The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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DG1
I think your post sums up SOLGs situation pretty well……..
DG agree with most and I’m fairly certain a JV is the last thing the board or any potential investor would really want.
I’m confident we’ll get there in the end and the only question for me is whether we hold on to a couple of the other licenses or get shot of the lot. I guess that depends on whether the bidder wants them and is willing to pay for them.
Just need to get through the next couple of months, keep ticking boxes along the way and stay patient
My bet for what its worth is this still goes to the Chinese
But they are clearly not going to be rushed
My hunch is we are good for 30p - circa £1b - but I'm not sure anymore if thats my head. heart or prayers to the big fella
And that big fella isn't Matther
AGM will probably be carnage - but dont really care either way anymore
All just my opinions and views - plenty more mths of arguing on this board I'm sure so lots for the majority here to look forward too
Ship sinks
Sitting on his hands whilst the dhip sinks
Here's my view for what its worth...
in no particular order....just as it come into my head
Previous Solg Mgt Teams have been pretty poor
Scott is doing a good job
He had to cut costs fast and took a hatchet to the company
Him / Maxit / Warren & Probably NM DGR - wanted it sold and once that decision was made the CGP team moved in
Once they had decided they wanted it sold it makes sense in my mind that the quicker the better
However its been tougher than they thought
Suitors will have been well aware that they wanted it sold
Suitors are indeed applying diligence and maybe this process was longer than many had hoped for
Its a massive resource
Its gonna cost a huge amount to get it up and out of the ground
There is the dilema of striking the balance to a price a sale everyone agrees upon
I dare say certain parameters were requested before a bid was placed
Its ok saying it can be extracted cheaper - lets say £1b
So suitors say - well go and prove it then
Hence we start PFS x 3
Its ok to say Ecuador will issue all required permits
So suitors say well go and get them then
Its ok to say we can sort out the tailings / have a pipe to ship the stuff to the coast
So suitors say well go and prove it and sort it out then
We probably do have a Franco or a Silver Wheaton - waving a big chunk of money
But I dare say the terms would be onerous
Maybe we use that as a carrot to speed up a bid from a suitor
But suitors are wise and say - your never gonna sign that deal - so continue on points we have raised above
Company cant release much news to support the price as not much new has happened
We get frustrated and say that the board will be toast at the AGM
But they cant magic up news or make it up
So the wait goes on
None of the holders mentioned above really want a JV - and what would we bring to a massive suitor in terms of our end of a JV - not a lot
The option might be there to split out Cascabel sell it and hold on to some other license areas
There probably is a belief that there are other discoveries to be made
But after X amount of yrs who has the appetite for it
A lot of the board are in their 60's now......probably want their pay day
Berry exited they had too as they were distressed and this smashed our price in a tough market
Nothing to say we wouldnt be down here anyway - but maybe we wouldnt have been hit quite as hard
Very little in the way of buying as we are rather binary now
We either eventually get our sale (crossed fingers for an auction to drive up the price to an acceptable level)
Or we dont - and if we dont we need some cash
CGP shares not worth much down here - so are we back to streaming deals
Copper price looks a little perky but hasnt really kicked into gear
Gold looks good to move up if you believe the gold bugs
Copper defecit is looming - if what I have been reading for 10 yrs comes to fruition
So all in all - we are in a tough spot
Not quite terminal and certainly no fat lady singing just y
Tesla, there was 1 fleeting mention of solgold and a lot about the junior mining and commodities sectors, Pray, which bit are we all lapping up?
Tesla, if you really want to know what is happening why don't you read the last RNS? The fact that you don't believe is irrelevant and does not mean its contents are untrue. I rather suspect if SC told you today is Wednesday you'd call him a liar.
Lol……if it was so great and so cheap then someone would have bought it by now………
Hmmmmm…..how many millions of Solg shares has this guy got….🤔
I doubt he is going to be negative on a podcast but everyone on here laps it up………..
When are holders, on here, actually going to question what is really happening……or are they too scared to face reality……
They can keep saying they have a monster, but the proof is in the pudding, no point in having a monster if no one can afford to take it to production…….
Puzzling logic 1984...
Demand is poor for two reasons:
Most people aren't selling
There isn't enough stock for them to buy...
I agree more shares would increase liquidity but it would have to come from either a share issue - please no at the current price, or
Somebody like Berry Street selling - also please no...
Hi Eloro
Lol no it wouldn’t it’d be dull, predictable and ill thought out, the only plus is I wouldn’t see it …..
Italian ….. More from Irwin
“I couldn't talk about all my names on the podcast. I believe SolGold has an outstanding copper deposit and it keeps getting reaffirmed with every smart person I know who goes down there to see it. It is super cheap too. Lots of people are looking at it, at some point something will happen. Remember the 1.5km deep holes we used to drill grading 0.93% Cu equivalent, or 1.2km of 1.16%Cu equivalent, or 1km of 1.29%.... these holes are measured in terms of kilometres, not meters. We have a monster. Berry Street's wind down and the subsequent share divestiture certainly didn't help the share price. Fingers crossed”
He says "we're going to consolidate into the US Canada and Australia..."
Very bullish on gold and on a Critical Minerals Strategy for Australia.
DBW, Warren is still holding solg shares which is a good sign. In the interview he stated that if a Explorer start talking about going to production, then he would sell up. It would be nice to get Quady's opinion of Warren's interview re going to production.
Addicknt I was making the contradiction you pointed out.
He wants more shares for greater liquidity, but at the same time wants us to defend less.
And then goes on to say this is good for the retail market.
As usual Slug jumps in without even watching it.
Gets it wrong on all fronts.
Really no difference if he had watched it.
This is what makes him the most unintelligent poster on here by a country mile.
Wrong Madpunter I have never said I am certain that the company is taking Cascabel to production.
I have said it is the most likely outcome considering the facts and evidence.
Try listening to what Solgold says.
Minute 47, also a worthy mention of the Lassonde curve and how the newscycle during the orphan period tends to be bad.
He sees Scott as doing a good job ….. but not expecting a smooth AGM
“At present the skillset at SolGold is to cut costs and make sure all the potential suitors have all the information they need to make a decision. I think Scott has done a great job. Board? We will see how the voting goes for directors and I anticipate a change or two”
Irwin has certainly become less enthusiastic about Solgold of late.. now his mates are in control I would imagine he has had a peek behind the curtain and can now see its not so easy to monetise as he proclaimed it would be.. stage 2.9 of his 3 stages was reached long ago
Haven't listened yet but it sounds like Warren is getting tetchy.
Someone ought to remind him that it's on SOLG to boost their standing in the market with continuous positive newsflow..
In this environment when interest in stocks is lower (due to the returns on cash), the companies that have the most to say win the day.
Who'd have thought that mothballing all operations would have had such an effect, eh?!
Just for the sake of putting it out there.
Ref my earlier post.
Fort. I'm just wondering what your views are on this paragraph from a report into where the ecuador government expected solg to be by the end of this year. 6 or 7 weeks away.
Bearing in mind it's mothballed.
In February, the Energy and Mines Minister, Fernando Santos, stated that he expects pre-construction works to begin at the Cascabel and Curipamba mining projects by the end of the year, and construction to kick off in 2024.
Am I the only one on here who thinks, all this willy waving from clueless experts on here, is irrelevant if Ecuador begin to realise, as most investers have, that solg is a busted flush.
Wi, said this, scotty said that, adikt thinks this, quady knows it all, rk tells us the price of copper, forts on another planet, eloro and one or two others have lost touch with reality.
The sp is 8p. We've missed a major deadline, set by equador.
Wake up. Post what's happening in the real world.
Solg will be shown the door, and today's 8p a share will be a bargain.
Arok, yes, although he wasn't being specific, those comments were also interesting. If you recall SC slightly ducked the question recently, but I got the feeling he believed it is happening.
'84, I think he was assuming those shares would end up in retail hands, but I'm not sure why he thinks that. If another placing takes place the shares will, like all other placings, end up with sticky investors. Anyway, that's all academic because it ain't gonna happen.
Add Algo trades to the equation- short of stopping any upwards movements with such a low volume - I know some think otherwise but WI confirms the shenanigans that goes on including shorts nonetheless !
Add, how does more shares increase liquidity? It’s demand that isn’t there not supply of stock.
I’ll ask him on twatter
Pretty obvious we can’t and won’t build it ourselves unless you’re shy of brain cells.
The fount of all knowledge speaks again. Quady, why don't you contact Sandhu and offer him the chance of an interview? You could explain to him what Irwin really means; what Irwin doesn't understand about your 'diverse book'and how to defend a hostile bid. Furthermore, you can tell him that Irwin is wasting his time waiting for a sale of SOLG, as you're certain that the company is taking it to production.