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My contact also predicted this reply from Kohaku01!
Can we stop with my contacts
Not one members so called contacts has ever been right
Respect for your honesty Sean..
My contact suggests the placing will be at 35p :-).
Seanhunter the wider market is down, and Solgold is doing everything they have said they would.
So why are you so downbeat. A bid was never part of Solgold's strategy.
We should be pleased we are continuing to production, as it's the best way to unlock value.
Not happy (though not too bothered) about the share price but actually thought the presentation was pretty good.
From my perspective it's pretty obvious.....We are trading at a massive discount to our current NPV (let alone our potential short term upside to NPV) .... Any major worth their salt will see this and also recognise the current climate and the approaching long term Copper deficit.... The reason they are majors is because they ARE worth their salt and they will recognise this opportunity .... Just a matter of time
I expect a placing at 20p too. This will pull the SP down to that level, then it's 19p from there.
It's just a shame SOLG has never offered access to giveaway placings to existing retail shareholders, but I'd pass on this one anyway.
To the new generation of SOLGERS who bought in over 30p and are now underwater, and to the ever loyal poor bloody infantry who once again held and didn't sell as we once more kissed 40p hello and goodbye, I'd like to apologise for being one of the loudest voices on here promoting the idea of an imminent bid. All I can say is, this time round, I really believed it. It was the right time, and the right position for us to be in - plus without one, ie. where we are now, just didn't make sense. Without a bid we are in limbo, with nothing to offer but more spending just to grind on month after month, or massive, massive dilution to start chasing the crazy dream of going into production. I know I didn't tell anyone to buy, or not to sell, but I still feel guilty. What makes it worse is I have no faith in the current team leading us, I just put all my hopes in a rescue that never came.
He was probably upbeat because he knew he didn't have to answer any awkward shareholders questions. That presentation was a waste of 20 minutes....
orchestrated drop to enable huge placing at 20p
God I sound like you MassiveRay !
"CEO Darryl Cuzzubo confirmed the company tested the market."
I can see that much.
Of course he’s upbeat damers he’s doing exactly what his ultimate paymasters have asked him to do lolzzz… stop hypothesising and investors out there are not happy sell up or like myself keep adding until eventually even a 50p takeover will make people very rich, simples and extremely. Always watching from afar and yes the content is sooo much better lately lolzzz
Can any1 with access post the full article? Ta
Difficult to trade this at the moment while it's trending down.
Solg fundraising is normally over subscribed.
Miningnews article
https://www.miningnews.net/events-coverage/news/1437120/solgold-considering-funding-options
SolGold considering funding options
COPPER developer SolGold is actively considering funding options for the definitive feasibility study for its giant Cascabel project in Ecuador.
He ignored DGR global when referring to shareholders
Cuzzubbo seems pretty upbeat. He obviously has not been reading recent posts on this BB.
https://twitter.com/solgold_plc/status/1555171019173904385?s=21&t=TG3Kpo-Nl6EdZfLBWG7tDg
If anyone interested
Not boring at all Lunch…. I think the posts/discussion over the last few days have been quite refreshing to be honest… varying opinions, considered debate, with very little outright insults
Thanks Lunch and Rcgl2, not boring read at all. Exactly what I was looking for discussion on as wasn't entirely clear myself. We've got around $25m left in the coffers so more than enough to see us through to full normal market resumption post St Legers (Sept 10th). And FWIIW, I think the Darryl and co deliberately kicked Porvenir into Q3/Q4 as it pushes events toward end of the year. What's the betting they try and save their jobs with a PFS2 update and Porvenir PEA 4 weeks before AGM! I guess the 'need' for cash stems from the Capex requirements (and timelines) involved in delivering the 2 key news announcements. Mmm!
Lunch - not at all boring! many thanks for the research. Hope our BOD are aware of this and perhaps spark them into some action over our short term financing need. Would help the SP no end!
Hi Lunch - agreed. The company didn't and doesn't have authority to issue any shares without applying pre-emption rights, because the special resolutions didn't pass. The cash box placing is a workaround of pre-emption rights, and would have allowed them to issue the shares to anyone on a non pre-emptive basis.
However, in reality the company respected the pre-emption group principles, and offered the cash box placing to the major shareholders in a "soft" pre-emptive way, so they were all able to participate in line with their respective holdings. It may has well have been pre-emptive, except for the little guys like us who barely had a chance to participate in the retail offer because it happened so fast and people didn't get much allocation anyway.
My reading is that he major holders were on-board with the cash box offer because they got to participate so it didn't make much difference to them. I don't think they would be happy at all if the company tried to pull off another cash box placing without their agreement and participation, for example offering 10% to a new player like Barrick. In that situation I think they would kick off, start railing against the use of the cash box, claim the company wasn't respecting the rights of shareholders, calling for EGMs and votes on the board etc... Just my guess, but can't see them being happy if they were bypassed and diluted.
Which is to say, the cash box was neat trick when the company had the major shareholders onside, I don't see it as a magic get out card that they can keep playing against the wishes of the big holders.
Red,
Let’s hope we don’t see you in the next Paralympic's after dipping your toes
Atb
Good luck RK....
Seems like we need it....:)
OK...
Bought back 50,000 at 23.4124 at 8.20am and
56198 at 23.3625 at 11.06
That'll do now but I'm hoping to 'staircase' some more over the next few days...