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DBW correct that's the way it's going and soon imho
“If you disagree with selling the company and it is not sold by then, then vote against the board. Not sure what your plan would be other than a sale. Do you want to build it?”
“Scott knows the plan. He is cutting the burn rate and getting everything in order for a sale”
Seems the SR fairly redundant if they know the plan
In fact it seems to me everyone with half a brain cell knows the plan….. just saying:)
Earth quake at Canton Balao Ecuador on 18th March
Shareketmare ,get well my friend ,ked look I for the red dot
Good stuff fortissimo,... holding the fort against the unwell and the malintentioned.
That wasn't where I was going Add. It'll be more valuable in 2 or 3 years time let alone 10.
I'm no advocate of a JV whatsoever but I believe the initial point is a valid one. We can only take it no further because everyone has left or been fired and the company has maxed out on royalty deals.
Fort - if Bob's phone is ringing off the hook then we should bloody well know about it, particularly now Scott has his options.
The share price tells a certain story and it's not really one that involves phones ringing off hooks.
By my own admission, we've all had to put up with a lot of disappointment here at SOLG, and if credible proposals are being received then the market needs to know about it, pronto.
Dave not cave...
Agree - I think that's part of the plan. But before you can get the likes of BHP or Rio or Anglo etc to counter offer, you need a realistic albeit cheaper offer to be tabled first.
The 5%+ cheap equity placing to chinese at 16p ensures that they are onto a win win scenario and incentivised to roll the first domino.
When it kicks off, I imagine those that are saying.... get me out of here I'll take 30p tomorrow anything to end this sorry tale .... will be saying... I'm not taking 40p as first offer... I want to see counter bids and 50p+.
When Bob and Maxit are ready, due diligence fully covered off... then we'll get going. In meantime, we have the sorry tale of director remuneration to be sorted first (Scott got his in early) and then we have the debate on spin offs for non ENSA assets. I think the quandary on the latter is that a buyer may only offer top price for ENSA if they get everything else for free. So spinning it all off before an ENSA sale could be counter productive. That's why it's all bound intricately together in early stage talks as you get to understand what the buyers want and where they see value.
As we know the Chinese are already heavily invested in the south and keen on Porvenir. There's leverage in negotiations on licence blocks in around Warintza too. Codelco et al no doubt very keen. The northern region is a different animal and solely dependent on Alpala going ahead to ensure infrastructure build takes place which then means other licence blocks become more economical than before. Standard early mine development stuff.
Hi Bozi...
Juniors have been languishing for years but there is always a bidding frenzy at some time...
In the meantime, copper is flat...inflation is rampant...interest rates are high...ANC NA markets are pretty much closed to mining funding...
However the impending copper price boom is looming and gold is rising....possibly to a new high...
It's only a matter of time before someone breaks ranks...fir the time being Jiangxi have the initiative but as the article below states, the NCM Newmont situation could be the key that unlocks the next wave of consolidation.
For example just look at Equinox Gold...their SP is languishing at not much more than 1/4 of it's all time high despite it being set to produce 1 million ounces of gold next year...
As I said...there is a rerate coming, consolidation and a bonanza for SOLG shareholders with the patience to hang on...or average down...?
Can't believe we're having to tell you this again, Fort, but here goes:
"If SOLG leave it too late, they will be heading into a very dark and tricky corner with options becoming more limited as time ticks by and cash pile falling with equity raises likely."
Solg won't be the ones leaving it too late. Because (say it with me, people, you know the words by now) SOLG don't control when we sell!
As for kat's comments about majors not waiting... Please. Majors are not bounced into expensive M&As because small caps really, really, pretty please, desperately want a sale. They'll not rush.
Oh dear cave...you'll be sorry mate...very sorry...
RK, yes, I do, but to clarify, I mean we will not see a hostile bid appear out of the blue. It's perfectly feasible and desirable that one will emerge after we've announced an agreed deal, but that's not the same thing.
"this will never become a hostile situation"
Really addickt...do you believe that?
I certainly accept that Jiangxi have the capacity to bid at a level others refuse to match, but surely that would be well over £1...?
I could also foresee the Board announcing they are recommending a bid at a lower level, but even if that happens, I could still see a bidding war...
Otherwise why are BHP and NCM still hanging in here...they ain't getting a J/V, that's for sure...
I would still like to see Barrick take this away... Mark Bristow has publicly stated they're looking at copper gold prospects and the article below supports that.
We may have looked at SOLG as a copper play, but the higher the gold price the more sexy it becomes and there is still a correlation between the solGOLD name and the gold price...probably what's holding us up along with bid hopes...
RK …. WhatsApp
C'mon mate...do you really believe this...?
"Another frankly bewildering point here is how some don't see this as being an out and out firesale, despite individual shareholders virtually imploring management to sell the company. A firesale is exactly what it is and that means there's two options; we either get a pitiful recommended offer as some are now acknowledging or the company holds out and we see the SP cut at the midriff."
Quite astonishing...
The Noront takeover came when there was no M&A activity and the Juniors were beaten down and going nowhere...
23 to 105 in a matter of months...and BHP was one of the bidders...
No matter what Nick's ambitions may have been in the past and despite the vast prospects for Cascabel, we are a Junior...and until the Junior M&A frenzy starts, or more likely the first bid comes in here, we must wait...
It is so predictable that when the SP is going nowhere and there is no meaningful news, that even committed shareholders on here start trawling negative views...which is surely asking for a self fulfilling prophesy...
I have been criticised in the past for 'trading's when all I was doing was taking a view and dealing on it, averaging down or, as on two occasions, banking double bubble profits.
Frankly with SOLGs history it astonishing that anyone would have bought SOLG shares and just sat on them. Past history shows that is asking for disappointment...
The big payday is coming...unless we get a right royal bidding war we may not get the £1.00 plus that I originally proposed.markets change.just lol at many UK shares and miners right now...
But the idea that at best we can hope for a cheap takeover is preposterous...
Keep smiling and keep the faith. Since October this has been set up for a sale..its just frustrating waiting on Bob.
GLA..
I have since read the WI thread and apologise for my outbursts last night. Sheepish and sore head this morning - a few weeks off the BB for me I think. All the best SOLGers.
Yes totally agree on the gold copper mix. The great thing with Alpala is that we have an even greater mix than that with loads of silver and other pm's. As NM said a while ago... the smelters or royalty guys like Franco et al LOVE the Alpala metal basket. That's what makes Alpala so special.
Wouldn't know listening to a few pessimistic posters on here though!
Morning RK
Interesting stuff
"He said that the potential Newmont-Newcrest merger is also weighing heavily on the sector, but if it goes through, it has the potential to change the fortunes of the juniors.
“As a junior mining investor, I still hope that the mega-merger between Newmont and Newcrest goes through, maybe at a higher valuation,” he said. “It means that more money might come back into the market. Let's assume it's a $20 billion takeover, that's money that could get reinvested into the sector, that's very positive. Try to allocate $20 billion in the mining space. That's a big chunk of change that needs to find a new home, and it won't just go to the majors. Some of it might trickle down all the way to the juniors and that has me positive.”
Hoffmann believes that egos and lower valuations are keeping mining executives and their boards from pushing ahead with beneficial mergers. “If you were trading at a dollar last year you wouldn't accept a merger at 30 cents right now,” he said. “A lot of companies are sitting on that valuation gap right now, and boards are not approving terms. It just doesn't make any sense, and nobody wants to look like a loser.”
Hoffmann said that in the current environment, it’s not surprising to see interest move from precious metals into the base and battery metals.
“It's definitely trending towards the base metals right now,” he said. “Gold-copper projects are being loved by the market, it's just that optionality with copper as well. There will be a supply-demand gap at some point, with electrification and the goal of reaching carbon neutrality..."
https://www.kitco.com/news/2023-03-22/Fed-has-punished-the-gold-sector-and-Musk-is-wrong-on-copper-Kai-Hoffmann.html
Bozi
I only think warren comments get lapped up your words
Is in the absence of absolute no comms apart from the usual Solgold mantra
He is seen as a figure close to the very people running the show
Are buys
Bozi, in my view your argument collapses because we will not be able to take this much further. So as much as I agree it would be more valuable in ten years time when it's producing, the fact is for practical reasons it will never get there under our ownership. This is the issue.
Bozi,
How do you know that Bob's phone isn't inundated with calls of interest? What tells you it hans't? Majors might well be banging on the door but you or I won't hear about it until they are ready.
Name me one Tier 1 asset that has been sold way under the market value. Go on... name me one.
Who's everyone? Not everyone is ready to sell up cheap. A few retail investors here and there but apart from that, most want full value or as close as we can get to it.
As for conditioning... I agree to some extent but that's largely down to a few on here. Most brokers or analysts haven't changed their views or targets on SOLG. Most remain the same around the mid 70's.
I'm all ears when it comes to opinions but for the very reason of 'conditioning' do not ike spurious 'feels like a disaster' or we are desperate or what's wrong with our asset... we have no interest ... it's all utter nonsense.
In terms of timeframes... it's important SOLG get the asset sold or financing in place for the development stage as Ecuador gov approvals are staged in a way that means Capex requirements come calling. If SOLG leave it too late, they will be heading into a very dark and tricky corner with options becoming more limited as time ticks by and cash pile falling with equity raises likely. But that's a story for Q4 2023 not Q1.
Hope the above answers your questions.
Fort - at the very least you could respect the opinions of others, those that are genuine.
Lets be completely honest with ourselves here. We all consider Cascabel to be a tier 1 mine in the making and a very lucrative asset during a copper price boom, which the urbanisation and electrification of the world points towards.
So why aren't the major miners, at a time where markets are subdued, banging our door down for this asset? Moreso, why are SOLG investors so desperate to sell the asset and the company before the impending copper boom and ensuing pricing sweet spot?
Are we saying everyone needs the money during the downturn that we might experience beforehand? Surely not.
Tell me why everyone is so desperate to sell their fiver for a pound now when in all reality it could be worth a tenner or twenty with patience? All because SOLG missed a few deadlines and aren't moving it along as fast as we'd like?
There has been a proper conditioning job done on investors here during this journey we've all been on, so much so that everyone is happy to grab what they can and forego the upside down the round.
Either that or none of the above applies and we've been sat on a fabrication the last 10 yrs. Which is it?
Warren knows that his commentary, be it at conference or over zoom for a mining YouTube channel, gets lapped up by SOLG shareholders. He's probably enjoying messing with people.