Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. 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.
"Solgold has never been in such a strong position" S Caldwell - Nov 2023
Exciting times
Yes, I imagine Scott is getting quite worried now as with just over 16 days to go before he reveals the product of his last 12 months in control... the market is pricing SOLG stock at multi-year lows.
Manipulation aside, I think Scott and most traders out there would have expected this to be back to 14p levels+ going into the last couple of weeks of the impending PFS and grand reveal of his master plan.
If it's anything like the much heralded website refresh... then we are in big trouble as that looked like it had about 2 days spent on it yet it took 4 months to deliver.
You made up that deadline though, Fort. "Early Q1" is meaningless, and indicative of the kind of wooly management speak that Scott favours. If it's late March he'll claim it's "Early: Q1 2024" instead. Truth is, if there was something cooking we wouldn't be down this low (I'm ready for your meaningless Noront comparisons). Market expects funding will be needed soon (it will), royalty deals less likely without a credible path to mining, and an issue to a big investor at this point would have to give away 20%+ of the company for $50m, my guess.
For all the fools believing the "we've never been in better shape" there are experienced investors recognizing this is now pretty precarious. Hope people haven't over- exposed themselves.
Stackhigh and Fortissimo - your spreading absolute rubbish again.
- the PFS is long finished and being shopped around to suitable parties. Likey we also have a high level DFS concluded.
- We can start developing the incline now.
- We have previously raised $100m for 1% NSR. We can absolutely achieve this again as we are far more advanced.
- We have sufficient capital for admin for 2024, hence we are running off an oily rag at HQ.
- BHP wants SOLG mgmt to dilute themselves... so their great idea is to hold down the SP.
- SOLG mgmt will dilute the project (BHP's intended prized baby) via an NSR before they dilute their holdings.
NSR incoming for decline commencement
'we also have a high level DFS concluded.'...
Are we just sitting on it to protect or 7p share price???
Along with Redknights greatest drill hole results in South American mining history??...
Two things:
1. We're giving the Chinese as much time as they need to do the DD the require.
2. SOLG is using time to their advantage to deliver funding options for funding Alpala via the growth and potential sale of regional assets.
Bbg - I'm pretty sure all of those bullet points are wrong.
Readers here will decide who to bet on- a man who tweets WI every time he needs reassurance but then comes here and makes up stories anyway, or a guy who correctly predicted the lack of sale for the last two years in the face of baseless, brainless ramping.
One of us knows the company, one of us likes to make up positive statements to cling to...
Can anyone remind me when Scott / SOLG said they had appointed external consultants to produce the PFS?
I recall it was fairly recent, December? I've checked the MD&A and notes from presentations but now can't find reference to it?
Ortherncopper - you also missed redknight's statement that lack of management buys before/after AGM meant the PFS would be landing before 20th Jan...
"Given the 31 day constraint, I can only assume that the PFS3 is due by 20 January latest, i.e. 31 days after the AGM.
...
Otherwise you can be certain, with the depressed SP, that there would have been buys..."
NMM I don't recall this being announced. In fact I noted in the last MD&A that they planned to do so but had not yet.
When Scott updated the market via the formal RNS channel in Dec pre AGM, and he said PFS ready for release in early Q1 (eg before Feb 15th) he would have either engaged the external audit consultants prior to writing that RNS or had already had guidance from them to say they would be completed by early Jan... hence he would have factored in some safety overun time as wouldn't want to look a fool to the market by missing a simple forecast.
So, without a doubt... external overview would have been likely underway in Dec if not before.
Tick tock Scott... Q1 is soon to be 33% complete. Mid feb and it will be 50% complete. End of Feb and it's heading into late Q1.
Hi Fort
I've found the messaging re: PFS unclear and inconsistent.
It seemed that SOLG would be producing this themselves (as opposed to previous PFS taking best ideas from consultants/advisors and getting one of them to produce it).
But then late in Q4 SOLG suggested they were looking to appoint a mining consultant to produce this. (Apols, this is the evidence I can't clearly find now).
This struck me as odd given market - at least eager PIs - are expecting the PFS to land in Feb. And I would have thought would take a while to produce/review. So more like end-March.
I accept 'PFS3' could simply be releasing all the PFS addendum update work from 2022/2023. i.e. most of work done, and just need consultants to review / put name to...
... but we don't know.
NMM, I am on record posting that I do not expect the phased plan to be published by end of Q1 and that I expect a 2 quarters slip using the French translation and the never ending SR as a basis for my estimation.
Of course the rampers did not like my post. Scott The Rocks Caldwell is an incompetent ceo and I will be shocked if he actually manages to meet a milestone time line.
You sound desperate Fortissimo.
What happens if the PFS doesnt arrive till end of March?
Are you going to continue carrying on like an emotional inexperienced investor? Is that the game your supposed to play here every day?
BBG,
Lets keep it civilised. No need to be personal about it. I'm just going by the official company updates and the last RNS Scott issued was pre AGM and he very cleary stated in a bullish tone that PFS would be ready in EARLY Q1.
So what's your problem with that? Unless you are now saying that Scott was wrong and that he's given false guidance to the market?
End of March would be a big miss on guidance and the corp update issued a few days ago would have been the time to tell the market that PFS was no late Q1. But that didn't happen so all looks on track for Before Feb 15th.
If it's end of March... then that's going to look poor on Scott. But lets face it, he's not had a good 12 months at all has he?
Terrible comms, no Strategic review results to report... no IPA... no reduction in cash burn or cost savings... nothing. Utter shambles since he took over or should I say before 'Bob' took over.
The PFS has been pushed back many times. It makes no difference if it is released today or in 9 months time...
As I have outlined (and which is completely obvious to those with half a brain), SOLG is delaying the PFS to buy time in order to advance regional projects and allow time required for interested parties to concludes DD.
The 'buying time' process is referenced by the company as the 'strategic review process'.
BBG, I'm on board with that and have said as much. FWIIW... I think the PFS was sorted long ago and 'have been' waiting on inflation numbers and other stuff to improve. Makes sense. But.. here's the but.... Scott said very categorically just over 6 weeks ago that he would be delivering the PFS in early Q1.
On Dec 14th SOLG said...
Cascabel Update
Given the in-person format of the AGM, SolGold is pleased to provide the following update to all shareholders in advance regarding the Company's world-class Cascabel Project :
• Phased Approach Pre-Feasibility Study Progressing Well - Expected to be released early in the first quarter of 2024.
What you need to realise is that Scott and Bob are losing credibility every day that ticks by now and they deliver no news. That's why the sp is 7p and not 47p+. The market is calling their bluff.
So if they miss mid Q1... then it's more damaging for them and shareholders. If he thought there was a chance of missing early Q1 then he shouldn't have said it!! He didn't need to say it! He could have just stuck to the PFS in Q1.
So bringing it forward raises expectations.... and then to miss then just generates poor sentiment. And that's damaging. And that destruction is down to management alone.
So it does matter. You best drop Scott an email and remind him of his promises.
Fort,
"Expected to be released early in the first quarter of 2024" statement was to solicit votes.
"Nearing completion" on January 22nd is saying no way Scott The Rocks Caldwell will not meet the Q1 time line. I have no confidence in him to complete the work sharpish in order to publish by end of Q1.
Correction:
Nearing completion" on January 22nd is saying no way Scott The Rocks Caldwell will meet the Q1 time line.
Typo on my phone.
Eloro,
What if the external team looking over the PFS told Scott/SOLG that their report was 'nearing completion' and that they were on target to deliver it to him before Feb 15th??
Would that fit with the update on Jan 22nd? As ultimately... it is the external team that will looking it over as the market prefers things to be stamped by independents rather than company directors.
Fort, if that was the case, then I would have expected the following:
...nearing completion and is on track for publication by the end of Q1...
In December he mentioned Q1, but January 22nd Q1 was not mentioned. That tells me that he is not confident of meeting the Q1 timetable.
BBG the PFS is not being delayed for DD to be completed. They will release it soon. DD will be part of the strategic review that follows the PFS.
Eloro, no need for me to 'man up' lol. I don't think you have been insulting to me at all, so I'm clearly not referring to you in my previous comment.
Padmaster. I'm taking your advice and researching, so as to be able to post factually and informative,I thought I would start by going back over your posts to gain some experience.
I found this one from about 4 years ago. problem is mate I ant for the life of me find anything factual. so I'm wondering if you can enlighten me. I'm sure it must be there, because you even named the day.
Well held everyone.
Our time has at last arrived.
Roll on Monday.
I've actually found literally dozens of similar posts from you.
I just can't understand where you researched and got the facts from.
I will post one or two of your posts daily. maybe that will help you recall where you got those facts.
because on the face of it, there not very informative if there all wrong
I’m flattered that you are so obsessed with me Kalneedabari. Let me have a contact address and I’ll send my autograph.
Keep up the good work with reposting my previous tutorials, though most good people have you filtered - why would that be, eh?