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Red the make-believer is back with force.
How's the 1Y comparison, Red? Down 46%? Love how you cherry pick your percentages every time you take over this board. Is it 30 or 40 million shares you've got at the moment? We lose track...
We are on the cusp of significant value creation for Solg shareholders.
Patience will be rewarded and soon - just hold in there and ignore the rodent clowns.
IMHO GLA
Hi Fort he kept a load too ….
Redknight1,
I thought you sold about 1m shares in the 16's. How can you be 'well happy' with the rise to 19p? Plenty did the same as you and they are 'well' erm... well.... absent is the best word I can find.
I'm surprised novice hasn't appeared with his "20p by Friday" observation. I have no intention of assuming his mantle. Having said that...
Why is the SP at its highest in 9 weeks...?
Why is it up 4.26% from its low today...?
And why is it up over 18% since its intraday low on June 1st...?
Last weeks surge as selling for 36 hours to bottom in the low 17s, since when it has performed pretty solidly...
The Betaville story remains a puzzle but it has sparked renewed interest...
Solid resistance at just over 20 but I'm well happy with the last few days...
I'm praying you're right. I'm sick to death of this share.
Ah...the SR...don't hold your breath...
When this is sold, no doubt the Board will say "this was the best outcome of the SR..."
"What is the data room in the M&A process?"
"It is a physical location that is established by the seller to store essential documents that are required during an M&A transaction. The data room is part of the due diligence process; buyers and attorneys representing the buyer can access it before closing the transaction...."
RK, you're remarkably sure of yourself, which, in the circumstances, seems a bit odd.
We know what we'd like to happen, but we have absolutely no way of knowing what's actually going on. By the way, the May MD&A said exactly the same thing about the SR as the Prospectus, so I'm not sure why you're disagreeing with me.
We know we've got sufficient working capital for the next 12 months, but the SR is not addressing that issue - it's taking a much wider view.
Yea but get an offer accepted first.
Sometimes you can have a buyer for your house and even something that simple takes months ….. this’ll be sold alright
If we had a buyer it would be sold.
Addicknt
The last line is the final word
Sell the blood thing 👍
And if you're hanging your hat on historic commitments, what about this one from 28 July 2022...
"Following the Pre-Feasibility Study ("PFS") for the Cascabel Project which was announced in April 2022, SolGold has continued to develop the funding path to achieve the next milestones in the form of delivering the PFS Addendum (targeting Q4 2022) and the Definitive Feasibility Study ("DFS") (targeting H2 2023. The purpose of the proposed funding exercise is to finance completion of the Cascabel DFS, further de-risk the project and realise its world class, Tier 1 potential. The Company is targeting total potential pre-tax NPV uplift of approximately US$1-1.8bn at the Cascabel project from the continued evaluation of optimisations and other upside opportunities to be incorporated within the upcoming studies...."
The Prospectus was produced for a specific purpose, which was intended to complete early in 2023.
5 days earlier Scorr said:
"Our top priority is closing the Cornerstone transaction..."
In that RNS it was also stated "The Company is well-funded..." this was on 17 February.
The 1st quarter MD&A RNS on 15 May stated "The Company ended the quarter with strong liquidity, a cash balance of $48.1M, plus $25.4M shares held, which can be sold at the election of a wholly owned subsidiary. ..."
Times and circumstances change. What do we need funding for when we're not advancing the DFS, nor are we building Cascabel. We also appear to be doing minimal drilling.
You can hang on historic statements such as the commitment to doing a strategic review, but the priorities now are clear:
Make the company much more financially efficient and disciplined
Determine how best to present the maximum value to prospective bidders
Get the sale done.
End
In the meantime we keep moving up. Is someone nibbling away?
I should add, let's not forget that BHP may well have desires on Alpala and cannot be dismissed. Maxit will know that any plan or offer deal that they put forward will either see BHP counter offer or take back seat and await other offers from players like Anglo or Rio if these firms are indeed intent on bolstering their Ecuador presence.
The starter gun is fired once Maxit reveal the tabled offer or deal. Then all interested parties (in the shadows) can come out and counter offer. So the first Maxit deal tabled doesn't have to be that great. In fact, my guess is that it will be Luke warm and in the 30's or early 40's. With subsequent bids potentially taking it into the high 50's and 60's if the bidders are really keen.
Maxit just need to get a deal tabled. It should rock and roll thereafter.
In his absence, Mr Hunter has asked us to publish the following factual clarifications to misinformation that has gone completely unchallenged lately:
1. SOLG is *not* going into production. Ever.
2. SOLG is *not* going to build a mine. Ever.
3. SOLG is *not* going to "advance Cascabel" in any way other than selling cascabel to someone who will.
4. There is no "strategic review" forthcoming - that was a bluff from the BoD pre-merger.
5. The "diverse book" theory is nonsense. Utter bilge.
If any of the above weren't true, the SP would be 3p right now, not 19p.
*ANNOUNCEMENT ENDS*
- Next Week : "Who is allowed into your home?" - A Music Based PSA About A Gas Repair Man. Don't miss it.
Just keep it simple and focus on the guys that have taken over SOLG.
Maxit, Irwin et al have no interest in adding value to the share price which lines the pockets of traders or flaky pi's. The only interest they have is their own interests. And when you effectively own 30%+ of the company (CGP guys/Maxit/Irwin etc etc) you have on way to sell that amount into the market without a corporate event. For instance, when the sp was 40p last year, Maxit couldn't sell into that. There simply wasn't the demand for 400m shares in a block sale. Add to this there is some doubt over what Newmont will do with their 300m shares gained from Newcrest. Will they flog them to BHP (if interested) or will they retain them? The investment / trading world is a very different one to pi's if you are a very large holder. Boosting the sp does the big holders no real favours. Creating a monetisation event which sees assets sold or the entire business is the only way for Maxit et al to exit and capitalise. They don't want to have their money in SOLG for any longer than necessary and certainly won't be tucking it away into a 25 year mine plan lol! These guys want OUT. End of.
I have two concerns as a pi with Maxit involved. First is the CGP shares circa 100m. What's to stop Maxit issuing those shares to their buddies (tut tut) at 17p or lower (heaven forbid) just a month or so ahead of a known bid outcome? Yes it is insider trading but there are rules that can be skirted. My point is, Maxit can make a 34p offer worth while to the likes of themselves and other insiders if they gain 100m stock at 17p. I guess I'm saying... insiders have 100m shares to line their pockets with when they are confident an offer is being tabled. That incentivises them to keep share price low until all are ready.
Second concern is that Maxit et all orchestrate a JV deal which sees SOLG partnered with someone like Mitsui or Chinese and JV partner commits to capital injections in exchange for ENSA interest but also we see Maxit exit stage left selling their 300m shares+ for 30p or something like that. In other words... the CGP boys still get their exit event but rest of shareholders do not, although I think the sp would be around 30p then anyway so open to trading pi's etc.
All in all, the insiders have the upper hand and we know they like lining their pockets. So that's my 2 concerns where maxis et al are concerned. There is absolutely no way on this planet that they are going to dilute themselves any further. Not going to happen. That goes against their complete end game. There will not be any equity issues unless part of an exploration company spin out etc. That's plausible as would fund it and lets face it market doesn't care a jot about exploration right now.
Do I trust Maxit et al? No! Absolutely not. Do I think they are aligned to shareholders interests... YES but they also have 100m shares (CGP) to help them with any low balls...mmm! Remember, Maxit took a wedge at 16.5p in last
RK the initial main plan was 50 years mine plan or so. The current one is 25. Imagine you do a 15 year mine plan now that requires less capex and the cash flow allows you to build the mine out with cash flow generated internally. Sharket your point on why nobody is bidding yet although they are in the DR is a good one but for how many weeks have they been in their is the question. Also even though you might be in the DR you might need to do your own analysis still, no. Maybe you have to or will do a twin hole etc. The political dynamics in the country obviously matter short term and a buyer might look to get assurances.
RK, the Prospectus is a more important document.
Anyway, as you know, I too want to see this sold, but it's important to think about what has been said by the company, no matter even if you think it's baloney.
Has red bought his 30m shares back, or why has he suddenly started ramping so hard this morning? We've had a nice break from all the forced inuendo and 'dot dot dot'.
Clown will now claim someone else's trades as his own (or his wife's), will pepper this board with nonsense he claims means a sale is inevitable (same guy who has been doing this for several years) and then, when someone points out he's a clueless ramper, he will try and invoke sympathy by making up a new disease to suffer from.
Tale as old as time.
But that predates the 15 May RNS addickt...
Funny how it's always a few months away, isn't it. Remember when the TO was going to happen as soon as the stand still ended?
Don't worry about seeming daft though: just wait a few months and claim the TO is only a few months and a couple of hurdles away
Meanwhile, in the real world...!
"producing a plan with lower capex and earlier payback opens up Alpala to smaller players"
I thought thats what Darryl did...
Why do SOLG have to do anything to get a bid...?
The ultimate buyer won't be put off by having to dot i's and cross t's...
https://www.kitco.com/news/2023-06-13/Copper-demand-will-outpace-supply-from-2026-due-to-global-energy-transition-report.html
Its only a matter of time...tick tock...
"Jiangxi Copper Co Ltd , Zijin Mining , Tongling Nonferrous Metals Group Co Ltd (000630.SZ) and others urged relevant authorities in a meeting on Tuesday to launch a new round of ore prospecting as soon as possible..."
https://www.reuters.com/markets/commodities/chinese-copper-companies-say-more-mining-is-needed-boost-supply-2022-11-09/
https://www.spglobal.com/marketintelligence/en/news-insights/research/china-mining-by-the-numbers-2022
"further out Ecuador and Argentina could become the next copper frontiers, according to Pickens...."
https://www.mining.com/charts-chinese-investment-in-overseas-copper-projects-just-beginning/
https://www.reuters.com/markets/commodities/while-dr-copper-waits-china-china-buys-more-copper-2023-01-27/