The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Morning addicknt, this is probably quite ordinary.
My only reason for saying this, is that if it was of material gain or loss, we would have an RNS by now.
Just my thoughts.
Bubble, as I said, I have a suspicious mind...nothing more than that. Mind you, they've known about the need for an EGM since some time in April, so whatever it is that they're working on is obviously complex and important.
Addicknt why do you think that?
still no announcement. I do hope they're not planning to pull the stunt of releasing a bad RNS at the close of business ahead of an extended Bank Holiday.
Off hand, I can't think what bad news there could be, but I have a suspicious mind.
Hi Shipright. I can't say I agree that I find the news unsurprising or remotely acceptable. This is a business that many on here like to champion the ESG credentials of; bribery, corruption and backhanders undermine the squeaky-clean approach we've attempted to take to date.
I'm surprised it was so little.
Bribery and backhanders are how business works. Not just in Ecuador but everywhere. The only thing that surprises me is that it came to light.
Quote from their chat forum:
"... @bDMinefinder is about to become an even wealthier man. ..."
CGP MD&A is out - it seems they need to fund raise, soonest?
They also recognise that they still have to contribute 15% towards build costs on completion of the DFS. Approximately $400m. They state they haven't built this into their calcualtions for the financial report just out, because the building of the mine isn't confirmed yet?
Maybe this might crop up in the EGM?
(Are we buying a bigger chunk of ENSA?)
Z
Bubbles
CGP doing nicely too
Wasn't the money 'lost' in accounting? IE: Someone was taking it over the 2017 to 2021 period?
Z
I don't think we are short by $4.6M in the bank, just that they didn't pay for what they thought they were getting - could be dodgy labour payments.
Nice trades after bell up over 4% on tsx
Lots of people on holiday. I say holiday if queuing at airports counts.
zoros, interesting thought about CGP, but they didn't ask our permission when they launched the ludicrous bid a couple of years ago, so I'm not sure they'd need to do so now.
On the other hand.....the SP is rising consistently these past few weeks, so something is brewing.
How's this for a fast ball, then: CGP have agreed to being bought out by Solg and the latter needs to raise cash to do this?
Fun and games.
Z
EGM's don't normally herald good news IMO. They are either discussing BoD changes and or asking for extra cash.
Before any of us heard of the misappropriation of funds recently, we were discussing how much of a financial runway they have. Some suggested we needed more money by end of the year, others - sooner.
Now that Solg is short(er) by $4,6 million (is it?) and they were looking shy by years end.......this EGM could well be a begging bowl!
Z
Thanks lunch
Short week so I guess we’ll know soon
LM, as you pointed out yesterday, the company already has plenty of scope to raise a significant amount of money without the need to ask shareholders again. Given that we don't have a DFS yet, it's also the case that we don't need more than the current authority allows.
I've reached the conclusion this is not about a fund raise.
It looks like every one of CD's posts have been removed. I guess he pushed his luck too far with the GGP boys.
Just out of interest ….. does anyone remember the last time an EGM was called here….. ?
CD has kindly alerted GGP holders to the threat of inflation supporting an increase in Capex costs by potentially a significant margin.
"Inflation issues, could NCM bump up the $73m Capex estimate to $100m?"
Would you care to enlighten SolG pi's how the same inflation risks might affect Solg and the Capex potential here? As a Solg SH I am interested in your assessment
As you only have the best intentions of the SH community at heart I am sure the pi's of every other junior mining stock going to production in the next 18 months would value your wisdom on the global inflation issues -or is it just GGP that deserve your special attention ?
GL to Solg SH's
MFU
Didn't some analysts/journals say probable bid in June 22 - EGM timelines, a coincidence - in grand scheme of things, not long to find out !
My bet is on a yummy spin off!
ATB
DBW yes huge demand for copper and only a few mines up and running going to be massive demand issues price if copper going to rocket imho and look who's got millions of tonnes of it and still proving it up!!!
Very interesting listen
https://www.bloomberg.com/news/articles/2022-05-30/why-copper-may-be-one-of-the-tightest-markets-the-world-has-ever-seen
The sp is unchanged and there is no volume. We might be terribly excited but the market isn’t. Probably because of so many false dawns.
Addinct I pick option B
All guesswork at the moment