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I made the point last week we are long overdue a progress update/clarity on the review…. Even if it’s not the final outcome, shareholders deserve a progress update.
Just for comparison, Barclays, with a market capital of over 22bn, employing more than 80,000 people all over the world, servicing practically every industry globally began their strategic review in June/July last year and are due to announce its results this month..
Solgold, currently employing less than a dozen people, with a market cap of 200m and only focused on one small sector, have been labouring with theirs for over a year.. still silent, with no end in sight.. it’s unacceptable.. pitiful even.
Q, yes, an update and some clarity would be helpful, but would it make tactical sense?
They may have put certain options on the back-burner, but perhaps they don't want to rule them out in case something interesting comes out of the blue? Additionally, they may be in quite detailed negotiations which are at too early a stage to disclose, and they must not mislead the market.
It seems to me that there is one of the options that is in their own control and they could have completed by now; the spin-out into Newco of the regionals. Does failure to do so imply it is no longer being considered?
A decision to mine would get the attention of prospective buyers.
Okay, we have PFS3 and to me it looks good, no surprises and a decent route to production.
I know we are awaiting the strategic review, but because of the share price at the moment.
I believe Solgold should issue a statement of intent.
In other words, what the strategic review is still mulling over and what is excluded at this stage.
Also as the strategic review aims are about how to advance Cascabel, then any finance options that are currently being looked at.
They can do this as a statement of intent has no legal standing, but it would give us an idea about what is being considered and what is not.
"We were blind-sided by Friday's announcement "
Not sure I follow on that one. The pessimists were blind sided. Scott said 'early Q1' 2024 and he delivered a day late. So his guidance was pretty much spot on albeit right up to and a tickle over the wire. Hardly blind sided??
But I know what you mean... any news that comes from SOLG is a surprise these days. Although we all expect a sale deal RNS... I suspect when it comes it will indeed surprise all in a good way.
The MD&A lays out very clearly what's still required before Cascabel can be described as being de-risked, and the fact is there's still a lot of work to do, especially as the company only has six full time employees. (Anyone still thinking SC is twiddling his thumbs is mistaken)
It's possible we could enter a conditional agreement with an interested party, with subject conditions related to the work-flow, but is that likely? Or will will wait until we've ticked the boxes?
It it's decided that waiting would put us in a stronger negotiating position, then it would seem likely that we'll see some action on the regionals (Porvenir?) before anything happens at Cascabel.
We were blind-sided by Friday's announcement so let's hope SC can repeat the trick with some of the other requirements, particularly the IPA.
We saw what happened when DC left raising funds to the last minute. Hence, I would have thought that lessons were learnt and that funding will be sorted out in good time. Hence, the longer we don't see a funding rns, the more likely that it might not be needed due to pending corporate action?
Another late night post dittyman.
HIC.
I see you now have aquinaga in your team.
Dittyman, novice and aquinaga. The three amigos.
Conjures up all sorts of images.
Love it Padmaster!
Hope this brings the rewards we hope for!
For you Aquinaga
POTY MOUTH POLLY
Potty Mouth Polly, the Galah clown,
Spewing nonsense, wearing his frown.
Our Solgold share, his target to diss,
His words hold no weight, they're simply amiss.
With feathers ruffled, he squawks and he squalls,
His antics are empty, his voice only stalls.
For Solgold shines bright, amidst his dark shade,
Our green line infestor, his antics degrade.
Oh Potty Mouth Polly, with feathers askew,
Your antics are tiresome, your ban’s overdue.
Rise above pettiness, and soar with grace,
Leave behind bitterness, find a better place.
So let's lift our spirits, and leave Polly behind,
In the realm of Solgold, there's treasure to find.
No room for clowns or negative plight,
We will rise above it, with all Solgold's might.
I’m bringing relevant arguments to those who aren’t too obstinate to grasp what’s happening
JP Morgan and Blackrock are stepping back from the climate rubbish.
You can put your head in the sand or you can try and understand that it’s a busted flush and it’s never going to happen
It’s your choice and your money of course. But I can assure you right here and right now that this is purely a gold play and will be taken out on failing fiat rather than fantasies about a carbon free future
'84, really? I never knew that. The point is you simply repeat yourself endlessly and you will never change the minds of those who disagree with you. So perhaps it's not me being thick.
Addick, you might be too thick to see it but the whole viability of cascabel as a copper asset is underpinned by the nutty move to net zero. It is not only important to this stock, it is absolutely vital
If we aren’t sold before net zero crumbles then we’re only viable as a gold play. If you can’t see that, you shouldn’t be investing in metals
By far the most interesting and relevant post today was hfm's. It received two comments.
By contrast, the tedious and repetitious climate balls receives multiple posts, just as it does every weekend.
Who's going to be big enough and brave enough to be the first
one to stop, and let the board get
back to all things solgold.
Any chance we could take this to a forum solely dedicated to it? There’s plenty of them. And as for last nights toxic fiasco, the less said the better.
Another three highlights form the interview are: 1) financing is difficult but finding a large resource is 10 times more difficult so the large projects eventually get financed; 2) the entire junior sector has gone through a trough in the last couple of years and the next 1-2 should see a recovery and better market sentiment; 3) many projects where Rick Rule invested, that eventually returned multi-baggers, were at 50% loss before that (I suppose this is the "orphan period" we sometimes talk about).
So all in all, we might still have a chance to see some good money here.
GLA
Thanks, hfm. Really interesting interview with people who know what they're talking about.
Conclusions? The governments and world bodies telling us that we'll be de-carbonised in no time at all are talking through their collective hats. Second, there's no way on god's earth that we'll take this to production.
Let’s hope so!
If you base your investment decisions on the quality of a bulletin board....?
Have a great day all, Oh and please remember to maintain a modicum of decency ...
Very excited for this coming week guys, I think the corner has finally been turned.
ONWARDS & UPWARDS!!!
Thanks Padmaster, hope you’re good.
Please could you do a Potty Mouth Polly one? Or green box BOGOFF one. 🙏
Enjoy the rest of the weekend.
Thought I would pop in here to get some background views before potentially investing but looks like a scene from Broadmoor so I will let you all get on with it and look for a different investment. Enjoy your clappy clappy.
Padmaster. clearly another raw nerves been hit.
promoting another late night post.
HIC !!!!!.
and even funnier. it's now the pad and novice show.
I wondered who would fit the bill as the "attention seekers " groupie.
novice fits the bill perfectly.
Spot on Novice. The man needs urgent therapy.