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Been thinking….. Maxit could have raised money at any point in the last few months had they wanted to…… it’s what they do.
It’s very possible they haven’t done because they know they won’t need it. Potentially the same with the revised PFS .
Whether the money is coming from a takeover or not I’m not sure. Even $50-100m for say Porvenir would see us funded for a few years.
It’s very easy to think the world is ending when we’re staring at a screenful of red numbers.
There is momentum building in some quarters over here, for support for a class action to be bought against mather and the solg board.
Btw if Caldwell announces the PFS as a stand alone piece of news with no forward plans or financing attached, the share price will plummet further. The trouble is I'm not sure that he is smart enough to figure that out, so expect him to announce it stand alone. It will likely include some wonderful projections and cost savings, but no clear path forward. SOLG has less than zero credibility left with the market, so only hard evidence and "cash in the bank" will be believed, anything else is just words into the ether Scott.
Time to split the company up Scott (actually that time was long ago, but better late than never I guess...). You have wasted enough time waiting around for potential bidders, who have had more than enough time to make their bids. Obviously the bids are not coming, so lets start moving onto plan B. Desperate times...
It's all staring to make sense now as to why Caldwell was able to gain 98% of the votes cast at the AGM. The big shareholders are more than happy with what he has done to the share price, why else would they possible vote for him?
Yes but slug , nobody has offered even $1 for Solgold as far as I know , and it doesn't look likely either. And no I must decline your offer as the heat pump is bust. But under guarantee as only 8 months old.
Fort, re: your reference to Noboa and political wins...
... After the last 18 months I reluctantly feel the days of Cascabel being the poster child for Ecuador mining development have gone.
Look at the progress others (Solaris, Lundin) are making. Solgold don't get many mentions now. The largest concession holder in Ecuador and nothing happening - mothballed.
Not even bothering to attend conferences to sell the Cascabel (and wider exploration) story.
Maybe I'm just ground down - but the 'it will all happen in the next 3-6 months' suggestions are getting tiresome...
... particularly with the current clowns in charge. Who don't seem to know how to set guidance and meet suggested deadlines.
Orthen people comment according to their position, in or out, long or short. I never pay attention to anyone else (certainly not a BB) but myself whilst realising that just because I think I'm right. It doesn't necessarily mean I am. Only time will tell.
I personally won’t sign it. In my day trading activities I am making more from short positions than long ones currently.
I understand the sentiment and broadly support it in concept, after all it helped protect the banks post crash when they banned shorting for while
But on balance I want all tools available to me to press home my advantage over the common garden idiots
I’ve made a petition – will you sign it? I need 5 people to sign the link to make it live
Click this link to sign the petition:
https://petition.parliament.uk/petitions/657294/sponsors/new?token=EMIgM07k9Zj3akpbgXJc
My petition:
Make short selling shares illegal in the UK, like Germany and others.
Short selling of stocks in the UK causes instability in companies share prices. In many cases £millions can be wiped off the value of a company by coordinated groups of short sellers spreading misinformation and rumours, causing investors to panic and sell their stock.
How on earth can some other company loan out something you own without your consent and the company or person who has borrowed it use it to influence the market in the opposite direction with the massive percentages of shares they are able to borrow and not own outright? Its fraudulent and corrupt, legal theft authorised by the government and needs to be banned and stopped.
Click this link to sign the petition:
https://petition.parliament.uk/petitions/657294/sponsors/new?token=EMIgM07k9Zj3akpbgXJc
Fort, for clarity, didn't you say that if we went into AGM '23 (which in 2022 you said definitely wouldn't happen) at a 'low' sp, there would be major problems for the board? Yet they sailed through the AGM (which definitely did happen) and the SP has continued to slide since. So 'there will be fireworks' is utter rubbish, isn't it?
No one on here knows anything HFH… you’re in good company.
Well, one thing is sure, they have under 6 weeks left to end of Q1. There's then 3 months after that through to June 30th. Noboa needs some big news to bolster elections bid next year so he's motivated in big way so I expect red tape issues to get announced when 'strategically' advantageous...
You might get a scenario whereby you see
1. PFS3 delivered... sp nudges back toward 10p levels or 12p
2. News on IPA agreement circa April and sp nudges back to 14p levels along with interest rate cutting background to markets etc etc eg bullish for commods and QE from china as super powers fight out the great growth economy battles.
3. Then you get 157m shares issued to chinese for 15p/16p level. (bit cheaper than last time around)
4. Then you get director bonus shares awards announced etc etc 16p/17p (anything cheaper and there will be a fireworks)
5. Then you get news on SR outcome
6. Then you get bid approach announced
7. Then you get some proper counter bid action
8. Then you can leave this sorry BB and never return again leaving the greenline nutters talking to themselves
Might take from Q1 to Q3 to unfold... but it's coming and the market backdrop should be 'risk on' again once those rates start dropping and cash has to start working again across equities.
Not long to wait.
Gaz I’ll give you £5000 for your house
If nobody else is interested I’ll get it right? Otherwise I’ll just wait for you to go bust and I’ll bid £1000 and hope nobody else wants it
Remember: The value of shares here can fall as well as plummet. Need a 7 or 8X to get back to previous highs. Still holding.
i look at it that directors wouldn't have still be buying shares at late as last october, around 10p i think, if they weren't confident of the outcome. scott has been criticised for his open ended strategic review but let's not forget he has millions of shares so like other insiders like bob and nick, they have a lot more to lose than us.
so i'll go against the negativity and believe there's a big difference from us thinking they are doing nothing and them actually doing nothing. personally i think the pfs will be out a lot sooner than the maximum of 6 weeks stated. i also believe the strategic review, at least in part must be delivered by the end of q2. that could mean them divesting themselves of all assets not associated with cascabel, or selling part or all of ot instead, or indeed the whole company. but divesting themselves of assets is the only way to give them a decent financial runway moving forward.
one or two pieces of positive news will make everyone feel more at ease. i'm giving in until the end of q2 at least, but i'm risk adverse, so if i lose everything so be it. i know some on here think i know nothing but i assure everyone, the last thing i'd ever do is give a **** what they say or think. good luck to those who choose to stay and see how this plays out.
Drake , you told us all BHP would be buying once the cuffs were off many years ago. It didn't happen. You talk a very good talk , you obviously think about this stuff in your sleep.
Unfortunately you are always wrong.
Absolutely agree .... it can't continue like this. But the pathway to monetisation clearly involves the Ecuador Gov, IPA discussions, tailings permits/land purchases and so on. Lasso's team seemed pretty good and Noboa's team look the same so it's frustrating to see our management team make such slow progress on all these red tap issues. I guess the key question revolves around where to cut off exploration and start development in terms of red tape agreements as each has implications. In today's RNS the Ecuadorian mining chief responsible for production wants the IPA discussions to include tweaks to the previous agreements. This stuff should have been sorted last year to be frank. Scott and Bob have dropped the ball there and taken way too long. Now they are saying the IPA will be finalised before June 30th 2024.
At the end of the day... SOLG can only go as fast as the management team allow. Fast and smart is now best described as Slow and stupid and Bob's notorious Bat is looking like a chocolate fire guard.
One can only assume that today's news is the 'bad stuff' and that needed to be out there before they could start rolling out the good stuff or agreeing next injection of cash. They could have easily managed the accounts to give a better cash figure but instead decided to throw in $10m into the quarter. That was more than even I was expecting and double what DBW and others thought likely. No sign of cost savings there if you strip out the comparabel exploration costs from last year.
Bottom line is... they are still tieing up the red tape stuff, cash pile is around $10m right now and PFS still on track for Q1 apparently. You'd think that was all priced in at 7p levels lol! But in this market, if they squeeze some a bit more, then they will.
This will bounce back fast when they finally deliver news that shows progress rather than promises and the list below is what we need
1. PFS
2. IPA
3. Cash balance boosting
4. SR outcome
Over the last 6 months... and based on today's news... they've achieved absolutely nothing. But Q1 should have two of the above sorted lol! The other two might follow aroiund the same time... who knows!!??
I wanna sell my house slug , nobody wants to buy it. I've wanted to sell it for years , no takers.
Quady I know you’re stubborn and possibly autistic, but I can assure you that Nick Mather has repeatedly said or implied that he wants to sell cascabel
Was it via DGR he said their model is to prove
Up assets then sell them on?
There are none so blind as those who cannot see
Drake spouting the same old rubbish , will he ever learn?
I think you are right Quady.
I absolutely get some groundwork is needed to establish how solg might respond to the many possible genres of offer (were any to appear over the horizon). JV, sell off a subsidiary for fair value (which is ..?) or wholesale takeover. The board would have to defensively reject, or put same to shareholders with a recommendation which one hopes would be rooted in commercial logic. But there is no need to call it an endless strategic review. That sounds vague, indecisive and it is bound to be damaging for the share price. Which it is being. And if Scott is a sufficient muppet not to see this connection (unlikely) then he has heavily invested colleagues who would be having a word. And CEOs work with major shareholders who would also be venting. I can’t see them jointly or severally wanting to put the ship into these unnavigable shallows unless it is to trigger some corporate activity. Once we are finally in play, as many have said, the price is set by the runner-up’s bailing point, not where we are languishing right now. I b* well hope this is the last change to climb aboard before someone finally blinks and the dogs of acquisition are at last unleashed.
Covgaz you are coect , we are required to go to production, only then may we get an offer.
I have known this since 2015 when Nick Mather said we are going to be a miner.
Your scenario is exactly what will happen if we don't go to production.
... but it can't last forever Fort.
Clearly the market isn't thinking much is being achieved? And lack of updates/details on progress reinforces that concern.