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"With the ongoing restructuring efforts described below, management expects current cash balances to last beyond June
2024. Management intends to raise financing prior to June 2024 in order to maintain a strong cash position...
The Cascabel project will continue to move forward efficiently and cost-effectively. The following activities will advance and de-risk the project:
Securing the property required for essential infrastructure such as the tailings deposition site, the concentrate and
tailings pipeline route, etc.;
• Preparation and issuance of a Revised Prefeasibility Study that will examine a phased development approach for
the Cascabel Project;
• Engineering of the elements required to advance the study will be conducted by SolGold technical personnel; and
• Required third-party engineering will be sourced through a multiple-bid process and awarded to qualified firms
based on quality, cost, and schedule.
Capitalised expenditures on exploration and evaluations 3 months to Sept 23
Cascabel 3,042,767
Regional projects 1,282,463 ( I suspect this may be Bramadero...?)
Page 15 of MD&A is Major activities undertaken in the reporting period
Eloro...I believe the 'decline' is the angled shaft that will be dug in the first phase to access the higher ore.
It may not exist any more but Keith Marshall produced a graphic showing this after PFS2. Ingo was also very enthusiastic as it brings down the first phase production costs...
I've kept several presentations and the graphic is on page 20 of the 3 August 2022.
Bozi, I'm fairly balanced and have highlighted the rough with the smooth. The fat lady hasn't sung yet ... so I haven't got anything wrong thus far... the asset sale is the reason why I invested and I believe it will come as Tier1 assets do not remain on shelves.
You decided to turn bearish mid last year and you were right. Well done. I can't knock you for that. But the question is... why didn't you follow your own bearish outlook? What's worse... being bullish on a stock you think is a winner vs being invested in a stock that you think is a loser?
You got it right. But you massively got it wrong and wrong where it hurts.... in the pocket. Why oh why didn't you follow your own vision??
That's for you to deal with, but opposite might well play out for some pi's out there. They ight be sitting on hands at 9p today and then suddenly an offer comes in at 45p or something and they have missed a lifetime opportunity.
And that's SOLG for you. I'm not apologising for being bullish on SOLG as I fully expect to be proven correct. You on other hand, well... you've been the rabbit in the headlights.. not me. You saw it coming and you just sat there and got smashed.
Anyway... well done on EEE. Lets hope you are not too bullish on that one lol! Can't have that can we!!?
Agreed Sean, but it looks like its doing the exact opposite, with a strong tail wind behind we could even get back above 10p by the end of this week !!! how sad it is to be celebrating that 😭
Nothing exciting in the statement but it's nice to have a RNS that didn't crash the share price by 10am.
I'm more than implying it Fort.
You've called it stinkingly wrong all along, until now.
It has nothing to do with my own personal investment decisions, which you are using to conveniently deflect from your own pathetic commentary.
You should be apologising to a lot of people for your awful fantasy and ramps over the last few years - but we all know you won't.
Hi Eloro, yes I thought it must be that but then the item above is "Acquisition of property, plant and equipment" on which they only spent $120k. So I'm assuming land acquisition for pipeline etc would be included in that. Hence I'm confused what the $6m exploration and evaluation assets spend is on.
No worries just checked myself..
GLA
When is the AGM?
Good grief seanhunter you're an even bigger idiot than even I think you are everyone knows 1948 is Slug.
Tesla is not Slug.
I will not disclose how I know that otherwise Slug might be able to trick me.
His boasting on advfn is solely to Fool you and he has done it.
Watch out for GeorgeV11 he is not who you think he is.
Bozi,
We've been here a 100 times now. The story was fine 12 months ago but they haven't delivered. Nothing needs amending in terms of views or opinions as it's a process of seeing what is delivered and then reviewing.
You seem to be implying that you've called it right and I've called it wrong??
I thought we closed this off when you admitted that you actually didn't believe or back your own outlook and were fearful of selling due to FOMO. That's why when you bashed the company and cited your fears, you held onto all your shares at the time. As I said, I would tip my hat to you without a second thought had you sold out at 25p or something and then bought back at 8p or 9p which is what you should have done based on your views.
Like I said... I have held waiting for sale and been positive along the way. You have held waiting for sale and been negative along the way. You should have backed up your bashing with some preservation of equity and folio worth. Instead, you apparently saw it all coming and just sat there like a rabbit in the headlights.
I'd say you got it very wrong.
I might be wrong, but didn't Scott mentioned buying land for the tailings dump site, and for the pipe line?
Also something about a decline. Perhaps that's where part of the cash went.
It's not so much how or what they are spending it on as that's evidenced in the Q report to some extent. It's what are we gaining for that spend? What is their to show for it? And the answer is ZERO.
You must remember and I say this again to make the point... we are NOT doing any exploration. Yet the cash burn looks like previous years whereby we drilled about 100 holes.
That's my biggest beef with these CGP boys. They talk a game of reducing overheads blah blah blah and doing zero exploration blah blah blah and the end result is same if not worse than when we exploring and had huge head count.
And some folk think voting them back in is a good idea! Because they feel they have no other choice?? Well, there is another choice... vote them out and get some new faces in. Get Mather back in. These CGP boys are destroying this company not improving it. It's evidenced in the recent reports, moth ball ops and zero news and of course lowest sp in years.
If they don't deliver a good reason pre agm to vote them in... they are toast. They had their chance and they failed. Simple as that.
Fort @8:49.
Yes that is it.
Care to amend all of your statements prior to October 2023 now?
I see DBW who has been 100% wrong for years is about to spit his dummy out.
I should look up the meaning of narcissistic behaviour.
You display it in all its completeness.
Someone who has no emotional intelligence for other people, someone who cannot denounce blatant rac.ism, hatred of women and extreme far right views
And even calls those that have these view's his friend.
I should take a look in the mirror, as I have given you every opportunity to denounce Slugs views only to hear your total support for him and his vile outpourings.
Nearly $70mil in a year spent on exactly what!
Where has this gone to exactly! Christ All Mighty! The explorer has not drilled!
Seanhunter just post any post where I have switched investments into a safer haven.
You cannot because you are a liar.
Sean he’ll always spit his dummy and he’ll never be proven wrong. He used to claim we’d single hands fly take this to production and gas nor moved to the JV bandwagon and still claims he has been 100% correct to date.
I thought this would be sold earlier and I was wrong. I still think it will happen.
He was diagnosed a while ago
“Narcissistic personality disorder is a mental health condition in which people have an unreasonably high sense of their own importance. They need and seek too much attention and want people to admire them”
Just filter the 🤡 then we don’t have to waste time discussing him .
Fort, what on earth are they actually spending that money on each month?
I'd check your own posting history on that one Quady - to give you the benefit of the doubt, perhaps you weren't clear, you're not too good with words and a lot of what you say is lost in puerile insults. I think that's about everybody that's ever been on this board you've called stupid and a liar. It should be becoming clear to you why you've been despised from a very early age. From the school grass to the pub bore, you've blundered ahead, sure of yourself in a world full of idiots and liars.
I shan't be asking you any more reasonable questions if you are going to have a meltdown like this.
I did note that, but seems like some creative accounting to basically kitchen sink the majority of finance costs into that Quarter. Nothing wrong with that as companies do it all the time but it tends to be done to make sure you mask the real story.
Cash burn may well be less going forwards but that doesn't hide the fact that in the 12 months under merger/premerger control they've burned through $70mln to date.
On what??
Where are the apparent cost savings?? There's one entity doing very well out of this and that's Maxit. They are rakeing it in... oh and the legals...thye silks are doing well.
I'm bullish on a sale now simply because the rule book says when seeking to present shareholders a poor value deal first...
1. Hammer the share price down and let them know what the alternatve is
2. Run the cash pile down so they know the dilution story
3. Bore them to death so they want an ending
Then bang in a pony offer deal and pray someone esle comes in and gazumps it or kicks off a bid war.
That's it isn't it?
Seanhunter you are seen here as an idiot and liar.
I have not switched any investments.
You just make this rubbish up.
We are also producing an MRE4 to go alongside PFS3.
Add: "Other income represents rent received from the subletting of office space at 111 Eagle Street Brisbane."
Rcgl, exactly! You cannot make statements regarding the cash position which you know to be false without running the risk of having your collar felt.