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Hey what happened to all the old time stock pimps? Or as I think you refer to them as (rampers?). I miss all their £2 lies!
They're all still here , yet the £1.32 and such has been reduced to they haven't got a clue. All just clutching at straws hoping for a takeover. , without one I have no idea what they'll be saying. I suspect thew same old drum will be beaten until the final outcome whatever that may be. I don't think it will be good for anyone I. above 22p. My average is 26 , so expecting a long wait and a big loss here.
for anyone in above 22
Still here chump change - have an absolute bag full of these - bring on £1.32
Hey Mystique,
All good ….. love to see one single post where I’ve put a figure on this ….. glad to see you’re still alive and kicking and not at all bitter
Keep the change :)
Mystique, morning still here for my £1.32!!!)....I wish!!!:(:(
Mystique…. By the way I still think we’ll do ok here
Clean slate now ….. but they only get on more chance IMO to get this right
Always thought we will get north of 50p, now I'll take 30p+. Too much wasted water. What a waste, what a waste.
Yep sadly your probably right there think 50p might be achieved at some point for cascabel but indeed they have messed things up here ,can only sit and wait now I've changed my exit point
That's what dilution does for you! It also explains why we should forget about raising any more cash.
Set up newco for the rest and give us 1 new share for every 1 we currently own, flog Cascabel for 50p (1.5bn) and divi out the proceeds. Result: happy shareholders.
Continue to wibble-on about production and finance; endure endless dilution, make a total balls of it and watch the sp collapse. Result: very unhappy shareholders.
Take your pick, Mr Caldwell.
Btw, what's the betting this is what emerges from the SR? And just think, the company will have spent millions reaching this conclusion when they could have got it free from us.
QP, in which case they've spent six months twiddling their thumbs and lying to us. Heaven forfend!
Btw, in an attempt to get to the bottom of the FH issue, the other day I emailed him. I haven't received a reply and I note his name wasn't on the yesterday's RNS. So, perhaps he has been given the heave-ho, in which case that only leaves one person in the London office. Must be quite lonely.
Add - if no offer emerges then the spin out will be what they explore next.
Only difference is that it will be about 1 newco for every 10 Solgold. So they can start Newco up with 300m shares at about 10p and then raise a slug of pre IPO funds. Chuck in a rights issue and newco comes to market with 600m shares at 15p and values Porvenir plus the rest at about £100m.
Bozi, agreed. I meant to say 1 for 10.
Good afternoon QuadPiece. Let them head for the door I say.
Using that example of a 15p NewCo at IPO - that company's shares could be sold off to 8-10p by those not wanting to play the regionals. All NewCo has to do is go easy on the newsflow for a month or 6 weeks post IPO.
That slack will then be taken up by new investors who are happier at the price to roll the dice on another Cascabel type story.
You see it all the time with the less exciting IPOs. Private equity backs out and clears the decks for the next group of investors.
The problem with Solgold is that a lot of investors bought the stock to chase a takeover premium. There's more ways to skin a cat in the resource junior game. You just need a commodities bull market and management who knows what it is doing.
Quadpiece - you can adjust the NewCo valuation as you see fit.
Say 60p Cascabel. Same 1:10 NewCo plus 1:1 rights issue but NewCo gets priced at 5p or £30m.
Sellers send it to 3p and we're effectively reset to prior the Alpala discovery.
Agree Quad,
Not just companies but I would add most Governments to be honest, and the UK seems to be lacking on strategy for most things.
Exploration is where growth comes from. Profits come from selling those discoveries. With a. folio of over 60 licence blocks, I find it impossible to think SOLG cannot make another Alpala size discovery.
All they need to do is a get a sizeable transaction completed on ENSA and then suddenly the market will believe and see the strategy of 'next cab off the rank' in full working order. Suddenly the market begins to look ahead and see's several cabs being pimped up ready for sale. Suddenly Porvenir looks valuable. Excitement and interest in the NewCo based on just 10 high growth exploration targets/licences (we don't need 60!)... would be massive.
You have to remember that if you fast forward to 2024 or 2025 and picture the copper shortage looming or 'arrived' alongside SOLG hitting some big holes on various drills with the market already knowing ENSA sale success... it's self propelling.
But first they have to prove that there is a rainbow at the end of that exploration success. Without it, the exploration becomes pointless.
I expect Scott and co to be wax lyrical in the coming weeks now they have their eggs in one basket.
Fortissimo hopefully not that long tbh ,am expecting good data from Asia next month kick start demand for rare minerals and demand from others for mining assets like solgold
Colonel, I DO like your optimism and believe your expectations are realistic, After-all, we already have a Tier One. plus Pornevir and possibly more? We had world renowned Geologists who had already identified tenements with potential, in great strategic positions on the spine of the precious metal rich Andes. Just look at the miriad of deposits (Au, Ag or Cu) and mines from Punta Arenas through to Columbia and northwards!
Hopeful, or am I clutching at straws that this can still come good (50p or more?), LOL!
Quadpiece, such an honest opinion at 16H28 today. Appreciated!
Not the old Slug, LOL!
Some good posts on this thread - agree that a NewCo with our portfolio ex Cascabel would be an attractive junior explorer play.
Thinking back to the financing for next year to be announced in H1 in connection with the SR.. I wonder if the sale of ENSA is what is being alluded to here, e.g. some of the proceeds returned to shareholders and some used for exploration.
When it comes to the idea of a new company spun out, that has all the regionals in it… people seem to forget, or ignore, or not take in to account, the circa 450 million dollars of spending commitments that are contractually attached to these tenements…. Any company spun out, immediately inherits those same financial commitments.. and those tenements already have, use them or lose them, time limitations on them..
Our managements years of endless dawdling and feet dragging has consequences behind just Cascabel.
Beyond.. not behind
Ortherncopper,
I think the company has already alluded to the fact that the concessions/licences will be reduced with focus on the most attractive or regionally important etc.
I think you have to look at the exploration company as a NewCo (like sharketMare mentions). It then becomes more aligned to something like Sunstone or Solaris. CGP have a track record or farming out licence blocks early stage and retaining a free carry eg Bramados and as we know 15% ENSA.
I very much doubt the NewCo will follow the old company ways of financing through equity raises. So I guess if I said to you here's the following... would you invest... what would you say or could you find a better small cap with better opportunities??
Here's the NewCo credentials (minus ENSA which hopefully is sold for 50p+ and return to current shareholders.
1. Porvenir (to be sold or JV'd or bundled in with package see point 4??)
2. 10 high priority Alpala look a like targets (some retained on 100% basis, others partnered.
3. 15 farmed out or JV deals on grass roots
4. 15 Licences either sold as a package or part of JV in
5. 15 to 20 licences to be relinquished.
Personally, I would invest in that NewCo as market cap likely to be around $150m to $200m due to Porvenir and high impact targets etc but clearly has potential till to grow to $900+ on any major discovery within a 2 year period. So possible 3 to 4 bagger with some dilution along the way for usual Admin salary costs etc.
Also - What I would really like to see is an RNS that drops into mail boxes that says ENSA sale done for XXp and funds to be distributed to shareholders ON THE REGISTER as of DATE on prior day. Thus that excludes all those sitting on the fence, all those that bailed or reduced and rewards the long term holders for .... holding.
Now CGP have their SOLG shares, I wouldn't rule that out.
Let's get ENSA sold and then I think you'll have less to worry about and more to look forward to.