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As I said a week ago or so, I don't mind BHP or NCM being against royalty deals. What I am against, is that they make that an issue but do not back it up with an alternative solution nor do they state their forward interest in Alpala or SOLG! Of course most can join the dots and read between the lines but that's besides the point. If BHP and NCM objects to royalty deals and prefers equity dilution, then they will surely also object to Franco doing $1bln finance and so on. So how exactly do BHP and NCM think SOLG should finance Alpala because it's very obvious that it cannot be done with equity raises alone.
This is why it's just a childish game and BHP and NCM (or one of them) has to stop trying to control SOLG's finance options and the direction of the business. If they continue to do so then it could be seen as a form of coercion and unduly using their position to influence a lower price Take over.
Twigger called them to account and yet here we are still apparently being bossed around by large shareholders.
So come on Henry... or Tiswas...(sic)... about time you enlightened the market on how you see ENSA progressing and being financed. If you can't put forward your ideas, then shut up and leave SOLG to get on with the business.
Someone at SOLG or Citigroup needs to show some mettle. Just tell these two to F off! Get a deal signed with boliden and off go.
The royalty deal of 1% does have an option for 0.5% to be bought back so it's nothing in grand scheme of things for BHP or NCM. And it's way way better than what could be 20% share dilution at 20p levels.
Can anyone explain how BHP and Newcrest Mining have power to influence decision making of Board when they have no representatives on the SOLG Board of directors! Cornerstone has one while Newcrest withdrew their's a year or so back. So all this conjecture that BHP and NCM has adversely caused such and such to happen resulting in our current situation seems a little confusing. Whereas Mather and his fellow cronies, all chosen while he had great influence and still has including selecting Cuzzubbo, is/are the real culprit/s which sees SOLG in this unbelievable situation we find ourselves in. Yes, BHP and NCM, and for that matter Cornerstone, have voiced their concerns about how SOLG has been run by Mather and his cohorts. As we enter what will be probably a significant long term world recession, if not depression, this is the path that our current Board, and especially Mather, has lead us into. All the while he has looked after himself in huge pays, bonuses, allocations of options, million dollars company loans and entitlements. And all while he has been working in a part time capacity........reaping off additional money from the other part time board roles he is supreme controller of, e.g., DGR and it'd other daughter subsidiary companies. Apart from day traders there will not be many long term holders making anything from their investments. Remember at the time SOLG was first formed it's shares were listed at 50p. Mather saw that value drop down to 2p and guess who bought big then.
Eish, couldn't agree more.
It is September next week & we appear to have enough cash until the end of the year. Drilling has almost dried up to conserve cash.
Something has got to give in the next 2 months. We will need to raise some cash from whatever source we can, and if BHP/NM are determined to frustrate some of those efforts, it will make it even more difficult for SOLG. Not sure how this will play out but BHP need to be careful that the Chinese or another third party don’t come in and spoil their best laid plans.
But then Addicknt, if they are so opposed to that form of financing, then put in a decent offer and stop p----ing about?
snowman, that's my understanding as well. It explains why BHP/NCM were so opposed to the Franco deal and objected to a repeat. A business can't keep throwing away percentages of revenue.
I was pondering over the difference between an equity raise and a royalty deal as with Franco Nevada. In Alpala's PFS a 3% government royalty was assumed. And I was thinking that adding to the total of currently 4% royalty (3% government and 1% FN) would make Alpala less attractive for potential buyers of the project.
But then I was reading on Solgold's own website the government royalty might be between 5-8% !!! It states: "In addition to the taxes outlined above, the holder of the licence must pay to the State a royalty of no less than 5% of the value of all sales and no more than 8% for the sale of gold, silver and copper (large-scale mining)."
source: https://www.solgold.com.au/ecuador/
Does anyone have more clarity regarding this or is the assumption of 3% government royalty not valid anymore?
evening all. topping up at this ridiculous price
gla
dk
You must be a billionaire looking for points of a penny. Very sad.
Don't get me wrong, a rise is always good, but I was looking forward to adding at this price.
55p will do for starters Bubble !!!
Oh yea of little faith ;))
Great day for SOLG and miners generally with gold up copper UP nicely...
We're BACK baby!
59p by Friday novice lol!!:(:)
That's an interesting jump ;))
Copper price spiking up today...
UP UP UP she goes...
Sorry meant Rio not NCM of course
dave
likely a techncial bounce from 20p support
[pointed this out several times last few days]
r's
bn.c
BHP / NCM bounced exactly the same time …
Maybe an announcement is due soon and info has leaked, up over 4%...?
Mother of all bounces ! Okay, a good start nonetheless!
ATB
Tesla = harmless fool ;))
"corrupt country, politically unstable, drug cartel..."
Tesla1... are you talking about the USA?
If referring to SOLG, could you explain to me why one of the worlds leading companies in Franco Nevada would chuck $100m into SOLG? Why would they do that. It's a royalty deal, so they only get paid if it goes to production. Explain please. Also, kindly explain why all the super majors are currently putting a lot of time and interest into Ecuador? Barrick, Rio... they are all there.
I can't wait for your answers.
Sean
Hope you’re right …. Added modestly this morning.
I’m certain NM / Irwin have a plan and they will have to show their hand at some point ….. just need to hope it’s not a bluff