Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Looks like you were bang on the money Copperpot, I think from memory dartfrog was also stating the same.
Well done.
$11.5m cash at the end of Sept. $14.5m spent in the previous quarter, which was down from $22m in the same quarter last year.
I could see no mention of DC's options being withdrawn...this sticks in the throat.
Quady
The posters you mention are gambling and want a quick win, the most rewarding route, but also the riskiest route, is to production if the mine is all it is cracked up to be.
No major is going to pay the silly inflated prices the likes of Seanhinter, Dbw etc are spouting.
A JV reduces the risk massively but the payout, judging on recent progress, will be a long time coming.
Those over leveraged gamblers redknight et al can’t wait that long……
Dare say seanhunter has now read the article and realised his hero Slug continues to be 100% wrong about Solgold and indeed everything in life.
Don't see the likes of Andywest and Jezzoo apologizing to me, as I won't hold my breath.
And the likes of Redknight and ColonelDrake have been shown to have been talking rubbish.
Feel free to apologize to me.
Addicknt I never said we would own 100%
I just said production was the most likely outcome.
And it looks like we are going to production.
I do admit that I didn't think we would get a JV and I am wrong on that if that's what Solgold now do.
But it looks like what ever way you look at this we are heading towards production.
Seanhunter try reading DBW's post it couldn't be clearer, we are going to production with a JV.
This is the article that was difficult to post a few days ago.
Q, which explains why it's ill-advised to believe 100% of what companies tell you.
I fear your prediction of 50% or less is some way off the mark. This is NOT what the CGP boys have signed-up for.
Where on earth has all this talk of JVs and going into production suddenly come from again?
The SP would be heading down to 5p not up to 20p if that was behind the recent movement.
Some of you have been Quadied.
Big news coming and it ain't about going into production.
Indeed, copper - I can't recall you saying we could do it alone.
Is it good news?
Yes addicknt I have been saying that because for ages that has been the company position.
The article is clear it doesn't say we are going to sell Cascabel or Solgold.
It clearly states we are going to bring it to production.
The updated PFS for Alpala will outline the costs.
I believe we will JV this for around 50% or less.
Morning addicknt, well I for one have always said that production is the most likely outcome.....I've also stated "with a J/V partner. Not once have I said that they will do it single handed my.
Good luck.
Bozi, you are quite correct - I cannot speak for everyone. Although I think it's fair to say the majority on here appear to share the same view. And yes, we are a little delirious...a bit like a prisoner who goes over the top on the day of his release.
Indeed, Q, which is why I asked him to drop the idea. Mind you, if we sell 85/90%, which is what will happen, and we end up with a decent divi, I'll be happy. Obviously, we'll have to find our share of the development costs, but GGP did it, so we may be able to as well.
However, what the article DOESN'T say is that we will raise all the money ourselves...with minimal dilution, and take this to production as 100% owners. For the life of me I can't recall who's been saying that for the past millennia.
This is the phrase in the article which wouldn't let me paste, but I can paste from DBW
"There is no more bluffing that we are going to build Cascabel [Mather previously told MJ that he aims for SolGold to become bigger than BHP]. We are going to maximise shareholder value by bringing in an appropriate partner to do it. We have wasted five years. Since 2017, our share count has increased 50% and our share price has fallen 50%," said Sangha.
It clearly states that we aim to build Alpala as a JV.
No selling it or the company.
This couldn't be any clearer.
In the article it clearly says we are going to production with a JV.
Many on here will just gloss over that as it doesn't fit with their world view.
Morning Lunchmoney, remember, open pit first!
Cascabel has slowed to let his little brother catch him up, and eventually win the race.............
................................to production.
Open pit will provide a nice stream of much needed cash!
As I said last week, CGP shareholders have several bites of the cherry here. They can go early or wait for production with their new Solg shares. Who will be our J/V partner be?
Solgold are happy, CGP are happy and the government are also happy!
That's my take on things, could be totally wrong .............let's wait and see.
Fishing time.
Wrong DBW, I tried to paste and copy but my PC wouldn't let me. I use it only for investment and astro physics.
I post on here by Android phone.
My PC is nailed down so uncertain which setting is affecting the link.
I might put my modest holding on a trade plan for 90 days tomorrow, buy at > 82p per share and you can have the lot.
Up 8.88% - lucky number for someone ;-)
CGP closed at 4.17
Lunchmoney,
SOLG are not going to end up with 10% or 20% as a minority partner and be skint. 80% of ENSA is going to be worth $2bln+ imho. Probably more. So let's say they end up with 20% but have $2bln in bank. Hand back $1bln to shareholders and retain the $1bln for development funding.
Anyway - nonsense scenario imho as CGP boys swapped their ENSA stake for SOLG shares and that means they now have their eggs all in one basket. That's risky.
One scenario post merger is that post the strategic review we find out the CGP boys have sold out their shares to Mitsui or another (with consent of Mather). They get their pay day and Misui gets a 20% stake in SOLG.
Can't see that myself as think Mitsui would only want exposure to ENSA like Franco and recently osisko.
Only a few ways the CGP can get their cash pay day and that's via selling SOLG shares or by getting a sizeable cash payment or divi after selling ENSA asset.
I don't think the CGP boys plan on being SOLG shareholders for very long at all!
Speak for yourself, Addicknt.
I certainly won't pop the corks for Mr Sangha's presence. He failed for years trying to flog CGP (despite supposedly being an uber credible mining banker) and now he wants to do the same with my company.
Delirium returning to the BB it would seem. Not good.
Lunchmoney,
I agree but what would happen if SOLG did announce a JV involving Mitsui? Usual clauses etc like needs approval at EGM blah blah blah. BHP have two choices... offer a better deal on better terms, or make a bid etc or walk away.
Like the royalty deals, there is always a clause in there that allows a future buyer like BHP to undo some of the commitments for a fee.
As logic goes... if we are all convinced that CGP/SOLG are likely to seek a sale via auction process or other means for Cascabel, then surely part of that game is to pull, push and tug BHP's chain. Ultimately, the game of cat and mouse is over. All SOLG have to do is draw BHP out and if BHP are not interested, then all good, other super majors will be.
It's pretty obvious now that SOLG have been 'waiting' for BHP to make a move now for 2 years+.
Now they have to force them to. And in that process we may well be looking at someone like Wyloo or Fortescue to go ding dong with BHP in the auction process. I bet Twiggy is gagging for that one!
Adding all the dots together, it's clear the game BHP have been playing.
Remember the open letter Twiggy penned last year, basically telling BHP to stop interfering in solg business and either pay up or shut up.
We now have the very unusual situation of them commenting on our latest deal after making lots of noise about the Franco one.
Obvious now that this is a company that wants our assets but clearly is playing dirty and does not what to pay for them.
Good job we have Bod and Warren on board. I think we should openly market the asset to other majors.