Firering Strategic Minerals: From explorer to producer. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It's the nature of that funding that is going to deter new investors like me.
Non-dilutive? I've heard this before!
What's more important is that they've got the backing of the bankers (BMO etal) and the markets will take note of this and their return to Ecuador in a material way
Addicknt, agreed... certainly getting there and about bl0000dy time!
Looking forward to the next wave of news reports... and personally intrigued (still) by the valuestone non exec appointment.
BHP beginning to feel the heat... and that's good work by Bob and co.
twigger bought 750k at 9.9p back in october and scott bought more too. both thought 9p levels were bottom. i think they based that on the assumption that £270m market cap is the bottom end. the drop to £168m market cap (5.6p) was astonishing.
if you go back to the covid world was ending days of 2022, the sp dropped to test 10p based on 2.2bln shares in issue so about £220m market cap on 85% of ensa. we have 100% ensa now of course.
so the fall to 5.6p was apparently far more doomsday driven than covid which by the way saw the dow jones fall from 30k levels down to 19k levels. it's now at near 40k level. so everything bounced back post covid.... accept for inflation hurting stocks like miners and others.
with us elections in 2024 (nov) it's very rare for markets to have a bad year as they want happy clapping voters... just shows the level of manipulation at political level.
bottom line... solg should be recovering from here on based on market metrics and not news. so combined with some meaningful news is the perfect ****tail we need to bounce back to late teens or ealry 20's pre bid / counter bid stage ... we hope.
Fort, couldn't agree more, the past is the past and I suspect we can both agree that things are moving in the right direction. Ultimately, you and I want the same thing and it's my belief SC is taking us towards that goal.
I think once we get the cash monkey off our backs this will re-rate substantially. Yesterday/today's news is the tacit government support we have all desperately been waiting for since Naboa took over. I feel a lot more comfortable following the show of unity between SOLG and Ecuador at PDAC.
It's now a case of securing some short term funding to give us a little more runway to get a deal done or, better still, selling the project off to an actual miner!
Buyers Remorse...of course...
Addicknt,
Who know's? Hindsight is a wonderful thing. No point in making guesses on what could have been. Just deal in facts and reality. We are where we are for a reason... because this management team have allowed it.
We are too far downstream now to be turning back... so just a case of strapping yourself in and enjoy the ride. Plenty have jumped off long ago as the ride was making them sick.
If Bob and Scott ran a fairground ride, they'd be giving away paper bags with every ticket.
Lets move on... see how it goes and blow smoke up each others derrieres when we pass 50p. Anything less and it will be a failure of epic proportions.
Some investors have been here for over 10 years!
It seems ironic to me that, despite the disconnect between the major holders and insiders not selling any shares, private investors have seemed to be fairly reluctant to buy, allowing the Autobots to dominate...
Private investors own 23% of the shares according to Simply Wall Street (i.e. excluding 'insiders like Mather and Sangha).
Clearly we had an impact in keeping Nick in his NED role, so in the absence of further buying by largere investors, we hold the key...
Mind you Director Buying might materially change that...
However, despite the foregoing today is a better day.
PS I learned many years ago that in general, private investors buy near the top and sell near the bottom...FOMO and 'Nuyers' Remorse'
So don't get left out because theres planty of good news coming down the track and how long can the 'interested parties' continue to play this gigantic game of 'chicken'...
'In collaboration with the banking giant BMO, a meeting was held with investment banks interested in Ecuador.'
https://www.bnamericas.com/en/news/ecuador-signs-historic-agreements-for-more-than-us48-billion-within-the-framework-of-pdac-2024
Price popped
Fort, to answer your question about options, if he delivers what we want then I won't begrudge them at all.
So tell me, do you not see how things are evolving and the direction we're travelling in? To repeat, if you'd had your way I reckon we'd have been finished by now. The government would have realised we were a joke company and wouldn't have othered with us. So sorry, I think you're barking up the wrong tree.
Now, 75k
price perked up a tad
been reading the board for years now and the news today should underpin market confidence. I wouldn't mind a placing to see it through to monetisation
thanks all and gl
Addicknt,
The god awlful mess you refer to (I can't see it myself) was valued by the market at 22p+. It's this god awful poor attempt by this management team to try and take that apparent 22p+ mess and turn it inot a 5.6p mess as of Monday this week.
Launching an SR almost 18 months ago and then not delivering an outcome is nothing more than sending the market 'we're in a mess messages'. Running the cash pile down to sub $8m as of now puts us in a mess. Moth balling the company / exploration plans for 18 months... puts the biz in a mess in terms of appeal to new investors.
The list goes on.
So I don't buy this... apparent 'turn-around' story at all. We are in a bigger mess now 6p than we were when we were 22p.
The mess started when the keys got handed over to the CGP boys ... end of.
Whether we come out of that mess in a better shape... who knows??? But to suggest Scott has turned things around is utter tosh.
He's delivered very little while burning through $85m in cash! That's factual.
The PFS was welcome but lets face it ... could have been sorted in 4 months based on shifting some metal pricing about. Not 14 months! The Ecuador agreements are a long time coming and should have been sorted under Lasso's presidency but instead we acted slowly and resulted in us having to undergo a stressful election campaign period and then dleays while Noboa got his feet under the table.
Here's a question for you. Do you think Scott has earned those 17m share options and do you think he deserves more awards in the upcoming remuneration (self appointed) nest feathering meeting?
$13.8 million net cash at 31 December with a monthly cash burn of $1-2 million...
"Non dilutive" funding imminent will put all cash worries on back burner for at least 2 years...
Eloro, life would be so much easier if CEOs could control the share price of their companies, but they can't.
SC inherited a godawful mess and has spent the past year sorting things out, evolving a plan and then starting to deliver it. If you'd had your way, we'd probably still be without a CEO and the game would be over.
You were wrong and events are confirming the fact.
Decent volume again with 12.5m traded in first 2 hours or so.
The ISA (30 day rule brigade) will be pondering the dicing risks with selling out and hoping to buy back April 6th.
Based on news flow... a risky play this year for sake of tax benefit although the latter could be considerable if as we all hope... sp goes into cartwheel mode back to 40's and 50's.
NMM, you are correct, SOLG run from june to june for some god unknown reason! Do TSX rules require them to ensure/prove 6 months cash on forward work programme basis? Hence, when's the next MD&A? 15th May looks latest for 3rd Q/ MD&A but as we all know... fiance from some form needed well before then.
Add, I will say that Scott is doing a great job when the SP is back to where it was when he took over. I can't bring myself to praise the man who overseen the decimation of the SP. I want to have the option to at least get my money back.
I will say however that things have started to move in the right direction.
Regional news = sale of porvenir + update re anything of substance covering exploration
JWB, only a week os so ago you were on here trashing the share and telling us we're all idiots. Now you pop up ramping some other share on this and multiple other boards. Do you mind if I ignore you?
The following will arrive before end of March 2024:
- Alpala technical report
- Regional news
- Exploitation agreement
- Funding
The Chinese would have a hard-on seeing Scott sitting next to Noboa yesterday. They also have unlimited amounts of cash at their disposal - would they pay £3B to acquire Solgold? YESSSSSSSSSSSSSS
A group (or several) has provided a conditional commitment to Solgold for the $3,2B funding. Jiangxi friendly arrived on our Board 10 days ago.
We have two months cash to cover admin costs so news re project financing is imminent - my guess is that SP will hit 12p tomorrow and 20p by next Wednesday.
Fort, re: "2. Full year results accounts sign off before March 31st "
I've flagged before - SOLG reporting year is June to June.
The end-Dec results were included in the Interim report/MD&A in mid-Feb. No audit sign-off.
Only the full year - June to June - results are audited. These are released towards end of Sep each year...
... usually in an RNS titled "Audited Full Year Results"
Exactly, Fort. Noboa signed only after having seen evidence of the plan unfolding and after having received precise reassurances on the funding. He can't afford to mess this up, his country can't afford it. And certainly the chinese or whoever is behind the scenes won't let this opportunity slip away. Shame they started to put the ducks in line with the SP at 6p and not at 20p or more..