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Absolutely, SharketMare.
I'm similarly dismayed by RK1s view. Maybe we should all sit here telling each other everything is hunky dory and we're well on the road to riches...
"Unless you're prepared to reveal your true position and intent on here, stop trashing the share price..."
RK, I'd expect better from you. No one on this BB is 'trashing the share price'.
I assume that Bozi's position is similar to mine. I hold stock, I'm underwater, I'm concerned about the direction of travel. I'm not going to sell as I'm sitting on a loss, but I'm not going to add to my position while the funding issue remains. A bid could come in between now and the AGM which would be a great results for all shareholders here.
Just my observation, bozi comes across as a fair poster who doesn't seem to have an agenda but says things as he sees them. Can't fault him for that.
Bozi
Unless you're prepared to reveal your true position and intent on here, stop trashing the share price...
And Jezzoo...there is nio chance of insolvency:
"Insolvency is a term for when an individual or company can no longer meet their financial obligations to lenders as debts become due."
There are any number of ways to avoid that, such as stretching creditors, short term borrowing from the bank, a modest cash raise, selling off assets (e.g. a stake in Cascabel); streaming deals; etc.
Now it may not be exactly propitious to raise funds right now, but there is a price for everything with a company that has the undeveloped resources we have.
If Solgold was that desperate it could even approach BHP directly and see what price they would pay for the shares which, if it became public, would immediately trigger a bidding war...
May I repeat...this is NOT a Sirius. We have one of the most strategic and demanded metals on the planet, probably enough in all our prospects to fund any excess deman that will be created over the next few years, entirely on our own.
Sirius was trying to mine polyhalite and in the end nobody would lend them the money needed to start the mine.
If SOLG was "the hottest takeover story in town" and has repeatedly been talked up since as a takeover target by several reputable journals, you have nothing to fear except Armageddon or your own impatience and selling out too soon.
For many of us this has been a very long journey...it has required nimbleness at times, plus a steadfast belief in the ultimate payday...
I remember when ATYM hit 80p and everybody was ready to jump oiff the building...I filled my boots and sold the last at 270p...
Thats why we are now fully invested again, but if there is a modest rights issue I am confident enough to find some more threepenny bits down the back of the sofa...
Good luck all and a snovice would say...keep the faith...
PS thees no sign anywhere of Nick panicking and together with DGR etc they have lost £75 million on paper since April...
Fort - what does the average person do when they're attacked for "dropping misinformation bombs?" Hardly going to take that graciously, am I.
I hold a number of stocks, including another that you have been commenting on of late.
Good grief the ColonelDrake hasn't got both paddles in the water.
Why would Bozi or anyone else want a cheap equity raise.
We all want the best equity raise while issuing the fewest shares.
No matter what your position is.
P.S. Wholeheartedly agreed with your post last night on funding and what on earth the company have done with the $70-odd million they've raised!
CD, come off it mate. As Bozi pointed out, you have repeatedly suggested that a royalty deal was/is on the cards, despite our CEO literally saying it wasn't an option until we've published the DFS. The idea that you stick to facts and avoid speculation is one of the funniest things I've read on here this year, it's your bread and butter.
Unless you are invested in a company you are truly nervous about or anything Russian linked or need the readies, this is a good time to simply ignore price actions otherwise you will end up giving your shares away cheaply. lots of news about future commodity prices spiking between 25 to 50% within 18 months and guess what we are sitting on a shed load of copper, silver and gold with the first 2 needed in huge amounts to kick start the electrification of the new world. 2 more years should do it...
As for me I'm adding as and when
Have a great week all ;))
Oh Bozi... I see you retreat to the usual 'attack' as the best form of defence.
I'm just following the company the company like everyone else and using the material that they release as the factual position. And you call that misinformation?? Ironically... I partly agree but that's the company 'misinforming' not me.
You keep on posting the negative stuff and praying for that cheap equity raise as we all know that's what you want. But that's not what the majority of us want at all.
Are you invested in any other stocks or is SOLG your only stock investment?? Just curious?
On the contrary Bozi the PEA for Alpala underpinned the price at 10p, before that we went between 1.5 and 10 pence.
The PFS got us to 46p. However underpinned us till recently at around 22p.
I believe what we are seeing is external.
People need money, and people moving to safe havens. It's temporary in my view. Lot's of turmoil in the world, creating the uncertainty we are seeing.
Again Bozi the mining press have been talking about a Solgold takeover since hole five. That's about a decade ago.
I don't pay any attention to speculation.
I like to see what changes are occurring.
If it looks like someone is acquiring above twenty percent.
I will of course rethink my position on a possible bid.
Bozi forget ColonelDrake, he has been wrong on everything. He talks about fund raising being difficult because if the low share price.
When the fund raise comes, it will be based on a price that investors are willing to pay. NCM and BHP can of course not take part. In which case they get diluted percentage wise.
Can't see that happening.
Quady-I know you don't put any stock in the press but The Mining Journal literally stoked a takeover rumour a few weeks ago. As much a did like to agree that it's simply "in the heads of some on this forum," that isn't true.
Also, this notion of studies underpinning the price... I would suggest there is enough evidence to suggest that might not be the case. Look at what happened with the MREs, the PEA and particularly the first PFS. The stock was dumped every time.
Morning Bozi, on this I disagree. There is no takeover rumour. It only exists in the heads of some of the people on this forum. Any takeover rumour would see us increase our share price north of 40p.
I believe even when we sort out our next fund raise, we will not see a massive difference in the share price.
Hopefully a good PEA for Porvenir and the updated PFS for Alpala, will underpin our price.
However the DFS will be more positive because then we fund raise for the construction of Alpala.
This will mean we will see real value attributed to Solgold, and as the production day gets nearer, a proper step up.
And what is happening at Porvenir, Fort? Have we had any drill results lately? Any metallurgical study updates?
Not likely seeing as we potted our Mettalurgy Manager.
It is you who is responsible for misinformation my friend. It is you that has been talking about "grass roots folio JV discussions" despite SOLG giving no indication over the last 2 years that they have ever progressed anything from "talks". It is you that keeps harking on about another streaming deal despite Darryl Cazzubbo being quite clear that this wouldn't be an option before the Cascabel DFS.
There comes a time where you have to stop perpetuating the ramps and see them for that they are... precisely that.
You can find it within you to admit that you've been suckered in. I suggest you do that instead of trying to find fault with my comments and replying with weak arguments.
Tell me what isn't factual from my post FTJNY.
I refuse to be drawn into this echo chamber of positive re-enforcement you so dearly crave from other investors.
SolGold has never seen times as perilous as they are now. I refuse to shy away from that.
Bozi,
"we have zero regional activity with no prospects of this changing until further funding is secured " END
That's not quite true. You keep throwing these little negative bombs out there and it's misinformation which is not great at all.
There is regional activity albeit limited. It's called Porvenir. And as you know, SOLG are in discussions with interested parties with regard to JV deals on some of the grass root and regional projects. So more than possible that regional activity commences without any funding at all.
The lower the sp is, the less likely a fund raise. It's likely to push SOLG toward doing a different kind of deal. And quite frankly, after raising $78m+ last year on the basis of an aggressive exploration plan and then delivering virtually zero exploration but somehow burning through that cash... well... I can't see them getting more funds via the market on 'false pretences'. Investors don't like being duped.
With 60+ licence blocks with a minimum spend attached of $430m (roughly $7m) per licence... many would like to know what SOLG are doing about this great acreage??? Last year they handed back 10 licence blocks for nothing.
Lets keep it factual.
Bozi;
Your final paragraph is rings true with me, I need approx 65% uplift from the current SP to break even now, my worst performing share by far.
If it wasn't for takeover FOMO I'd have cashed at around 25p, stuck it in an oiler and gained my money back.
There will be many more like me. Something big must be happening in the background, it just doesn't make sense to just drift into insolvency after 10 years.
Pis£ing on your own door step again Bozi?
Quady, that suggests nothing has changed with the company and our price performance is purely macro related.
I don't believe this to be an honest and fair reflection.
SolGold are starting to run low on cash and capital markets aren't exactly conducive to large fundraises right now. Combine this with the fact that we have zero regional activity with no prospects of this changing until further funding is secured and we therefore have very little in the way of operational catalysts.
This serves to basically suck any hot/trader money out of the market.
The only thing that is keeping most of the long termers interested is the potential that BHP or another makes an offer for the company.
Without that lingering whiff of takeover potential we'd be sinking towards single figures now. No doubt about it as the SOLG investment case today is quite weak.
Ok this link cannot be copied, what it is about is 1.9 billion withdrawn from UK equities in August and it doesn't look like it's getting any better.
What people largely forget is although pension companies and funds hold large amounts of shares in companies.
That this is not true for companies like Solgold.
We have a large private investor base.
People require money with the cost of living crisis and indeed rising inflation.
I believe that the story below may explain our current share price.
https://www-thisismoney-co-uk.cdn.ampproject.org/v/s/www.thisismoney.co.uk/money/markets/article-11181269/amp/UK-investors-pull-record-1-9bn-equity-funds-August.html?amp_gsa=1&_js_v=a9&usqp=mq331AQIKAGwASCAAgM%3D#amp_tf=From%20%251%24s&aoh=16625332306340&csi=0&referrer=https%3A%2F%2Fwww.google.com&share=https%3A%2F%2Fwww.thisismoney.co.uk%2Fmoney%2Fmarkets%2Farticle-11181269%2FUK-investors-pull-record-1-9bn-equity-funds-August.html
We need to be aware of developments like this ,but, as we've been told on a number of occasions, no such rulings apply to our concessions.