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Good grief ColonelDrake what rubbish, it's after the BFS that funding is easier as we have options and interested parties. And yes we can fund up to BFS, don't you read anything.
redknight1,
Alpala is a streamers dream. The mix of PM's is exactly what they are after as it gives them options compared to say a 90% copper concentrate. That's why we heard of Franco's interest to fund $1bln or perhaps $750m between Boliden and Franco. I've not supported the idea of SOLG financing this project with or without royalty taps, I just think it's too big a call and yes an equity component would be required at some juncture but that's post DFS and too far out to worry about right now but will certainly play in the minds of those funding the here and now and the next 6 to 12 months. This is what I was saying a while back. It's harder too fund now as all involved know it's a black hole ahead of DFS.
It's time to sell and all know it. Lets get it done!
To my mind there's a very good reason why Alpala will never get to production and that is...
They have to raise a couple of billion dollars; some of that has to be debt/convertibles. Banks always want their pound of flesh in such financing...they demand shareholders have 'skin in the game'
So who will put up the equity element...?
If another major player is hungry enough we have a battle
If BHP/NCM pit up the lot or a large part of it its game over, so...
Why would any of the would be buyers let it get that far...I still say SOLG will get at least one bid by Christmas...
Bozi, because in these situations it's a game of cat and mouse. And as I have said many times before, if BHP and NCM talk cooperatively with SOLG then they may well secure Alpala from a counter bid situation which could see them both lose out completely. Their toe in the door enables them to seek some kind of deal as I'm guessing both are worried that SOLG might just do that... put it out to auction and then the toe in the door is pretty worthless as 27% combined or 13.6% on it's own is not going to carry much weight in a bid war with someone like Rio, Codelco, Barrick et all.
No rush... we are only 2 weeks on from when the starter gun was fired (the big two have shown their hand to some extent) and perhaps SOLG 'tested' it as they knew what was or is coming. All involved know exactly how this plays out.
Why do you always have to stir it up Colonel...?
You often post some good stuff but then you let yourself down by laying into well meaning posters who just happen across something you don't agree with...
Here's the quote again...
"BHP and Newcrest were apparently unwilling to invest again"
And here's the article it came from
https://www.afr.com/rear-window/s-all-not-well-at-solgold-20220814-p5b9p0
Fortissimo
Maybe the pertinent question is why haven't they announced that?
ColonelDrake you still don't understand BHP doesn't want to bid. It would end up paying more than it wanted to.
SOLG should just announce that along side exploring various funding options and structures they are also opening the data room to prospective buyers or partners etc etc etc which might end in a sale of the business or a asset etc etc.
Then see how BHP and NCM like those apples.
I said a while back that it's ironic that if NCM and BHP indeed want to bid on SOLG, why would they want to invest money so SOLG can deliver a better PFS2 and porvenir PEA. It's self destructive. Far more to be gained by them if they try and prevent SOLG from raising funds and thus weakening the business. This is an all out attack. The reality is, SOLG only needed enough cash to get through to the AGM.... because after that it's game over for quite a few board members and that includes their nice bonuses.
NCM and BHP and steering SOLG into a corner as time and cash burn is against them. One victory would be raise cash via royalty, but then that's pointless for some if it means they are toast come Dec AGM. See the dilemma for management? What's the point of extending SOLG's future if you're simply giving more equity to your predators/enemies and in process actually likely to weaken the BoD's.
It's Twiggers job to get heads together and not Darryl's or Mathers. Twigger is supposed to be the one that delivers the balance. We've heard very little from him since his volley to BHP last year.
Precisely, look what ggp have gone through tells its own story. NCM will definitely not be bidding for solg at least not for the foreseeable.
Course they are Schlem.
The only difference is that they've done the vast majority of the graft at Havieron over the last 2 or 3 years so it's as unsatisfactory as it is it is tk be expected.
They've done bugger all here though since they pulled Craig Jones from the board, apart from buy a few new shares here and there.
They've muscled in on their tier 1 asset. They should support the other fairly.
Look at Newcrest's filthy behaviour over at GGP especially regarding the initial reserve document...they're greasy bassstards who want summut for fcking nowt
Wow, some folk on here working their socks of this morning to get the negative vibes going again after what was a pretty clear weekend of discussion.
BHP and NCM unwilling to invest again? Mmm... would that be because they don't want SOLG delivering more value via PFS2 and Porvenir PEA?
About time these two large holders put up or shut up. If they don't want to invest (which we know is untrue) then we'll go down the royalty route. BHP and NCM do not control SOLG. Shareholders and the board control SOLG and BHP and NCM might have huge market caps and be billion dollar companies, but when it comes to SOLG, they have just a minor toe in the door.
Keep up the work guys.... it's amusing to watch.
Don't be so negative jezzoo, there's always light at the end of the tunnel
In case you missed it...
https://www.afr.com/street-talk/fork-in-the-road-looms-for-bhp-newcrest-s-copper-play-solgold-20220814-p5b9oo
"While SolGold couldn’t raise equity at the drop of a hat last month, it’s not because it doesn’t have deep-pocketed backers. Quite the contrary.
SolGold’s two biggest shareholders are Australia’s BHP and Newcrest Mining, with toehold stakes worth 13.6 per cent and 13.5 per cent of the company, respectively.
With SolGold reported to have only enough cash to see it through to the end of the year (after scrapping its recent $50 million top-up), there’s bound to be a time in the next few months when its two big Australian shareholders will have to decide how much they want Cascabel.
If it’s a bit, then the two shareholders will have to tip into an equity raising and try to maintain the status quo.
But if it is a lot, like some analysts suspect, then we could see a pair of Australian heavyweights in a ding-dong battle.
The company’s annual general meeting, slated for November, is a key date to watch."
That's a pretty damning article, they basically said that the BOD don't really know what they are doing and are out of touch with the way finance works nowadays didn't they ?
Companies with a footprint in Ecuador...batting list...?
BHP Group
• Anglo American
• Codelco
• First Quantum Minerals
• Newcrest Mining
• Southern Copper Corporation • Fortescue Metals Group
• Equinox Gold
• Lundin Gold
• Lumina Gold
• Dundee Precious Metals
• Aurania Resources
Luminex Resources
• Cornerstone Capital Resources • Lucky Minerals
• Solaris Resources
• Titan Minerals
• Salazar Resources
• Adventus Mining
PLus Jinxiang copper and Barrick Gold of course as potentially interested parties...maybe even Gina Rinehart/Han****...she failed with SXX...
Good find that do line lines are drawn RK
Just to remind you...
DGR DIDN'T participate in the April 2021 placing at 25.5p...
Blackrock DIDN'T...
Mather DID
We presume BHP and NCM did as there was no dilution RNS
Meanwhile, in my trawl I came across this which I had previously overlooked...
"On April 30, 2021 SolGold exercised its 500,000 warrants held in Cornerstone Capital Resources Inc for 500,000 ordinary shares at a cost of CAD$1,000,000."
Sorry Redknight over the years your analysis has often been complete tosh.
Your saying a streaming deal won't work, because BHP and NCM are going to scream and shout and stomp around very loudly.
Solgold must be terrified.
Thank you BNC, your spot on. We have options. If the majors want in, they are welcome, but on Solgolds terms not theirs.
So it looks like this...
Barclays wants Barrenjoey to make a statement in the OZ capital markets...
Everyone knows that SOLG need funds...
Barrenjoey brings a cashbox deal to SOLG, but BHP and NCM don't like it (as before...)
SOLG proposes a rights issue instead but BHP and NCM don't want to throw more money down the toilet while they are working on a joint bid...
By the same token, a streaming deal won't work because BHP and NCM went ballistic last time, so...
BHP/NCM seem to have SOLG by the short and curlies and I wonder if the bulk if not all of the cashbox was coming from Barrick...still my favourite to prevail because after Twigger's outburst in 2020 and no love lost between SOLG and the two behemoths, surely the Board would not recommend any deal with BHP/NCM if proposed, so...
If it comes, who comes in with a counter, like happened with Noront...the Chinese...Barrick...Rio have just had a massive setback in Mongolia...?
if true, it shows they are working together.
"BHP and Newcrest were apparently unwilling to invest again, and a second raising that would circumvent pre-emption rights was ultimately seen by shareholders as not appropriate. And fair enough, it’s a £600 million company, not a Perth-based penny stock explorer, though it’s only got about $25 million left in the bank."
Wait for ColonelDrake to put the spin on it.
We're on another collision course with them, aren't we?
recent quote from Gazebo - at diggers and dealers
"“I’m not worried about getting funding through the definitive feasibility study. I’ve had multiple calls with investors. I’m not worried about it. And DFS, by the way, and the bankable feasibility study, that then opens up offtake options and funding related to that as well. So you get to that point, it opens up other options,” he said."
i posted this last couple of days.........“I’m not worried about getting funding through the definitive feasibility study. I’ve had multiple calls with investors. I’m not worried about it. And DFS, by the way, and the bankable feasibility study, that then opens up offtake options and funding related to that as well. So you get to that point, it opens up other options,” he said.
I posted this over the weekend............
Of course we can raise money if we need it