Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Scotland?
At last... was beginning to worry TSX rules and regs approvals were going to drift on.
So AGM very much as you were last year apart from we have CGP 6.3% (reduced after share issue on Dec 9th) and Chinese holding of 6.3% You'd think that extra 12.6% would see them through. I imagine Maxit et al know exactly what they need vote wise.
Copper, remind me, which group is Ireland in?
covgaz, sometimes you can only play as well as the opposition allow and USA were far more energetic and dealt with majority of tricky situations brilliantly. A dull performance agreed, but credit goes to USA who hustled and bustled ENG into doing very little. I'd rather see that performance in the second group game than in last 16 or quarters! Get it out of the system.
Well.......the Guinness is flowing here tonight!
Wonder why? The empire no more!
So there we go , the good news is the Taffs are just about out , the bad news is England are so ****e there is no way can they win this . How could they possibly beat Brazil on that showing?
As expected, England perform in spasms , not when expected.
Cornerstone special meeting January 9th..
Latest from Irwin
“Read the press releases and you will know what is going on. All the steps are pretty clear what SolGold is working towards. Gone are the fantasies of building a firm bigger than BHP.”
England so negative , like watching the paint dry. The worst game so far in this tournament.
Well he doesn't owe anybody anything, he's just a guy tweeting about the situation like you and me. I would suggest he has been generous and accurate in his (legally) limited commentary, offered take-it-or-leave-it.
irwin distancibmng himself from the 78p forecast.
"Nice side step ;) ok, let me rephrase if it helps… would you be surprised / disappointed if Solgold stepped down from their 78p+ indication of fair value expectations (recent presentations)? Thanks
irwin
"You mean the prognostications that were made by people who are no longer with the company right?"
RK …. Totally agree this is 100% T/O any IPO, if it happens, will be after the event
I've countered your case.
We'll never agree.
It would have been a good idea a year or two ago and indeed I suggested to Ingo that they should IPO Porvenir...
But in the current fraught cis=rcumstances and people's desperate want for monetisation it would take far too long and the SP woould fall further during the process.
Look how long its already taken to try and put the merger to bed...7 weeks and counting...and still nothing announced
I didn't say shareholders were taking a gamble. I said nobody from BHP down to me wants unlisted shares.
Please detail your current relevant experience. And show me where I don't understand current corporate law and corporate finance.
Meanwhile, here is the source you asked for under the heading "Taxes"
https://www.dentons.com/en/insights/newsletters/2022/january/17/dentons-global-mining-guide/dentons-global-mining-guide-2022/ecuador
Its not a "free roll of the dice"
We have an Interim CEO and CFO. We have half a Board. We have no Director of Corporate Finance.
Have you any idea how much it costs in time and money to do what you propose.
I prepared an IPO and it cost us £14 miliion and took a total of 18 months.
And its not 'free' when the portfolio you are talking about is conservatively valued at $150m by the Company Brokers.
Nor is it free if you IPO at a value of "£20-30m" and your Ecuadorian taxes are £29 million...
That’s a fair point Bozi considering I only assign a nominal value to the regionals… the difference would be negligible.
You could easily argue that investing in exploration companies is essentially all about those ifs… and maybe whens…. and you would be right. But I didn’t invest in this one until after the Cascabel discovery… and I just want an exit due to investor fatigue and disappointment.
For what it’s worth, I’d love Reds multiple players bid scenario to play out… we will all make great money, I just don’t believe.
The failure to deliver the PFS and Porv PEA stinks to them simply not stacking up as hoped to me, so they have been buried.
Red - I do have experience. Relevant current experience. You have historic experience as we've all been reminded for the hundredth time.
As I've said two or three times this afternoon, there is no transfer between limited companies. A demerger will be achievable by adjusting the SolGold corporate structure.
I'll ask you again. Please can you show me some Ecuadorian legislation to substantiate your statements? I also implore you once again to review the Atlantic Lithium transaction.
Besides, why are you getting so hung up about tax. Are you endorsing not taking a value accretive path because there may be a possible tax liability. How ridiculous.
Your ISA issue is admittedly more of a sticking point for you personally.
Shareholders aren't taking a gamble on an unlisted stock. They're early investors in a company that would be brought to market with a respectable porphyry discovery.
Look Red, we won't agree, but thanks for the discussion.
I'm sorry Bozi, but thats just your opinion.
I have put up facts and practicalities and you just think I'm being awkward.
Why don't you summarise my key points and show me where I'm wrong?
You can't just shrug your shoulders when you've been so adamant on a hypothetical situation.
Yes me saying there will be a takeover bid(s) is an opinion but its supported by all the key players who are actually in the know.
Why do you think the decks have been completely cleared...?
How does your idea fit with the decision to suspend everything except the Cascabel DFS (timed for December 2023)...?
Orthern - that's fine.
All I'm trying to say is that the difference between a full SOLG sale and a sale of just Cascabel will likely be negligible, so spinning the regionals out is effectively another free roll of the dice with very little risk.
It shouldn't harm the return we get from Cascabel in theory at least.
You're entitled to your view of course. I just must disagree with it.
So in answer to your question:
I've voted for everything and everyone, especially Nick but against Twigger and Clare
What a condescending clown Redknight is.
He has switched positions so many times with Solgold without any evidence.
Now he is telling everyone what the tax situation in Ecuador is without looking it up.
Give it a rest Coco.
Are you finding this interesting DBW?
You're with me on a takeover aren't you?
Have you got any experience to back up your categorical statements?
Have you actually done what you're talking about? I have.
I'm also a Chartered Accountant and have been FD of a major Financial Services company.
(Sorry everyone else).
I'm talking about paying tax in Ecuador, where the licences and the operations are.
Not Corporation Tax on SOLG profits.
And even in the UK: "Assets can be transferred between two separate limited companies but it should be noted that Capital Gains Tax (CGT) will be payable by the recipient company if the assets are transferred free of charge or below the fair market price."
Now you say Newco could be spun off into a company that would IPO for £20/30m.
I say again. Why would SOLG shareholders take shares in an unquoted company and gamble on a successful IPO?
Would you? I wouldn't, especially because my SOLG shares are in an ISA and Newco wouldn't qualify. Furthermore the only way I could sell them would be back to Newco.
meanwhile, you clearly haven't read the latest Brokers report which puts a value of $150 million on the regional portfolio.
You see you're making the same mistake as Quady. You have a good idea and therefore it must be right and you have to find a way to justify it.
I'm simply responding with the facts and the practicalities.
CGP and Mather now have an armlock on SOLG. There is no way they would go for yoru scheme with delayed rewards when a successful takeover brings them maybe a 5 bagger or more, within weeks or a few months.
And if it was me I would approach the bidder to buy the regional portfolio and put it in a Newco then or even the DGR stable.
I can follow the logic of what you explain Bozi. The only negative in that route for me, is the large amount of ifs involved.
There are no guarantees of finding any more large mineable deposits…. I prefer to be on the more realistic/cautious side, compared to many when it comes to presuming future discoveries.. But there are absolute guarantees of hundreds of millions of spending commitments.
I’ll take my swifter, lower exit point and move on.
Orthern
If the regional assets stay in SOLG and SOLG is sold whole then they carry no value unless an auction happens and things get tasty.
You yourself appear to not like the chances of this and I'm along your line of thinking.
If they get spun out I think you could IPO the company for £20-30m, probably next summer. Small change. It would like a new explorer being born in the junior markets with a mature cow being carted off to the slaughterhouse, to excuse the anomaly.
The value then grows as NewCo PEAs and PFS' Porvenir and more so if they make a new significant discovery at Helipuerto or the likes of.
Then depending on how things are looking, you can then spin the regionals out again and just sell a mature Porvenir, or you can explore developing Porvenir, obviously with the same arguments taking place that we've had about SOLG.
Porvenir will hopefully be a friendlier asset to develop though given it is from surface.
Just one last point. Look at Solaris. Worth considering why they have done the very same thing with Warintza. Why?
Because it's the best way to value creation. That's right Red.