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Sentiment low and investors fed up (well a handful or so on here) but nonetheless, it's perfect bid pitch time. You don't want to bid when investors are bullish and happy clapping. You want bid when investors are using terms like 'car crash' and generally doing the opposite of ramping.
That's when you want to slap in a bid. Remember, there's at least 50%+ of shares out there that are not in 'tight hands'.
Like Noront, when it starts it will be fast and many will be scrambling about paying 40p or 50p+ just to get a look in. Everything set up perfectly and looking great from where I am sitting. Ignore the noise... ignore the low volume nonsense share price and just focus on how bids arrive and come from Super Majors other entities. For instance, if NCM really wanted top price on SOLG, all they'd have to do is launch a take-over bid at 45p and just watch BHP come drawing out with a higher number. No one wants to start the gun because all want time to see if they can strengthen their current positions. And that includes SOLG BoD's who incidentally... got their share option awards out before they apparently sought cash raising via markets or strategic partners. Tick tock... it's coming. Without a doubt it's coming very soon.
orthern, indeed. People appeared to misunderstand the CGP situation and turned their ire on them, despite the fact it was us who launched a hostile bid.
In fact I think that bid was when the rot started to set in. It marked the high point of Mather's hubris and was a thoroughly awful deal from our point of view. Having to wait 18 months, or whatever it was, for a so-called translator made us look pitiably stupid. I actually ended feeling sorry for the PR girl who was tasked with defending that blatant lie. What a raging disaster it was.
Ortherncopper, we have to stick to facts, and that is nothing has changed, we have done the PEA and PFS, next is DFS. To many people on here said we are expecting a bid. Even when Solgold said they were not in discussions with anyone.
The things Solgold are talking about are the DFS, raising a CFP and construction of Alpala. Also talking about the other tenements, just no news yet.
Nothing else.
So we are on a long time schedule. Lots of patience required.
Montecristo:
I'll correct my earlier comment to: It's the slowest Gravy Train in history......
Lunch I agreed and fully supported the Franco deal, it was a great choice at the time… the important part being the buy back clause… but as you highlight, going down this route again, potentially with Bolli, cedes more.. making the IRR even lower for any majors out there, that may be interested in Cascabel.
Realistically we only have Mathers past bluster that there are many super majors circling around us… as far as I know, and the only evidence, is it’s just BHP? Anyone can correct me if I have missed evidence otherwise. Where are they if we are priced so low and so vulnerable?
A credible finance plan has been out of solgolds reach for too long..
I could go on, But I will leave it here, as I am aware quite a few of my recent posts have just been me complaining about the clear lack of any progress or achievement from our board…
I do believe in the asset, just have no belief in our board to capitalise on it
Add, I remember a few years ago, people gloating on here about how cornerstone were about to be ruined by our contractual agreements, how they couldn’t afford to contribute…. How we had the best side of the contract, how screwed they were… how they would have to capitulate to lord Mather…
I then saw an interview around that time from Irwin… who was totally at ease with it… as he explained, very clearly that Mather was talking nonsense, that Solg investors would be diluted to high heaven before they get to any Full feasibility, where Cornerstones investment will not be… they keep their 15% regardless of how many shares Solg have to create to try to prove it all up.. all the time adding value to Cornerstones 15%….
And here we are with an extra circa 500 million shares in existence, about to run out of funds again, and our management clearly failing to progress..
Now at a 19 month low...next support at 21.75...then 20 or so...then the COVID bottom (but we won't get that far...)
Come Oct / Nov miraculously and historically, SP will spike and same old dielema ! I'm pd off - fuse blown !
GLA
Hit 23.55 and bounced...for the time being...equity raise incoming...?
orthern, and that announcement was over a year ago and the company has failed completely to stick to their promise to provide shareholder value. One suspects Cornerstone may no longer be so pliant.
Piecing it all together...radio silence of months...Fawzi's guarded comments...a failed equity raise and a car crash RNS...
Rabbits in the headlights of a car...?
Hunkered down in their Brisbane bunker together...?
Excellent point addickt
I wrote to him asking for clarity about drilling progress across our sites and received
‘exploration drilling at the regional projects was paused in January and has not been restarted as the exploration team are undertaking extensive field programmes’
I also asked could Solg give just 1 example of what the announced newly agreed close working partnership of Solg and cornerstone has achieved? Just 1 example of how we are now working together, better…. And received
‘On Cornerstone, the announcement last year clearly marked an improvement in the relationship’…… . Excellent stuff…. So no he couldn’t.. and he was similarly useless regarding any update surrounding our hapless attempts at joint venturing the regionals…. I fully expect us to be handing back the majority of them.
Fawzi didn’t reply to me.
One thing's for sure, the time has come for them to drop various oblique references and to state with absolute clarity what the strategy actually is.
Quady will argue they have - with a degree of justification, I might add, but when you have the most important board member saying something completely different, is it any wonder the market is confused?
You can tell a lot about a company with how they dealt with covid. Some are now busier than ever and some are mentioning covid in everything they say.
On other words some have gotten on with it and recovered. Some use it as an excuse. Take your pick with solg.
Monte
It won’t get to any AGM …. They can’t afford to
They have gotten away with it for too long. This is just a continuation of the Mather era.
They fly around the world first class from conference to conference sprouting the same stuff time and time again.
Correct, how many times have you heard we have first mover advantage? A good management team who entered Ecuador 5 years after us, would now be 5 year ahead of us.
They live the champagne life style while at these cosy conferences.
And don't forget the large 6 figure salery to compliment. No wonder they are in no hurry to move this along with momentum.
I'm afraid to say Irvin and Co were right about solg all along.
I suggest everyone takes the opportunity to vote his year and get rid of the whole lot.
I wrote to him about Ingo and Lisa leaving; the 'car crash' RNS and Nick's and Andrew Taunton's unguarded comments.
He acknowledged both and seemed sorry Ingo had gone.
Has anyone had anything from Fawzi, or anyone else for that matter, in recent weeks?
Why bother...?
Meanwhile, looks like a steady stream of small Autobot sales...
Well expressed, orthern.
Slowest car crash in history....
Agreed