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Dipped my toe back in not much buy hey ho
The word on the headless chicken circuit (and not just slugs many profiles) is that there is a 10p placing coming. Is that likely? Is that necessary? Would it even make sense?
Seas anyone know if the short is still open. Picking up on comment that share price was being manipulated- looks like the shorter knew this was coming. Once it closes hope we can expect some good bounce.
Go to bed you old fool. Those two brain cells of yours could do with a break.
Scott said, the web page said, the brokers said, Bob said, mather said,
Naive fool, doesn't even come close
Cheers Guys, you made me laugh on this painful day for all of us.
NAL has crossed the line with me. I will no longer engage with him.
Fort, I don't believe that for one moment.
Caldwell stated they'd had a number of approaches to sell that block but turned them down. My own view is that this means they don't want any more dilution before the exit. I know, I'm a naive fool.
Makes you wonder why Bob et al are not mopping up loads of stock at 10p today doesn't it?? So based on volume we have mostly pi action going on and the larger ii's are doing nothing. Chinese are doing nothing. Bo and co are doing nothing. You'd think they would all be piling into the stock at 10p... but like I said.. perhaps some of them know they are getting a chunk of those 100m CGP shares in the very near future cough cough.
Unfortunately where the CGP boys are concerned a 'proper monetizing event' could be 100m shares placed into Bob's hands for 6p a share. That's problem here. As I said before... they have effectively minimised dilution to their own holdings along the way while diluting the rest of us.
'proper monetizing event'... should be for ALL shareholders and thus far it's only been for the CGP main major shareholders. That said... the true pay day for them only comes with a 'proper monetizing event' but the latter becomes easier to execute when you've lowered your average holding prices. Like Bob has!
TheItalian, he was quoted as saying they were working on a 'proper monetizing event'. Surely that means a sale?
Eloro, I'm not sure about the child bit, but he does have the intellect of a bowl of particularly thick mulligatawny soup.
It's difficult to say what Scott's roll is as there is an operational story here as well as a corporate event story and both need alignment and assistance along the way.
The year long 'strategic review' and lack or urgency to report back to shareholders with the final plan is their own doing. I suspect they don't want to commit to defining the path until they've had the final deal talks with whoever they are discussing it all with and I assure you... they have someone cued up as there is no way the Ecuador Gov would approve the red tape events of late without firm promises from SOLG. And that includes who's paying the $25m when that lands which I'm guessing is as soon as Q1 or Q2 based on final red tape landing in Dec??
It may well all be as simple as the 'hands are tied' due to politics/elections etc and then there is a flood of updates that follow once new guy or gal is in place.
The lower share price just make shareholders more angry as some folk can buy in today and be on for an easy 50% profit and that's just based on getting back to the woeful 15p or 16p level. That's annoying for long term holders.
But even if the shareprice was 18p right now... most would be getting very short of patience after 12 months of near zero apart from a couple of red tape cutting events which are important but also a long time coming.
The market feels exactly like it did last year in October... seriously twitchy and liquidity low... the market looks and feels like most out there now... tired and bored as returns are had to find.
TheItalian… the lower of share price slides, the more impossible it becomes for us to qualify for that finance… it’s getting further and further out of our reach… and the dilution becomes larger and larger…
"Your mate Caldwell has thrown you under the bus to get the sp down to a sellable level."
Interesting take needalife... but do you think if a buyer made a bid now at 11p they'd whisk off with us at that price? We may feel utterly unwanted today but any kind of bid down at this level is going to set off fireworks. Our guide price may be £300,000,000 today but I doubt anyone will get away with paying that unchallenged.
I’m going to predict a relatively calm finish to the end of the day… afternoon reversal
Perhaps another angle to consider, that might reconcile various aspects of what is going on with SOLG, is that the "strategic" outcome is in fact not a sale as we all hope, but rather a financing consisting of debt and streaming/royalties with some equity dilution.
If the majors have not been keen on splashing out 3bln and the current strategy has turned to a smaller kick-off project, it would sit well with a different way to finance Cascabel.
Now that would explain the need to have all the papers in order, which would not be the case if a BHP were to buy.
Thoughts? Could I be on the right tangent?
To be fair Fort…. It’s not up to Bob to turn it around… that’s Scott’s job..
Eloro, just use the filter button like the rest of us. NAL?? NAL who?
Adikt. Your finally catching on. Yes your right something is going on behind the scenes.
Your mate Caldwell has thrown you under the bus to get the sp down to a sellable level.
I know I shouldn't gloat. But I'm off to bed picturing all you smug key board experts wringing your hands, knowing the clown from Australia, was right all along. Goodnight. AND God bless.
I think again the sentiment from Bob is better suited to the follow teak on his text
""I don’t know any other team that could have turned around our diminishing ownership in SOLG as quickly and efficiently as we did."
Yes Bob... you certainly did turn that around quick. One moment you were staring down the barrel of being diluted further as you had no funds or cash left in CGP and the next moment... you've almost got double your stake in SOLG and you're running the show.
That was a quick turn-around.
Unfortunately, since you boys took over the share price is at multi year lows. The 100m shares we had in the kitty are now worth half or as good at 50m shares now.
Yes it's ugly out there across the mining minnow sector... lots of beaten up stocks but you've had 12 months already, burned through $50m and I'm trying to understand what exactly you have achieved or 'turned-around'?
The only thing you've turned ... is the share price and that's down!
Sort it out or shareholders will find a new bat to swing and you'll be on the end of it.
In a word eloro YES
I will DB because I get the impression that NAL isn't an adult. I think he is a child with mental health challenges.
I was brought up to be kind to dumb animals, although my patience is now wearing thin.
I'm expecting another Berry Street Capital type statement released soon, from somewhere, as we head towards the AGM..
Eloro ….. just ignore it
Bob is reacting to angry PIs. Looks like we are becoming a single digit company. Where are the results and efforts? Smells lies in his answer.
As for the management, free fall and no reaction?!