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Really delivering shareholder value aint they................
Well done Sangha, Irwin et al
Wnkrs!!!
BN.c
BN.c , they'll be delivering for themselves , watch the RNS's re options etc.
add ,to comment on one of your earlier posts re Claire at al buying 165k of shares. You suggest they know what's coming. Isn't that insider dealing?
Just to add to that , didn't some lot pay 32p not so long back foe £5m's worth?
Until there is any sort of offer , ever the BOD are working it out as every day passes.
As for drilling in Australia , well , I thought they told guys the riches were in Ecuador? Are they not so sure now that Ecuador is an easy jurisdiction?
So many questions , no answers.
I hope RK can do a post tomorrow so that I can comment it was so good I recommended it.
Covgaz if you accept no bid is coming. Then everything the BOD has said makes sense.
We are conducting a strategic review in order to advance Cascabel.
Just ask yourself how do we build Cascabel and remember all the other announcements that point to a JV.
Quady , in this moment I simply cannot disagree with you.
A few things don't fit well with that school of thought.
What Bob Shanga said about that course of action , lots of the top personal leaving in quick succession with no explanation and no replacements . Indigo going as far as mentioning a new strategy when he left suddenly. All the studies being put on hold.
I would say, something clearly changed.
Oh and that's not to mention cornerstones suddenly found enthusiasm for merging after all.
I would say if you listened to the company line and ignored absolutely everything that has actually happened in the last 6 months then nothing has changed.
Monte CGP are happy with the outcome because they were getting very close to stumping up a load of money and as we now see they don't have it, as we are currently lending to them.
It's only very short-term funding, though.
Perhaps SOLG will be bunging them a quarter mill, every couple of months, forever ?
Monte, you are absolutely right, everything has changed.
Bearing this in mind, I find it ironic that, having been so patient for so many years, some people are upset the new regime, who've only been in place for three months, haven't yet delivered the SR and are accusing them of incompetence.
As I said yesterday, the company set itself the difficult technical task of completing a cross-border merger whilst simultaneously reviewing every aspect of our corporate strategy - oh, and raising $80m financing as well.
It doesn't get more fundamental than this and it's EXACTLY what many of us have been wanting for a very long time. Give the blokes a chance!
Morning Add
Yep funding overhang has gone, major new institutional investors on board ….. just sit back and wait for news. Todays rather depressing share price is no reflection of where this can end up.
It's a question now of how long do you hold though, there appears no support to the SP at present
dave, surely the logical answer to that is you hold until the SR is produced? It doesn't seem to make sense to sell when we're on the cusp of potentially significant news.
Of course, I accept it may not deliver what we want, but I'm of the view that Sangha and Co entered this arrangement with a very clear view of where they want to take things - all they have to do now is deliver.
Agreed addicknt we need to hold for the strategic review so the company can explain to us shareholders for the umpteenth time how we are going to move Cascabel forward.
Dave it will no doubt drift down day on day without news, that much is certain….. it’s just a question of how much longer we have to wait and whether one wants to risk jumping in and out at this stage.
There wont be a SR addickt...merger completed then bid...
Q, you say the company will be explaining how to move Cascabel forward for the 'umpteenth' time...I wasn't aware they ever have.
Folks is someone able to provide a run-down of the merger deal with Cornerstone? Or point me in the direction of where it's stated. Thanks in advance for any help.
We are permanently on the cusp of some significant news. Unfortunately, solgold has a track record of delays and disappointment.....
Repetitive strain phil...
Every significant event/RNS gets delayed...
They have consistently overpromised and underdelivered..."shock and ore"..."one of the best holes in South America..."...etc
Can someone confirm if I've got this right:
- Straight merger where they receive 20% of the value of Solgold as an entity equating to 15 Solg shares for every CNR share
And
- Solg have the right to pay for 20% (of that 20%) of the consideration in cash, equating to 4% of Solg shares in issue
Can someone confirm this is correct? If so a few questions:
- Is there a set price that Solg can elect to buy the 20% (of 20%)?
- Does CNR come with any assets?
- Someone has mentioned previously Solg own a % of CNR, how much do they own?
Thanks for your help (to anyone who responds).
Sorry forgot to say thanks Dreamboat for the response.
There many events and requirements pulling at various ends of the SOLG management team. Whether it be tidying up the loose ends of the Accounst pre merger or not, one thing is becoming very clear.... we are currently in negotiations with Lasso and Ecuador mining team with regard to moving from exploration terms to exploitation terms on our ENSA licence. This is key as it moves us into the next phase which I believe carries commitments on both sides. Those commitments must be backed up eg... funding in place. We may have ticked the box near term with the $50m raise but if timelines start to kick in on the mine life from Dec 2023, then we need to have ENSA partnered or sold before then or around then for sure.
Fast and smart is not just a selfish CGP mantra for the greedy ones. It's about moving ENSA/Alpala forward without losing crucial mine life and profit years.
Exploitation negotiations were noted in recent MD&A.
Ironically .... for SOLG to progress these discussions with lasso and team (as of now) they must already have a credible partner or finance plan lined up. Otherwise, you can imagine the sit down discussion starting with.... so guys before we help with some taxes in early phase etc etc just remind us how you are going to fund this $3bln??
FWIIW, I think CGP/SOLG have been working hard behind the scenes since July 2022 so well advanced. Like true SOLG... shareholders are being updated 3 or 4 months behind... but what's new!
Add
The reason I'm upset is because we could have told them to follow this new strategy 5 years ago.
What value have they added in that time, apart from the value in their bank accounts?
We are also putting our faith in them now to get it right even if a few new faces are involved now.