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I don't do gas and oil Bubble but have a look at DEC as well. A tight business model and what looks like a solid 9.6% yield.
A bit like ATYM really...and if Quady gets his way SOLG one day also...about 10 years hence...
rk think you are correct here. Posting my response from previously...................The statement of SG clearly states that SG "has had discussion with its major shareholders regarding possible financing structures and options to obtain funding [......], including a potential equity raise". That reads like corporate language for "failed equity raise".
Thats a fair argument.
BSC is not my source, I'm only going on the statements in their letter which confirms what my sources told me.
Red,into deltic and zephyr for gas and oil UK and USA demand aswell gl
I agree, but its BSC that you say are aware of a failed fundraise.
Could it have been an opportunistic approach by one new organisation that SOLG rejected?
If so, not exactly a failed fundraise.
Just a thought.
13 month SUPPORT...sorry...
Meanwhile looks like JPM may be starting to close their gold and silver shorts...
For the benefit of many friends on here I sincerely hope SOLG holds its 13 month short at the close today.
Some might think that puzzling but as I said I've loaded ups with GPM and ATYM instead...gold and silver flying...copper recovering...
Asimo I doubt that SOLG would have described a 'failed' fundraise.
The attempt was made by a new source. It failed. The new source walked away. I believe existing advisors and maybe even investors insisted that SOLG clear the decks with this mornings RNS...
Very good Fort...thank you for what you make clear are your opinions...I will watch with interest to see what happens.
In the meantime, please name the 'BHP stooges' you have come across on here in your 7 weeks of being a member...
You may be right Fortissimo about the AGM resolutions, I can't remember, but if that was so, why are BSC publicly complaining about being excluded from the attempted fund raise...?
Fortissimo, olease state your source for these 'facts that you state:
"there was no failed fundraiser"
" And it wasn't this week."...that rather contradicts the first statement...
"I know for a fact that BHP and NCM want a greater slice via equity so can tell you now that they would not have passed it up."......How do you know and if there was no attempted fundraise how could they pass it up. Berry Street Capital are hinting that they were offered it...
"the likes of Boliden and Franco are known to be interested too."
Speculation...and that isn't an equity fund raise...did you see the earlier comments about how much the Franco deal is already costing us...and a streaming deal would seriously pee off BHP...
Meanwhile, I'm not decamping, I'm staying put and seeking to pass on the 'facts' that I get without breaking confidences...
I'm sorry you resent my involvement here. My investment decisions are my own responsibility and as I've said more than once today I would be delighted to be wrong after all these years...
"
RK1.
Do you know the latest attempt to fundraise is not still going on?
If it had failed, surely they would have said last attempt to fundraise.
Mooen made 52 off 18 balls...hope you see something similar and can celebrate with a bottle of red...
Fortissimo. I am quoting fact. And I have had it endorsed from other sources.
And I am also in direct contact with the person you name, who is giving nothing away
You've been here five minutes and you know everything. Unless you are Darryl or Nick you are posting opinion dressed up as fact.
Lets not argue.
To repeat...even BSC endorse what I have stated:
"In our view, the Company’s latest attempt to fund raise unfortunately only demonstrates the Management and the Board’s lack of understanding of 1) their shareholder base and 2) the basic mechanics of capital markets."
"the Company’s latest attempt to fund raise..."
Now how does that square with your assertion "there was no failed fundraiser..."
You're not Quady under another pseudonym are you...?
I don't see how Woody...
What is there in the RNS to prompt a response from BSC?
"In addition to the cash position of approximately US$26m as at 30 June 2022, SolGold continues to consider, and has had discussions with its major shareholders regarding possible financing structures and options to obtain funding to further progress the Cascabel development, including a potential equity raise."
On the other hand, BSC's letter was a few hours after the SOLG RNS as far as I can see...
The failed fundraise is common knowledge in the City. Connections will have alerted BSC and once again they have felt their nose pushed out of joint.
But I remain convinced that BSC are seeking to trigger a bid, to which there would be an immediate response and then possibly a bidding war a la Noront.
SOLG have a lot of digging to get out of this mess, unless DC's Machiavellian plan was for this to happen all along...options...massive performance package...high office in BHP as a reward...
I do Lunch...a City contact through LinkedIn...
Gut feeling this is going to bounce after shake out
well here's my take
1. BHP and NCM got together in May to discuss their plan on low balling SOLG.
2. The big two entertained an equity raise at much higher price than today hence why the sp was looking solid at 30p levels
3. Then the big two decided to change their minds, knowing that this disruption would make SOLG look weak.
4. Next move will be an offer.... just wait and see.
All pre-planned imho and SOLH and darryl may have walked into it thinking he was pleasing majority when in fact underhand tactics are in play. Just a hunch but there's no way Norges would have been buying aggressively and Blackrock if both knew a cheap equity raise was coming. I think NCM and BHP are playing games and SOLG should just go down the Boliden or Franco route and xxxk em. Let them out with counter offers and we'll take it from there. Bring it on. Barrick are waiting patiently from what I hear. So chew on that you BHP stooges. You know who you are.
The statement of SG clearly states that SG "has had discussion with its major shareholders regarding possible financing structures and options to obtain funding [......], including a potential equity raise". That reads like corporate language for "failed equity raise".
I believe the AGM resolutions made sure that all shareholders had to be represented or allowed to participate. All about shareholder rights. So BHP and NCM could not be excluded.
I doubt any would survive
It's been a fascinating day with some great insight from folk on here, but where does this leave us? Looking pretty stupid is my view.
This company has a long history of mis-steps and my hope that DC would move us away from that was clearly too optimistic.
How is it that virtually all of us small shareholders, market analysts and pundits, plus several of our more significant shareholders, can see the way forward with piercing clarity and yet the board appears intent on ignoring the bleedin' obvious.
If this carries on until the agm I think this board will need to consider dusting down their cvs.
Redknight,
For the last time... there was no failed fundraiser. And it wasn't this week. The new lady is working on something and there are a number of options available. It's not about just doing a placing to the market. There's more to it than that. I know for a fact that BHP and NCM want a greater slice via equity so can tell you now that they would not have passed it up. They would bite the hand off.
Trouble is... the likes of Boliden and Franco are known to be interested too.
Looking forward to when you buy your shares back as hopefully this decamping and negativity nonsense will end.
Yep amazing
Opposition 89 all out where I am , might even be able to squeeze in an unexpected pint or two on the way home
RK, thanks. That would make sense and explains a great deal. Pretty damn hopeless and you'd have thought the company would have learnt its lesson.