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SH, for once you make a reasonable point. It's an assumption on my behalf based upon past performance and the bullish tone of yesterday's RNS.
3 weeks ago
“ we will be 120p in 120 days” 🤡🤣
Today
“We are worth multiples of 55p” 🤡🤡🤣
Not sure which is the winner but it has to be the 2nd highlighted comedy post……..
Red, it would be nice to see the ESIA works illustrated as completed in the imminent MD&A
Only in your fantasy world…..
Those flights at the pointy end get further away every day…..🤣🤣🤣🤣🤣
I seriously doubt you’ll ever enjoy a private chef and taking showers on flights……never mind you can. It only dream……🤡
"Given that we could have avoided this by raising more funds, what does this tell us?"
How do you know we could have raised more funds, Add? Was that in the RNS or are you speculating?
Redknight, why would they sell 150m shares at 20p, when:
1. they will soon announce a significant finance package shortly which will put a rocket under the SP (rerate to say 60p). and or;
2. wait for a bid to arrive post announcement re finance package, and sell the 150m when we are multiples of 60p?
Next steps:
Conclude ESIA
Execute IPA
Announce funding package
Rerate SP
Develop cascabel and or receive takeover bid/s
Rerate SP again
Redknight, why do you continue to refer that the facility is in place to cover us til y/e.
It wouldn't cover our costs till August.
I would say the $10m facility would be to douse any doubt or queries regarding the cash we hold presently which is about to be revealed in the MD&A (it is usually circulated on the 15th day of each quarter - surprised its not out today).
My guess is that they were hoping to have all permits and IPA signed off by now which would allow them to announce finance, yet they haven't concluded the CP's, and so a little debt facility is required to see out next 6 weeks The announcement was also used to nudge any current strategic shareholder (BHP and Newmont), that we are very advanced re financing (there is no way in hell they have been invited to support the next package, hence they would be thinking, do we move or miss out).
RK, I said 'As it stands'. The rest of your post is speculation.
Oh dear...you can only sell for ÂŁ1.55 if somebody pays ÂŁ1.55...unlikely but...
If it happens several of us will make millions...
Addickt...IF we reach the Y/E without any takeover bids, there will be a substantial offtake agreement in place...
The Loan Facility won't need to be drawn because the SP will be very much higher and we will have been able to sell the CGP shares for at least 20p...
Based on the 31 Dec figures, monthly operational cash burn will surely be no more than $1m (they only have SIX core personnel), so...
Even ÂŁ31 million (155 x 20p) gives us almost $40 million....enough to last 3 years...no qualification...etc etc...
Some of us bought in at 32p and not 2.5p so ÂŁ1.55 and we will sell but not 55p. Hence prove up more tier 1s by drilling more holes.
We are worth multiples of 55p
Why would we do more drilling...
Porvenir alone is worth $195 million based on 1% of the $19.5 billion of metal in the ground...
https://www.lse.co.uk/rns/SOLG/porvenir-project-update-qtdtf12d0ju6qgt.html
And we know a lot about Blanca Nieves, Rio Amarillo, etc...
We are SELLING Solgold, so why do we need more drilling of regional projects when on a 1% basis, Cascabel alone is worth...
OVER $2 Billion, i.e. 55p/share...
Ask Bob and his cronies
"...,Mr Henry said the company had plenty of growth options in its own portfolio if Anglo’s board did not engage with BHP."
https://www.theaustralian.com.au/business/mining-energy/bhp-ceo-throws-down-gauntlet-to-anglo-shareholders/news-story/e5c1aafd6d5bedfaf8c03acfd7818add
Why is reaching 10p (and beyond) such a barrier, guys? What does L2 reveal? Can anybody with access inform us again, please? We've got finance (for now) a deal with possible signing of permits as an exchange seems likely. Heaven forbid we "build the mine ourselves" if the deal(s) behind closed doors falls through. Prices of gold, silver and copper are at all times high. Why is there this scepticism/pessimism as regards smaller miners and explorers? Really difficult to comprehend.
As it stands, we'll reach the y/e without sufficient working capital for the next 12 months, and as such the accounts will have a qualification, which no company likes. Given that we could have avoided this by raising more funds, what does this tell us?
In my view it says the Board is very confident there will be a post-balance sheet event within a couple of months of the y/e which will be recorded in the accounts. We will still have the qualification, but any concern will be allayed by the new funding.
Very entertaining to read and laugh at the comments since yesterdays RNS with posters thinking they can affect the stock by starting threads with negative headers or simply stating that the board will be basically breaking the law with the funds released etc etc 🤣🤣🤣 you really could not make it up and hopefully will continue to entertain us here.
55p Someday Soon !!!
New all time high for copper...
Now bring on the offtake funding...
Brilliant!
Morning grumpy,.
I know you don't mean that.
The sun is shining, and I know you listen , and take hope 🙏🏻 from my posts.
I settle the lambs , when the wolves are closing.
You are even quoting from my thread yesterday.
For the record, I think you are decent Eloro.
Have a nice day grumps. CMG
A better headline
It doesn't take genius to see the signs here re the small tiding over funding announced yesterday when we know at least $1.5B is required to do anything meaningful. Hence, when all the possibilities have been discarded, whatever remains, however improbable, must be the answer! Small starter/tiding over sum while the chef(Bob) is preparing the main course in the kitchen! For the record, I think you are a pratt Giro!!
Oh the irony of red rampy’s post…….
For someone allegedly so successful in trading , notwithstanding having to t trade as he has no funds, he doesn’t seem very comfortable currently………
The poor old gang of 3 rampers BBG, RK1, DBW haven’t had much success over the last 3 years…..
No wonder they are trying to control the narrative on here to dig themselves out of the đź’©