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NaL Lol !!
Yes it was Janszoon who "discovered" what is now FNQ, much to the surprise on the Aborigines who had known it was there for thousands of years .
A lot of explorers from Holland, Spain were there before Cook but it was he who "discovered" it on behalf of Great Britain in April 1770, La Pérouse turned up a few days later, a victim of the famous 3 hour French lunch habit. If that had happened it would have been all garlic and cheese instead of pies and chips.............
I'd like to retire to FNQ but SOLG is buggering up that plan a bit.
Well if we have $45m left and money is enough for June July next year means burn is more around $3.5-4m. And yes balance has been bad in October November I agree that's why I think Bob is key here.
Also to the guys claiming I am ramping here. Whatever you say on this forum is seen in one way or another so cannot change that. Claiming that I am Quady is also funny as he was claiming we will build I am saying the opposite.
Getting the business financed for 12months or 18months+ with CGP 100m SOLG shares available for issue was key to giving the business some much needed breathing space. Ecuador clearly has some issues at present so perhaps the 'pause' on exploration is not just sensible from a cash burn point of view but may also be handcuffed on permits for now.
Cash burn is a tricky one to measure as SOLG are often 'creative' with booking capital costs in certain periods. For instance, roughly speaking the business raised $86m in funds around early to late Nov 22. The recent MD&A which covered period from Dec 31st through to March 31st highlighted a cash balance of $48m.
So that's quite a wedge gone in just 4 months. My guess is that cash burn is running at nearer $4m to $5m per month. That's still very high for a company seemingly doing zero exploration and minimal optimisation work on Alpala.
Thus far, I've yet to see any evidence that Scott and team have 'saved' shareholders cash as to date the burn looks exactly as it was under old management. But as I said, should caveat this with the fact that SOLG do account for things in a flexible way. For instance... what was our 'true' cash balance at the time for the finance raise in late 2022? It must have been close to zero or even running in the red??
Copperpot. Is it just me, or do you think it strange that no sooner has quady gone. Galipagos turns up. Surely time for some infesters bile
Your right jezzoo. Everybody here wants to go to the UK. Funnily enough, most of the youngsters over there seem towant to come here. And you've just signed your first post brexit trade deal with us. So you can look forward to proper meat and wine. And in return we will let your sportsmen come over and be humiliated. Have a good day. And by the way. It was actually the Dutch who discovered western australia. But we let the poms claim it as the Dutch never played cricket
New accounts for a few rampers, I see.
The strat review will be hamstrung by the same thing that has done for the 'sale tomorrow's crowd for years. Far from multiple bidders, we don't have a single buyer. Name a company with deep enough pockets and I'll tell you why they won't bid any time soon.
I'm not happy about this, as like most I'm very keen for an out, but I'm a realist.
GD yes I agree strategic review is a tool to signal to the outside world that we are open for business. And I agree the JV route will not work for management. My view is that we should see interested parties if not we have a larger problem. Also the commentary around BHP by Scott tells me he is at least trying to get into a conversation going with them.
Hi I have been reading and following this chat for a while. I have been invested in Solgold for over 4 years now. Given the multiple changes that happened over the last 6-9 months I thought I share my view on the name.
I believe Bob / Scott have done all the right things with shoring up the balance sheet, brining in a strategic investor, starting a strategic review, reducing burn-rate, etc. The idea is to sell the business (at least Alpala). That's my firm view. These guys own too many shares for anything else to make sense.
Also a small comment on the article with Scott. I agree here with Warren that this article means we are working on an internal study that will allow a wider range of names to bid for the company. I think that will achieve two things. First it will create a catalyst towards the names that are currently in the strategic review/ DD process and secondly it means we create further optionality that will allow a real Plan B if the existing players do not move fast enough. I also believe that that internal study runs in parallel with the strategic review.
That's a bit off Needalife, the majority of Poms like Aussies and from my experience it's mutual.
I'm a Pom who's lived in both countries and I can vouch for that.
I had a Aussie mate who once asked as joke " What did the Poms ever do for us ?"
I just told him " How about we invented the modern world"
He just smiled and gave me a Vegimite sandwich................
Dbw. Are you really that gullible to think rk has a big chunk of shares. The man's in cuckoo land. The likes of you encourage him. He even puts bbg and copperpot in the shade, and that takes some doing
Thanks father. Where I come from mate it's called humor. Unlike you sad superior thinking, holier than thou poms, we laugh at what you feel the need to tell all how outrageously offended you are. I also think you will find, now that Charlie boy is in charge, your once great empire will shrink back to a tiny island in the north sea. Then you can do what you do best. Wring your hands and whinge. And like copperpot, and his cohorts dream of what you had.
Golddigit, welcome to the board.
Your name reminds me of a fella who used to post on here called goldfinger, golddigit/ goldfinger, see what I mean. just saying mate. Funny old world.
Please don't think I've joined copperpots fantasy world of I'm now irish, and anyone who disagrees is an imposter. Just saying it bought back memories. Anyway good luck
Hi FatherTedFeck, drop the "stirrer" bit buddy. Sh@t sums it up nicely!
Hey needawife, you're a talntented shดtstirrer. Fair play to you.
Attention seeking , that's all.
He’s still got a fair old chunk
Hi red, what was your reason to sell ( (if you don't mind sharing)?
Doubt. Typo. Copperpot, unfortunately you my friend have zzzzzzzzzzzzzz, when instead you should of been wide eyed watching mather mismanage your investment, 🦒
Zzzzzzzzzzzzzzzzzzzzzzzzzz!
Padmaster, I can but assume my point is made.
The fact you won't respond to my post, coupled with the fact your latest hysterical out burst only received 2 recommends ( no dought yourself and manchild) and the fact highflyman received 18 for his concerns proves my point. You and your little gang of ostriches have lost credibility
Keep posting NAL, all views welcomed here. Thank you very much for taking the time to be bothered to reply to so called end bells 🤷♂️ have a good afternoon... as I said not bothered whether 4 more weeks or 4 years this will come good, you could be here for a long time !
Highflyigman, bumpy ride indeed. I am not a trader myself either. So I am also just holding and waiting.
Novice/manchild. its interesting that your advising padmaster to ignore me, yet in 7 of your last 10 posts, youve responded to my post. just can't resist backing the big boys can you. nothing to add. just your constant craving to be allowed in the gang
bell followed by end, spring to mind
Interesting article in Forbs. Published earlier this month. This paragraph particularly relevant to your post Manchild. And how it might effect your timeframe.
"From a financial standpoint, further instability, including Lasso’s departure, could affect the terms of the country’s economic situation. Ecuador has defaulted on its foreign debt 11 times, including a dramatic and volatile default under Correa in 2008 — a scenario that international investors aren’t eager to relive, and which could cut off Ecuador from external sources of funding"
Interesting responce padmaster. Sort of confirms my point about hysterical claims to deflect the facts.
I wonder if now you've got that of your chest, you will reply to my post. I will repeat it.
"Padmaster. I would be interested on your take on father Ted's post expressing his views on the last ten years.
I found it very interesting that he received 18 reccomends. Most I've seen on here.
It would appear several posters are now ready for the dreaded ditty.
I'm afraid you and the usual wishful thinkers views and theorys are becoming less and less credible.
Why not post a post explaining why you will tolerate no criticism of mather. And let's count how many reccomends you get. Bearing in mind I will exclude any reccomends from the fantasists and bullies".
It seems you've got the manchild support, that must be a worry for you