Ecuador folio is amongst Rio, Barrick or Anglo. I genuinely believe BHP are worried about this becoming an auction or bid war stock. It's in their interests to try and work with SOLG so that SOLG get to PFS2 or even DFS and then there's a chance they can discuss taking ENSA on but leaving SOLG to continue the rest of the folio. And just for the record, I think 'we' and others should be careful of using the word 'struggle' when referring to the recent finance discussions. SOLG are not struggling if for instance they pre agree a deal and someone like BHP decides to pull out at last minute. That's not struggling... that's skullduggery to make one look like it's struggling. So lets keep an open mind and assume that there are numerous finance options and that the recent one failed due to some parties deciding it was not ideal for them. Who knows the finer details? Was there a lock in agreement thrown in at last minute that some didn't like? Was there another stream element? Was Norges offered a greater chunk? Was a new investors invited to join like Barrick? Lots of scenarios and unsurprising that games and underhand tactics are in play. It's the end game. It's business.
I've seen many companies issue announcements that have served no purpose whatsoever other than to torpedo the share price.
With this in mind I'd like to nominate our esteemed management team for the 2022 Golden Clanger award.
A board of directors has one overwhelming responsibility; to create shareholder value. This lot are in the process of doing the exact opposite. If any of the more influential shareholders are reading this, please requisition an EGM with the intention of replacing this lot with people who actually know what they're doing. Or, table a motion to force them into doing what we all know is the right thing. You'd have my support.
No one objects to Mavis's comments on solg. I even ticked one up that they almost verbatim copied from one of my previous posts.
Freedom of speech does not extend to unchallenged bibotry, bullying and misogyny.
Fortissimo
I don't see a low-ball recommended offer in the region of 40-50p as a win. That puts us at £1bn and frankly I think you could argue the company was worth that 3 or 4 years ago at the point of announcing MRE2 and MRE3. That result therefore represents a significant period of wasted time and also reflects zero value for Porvenir or the other high priority licence areas.
I don't really see how this year's funding differs from last year's or the year befores. Everyone knows that SOLG is chasing a prospective regional portfolio and is working to bring Cascabel to FID status. I can't see how this black hole you reference has appeared.
The other, and potential worrisome point is that if we're struggling to do a raise to finish the DFS and get back out on the ground at Helipuerto, how can we expect anyone to buy the company? As I said to CarSalesperson, we're not the only company that can offer a copper gold porphyry discovery and so the majors looking to top up their inventory do have a choice of meal.
There's zero chance of a JV at Cascabel. Why would a major buy a stake and then have to work with two cash strapped juniors? The only way they'd be able to do it would be sign a similar deal with SOLG that we signed with CGP, and I'm not sure that really works for anyone because what it does do is pushes out the takeover and brings into play the production story and timeframe, albeit maybe a slightly accelerated one.
I also think you're wide of the mark re Boliden. The likes of them, Norges and others have clearly been woo'd with Alpala construction financing in mind and even were we to get them to sign an MOU I suspect BHP would call the bluff.
At the end of the day Fortissimo, us clowns are talking about this so you can bet your bottom dollar that the likes of BHPs investment team have done this to death.
I do still think you are overestimating one of the outcomes. I have little faith that as investors we can defend a low ball bid. This is based on some of the meeting voting we have witnessed in recent years.
my lousy TA skills tell me that we could be going as low as 22p but that we should bounce nicely from there. Time to top up, take some time off from the markets and check again in september. At least that's what I am doing.
GLA
another penny off the SP
I see the membership commitee rejected Carsalesperson's application to join the board, ahhh, democracy in motion.
It's a beautiful thing. You must all be very proud of your defence of free speech.
Agree, but still a chance that they might raise funds for PFS2 and regionals via strategic partners like Boliden or Solaris or Lundin JV deal etc. So that's the obvious route when the share price and equity raise looks too dilutive. But TOYS WILL BE OUT OF THE PRAM again from BHP and NCM. Well tough! What would be worse is if they do an equity raise with BHP et all and then get BHP to agree to a 12month lock in! That would be terrible.
why Solg doesn't seem to do exactly that: creating competition for the assets?
ColonelDrake hasn't a clue on funding, what has funding the construction of Alpala got to do with funding the DFS and the BFS. Clueless doesn't do it justice.
One you raise via a capital program with minimal dilution, the other is through some dilution.
He doesn't realize that if we can't go it alone, then everything else he has said is rubbish, as we have no negotiation
Bozi, I'm only positive and bullish simply because I believe it's win win now. We've all taked about the end game. We've talked about PFS coming. What's next? It's the end game. It was always going to happen like this as the line that SOLG were and have been taking is one that says they can fund Alpala to production yet here we are and they 'apparently' can't even fund it through to DFS or even worse... PFS2. Surely you can see the implications in this? Confidence goes out of the window on the 'we are taking it to production line' and only a complete t wot like Quady believes it.
As I said a week ago. The reason why this particular level of funding is harder than ever before is because those doing the funding (lets leave NCM and BHP out of it for moment) are worried that they are bunging cash into a black hole. What happens if you invest in equity (eg get shares) in a company that then goes on to do an even higher capital raise to deliver production. No one wants to get involved on that basis. So SOLG need to see in a realistic story. One that involves JV's or asset sales etc. That's the only way that some will invest based on the end goal of boosting PFS, regionals and the end price. It's all good from here because imho it involves monetisation in various forms. Low ball starts at 40p+ imho. Anything lower and Blackrock, Norges and the bulk of investors will say fff off. The only way SOLG can keep the story line going is to prove the interest of others outside of BHP and NCM. Get Franco and Boliden to declare an interest in funding $1bln each and so on. Show everyone that SOLG can do it. On that basis, you'd think $100m or so would be a doddle. It may well be, but BHP and NCM don't like the Franco deal and most certainly would hate the Boliden deal. And that's the dilemma here. BHP and NCM will no doubt be happy to see SOLG produce PFS2, as it could or might likely mean they end up with a nice 17% each instead of 13.6% each. Anything they can get sub 30p is a bonus is it not.
I'm bullish because I can't see how SOLG can escape the inevitable bid or asset monetisation deals. That's what I am here for. Not to see SOLG take Alpala to production in 2029. I'm here to see SOLG sold and the sooner the better, but after PFS2 would be best case scenario. So how do we get to that point? See the hurdles and snakes and ladders in the way?
Thank you Bozi
Depends how I'm feeling day to day Monte.
On a good day I still appreciate what we have and hope we're going to draw our a number of suitors who will battle it out for the assets.
On a less good day I worry that the SOLG board has backed them and us into a corner by not getting the raise done when the market was stronger. We I've also been worried since the day Nick was usurped in 2020 that BHP would play the long game and then get shirty before having a clear run at a low ball price. I do think BHP can let this business meander in to another AGM as SharketMare said before and I can't see that ending well for us or the board.
I applaud those who are taking a positive line and hope they will be proved right.