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.
Hi DBW...you seem to be one of the most sensible people on this Board and convinced something is going to happen.
And I know I was bigging up Nick last week, but...
Don't you think we are long overdue...?
AGM on 22 December...clock is ticking...31 days and we've had 35 days notice in the past.
Surely we need NEWS?
Like whats happened with the merger...no mention of any vote or anything on the CGP and their stock price going sideways like ours...?
And OMG...UT is 158,412 at 17.88...jeez...
seriously hopping Shanga wasn't just selling dreams.
Hard to know really red. Might be struggling to place the shares at desirable price. Might be keeping their cards close to their chest before the AGM to give BHP and NCM less time to coordinate a response/strategy. Who knows. I think it's pretty par for the course now with Solgold though. At least the recent PR campaign by Sangha & co has given us clarity on who is aligned with who on the register and what current BOD plan on doing (monetizing Cascabel).
Ortherncopper, if you read this, did you get a response from Fawzi on Porvenir PEA and revised PFS for Cascabel? I didn't. Which has led me to think that we won't see them this side of 2023.
Shock. The bluster was... Bluster!
I don’t think we will see either going off the quarterly report. No indication therein that we would be given them anytime soon .
This is a hunch more than anything and I hope I’m wrong
Hi Sharket,
I have emailed twice over the last 2 weeks, and have received no reply.
This is not typical for Fawzi… he of often late by a day or 2 in replying, but usually does reply.
Don’t underestimate our boards inability to close the deal.
I am now expecting the PFS to be shelved until next year… just my opinion
Thanks Orthern.
Quady posts all removed again?
Did someone go running to teacher???
So Quadys ruked dont apply to himself?
Shamr on you LSE admin.
I think Bob Shanga has given us more insight into what is happening within solg than any other board member including Nick Mather has given us in years.
I used to dislike cornerstone as a solg shareholder, but over the years have come to believe, that they have been the smarter guys and were right all along about solgs shortcomings.
RK, you will know that corporate actions always take time. No need to start panicking.
Monte - Sangha couldn't sell 15% of Cascabel so don't hold out too much hope of him selling 100%.
Its funny how Cornerstone have curried favour with so many just for feeding PIs the snippets that get them all excited. The bottom line is they proved themselves unable to manage projects without the government having to get involved.
Price is struggling to hold 18p because nothing is moving as fast as a few think, I suspect.
Bozi
Whether the snippets gets us excited or not, the point is, he is actually telling it as he sees it.
And that gives us an insight into what is happening.
Unlike the board of solg which thinks nothing of keeping us in the dark. That is until they produce a grovelling pleading letter the small shareholders just before AGM's when they are desperate, and then after that treating us like fools again.
You may enjoy being kept in the dark but I appreciate Sanga giving informative press interviews.
Here's the thing guys, we are having a strategic review.
No one has mentioned selling anything.
Quady - in fact, SOLG has. From the 7 October RNS
"Pursuant to the Agreement, SolGold is pursuing a strategic review process with the goal of maximizing value for all shareholders (the "Strategic Review Process"). Accordingly, SolGold has appointed Citigroup Global Markets Inc. ("Citi") and Maxit Capital LP ("Maxit Capital") to act as financial advisors to assist with exploring value creating alternatives for the Combined Group. The Strategic Review Process may include, but shall not be limited to, evaluating and pursuing the following:
· evaluating financing alternatives for the Combined Group;
· a spin-out of assets, other than the Cascabel Project, to all shareholders of the Combined Group;
· the direct or indirect acquisition of an interest in ENSA and/or the Cascabel Project howsoever effected; or
· any other transaction or series of related transactions as may be agreed to between the Parties."
Agreed Bozi everything is on the table, yet somehow people have concentrated on one aspect and the most unlikely one to support their worldview.
I appreciate your healthy scepticism Bozi, but it is not appropriate to compare selling a pre-merger 20% economic no influence interest in Cascabel to a 100% fully in charge interest like it was a simple sliding scale.
Q, one minute you state without equivocation, that no one has mentioned selling anything and then in the next you agree that they have. You follow this up by saying people are concentrating on the most unlikely one to support their worldview.
Does it not occur to you that is exactly what you are guilty of?
2Luke, you are spot-on. The merger with CGP makes the whole thing far more attractive to a potential buyer; for the simple reason it makes any transaction far easier...and that includes fund raising.
I think you're being very polite 2Luke. Some would say 'ignorance' rather than scepticism!
Super majors don't buy 15% stakes as it reveals their hand and puts up the price of the 85% remaining stake which they still so desperately need to make it viable.
Any numpty would understand that. Some on here are getting desperate with their negative slurs. Embarrassing.
Anyway news out!
No addicknt I haven't, read what I said.
Also didn't I say that the 0.6% royalty of 50 million was for Alpala DFS.
That is exactly what we are doing.
Plus a reduced build cost.
Nothing here saying we are going to sell Cascabel unless we get the price we want.
That has always been the case.
All the people that said we would be sold by the end of the year are wrong again.
They cannot understand why.
Yet I have been proven correct again.
It doesn't mean we are selling Solgold or Alpala.
Correct Quady!
Q, so you don't see the contradictory nature of your two posts? Oh well.
Interesting that a 'spin out' seems to have been added into the mix. Don't recall seeing that before.
So basically everything that is not ENSA spun out into a new company....mmm.
Or some assets spun out...
I did elude to this a while ago... I think Mather might be taking on some of the grass root projects... just a hunch. The advanced stuff and priority targets likely to remain in folio as potential buyers of ENSA will wants those is my guess.
PFS2 was dead in water due to inflation basically making it pointless right now but move to DFS next year and inflation drops etc then you have a better story. Porvenir PEA disappointing though. No justifiable reason to hold that back imho.
Addicknt on my first post I explain that the whole of the announcement is ignored apart from one small bit.
It's the announcement that is contradictory not me.
Basically the announcement says everything is on the table.
Today's RNS is the same.
We will not be sold by Christmas as so many on here have said.
We continue to production, next stage is DFS.
It really couldn't be more straightforward.