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Colonel...even with after hours of 3 million shares, thats still p**s poor volumes, viz only 547,000 shares traded in 5.1/2 hours today...
Nobody's selling....poor liquidity so hard for Its to buy...an equity raise would alleviate that and allow the SP to power forward...
The last one was at 25.5p...the price held at around 28p and progressed to 36p over the following month...
We need to put a floor under this Share Price...the PFS has done that to a certain extent...getting the fund raise out of the way can only be good.
And to restate, I think a Boliden/Franco type deal would not be good news for a number of reasons.
Apart from which it would strongly signal "come and get us" which defeats the object of the PFS and all the roadshows...it would be like throwing the towel in...
Hi Lunch
Sound as usual...
The other problem I have with a streaming deal is that it puts a notional value on Alpala and that may not be helpful...
No for me it has to be an equity raise...
"FOMO"
Totally disagree!
I guess part of my low expectations, besides their track record, was the very disappointing, minimal reference to any financing progress accompanying the PFS.
I agree with the PFS out the way the market is expecting a raise, it’s a predictable as night following day.. I sold 25% of my holding on the day it was released, as it came without any indication of financing progress, a fall was almost inevitable.
I hold out hope, that one day soon Mather sells his holding to third party before he is out the Door
Somethings got to be done...3.1/2 hours trading and 400k shares traded...
Yes but this time its true...
The delayed and delayed and delayed PFS has been a drag on the market for 3 years (Nick first promised it in 2019).
Now we have 'the next cab off the rank", Tandy, JVs, Regionals to look forward to...if the news ever comes...
But at the moment, with PFS out of the way, the market is EXPECTING a cash raise...so why not satisfy it...
After all there's solid underlying demand for shares (I'm firmly bid for 170,000 at 27.6 and it was there all day yesterday), there's just no sufficient supply...
I would certainly prefer a larger deal, preferably one that BHP don’t particularly like, but after holding for so many years, and the endless can kicking, I guess I have very low expectations….
And red, ‘ Yes the SP might fall, but it would then establish a base from which it would rise because it then leaves the field open for a stream of only positive news.’ this has been said every year for how many years now?
Share price seems to be suggesting a raise...are we about to go through support at 27.7...?
Next stop could be solid support in the range 24/26....
Oops! Sorry, shouldn't have mentioned his name....sorry mate!
If there is a placing ( and it’s a big if) it needs to be enough to show the market we’re funded for more than 6 months , but I just can’t see it
I have reflected and I agree with both of you, but I think it should be an equity raise, because it will be much easier to do at a respectable price with participation by BHP and NCM...
(But I wonder where CGP and DGR will get the cash from to ante up their corner...?)
So why has my thinking changed?
Its beyond doubt we'll need a raise before the end of June, so why wait?
On reflection I believe it would be best to go sooner rather than later and raise $50/60 million equity if possible.
This would then give the perception that we are fully funded to end 2022 for both Alpala and Regionals.
There is no doubt the market is expecting a raise sooner rather than later.
Assuming there is good institutional demand in London, Europe and North America that demand should be tapped now. There isn't sufficient liquidity in the market to satisfy all the demand that can be created by the roadshows, so do an issue. Its very hard to buy size as the poor volumes have shown recently.
Yes the SP might fall, but it would then establish a base from which it would rise because it then leaves the field open for a stream of only positive news.
What has changed my stance?
I am now convinced that there will be a market correction sooner rather than later. My worry is that if there is a market shock, it will not only become temporarily harder to raise funds, but more expensive also.
So, in conclusion, get the cash raise out of the way as soon as possible. Take as much as you can from the market at a price as close as possible to the market price. That will not only reassure actual and prospective shareholders that there are no cash worries for the foreseeable future, but also form a foundation for the SP to rise on progressively better news.
After all, barring a market shock, there are surely only positive surprises to come...
And no I DON'T think we should do a streaming deal right now. Whats the point of p*****g off NCM, let alone BHP? They will maintain the same proportion of equity while SOLG can take the opportunity to tap into even more prospective long term holders.
Finally, no I don't think there is a cat in hells chance of SOLG taking Alpala to production, but as Darryl said early on, they still need to be seen to be working towards that. This will not inhibit the possibility of a bid...rather enhance it...IMO.
I hope you don't mind my proposing this.
Good luck
Terry
DBW, it would certainly be helpful to set the cat amongst the pigeons.
Of course, the project funding will be conditional, but nevertheless it would be a very useful negotiating tactic.
I'll bet my left testicle that it's a smelter! And a big wad too!
Orthern
Like yourself I could be wrong but I don’t believe for one second they’ve been all over Europe, uk and North America over the last few weeks showcasing the PFS simply to do a placing for a few shares at 25-30p ….. in fact I find the notion “ludicrous “
I believe what’s coming ( by way of funding) is way bigger and less dilutive and will in effect **** off bhp and force their hand
Just my take
Thank you rcgl2 - ditto.
Best
Z
My prediction, and I hope I’m wrong, but I think there will be a relatively small raise, in the 20-40 mil region, some private, some open, primary bid style offering.
Essentially kicking the genuine, large scale funding can further down the road. I’m fully expecting the board to underwhelm us once again.
As mentioned by someone last night Solgold retweeted this.
https://twitter.com/humenm/status/1521483676374249472?t=5tl8o7c-CuPVrF-N-_NFWg&s=19
Quite an interesting thing to retweet no? Thoughts?
Fair play zoros I really do hope you get the return you are looking for here, as hopefully we all will.
I know you feel like Solg management have been flop ****ing about for ten years but you could say the opposite is true of GGP who seem to have gone balls to the wall with their progress and I'm sure people could equally well have started buying at 1.5p, kept buying up the spike and have an average of 28p there, and would now be sitting over 50% down... All in the space of two years.
Anyway let's not bang on about it, fingers crossed investors in both stocks get rewarded regardless of the timeline.
seanhunter, spot on. I have one or two on my filter list, but never mention who they are or indeed mention the word green when they appear. If folk are going to bang on about green they may as well unfilter and spare us the grief!
addicknt, you raise some very tricky and thorny issues here. Rubicons that need to be crossed quite soon. Cannot be long before we hear from Solgold Management on these decisions? We need funding soon to survive. Where will it come from? After-all, drilling is lifeblood.
Well if you do filter anybody, please ignore their posts entirely after that and stop dribbling like a baby about "green posters" every second post. If you've filtered someone, you really don't have the right to comment on what you no longer know they are saying, and all these knobheads going on about "green posters" these days are just as disruptive.
As we approach our annual funding round (I'm sure the PFS was released 'early' with this in mind), I wonder what BHP's tactics will be.
We know they wish to maintain their position here, but we also know they didn't like the Franco deal and are unlikely to like any such further arrangements or smelter deals. NCM are of the same mind.
So how will they react if the company unilaterally announces a raft of deals which specifically exclude them? What can they do?
We know they weren't happy in the run-up to the last AGM, but it's feasible that DC has managed to repair the damage. Nevertheless, we have a situation whereby a major, but minority, shareholder wishes to exert control without actually being in a technical position to do so.
I think we can assume that if the company merely goes for a normal placing that they will invite BHP/NCM to participate - it would be madness not to do so - unless the intention is to deliberately goad them (Mather's tactic). But this still leaves the thorny issue of the broader finance package.
Does the company seek to involve BHP in a package which would afford them participation but not control? Of what use would that be to BHP? Why would they want it?
I'm guessing these issues are being addressed by the board, but it isn't an easy square to circle.
ONWARDS & UPWARDS!!!
Tick from moi
;)
Filter who bubble ? ONWARDS & UPWARDS!!!
Novice ,filter them they are not worth talking to my friend you just see green posters then and a pleasant board with lths that know all about solgold and where they are going