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Argh thanks dinner money ,not much time so trading atm to buy more in here
Capt Mainwaring could have done a better job here, there are similarities, a bunch of amateurs "led" by an incompetent post turtle, guns but no bullets and a staff that haven't got much idea about how to do their job.
Incredibly they've managed to almost kill the golden goose.
And hopefully more to come, even cheaper as this looks like it's going to fall a bit more yet.
If I was in the "imminent sale" camp, I'd be a bit concerned now and if you're a Johnny come lately, who only got in in the hope of a sale, well .....
Just remember peeps, as bad as things look, it's a great time to add, as whatever happens (and I honestly don't see anything happening in the next 18 months), we will not be sold for anything like this price.
This is ridiculously cheap!
BTW, the blame for the delayed prospectus lies squarely with our advisors. Their job is to know what the regulations are and to advise the company accordingly. A shocking failure on their behalf which warrants a significant reduction in their fees.
Dinnermoney ,where are NCM OR BHP based?
Solgold assets = £. Cgp assets =£. Add them together =£. 13.5p ...YOUR HAVING A LAUGH !!!!!!
Your post makes sound commonsense happy.
This certainly looks like 'ceal the decks' and...
I for one think this RNS isd the result of the SR...
As to the incompetence, I have checked with someon who knows and the Prospectus and documentaion should have been a simple process.
But of course when you don't have a CFO or Ingo, there is nobody to tell you precisely what is needed.
The prospectus should have been completed prior to 14 February and that is why we have had to lend CGP another $250k to keep the lights on.
If we had had proper financial leadership the merger would have beeb completed by 10 Feb latest and the anodyne MD&A would not have landed in a vacuum of management information.
Whichever way you look at it, going back to 'French translation' and all the years of overpromising and underdelivering, this should be laid firmly at the feet of the Board of Directors...and I mean the ones who have been there all the time...
Twigger, Clare, Mather...
Caldwell, Vujik and Sangha should have known better...
The SP drifting south, interested parties will be looking at this as prime opportunity. The Ecuadorian government will need reassurance someone can deliver!
The current money in the bank how long is that going to last ?
Happy to sit back, between now and next 12 - 18 months this will be sold, just maybe cheaper than some had hoped.
Whilst we sit at this price or maybe lower the opportunity is massive for potential TO and we are clearly in that season.
Have a good day
Saints
The longer I think about it the more shocking Twiggers comments - how long has been Chairman for him to have realised this
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.