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Two things to focus on
Berry Street don't have many shares left. No fund announces that they are closing and then goes about trying to close their positions out. That's mindless. I doubt they have much left to dispose as they never had much in the first place.
Second thing is the worry for me. If it's known that Berry Street have stock to dispose, why haven't the Chinese bought them?? Perhaps they have bought some... but you'd think after the 17p placing, they would be happy to snap up another 1% at 9p or 10p. They were active buyers when Blackrock sold out (referenced by Scott today) and that was at prices near 17p/18p.
So why are the chinese not snapping up Berry Street's 1%? Like I said before... perhaps a low share price suits them... are they planning to make a bid now SOLG look weak?
Anon, read it again.
Small amount of shares traded obviously does have an effect on the sp.
But some rampers/derampers say their opinions on here do not matter and do not influence the sp.
"no additional financing required in the near-term"
Depends what you call the near-term, I suppose. This year?
Will it help the Sp? Hopefully.
Kat. Your wrong.
People will hate me being proved cottect.
All those experts.
Anyone know what percentage they held?
Exactly! Yes some of you knew this etc but I needed to read it in an RNS. The stakeholders in SOLG are impressive and still holding a significant % of the company.
Semantics imo, the RNS listed here under AIM. My point is that SOLG is as mentioned in the RNS a small company with illiquid shares. As it happens I had given up and sold a few weeks back. Today, a fill or kill with HL to buy back in my faith restored by this RNS.
Either way eventually it's going to have a good bounce
Given the amount of uncertainty in the markets at the moment, when I saw the headline "Solgold update' on the Stock Exchange RNS page, my heart sank. So often at the moment, when a company leads with that heading, it's a precursor to bad news. Thankfully that wasn't the case.
Although Q is right to say there's nothing new, I believe it draws together everything that's been achieved by SC and provides clarity in a way that didn't exist before. There's no doubt this has been forced on them, but at least they've replied and have produced a coherent explanation of where we are and what he hopes to achieve.
I can grab a few more 8p shares this morning, its amazing how a relatively small number of shares being sold can have a detrimental effect on such a huge Asset resource. with over 51% of shares seemingly in safe hands???
Pure speculation on my behalf MR, but surely they will know putting this out is pointless as we'll just get sold down further unless the Berry Street position is sold on and closed out.
I am glad management listens when we engage. I am sure others have pointed out to Scott that the comms strategy had been poor lately, leaving too much to interpretation. On my side, this RNS reads like during our call Scott and Chris were taking notes about what to cover in a much needed update, even if most of the content is not new.
What matters is the evolving narrative that had to be spelled out clearly and how much work SOLG is doing is aligned with the objectives we all share.
I am pleased.
If the knew Berry St were fully out they would've said so.
Hopefully this has also put to bed any suggestions that we need cash in the short term. He refers to the approaches they've received for the old CGP shares and goes on to say; 'depending upon the outcome of the SR there may be no need to to place the Subsidiary Shares in the future'. I think most of us would agree with that!
Don't believe we have any new information in this RNS.
Just a restating of our position.
So between 6-9 site visits ("over 5") and "a number" of follow ups (1 or 2)?
Is PFS 3 just a tactic to buy them more time, a plan B in the event of no bidder or JV partner, or a genuine effort to make Cascabel viable for those with less cash for development? We may never know.
Highflyingman - I hope they've had the sense to wait until Berry St had completely sold up before releasing the news. We might reach the lofty heights of 10p again!
Scott’s email and phone must have been getting hammered this last few weeks…
If you say so, Q. I'm not sure how many people will interpret it that way, but there you go.
We are not on AIM .
We have a full listing.
Sorry addicknt, but to present something as a turn key asset means its an asset from day one.
That means it's generating income from day one.
That means it's built and in production.
A comprehensive and honest update which left me stunned. This really is a buy and hold. The RNS is one of the most convincing I have read from any AIM listed mining exploration company.
Question us, have they only put this out now as they know the Berry Street position is rinsed out?
Bozi, couldn't agree more. It answers many questions and the explanation of the sp fall is clear...Berry have been selling. Full stop.
At last we have a clear indication of our future direction.
Nothing to move the needle