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Quady, spot on.
Each and every year that we require a raise solg has delivered, often surprising us with deals like the Franco streaming deal.
Why should it be any different now.
It's always the same names trying to spout negativity.
Onwards we march solgers
Bhp f@ck you pay me
stitch up...
Thanks Lunch...
Meanwhile surely SOLG wouldn't have tried to hawk the whole deal to BHP because that could have increased their percentage holding to almost 29%...inviting a bid...
Please don't say you're also part of the 'this is all a stitch pop by Darryl the BHP stooge' conspiracy group...
Very impressive post redknight1..........!
Fortissimo....if I'm 'talking my book' why do I keep referring to the inevitability of a bid...?
Also, well before you joined, we've already more than doubled our money twice by taking a view at a point in time.
I have never set out with the intention of trading Solgold, but I take a view on our holdings of everything in our portfolio all the time, based on content research and a narrow strategic focus centred around copper, gold and silver (accounting for 80% of my portfolio).
And remember, I didn't SELL Solgold, I SWITCHED into ATYM as appearing to be a better prospect at the time, with an operating mine and a yield of 10% plus at the current price. Since July 8 SOLG has fallen 22%; ATYM 4.6%...
I recognise some people don't like me saying what we've done, but since being challenged as to the veracity of my stated dealings and having to produce screenshots of actual trades, I have tried to be transparent at all appropriate times.
I have not said people should sell SOLG since I di last week. People like MAX have made their own decisions.
And yes we may miss out if there is a bid before we can reinvest, but we won't have LOST any money, we will have GAINED on our existing holding if there is a bid, but obviously not as much as if we still had 800k or even 1.1 million shares.
With very best wishes
RK, that's very interesting, thanks.
Very simple seanhunter, if you believe what you say sell up.
We can raise the money, and when we do, everyone who doesn't think we will now. Will pretend this is because a bid is around the corner.
When the complete opposite is true.
Quady you may have noticed that no one is queueing up to fund us, not for production and not even for short term survival. Banging on about the diverse book seems to be a comfort blanket for you but it has heehaw relevance.
With the dust having settled, I've taken the opportunity to speak to my contact in the City and, while she has no direct relationship she is very well connected with market participants, including those who advise prospective subscribers. Also anyone who works in the City knows it is a village and you can't keep a secret, viz the two 'informed' articles in the last couple of years saying there will be a takeover bid, e.g. "the hottest takeover story in town..."
I have some understanding of FCA regulations, having been both a broker and a principal in capital markets, but its moved on a great deal since my time and it was refreshing to catch up on stuff relevant to last week's debacle...so...
We need to put the TWO RNSs together (the 'inept' one and the 'voting rights' one).
They are BOTH clarifying statements required under FCA regulations as a result of the failed equity issue.
So...because certain parties would have been approached and some might even have indicated or made a commitment, they would have been precluded from dealing in Solgold shares while the issue was 'live'. Furthermore, they will have been given an up to date story of where SOLG is at because in the absence of a Prospectus they would have needed a rationale to buy.
Once the issue failed, they remained in that privileged information position and would continue to be precluded until these clarifying statements were released. So the first RNS simply summarised everything the prospective investors would have been told and nothing more that wasn't already in the public domain. The second confirms no shares were issued. Together they release those prospective investors to deal again in the market.
I referred to the first RNS being inept, but the ineptitude was in being persuaded by a bank to embark on the issue and then having it fail. We may never know whether it failed completely, I think it is more likely that it was pulled because the terms weren't sufficiently attractive for enough investors to commit and fill the subscription.
That is the ineptitude: an ill judged and failed fundraise; and then the requirement to as good as admit that to the world (later confirmed by Berry Street).
So where does it leave Solgold and us?
Any prospective investors that were approached are left in no doubt that Solgold needs a raise, which makes the company a 'hostage to fortune'. The SP has already fallen as a result. There may well be sufficient interest from existing investors such as Norge, Blackrock, Valuestone and of course BHP and Newcrest (and DGR and CGP if they can raise the cash) to be the bedrock of a successful issue which I believe would have to be pitched at c20p.
For some there is a sound logic in holding on for a bid(s) that surely cannot be later than end December.
Others, like Max, may already have sold with the intention of buying back; others may have spare firepower, waiting for their target entry point. Good luck to all of you whatever you
Bozi it's not what I claim, some people on here know who I am.
When I say nothing has changed, I mean the major holdings .
The diverse book remains diverse, that is what needs to change for a bid.
The only interesting snippet amongst all the dross, was DGR's latest webinar.
If DGR was to sell it's holding in Solgold, that would change things.
Quady - how can you say nothing has changed but then deviate and talk about us being picked up for pennies in the same post?
These boards are for talking about past decisions, the current situation and analysing future headwinds and potential catalysts. Nothing stands still.
One part of a technical analyst's job is to evaluate the impact of an upcoming set of events. You demonstrate a lack of willingness to want to consider anything until it has happened, which I'm afraid is fundamentally flawed relative to the job you claim to have held and skills you claim to have.
Jezzoo that has been my point all along.
I am puzzled by those that want a bid and say we cannot do this ourselves, as their position makes no sense.
You can tell the people who lack investment knowledge on this forum, not by how they talk, but by the position they take.
Quady:
>>After all if we cannot do this ourselves, then no one will bid, as they will just wait till we fail and pick us up for pennies.<<
For once we agree, I said the same yesterday.
Redknight, you trade away, it's entirely down to individual investors to play with their holdings. I have no problem with that and fully understand how mentality (when selling 500k+) alters the way you post. But seriously... if you think a bid is coming why would you bother taking the risk of waking up one morning and finding you are 100k down rather than 16k up on your 'trade'.??
A bid could come at any time and if anything is way more likely now than ever before.
Each to their own. I've been adding on every dip sub 25p (and there have been a few) and every time the stock ends up at least 10p to 15p higher as some point. I imagine it will again. But am hoping much higher. I think this all this 'noise' is designed as a precursor to a bid and SOLG management are part and parcel to it in some way. Sometimes you have to soften up investors a little before you drop the 'strategic review' eg SALE process rns.
Bozi....with the continuing You Tolgui delays, there is no significant copper c coming on stream before the inevitable demand/supply crunch in a minimum of two years.
And there is only 9 years of gold in the ground of existing mines (meanwhile big prospects like EQX are valued at a song).
Bristow has publicly stated Barrick are looking at copper/gold porphyrys...
Ecuador is the next Peru/Chile...buying Solgold would give any one of these majors an armlock on some of the best prospects in the world...
Tick tock...
Bozi, many of these super majors are already active in Ecuador. Your dismissive view of the super majors interest in Ecuador suggests to me yet again you are looking to be negative rather than positive. WHY??
As reported recently, Lasso and Barrick had a cosy meeting.
Super majors will have interests all over the globe. And as for your comments on NCM... Havieron is peanuts to them. $300m spend isn't it? Hardly preoccupied ...for a multi billion dollar company.
Your negativity is giving you away I'm afraid. You seem to ignore all the news out there. Go do some googling and see who's already in Ecuador and ask yourself why?
I can't comment on the individual merits, many indeed boasting great track records, but it's clear the current lot have been in place long enough for any good they might have done and the cupboard is now bare. We seemed to have sleepwalked to where we are now which is incredible given the energy and sure sense of direction Solg showed as a young company. Sad times.
Really everyone nothing has changed, if we stop talking rubbish about a bid, we can have a better educated conversation about the future of Solgold and it's direction.
After all if we cannot do this ourselves, then no one will bid, as they will just wait till we fail and pick us up for pennies.
Haha Fort....
Remember when I laid out my rationale for reducing my stake that I reiterated my firm conviction that Solgold will be taken over....its only a matter of time.
I have also said that there is a risk I might miss out and I genuinely wish the very best to all of my fellow travellers on here if they finally get their due rewards for patience...
But no...we still have only 300,000 shares, which has at the current price saved me losses of c£16,000...
I continue to research and watch and will post something immediately after this that clarifies my current thinking.
Keep up your objective posting mate.
Addicknt, look on the bright side... it's only 4 months to the AGM and I don't think there's one director on the SOLG board that will feel comfortable about that. All likely to be booted. Of course that doesn't solve much and likely hands the keys over to BHP and NCM who can appoint directors of their own.
So it's going to be a very interesting 4 to 5 months here that's for sure.
I am the only one who has no confidence in the BOD, I wonder how many are on a luxury holiday while the share price tanks. I hope the next RNS will benefit the shareholders.
Fortissimo - I'm willing to argue that 55c does not represent a 200% premium of the previous day's close of 25c.
Not sure whose school of Maths you attended.
Noront is Noront. It's not SolGold. With Noront, BHP emerged as a third party and Wyloo were already a significant shareholder in the company with power to fight off the competition.
Who is going to emerge and play BHPs role for SolGold? Barrick have their copper gold project in ****stan, NCM are preoccupied with Havieron and Red Chris, Anglo have seemingly chosen Africa as their next copper frontier. Rio? Not sure given the turmoil they've been going through.
It's OK saying all these majors are cashed up following a period of buoyant prices but they all seem to be focusing their efforts elsewhere and that concerns me.
Tragic that we can be talking about a low ball bid of 50p in 2022 when scoffed at it in 2017 when 50p was worth a good deal more in real terms.
But we are not sinking. Just rudderless and becalmed with a BoD who are bereft of any realistic plan that anyone except Quady takes seriously.
Cheers RK, could always do with good luck, but with longer term in mind I think luck will be just a bonus.....:)
ATB to you as well.
Has someone hacked your LSE account red knight or have you bought back your 500k this morning? You're like a born again SOLGer