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Monte,
Things are not always what they seem. I don't take offence by opinions of other posters. Not at all. I'm happy to reposte negativity which I feel is unbalanced or out of context etc. You see, we need black to have white and vice versa. Two to tango. I'm not sure what you want? I do value some posters answers but not all. They don't have to be negative or positive just relevant and in context.
Now... over to your trades. I'm sure you'll admit that not all your trades have been a blinding success. And selling into spikes does not always go to plan. But timelines can help with that. For instance, remember when Fruitbat sold 700k at 27p a while back only then to sit and watch the sp go to 35p+. That must have hurt. We don't know whether he chased it after then or what he did. But over time, what we know now is that his 27p sell looks mighty smart with the sp at 21p today. So be careful with encouraging others. Not all are so lucky. Many (you included I'm sure) will have sold some at 22p (or whatever) only then to see them go to 32p. If they return to 20p is that a 2p gain over time or a 10p gain missed? See, it's all about context.
Fort
You seem to take offence if anyone explores your opinion. You get very defensive.
You should value the counter offer if you really do value the debate.
I encourage people not to buy on spikes, and acculate any tops ups they might want on dips. That's sounds obvious to most, but you will be surprised how many still don't have the discipline to do it. That's not boasting about my trades That's trying to help people.
Monte,
It's a free BB. Everyone has an opinion. The point of debate is and where we often find out more info (for all to share' is when those opinions are tested and explored.
Would be a boring place if were all just posted one liners and never got to the bottom of them or explored them in more detail. That said, there are few that don't need exploring at all.
Thanks for all the advice Monte. How's your trading going of late... timed any buys or sells well?
rcgl, if BHP buy Solg or Alpala alone, they will repay Franco asap. They have no use for their money and most certainly don't want to give up revenue.
Fort
You are a good poster, but perhaps try to let others have an opinion too and try not to take that opinion as a personal affront to your good self.
However, Franco's royalties only pay off fully if the mine actually gets built and starts producing at a decent capacity. Given that the consensus view seems to be that Solg doesn't have the skills or experience to deliver the fully functional, max output Cascabel mine any time soon, is it in FNV's interest to offer enough funding to Solg that they force the majors out and end up building it themselves?
The CEO of FNV was interviewed about the Alpala royalty at the time and the interviewer asked him about it being a complex and risky block cave mine. He said something along the lines of "we're not worried about that, Newcrest are on the register."
All parties are trying to balance their own needs against the needs of the others. What suits FNV the most is probably to get Alpala into the hands of BHP and NCM as quickly as possible so they can get their royalty as quickly as possible. They don't want to push too far and leave Solg holding the baby alone.
" I think there is pain to come in the short term though"
The share price has fallen from 35p to 19p in a short time. And you think there's more pain to come? Thanks for being a bit more candid though. I trust you have positioned your yourself (reduced holdings, sold a chunk etc) that reflects your thoughts and vision? Certainly explains a lot about your posting of late. No problem with that at all. Much prefer to know where we stand with some posters as explains the negative views more.
There are always risk ahead, but I think the lower the sp goes the more likely a bid comes in. I base that two proven examples of late in M&A with Oz minerals and Turquoise hill, both have fallen to lows yet suddenly attracted bids.
mmm... I didn't think you'd want to discuss that one much.
I posted the following on another share chat board but felt it could be relevant here to as I hold some SOLG, especially with our increasing resource and production potential? or new discoveries post Cascabel sale??....."Yes indeed, Gold(and related Gold shares?) will re-rate with the "coiled spring effect in time.....when confidence in currencies fails and people rush (even 2% of the population rushing to acquire 5 ounces AU would lite it up for sure) to hold something real (other than collapsing house prices and unaffordable variable 20% interest rate mortgages)..Perhaps 85% of US population are on fixed rates...but in the UK we're variable rate and any short term fixes will be variable 20% interest soon.....How many on £3k per month or less take home will be able to afford their £100k mortgage at £2,500 a month? and their £500 p/m electric.
Something's going to give and in the rush for something real in one's hand as their fire insurance....then that's when the price of gold/currency will become those extreme figures, which still look far fetched?? not so much now eh?
The amount of ounces you have will be all important....as history shows from buried hoarded treasure....history repeating/rhyming again?
Do not be concerned about daily/monthly fluctuations on the paper gold price that is set for the miniscule physical PM market (in comparison)....Some say Russia and China have nigh on 60,000 tonnes or about 12 times or more than what they officially disclose....there is a reason for that....and also a reason for increasing premiums we must pay on any PM physical purchases. You should at least certificate some of yourSOLG holdings..... I have ! GLA. "
Addicknt no fund raise took place a discussion took place.
A discussion is not a fund raise.
When a fund raise takes place later on it the year.
I will gladly point this out to you. So you understand the difference.
Q, jeez! Their announcement today follows that of yesterday which gave details of a book-building exercise (read my last paragraph). You simply don't understand anything about this do you? You are 100% wrong and are really making yourself look like a gigantic arse.
Addicknt GGP got an RNS this morning.
May I suggest you read it.
It's everything I have said.
Quite right, Eish.
That sort of explains why BHP might be friendly and amiable with one bjsiness but with us they seem to be hellbent on causing trouble.
It boils down to the discussion that's been had before about managing the relationship with them. Have SolGold done that well enough or is it about to bite us on the a***?
SharketMare I invested in oil and gas for decades. I know exactly how fund raises work. This was a discussion as a prelude to a fund raise. When we get the fund raise it will be judged if its a success by the take up and that will be announced.
Q, sorry, but you really are talking complete nonsense. You are the only person who thinks what you're saying is correct and you are deliberately ignoring the evidence, which is strange because it's supported by what the company has announced.
Anyway, you carry on with your grand delusion and don't be surprised when I remind you of this conversation once the next fund raise is announced as a done deal. (the only caveat here is if we end up doing a book-building exercise as GGP did yesterday, or if the package includes an open offer to us cannon fodder)
Fort - these "underhand tactics at board level" are just as likely to be an act of discontent at the actions of management as they are an attempt to gain control of the business. They seemingly relented after Twigger's public salvo as we heard nothing further.
The whole episode came about in the aftermath of the Franco financing which we all know was a big bone of contention for them, to put it lightly.
Yes, they do take strategic stakes in businesses showing promising assets. Filo del Sol is probably the most promising of the emerging discoveries but there's a small cluster of others, none quite as big as Cascabel (yet) I'll grant you that. You used the word 'many' for what it's worth.
Lets hope you're right about funding not being an issue, because here we are dowm to a runway of 4-5 months and an apparent impasse between the major players. Solgold3have never ever left it this late but I'm sure everything is absolutely hunky dory.
The reality is, there are two plans and we all know what they are:
1. SOLG raises $3bln through Franco, Boliden, et al and banks, loans and equity. The asset has to be tapped and sliced up in that process. So if you are worried about a pony 1% royalty, wake up because you're likely to end up with 50% of ENSA by the end of this and more dilution.
2. SOLG sells ENSA to an interested party or consortium. This could be part sale or full sale or sale of entire SOLG business.
Now which one do you think BHP and NCM are hanging around for?? Option 1 or option 2?
Oh my giddy aunts.... it's like some around here are sleep walking they way through investing.
Sometimes you have to show that YOU CAN deliver option 1 to get the best price from option 2. It's called strengthening your position and it's clear that NCM and BHP are not going to help SOLG do that. They are no longer supportive shareholders. They are now obstructive and seeking a way to get the company on the cheap.
That's me done for today... been fun. Will check in later just in case I've missed someone topping up or selling a block. Lol!
Thanks for the patronizing, usual pie in the sky claptrap, CD. Looking forward to news of Franco handing us $1bn for 10% of a project that is yet to reach BFS.
How about you spend some time laying out the potential downside here too?
FWIW, I think the company is either bought out or Mather/DGR instigates some sort of corporate action that rerates this stock before EOY. I think there is pain to come in the short term though, hopefully through a fundraise to stop us becoming a real sitting duck by the time the AGM comes round.
Quady - it's become apparent over recent weeks that you haven't the feintest idea what you are invested in or how companies work.
Oh God not the fund raise/ no fund raise merry-go-round again
Filo Del Sol
"In connection with the Private Placement, BHP has been granted certain participation and top-up rights, allowing BHP to maintain its ownership interest from time to time, provided that such participation rights will not apply to any portion of BHP's ownership interest in excess of a 9.9% undiluted ownership level in the Company. In addition, the Company and BHP have agreed to form a joint advisory committee to share expertise, exploration concepts, and discuss future project development."
I think BHP have made a $100mil investment in this Argentinian Discovery.
The point I am making is that they are represented at board level and seem to have a far more amiable relationship
Addicknt a failed fundraise would mean we get a statement or RNS about what the uptake was say fell below 100%.
Can you tell me what the percentage take up was, or is it the fact that no fund raise took part and it was only a discussion.
Q, it seems I'm going to have to explain it again. Of the nine fund raises undertaken since June 2016 two were offers to all shareholders and were pre-announced accordingly; seven were not. For your benefit I'll re-iterate - if it's an offer open to all the details will be announced, if it isn't, they won't and never have been.
Your obstinacy on this matter is quite extraordinary.
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.