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Have been watching people commenting on the strategic review.
Let's do simple first.
Slug reckons no strategic review. That's rubbish as it's been announced by the company and has also stated it's aims.
Hence why he remains the most unintelligent poster on here.
The stated aims of the strategic review is to find the best way to advance Cascabel.
That will include the outcome of PFS3 and the financing.
We will soon have a much clearer picture of the way forward.
People have waited this long, they can wait a little longer.
22:39 it hasn't been done over a lunch , its 18 months and counting without any updates.
Thank you for getting to the heart of the matter , whether we like it as investors or not , I have learned so much from your posting , hope this ends well
Bozi I agree, to suggest a strategic review can be completed over a lunch is simply naive. It's fine saying they must sell Cascabel, but even if they do, they must decide what they would sell it for, does this fund more exploration, what happens to Porvenir, Blanca-Nieves etc, or of the PFS has a lower entry to develop, whether you sell the other assets instead. There are so many variables..that's surely WHY they are doing the strategic review? Either way, I'm sorry but it's not done over a lunch.
Bozi, the only acceptable deal for Mather & co is a sale of Cascabel (or the whole company) that provides them with a return. In my mind, this is not a proper strategic review as they have already decided the outcome they want. They will buy as much time as they can until this materialises, and keep cash in the bank via a sale of the Subsidiary Shares for as long as possible. I agree that a sale takes time and that pride will ultimately have to be swallowed.
Fort - there is nothing stopping the company placing the shares to Jiangxi at a premium if the appetite is there. This makes much more sense for all involved than another royalty deal.
What's the chosen path Bozi?
No it hasn't. The strategic review doesn't reach a conclusion until they have secured an acceptable deal in line with their chosen path.
I agree they've been at it long enough but to suggest this is done in a day is so far wide of the mark that frankly you're showing yourself up.
I suspect they're struggling to extract the value they anticipated. There will hsve to be some pride swallowed somewhere.
Slug every day becomes more depressing.
I didn't mean to challenge you.
It's a thing around here , we're all a bit pee8d off. Hopefully one day not too soon it will all turn around but I don't see it until around 3.5p.
Bbg. You seem to be unraveling before our very eyes.
Also your constant child like pleading for Andrew forrest and fmg to take us onboard is absurd.
Do some research. He just lost a billion dollars on a nickel mine he brought last year.
I think you will find he's keeping a low profile.
For an alleged Australian your not to well informed about much Australian.
Gaz, I’ve always said the only outcome here is a sale, it hasn’t just dawned on me at ten to ten tonight
That opinion is mutually exclusive to the one praising Sharket’s post
Jesus, the mental gymnastics of people these days seriously concerns me.
Bozi. Utter BS. How long have they had to decide what to do? I’d they’re inviting companies in under DD then the strategic review has already reached its conclusion
Given this Motley crew couldn’t organise a knees up in a brewery, let alone advertise in French, it’s clear to the market, the media, investors, and the world population as a whole aside from you and Quady that the only option is a sale
You're a genius pal.
Tick tok eh Drake?
Not sure your last sentence makes sense as surely another Osisko royalty is most likely. Bob benefits of course as he's related party to Osisko so perhaps that's why the sp has been allowed to sag on zero news? Suits Bob near term doesn't it?
Remember, if a major takes this on, they can buy the royalty back or a wedge of it which translates into nice profit. It's like a loan in some ways.
They can't issue shares at sub 15p, as it makes no sense compared to royalty deal. Nice one Bob.
Well most people would be wrong 1984.
A strategic review doesn't just involve choosing the favored path forward. It also involves collecting expressions of interest, exchanging data under DD and even negotiating.
One thing the company is right to do is not provide an end date for the process. Just because they aren't doesn't mwan the process isn't happening. It clearly is. There's no smokescreen at all. Those who think there is clearly know nothing about business.
It's just a shame the CGp crew chose to rationalise the SP when they rationalised the company. It has worked against them in the sense that they'd struggle to get a scheme of arrangement through for the sort of area where any suitor would be bidding. They tied their own noose there really.
Slug.......everyone already knew that , have you just learned that from Sharketmades post @ 21:53?
Superb post. The options have always been sell or sell
We have known for some time now that SOLG wants to sell Cascabel. Cuzzubbo has literally claimed this in COURT DOCUMENTS. The man has no reason to lie as doing so would have his claim for unfair dismissal chucked out of court and ruin any chance of winning the $2.3m + options he is seeking. There are now a host of SOLG ex employees who - depending on their feelings towards Mather, current management and the future of SOLG, could quite easily corroborate his claims.
Incidentally, I think our chances of receiving further funding from Franco Nevada went down the drain at a similar time to his dismissal, given that we opted to go with Osisko instead, and Sangha allegedly went berserk at DC when he informed them before the Osisko deal had been made public.
We seem to have forgotten that we have a reputation in the mining world for awful corporate governance, which further reinforces my belief that we have absolutely no hope in hell of being able to raise finance to develop Cascabel on our own. And given that every man and his dog knows we want to flog our main asset, what serious, institutional investor would bet - and it is a bet - that SOLG's current management team is the right one to build a block cave mine in Ecuador?! The prospectus would be passed around the office like a bad joke at this stage.
It's a case of keeping the lights on with the Cornerstone shares if required until someone either buys us out entirely or takes Cascabel.
Ask yourself this instead then, how long do you think a strategic review should take?
What are the options and what are the pros and cons?
I guess most people would understand it could be discussed over a long lunch and decided that day
Well you're making the assumption there's no strategic review on the fact there's only one asset, and there's multiple assets, which is the purpose of the review..what to develop, what to JV, what to sell, or whether to sell everything. Just my opinion, you are all welcome to have yours, that the review is fictional.
Correct, glad someone else can see the ruse but I’m not awfully surprised given the Naivety of the common garden idiot
As they say…
1% of the population control the world
4% are their puppets
90% are sleeping zombies
5% are trying to wake the zombies
The 1% makes sure that the 4% stop the 5% from waking up the 90%
There isn't one because it simply doesn't take 12 months to evaluate the best way forward with Cascabel. The fact that it is 1) indefinite 2) we haven't heard anything at all in terms of progress either implies that there are no good options, or that the SR is a tactic to buy time while management pursues a sale at all costs. To me that explains then persistent downward pressure on the share price, and leaves us vulnerable and praying for a sale. PFS3 might be our way out of the pickle, if we are able to demonstrate a phased approach that we could feasibly fund ourselves.
Remember, PFS3 is a separate workstream to the SR, and only came about when "fast and smart" died a (quick) death and Caldwell pivoted from "Cascabel has been adequately studied" to "we are producing another study".
All money in here is dead Drake , atm , I should suspect most of it is already out. Just you and I holding maybe , keeping the SP in the 6's.
Don't you keep banging on about the manipulation?
If you are correct , the money isn't dead ,is it , it's being manipulated.
Cashed up and keen on diversification away from iron ore.
Lets to do it Twiggy!!!
Citi proposed Oz min in 2019 however that deal has come and gone. Citi has advised Fortescue and they also advise someone else...
https://www.fool.com.au/2019/07/10/citi-picks-the-next-big-mining-ma-play-on-the-asx/
Cashed up and keen on diversification away from iron ore.
Lets to do it Twiggy!!!