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.
the only thing I can say is, thank feck that's over! What a crap day.
Addicknt, does it matter? It only matters if you are trading or over leveraged etc. Many invested for the takeover or buyout north of 70p+ levels. Whether that comes or not is anyones guess but the sp could be 14p today or 34p in a few weeks...and in both instances it matters not much if you are holding for the buyout deal.
14p levels only really matter if the company plans equity raises and as we know, Mather was against doing hefty equity raises when the sp was 26p so there's no way he's going for it at 13p.
Today's collapse (not the only Stockton wobble in the woeful market of late) could actually push a funding raise toward Royalty deal or a JV partner deal and so on. Those scenarios are now more of value to shareholders than equity raises at 26p+.
BHP and NCM don't like royalty deals as it effects their future interests lol! But even they can't argue that doing an equity raise at 13p or 14p is better value than a royalty deal. We've had $100m from Franco, so lets get $100m from Boliden and show the market that the assets are 'prime' and indemand and the share price needs to readjust to reflect that.
Actually it was a good day...
Fortissimo,
I'm baffled who is running this company at present? Is it Nick on his own or the BOD?
Fort, in answer to your question, yes it does - for exactly the reason you mention in your second paragraph.
"Mather was against doing hefty raises at 26p so there is no way he's going for it at 13p"
UT 813,394 at 13.76...
If thats true Josepi, Colonel, whats his personal agenda...?
Nick and crew have blown it........ We are at the mercy of the markets until they can unblown it .
Looks like a 119k buy there
Still 15.18 in Canada...
CGP and DGR still at longer than 2.1/2 year lows...
Redknight1,
"whats who's personal agenda ? "who are you referring to ?
"Nick and crew" have 25% of the shares...
Who broght in the Valuestone deal...?
50.4% down YTD
Mather is the favourite in my mind to be the catalyst to a buy out, arguably he has lost the most, even though he had most of it given in the first place.
His ego will not allow this company be given away, not if he can help it.
And he'll help the rest of us in doing so with any luck.
Nick...very very quiet despite personally being down £25 million since April...
853,457 at 13.99p takes us to the second highest volume since April 2021
Bigger than the total volume for the previous six trading days put together...
I'm guessing that, apart from the misplaced panic about 'going concern', most people were expecting some news, especially about drilling or whatever...
Josepi
That's a tough question. I have Mather and potentially associated partners/holdings etc near the 25%+ mark. So it's not just about ego's here (eg ex CEO) it's about Mather's baby... and how this ends up. Mather was the one that got the Franco deal done and it resulted in him losing the CEO role but remaining a director. Rightfully so as he holds a large wedge here.
Applying logic, one would say it might have been straight forward to just revise the funding structure which 'failed' and represent one that would work for all. But the fact that it seems like all involved have just let the sp slide on leaving the funding issue unresolved.... makes me wonder who's squeezing who?
Slug offered up some nice scenarios a week or so ago. The one I like goes a bit like this...
1. let the sp slide / telegraph funding issues
2. Then do nothing until we get close to AGM resolutions time (eg posted 1 months in advance of meeting, so Nov 6th or something like that)
3. Then just before AGM resolutions - Mather and his buddies (Chinese/gina/wyloo) make a low ball bid of say 36p which will look very attractive if sp in low teens.
4. Then see what BHP and NCM do. At this point not much time to react as AGM fast approaching.
5. If nothing comes from BHP, then Mather gets his baby back on the cheap and BHP have lost.
This kind of plan has to be workable so needs to have deep pocket partners involved. Chinese and Gina tick those boxes. I'm not sure the US will be happy though and considering Lasso is 'their' man IMHO, he might come under pressure to make any Chinese deal unworkable. There is politics at stake here and last thing Ecuador/US needs is lefty green warriors getting in (came very close indeed at last elections).
Overall markets are not pretty right now so I think SOLG would be down into the teens regardless of funding being resolved. Look at GGP... funding sorted yet 20% down from that priced deal, 30% down if you take the combined warrant deal.
We might be at a stage whereby we see the FTSE100 drop below 6000 level. In that situation, SOLG would be dragged down too even on low volumes.
Sorry Guys, I'm losing the chain here.....
"Nick and crew ?" Nick owns 4-5 % of this company not 25% ....
I get he is heavily invested and is keen on getting over the line -conclusion , but I think now events have turned so quick it may not happen.
Bought 141,500 today for 20k happy with that considering @ 39p would've cost me £55k
Remember this from only six weeks ago...
"H. Brooke Macdonald, Cornerstone’s CEO: “There are simply not enough copper projects in the development pipelines of major mining companies to meet the anticipated demand for electric vehicles and low-carbon electrical infrastructure by 2030-2050, and underinvestment by the majors in early-stage copper exploration means to maintain their production profiles and market valuations they will need to buy reserves – by acquiring juniors like Cornerstone and SolGold – to replace reserve depletion, so we anticipate a frenzy of M&A activity for existing copper projects like Cascabel as well as companies willing to fund drilling in potentially large porphyry system environments in good jurisdictions like Ecuador.”
Macdonald expects Cornerstone Capital Resources to be bought out within the next 12 months. At present the company’s market cap stands at around $119million with a share price hovering around CAD$3.19. Yet analysts believe the recent pre-feasibility study for Cascabel means Cornerstone is worth much more. A conservative estimate from David Davidson, the Senior Analyst, at Paradigm Capital, has a $6.50 target on the stock, which he rates as a speculative buy"
So if the valuation of Cascabel adds $4 to the CGP price, that values Cascabel at £631m as it is at present, which is worth 28p to SOLG even before the mine is developed and the NPV is used...
Got 40k waiting for 12.50 fingers crossed..
Fortissimo,
Wow appreciate that reply, but events are turning so quick everywhere at the moment ...
Interesting thoughts , I'm unnerved by whats happening here! Solgold always historically bounced from 24p levels regardless of events ... we are closer to half that now.
Nick, DGR, CGP and Tenstar...
For the record , I would like to see Nick back at the helm as this is turning out to be a horror story.