The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Good morning Italian.
Your post makes complete sense, however it will be placed on a percentage of NPV not NAV because to place it on NAV means we have to be up and running.
A thoroughly sound post Italian.
Thanks
Even though I am les rampy than Red, let e add a couple of factual points to support his general argument.
1) I asked Scott specifically whether there was any chance that they were being too greedy, hence the lack of bids. He said he completely agreed with Nick's view about the value, and they were working to advance Cascabel exactly to make it a turnkey project with the NAV as a benchmark. Now the assumption we can make, but that is an assumption and not a fact, is that indeed prospective buyers may have been dissuaded from bidding low because they were not going to get us, but if that was the case then equally we should conclude that management still feels strong about the prospects even though they cannot tell us in a form that some of the PIs here can understand or appreciate.
2) Investors in this sector, even the half wits, should be able to understand the share price in the context of the general market sentiment. For example, all my "junior" portfolio stocks are down YTD, from -22% to -77% even if most of them actually made some operational progress. The same stocks between Q4 2020 and Q1 2021 were on average 200% higher. Now these are facts, and so is our choice of when to buy and sell and if we bought 200% higher it's not the management's fault. I have commented in a previous post that just based on sentiment returning positive, SOLG would be worth 20-22p, not guessing but actually studying the correlation with GDXJ. Sentiment is an externality and many obviously don't understand it, in fact if the price today was 22p we would each still make exactly the same comments.
Medium term targets...
$2100 for Gold
$30 for silver
$4.40 then $5 for copper...
Growing volumes the last three days and today has started OK with more PI buying and the Autobots moving the price up ATMO...as long as they don't bash it down again this afternoon...
Immediate target is breaking 9.6 and ploughing on into the 10s...after that theres no major resistance until 15 or so (where Berry Street started the slaughter...)
Not a lot of stock around but we need determined buying to develop this scenario and ideally trigger XIB into closing...
So heres a plausible scenario...
First I'm not alone on here in believing that the two major factors in the depression of the share price over the last 17 months have been:
Darryl's astonishing incompetence in trying to persuade the Board to embark on a failed cashbox raise...its failure and the market backlash that followed when SOLG was perceived to be desperate for cash.
The forced liquidation by Berry Street when the SP had established a solid base between 14 and 15.
But a third important factor has been the state of the global economy, especially including high inflation, and the continuing depression of metals prices, the mining sector and especially gold, copper and Junior Miners.
At a time when the SP had already been weakened by the above, this was a perfect storm to batter the SP.
Indeed if you compare the copper price and gold price charts since April, you will see a close correlation until Berry Street hammered the SP just as the latter were showing signs of turning up...
So we've missed the effect of the sharply better metals prices...so far...
And don't you think that Sangha will have advise the Board from April onwards that it was entirely the wrong time to be seeking a sale and that, as Nick has forecast for years, eventually the impending massive copper shortages would impose themselves on metals prices.
So I now believe we are approaching a positive perfect storm...
Scott has used the time to revisit the PFS to produce a 'bankable' one that is far more bankable and attractive to a range of bidders, with cheaper and quicker construction, getting ore mined and positive cashflows sooner, by virtue of an angled shaft into the core of the richest ores (i.e. similar to traditional coal mining), creating the cash flow that will pay for the block cave mine that can then commence construction.
It may well be that Sangha has had informal approaches asking what sort of orice the Board would consider for a sale, because no bidder wants to look stupid by being the first to make a bid that is rejected out of hand.
And based on Nick's previous views on "Asset Value not Market Value" prospectors may have been told "you're not in the ballpark under £1..."
And of course that would ward off interest for the time being until the Board's chosen moment, which would be once PFS3 is produced, together with any remaining required permits.
Sangha is a consummate Corporate Finance professional, embedded within world's mining finance centre, i.e. Canada.
You might say Wall Street, but they are preoccupied withe the "21' high tech companies.
And he would have known at the outset that Cascabel was unfinanceable for a company of Solgold's size without massive dilution.
He would also have the Mining industry connections to know when metals markets and Junior Miners would catch fire.
So PFS3 will arrive at the optimum time in terms of rising markets and savvy bidders may not wait to fire the starting gun
No skin of my nose Lord Braggart, alias redknight.
Pretty soon, you will be posting and replying to yourself. Heck, you are doing that already:)
You respond in your haste to show others how silly they are, only to discover that you didn't bother to read the other poster's post!!
I noticed that you never mentioned your children in your posts, only your wife. Why is that? Is it because you are firing blanks, or you just couldn't stand up and do your bit for dear old Blighty? No wonder lady Redknight has to turn to Jeeves to take care of what you are incapable of doing. You clearly only get your jollies from being a tool here and on other BB. Going around making enemies is the end result of you being a braggart:)
Noboa yesterday
“New Ecuador needs immediate actions to ensure resources that strengthen security, employment and protection of the most vulnerable”
Chins up you two , don't let it spoil your day.
COP28 coming up and this BB is leading the world in going green.... ;-)
Eloro and anon filtered...
One can't be bothered to read the detail the company puts out but says they've done nothing in the last year
The other adds nothing except personal insults.
61
Apologies Bozi, I misunderstood.
I believe Twigger and Clare's departures are signalling the end game soon...
We've seen no RNS about them selling shares...
How on earth would a shorter know something the market doesnt know...?
Unless you think they're part of a conspiracy plan by Sangha...
I was thinking streaming it on your PC. No need to watch telly. Just type "watch Shane online" into your search engine and you will get a lot of free streaming sites returned from your search.
Anyway, I think you should watch Shane so that you can be educated on why labelling folks as liars can become serious.
New pandemic on the way in China. So far mostly kids are being hospitalised. Could impact economic activities in that country.
Smickster not sure how anyone could “know” a bid is or isn’t coming ?
I think the hurdles are mostly geopolitical here.
Really interesting article about the challenges facing the mining industry in Ecuador but it’s clear they need to get the stuff out of the ground.
The reserves table illustrated is a nice reminder
https://www.bnamericas.com/en/features/the-logistics-challenges-facing-ecuadors-mining-industry
Eloro. Don't watch much tele mate.
Aus tv sh**te.
Only really watch cricket, afl and fishing programmes. Probably why I'm a bit thick.
Find anything over bill and Ben goes over my heaf
100% SM. I was a bit taken aback by the arrogance of it at the time but the usual characters on here, the likes of Fort, lapped it up.
Your point about Sangha's credibility is spot on.
That does happen here NAL. That's why you need to create a new thread to avoid becoming collateral damage.
I hope that you had chance to watch Shane yesterday?
Eloro. I will give you the same advice I gave you when you teamed up with redknight and ended up with egg on your face.
Don't fall into the same trap with novice.
Look back over his posts, you will find the whole board treats him with indifference.
He has picked and lost squabbles on here multiple times.
If you engage with him he will become a limpet, you will forever regret it
Redknight - I'm saying they'll need another year in terms of being re-elected at AGM.
Whether they use that full year is up to them. Personally i think there could be a window in Q2 next year.
What do XIB know that has stopped them closing out already.
My hunch is they know no bid is due and will be staying until we need more funding.
Eloro. Not mine mate. Admin are removing the posts I report as abusive. I'm just collateral damage because I'm on the same thread.
So you be careful. You don't want to before the principle and end up expelled.
Good to see I'm still in your head 24 hours a day novice.
Must be unbearable to be one abusive post from suspension.
Yep Novice, I was surprised that NAL, who is quick to notice the removal of other posters' posts, failed to noticed when his posts were removed:)
Selective myopia heh NAL:)
What we need now is "the Board of Solgold has received an approach that may lead to a bid..."
Followed by XIB closing their short...fast...
Hi eloro I thought a lot of my green lines had disappeared 😉
ONWARDS AND UPWARDS!!!