Firering Strategic Minerals: From explorer to producer. Watch the video here.
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This has all been designed by Citi and Bob. Consider this was recorded on the 16 March. Why push it out now?
Just listening to the interview now. Key items:
- Non dilutive financing
- Continue to de-risk.
- Strengthen balance sheet short term. Secure cash through non dilutive form.
- This non dilutive cash will also be used for regional exploration
- Obtain outstanding permits to build concentrator within two years. Low cost.
- No more drilling at cascabel. Our reserve is solid.
- We can get a strategic partner to help us get this into production.
- We're not trying to raise $1,5b right now.
- Todays spot price make us very attractive.
- Scott thinks 23p would be acceptable. This aligns both investors and interested parties expectations today. Sends a strong message to interested parties.
- Signing balance financial agreements with government in 'near term'.
And the last few comments....
"Stay tuned, there is going to be a lot happening at Solgold over the next few weeks and months"
My guess is that they are expecting a bid imminently as this was released two weeks.
Very good point BBG. ….. recorded almost two weeks ago … what were they waiting for?
If SC wants to take 23p for Solg then he won't have to worry about his wife wanting to kill him as I'll find him first. I've not put up as much capital as I have for 23 f'in p. Posturing I hope. Nice rise today :-)
He has also confirmed that "over the next few weeks or months we will have announced some non-dilutive proposals that will help us continue de-risking Cascabel and expand regional project exploration"
So, does that mean interested parties should bid for the co or project before more capital is raised?
Video recorded on 16th March.
Hannam's price target circulated on 20 March is double Scott's 23p.
So if this was recorded 10 days ago, does it mean 23p is inbound and or already received (why push it out today), and Hannam are expecting it to be countered by a competing bid. A bit smelly
And another timely reminder by Solgold PR team.
"We are for sale"
https://x.com/SolGold_plc/status/1773003252637835679?s=20
Someone bought 20k worth at 14:51 Ooooo yeh! Keep em coming
I’m reading the 23p mention is for pi’s confidence that you can buy all the way up to at least this price.
They have close to $5m cash balance left and $6m in licence commitments just for the regionals... so yes... a non dilutive cash raise is require imminently.
By non dilutive, they either mean proceeds from Porvenir sale or deal or proceeds from the 157m CGP shares.
The irony is... these shares are actually dilutive as they would be accretive if they were cancelled which is what should happen prior to a full sale. Would add 5% to shareholders.
It's a myth to suggest these shares are non dilutive just because they are already in existence.
The CGP shares are owned by all shareholders so if they get gifted to someone else... they really ought to be offered to all shareholders first. That's fair.
Get some rumours and Ramps out on twatter anyway that’s what the bingo shares do
I am sure SC knows 23p is just a starter.
Knowing that he would accept 23p, it sends a message to those wanting to challenge BHP for the reigns.
BHP would be reluctant to move before ESIA is concluded and so it would give smaller groups some hope of having a really good crack at owning Cascabel.
It may be that the bid starts now and during the ESIA is concluded, BHP then show their hand.
What a very much better day, especially being focused on Solgold rather than irrelevances...
Oh and BBG I'm glad to say I've unfiltered you as you are adding plenty of constructive comment to the debate
Ask Redtheramp how he knew BBG was bringing good stuff to the debate if he was filtered?
Can't believe a word that fella types.