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More worrying is money lending is getting tighter and tighter globally....
"Batten down the hatches!"
addicknt,
I agree. The BOD need to do better with the funding plan..... we are using sticking plasters to get from month to month.
Josephi, your last sentence highlights the crux the problem. Our demand for cash is never ending and everyone knows it. I don't believe we have a single institutional investor on the register, with the possible exception of Valuestone, who has any intention of being used as an eternal cashpoint machine.
That may be the case Smickster, and if so, what do those opinions say about SolGold?
We're sub £400m now, so maybe we should read into the inactivity?
Perhaps BHP are happy for this to drop further in the short term.... Mid to long-term it will be a different story . They ( BHP)clearly have the resources and know how to turn this around instantly.
We are temporarily screwed-vulnerable at the moment and the BOD have brought this on themselves due to lack of foresight.
Even if we do raise money in the short - term, we will need to repeat as this moves forward......
Bozi, as I said earlier, no one is going to buy in the market at the moment. Obviously a fund raise will happen shortly and it will be at a discount. Of course, the only question is; will the prevailing market price be at the current level, or will it be higher/lower? My guess is that any interested buyer is keeping their powder dry as they believe the issue price will be lower than it would be now if a placing happened tomorrow.
I want to buy more but won't do so until I've seen the details of the funding. Therefore, I'm betting it's going to be lower and I reckon many other private investors are doing the same thing - at least it looks that way from the paltry daily volumes we've been seeing lately.
Bit like catching a falling knife isn't it Bozi
Maybe they are waiting for a chance to top up via a raise.
Maybe they are happy with their exposure.
"This should be the time they are buying aggressively"
That's the worrying part, it's almost like they are all of the same mind IE hoping for a fire sale that starts so low that a bargain price will look like a result.
Why aren't BHP buying this up at 16p a share ? Every one they buy at this price means they don't have to buy one for 40, 50,60,70p a share.
Redknight1
To play devil's advocate, would you not be looking for some of the parties you have mentioned, particularly the likes of Norges, Blackrock and maybe even Tenstar, to start accruing on the open market at what we consider to be suppressed prices?
As PIs we top up when the price is at the bottom of that value valley Mather spoke of a few years ago. Should we not expect the same of those parties who want to be a part of the future of Cascabel and the company.
To use Norges as an example, they bought plenty in the 25-35 region based on their notifications to the company. Why wouldn't they load up at 16-20 if they think the story hasn't changed?
That's the question really. For a company who has what we have, where is the support from actual wealthy shareholders? The price has barely bounced at all in the last few weeks which suggests sellers have control, and all the parties you mention are just happy to sit on the hands.
This should be the time they are buying aggressively.
The world is in a mess because we haven't got a world leader worthy of the title.
PC has tied their hands for so long that it's weakness that has become the norm.
Instead of doing what has to done they look around for the area of most support and go with that.
The UK is leading the world in wrapping their citizens in cotton wool, shielding them from reality, giving them money to carry on as before. It's not sustainable and it will end in a much bigger problem than utilising kitchen sink economics, we need to live to our means not our aspirations. The govt effectively gave the green light to a nightmare future on Friday, we are going to see many more homeless people in the next 6-18 months, the money spent on maintaining people's lifestyles would have been better spent on the poorest. A friend of mine had a good idea, instead of giving home owners money whether they need it or not, they should send out the money in the form of vouchers to be spent with energy companies and supermarkets. that way it doesn't get spent on fags, booze and flights to Spain. I know it's not nearly that simple but just handing cash out is bonkers.
2 good posts RedKnight - I sincerely hope you are correct!
Addicknt - i hear you but believe me when i say that plenty of pens will meet paper in the Labour box come the next election. Time for hovering has gone.
I personally wouldn't like Mather back and you'll remember just how much i backed him. His modus operandi has to be DGR, bringing all their prospects to market. He's in a decent spot as a NED and i suspect those voting him out of that role this year will be attacking him personally, under the guise that he's still calling the shots. He's not IMO.
SolGold needs to move on and look forward, just like the tory government needs to from Johnson. If he gets anywhere back near the head of their party ever again it will show once more what an absolute shambles they are.
Addicknt need copper to build them Ubers lol!!:)
Some people think BHP is the only game in town, but...
NCM haven't sold
DGR haven't sold
Tenstar haven't sold
CGP haven't sold
Blackrock have increased
Norges have only arrived recently...they haven't sold...(buying 88 million shares)
Mather hasn't sold
So between that lot there is either continuing strong belief or desperation (hardly likely with Blackrock building back to 5.5% by adding 12 million shares...
Are any of these deluded or do they have continuing deep belief that they will make money and it is only a matter of time.
OK so there is a base for BHP to build a stake, but I can't see CGP, DGR, Tenstar and Mather selling them a bean...
And I'm strongly of the view that NCM would want at least 75p, so...
Anything still goes and as Noront showed...the first bidder isn't necessarily the last bidder, and even for a relative unknown, the SP can go from 23 to 110 (+378%) in a matter of weeks...
If Cascabel is one of the most important copper/gold prospects on the planet then SOLG is one of the most desirable girls on the dance floor...
Ditto
DBW, yes, I think he may. Had DC proved himself to be more effective I suspect the decision would have been more complicated - but he hasn't.
As it stands right this moment, NM is the OLNY board member I'll be voting for.
I have to agree Bozi
Addinct
Do you believe Nick would get more or less support from pi’s this time?
He’ll also ( as I understand it) have the support of CGP this time round …. Could be close
At the time I was in two minds about Mather, but when push came to shove I voted for his re-election. It was a bit like those moments at the ballot box in a General Election; people believe they're going to vote Labour, but as the pen hovers over the ballot paper they can't quite bring themselves to do it.
To my mind, and putting to one side Mather's rather unfortunate personal characteristics, he made two big mistakes; first, he brought BHP on-board and second, he started banging on about production. But one thing is undeniable, his interests are exactly the same as ours - unlike DC, who still hasn't put his hand in his pocket.
Patrol - you're absolutely right. I remember recent history and it isn't the version Fortissimo has rewritten.
Plenty on here were happy for a Mather to be turfed out of CEO because he wasn't pandering to BHP and selling the company to the first bidder.
Mather isn't on the board "because PIs wanted him there". He's on the board because he is directly and indirectly interested in c.16% of the company's stock, and is therefore representing himself and the entities he has office of.
But now, and only now, is Mather our last defender and protector.
It's funny how views can change.
The trouble is the taxi service they're using is Uber - in as much as they haven't got a clue where they're going. Mind you, that's where the comparison stops: Uber is cheap and invariably they're on-time.
Next one will be a bit more interesting imho :):)
I agree only thing surprising me at the moment is why none of the majors have made a move on us while were on our knees.
'crime acreage' should read 'prime'! Although I think the eco warriors will approve of the former!
gotta love predictive text.