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Morning all, The silence from Solg hq is deafening ,I'm going for a 2pm rns with good news. Another email@example.com in the swag bag for me,it may go lower but to me the backlog of news will propel this higher when it gets released. Gla and enjoy the ride. Fj.
There would have to have been a RNS by now as this is material...so we must conclude that the $50m wasn't taken up...
I am clear from Nick's presentations and RNSs that the whole $150m was needed to get us to DFS/CFP, which Nick is now projecting as maybe as late as 2022...
Unless he issues more shares instead...
Remember, as well as all the PFS, revised MRE, DFS, CFP stuff, SOLG has also been drilling Tandayama-America and revising the mine design (at even greater expense), neither of which were in the previous plans...
So I'm drawn to a simple conclusion:
Either there will be a further equity issue, stated as "to take SOLG to DFS by end 2021" taken up inter alia by BHP, NCM and Valuestone, or...
SOLG is in talks about a JV for Alpala or has received an informal bid approach, meaning that they must have RNS radio silence until they have reached the point where they can announce something...
Of course we may even see a share price surge followed by either "we know of no reason for the recent share price movements" or...which teases out what is really going on behind the seasons...
Finally, I received an email from Eliza yesterday which included the phrase:
"And this could be Solgold's most momentous year to date..."
Solg could have presented two possibilities to FNV: 1) we use the $100m to get to DFS, and then we try to secure funding to take this to production ourselves, aiming to begin production sometime around 2027, or 2) we use the $100m to get to DFS and then either sell Alpala/Solg to a major or do a JV on Alpala with a major (on better terms thanks to further de-risking), and that major has the money, experience and incentive to build the mine and bring it to production as quickly as possible.
Option 2) sounds a less risky proposition for FNV in terms of the mine getting built and them starting to receive their royalty doesn't it? In fact they have had the opportunity to get an NSR on Alpala even if a major builds it, which they probably would never have got if the majors owned it now.
Sorry Redknight, you spend yesterday answering a question, I didn't ask, and then insist I did, and now you seem to be suggesting that I have said you will sell out cheap. Could you please find me any post that uses your name and says you will sell up cheap. Like yesterday, you appear to be playing the Earthling game, and stating things, that I have never said, and keep on asserting that I did. Please find me a post, where I accuse you of selling cheap. That should keep you occupied for the rest of your life.
And that would be totally fine. From July - Sept it was trading in a range around 25/26p. Since Oct it's settled into a range around 35p. All good. Now we await the next news that will hopefully push it higher again. Bouncing down to 32/33 and back up again really is no drama.
Quady - Of course he doesn’t! I filtered this joker last week as he is clearly de-ramping trying to buy in lower! My advice is to filter this poster as its a complete waste of time entering into any kind of rational conversation with him and he adds absolutely nothing to the discussions on this board!
I have never disagreed that it is theoretically possible to go it alone, but I frankly do not believe itv will happn...
Because on the one hand there is too much outside interest in SOLG and...
I do not believe there is any way at present it could be financed at economically acceptable terms
Like you I have huge experience of capital markets...I launched the first ever European bond issue in Financial Services to raise £100m and have done many huge scale direct and/or derivative supported transactions. As you know I've also been an AIM GFD and Head of Corporate Finance for CA firm.
I agree that in theory the finance is available, but find me just one Mining Finance funding dealing the last 2/3 years that comes remotely close to what SOLG needs...
Of course Nick/Ingo may have $1 billion of streaming offers on the table and I wouldn't be surprised if much of that is from Chinese actors and/or FNV and WPM, but as I posted yesterday, the Franco Nevada increased from a liability of $100m to $158m in just 16 days, as stated in the SOLG 30 Sept Quarterly report...
And for example Wheaton recently did a gold/silver/palladium streaming deal that gets them metals at between 18 and 22% of the spot price for gold and/or silver...
Nobody has seen the PRICING terms for SOLG's FNV deal...if they had done $1 billion instead of $100m it would have stood at $1.58 billion only 16 days later...
In your intelligent note you mention "secured bonds, convertible or otherwise, royalty deals or even a rights issue"...two of those involve significant dilution...
Irrespective of the merits or demerits of SXX they could not even raise the initial $500m that would secure the total package of c$4 billion and that was in the last 2/3 years...
So I repeat, realistically the only way SOLG can develop Alpala is by way of JV, piggybacking the cash resources and/or funding capability of say BHP or NCM.
They need to do that quickly IMO because even last August SOLG was "the hottest takeover story in the City"
If I were GFD of SOLG, I would JV Alpala with NCM and IPO Green Rock and then sail all the way into the sunset developing each of our prospecting gems, one by one until SOLG was a major miner...
But I fear we may not be able to avoid predatory interest much longer...
Yes he has funds for almost a year and the next risk to his salary is in 3 years. I await the letter asking for his support in that time. Look at what I have in the ground! Trust me, I know what I'm doing, I've done this before! I CAN GO TO PRODUCTION. OH,Wait, no I HAVEN'T. LOL GLA. ATVB
They already funded for most of next year. I heard a lot of concerns about dilution but with the expensive surveys and testing already complete and the drill rigs they had been building for a while a lot of the expensive stuff was done and diluted minimally a while back before I was invested, we can sit back and await the drill results on targets which have been refined, that’s where the real money is to be made. Feel like I got onboard this at the right time.