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Sharket
It's one of the questions I have submitted for today's webinar ..... might well get swerved, but it'd be nice to put it to bed for once and for all.
Good morning to you copper, you have the right attitude, enjoy the fishing.
:)
OK, let's assume that there was no attempted fundraise. Let's now answer the following questions, to which I'm not pushing anyone in any direction:
1.) Why did the company consult major shareholders early in the summer if it wasn't raising funds?
2.) is there a precedent over the last 5 years for SolGold letting treasury fall below $15m (this happens within 4 weeks)?
3.) With the AGM coming into view and the potential for further management upheaval, do you think it's feasible that the company now approaches the market, should no other option be agreeable?
I'm sure Citi are thrilled with this rather meek bid defence. It's not the bid defence that long term investors deserve, a bid defence built upon efficient use of cash reserves, of regular high impact catalysts (one small scale PFS and a couple of MREs in 18 months doesn't really make the grade). The board should be working doubly hard to make sure the SolGold story is still one of the best in town but they're doing the opposite.
As for Berry Street and their worth - I have no affinity for them but to say they are not worth airplay wouldn't be absolutely fair. They are, after all, an FCA authorised firm and therefore can't just publish any old tosh to meet their own needs. They're a regulated firm and must adhere to UK regulations at all times.
Sorry g's wrong board
Guys ill help you out
His mobile is 07634...actually sorry its 00000000000 same as all of your bank balances hahahahahaha
Hsi address is The Insolvency
16th Floor, 1 Westfield Ave, London E20 1HZ
Hahahaha ahahabahahahaha
Millionaires on this baord
Fantstic discovery will jump tenfold when the markets ope
Hi SharketMare, in all honesty I can't explain why any of your four questions happened. I've no idea in all fairness. I guess you don't either.....or you wouldn't be asking the questions! I don't believe there was a failed fund raise, I think the feelers were out, but nothing came of it. I think the company thought there were better deals to be had. Maybe I'm wrong? Who knows? We are all speculating until news arrives, if I'm wrong in thinking that it wasn't a "failed fund raise" then I'll hold my hands up.
I also genuinely think Solgold will be involved in production, if I'm wrong so be it. I'm entitled to my opinion as much as the next person! Everyone gets into squabbles instead of waiting for news from the horses mouth. Have a good day matey....I'm out fishing for the day. Hopefully bag some nice mackerel before they move on for winter.
obvious answers herewith
1. Our CFO resigned (frustrated that company being dictated to by BHP/NCM so left)
2. The AFR wrote about our fundraising attempt that we had to pull (it's a media story what do you expect?)
3. Berry St publicly criticised the attempt (sorry, but these guys are no bodies and not worth airplay)
4. Our SP is now around 30% lower since that RNS was published (the sp would be lower regardless of that RNS as always deflates on no news and market woes, but agree clearly aided by those that decided to jump off the train in expectation of a cheap fund raise. They might regret it if fundraise comes in a different form and are left behind after waiting years and year for the end game)
This has been done to death, but if you really dont believe we failed to raise funds in the way we wanted to copperpot, can you explain why:
1. Our CFO resigned
2. The AFR wrote about our fundraising attempt that we had to pull
3. Berry St publicly criticised the attempt
4. Our SP is now around 30% lower since that RNS was published
I will be asking Darryl directly next time we have the opportunity whether the resignation of Ayten Saridas was in any way related to the fundraising attempt. Let's see DC try and play that with a straight bat.
Thank you Copperpot. Understand, I got tired of it myself. I have known for sometime that some of the so called experts on here are nothing of the sort.
Their knowledge is too hit and miss.
All the best.
Well Quady, fair play to you. You have been saying all along that there was no failed fund raise!
I did agree with ye by the way buddy, I just couldn't be bothered getting into the childish squabbles.
Hey ship. That isn’t but looks like something we drafted up for a brokers investment club. Consensus was how much do we need to run this for a few months
This pump and dump changes every time a new brokerage house takes a position.
Shipright
Hopefully now people will stop posting their I’ll informed/imaginary going’s on
This so called failed fund raise should be put to bed, as I posted a while back regarding that RNS, it never took place, it was a discussion with the majors
We await the next storyteller
Rats, Ship, etc...
Rcgl, absolutely! That always happens when things are going well.
Floated a couple of proposals, knocked a few ideas around, the head of funding and the new CFO both resigned... We cool.
Shipright, firstly thank you for onward sharing.
Second, "This RNS was announced at the time to clarify to the market that the Company had engaged with investors about potential funding but did not proceed as we didn’t think it was in the best interests of the company compared to other funding options available. " is open to much interpretation. I have never doubted SOLG's ability to raise cash, what I am struggling with is raising cash in a way that placates the interests of all major shareholders.
Over to you DC to deliver.
Looks like Jason Ward Ward is onto a good project in South Dakota with Iris Metals. Another 10 bagger there in the last 3 months.
Interesting that admin is able to remove things at the weekend now. Maybe that explains something.
More importantly this is the body of the earlier, removed, post.
I'm not in anyway inferring it comes from the company. I received this from a friend
First let me thank you for your email and for your ongoing support as a long-term investor.
With regard to your query on funding, let me first draw your attention to the RNS dated 28 July, and in particular this part: “SolGold is investigating a number of strategic initiatives to provide the Company with funding options for the development of Cascabel and progression of regional projects. SolGold continues to consider, and has had discussions with its major shareholders regarding possible financing structures and options to obtain funding to further progress the Cascabel development, including a potential equity raise.” This RNS was announced at the time to clarify to the market that the Company had engaged with investors about potential funding but did not proceed as we didn’t think it was in the best interests of the company compared to other funding options available. We are progressing different funding alternatives and we are very confident that we will meet our funding needs and deliver on the upcoming catalysts that include the Cascabel PFS Addendum and Porvenir PEA. I hope this clarifies things for you.
I understand the frustration and concern that you and other shareholders have shared with the Company on the subject of funding. While I cannot point to any specifics, I would like to reiterate our confidence that we will meet our funding needs and I hope this provides you with some comfort. As soon as we are in a position to announce anything we of course will without delay.
Thanks for your patience and ongoing support.
https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/when-will-copper-go-up/
Posted on the glen board
https://www.elcomercio.com/actualidad/negocios/exportacion-concentrados-cobre-julio-monto.html
Copper exports up 75% year on year
“Three mining concessions plan to start operating in 2025. These are: Loma Larga, in Azuay; La Plata, in Cotopaxi, and Curipamba, in Bolívar. It is estimated that these mines have gold, silver and copper. In addition, Cascabel, Warintza and Mirador Norte can continue with their processes.
Ecuador is the least explored country in the region, according to official data. The level of use of resources would only reach 10%. That is why it is calculated that the dimension of the minerals would be greater than that of the data that is currently known”
Looks like it’s the way forward
Darren - agree that this is time for strong leadership.
We had our last piece of business related news on 28 July. That means we're about due an update, even if it's a state of little to no change.
Markets are teetering. The share price is weak. Now is the time where a bit of communication and maybe some open market buys wouldn't go amiss. The market picks up on those signals and fresh impetus is likely to be a good thing.
Same applies if there's nothing positive to say. Still go on and say it. Shareholders want honesty and openness.
Evening all. I appeal to the captain of this ship to explain where we are going and more to the point how we are going to get there, before there is a complete mutiny! He talks a good talk, but I for one have yet to see him walk the walk!!! He as CEO will ultimately influence where and how. He has to save this wayward ship! A very frustrated crew member!! GLA DK