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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.
If a company had good news it would surely release it, especially in a falling share price, to bolster it? I suggest that the results are not good and Nick is trying to gain more funding before letting the bad news loose to the world!
I think they just busy working on the PFS. We had webinars none stop last year when there wasn’t any news so the silence can only be seen as a good thing and we know they are busy. News Thursday hopefully. Imagine if PFS and 4 potential tier one drill updates all happen at once. I think regional updates first though so they are included in the broker updates. Lots of potential for little downside. Already seen what porv did to the price imagine what Rio target will do.
Hi CD In the article you posted on Sunday it mentioned that one of the candidates Arauz had links with a former hard left Ecuadorian leader. I know little of politics in Ecuador. Is there a possibility Ecuador could turn into another Venezuela?
How many times do we hear people on this BB say news coming?, No one knows what happening its all just guess work What we do know is that this share will be severely diluted and more shares issued soon to fund the progress that SOLG want to pursue All of our asset will be reduced very soon when Nick gets more funding in This is fine if you have years to wait for a return!
it's almost a month since the last update pre AGM, so plenty of metres drilled and a few more assays sorted. Not sure you'll get all thoe assays considering the festive period (allow around a week off) but the labs won't be short of cores that's for sure.
I think it's fair to say the Franco deadline has passed. Not like NM to pass up on $50m unless he has other options. But don't assume that means he's back sipping tea with BHP and NCM. The next RNS could just say.... Franco additional $50m terms lapsed. Number of funding discussions continue with multipe interested parties including Valuestone.
What I am annoyed with at present is that NM and team have said nothing on RIO. That's getting under my skin a bit and I expect SOLG are aware of their previous guidance and subsequent silence.... hence, I think the next update will either state this is underway or give another target date in the future... in other words kick can down road. I can appreciate that resources are best deployed into Porvenir near term and that prospect has turned many of SOLG's regional plans upside down due to the importance and significance of the early Assays. But the upside in share price gains based on a Rio drill and positive early drill plan would really light the touch paper on the share price which has been bobbling along in the 31p to 38p channel now for well over 3 months.
Ecuador elections in just over 3 weeks and looks like both leading candidates are supportive of mining and in fact are supportive of growth in Ecuador due to damage done to jobs via covid but also lower oil prices effecting GDP. They really are in a tight spot and need as many revenue streams as possible along with the job creations.