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Sharketmare,
"But then again, why would they sit around as a minority shareholder invested in a project that SOLG keeps selling off to smelters?" END.
At last the penny seems to be dropping with you. I think you've answered your own question... if NCM and BHP have already shown that they are against stream deals (even for 1%) then how are they going to react when SOLG turn around and say Franco are doing $1bln for a 10% royalty. Boliden are doing $1bln for a 10% royalty etc etc etc. Seriously.... can't you see what lies ahead? It's not about the funding now... it's about the SOLG plan A which it to fund Alpala through various financial structures and tools.... all of which we know will pi55 off BHP and NCM. So yes... why are they still hanging about then? Perhaps it's because the reason they bought into SOLG in the first place remains the reason why they are holders now. They want the assets and they want them as cheap as possible. Majors do this by restricting the funding to these companies. They then offset the dilution story to investors with an early bid offer deal. That's how it works.
Addicknt if a fund raise was attempted, can you post the initial statement and it's terms.
SharketMare when we raise funds in the near future you will see the process. There will be an announcement, those invited will be asked to participate and it will be announced what the take up was.
We had discussions with our major shareholders. The reason we know no raise was attempted was we didn't even get the initial announcement. People are just trying to make a non story into something it's not.
Replace the name ColonelDrake with Quady and it's on the money.
"Bozi take no notice of ColonelDrake, he has constantly been wrong on everything about Solgold. He is always saying we will get a buyout and expressing some convoluted reason why.
He always turns out to be wrong.
The sad thing is he has no idea why he is consistently wrong."
You couldn't make it up.
Sharket .... it's ironic because with everything so clouded in mystery, the one thing they have been open and clear about is that we went to the market with a proposal to raise funds and it failed ..... simple as that
Quady, I thought I'd comprehensively proved that your "no fund raise attempt" was nonsense the other day. It appears you may not have understood the facts I produced.
Bozi, BHP have stakes in loads of companies. But do you see them trying underhand tactics at BoD level? Do you see the chairman of these companies having to go public? Do you see them bossing the companies around?
Funding is not a problem at all. Never has been. Aligning big, medium and smaller investors needs is the hard bit. That's the problem.
Go find me another Tier 1 asset out there that is comparable to Alpala and isn't in a super majors hands.
Your attempt to suggest that SOLG is among many other options for majors out there is yet again ridiculous negativity. Of course there will be new discoveries coming up but they'll take 10 years+ before they are derisked to the level of Alpala.
Top ten discoveries in the world.
You seem hellbent on trying to put SOLG down? It's becoming a bit embarrassing and your attempts weaker each time.
BBG Agree with you re BHP .... not sure about NCM and not sure their stances are as aligned as they once were.
Can't see this getting as far as the AGM
Fort, that's a very fair point, and it might be a case of short term pain for long term gain. I don't think the company can make meaningful progress with NCM, BHP and Mather/DGR/CGP all pulling in different directions. I think the market and the Ecuadorian government would see it as quite the shock were our biggest shareholder to pull out of the project. But then again, why would they sit around as a minority shareholder invested in a project that SOLG keeps selling off to smelters?
It does feel quite '**** or bust' at this point.
Quady, I think you are the only person on here who doesn't accept that we failed to raise funds. The idea that anything is going 'smoothly' at this point is risible.
Hahaha BHP and NCM selling up????? Are you joking!???
They wouldn’t sell a share for min 200p
Twiggy should make a public offer for their holdings. We’ll quickly see the colour of their eyes
Fort, I've supported this company more than anyone.
When they started announcing pushbacks to the PFS I defended this company whilst many were losing their heads all around us.
I've long been a very vocal supporter of this company both here and elsewhere.
However, I do think they've mis-stepped quite drastically on the treasury and hearing news that all the major players can't agree on a funding solution has to be a concern for any shareholder.
The asset itself is good. However, competition is rapidly emerging from Filo Del Sol in Argentina. BHP also have a stake in the business that controls that. So it's fair to say we're not the only target for them at a pre-development point in the cycle. The whole "we're the only ones who have what the majors want" is no longer true I'm afraid. We have credible competition.
Just to close because I really don't want a protracted tussle - we are after all both on the same side.
What in your view happens to SOLGs stock price if they have resolved the treasury issue by 1 Nov?
"we run the risk of BHP/NCM selling up and shopping elsewhere." END
And what's the problem with that then? Sharketmare? Do you think we need BHP and NCM? Do you not think there's someone out there ready to snap up their stakes??
Do you think NCM and BHP are helping our cause? If we could get rid of them, then it would be great news. Barrick, Rio, Lundin and many others would be well happy with a near 30% stake in SOLG/ENSA for about £150m. Franco stumped up $100m for just 1% royalty.
Oh dear SharketMare, they didn't fail to raise, as no raise was announced. I really thought we put this to bed. As Bozi says expect a raise in the next few weeks maybe months. You will see it goes smoothly. Dare say it will be equity, but how much is the interesting part.
Correct rcgl2.
That's the multi dimensional thinking that one should have about all their investments.
Not the "ahhh I hold stock in..... so must talk it to the moon until I sell" patter that Fort thinks we should all be up to.
ColonelDrake what are you on about NCM and BHP are not trying to push us into a corner.
They aren't doing anything.
This is how a market works. Our share price is suffering because of low volume. Everyone is just waiting to hear the next piece of news.
Look at the wider market. Are you telling me BHP and NCM are manipulating that as well.
Hi Quady, yes at present they are not selling up. But if we flog off more of our crown jewels and decrease the probability of the project, they may well say the risk/reward simply isn't worth it.
I'd also question the idea that SOLG is running the show, given our CEO just failed to raise capital in his preferred way, because of interventions by our two major shareholders.
Bozi,
I've proven to be tough critic of SOLG in the past. But it's clear we are under attack from BHP and NCM who are trying to push us into a difficult corner. If you are investor, now is not the time to be giving support to BHP and NCM and giving your company away on the cheap. Now is the time to defend it, be positive and yes balanced views welcome but your one liner... I know of no reason to buy SOLG now (word to effect of) is just the usual type of negativity from you of late. There will and is always a solid reason for buying into SOLG whether at 20p or 40p and that's because the assets are candy to a super major and they all have sweet tooth.
Support your company as your negativity is just helping the likes of BHP and NCM.
It's a shade under my average right now. I'm not buying any more because Solg is already an outsize position for me and its ups and downs are causing quite a lot of volatility to my total portfolio. So not gonna YOLO another £20k into this here. That doesn't mean I'm not still expecting a decent return on my investment. I'm not selling any.
SharketMare, I don't see NCM or BHP selling up. I believe they both want a bigger percentage.
Although a year old story, NCM have said they are not selling their stake and want to add more. BHP haven't stated their position directly. But they would like more.
I know you don't credit the diverse book. But we are seeing it in action, as Solgold are running the show. Not NCM or BHP. And to my mind we have NM to thank for that.
Novice - we're discussing SOLG as it happens.
It's much more constructive than your "onwards and upwards 55p by Friday" bull that we all truly got sick of hearing about 3 years ago.
Bozi take no notice of ColonelDrake, he has constantly been wrong on everything about Solgold. He is always saying we will get a buyout and expressing some convoluted reason why.
He always turns out to be wrong.
The sad thing is he has no idea why he is consistently wrong.
You're the one hopping around this morning Fort. I posted my view and you jumped all over it, yet its you that is rustling feathers.
I'm pleased to see us up on the day.
Calm down, have a coffee, a beer or whatever it is you drink and enjoy what is left of summer.
Fort, the only person who is coming across as having their feathers ruffled is you mate.
Agree with the posts above from Bozi. We need to raise funds to ensure the two bits of arse-saving news Darryl wants to put out actually have a chance of catalyzing the share price.
Quady, I think if we sell off more off the profits from our project we run the risk of BHP/NCM selling up and shopping elsewhere. I imagine that would be pretty catastrophic for our share price.
Fort - I'm not saying you wouldn't buy SOLG stock. I'm saying I wouldn't buy it here.
That's just my own personal opinion. There's no saying just yet if it's right or wrong.
Norges bought the stock before the recent news came to light. I'm sure if you asked their investment team they'd have rued those biggish trades about 40% higher up.
Anyway, I mean no ill will and I'm not looking for an argument. I just wish you'd show some ability to deal with nuance. You were an investment banker after all so you know more than most how all these things work. You just seem unwilling to deviate from the uber pro SOLG standpoint because you hold stock, when the reality is we all do.
"However, the difference between me and you is I post with honesty and objectivity, adjusting my viewpoint as events play out.END"
No you don't booze, you post according to your trades.
Your last negative post was pathetic. You don't know of any reason why someone would want to buy SOLG today?? What kind of statement is that? It dismisses the fact that we are dirt cheap, M&A activity is rising and we are in a current situation which is prime time for bids and offers.
Give up with the honesty rubbish, it's ridiculous. No 'honest' investor would just dismiss the main reason for buying into SOLG like it doesn't exist. You're about as genuine as an EBAY Rolex.