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Does she realise nobody is reading?! Silly cow
Typo last post.
The mystery company giving loan.
"MIGHT"* state
1984 …. Exactly right
The funding package ( I’m guessing off take ) could be 100’s of m’s ( a significant portion) and will no doubt be reversible in the event of an acceptable bid.
1984
Yes , in principle.. you might be correct.
And the terms of this mystery company.
State , get the licence and all the I's and T's dotted and crossed.
Then we will SIGNIFICANTLY fund the project.
Now the clues are in the RNS.
SOMEONE, is keen to get on board and a loan of US$10m and future investment to make it a SIGNIFICANT amount.
US$1.55bn is required ... I personally don't know how long a piece of string is . But I do know $10m isn't significant in the grand scale of things. Looks like we are pushing forward into initial production.
And this will certainly stir the pot today.
If the big boys ain't paying attention, they most certainly are now . Aimo Gl
Do successful companies take loans, or raise funds from investors? Just answer that question with either option, then start to understand why taking a loan is never a preferred route taken by good companies.
It's not about my opinion on what's best for financing. I just pointed out that Scott's non-dilutive claim was nonsense. The other day I thought you were slowly getting there, realizing that money doesn't come without giving something away.
If you're happy with today's admission of failure, good for you. I get the impression your investment strategy is based on blind hope rather than reality anyway, so it's little wonder the company can do no wrong.
Oh, and would someone tell slug that he's the one claiming to top up at these prices... God knows why. Some of us are safely out, bar a hedge.
My reading is that the ten mill is runway to get the final permits/agreements and exploitation licence rubber stamped
Flexible facility, might not need it all. It’s up to neboa and his silly servants to get their fingers out if they want this mine open and printing valuable dollars for him to spend
Now , I can't be the only one reason this?
PROPOSED...
PROJECTED to cover a SIGNIFICANT portion...
Now today's RNS . US$10m value doesn't even scratch the set up costs ,US $1.5bn
So who is this mysterious unnamed company, and is the US $10m just the first loan.
The question ⁉️
We need to be asking.. are we now fully funded in principle for going forward.
More news to follow imo.
"This proposed Financing ("Financing") is projected to cover a significant portion of the estimated initial capital development costs of the Project, highlighting its position as a Tier 1 asset and a premier investment opportunity."
Buy high sell low
#stackenomics
How else would the company raise money in a way which met with your approval? We needed working capital and we got it without your predicted massive dilution. Of course, if you know of other sources of finance I'm sure the company would welcome your advice. And whilst your at it, could you explain precisely why this arrangement is a car crash?
As for the long term project financing, none of us know how that's going to emerge, not even you.
As for investment in Ecuador I wasn't referring to today's news, but the previous deals struck by Rinehart and others.
We needed cash, we got it.
Lol
They are having a much better run than byronramperbaygold 🤣🤣🤣
God the negativity on here is unbelievable, they must be a bit of shorting going on. Desperate
sad people .
On a positive note Copper flying today ,Gold looking strong . :))
“I agree with Quady”
Enough said 🤪🤪🤪🤪🤪🤪🤪🤡🤡🤡🤡
Cashmygiro, my first post? I've been posting on here since 2013, when I first invested here. I agree with Quady, fwiw. Everything the company says, leads to us doing it ourselves.
Hi add. Thanks for your usual, authoritative reply...
The funding announced today was an absolute car crash, but worse than that it's not even medium term funding. It's a loan. A loan!! To kick the can down the road having not managed to secure substantive fundraising. Evidently the market suspected Scott would get this desperate, but I had higher hopes for him.
B) how do you think capex fundraising would work? Do you think a company is going to give Solg the cash to build a mine without wanting a share of what you own in exchange? This isn't a charity so you as a share holder are going to have to give something up to get the cash. That's the reality, and that's dilution.
C) loaning money to a London based company is hardly a ringing endorsement of Ecuador and it's foreign/domestic policy. Let's see if Chris/Scott are for real about a backer in the next few weeks. How long will it need to take before you admit this loan is bad and that you can't get owt for nowt?
I'm not surprised by the SP reaction today. The undisclosed short term loan or facility could be from Mrs Mather for all we know. Hopefully it is from major potential investor. We cannot lose sight of the fact that SG has unknown cash at bank, possibly next to nil, so a £10m breather is not that reassuring, is it? We do not really know what the monthly burn is either, I have asked but they declined to answer. Hopefully more news imminent, I hope it's good.
Talking of predictions and statements that haven't exactly come to pass, who said a) this funding round would be a 'car crash' and cause massive dilution b) the sale of existing issued shares would cause dilution c) no one would invest in Ecuador as blood is flowing on the streets? Point c lasted for precisely 24 hours.
Whoever it was isn't really having a good run, is he?
Twat alert
Remember how the last offtake was going to kick majors into a bid? I can nip back and find the quotes where you brainless rampers repeatedly claimed that if you like? Or how jiangxi buying shares meant we only had months to run. If memory serves that was slug/red/fort (though no doubt novice will have been jumping up and down saying numbers in a squeaky voice).
How has the market reacted to today's news? Are we flying? Or are we the same price as 6 months ago? Down 50% in a year?
Beware the desperate scuba divers telling you everything is good and it's just about to pop. They've been saying the same sh** for years, and they've topped up millions at higher prices since. This has a very long way still to run, and today's RNS was a signpost to anyone who can read this company that we're currently a bit f***ed.
Well done to those who got out whilst they could. Better buying opportunities to come. 👍
I would have expected the market to say more than “meh” following the funding improvement! Still we wait for our pay day.
1. Scott Caldwell to put on a frock and walk from Alpala to Quito shouting "who wants some of this?" every 500m?
2. Nick Mather to buy a round for all long term SOLG holders?
3. Anyone else care to suggest others?
Copper going mental
I see Anglo have delivered their reposte to BHP. It might work... but I think BHP will have one last pop before May 22nd deadline. If they fail, then they might set sights on SOLG pretty sharpish as no doubt Tier1 mines do wonders for production hungry super majors.
I would agree normally BBG...I bought ATYM 1 year pre production at 80p and they're now 450 but...
Scott has made absolutely clear that we are not mine builders...
The purpose of the offtake agreement is:
1 Keep Noboa happy
2 Put an imputed value on Cascabel
3 Kick the bidders into bidding
Jiangxi is out backstop but who else will bid....who will start...and how far will Jiangxi go to get the prize?
If BHP lose out on Anglo surely they are serious contenders because the Anglo bid looks like an attempt to challenge the Chinese on controlling copper
Newmont could have walked away from SOLG as they did with GGP after the Newcrest T/O but they didn't
So Jiangxi won't get this without a fight...especially if they are not the successful 'offtaker'...
GDX and GDXJ both hit new 2 year highs...COPX a new 13 year high (i.e. the last metals bull market...)
Too cheap red.
Lets get our project financed, and then in 12-18 months i'll consider accepting 300p
Funny thing is, I am Australian and its a word my parents and friends used to describe a delicious moment.
Maybe the truth is that you're cheap labour from the subcontinent