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MOTB they’d probably have to borrow the money from the Chinese
Good morning MOTB .
Yes another possible form for part funding.
That's exactly the point quady. We don't. Somebody who is better placed will buy us for 2p a share.
That wasn't the question SharketMare.
The question was what happens if no one buys us and we have to start construction in less than six months time.
What about the possibility of a loan from the government?
We sell the asset to a company that has the financial means to start construction.
So Bozi if no one buys us and we have to commence construction in less than six months.
How do we proceed.
Less than zero chance of a JV. Forget it.
Disagree medi111 I believe the type of JV you are on about is where a partner funds construction for a majority stake.
With a proper strategic review this will include funding streams
So we look for a partner with a minority stake to put up a substantial sum of money which is staged and we raise the rest with the methods mentioned below.
Hi Quady, Who will JV with someone who doesnt have money unless the JV allows Solg a cash free ride in exchange for a large equity and control. That would be the worst outcome.
Good morning medi111.
The way we do this now is probably a JV.
We don't need all the money up front, that's not the way it works in the gas and oil industry.
This is staged.
What we do require is backing so we can show this will be funded.
We can do this with royalty, offtake, loans, bonds, the issue of some new stock and a JV partner.
This is what the strategic review is about, it's how we advance Cascabel.
Remember Redknight, DBW and Slug all deny a strategic review is taking place.
Sean you may regret that lol
He’ll only come back with some arrogant rant about slug and the diverse book . I’d to love to know how we are going to fund this, let alone build it notwithstanding the fact our own CEO has said we wont.
How can they build it if they have cash for 12 months or less? may be they will throw a couple of shovels around to show that they have started construction and they are complying with the terms of the contract? someone else should do it for sure.
Seanhunter Copperpot, myself and a few others have up to now been 100% correct on the progression of Solgold for 11 year's plus.
Ask yourself why.
The likes of DBW, Redknight and of course the most unintelligent poster on here Slug have constantly been wrong. Because they are unable to listen to what the company is saying and do not know how to evaluate the evidence in front of them.
Why has no one bid for us?
Answer we have a diverse book and so so many parties need to agree a price, which means this isn't picked up cheap
Why does construction start in six months?
Because on 3rd Jan 2024, our exploration licence expires.
Also the government has promised starting construction at Cascabel.
No more extensions, this is going to get built.
Won't someone make a bid because they have too?
Of course not, large mining companies like to acquire mines in production. They would rather pay more for very little risk
£1 a share?
I never believed I would say these words but QUADY I HOPE YOU ARE RIGHT.
I need to go lie down in a darkened room now 😂
Delusional as ever copperpot.
Correct Copperpot.
No one is going to pay less than 3 billion dollars. Because it just won't be accepted.
That's one pound a share everyone.
Personally I think we get more.
This hasn't changed at all, it's still the same story.
You pay full value if you want Cascabel.
We are now coming to an interesting juncture.
Within six months construction starts at Cascabel.
NM would laugh at the thought of 60p.
End of!
I think the way to get Mather on board with a 45p or 50p ish offer is to pitch it as ENSA only and then allow Mather to head up the exploration spin out company with Porvenir and other high targets include. I get the idea that all Mather wants the opportunity to prove there's another Alpala out there within the SOLG folio. That's what floats his boat. Put him as CEO of the new exploration business... Exit Scott... Maxit et al along with ENSA sale etc and off we go again. Of course Maxit / Bob and co will retain their typical 20% interest in the exploration NewCo and wouldn't run out a placing with Chinese for 20% to fund $30m 2 year exploration plan.
Plenty of ops to sweeten the pie for all involved but if you want Mather to accept sub 60p for ENSA... then you gotta give him the opportunity to find another. Simple as that. IMHO of course.
Not sure if this has been posted already
https://www.bnamericas.com/en/interviews/ecuador-looking-to-advance-mining-projects-before-govt-ends
I guess that’s very much my line of thinking Fort - I’m honestly not as concerned as I once was about getting top dollar (I know that sounds a little foolish) but personally I’m sort of aligned to CGP - if indeed their thinking is let’s get an exit and let’s get it over. I also think your bang on the money that they would move on at 40p
Mather will no doubt want more - but he’s had his crack at it and his original dreams of £1+ or a company to rival BHP are consigned to the past now
The market is absolutely dire right now - however if we get an exit during this slump then there are plenty of buying opportunities around - for me risk can be spread and the SOLG journey can be put to rest.
As for my done and dusted by the end of this yr - it’s based on Elections being over by end of August , agreements in place with the govt and fingers crossed first bid received ….I am mindful that we still need a catalyst for the opening bid to be submitted and honestly I don’t know what that will be
35p certainly won't cut it with likes of Newmont and BHP nor Tenstar or Mather. No way they'll let Chinese have it for 35p. I think 50p is the lowest offer price that would likely be given serious consideration. One way to sweeten a 50p offer price (as opposed to something like 60p) would be to agree 50p for ENSA and then give Shareholders full exposure to exploration vehicle / spin out folio which has Porvenir, Bramados and few other blocks thrown in with likely market cap value of around £100m or so giving Shareholders another 3 to 4p if they want to exit or opportunity to roll the dice on exploration again and possible to see that 3 or 4p level turn into 8p or 12p (£200m or £300m market cap) upon some discoveries, thus returning a further 12p+. Of course could be much higher if you see holes like that seen on Alpala.
Yes discussions will be ongoing with mining ministry and lasso etc but I think it's important to remember that Maxit are fully incentivised (with their large holding) to get a monetisation event under way. As Irwin has hinted before... the market is down at the moment and there are loads of cheap opportunities elsewhere. Some of these are beaten down to price levels that look very attractive. Hence the thinking for Irwin and Maxit et al is different to pi's. They will happily take 40p+ if ti means this happens soon and they can then deploy that cash into cheap stocks that potentially turn that 40p into 80p with short period of time. There comes a time or a pivot point whereby it's pointless wishing for 60p or 70p on SOLG when other target investment stocks are recovering 30% to 50% from lows. Eg... miss that recovery phase and you've missed the op to capitalise on being cash rich (post SOLG sale). So tricky one for the big boys and that's why 40's might be a goer for some.
I genuinely think that any low ball offered in the 30's will see counter offers. So certainly possible that the first offer is mid 30's. But that won't succeed imho.
How soon is soon, Pad? Put a date on it or it's just meaningless ramping statements. You must have an opinion on the when- why else would you be sat in this share waiting for years like me? Do you agree with dg1 that it's before Christmas. Or end of H1 next year? Or 2025? Go on- be brave and then hope you're not wrong.
For balance, the majors you speak of have had months of this new, cheaper level to increase their holding and decrease the price they would have to pay if they fancied a TO. They haven't, so I think we can conclude that NCM and BHP are not thinking about solg much anymore. BHP have their own exploration office in Ecuador, but haven't increased staffing their since inception. Jiangxi have almost returned to their pre-dilution percentage (not quite) but seem to have ended their buying, and the other two haven't topped back up to 13%, seemingly happy at 10%.
"Tier 1 asset!" is the fall back of most of you guys. I wouldn't be here if I didn't rate the minerals in the ground, but remember that we're invested in a company that has bought the rights to explore, assess, develop and fund the construction of a mine. So far, we're only two stages in, and our exploration licence at Alpala is time limited. Our currently leadership have been bullish in their substance-light comms, but they're going to have to get down to some serious business if they expect the government to sign exploitation licenses with them and not someone else.
Oh and just to add 35-50p is without competitive tension - (just my estimate) we get into a bid scenario and we can exit a lot higher
yea i’d agree pad. indeed the article does serve as a timely reminder that discussions are ongoing and although we are not privy to every piece of the jigsaw it does feel as though the jigsaw is nearing completion.
a good few yrs back now i always thought that solg would jump to 70-80p as a circa final price from around a 35-40p base - indeed it’s why i didn’t cash in on the good few times we managed to get into that range.
my thinking is now 35-50p as it would seem the chinese want a bargain (obviously) and the majority of holders want an exit - and time and money constraints will begin to weigh on proceedings
i do think we will be all done and dusted here by xmas - and for the first time in a while i’m going to start adding some chunks of shares here with some surplus cash and a few rotated shares
recession is heading to the u.k. and aim is on its **** (i know we are not aim) there are not many plays out there which offer the upside i believe we can achieve here in the near term (6mths)
i haven’t been in this share for the yrs that i have to reach this later stage to not have a full and bristling holding
good luck all and have nice weekends