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Bye anon...
Thanks CMG
Red, let's get something straight there's absolutely no comparison to you and slug on any metric whatsoever
Thanks again for that DBW...
There are some people on here like DBW and paymaster who work their socks off to find material, relevant articles, etc.
There are others who spend hours on research, invest time patiently in building trusted relationships in order to inform their opinions.
Both of those groups are doing all they can to help others on here who don't have the time or the wherewithal to find or generate such information.
Then there are those who post opinions dressed up as facts.
And finally there are those who invest many hours reading for and rubbishing the efforts of the first two.
You know who you are. Is it resentment or bullying?
Any decent person would post constructive responses or opinions.
Many many times I have posted something and said "I would welcome any opinions/comments/etc."
And I often wonder why I bother, especially when people effectively call me a liar...
Maggie,
Yup bn.c does know...........& not just bout the candlesticks n crayons etc..........;o]
Just tired of reading ****** most of the time.........as I'm sure are many.........so typically dont tend to comment much even tho I'm now out of contract & have some more "free" time...........
Just catching up on things............
Hope you're not gonna be picking on the miners Maggie - it's not the 80's u know [chortle chortle]
Toodles,
BN.c
https://www.thearmchairtrader.com/solgold-management-changes-restore-investor-confidence/
"SolGold still in the driving seat
Despite the perceived management turmoil, when it comes to it SolGold are still in the driving seat at the Cascabel Project – which is a seriously chunky deposit that has the potential to become a Tier 1 mine.
Back in April the company announced plans to start mine construction at Cascabel in the fourth quarter of 2024. SolGold said the project’s prefeasibility study would be completed by the end of this year, with the final feasibility study due next year.
In its prefeasibility study for the Alpala underground deposit, it outlined 9.9 million tonnes of copper, 21.7 million ounces (Moz) of gold and 92.2Moz of silver in measured and indicated resources. The prefeasibility puts investment at USD4.88bn over nine years in pre-production and post-production capital.
Of the amount, USD2.75bn would be pre-production capex to be invested by 2029 and USD2.14bn by 2032, when full production should be achieved. The average annual production in the five years following initial ramp-up is put at 190,000 tonnes per annum (Tpa) copper, 680,000 ounces per year of gold and 1.3Mozpa silver.
Once constructed, Cascabel will become one of the top 20 copper-gold operations in South America. It also has a number of exciting exploration prospects including Porvenir, which is being test-drilled currently, and the Helipuerto project in southern Ecuador.
On paper, SolGold has a strong hand, an exciting future – especially as the energy transition gains momentum and the demand for copper increases – it remains to be seen whether the management changes will be enough to restore confidence in the miner, drive the development of Cascabel into an operational mine, and secure the requisite finance for SolGold to match its ambitions.
As Marshall said on leaving the building: “The challenge, as with all similar projects, is turning an exploration dream into a mining reality.”
redknight you accuse me of being Slug haha
I think Slug has just turned up though, anyone can spot his posts a mile off.
FYI I have read this board for over a year and haven't posted because I'm no expert like yourself and others on here but lately I am tired of reading the same old drivel from you and many others. I would say the only poster I agree with on here is MathersFinger!!
It was announced that the CFO resigned but you keep insisting this is not the case and you know for sure but can't share it, why can't you share? Isn't that like having some kind of inside information? You make all these bull.... statements and I've never seen one backed up.
You and Fort( CD) are going in the filter, I've wasted too much time reading both of your made up stories and fantasies on what this and that means when in reality none of you 2 and everyone else on here has a clue. Listen to MathersFinger and just sit back and see what happens, or listen to Quady and listen to what the company tells us :)
Redknight I would hate to have a pint with you, for me that just sums up of the character you are and how you come across.
You don't understand the concept of trading.
He/she may , still believe in the fundamentals of this company. And just waiting like everyone else.
No harm , making a pound . While we wait. GL
The feeling is mutual :))
I will on my earnings here tinyray
#harmlessfool
anon I won't even trouble to reply to your post if you can't be bothered to explain the several where I have out forward my reasoning...
And how sad do you have to be to join this Board and your first post shows exactly what an idiot you are.
Please go away if you have nothing better to do...Slug or whoever...
redknight said this... So I am massively reinforced in my view that a bid will come by Christmas...but when and who will make the first move...?
yet he sold a lot of shares today hmmmm
Based on cash burn rates of past and assuming they don't do a raise or royalty deal before Dec AGM, I forecast a cash balance of $4m around first week in Dec. So based on that, if all and sundry sit on their hands until the AGM, then we'll likely see a number of BoD's voting onto the board or and being voted off. And then post Dec AGM the new looking style Bod's might be able to get through any equity raise they like. New directors being put forward to the board at the upcoming AGM might well come from NCM and BHP. You can see where this is heading. So I feel assured that Mather and co also know where this is headed and will take action (what that will be is anyones guess) in the next few weeks or couple of months at best. The noose tightens as we head into October imho.
It's possible that they might be able to deliver the PFS2 prior to November and even Porvenir PEA. In theory both would be required prior to a fund raise as they would be key catalysts and within 4 weeks of a rise is disliked by the regulators.
One last point.... if we have lost some directors from the Board... what could this mean if a 'deal' is tabled and requires the BoD's to vote on it?????
Sometimes having fewer BoD's helps some folk more than others. Ponder that one.
Pretty much agree with all of that ….. whatever “the end game” is here I’d say it’s been greatly accelerated over the last two weeks …. My guess is more by design with a sprinkling of incompetence
Sorry DBW I was otherwise engaged with Colonel Drake...
So...you said...
"Red it looks (after picking through the bones) fairly straightforward now. The BOD are all toast in December so the need to trigger a bid ( or bidding war ) before then …. The way they now chose to fund the company could easily accelerate the process.
Streaming deal would suit the market but most certainly **** off the likes of BHP & NCM….. but would it be enough to force their hand??
A cash box would introduce new investors which wouldn’t go down that well either with BHP or NCM
Game of chicken being played out for very high stakes here right now …."
Taking individual points:
Today's fiasco on top of the 28 July RNS means IMO that they are all toast in December.
I know SOLG did a cashbox before and it was successful and maybe that was the plan this time, but the stakes are much higher.
Surely BHP, NCM, BR, DGR, CGP and Norge would want a plain vanilla rights issue so as not to be diluted? Mind you it is moot where DGR, CGP and Nick would have got the cash from...so maybe Nick wasn't in favour if that was the case...?
We all know that a streaming deal is doable, especially with Boliden now involved and remember we never took up the 0.5% from FN. Although the deadline has expired you bet your life they would jump at that...
And it certainly did p*** off BHP and NCM before. NCM withdrew Craig Jones wh was reluctant to go...
In conclusion it could easily seem that all this is being engineered to flush out a bid from BHP or another major. Maybe BHP would be reluctant to move first after OZ and maybe even OZ was a diversion from their real intention to bid here. Whoever counters at OZ might well occupy a competitor for some months.
So I am massively reinforced in my view that a bid will come by Christmas...but when and who will make the first move...?
Nobody except you seems to reply to me in a parrot style except you tinyray do you have a problem with the size of your appendage lolzzz
Great to know after all these weeks of barely posting I’m still living in tinys head rent free :))
Have a great summer buddy
Oops I AM Spartacus...
But nobody expects the Spanish Inquisition...or did we have that this am...?
BTW I assume you're Colonel Drake, based on your style....
But IIIII and Spartacus....!!!
Glad to see we're friends again. Thanks for your gracious response. And your honesty.
We concur on strategy but for the time being mine is more adaptable than yours.
That is not a criticism by the way.
I totally agree your earlier post DBW
Please be good enough to tell us how many shares you hold and what your strategy is...?
I hold more than you. And my strategy is to hand them over at a significant profit upon an event which I am assuming will involve a bid/offer or auction process.
I've been very consistent with that and open that I want monetisation rather than some rather courageous attempt at self finance but understand the plan A sort of assists with the Plan B. Wouldn't want to be a sitting duck would we... or then again... perhaps we've always been a sitting duck but things keep getting in the way of the sharp shooter!
Well done on your trade. No problem with that. Certainly better than one hindsight trade on here!
Its Berry Street Capital addickt...
And in my opinion they should do what they should have done 2 weeks ago...a straightforward rights issue that will give the market comfort that they have no cash needs for many months.
As I have said before...if that was done at say 20p it would in my opinion put a floor under the SP which it would never again revisit, with Porvenir PEA, PFS2 and bid rumours ahead...
I sold 500k at 26.4p and bought back the lot for under 23p...
That in my book gives a profit of £17,500...what did you do? Stare at the headlights...?
I have always sought to be transparent. Please quote me a post where I have stated that I have sold 200k or 300k because I've 'heard something'?
So just to be completely clear so that even you can understand:
I saw the RNS on 28th July and after the market was open sold 500k.
I stated my reasons clearly. I thought there would have to be a cash raise and in anticipation of that the SP would fall.
The cash raise didn't come; I have plenty of firepower if it does, but I became increasingly concerned that there might be an opportune bid, so I gradually bought back for an average of under 23p, with my last purchase at 21.9p. You can check back my posts.
Once again this morning I read a RNS and as soon as I was able, reduced my holding because it is clear to me that they are haemhorraging cash and will have to raise...unless a bid comes first...
Which has been made massively more likely by today's RNS IMO...which is why we still have 600k shares...
Now Fortissimo, you post some solid stuff sometimes. I have clearly stated my position and strategy and more than once that I research SOLG constantly and sometimes make a short term change.
Please be good enough to tell us how many shares you hold and what your strategy is...?
Otherwise have the decency to desist and stop lecturing people.
You aren't Quady are you?
Fortissimo are you setting yourself as judge and jury here...
Some of your responses might imply that YOU have inside information...you're not Nick are you...?
You clearly aren't on Linked In because this is what Ingo posted 2 weeks ago...
"After 3 years at SolGold plc and 2 years before as an advisor, I am moving on. My role has moved to Brisbane and the strategy has evolved."
Q, do you genuinely believe the company will provide 'clarification'? If they were going to tell us what really happened, they'd have done it in this mornings RNS. We've had as much as we're going to get.