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hey bublé
was this what you were being cryptice about over the weekend?
https://www.lse.co.uk/rns/OMI/colombia-update-z5hovnbi6igb45h.html
up 42% today...........
summat to do with Minerva.......
r's
BN.c
You raise a very good point!
I'm looking forward to seeing the annual report and in particular the detail around the cash spend.
As we know from last years report, two equity raisings totalling US$78.8 million (Valuestone in November 2020 and institutional and private investors in April 2021) were done and the ENSA funding of $100m came via Franco deal.
So my question to Darryl, Mather and the BoD's as a whole is where exactly did the $78.8m go?? We know we have around $25m+ left in the bank but that's mainly down to Franco's $100m pile. So back to the burning question... the company raised $78.8m with the signalled purpose of delivering a robust exploration phase across many high impact targets. That's what the cash was for (along with usual working capital).
So what did we get for $78.8m? One hole on Rio? A few more holes on Porvenir and and and and?? I'm struggling to find the aggressive exploration plans that the company promised. Now, I don't mind if they want to stop exploration... and conserve cash... but that's based on conserving cash... and erm... I can't see any conserving going on. Not can I see any exploration going on.
So putting the major shareholders issues aside on funding, lets be blunt here... SOLG sold the market a curve ball and a fraud one at that. They raised $78m+ from investors on the basis of the need to 'explore' the folio. And I'm afraid they have delivered very little exploration at all. In fact, the company confirmed that no exploration was being done and that was as early as Jan/Feb of this year.
I'm beginning to think that it's not just the major shareholders that have issues over SOLG's equity raise promises...and rightfully so. The company says they are doing XYZ and they need $78m to do it. They then do almost zero... yet still seem to spend the $78m+.
I'm at a loss to where this cash has gone and it's on your watch Darryl... so looking forward to the Annual report.
And before anyone asks... I'm fully invested, no short term trading (apart from adding a large wedge at 18p recently) and still very bullish of this seeing the end game. But like all Account periods... comes accountability. And this one is going to need some explaining.
Nope ….. I can confirm that all retail interest in Solg has apparently disappeared for now so it’s a “ sit tight” job
Volume was similar yesterday prior to that late reported trade …. Let’s see if we get another in the next day or so.
They are updating the major shareholders register next week too
https://wp-solgold-2021.s3.eu-west-2.amazonaws.com/media/2022/07/2022.07.13-Key-Security-Information.pdf
Can anyone confirm if it was a buy or sell?
Yip, you guys are right. I just presumed it was a Buy. Sorry to confuse!
Would Level 2 be able to discern a sell from a buy? I do not have level 2 and depend on you guys for info on that score.
Add I agree in fact that’s why I said trade.
I do suspect it probably was a buy though could have taken days to fill with the current lack of liquidity
Eish, how do you know it was a buy? I'm not trying to put the mockers on it, but it was a late reported trade and I'm not sure when it was actually transacted and what the prevailing price at the time was.
Very interesting, DBW. It's real and it's there! Somebody has the confidence to buy Solgold at a bargain price, is confident of the immediate future and willing to splash out £500,000! Wow! Our time for some significant news must be close, imho!
GLA
Goodness gracious! I am shocked that my post was removed. Exactly why?
This is meant to be a Billboard where we share information and there was nothing sinister in sharing a reply pertaining to ALL private investors, surely. No inside info, imho!
Pretty quiet here
But a big 2.75m late reported yesterday
That’s a couple in the last few days
This was what Eish posted at 7.47am yesterday
Fawzi's reply yesterday:
I also wanted to let you know that your views and those of other private investors that have voiced their concerns are being shared internally.
At least they ARE listening and makes me hopeful there is something substantial happening behind the scenes to sort some of our concerns!
Nothing particularly contentious about that post which would have warranted its removal. Redknight has been posting Fawsi’s views for some time now although not recently
What's happening?,what did Eish post?
Extraordinary! There was no reason whatsoever to remove the thread.
Why on earth was it removed?
??
Now the thread will be removed because of you.
Have a nice day.
Let's hope for a strong bounce.
Good luck all.
At 30 June they held 5.52% including all 'instruments', which was an increase on
20 June when they held 5.31% of which 0.44% or 10220227 shares was stock lending...this would either be for shorter to cover their position or to help market makers balance their positions if they were short...
The comparatives for previous dates were:
1 Dec 2021 5% of which 0.39% (c8,951,095) stock lending
31 Aug 2021 5% of which 0.39% (9,007,168)
23 Aug 2021 5% of which 0.26% (c6,004,778)
18 Aug 2021 same
11 Aug below 5% in total, no details
3 Aug 2021 5.01% of which 0.53% (12,081,983)
etc
So although their stock lending only varies between 0.2^% and 0.53%, they are clearly quite active at the margins.
Their holding of 5.52% at 30 June 2022 was their highest for some time...
forget it . The BOD will only give something when shadow directors called BHP tell them to do so
A Mather led consortium? We know he’s always seen it as his baby…
I don’t particularly like him, but come on Nick.. do something to ruffle some feathers..
Stake taken by Assore Holdings or direct bid by Sumitomo would do nicely...
Fort, I certainly agree with your second paragraph. As far as the first is concerned, as you say...it's been two years and still nothing.
addicknt, equity raise for the regionals is not the only option. They have been in talks with interested parties and strategic partners for almost two years now so don't be surprised if you suddenly get a deal announced on grass root projects /farm outs and possibly some kind of partner deal with Solaris on Warintza drill (surrounding area/SOLG licence blocks etc).
We know SOLG can't continue to fund all these 60 concesssions / licences so they have to resolve this conundrum for the market and investors as all have been kept waiting for too long now. It's not just 'put up or shut up' aimed at BHP and NCM... it's fast emerging the same for SOLG's BoD's ahead the AGM... we've had plenty of 'talk and promises' but zero delivered. So they better have a market pleasing answer for the regionals soon or it's p45's time as relinquishment of blocks is just poor management and loss of shareholder value.