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The reason I'm upset is because we could have told them to follow this new strategy 5 years ago.
What value have they added in that time, apart from the value in their bank accounts?
We are also putting our faith in them now to get it right even if a few new faces are involved now.
Copperpot I hardly think my 5 posts in over two years is excessive or warrants claims of de -ramping. We are all entitled to our opinions and share our concerns and hopes.
Let’s hope the next few months give us all reasons to celebrate.
Hopefully upwards gap
13.76p at last closed. No other low ones as far as I am aware. Good luck all
Ain't it funny that all the doom mongers here of late only have a single digit posting history. Transparency of boiler room deramping at its best!
To put some flesh on the bones of your argument, our peak valuation was about 900m - today we are about one third of that. That's what the pursuit of the production pipe-dream has done for us.
I think we can all agree the share price performance has been pretty disastrous since June.
No matter how much we personally believe in the Solgold story, the markets don’t currently agree with us. Sadly there is no appetite for anyone to buy our shares in any significant volume.
I would appreciate any thoughts on where the next support level might be?
There many events and requirements pulling at various ends of the SOLG management team. Whether it be tidying up the loose ends of the Accounst pre merger or not, one thing is becoming very clear.... we are currently in negotiations with Lasso and Ecuador mining team with regard to moving from exploration terms to exploitation terms on our ENSA licence. This is key as it moves us into the next phase which I believe carries commitments on both sides. Those commitments must be backed up eg... funding in place. We may have ticked the box near term with the $50m raise but if timelines start to kick in on the mine life from Dec 2023, then we need to have ENSA partnered or sold before then or around then for sure.
Fast and smart is not just a selfish CGP mantra for the greedy ones. It's about moving ENSA/Alpala forward without losing crucial mine life and profit years.
Exploitation negotiations were noted in recent MD&A.
Ironically .... for SOLG to progress these discussions with lasso and team (as of now) they must already have a credible partner or finance plan lined up. Otherwise, you can imagine the sit down discussion starting with.... so guys before we help with some taxes in early phase etc etc just remind us how you are going to fund this $3bln??
FWIIW, I think CGP/SOLG have been working hard behind the scenes since July 2022 so well advanced. Like true SOLG... shareholders are being updated 3 or 4 months behind... but what's new!
Sorry forgot to say thanks Dreamboat for the response.
Can someone confirm if I've got this right:
- Straight merger where they receive 20% of the value of Solgold as an entity equating to 15 Solg shares for every CNR share
And
- Solg have the right to pay for 20% (of that 20%) of the consideration in cash, equating to 4% of Solg shares in issue
Can someone confirm this is correct? If so a few questions:
- Is there a set price that Solg can elect to buy the 20% (of 20%)?
- Does CNR come with any assets?
- Someone has mentioned previously Solg own a % of CNR, how much do they own?
Thanks for your help (to anyone who responds).
Wait for the "sea change".....it's coming! The change in trading volume
is pony at the moment, it will change, and the sun will break through!
Repetitive strain phil...
Every significant event/RNS gets delayed...
They have consistently overpromised and underdelivered..."shock and ore"..."one of the best holes in South America..."...etc
We are permanently on the cusp of some significant news. Unfortunately, solgold has a track record of delays and disappointment.....
Folks is someone able to provide a run-down of the merger deal with Cornerstone? Or point me in the direction of where it's stated. Thanks in advance for any help.
Q, you say the company will be explaining how to move Cascabel forward for the 'umpteenth' time...I wasn't aware they ever have.
RK, good spot RK and it makes sense.
I'm not sure you're right about the SR, although I'd love it if you were.
There wont be a SR addickt...merger completed then bid...
My heart wants to buy, my (risk management) head says enough is enough. I had exactly this same feeling when I bought £200 worth at 1.5p back in the day, couldn’t bring myself to buy £1000 worth. Boy did I regret my sobriety. I hope to feel that sort of regret again very soon!
Dave it will no doubt drift down day on day without news, that much is certain….. it’s just a question of how much longer we have to wait and whether one wants to risk jumping in and out at this stage.
I believe I may have bottomed the reason for the delay...
When I was looking for CGPs accounts yesterday to work out how long $250k would last, there were none filed since the June Quarterly.
The Prospectus would have to be based on the accounts for the latest period for both companies. Therefore, CGP would have to prepare either the September Quarterly and/or the Annual Accounts...and if the latter they would have to be audited...
The clue was also in the 7 December SOLG RNS...
"The Board of Directors of SolGold (LSE & TSX: SOLG) wishes to announce that as part of the regulatory materials required for the proposed merger with Cornerstone, the Company is required to refile its Annual Financial Statements for the year ended 30 June 2022 ("Annual Financial Statements"), with amended auditor's opinions as well as reviewed unaudited interim condensed consolidated financial statements for the three months ended 30 September 2022 ("Q1 FY2023 Financials"
Hence the delay...
Frustrating watching the SP slide on no news, but not long to wait now...
Agreed addicknt we need to hold for the strategic review so the company can explain to us shareholders for the umpteenth time how we are going to move Cascabel forward.
dave, surely the logical answer to that is you hold until the SR is produced? It doesn't seem to make sense to sell when we're on the cusp of potentially significant news.
Of course, I accept it may not deliver what we want, but I'm of the view that Sangha and Co entered this arrangement with a very clear view of where they want to take things - all they have to do now is deliver.
It's a question now of how long do you hold though, there appears no support to the SP at present
Morning Add
Yep funding overhang has gone, major new institutional investors on board ….. just sit back and wait for news. Todays rather depressing share price is no reflection of where this can end up.