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Lisa FromBradford , one of the good guys or gals I suspect x
Or are you RK in disguise!
Why how much did you buy litho?
Last of the big spenders!
Novochoc - you said you were leaving for good.
We were all celebrating.
What happened - FOMO?
Z
Is that where SOLG are now? Answers on a postcard , but CD can have an A4 sheet , or two!
I still think it's gonna get exciting , I put another 2k in today.
Hello fruitbat… a mate of yours at Cantor?
Plonker
Agreed damers lots of experienced investors here who should have known better. Like I said yesterday someone is setting this up to scare as many PI’s as possible into selling, this will be transformational for many, anyway back to reading from afar ONWARDS AND UPWARDS
Hmmmm.......all those who took fright yesterday and off loaded must be sitting in their arm chairs thinking: maybe the wrong move.
So loads of PI's sold at 25p / 24p and I am sure a few sold for less after reading the de-ramping BS on here. The string of posts declaring Jason Ward had resigned was so ridiculous it was comedy gold.
King of the de-rampers: Red (resently off loaded a huge chunk of shares) response to the JW post was 'FFS' - suggesting that the post was fact. I would not be surprised if I receive a convoluted reply stating that: 'the Red one would never partake in such rhetoric' - nonsense my friend.
So, the SP is not much lower than 3 days ago (Wed +5% /Thu -9% / Fri +3%) which is approx 1% down (FA).
Many have stated on this BB that what happens is the PI's take fright, the II's in turn snap up the cheap shares before the rocket is launched - it's all being played out before our eyes, but this PI is not for turning.
Just to recap on the last few days news: an employee has left the Company. This employee may have been the linchpin in a failed equity raise - that's it.
So, we still have ALL the resources / we have new and highly skilled professionals joining the Exec team / the value of our resources is ever increasing (making low ball bids more difficult), etc.
Too many are guilty of falling into the snares left by the majors who's ONLY goal is to acquire SOLG for FA.
NOTHING HAS CHANGED.
£1 Cascabel
£1.50 the lot.
De-rampers: you will be will be welcomed back with open arms, but unfortunately you will have to pay more to rejoin the club.
No retreat - no surrender Solgers.
Damers.
I think the BOD will reward us …
Must be something in the air or smoked lol !!,dream on if you think this bod are going to reward you
Rcgl2 14:41 - quite right.
Time for them to show themselves. We've all been very patient.
Fortissimo - I have discounted a bidding war unfortunately because I don't think it's very likely.
A third party has to come right over the top and usurp the biggest miner in the world, or at the very least bid them up.
Do you think this is realistic?
It's easy to bid them up on something relatively small fry like Noront, but what happens if BHP say £1bn and Barrick says £1.2bn and so on and so forth? It's BHP that holds 14% of the stock and they know they have any rival on strings. They also have the interest in Filo and can clearly look at other players for emerging projects. There's a reason why it's their strategy to move first and take those early positions in juniors and if I'm the CEO of Barrick then I'm seriously considering leaving a politically frought Ecuador to BHP in favour of slimmer pickings elsewhere.
As a SolGold shareholder I'm urging them to get involved. Hopefully I'm wrong and they do.
Fortissimo - I find your 11:51 post very naive for someone who knows the story in the detail you do.
The share price isn't anywhere near 40p because the market knows, and has known for some time, that SOLG needs funds. The market also knows of the previous AGM tussles, that the Alpala PFS needs enhancing and that Porvenir is drifting towards a PEA in a few months time and that's in the event there's no postponement. As a result, the goodwill is seeping away and this is a process that has been ongoing for months now.
Add the misappropriation of funds into the fray and SolGold is a fantastic rags to half rihes story that is struggling to take the next steps.
There will be a raise if there's no other suitable proposals forthcoming but we know who has control on the terms. Clue - it isn't SOLG for the reasons mentioned above.
People are losing their heads because the company can't put one foot in front of the other without tripping up.
As for securing more funds via stream, whilst less dilutive this would be extremely dangerous. We're already on the hook with Franco and the 1st phrase PFS has an IRR sub 20%. Adding another slice of stream finance now would only harm those economics further and would ultimately be quite reckless.
Rcgl2 - fantastic post at 11:49. A post that includes many interesting snippets, the level of detail clearly at a level you'd expect from an experienced professional in the industry.
Very useful.
Hi. I've held shares in Solgold for some time and I found this site purely by accident, started to read and then joined. I've little knowledge to contribute and on the few occasions I've posted, it's been to ask questions, which peoplw have kindly answered. I've learned some trading stuff, which I've always appreciated, even if I haven't always understood it right away. Unfortunately I've also learned that some contributers have a difficult time respecting other people's views, even when their own have been proved wrong, at times repeatedly. Could I respectfully point out how off putting this is to new people. Presumably if we've reached a stage in life where we are in a position to research, seek out information and invest, we should also be able to debate ine another, without insults and rudeness. I mean no offence with this post, I just think it would be a better site of there were less unpleasantness. Many thanks if you take the time to read.
Talcum, completely agree and that's the approach that NM took last time with Franco. But what happened after that was toys out of prams stuff from NCM and BHP so guess if SOLG went the same route then BHP might be forced to bid as the 'asset' is being eroded in their eyes. And it's their 'asset' in their eyes lol!
So if you were SOLG and wanted another 12 months to prove up Porvenir and Helipuerto plus add $1bln + to PFS... would you stroke the the backs of the likes of BHP and NCM or wind them up?
You never know, the reason why the funding did not get away may have something to do withy NCM and BHP being asked to sign up to a 12months or 18 month lock in (or ban on bidding for company) etc like last time around... unless some outsider bids. Remember, NM wants 'time' to rinse and repeat and believes the rest of the folio is worth so much more than Alpala. If BHP and NCM were against being tied down then no surprise that SOLG would have walked away. I reckon it's along these lines as one tries to squeeze the other and the other tries to buy more time. More time means more 'value' generated... well that's the idea and that hardly aligns with NCM and BHP's plans if they want to swallow SOLG on cheap!
Games played by silly little BSC, as Novice described them as nothing of significance, if they were so miffed why not sell at 40p or 36p not long ago?
We ended in the blue so it can’t be all bad imo of course
Atb
" SOLG has proven several times over that they really have no problems getting funds it's just pleasing all shareholders is not easy especially when the big two want you on the cheap."
Fortissimo, If Solgold has no problem getting funds why bother about pleasing shareholders. Why not get the funds and if any major shareholder does not like it they can make their own offer on better terms. Isn't put up or shut up the best policy now . Otherwise we could be waiting for ever to do both please all shareholders and raise funds.
Someone knows about this failed fund raise, we just need a grass there must be a few on the board
Of course I meant $5 million not $5 billion, I do apologise.
It'll be $5 billion a month if Quady gets his way...
Solgold there from Monday-Wednesday next week
"Deal maker's paradise"
https://stockhead.com.au/resources/dealmakers-paradise-these-are-the-big-names-on-the-card-at-diggers-and-dealers/
Monte/Sire - good points. In fact:
Wyloo Metals head Luca Giacovazzi said: “In April this year, we were deeply concerned when the Noront Board proposed to farm out Noront’s exploration projects to BHP for only C$25m.
“Rather than consenting to such a transaction, we decided to make an offer to acquire the Company. Our fears were justified when the Noront Board completed a deeply discounted 5% placement to BHP, giving away a strategic toehold in the Company to an obvious suitor.”
I guess there are two ways of reading this. One is that the Noront board were for whatever reason beholden to BHP and seemed to be bending over backwards to hand the company to BHP at every step of the way. This is the scenario that many have feared with Solg, especially when half your board and senior execs are all former BHP employees.
The other is that the Noront board were bringing BHP in to push Wyloo into making a bid and trigger a bidding war. Which is ultimately what happened.
This all sounds quite familiar doesn't it... Solg looking to bring in JV partners on the regionals, the placing to Valuestone that you mentioned, even the Franco deal that the major holders felt was giving away value cheaply.
If the going to production plan was always just a giant charade or attempt to extract a higher takeover price and the plan was to get taken over all along (kind of what Nick Mather said via DGR the other day) then some of the steps taken were just attempts to push BHP into action but they have clearly failed. And it feels a bit like Solg is running out of runway because BHP have just patiently held back and not taken the bait. Solg now needs to raise a lot of cash to get all the various studies completed and then will have to actually fund the construction at Alpala... not good if in reality they never expected to get that far.
I would love to know who was approached in the aborted fundraise and why it failed.
rcgl - how about the chinese who got involved to help fund work on porvanir?
Did BHP have a stake in Noront at the time of the first bid?