George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Peas = was ….. pub typing sorry
AD …. Re DG’s post and Scott saying he felt the share peas at the bottom now ….. how could he possibly know that?
KapilD - have you seen how many IPOs are making it to the market at the moment?
Barely any is the answer. Numbers are well well down as the hamster wheel that is the primary market has stopped turning.
Yet here you are calling for SolGold to IPO a spin off in the near future?
One certifiable way to destruct value in the short term and one possible reason why the SR has continued for longer than many expected.
It's fine that you don't rate certain SOLG CEOs past and present but trying to IPO a spin-off in the near future will not create value in the short to medium term.
The time has come for patience.
They should absolutely be doing a spin out and IPO. What have they got to lose? We will find out if anyone is truly interested. I don't buy this BS that it takes ages to get through all the dd data, that's just a delaying tactic. Interested parties would know within a couple of months if they wanted it, if not weeks. If someone wants this they will bid, lets find out! If no one bids, what have we lost? At least we save time by not having to wait forever for someone to make their mind up.
Forte, for one thing, neither Scott or SOLG have actually failed, you are over-dramatizing there. It's no doubt that with the benefit of hindsight SOLG's management, past and present, could have taken some decisions in a different way, including possibly selling at a lower price (still higher than today's) than the NAV or the multiples of current price that Nick loved to talk about.
But the company is running, priorities have been set to not waste money and delay the need to further funding, refocus and progress the project from a technical point of view, and re-engage the parties that are likely to be the good candidates for takeovers or JVs.
While I hate this myself, one has to understand that the time that matters is the one that companies need to fulfill their tasks, not the one that investors would like.
Fort, fair enough. We'll agree to disagree.
The penny has dropped
Fair enough Fort ….. it’s a democracy after all and we should all vote as we see fit
Sangha and Maxit get deals done fact
Sangha and Maxit have plenty of skin in the game
Sangha and Maxit see Scott as the man to front this thing
But hey what do they know
Likely outcome is pi’s vote will probably cancel itself out
But that's the point of my post addicknt... you've been rogered already. Look at the share price.
BHP might roger you in the backstage door... but you'll still be better off than with Scott&Co.... simply because the maket would believe that BHP will get Alpala to production. At the moment... the market thinks Scott and co are a bunch of old CGP shareholders who sat on their hands for last 5 years waiting for a pay day on 15% ENSA only then to sit on their hands owning 100% ENSA and still waiting for a pay day.
At the moment, there is absolutely no pressure on Scott or Maxit to deliver anything. Why not? Whio's going to apply that pressure? Yep... you guessed it... it down to you and me and rest of shareholders.
If you want to give Bob and Maxit a kick up the backdoor... then vote Scott out. They'll just stick Stackhouse or Botts in charge so market won't give a toot as the market knows the end game but thinks Maxit can't deliver on it.
Someone needs to send Bob and Maxit a firm message and whilst I think Scott is just doing his job... unfortunately for him.. he's the CEO and like all CEO's they have to take the fall for failure.
It's time to make a stand. Time to let Bob & Maxit know that we shareholders also have a bat. They can of course... save Scott's bacon by allowing him to announce a JV or a monetisation event BEFORE the AGM. Shouldn't be too hard for someone as great as Bob and Maxit?
No news or no deals announced before AGM and I'm voting them all down. Simple as that. And I won't be the only one.
The one route which is in our control and not dependent upon outside influences, is the stated option of spinning-off certain other assets into a publicly quoted newco. I wonder if we're heading in that direction with our approval being sought at the AGM?
'let BHP have a go'! They'd roger us backwards.
You must be getting desperate if you think BHP would be a better bet than Scott &Co.
Fort ….. indeed Bob & Maxit are there to get a deal done, it’s what they do. They clearly consider Scott the guy they want in country to put all the pieces together regarding sign offs etc.
It’s be crazy to rock the boat now imo
Addicknt, I disagree. Scott is there merely because Bob and Maxit need someone to front it and someone willing to live in Ecuador which I understand is a condition set by Lasso and co and fair play to them.
The asset is the asset. Scott is not going to deliver you a sale. Maxit are the ones that will do that. And thus far... they've delivered nothing apart from a royalty that was more expensive than Franco's and ironically awarded to themselves as Osisko is a related party from what I can see. They did the lowest equity placing for years at 16p. The list goes on.
Scott told everyone that he would deliver the Strategic Review and his updated plans in Q3 2023 or possibly Q4. Now it's apparently Q1 24? And wait for it... it will be delivered in Q1 but then they'll have some tweaks or optimisation to do (lol!) which will be completed in Q3... and then same goes on and on and on.
At the end of the day, you have to say enough is enough. It's time to stick the for sale sign up and that's that.
At 10p, we may as well have given in to BHP 4 or 5 years ago.
In summary, yes I want this asset sold but I am also at the point whereby I'd rather see it done without Scott or Maxit involved. They have brought zero value to the table thus far and just lined their own pockets. Which in turn means they can take a lower price and still be quids in while others are left to fend for themselves.
Vote them out and let BHP have a go and we can see what they can offer up. And remember, there are market laws that prevent them from doing a takeover through means that are deemed unfair eg diluting shareholders and gaining company that way.
Https://www.reuters.com/markets/hedge-funds-see-mexico-ecuador-china-alternatives-2023-10-03/
Gee guys i'd hate to think where the share price would be if you thought Scott was doing a bad job.
One further point: the transaction was not an XLON trade, it was XOFF. To me it looks more like a transfer between two entities controlled by the same party, particularly as it had no effect on the market price.
Genuine question: Given it was an off-book transaction, how do you know? If it appeared on L2 as someone wanting to buy that very specific amount, does the fact it was fulfilled imply that someone else was happy to sell them in an off-book deal?
The 2.92m is without any doubt a buy. Firstly it’s a very large and strange amount of shares for one transaction
Secondly, the exact same amount of shares at the exact same price were explicitly on the buy on L2 at 1630 yesterday in the auction. So we know for a fact someone was trying to buy that many shares at that price and didn’t get filled
Chinese might mop a few up now the elections are over as they were buying up 1%+ in open market at 17p/18p levels.
That said... I doubt they want to boost price if thinking of bidding.
Nice to see mm's print a large block in normal trading hours!
Some chunky buys appearing over last few days. They seem to be in larger blocks now post election result.
Nearly 3m block gone through.
MM's appear to be sorting a large seller/buyer out at the moment.
Fair enough.
Totally agree with you Fort.
Add, Bozi, Fort has covered exactly my thinking here regarding the situation with Scott. Let us hope that come next year this time we won't be here to find out who was right. If we must endure another year of the same, then I would prefer a more capable ceo. Of course I know that a ceo must be more than PR. We need a capable ceo who also knows how to communicate to the market. What is the point of having one who tanks the SP every time that he speaks?
Agreed could be a buy or a sell anytime over the last few days
Jezzoo, it was an off-book transaction, so we have no way of knowing if it was a buy or sell.
Jezzoo what makes you think the 2.9 million is a sale.
If you are working this out from a 0.1 penny decline from the previous transaction, that is not an accurate way of doing things.
Because they may have got that price because stock was required to offset orders.
As far as I can see the trade is unknown.