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The previous "direction" had been DFS, fund raising and then production...the infamous Plan A.
So, now we have "shifted".
It's not that difficult to understand, is it?
Addicknt yep thats why being sold imho
50p the lot imho
Solg is in danger of becoming like the ugly girl left in the disco at the end of the night… desperately flashing a bit of leg to try to get some interest from whoever is left.
No Orthern,
This stunner had BHP and Newcrest sniffing around when she arrived. She is very choosy and will only take the hand of a handsome, very wealthy suitor.
GLA
Ortherncopper
Dismal post from you
But Pad, BHP left the disco with Oz hours ago.
They’ll be back!
Why would any of you conclude we are not being sold? This is a nothing of an RNS but a sale won't be initiated by SOLG but by a buyer. All we can do is signal that we are not wasting any further resources on nonsense like going into production, which we have now clearly done.
We are in the shop window now. That's really all we can do at our end.
I don't often call for patience but there's no alternative now.
Yes I expect the sp to drift lower until we get the first sign of something shifting but at least we are not down at the 5p level that any proof of going into production would have crashed us to.
And at least the going into production argument is finally settled in black and white - it ain't happening.
Opening bid of 55p. Final price of 75p after all the dust settles.
Sean spot on I said 50p offer but bit conservative there I think
Why do you assume that it is either OZ or Cascabel? BHP can certainly manage both, and they will have a decision to make on Cascabel soon. The DFS has been put on hold (cancelled more like it) not because it does not add to project value, but because that uplift in project value does nothing for shareholders because a company like BHP is certainly going to do its own project uplifting.
Pad agree with an offer
Someone should let the cornerstone boys know, that they need to please everyone, so there cannot be a sale.
They obviously got the wrong end of the stick. Silly boys!
50p Bubble? Be lucky to get 40p.
Utter shambles this is turning out to be. We've gone from meandering along in first gear to firesaling our company at the whim of a minority shareholder (CGP).
And PIs are happy about it. Just goes to show that many don't know what they're doing in these markets.
Hats off to CGP though… they have gone from minor bit part player, to running the show … and they have done it easily… fair play.
Bozi, interesting comment about this being a fire sale. In part you are right, but the reason for that is the previous management's patently absurd ambitions to take this to production as an independent entity.
The reason I say you're only partly right is that it's very important not to lose sight of just how valuable our asset is. People will want it and a sale process only needs two very aggressive potential buyers to make an auction a tasty prospect.
Addinct
Whilst many are quick to dismiss the idea of an imminent sale I believe the signs couldn’t be clearer.
Do they really believe the best way to production is a massively reduced workforce?
The decks are being cleared and the only question in my mind is whether we are selling Cascabel or the lot? …. My guess is the lot with a subsequent ( pre agreed) sale of assets to a third party to follow.
I agree the takeover drum has been banged for years but that’s simply because it’s been inevitable for years even when the bluff was in full flow.
On top of all that has been discussed RE shift in direction, I've just had confirmation from Fawzi that PFS2 / the PFS addendum is no longer going ahead.
Also had that email this morning.. No PFS.
Well no pfs and and email to confirm would suggest that's it we being sold imho ,expect another RNs shortly this rubbish of not before Xmas is like I say rubbish imho
And despite the markdown today theres still the same insistent demand for shares by the MMs...
The decks of 'bad' news have been cleared; all non-essential activity has ceased (and not because we are running out of cash);...
This could be the last buying opportunity...
What will come first?
Osisko completion
Share stake sale
Merger completion
The first bid
Sunsequent bids...
Red cashburn
Share stake can be sold any time and lent to SOLG
Osisiko $50m closing "imminenntly"
Can't see much happening till next year now, Xmas approaching probably drift a little.. annoying..
Tree shake...
I'm bid for 600k at above the market price...