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So, we can expect the SP to plunge further when the raise is announced at a discount! We can discount any bidding, and if for some reason we cannot secure funding, then the proverbial will hit the fan. What a thoroughly useless ceo we have elected and given a mandate to. I have to accept that my investment in solg may never be recouped.
With the ongoing restructuring efforts described below, management expects current cash balances to last through June 2024. Management intends to raise financing prior to June 2024 in order to continue to advance its strategic objectives.
As at 31 December 2023, SolGold Plc (the “Company”) and its subsidiaries (the “Group”) had cash on hand of $12,835,344 and net current assets of $13,148,070. The Directors have reviewed the cash position and cash position forecast of the Group and the Company for the period to 31 March 2025 and consider it appropriate that the Group and the Company financial statements are prepared on the going concern basis. This basis contemplates the continuity of normal business activities and the realisation of assets and discharge of liabilities in the ordinary course of business, for the reasons set out below.
The Group has not generated revenues from operations in its history. Like many exploration and development companies, the Group raises finance for its exploration and appraisal activities in discrete tranches. Therefore, the ability of the Group to continue as a going concern depends on its ability to manage costs and secure additional financing within the next six months. Management’s cash flow forecasts show that the Group and the Company need to secure additional funding to continue their exploration and development programme and in order to continue to meet their obligations and liabilities as they fall due.
Hereforhemo.
Why do we have to wait for a morning rns.????
MD&A as sad reading as expected:
Cash balance c$13m
Management expect to raise finance before end-June
New IPA requested by Govt (some +ve and -ve to this, including reflecting additional allowances now available, can include exploration spend towards target, align with new exploitation agreement/timings). So I'd hope by end-June given 6 months to activate Exploitation licence from December.
PFS date only mentioned as Q1. (No reference to 'early' etc).
Sharket, best you sell up then if you are that worried , see ya.
More facts for the masses to digest, and ignore, Well done eloro.
Be interesting to see how adikt turns this fact into his own version.
Wow. Have just waded through the first few pages of the MD&A. We are now having to apply for a new IPA and "amend the investment schedule" for Cascabel exploration. No timeframe given for completion. Reading through the lines here, I am increasingly worried we have a huge debt without means to pay it.
Folks, all of the documents are on SEDAR.CA
Anyone can access them.
December 31st, 2023, the company has cash on hand of $12,835,344.....
If burn is $2m per month, then at end of this month they are down to $8m. Still reading, but not seeing anything yet regarding where funding will come from. The company believes it can raise funding.
So much for the company being in the best shape ever!!!
They should get someone to redo the website. Again.
Looks like we'll have to wait for a morning RNS as the website only allows you to search for news until the end of January.
https://solgold.com.au/solgold-plc-announces-half-year-report/
1984 - I've been around for yonks longer than most here and I hadn't heard of 'chebs' until a very well endowed lady from Washington (I'm from mid Durham - I'm sure you understand the difference) mentioned the word some ten or so years ago. I haven't heard it since until your post today. Reckon it'll be some time before AI understand the word and delete it. Now if only certain people would change their name to - Chebs!
Tits out for the lads!
Morningstar says that the half year report and MD&A are published, but I cannot find them yet.
If they’re above that I’ll be impressed
Looks like this has bottomed though
I've just woken to the sp rising to over 7p
I was expecting the board to be full of excited chatter, telling me, hang on, the trains leaving, or bbg was right,
Or
"Here we go
Here we go"
Or my source was right. Or I expect the imposters who never held shares will disappear now.
I'm wondering if reality is setting in.
Dbw.
You get the award for the biggest understatement
In history.
"I guess people have had to lower expectations a little".
A little, hahaha.
Do you not remember the game we played years ago.
Guess the sp by Xmas.
The range guessed was anything between £2.46 and £12.
I realise for you to admit things are not as rosey as you have pleaded daily for years.
But lower expectations a little. Hahaha
Of course!! Yesterdays innocent compliment is todays sexual assault in era of woman power
Dopes still can’t put a shelf up, park a car or change a tyre though. We’re not totally useless just yet
1984 only if you ask first right ?
Couldn’t disagree more
Snatch, Chebs, lobster, steak, beer and wine can all be touched
HAPPY VALENTINE'S DAY
"The best and most beautiful things in the world
cannot be seen or even touched.
They must be felt with the heart."
–Helen Keller
Love ....https://i.postimg.cc/dtCNk6dp/mlove.gif
The Hammer shape ... https://i.postimg.cc/8cm30rVX/Bullish-Hammer-Candlestick.png
Do you see a bullish HAMMER on the Candlestick chart today?
Chart ...http://uk.advfn.com/p.php?pid=staticchart&s=L%5ESOLG&width=500&height=300&p=1&t=1&dm=2&vol=0&cb=
Don’t know if this has been reported but Solgold has been removed from the MSCI global small cap index.. due to drop in market capital making it ineligible..
I think the merger was exceptional especially the delays involved so probably the exception. The MD&A should be for the period only as that's the purpose of it. No point blending MD&A's Q together. One thing is sure though, SOLG seem to nearly always leave it to the very last minute. They don't have to report on the 45th day do they!!! Why not do it in a more organised fashion. It just looks all a bit lastminute . com
It’s just you, there is no evidence of any “auto bot”
Even Quady understands this