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.
This was on 24th October 23
We have had control for ~8 months and no one could have turned this around like we did.
The company was heading straight for insolvency a year ago.
If others have a better strategy they should take control and do whatever they like.
No one cares if someone is a long term or short term shareholder. Everyone is trying to make a return and some are going to be successful and others may not.
Bob
He's right about nobody turning the company round like he did
so, we all knew they were going to need cash so surprises today tbh. getting to this level of cash left with current burn was always going to be received badly - so makes sense to get this out before releasing news that the co. hopes will be received well like the updates pfs.... so this should follow soon.
options for finance;
1. equity raise. not happening i'm imho.
2. sell banked shares as we know there has been interest. certainly not at these levels.
3. royalty deal. potentially, but risks ******* off a suitor just at the wrong time.
4. assets sale. porvenir? before we sell cascabel makes sense to flog this if there is any sniff of interest before as would help set a benchmark.
anyway, we're all at the sharp end of this now and management really do need to step up. c
Shipright. Do you seriously believe people believe he would email you a tiny retail share holder and tell you the company was heading for insolvency.
That's ridiculous enough to rank with adikt neighbour and ceo friends and copperpots mystery banker.
Not to mention that clown bbg, and his stories.
Talking of clowns, I see we're all queing up to top up on the drop.
Bloody laughable
Slight change in Going Concern statement:
end-Sep: "the Directors expect that future funding will likely be provided by equity investors, debt funding or via other strategic arrangements."
end-Dec: "the Directors expect that future funding will likely be provided by equity investors or via other strategic arrangements."
No surprise at change. And 'strategic' can include Royalty deals etc.
At this price they should do a royalty sale and a share buyback.
We needs more fun tweets too.
Adikt. That's not like you. The whole board to a man showing concern.
And low and behold you manage to pluck a snippet of positive news, I might add, without a scrap of evidence to back it up.
Also not like you.
That's a great idea Jerry but all royalty deals are ring fenced to ENSA so a non starter.
Nice thought though.
Can directors buy again now this is released?
No because the PFS is imminent
Afraid I'm not with you on that one, Jerry. The company needs to keep hold of as much working capital as possible.
Some look at Royalty deals as the easy option.
But look at the position Scott has allowed the company to get to: a $50m deal reflects c25% of MCap!
Appears Plan Z of 'crash the SP to encourage a bid' is in full swing.
MassiveRay.... you say you’ve never stayed married to this share. Sadly I have. I’ve been seeking a divorce for a long time now, but sadly it’ll cost me to much. Therefore we are still living together but can’t stand the sight of each other.
Thanks RK, makes sense to get that out in short succession then.
If we had listened to Solgold over the last 18 months, you would all realise that we are preparing PFS3, and at the same time undertaking a strategic review in order to advance Cascabel.
Solgold have been very clear on this.
Nothing has been said about a sale.
So how about this for an idea.
We are doing just that.
The problem we have is how to advance Cascabel.
Well I believe if the PFS comes in at around 1.2-1.5 billion dollars for an open cut mine, progressing to a block cave operation.
Then we do just that.
We finance it with a partner.
We raise the money and we use a civil engineering company to build it.
The mine design I believe already exists as a LLD so the engineering guys can provide the HLD.
This scenario fits in with everything the company has said.
Although I admit other possibilities exist, this I feel is the most likely one.
TOS.
funniest post of the week. made me smile
Redknight just guesses when it is a close period. See his posts from earlier in the year.
The PFS could well still be being worked on, due later in March, in which case Directors would be free to buy now.
(Note: I'm not saying there aren't other strategic discussions restricting director buys, but we don't know).
Quady, we are not renewing the lease on our corporate headquarters, which runs out in July of this year. Absolutely everything this company has done over the last 12 months has pointed to a winding down of all operations to conserve cash and prepare for a sale. Dramatically reducing headcount. Stopping all exploration. Indefinite prioritisation of the regionals. An indefinite strategic review. Read the MD&As, objectively, and wake up to this reality. This is the antithesis of how a company gearing up for a long mine build and production behaves. If you don't realise that, you shouldn't be invested in this share.
Addicknt, I think you are assuming there is a future for Solgold. I am not so sure.
NMM I thought the close period was the period between finishing and releasing the interim or annual reports? They’re out now
Jerry, indeed I do.
I'm really not sure why this MD&A is causing so much grief. We knew what the cash position would be and we knew that absent a deal of some description, more funds would be required before June. So what's new? The fact that the some people assumed the PFS would be early Q1, but we now appear to have missed the 'early' bit. Is that really a cause for panic?
SharketMare, I have been a successful investor for 43 years now.
What you say points to the opposite.
Just imagine that we have a joint partner to go to production.
Then exploration of the other tenements would be wound down.
Cash conserved, why we get this up and running.
As for an office, the current premises would be unsuitable.
I have been involved in many sectors, but my investment expertise is in oil and gas, it's where I made my money.
This is my first mining investment, but have learnt a lot over the last 11 years.
Many things are similar.
The largest similarity is it takes longer than most people think.
And the mothballing is taking even longer than the French translation. Costs should have been slashed by now but they’ve barely changed
What are the remaining hundreds of bum scratchers even doing?
'84, admin expenses are down 67% compared with the same quarter last year and 54% year on year. How does that equate to 'barely changed'?
Add I’ve not read it in full yet, all I know is we were spaffing 3m a month and we still are
As for Quady, the sheer hypocrisy!!! Made all your money in gas and oil now you want to stop others prospering from cheap energy!