Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Half of the people lambasting our board have spent every year voting them back in… and imploring others to also vote them all back in.
Comment from Zac Mir of Vox Markets -
SolGold (SOLG) provided an update regarding the company's activities and the progress of the previously announced Cornerstone Capital Resources Inc. merger transaction. The company said it remains fully committed to ensuring that all shareholders are rewarded for funding the Cascabel discovery. The top priority is closing the Cornerstone transaction and advancing the ongoing strategic review. In parallel, it is focused on optimizing the organization and ensuring a disciplined approach to the allocation of resources aligned with the Company's value maximization objectives. The delays are inexcusable.
Comment: Companies chastising themselves is an interesting approach, especially with regards to delays, in that it is in the nature of the stock market, with all the legal and regulatory overload. Perhaps the message to SolGold is for the company to not be so hard on itself.
sorry about predictive text... 'Scott's team' not Scotland... the latter seem to be doing much better these (rugby!).
I certainly agree the Scott's apparent disparaging comments toward SOLG's corporate non performance was a bit hypocritical! He seemed to **** all off and keep himself on some kind of parapet. Whilst it's easy to criticise past management is should also be noted of their achievements. Here's some facts to consider...
1. SOLG's lowest share price for some years (on a VWAP basis) has occurred since Scott /CGP took over.
2. Signs of unprofessional and disorganisation seem more evident now with the CGP team in charge than before. SOLG past management were not perfect by any means but that looked and sounded a bit more professional imho and did not air dirt linen in public unless being attacked by likes of BHP and NCM.
3. SOLG past management secure $100m Franco deal and a number of successful equity raises well above 20p.
4. So far, the 'new boys' have delivered a $50m royalty (at more expensive rates) and issued equity to new investor for the lowest equity price in 6 and half years?? !!
5. Maxit - made the decision back in 2016 to sell their SOLG shares to BHP for 25p! They retained their CGP stock.
6. The CGP boys achieved very little with the remaining CGP business with failed JV deals with NCM and pony drill results across bulk of their folio with exception to Bramados which they JV'd out to Sunstone and as a result have a minor interest.
So whilst I appreciate that many are pointing fingers at past SOLG management, the reality is the new boys in charge have delivered very little, the share price has crashed while on their watch and we've seen a very cheap equity placing.
Perhaps the reason the SOLG share price was steady eddy in the mid 20's under Mather (for most of the time) was because the market thought SOLG management more capable. eg $100m Franco deal was a game changer and prevented hefty dilution which would have virtually handed the keys to NCM and BHP.
I appreciate the directness of Scott, but it needs to be done professionally and he needs to accept some responsibility himself rather than doing the weak thing and blaming others.
All in all, the share price is battered and at multi year lows because of Scotland team not because of the old SOLG team although I must acknowledge Darryl certainly didn't help things nor did Mr Inflation.
I further accept that mention of us being toast was a trifle hyperbolic. I’d had a few beers!
DM.... your post is, as far as I understand matters, completely correct. My concerns, such as they are, surround the length of time we have been in feasibility for Cascabel, and how negotiations are progressing towards extraction given the lack of a DFS. I accept your point that up to now, this area, and our relationship with the authorities in Ecuador is indeed something we have been doing well. But the risk, as you point out, is clearly stated in each annual report, and must increase as time elapses with little progress. Mention of reducing workforce also will not help in terms of our ongoing goodwill for these negotiations.
FTF, glad you pointed it out... SimplyWallStreet is a nonsense website.
That's a computer-generated article, you dingbat.
Bozi, by the time the new team got their feet under the table the merger process was well under way, so I'm not entirely sure they can bear all responsibility. Having said that, they are partly culpable. On the broader point I'm pleased we now have a better understanding of just how poor the previous regimes were. The evidence was there to see and it's refreshing to have my view confirmed.
I've made the same point about giving them time on several occasions and have urged them to make sure they deliver on their promises.
The main reason for my optimism is that I gained a real sense of urgency from the RNS. They know they've put their heads above the parapet and they simply must deliver. I've never felt that before. They've committed to a timetable for the merger completion, but I feel it's a pity they couldn't do the same for the SR.
Overall, the RNS confirmed the change in style and hopefully, substance of the new board and gave a commitment to tackling the profligacy, waste and dithering of the previous regime. It feels like a breath of fresh air. I hope we're not disappointed.
Novice …. Sorry that’s just nonsense
Any inadequate bids could and would be easily blocked by major shareholders.
Kat …. Exactly 99% of companies carry some form of debt. , completely pointless article.
Wonder what Scott Caldwell meant by this
“I believe it is imperative to take bold action now, ahead of the close of the Cornerstone transaction”
Does that mean something is imminent prior to the merger completion? Or are they just talking about cost cutting ….. is that bold action?
new format is rubbish and makes the discussion more difficult to follow.
It doesn't lead to greater optimism bozi, as far as I am concerned this latest RNS is just a case of delaying the inevitable drop down to circa 5p at which point a 20p per share takeover by 1 of the 3 main interested parties will look fantastic for all new comers to the party , for us LTH we'll make a profit but hardly anything to write home about after holding for 5 or 6 years :((
Add - those who are happy he made it public are our Exiteers in the main. They probably think it's suggestive of an offer or other transaction.
I just found it pretty poor to be swinging for a previous regime while guiding on a timeframe miss of their own.
Wait until the ship has been fully turned and any criticism can be backed up by fundamentally better performance.
Maybe I can turn your question on its head if you will allow? Why does Friday's events lead to greater optimism?
Fort, I do agree with you about the trader mindset and also the mechanics of the current share price.
Hopefully the tide can turn once the merger completes, assuming the company will have some positive news to share and the wider market is conducive to a decent recovery, because it is bloody well needed.
This is a joke. You're saying that losing 40% of its market cap. because of a ****y 60m in net debt, whereas there are mining companies ( never mind things like tech unicorns ) with BILLIONS in debt, but have solid market caps in the billions also. Pure fantasy and scaremongering.
No problem Copperpot.
I posted it as it may give an indication as to why the share price is what it is and none of the rubbish sprouted by people on here saying the price is being walked down.
It's not.
Thanks for that Quady, I'll have a read of it later, I'm a bit busy at the moment.
Good luck buddy.
Is Macron a total joker? How can he be President of a country ffs. Russia is crushing Ukraine , but lets not crush Russia because he has no balls for that. Typical French , roll over.
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. Importantly, SolGold Plc (LON:SOLG) does carry debt. But the more important question is: how much risk is that debt creating?
When Is Debt A Problem?
Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own cash flow. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. When we examine debt levels, we first consider both cash and debt levels, together.
See our latest analysis for SolGold
What Is SolGold's Debt?
The image below, which you can click on for greater detail, shows that at December 2022 SolGold had debt of US$139.4m, up from US$113.0m in one year. However, it also had US$77.2m in cash, and so its net debt is US$62.2m.
debt-equity-history-analysis
LSE:SOLG Debt to Equity History February 18th 2023
How Strong Is SolGold's Balance Sheet?
We can see from the most recent balance sheet that SolGold had liabilities of US$12.0m falling due within a year, and liabilities of US$144.3m due beyond that. On the other hand, it had cash of US$77.2m and US$9.72m worth of receivables due within a year. So its liabilities total US$69.4m more than the combination of its cash and short-term receivables.
Since publicly traded SolGold shares are worth a total of US$386.6m, it seems unlikely that this level of liabilities would be a major threat. Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse. The balance sheet is clearly the area to focus on when you are analysing debt. But it is future earnings, more than anything, that will determine SolGold's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
Since SolGold has no significant operating revenue, shareholders probably hope it will develop a valuable new mine before too long.
Caveat Emptor
Over the last twelve months SolGold produced an earnings before interest and tax (EBIT) loss. Indeed, it lost US$23m at the EBIT level. When we look at that and recall the liabilities on its balance sheet, relative to cash, it seems unwise to us for the company to have any debt. Quite frankly we think the balance sheet is far from match-fit, although it could be improved with time. For example, we would not want to see a repeat of last year's loss of US$1
I can't get it to open Quady when I tap on the link? Would you copy and paste it here please buddy if you can open it.
Thanks in advance.
Who talks the most carp on this bb? I would say Rednight , closely followed by Fortissimo.Do those guys think anyone is remotely interested in the inane rubbish they spout?( Except Bubble ,excused)
Polls mean nothing , hard cash talks the talk. Why don't you guys shtyu th f7 UP . Sh%ttalkl EVERY BL%%DY DAY WHILKST SOLG burns. And all our hard earned cash. Ignore me all you like , I tell it as it is.
Just to make it easy for you , not patronising. I have 32k invested here at 26p , was hoping for 55p. Now just want my money back from this sh%tshow