Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Evening Ray
You gonna buy back or watch for a bit ?
Well done quady for calling the sp up today..
Wow who'd have thought DC was ultimately a mole put in charge of SOLG by BHP to keep the price down Lolzzz, never !
The Normal Market Size (NMS) in Solgold is 30,000
I've been firmly bid for 200,000 all day...currently at 17.59...
Be great if we could somehow close in the 18s on a day we lost a CEO...
No ducks there RK !!! but plenty here all lined up and ready to go !!!
17.64 paid …. High of the day so far
Hope we can hold on to some gains for once
Anyone seen Ray?
https://www.kitco.com/commentaries/2022-11-09/Silver-joining-copper-in-upcoming-supply-crunch.html
"Goldman Sachs is forecasting the LME copper price to more than double from its current level, to $15,000 a ton in 2025. Let's step back here and remember the incentive price to make mining copper attractive is US$9,000 a ton — copper is trading currently at ~$7,000/t.
Copper will have to rise from its current price of US$3.63 to a minimum $4.50/lb to incentivize miners to build mines.
I'll leave you with this. According to Adamas Intelligence's State of Charge report, EV registrations rose by 42% in the first half of 2022, compared to the same period last year. This amounts to 6.23 million units, up from 4.4 million in H1, 2021. For round numbers, let's just say that electrification is growing at 2 million units a year. How much copper and silver will be needed for that level of demand? And remember, the mining industry still needs to mine enough silver and copper for all the other industrial, and in silver's case, monetary uses.
The soaring demand for both, matched against each's coming supply crunch, all but guarantees that prices are moving higher."
Hales & Butler score highest stand ever in international T20 by any team...
Is this a dream?? SOLG going to be put up for sale and ENG beat India by 10 wickets with overs to spare.
Xmas come early.
Good afternoon Mikrtrix.
I am not CEO material, but to answer your question I am happy with the 0.6% royalty for 50 million.
As it doesn't stop us running out of money, it takes us to DFS.
I suspect we may still take the CGP 30 million loan for exploration.
First Step - Friendly Merger with Cornerstone - COMPLETE, Second Step - Raise US$50 million in non-dilutive financing - COMPLETE, Third Step - Realize full value for SolGold Shareholders - IN PROGRESS. Impressive positive progress, congrats!
I see... well Mr Irwin needs to walk before he runs as I'm still awaiting their merger egm notice.
They best crack on as they all appear to be either on the board, or doing deals related like Maxit and as of yet, the merger hasn't even gone to a vote.
That's a lot of speedy action being deployed and I think the market would like to see some official box ticking and signing done before rerating.
They've had over a month now. What they waiting for?? A bid? lol!
Makes for a very interesting SR, doesn't it?
What are they going to talk about and how will they word it: Onwards to production or Up for Sale?
Z
Fortissimo
Third step
https://twitter.com/bigdude6669/status/1589558410294722560?s=46&t=q4SGBnecDOT0VqnuIFrqKQ
It's going to be interesting to see how the timeframes work out with CGP merger EGM and SOLG's AGM. We know the latter is Dec 22nd I think so resolutions and AGM notice must be due out next week I think. At present CGP have 6.7% voting power. But after the CGP EGM, they have 20% voting power and BHP and NCM slip to near 10%. So that would be a swing of -7% for are big two and a gain of 12.3% for CGP. That's a full 20% gain in power or votes. That's going to make any AGM resolutions a shoe in. So my view is that they have to get the merger sorted before Dec 22nd.
Lots to do! And plenty of news to follow by looks of it.
3 Steps
"First Step - Friendly Merger with Cornerstone - COMPLETE,
Second Step - Raise US$50 million in non-dilutive financing - COMPLETE
Third Step - Realize full value for SolGold Shareholders - IN PROGRESS"
https://twitter.com/bigdude6669/status/1589558410294722560
very funny DBW!
I think step 3 means CGP merger / egm.
Basically everything has to be in place before they stick that merger deal to vote as they want maximum take up.
I’m assuming step 3 means production? :)
Strange , could we get more news today.
More from Irwin
"I have known Scott Caldwell for a lot of years. He has the skills and I believe he will do the right things for SolGold shareholders. He has been on the SolGold board before, so knows the challenges SolGold faces. Onwards to Step #3"
https://twitter.com/bigdude6669/status/1590724225798901766
Fort, I’m not complaining about those guys getting the keys.. just an observation of the turnaround in their perceived importance..
I am actually quite happy the guys that have screamed they wanted to monetise for years, are now in control..
So of you were CEO Quady what option would you have taken to avoid running out of funds early 2023?
Genuine question.
Ortherncopper,
The chap stepping in on an interim basis has 17m shares.
Unless you know of someone else that has that much skin the game and is not going to upset Mather or CGP... please let us all know.
Markets like it when the main players have skin in the game. It means their interests tend to align with shareholders and I mean all shareholders rather than the ons described by NCM.... long term shareholders lol!
CGP and SOLG have merged or will be. As far as I can see, the BoD's have a fair mix between them. Hardly all CGP is it!!?
Bit part
In just a few weeks we have gone from CGP being viewed as the big part player, the annoying ginger haired stepchild, to a friendly merger with them, their guys on our board, to then handing said guys the keys to the shop…. And essentially saying, Turn the lights off when you are done guys… best of luck.
Quite incredible