Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone 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 latest
“ The issue of the upcoming Denver presentation is resolved. You should see it in the upcoming events. The disclosure review was completed this week and the updated site is launching. ”
I can barely contain my excitement.
There may be a few updated bits to discuss at least Add ….better than the recent garbage in here
And I see the link is available to see Monday’s presentation
Doubt it DBW. Likely a rehash of the same old info in a fresher format.
Meanwhile, price continues to coil as it has since April. Coming to the thick end of it now. Be interesting if we see a break up to 18/20p or a break down to 10.
Hi Bozi
Be nice to see this updated ….. according to this we only have 2.5bn shares in circulation
Yeah I mean there's just no excuse for this to not be up to date, new website pending or not.
It's been wrong since! Nov/Dec 2022!
Really hard to stand up for SOLG when it comes to governance.
Takes a long time and many creative consultants, to decide on a font
Can someone explain this?
17 April 2023
"SolGold does not currently hold any shares in treasury ..."
17 May 2023
"The Company ended the quarter with strong liquidity, a cash balance of $48.1M, plus $25.4M shares held, which can be sold at the election of a wholly owned subsidiary. "
I.e. as at 31 March...
The May 2023 presentation had the cash (and shares for sale) at $77m "as at 31 December"
But the June presentation had "US$73m cash and estimated owned shares value at 31 March 2023"
Note 31 March again, but to reiterate, on 17 April the company said "SolGold announces, for the purposes of the FCA's Disclosure and Transparency Rules, that following the transfer to the Company and subsequent cancellation of 898,886 shares in the Company, the total issued share capital of the Company consists of 3,001,106,975 ordinary shares of 1p each with voting rights."
So is there sleight of hand going on...is this the reason why we've had no updates to the share register since December 2022 and is the cahs in hand now actually more like $45 million with no shares held in treasury for resale?
In which case do we actually have enough to last until June 2024 as Scott has stated...?
RK, I can't explain the seeming anomaly, but I'm 100% convinced we still have those shares held in Treasury, albeit they are held by the corporate entity of CGP. Had we sold the Treasury shares an announcement would be necessary and there hasn't been one.
I thought SC said he had 17-19m odd shares too, or had he added since the 1m referred to?
Twigger has been at Solgold for so many years… knows all about how great the asset is, how the discovery has progressed over time.. yet has a miserly number of shares, despite many, many opportunities to buy over the years, knowing what he knows… Reds Mrs has more shares than him..
Copying from when we discussed this in February:
Under the Companies Act, treasury shares are shares that have been repurchased by the company using distributable profits pursuant to a share buyback scheme.
The CGP Solg shares have not been purchased in such a manner and definitely not using distributable profits. Therefore I don't think they are considered treasury shares under the Companies Act. They will just be an asset of the CGP entity that is now a Solg subsidiary.
So Solg does still own the shares, but technically they aren't treasury shares.
+Ended quarter with strong liquidity, cash balance of $48.1M, plus $25.4M shares held, which can be sold at the
election of a wholly owned subsidiary...."
Copper up copper down
Silver up silver down...
Gold up falling back a bit
RIO and BHP up again...
Solgold going nowhere...up a big fat zero...
Solg very rarely goes up any longer , when in doubt they bash it down a bit just to be consistent I'm sure. It really is a depressing spectacle.
Time in next week, everything’s about to change
*tune
Welcome back 198(2×2).
Been awile since your last post. You haven't missed anything here, paint still drying:)
NAL came up with a new expression for calculating Average.
Ship had a chat with Fast and Smart Bob who failed to explain why he hasn't delivered anything meaningful to date. That's about it.
Was always going to be quiet over summer, hand back on soon.
I’ve been passing time up to my nuts in guts, taking several flights I didn’t need to take, looking again at a six litre Bentley and getting a new gas boiler installed before the nutters try and ban them.
Been looking for a new wig in Peckham too but my usual store was closed for some reason?
Tell me about it.
Of course you know that Quady is an expert on all things Boiler. I am sure he would be happy to share his expertise knowledge.
Peckham, absolutely crazy. Clearly no anger management skills. I am not sure that it will be safe for the owner to reopen his store what with lynch mob baying for him.
Let's hope that solg management will start showing some legs now that the AGM isn't too far off.
Oh I’ve serviced a fair few boilers in my time ;)
Still chuckling at last weeks wind auction where they received zero bids to build new wind farms as its not financially viable
Green revolution eh?!
Looking forward to a move up in price next week as news starts to flow
How certain are you of the news '84? As certain as you were with the exploration agreement? C
The outcome of the auction was a total embarrassment for the government. One would have thought that they would have carried out a survey before going ahead with the auction.
News is well overdue. Bob has a reputation to uphold so he better get a move on.