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Could see a decent re bound now that the RNS has been digested. At least it was honest and provides a base to build from now with the uncertainties of the merger clarified.
Happytom,exactly so on the fence watch it unfold imho well kniw soon enough once merger complete odd cup would want to merge if they thought solg was about to go for next to nothing imho two assets together 13.5p think mms are loving this imho they will make shed loads out of this to the detriment of others hold fast go.
I think given their current situation it's fair to say that NCM are not going to be pursuing ownership of Cascabel. BHP - who knows. Their strategy of sitting back and doing nothing isn't working out too badly so far. I imagine they read this morning's RNS with a wry smile given the bravado of Bob Sangha a few months back.
Does anyone actually believe this tripe? Ev.eryday the same old rubbish from rk
This is another aha moment for me...
Apart from 'kitchen sinking' all the disappointing news and blaming the Board and past management...
I believe this is a deliberate challenge to Jiangxi, BHP and NCM...
For all three, make a bid or we will start to sell off SOLG piecemeal...(e.g. a chunk of Cascabel to Mitsui).
For BHP and NCM...now is the time to decide...
"We can sell part or all of Cascabel"...which massively undermines especially BHP's reasons for continuing to hold a stake...
It would be worth even less if you let this happen.
So...decide whether you're going to bid in the next 10 days, or...
What price you're prepared to sell to an alternate bidder...
But you can no longer sit on your hands...
And to all major shareholders...now is the time to decide why you're here...
Either you determine what price you're prepared to sell your stake at, or...
Be prepared to hunker down for the long haul...again...
Touche!
Just waiting for Red to say he sold before this current dip and is now just waiting to buy back in.
The benefit of imaginary trades is that they're very cheap, and they don't usually attract any stamp duty.
C,mon Hubris , give the guys here some comfort with your wise words. You know they hang off everything you say , although it's usually bs.
Yep seems pretty clear to me shark, views on reading between the lines quad
It's in the RNS Quady.
"As previously disclosed, the Strategic Review includes, among other things, evaluating and pursuing value-enhancing opportunities for the Company, such as:
· evaluating financing alternatives for the Company;
· a spin-out of assets, other than the Cascabel project, to all shareholders;
· the direct or indirect sale of an interest in the Cascabel project howsoever effected; or
· any other transaction or series of related transactions."
Wise words H. I was pondering similarly.
I think we're fecked is a pretty good assessment imo. Why would anyone buy a lame horse , because that's what we're becoming every passing month. As the cash pile diminishes further , so will the SP. It doesn't take an expert to work that one out.
Bozi, in some ways I agree, but thank heavens for our new management team and direction. I can't imagine what state we'd be in if DC was still in the driving seat. What a useless waste of space he turned out to be.
Market disagrees Addicknt.
There seems to be an air around us that we've done our dough. I really really hope this does not turn out to be the case.
Q, au contraire.
The only reason we'd head in that direction is if we can't find a buyer. If we can't find a buyer, we'll struggle to raise finance. If we can't raise finance, we're fecked.
Apologies if someone has already said this and I missed it, but I read this differently than what I see discussed.
There are two statements rolled into one, albeit that they are related: completion of deal, and confirmation that the board needs a shake up to remove such errors going forward, which leads to the other message; we are removing that which a future owner would not want, so that they can come in clean and garner immediate goodwill instead of bad will that would come from laying off workers and management.
I've been through a number of exits including one that looks very similar - potential buyer wants one asset for which they will acquire the company, but doesn't want to have to handle everything else, so the existing company is given the option of either ditching it all or spinning it out to a newco that is not in competition. In my opinion, this is what is happening here, SOLG is being prepped for sale including known asset (Cascabel), and the exploration side which is just a cost at the moment will be split into newco owned by existing shareholders if they want it. If this is the case, it will be announced shortly after 27th.
Here's the rub though - if splitting off newco, will existing shareholders see full benefit of current asset value? That's why I'm neutral at the moment - could be a massive buy opportunity, or it could be the death nell of asset value. I won't sell up, but I won't buy more either until things are set in stone.
Hi Monte could you provide the link please.
Jezzoo how on earth is going to production desperate.
It's the let's get it sold group that's desperate as they have been for over ten years.
Addicknt agree cheap as chips
Just think of all the new jobs to come once that ENSA block gets into someones hands with deep pockets. Must look forward, not just here and now, Ecuador are set to be transformed through mines like Alpala and others.
On a side note, assuming cash pile is $80m as of now and we have about $25m burn planned for first half. That leaves a decent $45m+ going into H2. I think their aim is to do some target drilling on regionals and hope to hit big while also doing the ENSA sale JV talks or full sale. If they hit big on Rio or another then it might force buyers hand to act more quickly but certainly strengthens SOLG's hand either way. That's why moderate exploration is always the best defence to low balls. As for the other 60 55 odd licence blocks... they simply have to get these buttoned down or lose them. So JV them to linden or sunstone or Gina or FMG etc... just don't relinquish them for nothing.
Over the next couple of months we know we're going to see a raft of announcements.
1. End Feb prospectus and merger completion.
2. Details of reorganization and cost saving.
3. Release of findings of SR, which has already been five or six months in the making.
All of this will be transformational - what's not to like?
Oh dear all those locals making bread, coffee and planting trees losing their jobs is not going to go down well with the Ecuador government is it ? but hey at least it should all give us a feeling of well being that we have supported them financially over the last 5 or so years ;((
You too skint.
:)
I agree the Bozi solution would seem the most likely right now ..
12p today
great...............
Got to be worth a further punt for a quick 50% shark, but that's pretty much it now, my 55p by Friday posts in jest are now looking like a distant possibility ;((
Have a great weekend all except TR xx