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The fact they have not shouted any of the drill results should tell you all you need to know.... They are clearly not sitting on great news. They never have done.
You may be right addicknt, as I said the diverse book has changed, and it could be that a bid for ENSA will happen.
But only if we get what we want.
However a bid for Solgold is even more unlikely than it was before again because of the diverse book.
Q, I speculated the other day that BHP may have suggested we do this in order to clear the decks prior to a bid from them. Of course, this doesn't sit well with the fact that Citi will be taking this to multiple potential bidders, but they may have been persuaded it was necessary regardless of who bids for us.
I remember not so long ago that people were speculating about BHP buying CGP and making a bid for Solgold.
We now CGP and we will have their shares in treasury, so with NM's various shares and treasury shares Solgold now has about the same shares as BHP and NCM together.
Dbw, I agree and said as much on here previously - that if we were to get the market to appreciate the 2 updates properly, we'd have to have secured funding for the mid term. I am now guessing that after the "unsuccessful equity rise" (as it was described in Mining.com last week, https://www.mining.com/solgold-becomes-sole-owner-of-cascabel-with-cornerstone-buy/) that Darryl has focused on getting the friendly merger out of the way.
This presents a different proposition altogether to prospective investors, as they'll be buying into 100% of ENSA, and without a difficult relationship with a junior partner/investor to navigate.
So perhaps now he'll get a raise away quickly and then release the updates. Who knows!
Sharket
Any news on addendum or MRE2 would be largely wasted without clearing up funding issues
Would like to know how Moran is shaping up as well
Quady - I mean news on one of the two items you mention below. The Porvenir PEA and the revised PFS. Or perhaps funding.
I think we have the news.
We have consolidated ENSA.
We await the PFS for Alpala
We await the PEA for Porvenir.
We head towards the DFS.
We had funding options open before, now with 100% owned Alpala are options have increased.
Keeping a close eye on where this closes today. Given our moderately precarious position, I would not be surprised to see news tomorrow morning ahead of the presentation. I think this is the first time Darryl has faced investor questions for some time. It seems the jury is still somewhat out on whether or not the merger is good for SOLG shareholders (judging by mixed sentiment on here). Having another piece of good news to point to would certainly take the edge off what could be a difficult session!
In fairness who hasn't capitalised £4m of unauthorised expenses!?!
Just for ease, you can register for the presentation tomorrow at this link below:
https://www.investormeetcompany.com/solgold-plc/register-investor
Was buried away in the merger RNS. Think given all that is going on this one isn't one we can afford to miss. I assume Darryl will have been rehearsing a new version of the schpiel given the taking Cascabel to production cr*p no longer holds any water.
I see addicknt, thanks for the clarification.
Jezzoo, it was described as the capitalization of unauthorised expenses. It wasn't a "mistake".
the said accountant now has nice new villa in Marbella?
Ortherncopper;
I thought I read somewhere they explained the missing $4m dollars as some kind of accounting error ?
RK, I don't have a view - I was merely posing the question. I don't know if they've signed something saying they won't attempt to renegotiate, or not. Do you know?
DBW, Yes agree with the counterview. My view is that this deal happened despite Nick. He had to agree to it because there was no other viable option after all the mishaps.
Which way do you want to do it add...?
At 15 for 1 on a SP of 16.2p, CGP should be at $3.74 (cf $3.25) or...
At a SP of $3.25, SOLG should be at 14.1p...
Which way do you want it...?
JM touché
In the same way if he can’t take the credit for the recent merger you can lay the blame for the CFO fiasco at his doorstep
It’s ok for us to disagree and in fact leads to a decent debate.
Anyone noticed the lack of insults flying around on here today…. Hmm ??
Since the deal was announced CGP has become more valuable whilst we have declined in value. I wonder if the CGP directors will want to renegotiate the terms i.e the number of SOLG shares exchanged for theirs.
CPG shareholders seem to get all the gravy though, and always land on their feet.
With SOLG we at least know now that none of them give a damn for the poor bloody infantry.
MF since June we have massively underperformed peers and the mining market. massively. I hope you are right and he fixes it but again you give him the benefit of the doubt for the positives but the negatives are someone else's fault.
JMI,
Rather be with Nick who has fought hard and won’t give in to the so called big boys, they have played all the dirty books in the trade to make life hard for Solgold imo.
He isn’t the CEO now is he, markets crashing and you wonder why the share is down???
Anyway busy day ahead
DBW/MF, being aligned is not does not mean he has been a bad manager. You cannot give him the benefit for doing this deal and at the same time ignore where the share price is under his watch. I am not an apologist for BHP obviously they will make sure their interest are considered. Just saying Nick and Co. have been not great.
I think he is more aligned with pi's than anyone else.
Without him there would be no Cascabel and we wouldn't be having this conversation.
He wasn't CEO when the CFO fiasco unfolded ......Do you really think the likes of BHP want anything like a decent return for all shareholders .... he's been doing everything (Franco/Valuestone etc) in his power for years to ensure we are not simply ground into the dirt then swallowed up.