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Banditputin - right now, for me, the finish line is a sale of the company.
The work force has been rationalised right down to ensure costs are minimal. There is no longer the expertise or the resource to start building a block cave mine. That has been backed up by comments made shortly after the merger closed ("we're not mine builders").
The question is how they go about it, whether they get an outright sale or whether they sell ENSA and spin the regionals out.
Funny how all this news has suddenly appeared!
Highflyman.
can your wife not make up her own mind who to vote for.
are you telling porkies, and not only does your wife not have shares. but in fact, you have no wife.
you really do come across as a bit of a weird cookie
Looks to have disappeared from the fca daily list.
Somewhere between the 1st December and today.
Stack high. The new board tosspot
Well, I've reluctantly voted I favour of the board today and will do the same with the wife's shares over the next few days.
I'm sure things haven't moved as quickly as they would have liked and I'm definitely not impressed with thr current SP but they get one more term to get this sold or they are definitely toast next year.
Have a great weekend all. C
"There’s no way it won’t happen
These guys are getting things done …. If we do our bit everything will work out
ATB DBW
Question: is this current DBW BS or historic DBW BS? Clue: he's been doing this a lot, for a looooong time...
Bozi
“It's time for a bit more patience ahead of the final push to the finish line”
Never a truer word
I'm not sure many are truly happy with events. Some will try and put a positive spin on them and quite right too because at sub 8p this company is now very vulnerable and not in a good way.
It's time for a bit more patience ahead of the final push to the finish line.
The company has unfortunately had to pivot more than a couple of times in recent years and we simply can't lurch to another set of management and another strategy.
The update in October was a good one that sets everyone straight on the business. It's time to re-elect the directors, get the final mining approvals and reveal the phased plan.
From there, we can move forward with much more confidence.
Interesting to read your yesterday post dbw.
Telling us that up until March, management in solg had been woeful.
Why did you never mention it at the time.
I can't remember you posting anything negative.
On the contrary, I seem to remember you telling us almost daily that they would secure us a kings ransome.
Hope you're right, Mate! Sad, if you're not! But, I also have faith! Cannot be otherwise with all facts considered!
Some nice merc amgs U.K. at auction for those of us with the cash to buy and run one
I agree and surprise surprise once the bidding gets going the final price is well above the reserve price...
Perhaps this is a way of enticing potential bidders; like they do at auction houses....nobody bids, auctioneer(!) brings the price down, bidding starts, hey presto... with a reserve price on the book ! Can't help thinking this is, repeat, orchestrated !!!
For another purchase tomorrow, anything under 8p be excellent.
Agreed Rich
DBW I sincerely hope you’re right mate.
I don’t know about toast, but this share is doing my fruit in lol ;)
Us shareholders need some serious respite from this depressing downtrend.
Fort ….. I think over the next few months it will be proven what a great job Scott has been doing behind the scenes. Up until March the leadership of the company has been woeful and these things take time to correct.
As for the AGM I don’t have a crystal ball but I doubt anyone will be “toast”. Pre merger BHP/ NCM held roughly 27% now nearer 20%. We also don’t know how Newmont will vote , let’s hope they can see the bigger picture.
A fair point about the buy-back Fortissimo. But the 'super major comes along and takes on ENSA' has been suggested for years, and look where we are.
By the way, I think Scott and Co have done a terrible job. In terms of strategy, activity and comms. A mess.
However, I consider the risks of voting against the Board this year to outweigh the benefits. They need some more time - for macro picture to improve, Ecuador Govt agreements/licenes and to land a Cascabel study the market believes SOLG can support. Only then will the potential buyers be concerned enough to act.
Yes, but reality is if a super major takes on ENSA then they will simply buy back 50% of the NSR, rip up the reduced mine plan and do something that fits with their purse and intended IRR.
So not really worth discussing royalty vs equity raise in terms of value to shareholders as the latter wins hands down and more so now with so sub 8p.
What frustrates me most is that Bob, Scott and maxit et all have been around the block. They know how markets work. So to effectively head into Q3, Q4 and probably Q1 24 with zero news or stimulus for the share price.... they must have known we'd be sub 10p by now?
They have done zero to protect the share price and damaged the entire business through trying to reduce capex and admin costs.
Ironically, they may as well have done a $30m raise early in year and cracked on with exploration.
This is why they need booting out as they seem asleep at the wheel. What the xxck have they been doing to spunk $70m in a year and return share price to multi year lows???
Un -- be--- lievable. And some think it a smart idea to vote them in again!
Just a few thoughts on NSRs as these have been mentioned again:
- these funds are usually ring-fenced so can't be used for general exploration/drilling. Of course there are the ex-CGP shares to sell, which could be used for regional drilling, but not at c8p
- the 'true' cost of the Franco and Osisko deals is greater than the headline 1%/0.6%. Because SOLG continue to reduce the mine design/capacity (low capex) there are lower volumes and hence lower royalties; the contracts protect FNV/Osisko from this by increasing the royalty rates. I believe this has already been highlighted - Franco would be up to 1.5%/2% by now?
An eye watering 0.05% of the companies shares traded today
Dipstick
Return to modest volume...not many PIs getting involved, but full marks to the buyer of 176,149 at 7.884!
Oh and for a sale of that size, Berry Street should have approached the Nomad in the interests of an orderly market....
Instead it looks like they sold the shares piecemeal into the market as a Principal.
In the context of returning as much money to their fundholders as possible, that looks crass or inept and that doesn't sit well for me with a LLP that signed up to the Stewardship Code, including:
"The UK Stewardship Code 2020 sets high stewardship standards for those investing money on behalf of UK savers and pensioners, and those that support them...."
However, the funds were almost certainly managed through Berry Street Capital Management Ltd (registered in Grand Cayman) subsidiary Berry Street Master Fund Limited, also registred in Grand Cayman, which had over $200 million AUM when it closed.
This was announced on October 23, by which time SOLG had been liquidated...
https://www.bnnbloomberg.ca/ex-paulson-partner-shuts-hedge-fund-berry-street-on-rising-rates-1.1988207
And heres an interesting extract:
"Event-driven fund strategies — which bet on corporate or news events like mergers and acquisitions, bankruptcies or hostile takeovers — have had a rough year as regulators step up antitrust efforts. Higher borrowing costs and economic uncertainty have also slowed dealmaking. "
Getalife, you display your lack of education when you write 'your' when you meant to say you're.
I suggest that stop posting on this board until you have anything relating to the company that would be of interest to shareholders.
I won't waste any more of my time here as the majority of the contributors (like you) have nothing of interest to say - you clearly have time to waste!