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Twiggy will do nothing.
Bozi, "learnings"! Good grief man, go and stand in the corner until you drop the illiterate management speak :)
Just look at how NCM treated GGP. These guys play dirty. They need to announce an auction process and just get it all tied up. Darryl has his bonus options now and that's what we were waiting for lol! So time to press the button and no surprise some SOLG staff are looking for new jobs... SOLG is about to be sold off.
Exciting times ahead and what many of us have been here for. The end game. What price?? 40p? 50p? 60p? 70P All depends on other parties like Barrick and co. They are the ones that know the real value of SOLG's folio. BHP won't walk away with it on the cheap. Twiggy will make sure of that.
LOL Quady....a friend said I should unfiltered you to see the rubbish you are posting...
Made my day...haven't stopped laughing...
If anything sums up your naivety it is this:
"Minimum dilution for production"
So $2 billion or so fund-raising for production will include no equity and therefore no dilution...
What planet do you live on...the place where Smash is made (for my older readers...)
Don't bother replying to me, you're going back on filter...
Byeeee
I can assure ou addickt...Ingo's hands are clean...
Not that I happy about what is going on at SOLG, and about all the things that are not disclosed to us.
However, one truth is that the SOLG tree needs some shaking to trigger some action, and at least this is starting to happen.
Either way, even if the whole speculation results into BHP buying us cheap, at least we can deal with the reality of it, make a decision and move on. Some of us have been going on here for too long.
GLA
"A strategic review takes months of uncertainty"
Ermmm red knight.... are you joking. We've all been here for yonks waiting for the for sale sign to be hoisted and you think it's months of uncertainty?? More like months of ramptastic posts on this BB as names get thrown into the ring like Barrack and Rio et al.
A strategic review is a 'sale' under the circumstances that SOLG are currently in. It will soon be time for you to buy in again as there's no way this is going down for very long as the end looks inevitable here. NM has already telegraphed it for you. Question is... what do SOLG have lined up as a defence? Remember they have been in strategic discussions for well over a year now. Would a merger with Solaris or Lundin in some form be the answer and make it harder for BHP to swallow?
SP now bouncing off support preventing a new 13 month low...
Probably being supported by the Nomad until the fundraise is out of the way...
What price now...?
Nothing Fortissimo.
The goose is cooked. The turkeys have been voting for Christmas for years here and we're now at Christmas eve.
All those who have constantly called for a sale at a price that won't reflect a fair return are going to get their way unfortunately. Berry Street are as equally culpable.
Plenty of learnings here. Good management is just as if not more important than the quality of the asset and fellow investors will be desperate to eat their cake before time.
Fortissimo I think the BSC statement substantiates my earlier posts...
I don't blame you for taking the bull position on this still, but...
The company still needs the money
A strategic review takes months of uncertainty...
Once again I am happy to be wrong but BSC's statement is a pretty damning condemnation of Darryl and the Board.
I'm now very clear why Ingo is no longer there....
They may well have been in discussion to secure funds post PFS but then market topped off, War escalated, interest rates started to rise and Ecuador had a mini revolution which was not at a great time. So more than possible that the window of opportunity slipped fast. But the fact remains.... Franco have said they want more. They had another $50m lined up. It's BHP and NCM that don't want the royalty finance. They just want more cheap shares because every share at 25p or 26p etc is at a significant discount to the end sale price which would likely be double or triple that. I say get a deal done with boliden (like Franco deal) and lets see what BHP and NCM do. Toys out of prams can't hurt us but if a bid comes... win win.
Oh dear I suspect I know who dazzlingDarryl is as the comment is really unintelligent.
Let me help you out.
In order to get to become a producer, we have a roadmap.
The next step on the roadmap is the DFS.
Easy when you think about it.
Fox in the coup, sharks circling... if ever you were going to pitch a bid it would be now. NM said expect corporate action... and it's coming. What do SOLG have in defence of a BHP bid at 55p? And don't say diverse book please!!! I think we're about to see the end game unfold as it normally starts like this.... need finance.... but dilution not welcome and buyer sniffing around who can put smiles on shareholders faces albeit at lower than its worth. I can see 55p going through unless it's countered and a bid war could see it through to 100p. Digger and Miners conference next week.... wonder whether we'll hear some news after that?
Well done Berry Street Capital, I am sure many would now be delighted to get 40p and get this mess over with.
Bubble their is a huge difference in raising funds for exploring and production.
You should at least understand the difference.
Minimum dilution for production, but all the money raised for further exploration is all dilution.
Hence my position.
As an aside, exactly the same thing happened at BCN.
They made a terrible ****-up whilst trying to raise cash and failed miserably. I got wind of this and sold out (I'm not going to do the same here). The company was forced into having to accept money from Gangfen and that was the beginning of the end.
We are by no means the copper equivalent of BCN, but their story is a clear warning about "strategic investors" taken on-board when a company's in a desperate position.
I wonder if Ingo's departure is related to all of this? It certainly raises suspicions.
Right, come on CGP, start firing a few broadsides - it's time the gloves came off.
Put the for sale sign up!!!
BSC were the ones that wanted the fund raise done 'after' the PFS was issued and not before. Ironic now that after the PFS they are now saying that they think its been mis-handled??
Good to see them pushing for a strategic review and sale of the business as it implies end game nears and when that AGM nears in Dec.... it really will be game over for many SOLG board members. They've tried valiantly to escape the grip of BHP and others and best case scenario would be to kick off an auction process and let Barrick and Rio et al enter the ring. Could see the sp in the mid 30's if you get a media report saying shareholder revolt and sale of business likely. Load up the truck!
Statement re SolGold Plc
Berry Street Capital Management LLP has been an investor in SolGold Plc (“the Company”) since late 2020. We have subsequently added to our exposure through public market share purchases as well as through the Company’s 2021 share offering.
As an investor in the Company, it has been very difficult to follow a great project being managed so poorly at the corporate level both before, and after, the publication of the Pre-Feasibility Study. In our view, the Company’s latest attempt to fund raise unfortunately only demonstrates the Management and the Board’s lack of understanding of 1) their shareholder base and 2) the basic mechanics of capital markets.
We believe the Board should represent the entire shareholder base and not only a select group who might be exercising control. Hence, we urge the Board to act fully independently and begin a strategic review imminently to initiate a sale process of the Company.
Top up time i think.
Joseph
Fortissimo - You goota be smoking the hopium and mainlining the copium.
Saying people can do their job and everything goon a be alright as the SP craters and instis leak their complaints to the market.
This is a co-ordinated and planned takedown to destroy the SP and sweep this up. BS in on this, management in on this.
Perfect timing as this drops in the middle of a world financial crisis.
After the BS note, I am now reviewing my prediction down and looking at a 20p SP by fundraise, plus a 10% discount, so a new 18p price for the issue.
Another week of this and I see that 17p or 16p is likely.
From the tone of their announcement it looks as if the suggestion of a failed fund raise in London my be true.
It's funny as there wa sa city rumour that BHP and NCM were going to make a bid. Redknight, we've been here before. You sell a few shares and then everything is all dire straits. You buy some and everything is all fab again. See how that looks?
They haven't tried to raise capital yet so you're rumour is untrue and unfounded. I know this as the new lady started just a few weeks ago and has been charged with exploring various options for finance. The cash pile is $26m which as you know will last for 4 months if pushed. There's no rush and the new lady will deliver. She's very good at what she does. Better than Ingo by a country mile.
Great find coldcut. The shareholder unrest begins! You'd think CGP will feel the same way.
Jeez.. is that genuine? I could have written that. Ouch.