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Jerry, indeed I do.
I'm really not sure why this MD&A is causing so much grief. We knew what the cash position would be and we knew that absent a deal of some description, more funds would be required before June. So what's new? The fact that the some people assumed the PFS would be early Q1, but we now appear to have missed the 'early' bit. Is that really a cause for panic?
NMM I thought the close period was the period between finishing and releasing the interim or annual reports? They’re out now
I have been hearing those words from various board updates for over 5 years now - and the share price hits new lows. Thankfully I have managed to bob in and out, so have neither made nor lost money.
Addicknt, I think you are assuming there is a future for Solgold. I am not so sure.
Quady, we are not renewing the lease on our corporate headquarters, which runs out in July of this year. Absolutely everything this company has done over the last 12 months has pointed to a winding down of all operations to conserve cash and prepare for a sale. Dramatically reducing headcount. Stopping all exploration. Indefinite prioritisation of the regionals. An indefinite strategic review. Read the MD&As, objectively, and wake up to this reality. This is the antithesis of how a company gearing up for a long mine build and production behaves. If you don't realise that, you shouldn't be invested in this share.
Fortissimo, I would think interested parties do their own homework irrespective if the investment is 1 or 3 billion. Both are a large sum and justify proper analysis.
I assume all in the data room have access to the mineral resource and can make their own mine design. Big or small.
So imho PFS3 won't all of a sudden open the eyes of interested parties.
At least they got to the stage if financing before becoming insolvent
Redknight just guesses when it is a close period. See his posts from earlier in the year.
The PFS could well still be being worked on, due later in March, in which case Directors would be free to buy now.
(Note: I'm not saying there aren't other strategic discussions restricting director buys, but we don't know).
"PFS3 isn't going to change a thing either imho."
I disagree on that one snowman. If you mean change the sp near term as a catalyst, then yes it might do very little. But in terms of selling or doing deals on ENSA, it should open the door to quite a few interested parties that were previously locked out due to the $3bln required capex. Drop that to $1bln or $1.4bln and suddenly you have an asset which can be taken on by entities that are not super majors or chinese state related etc. That will make Chinese or BHP et al more nervous and less able to boss SOLG around. I think that's the idea of the PFS3. It alos opens the door to consortium finance deals with Franco and others.
So the PFS3 is of importance in many ways but the market might not work that out for a while until an offer lands. At the moment, the market thinks a $3bln project is the last thing anyone wants right now. It's tight out there right now and finance costs are high.
TOS.
funniest post of the week. made me smile
If we had listened to Solgold over the last 18 months, you would all realise that we are preparing PFS3, and at the same time undertaking a strategic review in order to advance Cascabel.
Solgold have been very clear on this.
Nothing has been said about a sale.
So how about this for an idea.
We are doing just that.
The problem we have is how to advance Cascabel.
Well I believe if the PFS comes in at around 1.2-1.5 billion dollars for an open cut mine, progressing to a block cave operation.
Then we do just that.
We finance it with a partner.
We raise the money and we use a civil engineering company to build it.
The mine design I believe already exists as a LLD so the engineering guys can provide the HLD.
This scenario fits in with everything the company has said.
Although I admit other possibilities exist, this I feel is the most likely one.
Terry, I think we can forget about Barrick for a while: https://www.miningweekly.com/article/barrick-replaces-140-of-gold-with-no-need-for-dilutionary-or-dilusionary-acquisitions-2024-02-14
PFS3 isn't going to change a thing either imho.
Thanks RK, makes sense to get that out in short succession then.
Cheers Wazza
MassiveRay.... you say you’ve never stayed married to this share. Sadly I have. I’ve been seeking a divorce for a long time now, but sadly it’ll cost me to much. Therefore we are still living together but can’t stand the sight of each other.
Some look at Royalty deals as the easy option.
But look at the position Scott has allowed the company to get to: a $50m deal reflects c25% of MCap!
Appears Plan Z of 'crash the SP to encourage a bid' is in full swing.
Afraid I'm not with you on that one, Jerry. The company needs to keep hold of as much working capital as possible.
No because the PFS is imminent
Can directors buy again now this is released?
That's a great idea Jerry but all royalty deals are ring fenced to ENSA so a non starter.
Nice thought though.
Adikt. That's not like you. The whole board to a man showing concern.
And low and behold you manage to pluck a snippet of positive news, I might add, without a scrap of evidence to back it up.
Also not like you.
We needs more fun tweets too.
"Well the plan is working ! will deffo be in the 5's by COP"
The jury is out will it for the first time in its posting history get just one call right????? I doubt it.
At this price they should do a royalty sale and a share buyback.
Slight change in Going Concern statement:
end-Sep: "the Directors expect that future funding will likely be provided by equity investors, debt funding or via other strategic arrangements."
end-Dec: "the Directors expect that future funding will likely be provided by equity investors or via other strategic arrangements."
No surprise at change. And 'strategic' can include Royalty deals etc.