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Have received a response.from my contact.
"Some of our largest investors are North American and we saw strong support from this important region in the last capital raise."
And
"Darryl has just returned from North America and we are planning to return mid-May and more frequently...In between we are marketing the PFS in Europe....an attractive story underpinned with technical facts."
Hope this helps...have a good night...
Agreed
RedKnight - Priy Jayasuriya left all of the companies in the DGR stable that he held a position with.
No official reason was given, as they rarely are in these cases, but given the read across it's not hard to assume a breakdown in relations, for whatever reason.
Why not, its the only real reason we are all here, believe it or not the rest is just titivation from narcissists...
hehe lets not start all that speculating again :-)
Very nice, very steady... Not too long now I feel ; o ))
At the moment the Canadian market has no liquidity at all for SOLG because its unknown and there is no interest...just look at the daily volumes...
But a substantial equity/debt programme, properly marketed to North American investors might change that...
Thats where the focus is going foward...
Wherever the company lists if it issues shares in the local market they get exchanged back into US dollars for reporting...
The shelf programme would be in CDN and/or USD I expect...
I guess eventually we'll have a Nasdaq or Russell quote as well...
I guess thats the aim...twofold: a liquid market in Toronto and New York; paving the way for the Alpala project finance.
Toronto is the global centre of the mining markets.
Following their London 'roadshow' last week, they're now focusing on Europe AND North America.
"In recent years, the company has focused heavily on expanding its presence in the Americas, investing in Ecuador-focused gold and copper explorer SolGold, buying a majority stake in Canadian gold mine Red Chris and acquiring Toronto-listed Pretium Resources, which owns the Brucejack mine."
Still bid for 300,000 shares on a dummy electronic trade...
Meanwhile I've just sent this to my contact:
"In the Kitco interview in February Darryl said you were going for a 'shelf listing' in Toronto...this of course could also unlock US investors.
Is this for Equity and debt purposes related to the Alpala project?
It seems to me it would be neat if you were to debut this with an equity issue in Candian dollars ASAP.
I think the market would take this very favourably and it would be much more effective than your 'mickey mouse' TMX listing..."
In the meantime, Fawzi says he has been "travelling on a road show in the last week"
Not had an effect on the market yet...
Of course I understand and completely agree with you as usual FTJNY, but...
The appointment of a permanent CFO would be a statement. I was told it was only b being held up by the appointment of a CEO (and no that wasn't Ingo).
And I'm sure Ingo is well rewarded, but when you appoint a CFO, either or both he gets options as part of his package (above the SP of course) and/or he buys shares in the market as a statement of faith.
Either of those could give a lift to the SP
But I'm afraid I have concluded the same as you. They don't need a permanent appointment as they are just waiting to be taken out...and Darryl as good as said so "we're open to it..."
“RK, agreed, it's an absolute mystery as to why they haven't found a CFO”
Maybe it’s because the board believe Solg will be taken over so why bother with the time and expense of appointing a CFO as it will be irrelevant?
Regarding Ingo it’s my belief ( but I could be wrong) that he already has around 6m shares which from memory he got either when he joined or shortly after? Again I could be completely wrong about this but my understanding is that Ingo has 6m very good reasons to juggle two roles and get the right outcome for all shareholders ( including himself)
They've got a CFO. They're just not prepared to appoint him for some reason...
As a result of which, Ingo is juggling tow of the most important roles in the Company at a time when they are trying to fund Alpala and probably preparing to fend off a bid(s).
And nobody ever said why Pray Jayasuriya left. Was he pushed by Nick because he didn't agree with what was happening...?
Has no idea and is only here to disturb.
RK, agreed, it's an absolute mystery as to why they haven't found a CFO. It's not as if they're difficult to recruit - although good ones are as rare as hens teeth.
And under what username was you banned 5 years ago?
GGP has a smaller MCap but it has traded 15 ties as much by value in the same period...
They haven't had a permanent CFO for almost 18 months...what does that say to the London markets. This is the role that is supposed to manage the SP and investor relations day to day...
Ingo has been combining the CFO and project Finance role for over a year now. If they're not going to appoint him and give him options, doesn't that suggest that the Board is like a rabbit in the headlights, just waiting to be taken over...especially when the new CEO, appointed to lead the Cascabel project forward and the 'next cab off the rank' says "we're open to it" when asked about a bid...
Nick must be smiling like a Cheshire cat watching this paint dry and waiting for the inevitable bidding war into which he can throw his 20% or so shares...
Faint whiff redK - but it’s there
Are you serious Pad...?
3 hours of trading and 400,000 shares traded...
When are these highly paid Directors going to pull their finger out and make something happen, rather than waiting for a bid to come along just because Mining Weekly said so...18 months ago...
This is tired news and BHP, Barrick and the like must be rubbing their hands with glee at this, frankly, ineptitude...
The whiff of takeover is in the air. Can you smell it?
Also there is an overpowering foetid stench. For sure, somewhere nearby is Buddy.
Sorry if my very long posts pushed some others down the page, but they are all 100% SOLG related at this very important time in the company's history. We need more of this on this board.