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Good to see Cascabel going to production, Where is Nick Mather?
Fortissiom
Why the attack rather than a reasoned argument. I respect your views as much as anyone.
I have not knee jerked into this.
Remember I've drafted and published RNSs and read thousands.
In my opinion they are throwing in all the currently known information, but we should instead have had a carefully managed flow of drill results to keep people hungry.
This RNS nakedly says "we need the money...all at once..."
But at what price...and if the City rumours are true, who led the failed raise and why did Peel Hunt go.
Fortissimo. Of course it's not in the interests of all shareholders, namely is. That's the point. For every winner, there has to be losers. No value is created in a financing, just a shift in power. You are FAR too optimistic, to the point of delusion, if you think that Boliden or someone else, or a fundraiser at 32p or 36p is forthcoming. Go look up the term MOPE ( Management of Perception Economics ) otherwise known as spin, if you remember the Blair govt term. This is laying the ground for a lowball funding by BHP, the reasoning being that SOLG warned you about this and you could/should have sold out when the news hit. Only yourself to blame. 20p raise, BHP up to 30% and a bid in the pipeline, all managerial technocrats move on with bulging pockets, a recommendation from the Old Boys' Network and a promotion to their next victim. Don't hate the player, hate the game..........
Paddling our own canoe is getting us nowhere…. Our board need to grow a brain, accept reality and get it sold or joint ventured… stop with the delusions of grandeur
Lunchmoney I don't realy think you can claimed the pfs dedline was early that is just pure spin
It was actually a year over due.
If we are concentrating on cascabel we don't need
800 emplyes doing nothing
I'm all for helping Equidorins improve there quality of life but it's not a free lunch on me
And yes sadly and before anyone says it if you don't like it sell your shares
I will be if I can servie one mor pump into the early 30s I'm gonna
It’s Standard Solgold protocol…. Why do a raise at recent mid 30s, when you can give the markets silence, and wait for the price to slide back to mid 20s before doing one…. It’s a mad logic, but one our board have repeated.
Anyone with a brain knew we were needing to raise funds… so that in itself it’s not new news, what is disappointing is the clear sense of no new innovative monetising event other than an equity raise…
redknight1, what are you blabbering on about? You sound like that RNS has come as a shock to you. Where have you been? The RNS says exactly what we already know apart from you! We all knew that funds were required to take us to DFS. But like I said a while ago, it's up to the likes of NCM and BHP if they want to take part in equity raise at a decent price like 32p or 36p. Any lower and it's not in interests of all shareholders and I suspect Boliden will step in for $100m donation in exchange for same royalty deal as Franco. BHP can't spit dummies out if they are not willing to fund the business in the 30's. Simple as that. Norges will have your 300k with delight. This RNS only delivers one bit of unknown news. And that's the cash pile total of $26m. That gives us about 4 months to get this finance sorted if taken to the wire or 3 months being more realistic so likely to happen in September when market returns to proper business.
Some real flappers around these days. Everyone wants a slice of SOLG so any funding will be a easy to sort. The rest of your speculation is nonsense.
Redknight,
Yep I agree, but the end of the day it still would have been said
Atb
More like drift the price down over the next 3 months a the fundraiser is organised, " 20p best we could do " , BHP stake now at 30% after placement, Cuzz has new motor-launch and drives off into the sunset.
Red .... hope all good?
I tend to take a view that this will be pre-planned and "they" are fully aware how the market will react ... I will be increasing my stake here
Mathers...your logic is sound as always, but why oh why put out a rambling incoherent RNS FLAGGING an equity raise, where any good news such as Helipuerto is lost in the noise.
I'm sorry but its starting to look like Darryl has no idea about managing London markets and investor expectations...even Nick wasn't this bad...
Sound bite management doesn't work.
We should have had meaty, substantiated drilling news; a separate RNS about Helipuerto supported by sexy drilling results and assays....
And then a managed equity raise instead of this tosh which has left the company a hostage to fortune.
I would love to be wrong in m y timing if a bid obliterates all this.
Great. This new team come in, all pumped up and full of spunk, then get given a hard lesson in the realities of the market. They, and we, realise that the last lot tried harder and were better than we all gave them credit for, and this new lot are more confident and less capable than we would like to believe. Thus, we end up with another 20p fundraising. Please prove me wrong.
Seen this before
Watch this drift now .... they must have been fully aware of the market reaction .... these shares will then be soaked up by those "in the know" before a corporate announcement that will most likely wow the market and many will be left high and dry ..... it stinks of duplicity
Sean,
Just googled it, no I’m not but it’s interesting to see how people come up with something when what is written doesn’t please them
Atb
Hi Guys
This RNS is a car crash with obvious implications.
I think we're looking at a $100m raise.
Of course it could be designed to flush out a bid, but...
I've sent a long and scathing comment to the Company.
In a four year car crash of RNS ineptitude this is one of the worst...
Yes they'll get a raise away...
Yes the Nomad will try to support the SP...
Then the SP will slip back after the raise...
AIMO of course but I've sold another 300,000 today...
Utterly inept and it is my opinion that Ingo has gone because he didn't agree with what was going on...a prospective equity raise by a CEO and CFO who have no idea whatsoever about managing London markets...
There is already word in the City that SOLG has tried and failed with an equity raise...also a rumour yesterday that Peel Hunt have gone....says it all really...!
Mather ..... Don't ask S to do your homework for you, look it up yourself.
Mathersfinger - forever the eternal optimist.
One day you’re going to wake up dead waiting for this wedding stock to ride!
Another day another local recruited by Solg, no doubt.
Z
Sean,
Never heard that expression a shill, would you care to explain the meaning
Mathersfinger, you do that most of us are here to make money from our investment and not to go on a magical, decades long journey through the junior miner cycle?
We were at 26p in 2017 and we are at 26p today. That's despite all the new discoveries and proving up of this mammoth, world class resource since then.
And you accuse of of "bleating"?
An unkind person would suspect you were a shill of some sort. Not I of course. But come on, we are surely entitled to our opinions and there isn't much to be positive about this morning. Or this time next year.
There's only 2 words that matter in that RNS: "equity raise".
All the other stuff is wishful nonsense and smoke and mirrors , because right now, at this stage, if they had ANY realistic alternatives in place to an equity raise they would have waited till they were successfully pursuing them and wouldn't have released this nothing burger of an RNS at all.
Pretty clear from here on in, any increase in the MCAP will be matched by an increase in new shares printed. Once again, the small retail investor with a static holding finds himself at the bottom of an escalator, wanting to climb it, and the DOWN button is about to be switched on .
I'm finally realising why I keep hearing Kate Bush's "Running Up That Hill" on the radio this summer. It's our theme tune.
One thing which was interesting was the mention of "strategic investors". Was this mentioned in order to get BHP in line? I'm not sure how happy they'd be if another major popped up on the register.
I wonder at what stage will BHP say enough is enough? Surely they're going to have to make up their minds at some point and perhaps the potential emergence of a competitor as a significant shareholder would be it?
A disappointing damp squib of an RNS! Thanks Solgold!
We all knew at some point money needed to be raised, now everyone is bleating about it not knowing how they intend to do it exactly.
So the rest of the RNS is ignored, why?
You see what you want to see and look forward to your next moan, weird to say the least.
This board is becoming a miserable place to unleash your frustrations out without seeing any upside, eggs and omelettes
Atb
Ingo wouldn't have let a rambling RNS like this, full of innuendo, go out...
Remember, he did the cash box....innovative and successful...
We can assume an equity raise...with all the fluff and courting of major investors, they will participate...
The Nomad will be supporting the SP...
The raise will be seen to go quite well and...
The SPwilll drop back after leaving bargain hunting opportunities...
I could be completely wrong but to cover off all the mentioned bases surely you need up to $100m...
Glad I switched some stock into ATYM last week...
I'll be back...
Agreed… apart from the warintza overspill information, which was nice to hear, this does seem like an odd RNS.
Have they completely failed to get others interested in our regionals?