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Addicknt he made it clear we are not looking at finances immediately, as this is part of de-risking.
He also mentioned raising finances with our current stakeholders or a JV.
"In the event that the Company undergoes a change of control by way of sale of greater than 50% of the voting shares in the Company, or 50% of the assets of the Company..."
A JV for Cascabel wouldn't do it (51% of the Assets) because of the other projects especially Porvenir and Blanca Nieves, unless...
And not even if its 51% of the Balance Sheet Assets (i.e. $458 million) or $230m...Scott has said Cascabel has had $300 million invested so far, so it would take 77% of Cascabel in a JV to trip the Options qualifier in that case, so...
We have to be looking at an outright sale...
Meanwhile, have they had an informal approach yet...? See my next post...
Well, you're confident if nothing else ChampionsElect I'll give you that. Someone made a preemptive first move before Solg strengthens the balance sheet and inevitable ISA top up seasons adds a few more pence to the sale price?
Barrick as Fort suggests? BHP swooping for the whole lot? Jiangxi and Newmont JV....
Thus is turning into a right rumble in the jungle for a globally significant asset. Bring it on!
I did watch it. He says closed period then immediately corrects himself “or blackout period”
Watch it again if you don’t believe me then you can apologise
Q, I take it you heard the bit where he states he isn't in the process of raising project finance?
There's no doubt it's all about de-risking, but I'd argue production by us is not the focus of attention.
Slug I think you better listen to the video that Eloro just posted.
Scott says we are in a closed period and he will be buying more stock when it's over.
So surprise surprise you're wrong again.
Which means you have successfully maintained your 100% record on being wrong on literally everything in life.
Also Scott couldn't be clearer, yes if we got a serious bid it would be put to shareholders, but we continue to de-risk and go to production.
The one point that really stuck out for me was a Partner, as in it will be more than one partner or a JV when we build.
Thank you Eloro.
Jesus what a fwit red is. He’s not in a closed period, that is 30 or 60 days before results are published to market
This clot claims to have been on boards in ftse100 companies and he hasn’t the first clue….
This is already a Gold play...especially if you take in Porvenir, Blanca Nieves, Rio Amarillo, and $70 billion in Cascabel...
And for many who don't know the story I still think the name SolGOLD is a big reason for the correlation to GOEX, GDX, GDXJ as well as COPEX, which just set a new 2 year high...
The gold miners only have 9 years ore left...as well as Bristow saying they are looking at 'copper/gold' plays; Scott has made clear that the gold can be produced at the same time as the copper at no additional cost AND...where you find copper you often find gold...
Let alone the silver we have at Alpala which produces a globally low AISC of c$1/lb for copper...
Agree Add. It is a red herring. You'd be hard pushed to find a trader/smelter who is going to sink many many millions into a project that doesn't start construction for 2 years and therefore doesn't produce for at least another 4 or 5.
The answer is in plain sight. It's about getting Alpala to turnkey status. In this sense I think turnkey is basically "buy the components of the mine and plonk them here, here and here."
RK, particularly as he's publicly stated this process is ongoing i.e it's not considered price sensitive.
They also said on P235 of the PFS3 that they had EoIs totalling more than the initial CAPEX for Alpala...i.e. $1.6 billion....
As my very good friend has pointed out to me...
Scott DOESN'T need to be in a 'closed period' for "non dilutive, non equity funding"...so their must be something else brewing i.e. 'monetising the asset'...lesser project sale; JV; SOLG bid; W.H.Y.
Hence he doesn’t give a monkeys about the three year average share price as it’s irrelevant when we get that first bid for the whole company
I am warm
Ice I didn't mean to suggest he wouldn't get the options, merely that they wouldn't be worth much.
I knew there’d be something like that for a takeover.
Caldwell is in for £300k a penny over 17 so it’s in his interests to get it as high as possible
Addicknt - with regard to SC losing out on his options, Hubris Hunter has a different view on X.
He says...
"The vesting is 100% in case of a merger > 17p. Caldwell would get all 30 million. WHY? There is a Change of Control clause (CoC) which states clearly In the event that the Company undergoes a change of control by way of sale of greater than 50% of the voting shares in the Company, or 50% of the assets of the Company, or any resolution to wind-up, dissolve, or liquidate the Company, or there is a change greater than 50% of the Company's directors as a result of a reorganisation, all Awards will vest early.”
"Any takeover bid above 17p and Caldwell makes the difference. Hypothetical eg: if a takeover is at 25 p = 2.4 million pounds for him pre tax"
“Those who don’t get the full picture”
Did he actually post that with a straight face?!
How about a J/V for Cascabel where the 51% partner gets first dibs all the ore in return for funding the whole of the upfront CAPEX
The Phase 2 CAPEX is funded from revenues...
Interesting alternative to a full bid but...if it was announced as a proposal I believe it would trigger bids anyhow...
"Monetise the asset"
Why accept 51% when you could have 100%...
Meanwhile the "non dilutive, non equity funding" could drop any minute...
Then watch the SP go...its the only worry left now for those who don't get the full picture...
HFH
When I asked Scott about the exploitation agreement he said by end of Q2 but hinted could be much earlier
My money’s on Camomile & a fairy cake
Darren reference your earlier post. Whilst I think you are correct I think its important to note the following. SOLG had a six month window to change the Phase state of Cascabel from an Exploration Phase to an Exploitation Phase and I believe this is what has been eluded to from your contact. This is not the same as the Exploitation Agreement being signed off by the Minister for Mining and the Government, which I believe we're looking at the end of Q2. Just my take on things.
Living live to the full Q
Yorkshire tea and a bourbon?
Thank you Eloro, I think it's time for a mug of tea and a biscuit.
While I watch.
Great to see Solgold , break out of single digit territory, should continue its strong momentum , now that it’s been confirmed no cheap placements are expected
Eloro, to be honest it's come as a bit of a shock.
I agree about about that Truffle bloke and why we've retained an adolescent to run our IR is beyond me. Maybe he's at junior school with one of Caldwell's kids?