Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
"You should stupid"? Didn't anyone not ever learn you how to write proper, specially when you is writing the Queen's English? This is what I am up against.... Ignorance!
Wouldn't want to be out over weekend imho
Sound*
No need to be rude Sean you should stupid ..
Bids tend to come when various parties have had their feathers ruffled. We saw similar events when Franco deal was done. Like I said, BHP and NCM are not here for the dividends in 7 years time. Nor are most pi's. SOLG has to fund through to DFS and that might require a minor raise $40m or a larger raise $100m+.
Unless I am mistaken, have SOLG informed shareholders of the estimated costs or cash required to deliver DFS? And if not... why not?
LunchMoney - a quality contributor but nail squarely on head at 9:05.
Stop expecting a bid, which I don't think is anywhere near incoming anyway and you won't get upset when it doesn't happen.
As has been said, this is more likely to be funded with a JV or royalties anyway, imo.
they don't need to bid for this they just need to sit on it till they need it why tie money up when they don't need to
Nothing like XEL, that was a completely different business dealing with heavy oil against falling oil price and an investment background that was anti fossil fuels. The weakness was taking on 'debt' financing. A better example would have been SXX. That one slipped up due to similar debt issues combined with development issues. None of this is surprising. Big projects carry risk. Rio experienced the same with Mongolian asset Oyu Tolgoi. For the likes of Rio (who have billions and billions to spend) it's bruised nose or nasty cut. For a minnow like SOLG (as in case of SXX etc) it won't be a bruised nose it will be a clean decapitation. Shareholders left with the lifeless limbs.
That's why you always derisk or partner up rather than going it alone. I think some investors fail to understand that SOLG can indeed take Cascabel through to production but in doing so will need to farm out or JV a large chunk of ownership or forward sales (royalties) etc.
Ultimately it all comes down to what SOLG's package which could involve Boliden, Norges, Franco and others looks like for shareholders against what will be an inevitable reposte by BHP and NCM. The latter is not invested in SOLG as a traditional shareholder looking at the business with 13.5%+ stake. They are invested in SOLG due to the assets and it's the assets that they want not 13%+ in SOLG shares lol! But the share ownership is a step toward that goal. It's a foot in the door.
Now... as I posited a few days ago, would shareholders ( I mean real shareholders and not BHP etc) be happy with 1% royalty and $100m raised via someone like Boliden or prefer a placing giving BHP and NCM another 1%+?? If I said a placing at 25p... then I suspect most would say FO... I'll take the boliden royalty deal. If I said 28p placing would you say the same? If I aid 32p placing would you say the same? If I said 36p placing would you say the same?
Personally, I'd welcome a $100m equity raise if done at 40p with BHP and NCM getting their slice. Any lower than that and I'd happily take the Franco style royalty and couldn't give a flying fig whether BHP and NCM are happy or unhappy. They have sweet FA in common with me.... and I'm a shareholder, not a super major mining business.
Orthencopper ,I think its closer than you think we come along way in4yrs ,agree its locked was for a reason i guess but won't stay locked for very long imho oh and am getting to retirement age soon soon hurry up lol!!:):)
MassivePlonker you've missed all the buses mate. If this goes to 25p it will keep going to 19p. Are you going to be a loser all your life? Back to POLY for you...
Good post Lunch
Totally agree . Whole sector is having a tough time.
Perfectly happy to sit and wait though I think it’s nailed on something has to give before the next AGM and one way or another we’ll need a cash injection before too long .
This is getting to be like XEL, where we had this enormous oil field - and then nothing.
LunchMoney - you aren't a Trump supporter as well are you?
Z
The problem bubble is you have been posting that same message for the last 4 years… there are now an extra 500 million shares in existence over that time. And we are rapidly approaching the point where we need money… we have already slowed right down to try to save what little cash we have left….
Solgold board seem to have this weird position of owning one of the largest, most exciting discoveries of the last 10 years, a portfolio of opportunities, but dont want to monetise any of them….. the board are like an old age pensioner living in a squalid little house, with a basement full of antiques, but because they can’t bear to lose them, they keep them locked away while living on handouts…
RICH3R,yes I think a bid or j/v will happen soon imho
Sean cheer up mate, June has indeed come and gone but so what? It might happen in July or August? I do remain confident that a bid or at least a JV will happen soon - and probably directly after the SP has been taken down ? As far as I’m concerned, I’ve been in this share far too long to be ‘out’ or partially out when it hopefully happens. I’d kick myself more in that scenario than I will holding at a lower SP. But it’s everyone’s choice how they see and play this game. Atb
Quady NM has always stated for over 10yrs he would reward all shareholders, explore then sell it like he has a history of doing for the best value to shareholders and institutions I don't think he was talking about Solomon Islands!!:):)
Waiting for the inevitable 25p...
Have a good weekend all..
Zoros, guilty mate. But I really did believe it. Mainly because the alternative is too much to bear - that we will basically be keeping hundreds of people protected in well paid jobs for the next 15 years while they happily dilute us into.oblivion.
Solg was on AIM when I first invested, but it all feels no more fair or safe for the small investor this morning. Buckle your seat belts - I don't know where we're going but we're on our way, and it's going to be a very bumpy road down into the underground.
Morning Quads.
Solgold is not taking Cascabel through to production as we do not have a pot to **** in. As previously noted the only way of getting to the ore body without 3rd party assistance, is if you & the Children of Solgold get the pick axes out.
If I had evidence of a bid - a bid would already be in the offing. However, if you look at the list of our investors it is plain as day to see there are several interested parties - many of whom are fully versed in large scale mining.
Like it or lump it a bid will come.
Damers.
Damers, Seriously.
Solgold have stated they have had no one approach them and that they continue to production.
If you have any evidence for a bid them show us.
Lots of evidence that we are going to production. It's in every presentation for the last seven years.
It seems like to me that the BOD have been getting their ducks in a row (new CFO / remuneration policy / increased focus on Porvenir) before a take-over bid for Cascabel or a JV for this concession.
As previously suggested if SOLG is bought out it will still exist under an umbrella Company. This would mean that the new appointees (Cuzzubbo / Saridas) will be taking Cascabel, Porvenir and another 1/2 dozen Mega Mining projects through to production.
The Futures Bright - keep the faith Solgers.
Damers.
Meanwhile 800 people get a regular remuneration from SOLG, the Board handsomely, any jobs going ?
This seems like it is going to drag on forever- another 7 years to production ? Please Solgold gives us some news!