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All price sensitive news has to be released before they can do any finance / funding otherwise it assists the insiders and that's not allowed. I think Scott knew very well that by the time SOLG hit Mid Feb, the auditors looking at the accounts from Dec 31st onwards would want clarity on going concern statement. So Scott knew he had to have the PFS out well before March 31st. Hence why he updated the market in early Dec about the early Q1 expectation. We know Franco were prepared to do another $50m but I think that was through to Sept 2023. If Osisko got 0.6%, then Franco would want the same now. If they do another round with Bob's Osisko outfit, then it would give Osisko 1.2% and Franco 1% royalty streams.
If SOLG were to do an equity raise at these low levels then it would send a message to the market that the Royalty stream option was no longer on the table as no management tam in their right mind would do 157m shares at sub 10p or even sub 15p when they could do a $50m royalty and buy themselves another 18 months+.
So they need news out first (for legal reasons) and then they can announce royalty deal or any funding they like. They might announce everything at the same time which would make sense to be honest... no point announcing PFS and then seeing the stock sag on known funding requirements.
That's why we're looking at a pretty heavy news month imho and long time overdue. It's been 18 months of utter zero from the CGP boys thus far. Absolutey zero. And don't forget... they'll want to justify their next rounds of bonuses lol! So just watch what happens over the next few days.
Given that the bank themselves acknowledge it takes 12-24 months for rate rises to have an affect, the correct thing to do would have been start cutting last April
But no. They’re too stupid and can’t see past the end of their noses, so they’ll cause a massive recession instead
Yes novice as you always know what you're talking about it must be right...
Gl
The MD&A should be quite something in absence of any news beforehand.
Not great news RE rate cuts today following US inflation figures. Rate cut probability cut from 50% to 30% for May. Conversely, I read that in the UK the BoE expects inflation to return to the 2% by April.
Surprisingly very assuring price actions here over the last couple of days with false drops to encourage sell off then in a few months, release the hounds as they say, once majority of shares in bigg II hands...😉
Just a little more time to hold on guys, AIMHO of course
Salaries for nothing at the moment for the people still at Solg towers..
Orthern - on balance of probability, I'm expecting the same.
Which would suggest no newsflow planning. No excitment. No clarity on next milestones - IPA, PFS, funding etc.
SOLG need to start demonstrating tangible progress. Not limp soundbites to get them through another few months.
I hope Im wrong, but I expect only the MDA this week, with just a vague, brief non comital mention about the need to raise funds… and no further supplementary plan for the immediate term.. Solg is what Solg is..
Thanks, makes sense! Last few years have been 14th, 15th and 12th
1984 - MD&A needs to be filed on SEDAR within 45 days of quarter end.
So by end of Wed 14th Canadian time. Which could mean an RNS before UK open on Thu 15th.
They have to be submitted by the 14th and I think because of the time difference they're released on this market the day after.
Why Thursday?
BBG,
I'm sure you're right as addicknt stated yesterday... Bob has already said no more equity raises. So any funding has to come from his Osisko buddies if ENSA related or Franco or Mitsui or???. Remember, funds need to be ring fenced for ENSA vs exploration spend. The latter is the same (in my opinion) so any sale of Porvenir needs to go back into exploration and not toward ENSA. So Royalty deal looks the only way forwards on Alpala.
What surprises me is the lack of buying by the chinese. I would have thought they would have nicked another 1%+ from open market with sp sub 8p levels (half of what they paid eg 16p). But I guess one reason is that they might be licked into NDA's and hence trading ban as in negotiations to take Alpala on.
New 52 weeks low! I am curious what BBG is basing his wild pronouncements on? The only thing Scott has been successful at so far is overseeing the decimation of the SP. Scott is indeed the destroyer of dreams!
Subby.
Have a look at the bar scene in star wars, and maybe the life of walter mitty, and maybe have a peep at Alice in wonderland.
Then and only then consider getting involved with this board.
Be afraid, be very afraid
We won't need a DFS and the reason for holding up any PFS update would be to ensure the next funding requirement is secured.
I won't be surprised if NSR is locked in and regional asset is sold in conjunction with releasing the revised PFS.
Scott will counter all your doubts very shortly
You'd hope they have a plan for the 'flow' of news as ultimately one can effect the other. The MD&A will show cash balance to Dec 31st which could be as low as $12m. So that raises questions right away about how they are going to fund next 6 months or 12. When PFS lands... questions will be asked about what's next? And there's 'exploration' which is much needed but we have no money for. Basically it all comes down to money... without it... we can't progress PFS to DFS. We can't explore. And we can barely cover the $6m due for the 60 odd licence blocks within the folio.
So yes... Scot and co better have some answers lined up or else Mr market is going to get the vasaline out and out on the surgical gloves for a more detailed inspection and that's gonna hurt!
PFS before or after MD&A?
Thanks all for the feed back guys,,,I’m still no further forwards or backwards (if that makes any sense). Why not buy some more there cheap enough! 😂 😂
I do check in on here from time to time and do enjoy the banter but never get involved.
GLA!
I bet £100 at 50/1 that Trump would be the next president shortly after the senile old twit Biden got power. But that’s not the only reason I’d be smug about him returning
People in the U.K. would be licking their lips at the prospect of a leader who vowed to end DEI on day one, is pro business and growth and anti immigration, and understands that a woman cannot have meat and two veg
Subby77,
it certainly is a puzzle as fund manager data via morningstar also confirms that there have been limited sellers over last few quarters and infact more buyers. We did loose fidelity and blackrock a while ago along with some smaller players like Berry Street Capital which capitulated due to waning retail interest across their folios (as mentioned by Addicknt.)
Since the sp hit 42p a while ago, SOLG now owns an extra 15% of the Tier1 asset so 100% owned. Has numerous red tape and early development studies concluded. Shareholder register bolstered with Chinese state interest. Gold prices near all time highs, Copper up around 20% on average over last 5 years. Copper shortage looming. The list goes on. Yet here we are rock bottom at near multi year lows. We even have an additional asset in Porvenir proven up to a level that is comparable to some other ecuador mines which are seeing cash injections from chinese to the tune of $130m+. So basically we are priced on Porvenir value only at present and the Tier1 asset which Franco, osisko invested $150m cash combined based on royalty deals ... apparently valued at zero. It's a world that makes no sense. It's a world where Putin can invade Ukraine and Nato, US and UK arm them to defend themselves yet when Israel invades Palestine and commiting war crimes, the US, UK and Nato just stand by and watch and do zilch! It's a world where the US has a president that can barely stand up straight, has poor memory and can't string a sentence together and on top of that, the best replacement they can find is Donald trump, who seems to be in court more times than a mexican immigrant who incidentally the formaer has tried to build a wall around which makes the Israeli's efforts look like a ha ha.
How's that all sound.... wonky weird... lacking in humanity and common sense.
24.11.22 // Jiangxi becomes investor in SolGold
https://www.miningweekly.com/article/jiangxi-becomes-investor-in-solgold-2022-11-24#:~:text=London%2D%20and%20Toronto%2Dlisted%20SolGold,company%20owning%206.3%25%20of%20SolGold.
03.02.23 // Govt expects Cascabel pre-construction to kick of end of 2023 and construction in 2024
https://www.bnamericas.com/en/news/ecuador-expects-us3bn-construction-of-2-mines-to-kick-off-next-year
24.02.23 // Solgold completes merger with Cornerstone. Solgold controls 100% of Co.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2150-tsx/solg/136871-solgold-completes-cornerstone-merger.html
16.05.23 // Solgold to explore phased development of Cascabel
https://www.mining.com/subscribe-login/?id=1117994
20.07.23 // Exploitation & Investment protection agreed between Solgold & Government
https://www.mining-technology.com/news/solgold-sheet-ecuador-cascabel/?cf-view
09.08.23 // Ecuador halts mining licences and approvals, with Solgold's Cascabel being an exception to the ruling
https://www.mining.com/subscribe-login/?id=1124361
01.12.23 // Porvenir project update - Porvenir includes a cluster of porphyry copper-gold targets. The Cacharposa anomaly coincides an open-pit mineral resource estimate comprising 396.8 Mt @ 0.44% CuEq for 1.40 Mt Cu and 1.80 Moz Au in the indicated category, plus 96.9 Mt @ 0.37% CuEq for 0.28 Mt Cu and 0.38 Moz Au in the inferred category.
https://polaris.brighterir.com/public/solgold/news/rns/story/x4o89ow
14.12.23 // Solgold receives environmental license from Govt. to carry out certain underground activities
https://solgold.com.au/solgold-plc-announces-reminder-to-vote-at-agm-cascabel-update/
16.12.23 // “Solgold is a once in a lifetime investment opportunity and will be acquired” W. Middlekoop
https://www.youtube.com/watch?v=gYSRF6Tw3Tc
21.12.23 // Solgold CEO receives full support at AGM
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2150-tsx/solg/153335-solgold-plc-announces-result-of-agm-3.html
The next 6 months will be life changing and will bring much wealth to our families!!!
Intelligent?! I just spat my coffee out laughing
Imagine a parallel world where there are only electric cars and someone invents the internal combustion engine.
Cars are halved in weight, 50% cheaper, can be fully charged in 3 minutes and run twice as far on that charge as an EV
The demand would be such that they’d be flying off the forecourts. EVs would be finished
And that is basically the problem! They’re expensive and crap and nobody wants them
Your confidence in the world sleepwalking into a deeper climate disaster is actually some comfort to the more intelligent amongst us, slug. If a man who is usually wrong calls something and you disagree, you're golden 👍
You’d be right,
Sells: 66 vol 678596
Buys: 98 vol 1793633
Uknown: 14 vol 259950