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These are the boys to follow in getting SOLG sold.
Irwin is closer to the action than anyone else.
COMPLETED-COMPLETED-IN PROGRESS are the key words for me.
I am just hoping that the bidding war starts sooner rather than later.
All to play for now.
Totally agree
Impressed with recent events…. Time to get fully behind the board at the upcoming AGM
BHP / NCM most likely seething
Considering the connections between Sandeep (co founder of maxit) and current CEO of Osisko, it's borderline 'insiders' deal. I said a week or two ago that I would have been disappointed if the 6.7% CGP SOLG stake got placed at a discount to someone like Maxit. Maxit sold out to BHP at 25p many moons ago so the idea they could get back in with a wedge narked me. So the royalty deal (in effect) is an another way Sandeep seeks to gain. No problem with that apart from the fact that it potentially looks like a bridge loan... SOLG have facility to buy it back (most of it) or future buyer. Now if Sandeep (closely connected to CGP guys) knows they are selling out to a buyer (post strategic review) then he's effectively loaning that $50m and securing it against royalties but firm in knowledge that someones going to be buying it off him.
You see... when certain 'money men' see the green light for a monetisation or disposal.... often you see a bit of nest feathering going on before the event. Ugly I know... but that's the way it is.
Maxit or rather Sandeep... very much involved here and bodes well as these guys are smart cookies as is Mather and no one will be getting SOLG on the cheap post PFS2.
Fortissimo,again your correct there they want top dollar imho
Brighter start to week . https://youtu.be/95K4phDex3U interesting channel for free investing info . Can Solg price keep moving up .
Fortissimo
“ Sandeep Singh, President and CEO of Osisko, commented: “We are excited to partner with SolGold on one of the best copper-gold discoveries made over the last decade. We believe that Alpala has the potential to become a Tier-1 asset with a much longer mine life than currently envisaged. SolGold was a first mover in Ecuador and we view the broader Cascabel property as having the geological potential to support significant further discoveries. Osisko’s investment in SolGold adds yet another high-quality royalty to our portfolio of peer-leading growth.”
No wonder they’re excited….. wonder if they’ve got the heads up on PFS addendum or a little glimpse at Moran ??
Both dbw....watch what happens and enjoy ,our time is nearly here gla.
The way I see it, SOLG either sell ENSA and retain the exploration folio or they sell out lock stock and barrel. We know what lies ahead in the future regarding Copper. But just let that copper shortage soak in a bit... yes Alpala will deliver a bucket load of copper/gold and pm's over the next 30 years+ but SOLG's folio is second to none in Ecuador. Remember permits are hard to get and likes of Fortescue (second largest licence block holder in Ecuador) have already had problems with eco warriors and indigenous communities. So ironically, it's the untapped SOLG folio that is likely to be the most valuable part yet the market values this at close to zero due to lack of exploration/discoveries. Alpala will not solve the globes copper shortages. But throw in RIO and a few other targets in SOLG folio and you then have a mining nation and Ecuador are ready to take that step give or take a few hurdles which Lasso is taking care of.
The strategic review may well result in the conclusion that they will seek a buyer for ENSA. Shock horror not! But the interesting part of the review might well deliver the forward story which will indeed see SOLG try and rinse and repeat via exploration. Some investor won't have the appetite for another 10 years+ to see something along lines of Alpala, but what if SOLG change strategy and drill some licence blocks, bank some great holes and then sell the blocks on long before any talk of production emerges?? Each one of these early exploration finds could be worth north of $500m. And the regional foil could have 10 of these with ease.
Now funding sorted, all attention moves to PFS2, Porvenir PEA and the long awaited conclusion to the strategic review, which if you want my honest appraisal was finalised and agreed some months ago lol!
Should be an absolute stonking end to 2022 for SOLG with all action coming in last few weeks. Had to wait a while... bt it's coming alright.
Very exciting end to year coming Indeed fortissimo will we see all time highs this year
More from Mr Irwin
https://twitter.com/bigdude6669/status/1589603061261291521?s=46&t=RKhbf8PMXtPl1Bxb4G4s3Q
Courtesy of slug
“ When selling a company, the key factor in determining what you get is the level of demand for the asset. This is a top tier asset as indicated by BHP’s, Newcrest’s, Franco’s and Osisko’s involvement. Copper is in demand. So we will see what happens.”
Pretty much everyone knows this is being sold
DBW - you seem keen to parade the "this is being sold" as some sort of trophy, while seemingly. Missing the fact that the share price can't even bear and hold 20p even on the back of today's pressure-easing news.
Warren can say as much as he likes but it's worth remembering that he and CGP holders have received one premium. It makes less difference to them what the SolGold one ultimately is.
I'll only be pleased about direction of travel when we're actually in a position of strength. As it is, we've seen the markets lift quite considerably and the company secure 6-9months finance yet the market still doesn't trust the story we all do.
Lol Bozi
No need to “parade” what is blindingly obvious.
Nick thinks it’s being sold. Irwin and Sangha think it’s being sold. We are in the middle of a strategic review….. just doing the maths .
Anyway a good day for everyone and a gradual rerate on the cards which could be accelerated with the right news
DBW - I was looking for a better way to get that feeling across and failed miserably. I agree with you in terms of where everything is pointing.
I'm just a bit miffed that after now ridding ourselves of the monkey that was on our backs (as Twigger alluded), we're still being heavily discounted.
We need to get back to that 30p+ level that a few have spoken about and start looking for targets from there.
One thing is for sure, not many have BHP, NCM, Franco and Osisko on their books. What else will it take before something gives?
Agree Bozi the sp is a bit of a joke . We needed to clear the funding overhang and it now means (hopefully) the CGP shares can be placed at a premium to what could have been achieved last week. I honestly believe this is only the start of the news and this is just another piece of a plan that has been many months in the making. All of the recent news has been largely unexpected ( and very welcome) and this may be a developing pattern.
You could almost say BHP are now being backed into a corner
Bozi , I know its very frustrating a few years ago Todays RNS would have produced a 20% uplift at least, but it would appear whatever good news flows SP's in this sector remain muted. Ie GGP, Condor, Xtr, Cobra to name but a Few although AAZ seems to be slightly gaining some ground back (but along way back to its £1.80) Maybe lack of production in China due to covid?? Can't see MM's holding entire sector down. Wish you all luck. (Invested, here when Tony Blair was PM)
Bozi,
Give it a chance. Does it matter whether it takes 2 days or 30 days to get back to 30p+? I'd prefer the latter as imagine we need to drop a few newbies off at the poo, before flushing a few more out at 22's.
You were told funding was not a problem and still chose to see all the negatives. Now SOLG have proven that funding was never an issue, you're frustrated that the sp hasn't done cartwheels today?
The sp was at 21p/22p after the CGP merger news RNS. We then slipped back after blackrock selling and focus resumed on funding.
Just be patient. What's not to like now? No funding fears haunting us and PFS2 and Porvenir PEA to come along with strategic review results.
SOLG could be 25p on Friday. Or 18p. Does it matter? Not really. What matters is where we are after PFS2, Porvenir PEA and strategic review news. If we are still sub 20p then I will be very surprised. But US markets are being artificially raised purely for mid terms. Happens every time. So market backdrop could still play a factor as post mid terms, US markets might take a turn south.
Fort - yes it sort of does.
On one hand you've got Irwin imploring SOLG management on. You've got PIs like SeanHunter and others baying for a sale at the soonest possible moment.
So yes, yes it does matter. We're running out of time.
Patience isn't an issue for me. If I had my way we'd publish the PFS addendum and the PEA for Porvenir. We'd take the drill bit over to Helipuerto with a few quid left over from the CGP placing, and we wouldn't entertain any strategic moves for 6-12 months, minimum.
But we don't seem to be. The share price is sub 20p and SOLG investors are crying "sale, sale, sell it now". It would be an awful result given when we expect the demand in copper to truly materialise.
I'm not saying SOLG should raise £3bn and go it alone, I just think the next 12 months is the time to hold em and not fold em. We'll see on that score.
I'm sure you're now getting the point Fortissimo.
I called for initial funding earlier than we got it and I advised caution over another royalty deal in light of Darryl's comments.
A lot has obviously changed in SOLG towers in recent weeks and the merger has probably been the catalyst for much of it.
It is still important we start 2023 with a renewed energy and higher standard of management. We cannot afford another 2022 given the lie of the land.
That is my opinion, as negative as you wish to call it.
Bozi where has patience got us? Could have been out the door in 2017 at 46p.
We need to sell, we have no other option .
When we burn through that 50 million, what then?
The market isn't interested in us bumbling along either into production or just as we are, it doesn't cut it anymore which is why 16p is already calling again.
So yes, I want a sale. Time is not on our side, and a rising copper price won't make a blind bit of difference. I'm a shareholder that wants a return now, not a 20 year journey into dreamland.
Bozi,
You said a deeply dilutive equity raise was coming not to mention a bucket load of doom and gloom.
You got it wrong. Are you deluded or something? You are now claiming you called it right?
We are not running out of time... we are fully funded for what looks like 8 months+.
Get a grip you've been wetting yourself for the last 3 months for no reason at all.
Sean - unlike yourself, from what I can tell, my primary focus is not to extrsct the largest profit in the quickest timeframe. I'm not a trader.
There are a couple of different options, but a sale is the one that really appeals to you. That's fine. All I'm saying is that you should be wary of calling for it now.
Let management get the updated reports out, maybe put together a targeted regional campaign for 2023 and gradually build the competitive tension back up.
Because one thing is for sure, pushing for this sold in Q1 23 is going to lead to a sub optimal resolution for us all.
People, please, please, please think what you are doing. If you put the "For Sale" notices up now, we sell Solgold cheap!! We have been sitting on our piles of Solgold shares for a long time now, some longer than others. We should all be saying Alpala is going to production and be supporting the Solgold board with that which is their stated plan. Now we are funded, at least we can carry on towards that goal, If we are taken out on the way at least it should be for a decent price. If we stop building the mine and exploring we are not adding value to our share holdings, therefore we are basically saying "We are having a closing down sale". Is that really want people want? Do we really want to Solgold's assets for next to nothing? Let's build the mine, and at some of our other sites, and if someone wants us let them pay a decent amount for us! The share price will grow and if people want to leave on the way that is up to them, but they should get a decent price. Remember you nay sayers, the share price has been to 40p several times over the years so if you really wanted to take your profit you should have done so then!
Frog
Fort- I said it was a possibility in light of the assumption that further streams were off the table. What was I supposed to think? It was only you who bandied around your "£100m for 1%" deals like SOLG were going to take one off everyone.
I said my outlook would change when funding has been been sorted, and with the last 2 key announcements (today and the merger) it has.
The difference between me and you is I'm capable of seeing headwinds for what they are. You just want to be obnoxious and obtuse towards anyone who isn't banging the uber bullish drum 24/7.
Dart, production is no longer the stated plan - it's simply one option currently being reviewed. Life has moved on.