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"BHP and Newcrest were apparently unwilling to invest again, and a second raising that would circumvent pre-emption rights was ultimately seen by shareholders as not appropriate. And fair enough, it’s a £600 million company, not a Perth-based penny stock explorer, though it’s only got about $25 million left in the bank."
Wait for ColonelDrake to put the spin on it.
We're on another collision course with them, aren't we?
recent quote from Gazebo - at diggers and dealers
"“I’m not worried about getting funding through the definitive feasibility study. I’ve had multiple calls with investors. I’m not worried about it. And DFS, by the way, and the bankable feasibility study, that then opens up offtake options and funding related to that as well. So you get to that point, it opens up other options,” he said."
i posted this last couple of days.........“I’m not worried about getting funding through the definitive feasibility study. I’ve had multiple calls with investors. I’m not worried about it. And DFS, by the way, and the bankable feasibility study, that then opens up offtake options and funding related to that as well. So you get to that point, it opens up other options,” he said.
I posted this over the weekend............
Of course we can raise money if we need it
Good morning LunchMoney, I believe addicknt pointed out it was last year, so not years ago.
I believe still relevant.
Redknight has just posted about the fund raise that wasn't a fund raise.
Looks like BHP and NCM are not going to bid. In fact I feel they will be diluted in one way or another.
Has anyone got access to the full article?
If this is true the company has only one option - to sell and to do so whilst we've still got money in the bank. Mind you, both BHP and NCM know full well that a company such as ours has an endless requirement for cash and it seems odd that they've continued to support the company thus far whilst knowing more would be needed. So, what's changed?
Massive They haven't. It just shows that they want us cheap. I suspected that was the case.
I believe we will go down the offtake route to get us to the stage where a CFP is on the table and as Darryl says opens up funding to go to production.
"Looks like they've got us by the short and curlies....."
Indeed!
Looks like they've got us by the short and curlies.....
"BHP and Newcrest were apparently unwilling to invest again..."
So...no cashbox...
No rights issue...
No royalty deal...
Anyone found $20 million down the back of the sofa...?
More information has finally emerged from OZ about the failed fundraising...
https://www.afr.com/rear-window/s-all-not-well-at-solgold-20220814-p5b9p0
"The shake-up came shortly after London activist investor Berry Street Capital complained that its recent withdrawn capital raising (on which Barrenjoey and Barclays were working) had revealed “the management and the board’s lack of understanding of 1) their shareholder base and 2) the basic mechanics of capital markets”.
BHP and Newcrest were apparently unwilling to invest again, and a second raising that would circumvent pre-emption rights was ultimately seen by shareholders as not appropriate. And fair enough, it’s a £600 million company, not a Perth-based penny stock explorer, though it’s only got about $25 million left in the bank."
https://home.barclays/news/press-releases/2022/05/barclays-strengthens-strategic-partnership-with-barrenjoey-capit/
"Australia is an important part of Barclays’ strategic growth plans in Asia Pacific. Today’s announcement further strengthens its strategic partnership, by providing additional regulatory capital to support the growth in Barrenjoey’s Markets business, including the establishment of its Fixed Income Derivatives and Equity Financing platforms."
Oh dearest earthling what a character.
They stated & I quote "within months - possibly as early as June"
So technically they are not wrong............
Admittedly it's a stretchy target............but nevertheless, they're not yet actually wrong...........are they?
AROK thats daft, for those who were about in 2013. I brought in.
We used to have someone called Earthling on this forum.
I had been posting since 2012 trying to get a handle on Solgold.
I faced all types of accusations from this individual.
So when I brought in I posted my trades so those with level two could see my trades as I executed them over a number of weeks.
So I am the only verified poster on this forum.
I purchased around 1.8 million shares at that time, and have around 1.2 million left. I don't trade.
But to suggest I want to see the share price crash is really only worthy of people like BBG who is the strangest poster on here.
Reading between the lines, Q, comes across as being happy for sp decimation than otherwise ! Could be wrong but very strange notion!
Theres no smoke without fire !
ATB folks
Agreed BNC but as you know if any substance to the article, then the share price would have risen on speculation.
Hence just another article that has got it wrong over the years.
Quote
"As early as June"
It didnt say by June.
The article was published 15th of Mar this year
I was answering your 08.47 post, not your 08.56 one.
I don't disagree addicknt, and he mentioned selling DGR's stake in Solgold eventually.
So where does that leave us.
Will he sell out cheap to BHP. I don't believe he will.
Will he keep the book diverse. Absolutely, which could mean DGR may sell to another party at a large premium.
CGP may also be looking to do this.
So timing.
Well we proceed to production, so we need the DFS, and the BFS, and the CFP .
Once we start construction, this becomes a possibility.
But I think a big clue would be when we do a fund raise. If we can get a new party interested at a premium, then BHP and NCM have to stump up. However if an offtake is agreed, then that is a huge push to production, and not entertaining any bid for all the obvious reasons.
Q, the article about a BHP/NCM meeting was in either May or June of this year and it referred to the possibility of a bid from July onwards.
One day you'll realise life moves on and companies are dynamic entities in which priorities shift regularly as they respond to circumstances. You'll also realise company announcements very, very rarely give the full picture and are manipulated to suit the message they want to make public. Over the years we've seen this from our board more times than I care to remember.
I may be wrong, but I don't recall Mather using DGR pr in this way previously. Again, from memory, he's limited most of their announcements to a fairly anodyne stuff lifted from our own presentations etc. Clearly, this begs the question ; "what's happened?"
We know he wants to lift his share price, but I guess he wouldn't want to give publicity to something he knows to be false.
Something has changed around the boardroom table at Solg.
Good morning BNC, yes that was the joint bid story that proved to nothing, as bid was supposed to be in June. We are now middle of August.
Even when that story had come out NCM had announced that it was not selling it's stake and wanted to increase it's holding, should the opportunity present itself. Yes its about a year old, addicknt will point out. But no updated statement from NCM.
No LunchMoney I can't give you a time and date, as I don't remember every time and date for everything.
But for those following the Solgold story, will know this has been repeated many times by NCM.
It's like watching the Magic Roundabout....waiting for the BOINGGGG!
Sure max.
Earlier this year the two were rumoured to be working on a joint bid for SLOG according to the mining journal...........
https://www.mining-journal.com/london-to-a-brick/opinion/1428389/joint-bhp-newcrest-bid-for-solgold-%E2%80%98within-months%E2%80%9D
for info