Firering Strategic Minerals: From explorer to producer. Watch the video here.
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To repeat
They have to spend another $155m on Cascabel alone by end 2023.
redknight1, I'd have to check back but think the lowest the cash pile has been pre raise was $10m about 18months ago.
It's no revelation that SOLG need cash to deliver DFS but question is do they have enough to deliver PFS2 and Porvenir PEA? Probably not but it wouldn't take more than a smallish $25m raise to see them through to year end and you never know, if they do add in an extra $1bln to Alpala then perhaps do a larger DFS raise after that?? Would make sense as markets likely bouncing after Inflation hit peak levels in November and Fed et al start looking to cut rates into 2023 to starve off recession.
The key point that should be acknowledged is that ENSA funding is always ring fenced with a portion toward general Admin staff costs. Valuestone invested $5m into Porvenir (ring fenced) last time and I imagine if they were asked to do so again would be happy assuming it's sub 32p which is their last price level.
We don't know the facts around the rumours on a failed funding round but there are numerous ways to look at it. SOLG may have tried to do the lot in one go... through to DFS and suspect BHP and NCM not happy with something so it got shelved. They could try again with a smaller amount which would be hard to turn down and even at low 20's would be minimal on dilution which would please many but not BHP and NCM. I reckon they might go for small raise and see them through to PFS2 and then larger raise with share price into the mid 30's based on adding another $1bln to ENSA.
Red,
Construction / production has not been put back twice under Cuzzubbo's watch.
The presentations are just becoming more detailed as they go through the studies.
Junes presentation detailed just: Early works & Construction / August presentation has spilt it down to a further category: Early works / construction / production) - you will see on both that the intention is to start Production Q4 '29, with construction starting Q4 '24 - no change but just more detailed.
Please stick to the facts matey.
Yep was end of June - went through the RNS's
So end of March had 38m end of June 28m means at current run rate slightly over 8 months before out of cash.
The key word... Testing
Rk. Don't you mean vnow lookv
Listen...Darryl's been there five minutes. He's certainly stamping himself on the company strategy but what has he actually achieved in 8 months?
No cash raise and Construction/production already pushed back twice!
I don't care what he says.
The $26 million was at the end of June 5 weeks ago.
They tried a cash raise and failed miserably. That is why they had to issue two 'cleansing statements'.
In case you don't understand what those are, they are needed in order to release investors/potential investors to deal in the shares again after they were precluded by signing up for what turned out to be a failed equity raise.
And maybe Darryl's talking his book.
The strategy makes a lot of sense to focus on two major projects but especially if cash is being managed we no longer get the flow of sexy drilling results.
So with the copper price depressed, Cascabel pushed back to 2029, Rio a duster, no news for 18 months on small projects J/V's, what is there to go for except a passionate e belief that there will be a takeover battle no later than late December...?
In the mining news article the CEO says they have 26m in the bank. He also says the company tested the market.
Red.
Maybe the company knows more than you!.
And sure the feelers are out, testing the waters.
Always best to have a plan A,B,C....
BTW I'm prepared to be wrong but I don't remember the cash balance being lower than $26m before...
No he didn't.
Hi Red, re ‘Absolute rubbish. A new bank tried an equity raise. It failed. The new bank was sacked.’ Who managed/instigated this foray, was it Ingo Hofmaier?
Quady: "A bid was never part of Solgold's strategy"
In direct contradiction to what SOLG's former CEO said but a fortnight ago. You've seen the clip yourself, yet you still spout your own world view. Why?
"CEO Darryl Cuzzubo confirmed the company tested the market."
Absolute rubbish. A new bank tried an equity raise. It failed. The new bank was sacked.
Why do any of them think we will swallow this rubbish.
And BTW they DO need a cash raise...I expect they're gambling the market will recover...it won't quick enough...
Gold's doing well... copper $3.47...
Only two years ago we were back up to 23p (having been 11p in March)....visited 40P + since on a couple of ocasions....will do again...either soon on buyout (hope not at 40p).....or in 2years when coming out of recession.....and then upwards on steroids I hope and expect! GLA
Come on Sean, spirit of the Dambusters, yeah... the squadron never dies.
Hey Sean, relax. This WILL come good. We have come a jolly long way and Mather & Co plus DGR will not lose money. The opposite, they will make a buck or two and so will we all. Wether we bought at 30p or above, it will happen! Just a little faith as the piggies clamour to line-up in a row! GLA!
As the little wheels turn furiously, the bigger wheels move slowly....
Patience, is all what's required here.
Unless you are wanting to do daily trades ..
Sean people make choices if certain investors jumped in on your posts then not your problem buddy, never forget you haven’t lost any money until you sell at less than you by simples there’s a few on here that will tell you that… even 50p will show a good return on the 35 to 40p brigade stop being so pessimistic and woe is me this will eventually go to the highest bidder at least double the current price… simples
You did nothing wrong Sean, you just followed what you believed was right at the time. I know we had our differences earlier but as the saying goes "the cream always rises to the top"
Keep your head up it might come good you just never know with these things.
My contact also predicted this reply from Kohaku01!
Can we stop with my contacts
Not one members so called contacts has ever been right
Respect for your honesty Sean..