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Sjn, that's a good point, but the implied sp was 4p so I don't imagine they've broken any covenants yet.
Orthern, indeed. DGR have been in a mess for some time and this smacks of desperation and may in part explain why NM changed his mind about our direction. However, since they haven't defaulted on their loan, I don't think Equities first would be entitled to sell the shares.
It doesn't matter depending on what is in the loan covanent if the loan to value ratio goes below a set figure the lender can sell them if they wish to keep the loan within their required margin. They didn't declare any more with regards to this loan so it is all just speculation.
600k secured by 15,000,000 shares, values those shares at 4p...
Sjn, thanks. I missed it.
Well at least that could explain the fall, but that would be good for those on a Takeover path, if DGR holds less shares
If it is DGR they’ll have to declare soon …..
Here is the bit where they pledged 17 mill to AJQ if they need it. If they have sold their Atalantic stake in full then it could be them selling Solgold. I wouldn't be prasing Nick Mather on this board because he could very well be responsible for the recent declines in the share price.
Letter of support - Armour Energy Limited
DGR Global Limited (ASX: DGR or the Company) has provided a formal letter of financial support to Armour Energy Limited (ASX: AJQ) to provide
financial support for a period of up to 12 months of up to $17,000,000 to enable AJQ to repay their debts as and when they fall due and payable, as
well as settle certain loan repayments that are currently due by AJQ and for repayment of the related principal which is due on 30 November 2023.
Addicknt
Check the DGR annual report. I cut and pasted the relevant bits.
Loan
DGR Global Limited (ASX: DGR or the Company) has entered into a loan agreement with Equities First Holdings LLC (EFH). EFH has agreed to advance
£600,000 (GBP) to DGR. The loan is secured by 15,000,000 ordinary shares held by DGR in SolGold plc. Although the title in the shares has been
transferred to the lender, DGR has retained substantially all the risks and rewards of ownership of the shares and will continue to recognise the
investment in the shares. The loan bears interest at 3.75% per annum and is repayable after 2 years.
Forte, I think you are reading too much into the Blackrock side of things. A dear friend of mine is a MD at BR and he told me that most fund allocations are managed by the algos, based on a combination of macro and micro risk drivers, usually it's just a dry and impersonal risk weighting driven decision.
Sire ….. I don’t imagine many would be selling at this level unless either they new something we don’t or they have no choice. So DGR would make sense ….. be interesting to see who is soaking them up ….. maybe the Chinese??
If the ggp development this morning illustrates anything, it’s that even with a super major developing the mine, it’s inevitable it will hit issues, delays and extra costs along the way.
The idea that Solg think they can/could fool people in to believing they can develop a block cave mine themselves…. With this management… and could manage the cost overruns and delays, is and always was laughable.
We can’t even decide on a strategy/plan to move forward after nearly 12 months. Salaries for the boys for as long they can string out the strategic review…
For what it’s worth, I think GGP will be fine..
Sjn, I just had a look at the latest report and accounts and can't find any reference to a loan against our shares. It's not even mentioned as a post balance sheet event. Do you know which page it was on? There hasn't been an announcement on ASX either, which I'm guessing would be necessary. Of course, I may have missed the relevant section in the report.
They do have a loan against Atlantic shares and have ceded control of the relevant number of shares.
Hi, nal.
I'm afraid we can't contact copperpots references.
His first one was found to be his mate, adikt, unfortunately he's incarcinated with redknight so can't use him.
His other 3 references don't seem to exist, wonder if you can throw some light on a contact number for them.
Pinochio
Walter mitty
Billy liar.
All the best nal
Scotty
To be fair DGR is who came to mind when I was thinking about the possibility of a forced seller
Sjn. Yet another with a source.
Please tell me I miss read it.
Could even be DGR selling. I got it from a source that they were down to only a few million Atlantic Lithium shares a few months ago and in their annual report they took out a 600K quid loan out of London secured against 15 million Solgold shares that the lender now has the title to. Since then the value of the collateral would have plunged and the lender may be selling Solgold shares if the loan agreement had been breached. DGR is down at 2.5c and may need to come up with cash to fund their oil and gas play next month AJQ that they have agreed to support. AJQ has been approached about a takeover by a chinese mob and so maybe they Chinese group will provide AJQ funding but I wouldn't rule out DGR being a seller at these low depressed prices to defend their stake in AJQ. We may find out when they issue their quarterly report in the next few weeks.
As mentioned a while ago there are few funds with about 10m or so shares who may be sellers. Doesn't take more than a heavy hand in a weak market to cause disruption pre AGM.
Blackrock had about 5.5% last year or thereabouts. They sold the lot and caused or were party to the sp slide from high 20's to 17's. I don't have a problem with that... they can exit when they like etc. However... according to morningstar data Blackrock still held onto 16m shares. Question... why hold on to them ? We know they have holdings in BHP and Chinese firms interested or associated with SOLG. Not unusual for one of the world's largest market players.
But what if they held those 16m shares with the intent purpose on selling the 'heavy handed' ahead of the AGM to cause disruption and bad feeling / poor sentiment etc etc??
At en dof the day... no fund manager chucks stock into a weak market without knowing they will crash the price. Most play by the rules and do not abuse their 'weights' or power to move shareprice. MM's try and match buyer and seller and provide an orderly market for stocks.
So whoever the seller is... and don't get me wrong... they may well be close to being fully cleared and as such as just dumping the tail of their holding befor month end. But it's been done late October... when it could have been done earlier. It's being done in a way that drops the sp when most would try and do it gradually and gain a higher price.
We'll find out new morningstar data next Tuesday so will be interesting to see who's been selling and who's been buying that stock... because someone is soaking up those large blocks albeit at a cheaper than cheap price.
Come on now dave stop trolling.
Don't worry you will get 7p soon
What is the CEO doing whilst Solg goes down with out a fight. This would never have happened under N M
On this day in the year 64 Nero played the fiddle while Rome burnt. The CEO is playing golf
I was hoping to pick some more 8p shares up today, maybe later then?
Bozi... scrap my comment on GGP re production nearing. I think SOLG look more likely to be producing before GGP by looks of it. Ouch!
No offence Fort but you do talk garbage and have done so with all of your predictions to date.
GLA
To right novice.
I've just received this update on the positions solg are trying to fill.
Hi NAL,
Unfortunately adikt has had to withdraw his application.
Apparently he was visiting redknight in the asylum, and was overheard saying I'm doing a good job, and solg are on track.
The doctors decided he was a bigger basket case than rk, he was placed in a straight jacket immediately, and thrown in a padded cell.
I've also been told there's a fellow on solg who has trekked Ecuador, and has visited cascabel. Can you ask him to contact us. Because it's been so long since we've been there, we've forgotten where it is.
Unfortunately quady is out of the reckoning aswell. It appears he's not a chess master, but he plays a mean game of tiddly winks, so no credibility.
Also fort turned us down. He's redesigning the universe, he thinks he can do a better job than god.
But luckily we've still got to interview copperpot.
What a cv that man has. We're just checking his references.
I will keep you informed.
Scotty
Https://news.mongabay.com/2023/10/investing-in-the-pan-amazon-how-chinas-investment-operates/