London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Interesting Red
They had 97m on 15th Dec
Solgold company website still showing Blackrock with 3.92%...
The table of shareholdings is pre the listing number of 3 billion...
Where are Blackrock...?
BHP Group Limited 310,965,736 12.56%
Newcrest International Pty Ltd 309,309,996 12.49%
DGR Global Ltd 204,151,800 8.25%
Cornerstone Capital Resources 157,141,000 6.35%
Jiangxi Copper (Hong Kong) Investment Company Limited 155,000,000 6.26%
Tenstar Trading Limited 107,877,393 4.36%
Nicholas Mather (1) 90,326,710 3.65%
Norges Bank 81,675,000 3.30%
Funny that.....
What are the key risks that are specific to the securities?
The key risks specific to the securities are as follows:
1. Certain significant shareholders of the Company may be able to exercise material influence over the Company’s business and/or their interests may differ from those of other Shareholders;
In this paragraph of the RNS
"On Admission, the total issued share capital of the Company will comprise 3,002,005,861 ordinary shares of 1p each with voting rights. SolGold does not currently hold any shares in treasury and, therefore, the above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company."
Its in the RNS which I have posted below...
"In addition, under the BHP Subscription Agreement, BHP is also contractually entitled to restrict the number of Ordinary Shares the Company may issue in a rolling 12 month period. Accordingly, if such restrictions are enforced by the relevant counterparty ahead of the closing of the Acquisition, the Company may be restricted in its current and future ability to issue Ordinary Shares and raise funding, including in relation to the Acquisition. Any such actions by Shareholders will have a material adverse impact on the Group’s business, results of operations, financial condition or prospects."
My understanding is that BHP could have blocked this through imposing limits on the number of Ordinary Shares we issue?
SP was recovering...(13.74 up from 13.24 bottom), but has now been marked down to 13.38/13.48...
Lets see...
"SolGold does not currently hold any shares in treasury..."
Does that mean we will get a stake sale RNS for CGP's SOLG shares, or...
Will they be admitted to Treasury by Monday 27 February when dealings commence...?
Watch this space
Ah Jan '24. Forgive me. We are cashed up for the year.
"The Group’s ability to fund its exploration and drilling activities, generate revenue from the Cascabel project and
effectively implement its business strategy over time depends in part on its ability to raise additional funds.
The Board expects to recommend its future funding strategy in H1 2023 in connection with the Company’s
ongoing strategic review. While the Company is confident that the strategic review can unlock near-term financing options, there is no assurance that the Company would be successful in raising the required capital
pursuant to this strategy on commercially reasonable terms, or at all."
Further to the announcement on 7 October 2022, SolGold (LSE & TSX: SOLG) announces that its prospectus (the "Prospectus") has been approved by the Financial Conduct Authority ("FCA") and has been published by the Company today. The Prospectus is available for viewing on the Company's website at https://www.solgold.com.au/investors-center.
The Prospectus relates to the admission of 525,954,360 of the Company's shares to the Official List and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). This is in connection to the previously announced plan of arrangement (the "Arrangement") pursuant to which SolGold will acquire all of the issued and outstanding shares of Cornerstone Capital Resources Inc. (TSXV:CGP; OTC:CTNXF; FWB:GWN1) ("Cornerstone"), other than Cornerstone shares already held by SolGold.
It is expected that Admission will become effective and that dealings in the Company's shares on the main market will commence at 8.00 a.m. (London time) on 27 February 2023. The Company is not raising any funds in connection with Admission.
On Admission, the total issued share capital of the Company will comprise 3,002,005,861 ordinary shares of 1p each with voting rights. SolGold does not currently hold any shares in treasury and, therefore, the above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
Interesting para on page 10 (as per PDF) or 7 (as per the doc page numbers) under "RISKS RELATED TO THE GROUP’S BUSINESS AND INDUSTRY". We apparently have a working capital shortfall of $4m at end of Jan.
"Therefore, at the end of January 2024, the Company will face an immediate shortfall of working capital. In
order to meet this working capital shortfall, and to fund the exploration and drilling activities of the Group
thereafter, the Company has commenced a strategic review to evaluate a wide range of financing and
strategic options to secure additional funding, including, but not limited to, selling a direct or indirect stake
in the Cascabel project, selling other assets of the Company, selling Ordinary Shares currently owned by
Cornerstone (being approximately $26 million based on the closing price of the Ordinary Shares as at the
Latest Practicable Date) or any other transaction, which may, or may not, dilute existing shareholders"
The RNS is on the London Stock Exchange website but hasn't reached here yet...
Duh!
Fantastic DBW
First bid next...don't miss the boat...
three billion shares !
https://wp-solgold-2021.s3.eu-west-2.amazonaws.com/media/2023/02/Prospectus-2023-02.pdf
Prospectus out
I really thought we had dealt with all this automatic trade nonsense.
It's nothing to do with market rigging.
In the USA over 50% of all trades are A trades.
It's not much less here.
If you don't believe me go look at any share and you will see A trades.
We are looking at woeful daily volume.
We cannot even get ten million a day.
I have learnt so much over the last year reading people's posts and I'm grateful quady keeps me grounded from thinking investing is a walk in the park redknight has taken time to answer some of my amateur observations and keeps me up beat that maybe in the not to distant future the SP will be two or three times this level however with all that's happened in last six months I'm scratching my head wondering how we are below 20p I don't know how to short stocks but there seems to be more money to Be made that way Than any other way!
The market is full of various participants whether autobot via algorithms programs or simply tagged to ETF ebbs and flows... at end of the day the market is a place for trading, investing and always open to abuse with FCA relatively toothless on the minor stuff (we are not talking BP or Glencore here are we!?).
The ARB traders / players have a more accurate timeline now the company has updated them all with news that new shares should be issued early March. That said.... if I were Scott and looking for brownie points (and they need them) I'd aim to give guidance that I can refreshingly beat rather than overrun on again. So you never know... you might get an RNS saying prospectus published and new shares to be issued next week.
Then again... this is SOLG!
Algos are just a means to an end to rig the market and the SP of a stock...imo
Lol Red just ignore …..
That makes a lot of sense DBW, but
Why, day after day are the majority of trades in SOLG ALGO trades? Its not as if they're making much money if they are trading in and out...
Anyhow, I looked at ENQUEST, which is also a SETS Stock and I can now see exactly what you mean.
Out of 268 trades the majority are ALGOs...
Thanks again.