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Well said.
:)
OK Folks I stand corrected
It's a cashbox placing.............
[if I may however whilst i know SLOG have used the "cashbox" terminology, it remains the fact that it is a placing albeit a limited less restrictive one]
atb
and thanks for the correction(s) - every day is a skool day...........
r's
BN.c
R's
BN.c
That's fair enough LunchMoney.
Good grief ColonelDrake what rubbish, it's after the BFS that funding is easier as we have options and interested parties. And yes we can fund up to BFS, don't you read anything.
redknight1,
Alpala is a streamers dream. The mix of PM's is exactly what they are after as it gives them options compared to say a 90% copper concentrate. That's why we heard of Franco's interest to fund $1bln or perhaps $750m between Boliden and Franco. I've not supported the idea of SOLG financing this project with or without royalty taps, I just think it's too big a call and yes an equity component would be required at some juncture but that's post DFS and too far out to worry about right now but will certainly play in the minds of those funding the here and now and the next 6 to 12 months. This is what I was saying a while back. It's harder too fund now as all involved know it's a black hole ahead of DFS.
It's time to sell and all know it. Lets get it done!
Good grief someone tell ColonelDrake there was no failed funding. We know that now.
DGR = NM...simples...
If I'm right, a cash box bypasses the pre-emption rights inherent in a 'plain vanilla' placing?
Thereby allowing the exclusion of, e.g. BHP and Newcrest...
Please correct me if I'm wrong...?
Spare us the semantics pls.
Twigger hit nail on head prior to last AGM... it's time for BHP and NCM to put up or shut up. Stop trying to 'control' SOLG.
Now if DGR are retweeting the battle between NCM and BHP then I think we now know that all is not well between these two and the failed funding may well have more to do with these two not agreeing.
CGP quiet as a mouse says to me that that they know this is coming to an end soon... the end they wanted... that ends with a payout. They would be spitting bullets now if not.
To my mind there's a very good reason why Alpala will never get to production and that is...
They have to raise a couple of billion dollars; some of that has to be debt/convertibles. Banks always want their pound of flesh in such financing...they demand shareholders have 'skin in the game'
So who will put up the equity element...?
If another major player is hungry enough we have a battle
If BHP/NCM pit up the lot or a large part of it its game over, so...
Why would any of the would be buyers let it get that far...I still say SOLG will get at least one bid by Christmas...
RK
Because a placing is a placing is a placing................always been known as that since I've been investing/trading so lets call a spade an effin spade shale we & not dress it up as anything other - raise funds by issuing shares in the co via a placing........
Giving a Big Major a kick in the Gajoules !!! Rio buyout offer kicked into touch as being too derisory!!!
GLA LH SOLG can do the same , when? If? the offers start to come in
Bozi, because in these situations it's a game of cat and mouse. And as I have said many times before, if BHP and NCM talk cooperatively with SOLG then they may well secure Alpala from a counter bid situation which could see them both lose out completely. Their toe in the door enables them to seek some kind of deal as I'm guessing both are worried that SOLG might just do that... put it out to auction and then the toe in the door is pretty worthless as 27% combined or 13.6% on it's own is not going to carry much weight in a bid war with someone like Rio, Codelco, Barrick et all.
No rush... we are only 2 weeks on from when the starter gun was fired (the big two have shown their hand to some extent) and perhaps SOLG 'tested' it as they knew what was or is coming. All involved know exactly how this plays out.
Why do you always have to stir it up Colonel...?
You often post some good stuff but then you let yourself down by laying into well meaning posters who just happen across something you don't agree with...
Here's the quote again...
"BHP and Newcrest were apparently unwilling to invest again"
And here's the article it came from
https://www.afr.com/rear-window/s-all-not-well-at-solgold-20220814-p5b9p0
BNC what's the point of saying that...its a special kind of placing...even SOLG called it a cash box last time...
https://www.dacbeachcroft.com/en/gb/articles/2020/may/what-is-a-cash-box-placing/
Fortissimo
Maybe the pertinent question is why haven't they announced that?
ColonelDrake you still don't understand BHP doesn't want to bid. It would end up paying more than it wanted to.
SOLG should just announce that along side exploring various funding options and structures they are also opening the data room to prospective buyers or partners etc etc etc which might end in a sale of the business or a asset etc etc.
Then see how BHP and NCM like those apples.
I said a while back that it's ironic that if NCM and BHP indeed want to bid on SOLG, why would they want to invest money so SOLG can deliver a better PFS2 and porvenir PEA. It's self destructive. Far more to be gained by them if they try and prevent SOLG from raising funds and thus weakening the business. This is an all out attack. The reality is, SOLG only needed enough cash to get through to the AGM.... because after that it's game over for quite a few board members and that includes their nice bonuses.
NCM and BHP and steering SOLG into a corner as time and cash burn is against them. One victory would be raise cash via royalty, but then that's pointless for some if it means they are toast come Dec AGM. See the dilemma for management? What's the point of extending SOLG's future if you're simply giving more equity to your predators/enemies and in process actually likely to weaken the BoD's.
It's Twiggers job to get heads together and not Darryl's or Mathers. Twigger is supposed to be the one that delivers the balance. We've heard very little from him since his volley to BHP last year.
Precisely, look what ggp have gone through tells its own story. NCM will definitely not be bidding for solg at least not for the foreseeable.
Quite possible smickster, the point is we can raise the money for DFS and BFS. We have had no failed fund raise. ( that has been confirmed now )
Also we can fund the construction of Alpala.
The strange thing here is Redknight was supposed to be something in cooperate finance, and he knows nothing about how money is raised apart from searches on google.
I worked him out ages ago.
A lot of green boxes, I assume I'm being gaslighted again for my opinion again, it wasn't me who wrote that article !
Lol BnC
Course they are Schlem.
The only difference is that they've done the vast majority of the graft at Havieron over the last 2 or 3 years so it's as unsatisfactory as it is it is tk be expected.
They've done bugger all here though since they pulled Craig Jones from the board, apart from buy a few new shares here and there.
They've muscled in on their tier 1 asset. They should support the other fairly.
Thanks Quady,
Cashbox and Boliden/Franco top ups it is then.
Onwards we march solg.