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Very wide spread 18.22/18.78...thats 3%...
Suggests the MMs are very defensive...
I've been looking at the pattern of trading today...
Relatively small Autobot activity, so I don't think the SP is being held below 19p...
If you think back to when we briefly spiked to 21p on the merger RNS immediately following the Mistui message, it is quite clear that profit taking set in.
And this morning I think we have a healthy two way market, with people taking positions on the off after the RNS...
Some of them will hold on...some will take short term profits...some will trade around the edges and maybe some stale longer term holders will lighten their holdings to reapply elsewhere or even hoping to buy back in lower...
Lets see...but we are nowhere near the end game and there is much more news to come...
Stake sale
PFS addendum
Porvenir
News on the smaller projects (we hope)...
And all before the AGM...has to be or several could be toast...
Can see this dropping a little again, almost lunch time.
Then getting ready for a afternoon run hopefully.
@RedKnight, agree, talking different perspectives. No offence taken.
Enjoy your posts have been reading / watching Solg for some time now.
I wasn't criticising you, I was corecting a possible misunderstanding...
It doesn't in any way undermine the very good points you make...
Nobody challenged my post at 9.12
"By my simple estimate, we are buying 15% of Cascabel for 13.3% dilution...
In NPV terms, $400m (£350m) for just over £50m..."
So I reproduced something somebody else had taken the gtrouble to work out.
Another poster said at 25% NPV it represented 89p a share...
I could do those calculations but I simply don't have the time when somebody else has put in the hard yards...
So lets just absorb the opinion that it values Cascabel at AT LEAST 55p a share...
Totally agree
Impressed with recent events…. Time to get fully behind the board at the upcoming AGM
BHP / NCM most likely seething
@RedKnight, I don't think I am missing the point to be honest, the pedant can pick holes in every post and I most certainly do in my head pretty much.
You are a good poster from what I have seen, understand the context of my post in implied value at some point in the future, and this shows massive faith. CAPEX costs, risks, political, dilution of course factor into that future, I think that is taken as read. Take a step back and look at the semantics of the post and the intent buddy, simply trying to help any new to this forum with a snapshot macro view.
Its not spurious, its from a knoledgeable poster on Twitter...
I just can't be a***d to reproduce the detailed calculations on here...
I prefer somebody else to shoot it down or verify it
Very happy with the progress here both with regards to the merger and the latest funding news … important we get behind the board at the AGM
BHP / NCM will not be impressed
Once we get firmly through the strong 19p resistance the next big levels ar 22p, 27p and 31p...
Quady, let's just hope our board aren't foolish enough to expend time and resource simply to turn around in a few months and press ahead with what they were already planning to do. That would be rather stupid.
Sh4re you're missing an important point...
Its 0.6% of the equivalent of GROSS Revenues from gold and silver...
And its $50 million and $8 billion not £50m and £8bn
You have to subtract the capital octs of getting Cascabel to production, plus...
The annual costs of production...
I got the 55p from elsewhere...if I get the basis I'll post it here...
19.02 paid at 10.10...
Once we break major resistance at 19p we're headed for the 20e...even before the stake sale...
The volume is already good at 3 million, but it will accelerate if we stay above 19p...and this could become the FTSE story of the day..
Thanking the lowest level investor.
Hilarious
Approx 18.95 pence now.
£50 million investment for 0.6% streaming deal implies over £8 BILLION of value in the future.... we are currently at £0.4BILLION capital. I know this is future vs present but shows underlying faith in the long term opportunity here.
For the new to this board, SolgGold have significant rights to explore much of the underexplored Ecuador... several promising prospects already been drilled out... One of them Cascabel, which contains Alpala has reached a phase approaching the definitive feasibility study.
Lots on here think wither Solgold will get sold, or just the Alpala or Calacabel asset will get sold.
Others think this will go to production in which case the company may be paying dividends in many years to come greater than the current share price.
FOR NEW INVESTORS! Don't listen to anyone on this board who black and white says this will happen / that will happen. They may prove to be right but NOBODY knows, and the board has a history of not calling out even recent announcements (e.g. Merger). Everyone has an opinion and that is great, but those who say this will / will not happen, are guessing / expressing an opinion only or in the worst case don't have an open mind to consider alternative outcomes.
My opinion for what it is worth:
This should hopefully go back up to 20's or 30's now some short term funding has been secured.
Agree with a previous comment, focus now seems to be on strategic review... i.e. what happens next for company.
On balance of probability my opinion is it will probably get sold (just the asset) but tax implications complicate this.
What I HOPE for is to take this to production and it becomes a BHP / RIO esque company built on multiple copper / gold and other mineral assets in Equador but probably that is 10-20 years in the future IMO, along with much dilution and risk.
Moving now. Big thanks to novicehunter. Forgot i had these in my bottom drawer from years back. Bagged without even knowing
Although my initial reaction to this morning’s news is positive… the more cynical side of me does think if our share price had not been driven in to the ground, by the actions of (or lack of actions) by our board, we would not have given away another slice of future value…
The news is more a relief we now have funds, and an ability to continue towards the Cascabel DFS, rather than happiness that management have chosen the ideal option from any position of strength. A royalty deal was probably the only way forward given printing hundreds of millions of new shares just before an AGM would have been suicide for the board.
So although I’m not exactly overjoyed with another streaming deal… it does give us stability, in the run up to any monetisation event that comes from the strategic review. Hopefully providing a satisfying exit point from a share I have grown incredibly weary of holding, and I’m sure I’m not the only one….
These are the boys to follow in getting SOLG sold.
Irwin is closer to the action than anyone else.
COMPLETED-COMPLETED-IN PROGRESS are the key words for me.
I am just hoping that the bidding war starts sooner rather than later.
All to play for now.
Addicknt apols my typo auto correct :(
Bubble, Mitsui not Matsui. Two different companies.
Anybody think we may hear some more news regarding matsui?
I don't think so; the share is only 0.6% of the Ecuador prospect. This shows the confidence Ossiko have in the prospect, and they want a bite of the spoil.
I see this as a great investment, and read carefully; there's a buy-back clause. Let's hope this takes us into the 25p range again in the next week or so!
Of course, you just can't get any work done in the dark.....:)
What else can you do when you have no revenue????.....
Sell part or all the assets is probably better option but you will only achieve that for a decent value when you hold strong hand.....