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Morning Quady,
Yes I can see from the letter Berry St are upset from the method of funding which would probably see them miss out and nothing else.
I'm not sure where the speculation is coming from but I can guess why.
Add imo by putting the for sale sign up because a shareholder is unhappy would basically be putting it up for peanuts. Let the bhp make an offer and we see where it goes not because Berry St want to kick off....again pffff
Modest, as ever.
Addicknt we are not running out of money.
We are going to raise more.
That's the whole point.
As you know I have never held a top level job, never even been a manager.
But the skill I bring to this forum are my investing skills and my problem solving skills.
Read the letter from Berry Street capital and point out the parts that support what you are saying.
I have given people here a blow by blow account of what the letter says.
I have been factual and accurate.
Oh dear. RK has been of more value to this BB than either of you two goons. BBG, I can’t remember the last thing you called right with this share (have you ever predicted anything correctly, or just spent your time making absurd accusations of people being MMS?) and Z, you should know better given the company you keep over on GGP.
Redknight is one of a handful of posters on this BB of whom I know of their real name and career history.
Smickster, who said anything about selling for peanuts? We should start the process now before we either run out of money, thus putting our backs against the wall, or we sell once we've been diluted even further.
We currently have cash and our negotiating position is okay.
Q, re: Berry Street, you are wrong and I have no idea how you can reach your conclusion. You may be good at interpreting technical data - as you often remind us, but you are not so good when it comes to understanding top level corporate stuff.
Afraid not addickt but I would guess overpriced...who knows...?
Morning smickster on Berry Street capital, their is no indication that they are selling Solgold. In fact the letter says in the past they have increased their position.
It is upset that it hasn't been invited to take part in the latest fund raise. ( That's me reading between the lines ).
People on here are so desperate for a sale, that they are now blatantly making things up.
They should just relax and let the Solgold story play out.
This is a long term investment, it always was and still is.
Addicknt read the berry capital letter.
It says the opposite of what you are saying.
It is upset that the wider ownership of shareholders is not included in the fundraise.
Nothing has failed.
That is their point.
It's the way it's being proposed that they disagree with.
I'd totally disagree with your comment Add.
The door has always been open for a sale at a fair price for all, yet no approach has bee made.
What you are suggesting is we follow Berry St Into selling a tier 1( possibly 2) for peanuts and essentially hand it over to Bhp.
I'd rather go down fighting than give it up and I expect my board to do the same so progress with funding via streaming/royalty is the option for me.
Bhp you want it make an offer, simplz.
Gla
Q, in which case please explain Berry's letter.
I am not saying funding discussions are not ongoing, I'm saying an attempt at so doing failed and Berry's letter proves it. No company likes it to become known a funding attempt has failed and the RNS was an attempt to ameliorate the negative impact - it failed. We have never had anything similar and that on its own should tell you something.
Addicknt I am very good at reading between the lines, and as an ex technical analyst, I understand why as a problem solver you first identify the problem you are trying to solve and not the symptoms.
In your 05.41 post you ask RK why the fund raise failed.
Yet we have zero evidence that a fund raise has even taken place let about failed.
They are in discussion, the RNS clearly states that.
Try reading it.
We have an RNS laying out the direction of the company. You should know by now that RK, tries to stretch points to sound authorative.
Nothing has failed.
As ever Quady, you fail to apply any interpretation of what we are being told.
Why did they produce the RNS? They've never done it before and to say it's unusual is a gross understatement.
Why did Berry Street refer directly to it? They would undoubtedly know far more than you and I.
Why has the FT referred to it?
Why have two people, including someone who occupied a key role, left the company?
Come on Q, wake up and smell the coffee.
Okay addicknt your last comment is just silly.
Where in the RNS does it say we failed on funding.
If you read it, it says the complete opposite.
It says we are looking at options to take Cascabel to DFS including talking about an issue of shares.
It makes it clear that it is not our only option.
Where does it say we failed to raise funds.
Where does any official communication say we failed to raise funds.
Very true and becoming more likely by the day … the chances of BHP being the only game in town are zero
It most certainly is not a "non-story". The company was obliged to issue a highly unusual RNS, which was clearly done in order to calm nerves and deal with market rumours - which were obviously correct.
It is not me and most of the others on here (and Berry Street) who are guilty of confirmation bias.
Addicknt we have not failed to fund raise.
This is about one avenue of funding.
This is a non story.
People on here are just exaggerating this story to confirm their bias.
Let's wait for an official announcement.
It takes just one bid to start the process
schlem, that is the very real danger.
Our board has over-played its hand and has placed itself in a precarious situation, which could easily be exploited. The saving grace is that we have Norges and BR on the register, and I don't see Norges in particular, walking away from this.
The Berry Street letter was spot-on and if the board fail to take note we should join them in agitating for a sale.
RK, did your information source have any idea why the fund raise failed?
Someone's gonna nick SOLG for less than its true worth. Games afoot and it feels political
'Rumour in the market is that todays statement from SolGold was triggered by a failed capital raise. Where this leaves the company now I’ve no idea and one also wonders who is pulling the strings here.'
Natural Resources Editor, Financial Times
https://twitter.com/humenm
At one stage, a couple of years ago, SOLG alluded to it having up to a dozen or so drilling rigs available and to be employed drilling throughout their highly prospective permit areas. Now we are have no drilling occurring in outer areas, as we are conserving/running out of money. Tens of extra millions spent on preparing another PFS which didn't change all that much from the original known resources and of course didn't include newly confirmed prospective gold and copper resources from nearby areas. How much has been spent preparing that (x2)report...something like 70 million or so. Mather now declares that company or cascabel is now up for sale......what a f........g incompetent liar he is! Have a look at DGR and it's daughter companies that he, Moller and the rest of his cohorts, are senior directors of .....most have lost investors 90+ percent. So with no drilling for last year (to preserve money) how many drilling rigs does SOLG currently have left to use should they sell more shares etc to raise more money to drill holes?
BBG - It pains me to say - I agree with you on this one.
For gawd knows how long has RK been feeding us snippets garnered from his contact(s) within Solg, or that's what he's been telling us?
He persists that the info is kosher. I think it started with the best drill hole in the universe or other such b ollox a long while ago. He passes us tid bits and snippets from "schhhh, you know who" in the knowledge it can never be confirmed nor denied. Probably made up - yes?
Let's (for one minute) believe it. Let us also believe that over this same time frame, when RK posted that he was increasing his stake @ Solg - he actually did.
After all, he believes in Solg and the direction they are travelling in, like so many others here. He's done his research and has faith in its future. Why shouldn't he?
Very recently, some people have left Solg. The concensus amongst several on here is that they might have left because Solg have lost their way regarding their financial strategy and are struggling to find a financial partner from without. Some are even insinuating there may be an equity raise because all else has failed. All heresay of course?
And we all know what happens when the stock is diluted don't we?
If only we knew dilution was on the cards, we would probably liquidate our holding, wouldn't we?
On the other hand maybe RK really is Walter Mitty..............................
Z
After a mental day at work, didn't expect this to be down after a decent bounce yesterday. Still, the assets are amazing, the demand for what we have isn't going away and the cash is running out, so someone has to show their hand sooner or later. #eyeroll... just another day as a solg shareholder, just an expensive one... on paper. Sit tight all. ATB, C
Argh I see no worries time to watch my portfolio now gl with yours my friend
Monte argh I see no worries my friend same here got a decent portfolio so time to see how they get on this year gl with your investments