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Bubble, how I wish your Code 1 was foolproof for delivery of the news we need from Solgold!
News of a sale of Cascabel is what most of us desire.
I know there is a lot of hype on King World news but do have a look at the graph on this attachment. If correct we really are in an excellent position but requires time (which to my mind we do not have).
https://kingworldnews.com/the-most-important-chart-of-2023-will-blow-your-mind/
How can he not have sensitive information?
Surely the strategic review is at least at draft if not final draft stage.
The review must have a plan to increase the value of the company.
This award is bs.
Code 1
I don't think I will get enough to split 4 ways like TheItalian lol but I would double up on my holding in another out of the DGR stable that is ALL which I am sure many on here know about
Orthern, in an ideal scenario I would take proceeds from here to top up the pot I have in GGP, wait for that to go into production in 2024, and then slice 50% of that so the rest was free carry, and top up the (now much smaller) pot I have in ALL to see that into production into 2025. That's the dream, anyway.
I'm tempted to wait for the banking collapse... then pick them back up at circa worst 2008 credit crunch prices..... or whatever remains after it all heads south.. Though UK deposit protections are pretty poor, so I guess with whatever I have left...
DBW..... 'whole site is undergoing a revamp'.... hopefully it will look a lot like BHP, Jiangxi, Mitsui, Newcrest's website soon :) Have a good day all. C
"certain performance criteria that need meeting"
Yes DBW... and I suspect they'll make that criteria rather easy to accomplish. One caveat being 'any material sale' will result in all SOLG shares vesting.
In Scott's case the options are already at a base price near multi year lows. Hence surely he would be ok with the criteria being that unless a 100% gain (34p) is achieved then Zero options vest. Considering that most believe that 34p is far from being a decent price (on historic basis to with or without dilution) then something like that could certainly help shareholders with their outlook. If for instance the criteria says something lime 50% increase in share price (from 17p) results in 50% vesting then I for one will not be voting it through.
So when the 'criteria' is released, we'll soon know two things... 1. How cheap they want to make it for themselves... 2. Or how confident they are of making a sale or cash in event over 50p. In absence of the latter, I think it's going to hurt sentiment wise as well as morally.
Keeping it simple, I don't think any management should be rewarded with any options unless the monetisation event happens THIS YEAR and it's over 50p. Anything less and that's poor performance, undervalued and all down to MISS management and we wouldn't want to reward for that would we?
It's interesting to have a read of the 2023 Priorities section of the presentation. It gives the impression work is continuing at Cascabel, including relocating the community, but no drilling, and the section on other targets is no more than a wish list.
Split the proceeds in four slices:
S1) Global dividend accumulation fund
S2) Gilts
S3) Some other crazy s*** like SOLG where we can meet again in this BB and waste another 5 years of our lives arguing
S4) A boat
Bubble, IMHO You're are the deluded one imho! IMHO you change your mind by the day IMHO. IMHO you're like tumbleweed IMHO. Just saying imho
IMHO what's your price this morning imho? IMHO you will have a differing price tomorrow IMHO.
Lets say we get a decent monetisation event.... Anyone have any plans to invest their rewards anywhere specific?
bubble, what can they update? we have suspended all operations... we have not announced any plans to restart anything.
Orthencopper that's why we need to get this sold and get out of here imho these j/v and build a mine posts are deluded imhothey got no intentions at all of doing that ,no updates for months on anything
Not2/Add
Absolutely….. with the board now comprised of massively invested/ incentivised individuals there is no way they are going to watch their potential return decimated by entering a JV and destroying any potential T/O premium.
This will be taken out by a major I have no doubt in time and at a substantial premium to todays price.
In the meantime continuing to optimise the project will enable a new assessment of the true value of this project in an environment of much higher copper and gold prices. this is all achievable without locking into premature engineering studies based on an unoptimised model. That would be a waste of time & money as it’d all have to be redone.
There will be no indication of any offers on the horizon until it happens then hopefully all hell will break loose.
Much as I was a little taken back by Scott’s options on reflection I’m starting to see it as a good thing as he is massively incentivised and I’m sure there will be certain performance criteria that need meeting.
On a separate note I did question the company on the lack of updates on the website and asked the reason why ….. apparently whole website currently undergoing a revamp.
I imagine, they are rubbing their hands, kicking back in their chairs, smoking cigars…. As they laugh at Mather between themselves… and how they went from dismissed/belittled junior partner racking up development cost debts to Solgold, to running the show and dictating how things will be…. Oh, and awarding themselves fat options packages…
They're building the school.....
Morning addicknt, in life you sometimes don't get what you want....you get what you're given!
Not all agree that a J/V is the best outcome, but they might get one irrelevant of their wishes!
There will be many exit points and ALL shareholders will be rewarded (or something like that, I'm to busy to check). Does that mean investors that want production will be rewarded too?
Good luck buddy, see you back here in a week or two.....life beckons!
Agreed add we would be better off being taken over at a sp not far from where we are now rather than enter a jv and experience the long drawn out pain of being diluted to oblivion over a number of years..lts face it there are not many infrastructure projects that get built on time and in budget.
Q, you forget we were at total loggerheads with CGP/Sangha and the animosity was such that they could have made life very uncomfortable.
As for a jv, it's the very worst outcome for us - unless you like the idea of losing control and being reduced to a bit-player?
Sorry addicknt that doesn't stack up either.
CGP and Solgold could have jointly agreed a sale with a buyer. No need to offer them such good terms.
I have slowly changed my mind to agreeing a JV.
That to me makes the most sense, and answers all the questions.
So I believe we consolidated Cascabel, because it is now financible.
Fort, indeed - it had better turn out to be worth it!
It's likely that over time we could have starved them into submission, so why do it now? Because it makes us more attractive and makes it easier for a buyer to deal with. The feeling must have been that the SR would prove less effective without them on board, and for that we paid a heavy price.
However, on balance, I'm pleased we did - provided Caldwell is true to his word.
If they are using 3% as the cut off point then they wouldn't include Norges as they dipped under 3% with the merger dilution. Blackrock were already sub 3% I believe and missing off the list.
Apart from that, all looks normal. Considering CGP had 15% ENSA and around 6% SOLG stock, they appear to have dodged the dilution that we have all suffered and are almost 3% up on their holdings. Irony is, after Scott's extra 1% farce they are collectively close to 25%. So yes, they appear to be doing very well whilst everyone else BHP included have seen their holdings diluted by almost 30%.
In fact he's so good he even got us to pay his fee.
I think it demonstrates what a good negotiator Sangha is, and how poor DC was.