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the only company in history to announce a strategic review which is then followed by a falling share price? Odd, isn't it?
Lol you cannot have been in many cos that have then because I cannot remember many that have reacted positively !
We must have had different experiences.
Lol yes I am becoming an expert in picking duffs !
Ha! I can understand if the background to the announcement is that the company is in trouble and the SR is the final throw of the dice of a worthless business, but that doesn't describe our situation.
How long should it realistically take to get some people around a table and make a decision?
Our share price will just continue to slowly slide until the review decision is announced. It’s what the Solgold share price does whenever there is nothing to report.
Given we have no exploration news to report, I’m guessing next news is Osisko DD for royalty deal at the end of next week.
Add, if the project finances are not that great, and the big boys decide to sit back and leave Solg on the shelf, that post of yours could be quite close to the situation Solg finds itself in…
Probably Addicknt. It is strange and a bit disconcerting.
orthern, how long is a piece of string? (when you think about that expression it's really quite stupid)
One of the key determinants here will be how far they were already advanced in any ongoing discussions with potential buyers. Additionally, are they really examining all the options, or have they already decided upon the direction of travel?
Not a very helpful answer, but the fact is we're totally in the dark.
The low strike price for the shares that went to the Chinese, leads me to believe there were no other players at the table wanting that 6.5%.
I’m not sure I buy this constant picture that is painted of lots of supermajor miners all wanting to to swoop on Cascabel any minute. I’d like it to be true,
But I see no supporting evidence other than peoples ramps and fantasies.
I hope I am wrong. My faith is fading away fast
orthern, given the recent investment from our Chinese and Canadian friends, I'm not sure we're in that situation. In fact, quite the opposite.
Morning Add
Whilst nothing is certain I do feel we’ve been given strong hints as to the direction of travel from here.
People with large amounts invested here who have openly stated they want Solgold sold are now steering the boat. It’s simply a question of when and if the market believes the story .
It’s no wonder with all the resignations and uncertainty that we have lost ground but we still have a hugely valuable asset ….. expect some really positive press in the lead up to the AGM
Suggest anyone who hasn’t voted yet does so and gets behind the board
Orthern...there you go again...please tell me how you calculate this?
"if the project finances are not that great"
Ther was $11m left at the end of September; $50m from Osisisko; $36m from the placing (banked) = $97m...
Plus potentially at least $30 million from sale of the CGP shares and then lent to SOLG, makes $127m...
This would be more than enough to get through DFS to financiang Cascabel...
And in fact you refer to "project finances are not that great" which appears to refer to financing Cascabel...
But we aren't getting that far and the market would be a very differnt animal by then with much lower inflation, lower North American interest rates (where the funds would come from) and an even tighter copper market than now...
No that much is true but normally when a strategic review is announced it generally comes about because there are unhappy shareholders and things are not going to plan/viable/profitable/ any or all the above
DBW, I agree with that. They've made it crystal clear - hence my bemusement at the share price.
My guess of the length of the string is- 6.5% of the company sold at a low price, the share price still lingering around 16 -17 makes me think there are no buyers dying to buy. The directors have made up their minds as to the direction of travel which is to go to production. I have stopped dreaming of riches and instead praying that at some stage I would be able to get out with a modest loss.
Why are you invested when you clearly have no confidence in the asset you invested in? You should stay away from these sort of investments.
“The directors have made up their minds as to the direction of travel which is to go to production”
Lol
It's interesting to note how a number of posters have turned pessimistic recently. This seems odd, given what's going on.
If nothing was happening and the board were still wittering on about being the next BHP, I could understand it - but they're not.
That’s because most do not even know how to begin to value an asset like this. This lack of conviction causes their confidence to sway with the share price.
If the directors have made up their minds lol ...why have they handed control over to a group that want it sold ?
Luke...thats another meaningless debate.
It vwon't be us valuing the asset if someone makes a bid.
It will be your decision whether to sell or wait for the money. You have no control whatsoever, because at 75% its done and dusted...
OK so you could hang on to 90% when its compulsory as the MUST did at Manhcester United but, at a high enough price the deal will be done.
So is your answer yes or no...simples...?
OMG Not2sure...did you really write that...?
"why have they handed control over to a group that want it sold ?"
The share price has an all time high of 45p and it now sits at 16.70p because of aimless drift.
I'm so glad that someobody will finally put me out of my misery by bidding for this huge pile of disappointment and frustration...
RK, I think you'll find Not2's comment was rhetorical. You missed the context.
RK, if you believe or are happy to accept this stock will go for 80p, then fine bail out when it arrives I think the rest of us will wait till a minimum of £1.20 to £1.30, £2.5B to £3B. Might take a few more years but hey ho whats another 2 years when you've been in 5 or 6. Have a fantastic week all, I'm off to whistler for a weeks skiing.
ONWARDS & UPWARDS