Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The feeling is mutual :))
I will on my earnings here tinyray
#harmlessfool
anon I won't even trouble to reply to your post if you can't be bothered to explain the several where I have out forward my reasoning...
And how sad do you have to be to join this Board and your first post shows exactly what an idiot you are.
Please go away if you have nothing better to do...Slug or whoever...
redknight said this... So I am massively reinforced in my view that a bid will come by Christmas...but when and who will make the first move...?
yet he sold a lot of shares today hmmmm
Based on cash burn rates of past and assuming they don't do a raise or royalty deal before Dec AGM, I forecast a cash balance of $4m around first week in Dec. So based on that, if all and sundry sit on their hands until the AGM, then we'll likely see a number of BoD's voting onto the board or and being voted off. And then post Dec AGM the new looking style Bod's might be able to get through any equity raise they like. New directors being put forward to the board at the upcoming AGM might well come from NCM and BHP. You can see where this is heading. So I feel assured that Mather and co also know where this is headed and will take action (what that will be is anyones guess) in the next few weeks or couple of months at best. The noose tightens as we head into October imho.
It's possible that they might be able to deliver the PFS2 prior to November and even Porvenir PEA. In theory both would be required prior to a fund raise as they would be key catalysts and within 4 weeks of a rise is disliked by the regulators.
One last point.... if we have lost some directors from the Board... what could this mean if a 'deal' is tabled and requires the BoD's to vote on it?????
Sometimes having fewer BoD's helps some folk more than others. Ponder that one.
Pretty much agree with all of that ….. whatever “the end game” is here I’d say it’s been greatly accelerated over the last two weeks …. My guess is more by design with a sprinkling of incompetence
Sorry DBW I was otherwise engaged with Colonel Drake...
So...you said...
"Red it looks (after picking through the bones) fairly straightforward now. The BOD are all toast in December so the need to trigger a bid ( or bidding war ) before then …. The way they now chose to fund the company could easily accelerate the process.
Streaming deal would suit the market but most certainly **** off the likes of BHP & NCM….. but would it be enough to force their hand??
A cash box would introduce new investors which wouldn’t go down that well either with BHP or NCM
Game of chicken being played out for very high stakes here right now …."
Taking individual points:
Today's fiasco on top of the 28 July RNS means IMO that they are all toast in December.
I know SOLG did a cashbox before and it was successful and maybe that was the plan this time, but the stakes are much higher.
Surely BHP, NCM, BR, DGR, CGP and Norge would want a plain vanilla rights issue so as not to be diluted? Mind you it is moot where DGR, CGP and Nick would have got the cash from...so maybe Nick wasn't in favour if that was the case...?
We all know that a streaming deal is doable, especially with Boliden now involved and remember we never took up the 0.5% from FN. Although the deadline has expired you bet your life they would jump at that...
And it certainly did p*** off BHP and NCM before. NCM withdrew Craig Jones wh was reluctant to go...
In conclusion it could easily seem that all this is being engineered to flush out a bid from BHP or another major. Maybe BHP would be reluctant to move first after OZ and maybe even OZ was a diversion from their real intention to bid here. Whoever counters at OZ might well occupy a competitor for some months.
So I am massively reinforced in my view that a bid will come by Christmas...but when and who will make the first move...?
Nobody except you seems to reply to me in a parrot style except you tinyray do you have a problem with the size of your appendage lolzzz
Great to know after all these weeks of barely posting I’m still living in tinys head rent free :))
Have a great summer buddy
Oops I AM Spartacus...
But nobody expects the Spanish Inquisition...or did we have that this am...?
BTW I assume you're Colonel Drake, based on your style....
But IIIII and Spartacus....!!!
Glad to see we're friends again. Thanks for your gracious response. And your honesty.
We concur on strategy but for the time being mine is more adaptable than yours.
That is not a criticism by the way.
I totally agree your earlier post DBW
Please be good enough to tell us how many shares you hold and what your strategy is...?
I hold more than you. And my strategy is to hand them over at a significant profit upon an event which I am assuming will involve a bid/offer or auction process.
I've been very consistent with that and open that I want monetisation rather than some rather courageous attempt at self finance but understand the plan A sort of assists with the Plan B. Wouldn't want to be a sitting duck would we... or then again... perhaps we've always been a sitting duck but things keep getting in the way of the sharp shooter!
Well done on your trade. No problem with that. Certainly better than one hindsight trade on here!
Its Berry Street Capital addickt...
And in my opinion they should do what they should have done 2 weeks ago...a straightforward rights issue that will give the market comfort that they have no cash needs for many months.
As I have said before...if that was done at say 20p it would in my opinion put a floor under the SP which it would never again revisit, with Porvenir PEA, PFS2 and bid rumours ahead...
I sold 500k at 26.4p and bought back the lot for under 23p...
That in my book gives a profit of £17,500...what did you do? Stare at the headlights...?
I have always sought to be transparent. Please quote me a post where I have stated that I have sold 200k or 300k because I've 'heard something'?
So just to be completely clear so that even you can understand:
I saw the RNS on 28th July and after the market was open sold 500k.
I stated my reasons clearly. I thought there would have to be a cash raise and in anticipation of that the SP would fall.
The cash raise didn't come; I have plenty of firepower if it does, but I became increasingly concerned that there might be an opportune bid, so I gradually bought back for an average of under 23p, with my last purchase at 21.9p. You can check back my posts.
Once again this morning I read a RNS and as soon as I was able, reduced my holding because it is clear to me that they are haemhorraging cash and will have to raise...unless a bid comes first...
Which has been made massively more likely by today's RNS IMO...which is why we still have 600k shares...
Now Fortissimo, you post some solid stuff sometimes. I have clearly stated my position and strategy and more than once that I research SOLG constantly and sometimes make a short term change.
Please be good enough to tell us how many shares you hold and what your strategy is...?
Otherwise have the decency to desist and stop lecturing people.
You aren't Quady are you?
Fortissimo are you setting yourself as judge and jury here...
Some of your responses might imply that YOU have inside information...you're not Nick are you...?
You clearly aren't on Linked In because this is what Ingo posted 2 weeks ago...
"After 3 years at SolGold plc and 2 years before as an advisor, I am moving on. My role has moved to Brisbane and the strategy has evolved."
Q, do you genuinely believe the company will provide 'clarification'? If they were going to tell us what really happened, they'd have done it in this mornings RNS. We've had as much as we're going to get.
Red.
We are all fully within our rights to get ****ed off, esp. when we have large sums of money on the line.
Some folk are adding 1+1 and getting 5 after reading the RNS. Despite all the debate & speculation we do not know what has / is happening behind the scenes.
Yes, we do need clarity and are rightfully requesting it from Fawzi etc. However, advanced negotiations may be happening and therefore lips are sealed.
I for one remain optimistic that our investment will at least triple in the near future..................
RK, I tend to agree, although as I said earlier, the finance option just became far more difficult.
I'll refine that comment; it'll be far more difficult to attract new investors and therefore we'll have to rely upon our existing sources to a far greater degree than I suspect DC had hoped for.
I'd be interested to hear what that small institution in Fulham Road makes of all this (can't remember what they are called) I'd also imagine CGP have something to say about it all.
redknight1, I'm not the one who keeps selling 200k blocks or 300k blocks when apparently they 'hear' something only then to suddenly do a u-turn a few pence later and say they are all happy to be invested again.
Seriously... no one believes you these days. You've been a a CEO of everything haven't you?? I can't remember the last time you told us you were an astronaught on space station or something or was that me?
I wouldn't get too stressed, but I guess you need to learn that if you hint or suggest that you have 'knowledge' and then openly inform the BB that you have sold the lot - then that could be construed as manipulating markets. A day later, you buy the lot back. Mmm.
Sorry but you recent actions have let you down a bit and it's those actions that have defamed you yourself ... no point having a pop at other posters like me.
Sharky
You'll prob get 1 or two lines off him at best - but at least its a response ;o]
Cheers
BN.c
Are you surprised Damers...these are good people...today's RNS together with the 'cleansing statement' RNS have shocked me to the core, even despite the corporate governance ineptitude of the last several years...
The only good news is that it accelerates the possibility of a bid. I shall be glad to cash in, buy the wife a new kitchen, go on holiday and not have to be insulted every day when I'm doing my level best for myself and the other patient guys who have been here for years, earning nothing from SOLG unless they've traded in and out...
Cheers
sharkmarket
1. The PFS was underwhelming. The market reaction to it told us this. (SO NOT WATERED DOWN THEN??
2. The plan was certainly not for Ingo to leave when Ayten started. You are spinning this into something it isn't. WHY KEEP OLD ACTING CFO ON IF NEW CFO APPOINTED. WE DON'T NEED ADDED WAGE BILLS!
3. If you believe Ayten resigned I have a bridge to sell you. READ THE RNS... IT SAYS RESIGNED!
4. Lisa Parks was SOLG's metallurgy manager. WHO!
5. A failed fundraise is a red flag, no matter how you spin it or what when on behind the scenes. WHY DID IT FAIL? BECAUSE MAIN SHAREHOLDERS COULD NOT AGREE ON THE RIGHT STRUCTURE OR BALANCE?? NOTHING TO DO WITH APPETITE OF MARKET.
6. There has been a change in corporate strategy according to Ingo, and indicated by the recent disposals of staff. None of us know what it is. ACCORDING TO INGO? IS THIS INSIDE INFORMATION? CHANGE IN CORP STRATEGY... YOU MEAN NO LONGER SEEKING TO FUND ALPALA THEMSELVES??
BnC- thank you, I will write him an email. AS WILL WE ALL. HIS INBOX WILL BE FULL.
It also gives BHP the upper hand now addickt....its now a straight race between financing and the first bid...
Thats why I've hedged my bets
What a difference a day makes - you were like a spring lamb yesterday Red.
Good grief the upward movement is just normal activity.
It could have gone up or down.
Todays RNS has had absolutely no effect on the share price.
We await clarification on todays RNS.