We would love to hear your thoughts about our site and services, please take our survey 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.
I repeat my answer. I don't know.
RK, I repeat my question. Does Solgold have the authority to do a share buy back?
DTH … for once I don’t disagree
Some of it is shorts being closed out imo...
Nice explanation and possible options for a strategy going forward, Red! Nice!
No need to be negative here! The only way is UP. Gold hit $1940/Oz today. Steadily up!
Novice...the £172k was the UT...which is pretty good...the 445,000 was a welcome bonus.
Pretty good volume day all round with a higher average trade size...
Do psome people know more than we do about an imminent bid...?
Hi Stukey...I think you may have misuynderstood.
1 The merger document provided for the possibility of SOLG paying a cash consideration up to 20% for CGP shares. In the event this wasn't needed, probably because 99.98% CGP shareholders voted for the merger.
So that saved us up to c$30 million, which coincidentally is more or less what we raised by the share placement.
2 When the merger completes by the end of this month, we will own the 157.141 million SOLG shares that CGP used to own.
That gives us three choices:
A Cancel the shares, thereby reducing the shares in issue by 157 million
B Keep the shares in Treasury, from which they could either be redeemed in future
C Sell the some or all of the shares (e.g. to Jiangxi as some have mooted)
However, we don't need the cash, so I would be in favour of redeeming them.
3 Whether or not we keep the shares in Treasury, we have saved ourselves up to $30m. We have a total of $80+ million, so
4 My suggestion was to use some of our cash to buy shares in through a share buyback scheme.
Putting it all together, we would have taken 157 million shares off the market and, in a thin market which is regularly bidding for up to 700k shares, I believe it would not take much to push the SP up at least into the 20s, which would be a better starting point before the inevitable bid(s) arrive
Hope that helps...cheers.
Oooooohhh and now on top mmmm lovely ;)) what an absolute fool
****ed I missed that. He got what he deserves.
lovely big £172K buy at the bell there... bodes well
Bubble, please stop the bollix....it's monotonous! How old are ye?
Code 1 trade after bell ONWARDS AND UPWARDS GLA
What did you think of eubanks getting kO'd ? I was very pleased.
*makes hissing noise*
seanhunter, Quady didn't like Quibbles, he was just like him apart from the fact Quibbles was entertaining, courteous and interesting. In short, a threat.
No offence Quady.
He was banned because you went running to Admin Slug. Never had you down as a grass. Not the type of thing we do up here in Glasgow.
Q if you decide to sell your house because you have financial difficulties but until the sale happens you max out your credit card doesn't mean you do not plan or have to sell the house. The royalty and the stake sale do not mean we can go to production. Not even close.
Quady I'll tell you this:
1) Quibbles genuinely spoke highly of you.
2) The fight between Quibbles and Slug that resulted in Quibbles being banned and erased started because Quibbles would not allow Slug to hijack his comments and twist them into an attack on you.
Whatever his points and disgreements, he was always respectful of other posters, something I know i have fallen short of in recent weeks.
Seanhunter you make me laugh.
Quibbles points you listsed.
1=) I think Quibbles is wrong on this point as value will be attributed as we proceed.
2=) You call the diverse book silly and agree with quibbles point, but what you have explained is the diverse book theory only very clumsily.
3=) The merger with CGP was about bringing ENSA under one roof and allowing Solgold to advance Cascabel as directed in the Strategic review. By the way why do you think we took a 0.6% royalty for Cascabel if we were getting a bid.
That would make no sense, but if we were proceeding to production it makes complete sense. Let's await the strategic review.
4=) Agreed with this part, the current cash pile can only be used for Cascabel so we are using it to advance Cascabel further on to production. What else can it be used for ?
Red, I most certainly hope so ! :)
The other issue with Quibbles' theory was that he was unable to explain away the Nick Mather comments at Noosa last year, or the comments Mather made in one of the DGR RNS (I think it was on the Osisko funding). Unless Mather has been telling bare-faced porkies, he is in alignment with the fast and smart strategy as set out by Sangha and co to monetize the asset.
If he performs a volte-face and is in fact set on seeing this through to first ore, any final ounce of credibility SOLG had will be gone and I'll be selling up at a loss.
I agree with you though Sean that he shouldn't have been banned from this BB.
Thats exactly what they are doing Richr...
Merger complete...first bid incoming...
Cheers
Sean, much of the ‘power’ to determine where this share ultimately goes, lies with our directors. They could facilitate some form of sale tomorrow if it suited them ? We’ve seen a lifestyle situation enduring for years now - directors earning fat salaries while shareholders lose value.
I for one would like to see our company acting to maximise shareholder value. Just my opinion of course ….
sean, the problem I had is that I just don't like pompous braggarts...they remind me too much of my late father-in-law.
PS I am not a Quadite