The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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long suffering longterm investors have nothing to worry about here ........(funding issues are nothing new here)
This will pop one day and you will all be rewarded.
Solgold has a great assets it's just a matter of sitting it out .....
good luck all
BHP and NCM or one of them has a once in lifetime opportunity to pick up the phone and find some kind of deal that makes the most of the toe in the door that they have spent so long maintaining. If they simply play hard ball and cold shoulder SOLG, then they run the risk of pushing SOLG into a deal that might not involved any of them and loses the asset and their grip entirely. This is just as 'tight' now for them as it is for SOLG. An open auction or bid war would see them likely beaten out of it if going by recent M&A action. SOLG might well be pushed toward signing up with Barrick or Lundin and BHO and NCM can't do squat about it.
Talking could achieve a lot. At the moment the share price is weak and sentiment poor. But that can change in a flash. This stock could open at 40p tomorrow if a Reuters bid rumour drops into the market. That's how it's poised right now imho.
Well NCM don’t want anymore shares, they are waiting to sell to whoever, as the statement they made regarding getting out of the Americas and staying closer to home.
Old news but pertinent
https://www.bnamericas.com/en/news/Newcrest_to_Phase_Out_of_the_Americas
Oh and I should add, the reason for the share price weakness is nothing to do with a change in status of the assets, but it's more to do with that fact that the bigger wallet buyers like Norges and Blackrock et al, are now rightfully sitting on their hands awaiting SOLG's guidance on funding. Are they needed to participate or do they continue to buy in open market. That's the question they will be asking SOLG and the longer Darryl and co takes to get back to them, the longer they will sit on their hands.
And that does not bode well for the share price near term. SOLG's share price was very strong and stable a few months back while the rest of the market was in tatters and this was due to large II buyers mopping up stock ahead of the PFS.
It's the larger II buyers that move the price not piddling pi's. So what do they need to do Darryl?? Do they buy in open market or are you about to give them a 100m shares at a certain price??
The market awaits.
Berry St capital (if I recall correctly) specifically said 'NO' to doing a fund raise BEFORE the PFS. They said they wanted to see a fund raise done after the PFS. And that's exactly what SOLG did albeit a 'test' basis or larger shareholders playing games etc who knows but they listened to Berry Street and followed that strategy. To be fair most expected the sp to be 40p or 50p upon the PFS but the market backdrop, risk etc all soured pretty fast after Putin launched his Ukraine war.
So not sure Berry Street have much to complain about.
I think Berry St are aligned with Nick Mather. See their recent note on SOLG after the failed fundraise:
https://www.rns-pdf.londonstockexchange.com/rns/0991U_1-2022-7-28.pdf
They want the business sold. And they talk about a 'select group' who might be exercising control. Some speculated that was Mather, I think it's much more likely to be the majors, who certainly don't have ours and other shareholders' interests at heart.
Fort, no they are not. However, they are taken more seriously than we are and if they choose to be activist investors I'm all for it.
I don't think Berry Street are of any importance or note. They are not of much importance. How much do they hold?
As for Darryl, I believe some of his bonus share awards are based on VWAP so the lower sop suits him .... no idea how these towns on renumeration committee came up with that cracking incentive.
LunchMoney - I hear you.
I wouldn't quite agree with some shareholders or the company that we're an explorer. We're a developer-explorer right now and that's why those studies have to play a big part in what we do.
I do agree with you though that we need to see the regionals playing a part. They simply have to be part of our defence against an opportunistic approach.
Cash is obviously the big issue right now. Something will have to give somewhere. I don't know what and I don't envy Darryl having to solve that problem. Ayten clearly wanted no part of it either.
Lets see. Fingers crossed. SP starting to mirror the situation. Starting to.
I wonder if Berry Street will issue another missive? They can't be happy bunnies.
When we hit the teens it's gonna become clear to everyone that we are way oversold.
Forget the useless BoD. Think about that PFS against a 19p price tag.
Strong buy.
The reality of the guaranteed recession and its consequences is hitting all the markets….. Add to that, Citibanks prediction today of uk inflation hitting up to 18% by January, it’s not looking pretty…
We've had a decade of lining up our ducks in a row. It's time to sell the pond.
The descent of the SP is only partly self-inflicted: all miners are down. ATYM, which is perfectly sound, is almost at half the price of six months ago. It is the end of the holiday season and, come September, the heavy brigade get back to their desks - and deals. Meanwhile drilling continues. A rights issue at 10p would settle nerves. All funerals end in a p-ss up!
When DC's appointment was announced, my take was that him being an operations guy, the company was ready to line up the ducks for production and funding was given as at least pre-arranged. The SOLG story seems to have taken a different direction now and he may or may not be the strategic thinker who will resolve SOLG as an investment case where NM has not succeeded. Not too happy at the moment...
That's not like you Bozi!
Dave - exuding confidence wouldn't be that high on my list of requisite skills.
Actions speak louder than words for me and many more in these markets. As long as he can lead, garner the respect and motivate his workforce, and most importantly deliver on our targets, whatever they may be, then he's a worthy candidate for me.
Suspect that's very likely Addicknt but didn't want to say it for fear of voicing too much more displeasure!
From what I have seen and heard of DC I'm not at all impressed, does not strike me as the right guy but assume the recruitment process was thorough? He does not exude confidence, quite the opposite in fact...
Bozi, I wonder if he's waiting for for a discounted placing? It wouldn't surprise me.
Agree Addicknt, and no time like the present.
Fort, you make a good point about DC's lack of investment here.
Personally, I find it unacceptable that he hasn't spent a penny of his own cash buying shares in the market and it offers me no comfort whatsoever. The fact he's been awarded a shed load of options is equally unpalatable, particularly bearing in mind he's produced no enhanced shareholder value. He needs to lead by example and demonstrate some faith and optimism by putting his hand in his pocket.
The update on Moran was very exciting albeit early days. The fact we haven't heard anything since could be a sign that it turned out to be a promising hole but not quite the fantastic hole they were expecting. Eitherway, the company really ought to update shareholders on Moran's progress. What's the point in telling us about the drill's early signs only then to go quiet as a mouse.
Darryl must get be getting the hairdryer treatment from some of the mid to larger fund managers and investment firms. Back at 20p levels and well below previous placing levels means many are underwater which all goes to help BHP should they make a low ball bid. They'll likely position it in the same way as they did to OZ Mineral Shareholders citing the imminent danger of cash calls and equity raises etc and that they are the shining knight rising in to help Ecuador move forward with more speed than what the mis managed likes of SOLG can deliver. I just a feeling that NCM and BHP allowed SOLG to take the funding structure (inc royalty deal) to the point of almost pushing the button only then to pull the rug. They knew the effects and poor media following that would dent sentiment and help them with potentially a low ball offer. Come on Mather... lets see if you have the same mettle as Twiggy and show BHP the door. What a victory that will be should he pull it off. Darryl is just a puppet master in this game, he's not much skin involved and thus doesn't care about the pi's like Mather does. Mather and Pi's are aligned. That's why BHP and NCM are desperate to get rig of him. He's a thorn in their side.
I have just moved 97540 shares into my isa sold from my trading account took a hit to do so but worth it .
Jezzoo, cineworld had a preview of a monster on Friday and confirmed sighting by rns this morning. So yes it could be a monster. lol