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Again Slug incredibly unintelligent.
No one says it spontaneously combusted.
The fire chief is lying is he.
You always manage to be the most unintelligent poster on here.
Good article, this will be acquired most likely directly by a major but it’s not impossible a wealth fund or major benefactor such as an automotive giant won’t pony up some cash for securing copper.
Only a demented camel with its head shoved so far up it’s backside it can lick it’s teeth clean, thinks that a motley crew whose efforts so far are a community bakery and a coffee shop can develop a $5bn capex mining facility
Quady, trust me on this. Diesel range rovers never have spontaneously combusted, that’s why we haven’t had tales of enormous car park fires like this before.
The propaganda machine is desperately trying to cover up what is monumental, maybe even terminal damage to the EV movement
It won’t work
Quady I don't believe anyone is in the data room. I hope you are correct.
Covgaz this is why we have a strategic review.
It's purpose is to advance Cascabel.
We have people in the data room.
More than one way to raise funds.
Just a few more months.
Maxit have flogged a few assets so I guess 'form' exists there for posters to research. As some have pointed out already, I think Maxit advised Noront Resources. They advised guyana goldfields and common denominator there is the Chinese who bought it out but only after someone else made the first move. Was there a whiff or sniff or hint of a takeover on Noront or Guyana Goldfields? If not, then surely they are classic examples of Maxit's ability to get deals done in a manner that leaves posters like Anon and others all thinking nothing is happening or in the offering.
Scott already has a bucket load of options at 17p so you could say... why would he want to buy anymore? Yes it sends a signal to the market and helps with sentiment but perhaps the real reason is simple... he knows 10p is a bargain. Lets face it he clearly thought 17p was a bargain too otherwise he would have had options granted in the 14's. or better.
The signs are there for those that want to see them and not there for those keen to avoid them.
So...do we raise at 5p , or go bust completely?Or , raise at 5p , then again at .08p in the future? A takeover doesn't seem to be imminent.
Https://www.mining.com/web/miners-seek-partners-for-copper-assets-as-ma-heats-up/
Slug yet again you are more unintelligent than I even think.
Trust me that's saying something.
You cannot even tell the difference between an EV and a diesel car.
Quady, we will not build the mine alone or with a partner. You’ve been given the reasons why many times.
Ultimately you will be wrong yet again and try and wriggle your way out of it saying you never said a bud wouldn’t happen.
Meanwhile 1500 cars knackered and hundreds of flights cancelled at Luton airport owing to the EV “revolution”!
As usual DBW now does an about face and still gets it half wrong.
He has been telling everyone we will be sold.
But now says no even a hint of a bid.
Then he says we are not going to construct.
Even though the company says at every opportunity that we have people in the data room and we are looking at a partner.
Anon ….. indeed there hadn’t been the slightest hint there’s a bid in the offing ….. can’t argue with that
There has been more than a hint however, that we’re not building anything ….. in that they’ve told us repeatedly.
But it won’t cost a £100k to be able to wear the Breitling or is it somewhere where you would be able wear the Breitling.
That’s where your analogy complete fails
As usual your ramping gets more desperate by the day………
I'm being slightly more cagey now, because eventually I'm probably going to be wrong.
But there's nothing in the offing, imo.
I'm really not sure why that would be, but I am pretty sure.
We're not in a closed period and the directors have bought a few, but not many really. At this sort of price, if they were confident, they'd be taking loads more imo.
But as per usual it suits some to believe a bid is imminent, just like it has been for years lol.
Quady has it right. There hasn't been even the slightest hint.
Fort, this open ended strategic review is putting the for sale sign up - or listing on eBay as you'd have it - without formally doing so. We have received no bids, or no bids that the board consider worth making public. The share price has cratered. Were we to put a deadline on the process, I don't see why we'd suddenly see an offer materialise. If I was one of the handful of companies with the financial means to buy Cascabel (a cash rich major miner open to copper/gold plays in South America), I wouldn't have my hand forced by SOLG setting a deadline.
It would make more sense to just sit and wait it out, see if any of my peers bid and then counter should they try and acquire the asset at a price lower than I'm willing to pay. You can be sure that the price will fall further as the deadline approaches, too.
I still think that eventually the Chinese will make a move on this , but they've had their fingers burnt at both Mirador and San Carlos-Patanza in the country. They will want all possible guarantees that the same thing isn't going to happen for a third time at Cascabel. This means:
1) Ensuring that whoever takes over from Lasso is supportive of mining and developing Cascabel - this looks very likely
2) Ensuring that all permitting is acquired (water, tailings site) and that upon those agreements being made public, there isn't pushback from local politicians or indigenous groups (as has happened at the two other mines mentioned above)
I've never really bought PFS3 as a credible path for the company - it's what caused me to sell up a few months ago as the volte face in rhetoric told me that nothing was happening until later on this year. Turns out I was only half right, as buying back in at 14p was, in hindsight, a mistake. But here we are.
The share price has already tanked. Considering Porvenir and how elusive Ecuador mining acerage is... I'd say £300m barely covers everything on the books and that's without ENSA.
Porvenir is amongst one the top ten of discoveries in copper/gold over last ten years.
Someone always bids... stick a Breitling Watch on Ebay and list it at £100 with known value of £10k. You think it will just sit there and go for £100? Eventually market forces come into play and 'value' wins out. So someone will bid... just a question of when and how much they bid... but with 6% holding in SOLG, the Chinese stand to own a few quid by at the very least trying a low ball offer. Worst thing can happen? They get beaten by BHP or another and walk away with a nice tidy sum on their 6% holding. I can't see them being involved in SOLG for just that 6% holding gain. They are here for a reason Sharemarket... it's not be the socials.
Ben, what if no one bids though? The share price tanks and the Ecuadorians, keen to see this developed by all accounts, ask Solgold what it plans to do next?
He owns a huge portion of the company for an individual and DGR is struggling to keep the lights on. Not sure he or DGR need any more exposure here.
Back in?
Welcome to the 3 am terrors
Strategic Review Process outcome. Put the for sale sign up on Cascabel and advertise it at offers over $750M. Thats 20p or so. See what happens. Avoid this bleeding to death. Jobs for the boys. Rinse and repeat.
A cashed up explorer with good projects to explore could be worth more than Solg is now with this albatross around its neck.
They could find and build another mine by the time this is sorted out, and I bet its eventually sold at around that price too!
For perspective...todays Bought Volume is c250k less than the Directors' total purchases last week...so far...
DM, why not listen to the whole interview as i have done twice now.
Then you will be in no doubt what Scott means, no matter who is chairing the Committee...
Bob Sangha is running it, not Dan Vujic...
RK, you may well be right, but as I've mentioned before, if this is indeed the case I'm really not sure why they announced it and described it thus.
Red, if no one wants to help take this forward, we're Donald ducked