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“When you talk to people they always ask him about the acquisition angle. But our primary focus is to optimise Cascabel and derisk it. That’s how you build value.”
Couldn't agree more!
Have a lovely relaxing weekend all.
:)
https://www.theaustralian.com.au/business/mining-energy/solgold-expansion-plans-wont-cop-capital-issues-says-darrly-cuzzubbo/news-story/ebec28b759b6d97a2bd31e41cc067326
its a subs deal..........
but here's some interesting info I feel............
SLOG expansion plans won’t cop capital issues, says DC
SolGold boss Darryl Cuzzubbo says the in-demand copper hopeful has enough cash to get through at least the end of the year, playing down the impact of a stalled capital raising effort on the company’s future.
Shares in London-listed SolGold dipped sharply last week amid rumours some of the company’s shareholders had baulked at proposed capital raising, aimed at funding the next round of work at SolGold’s copper project in Ecuador.
Speaking on the sidelines of Kalgoorlie’s annual Diggers and Dealers conference on Wednesday, Mr Cuzzubbo confirmed the company had “tested the market” on a raising, but had not gone ahead amid tension between shareholder groups over the structure.
SolGold has had somewhat a fractious relationship with its two biggest shareholders – BHP & Newcrest Mining, who each control about 13.5 per cent of the company – for much of the last two years after a falling out over the debt-focused funding strategy of former boss Nicholas Mather.
Mr Mather also remains a major shareholder, partly through DGR Global, and the company also has a number of activist funds on its register.
“BHP and Newcrest have a view on how we should be raising capital funding. Other shareholders have a different view on that. And we need to work through what’s best for all typical shareholders. But we have time,” Mr Cuzzubbo said.
Mr Cuzzubbo said SolGold had about $26m in the bank, enough to get the company through until the end of the year, but acknowledged the company would prefer to head to the market sooner rather than later.
SolGold is chasing big copper and gold targets in Ecuador and has been the subject of ongoing takeover speculation after both BHP and Newcrest took substantial equity positions in the company a few years ago.
Mr Cuzzubbo said that, despite the ongoing speculation about potential bids, his focus remained on the development of the company’s Cascabel tenement group.
“I’m not worried about getting funding through the definitive feasibility study. I’ve had multiple calls with investors. I’m not worried about it. And DFS, by the way, and the bankable feasibility study, that then opens up offtake options and funding related to that as well. So you get to that point, it opens up other options,” he said.
“When you talk to people they always ask him about the acquisition angle. But our primary focus is to optimise Cascabel and derisk it. That’s how you build value.”
Last couple of paragraphs are interesting I beleive ;o]
R's
bn.c
You're welcome.
Got an early one, some of us have to stay fit and ready.
:)
Thanks for the heads up will screenshot your request and email Craig myself about your conspiracy.
Cheers now good night.
Before Xmas gla
“No bid this year” ok happy to wait another 4 months or so in the meantime I’ll continue to accumulate as and when long and strong tinyray speak Monday have a nervy weekend buddy lolzzz
Plus quady..
My last post here till Monday - there will be absolutely no bid here for solg this year, there's no other board like this on lse where you have a complete lunatic hell bent on gaslighting the entire board. Mark those words. And bozi and Sean and myself will ultimately be proven right.
Confident of that.
BTW zorro it was downhill for the poster named slug once he tried it with me.. that was slug gone!
Night all.
Fortissimo
I couldn't really care less where the stock is right now. I'm more concerned about where it might be in the next month, 3 months and possibly 6 months.
Norges and Blackrock increased weeks ago. Now underwater. Let's see if they carry on buying shall we. See how much longer they're willing to support this company.
Any comment for Berry Street? Thought not.
You carry on with your glass overflowing. You're conning the gullible and that isn't really on.
Well said Zoros he's going.
Here we go again.
Before you go slug - think on this: you have been reduced to the periphery of public forums, having lost all your integrity. You aren't on here long enough to air your views any more. You simply make noise.
How sad is that in your life.
A failure, through and through.
Night all.
Z
Z
Fortissimo
I think if you were on the Titanic as it was going down, you would see some huge upside to it.
Maybe not a bad quality to have lol.
Would not surprise me in the least, if the board argues all weekend about whether Warren is happy or not.
Personally I heard he was happy as Larry!
Bozi,
Norges buying, Blackrock buying, Irwin quiet, Mather DGA options taken up, and the sp looking fairly solid for a few days after the retrace from 27p/28p pre funding 'test'.
What's wrong with them all?? What on earth is going on? Can't they see what you see? Can't they see the dire straits that SOLG are in?? All complete amateurs... they just don't get it do they Bozi... or have you ever thought that it might be you that doesn't get it?
As for Irwin, Mather and the bulk of us shareholders, I doubt anyone is 'happy' right this minute. Not even BHP and NCM. So something has to give.
Has anyone got Warren on record lately? Do we know he's happy?
It's just everyone seems to be saying it.
Evening BNC…. I think he’s happy …. He has a lifelong habit of letting people know when he isn’t
Quady
I dont believe WI is in the slightest bit "happy" just think he's busy with ousting Trudeau as seems to have more beef with him these days........lols
R's
BN.c
Greetings from the sunny Lakes.
Tks for the offer Bubbles, but it's staying on.
Keep the faith Solgers.
IN MATHER WE TRUST ...FACT
Why is Irwin happy ?
What fits all the facts ?
Solgold proceed to production and at some point CGP need to pay their share.
Now the previous threat to CGP was that Solgold could use their share of ENSA. ( being the main holder )
And CGP couldn't .
Just maybe 100% of ENSA will be used as security, so CGP would be happy whatever happens.
Just a thought.
“Throw in Irwin being quiet as a mouse and you know something is cooking that he's clearly happy to sit back and watch unfold”
Anyone invested here for any length of time knows this to be 100% out of character…. He’s a mathematician and a good one
Fortissimo…. We are clearly reading off the same page …. Not long now
DBW, spot on. When feathers are ruffled, toys out of the pram events happen like when SOLG did the Franco deal. NCM acted like a spilt kid not getting the 99 flake they wanted. It was embarrassing to see them squirm. BHP then went onto to try and undermine the SOLG board and persuade some to go up for election. Our Chairman had to go public to give them a telling off. All this action, tantrums, call it what you like is symptomatic of frustration and loss of control. So here we are this time around and we have little mention of SOLG by NCM or BHP and no apparent public tantrums .... yet!
Throw in Irwin being quiet as a mouse and you know something is cooking that he's clearly happy to sit back and watch unfold.
Wouldn't be wonderful if we follow the Noront takeover but in pence and not cents.
1. Noront trading like it's unwanted and out of its depth. SP 23 cents.
2. Next day, BHP drop 55cent offer
3. Wyloo (major shareholder in Noront was having none of it.
4. BHP forced to up bid to 75 cents.
5. Wyloo knock BHP out of the park with winning 110 cent bid.
I'd be happy with that scenario on SOLG but in pence of course.
( )( ) + ( )( )
Is this what ur referring to ;o]]]
r's
bn.c