Firering Strategic Minerals: From explorer to producer. Watch the video here.
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According to that presentation Blackrock added 0.21% to their 5.31% holding.
Very Interesting especially as they would have known an equity raise was in discussion.
Follow the big boys! Norges at 3.95%.
The presence of these two should give us a great deal of comfort - they ain't about to give it away.
Samuel Holdings we’re at 4% ?
I thought that wasn’t just Mather …. Or is that a crossover
For the avoidance of doubt, this is an exact transcript of what Nick said at his DGR Noosa presentation...
"the model we've been following successfully for some years is to create companies around very very large resource projects and then ultimately majors seem to take them over and thats certainly the plan in respect of Solgold..."
So the literal implication is:
"to create companies...and then majors seem to take them over and thats certainly the plan with Solgold..."
Surely...if he's gone in December (and surely thats a racing certainty), he needs to make his and DGR's pile before then because the norm is for a leaving Director to be required to sell all his personal shares and after he leaves the Board he cannot exert anywhere near the same influence because he would no longer be privy to 'inside information'...
Blackrock and Norges Holdings correct as of June 30th. So they may have added more in July although for balance... (before I get Bozi'ed) they may have reduced too.
But clearly a good sign to see Blackrock adding stock and Norges near 4% especially after the Ecuador wobbles which happened in June and ended in June.
Blue finish???....
Hopefully.
That didn't last long
I'll never pick you up on verifiable facts Fortissimo.
Unsubstantiated ramps however... ;-)
Bozi, don't worry about ramps or deramps, bb's are full of bullish posters and bearish ones.
What do you think of Blackrock adding? Do you think they share your concerns over risks or your general negativity on SOLG?
Nothing in particular Fortissimo. I'm pretty sure when they buy or sell any SOLG stock or open/close any instruments that their whole rationale is based on whether the stock. Is getting taken over or not.
If they're increasing its because some of their fund managers think we're cheap relative to the market and the business meets their fund objectives.
They don't get it right all the time though, so I don't base my decisions on Blackrock's moves.
*is not based on whether the company is getting taken or over or not.
For the record, Blackrock's 5.52% holding is as at 30 June 2022...
Bozi, as I thought... you see no merits out of Blackrock or Norges adding. I wonder what you'd have to say if Blackrock were reducing?? Perish the thought.
CD, let me get this straight:
Blackrock buy more shares: follow the big boys
Blackrock sell some shares: they're working for BHP to keep the price in check
This topic has been done to death on this board. Reading anything into Blackrock falling above and below the 5% threshold is a waste of time.
Quite, SharketMare.
Perish the frigging thought.
Bozi's approach to his investment here is better than just clinging to a hopium-fuelled belief that this will get taken over by a major for a huge premium "because that's what happens to tier 1s"
Considering the risks and the potential downsides instead of only looking at upsides and closing your eyes to negative outcomes is something we should all be doing regularly. It doesn't mean someone isn't invested or has an agenda.
Absolutely agree - always wise to assess the pros and cons. But in Bozi's case, as exampled by plethora of negative posts, I'm keen to understand the positives that he sees in SOLG. Unfortunately, Bozi seems to be struggling to acknowledge the positives. I don't mind posters having negative views but when they simply refuse to note positives it tells it's own story.
We've all gone through phases where we are more bullish or more bearish than usual. But the SOLG story hasn't changed one iota from the days we were at 40p and Bozi and others were cheering with joy. Nothing has changed at all... apart from the share price!
And ShareMarket... yes, I am surprised at Blackrock buying more SOLG as past events show that they tend to reduce when they see equity placings or higher risks mounting. On this occasion they seemed keen.
Anyway, I best you leave you all to your private telegraph group as get the feeling that I'm ruffling a few feathers. Is it 3 knocks on the door or just two? Hilarious is an understatement.
That's simply not true Fortissimo. The following has changed in no particular order:
1. Copper prices have softened significantly and may come under further pressure if we see a global recession
2. The recent failed fundraising exercise sees an increased level of financing risk for the time being when frankly we can do without it, especially if we're on the cusp of a change of control as many believe.
3. We are seeing hypothetical timeframes far into the future being pushed back by the company
4. Our Interim Head of Corporate Finance and Metallurgy Manager has left the business under a cloud with no explanation to shareholders.
5. The decision not to raise funds around the release of the PFS and the subsequent failure to raise them now impacts SOLG heavily in its ability to execute its exploration blueprint throughout Ecuador at a crucial time when management needs to be adding value to the company.
Please, tell me which you disagree with.
If SolGold manages to raise sufficient finance for the next 12 months on reasonable terms I will of course re-evaluate and will, I'm sure, be more bullish about the stock.
Until then...
In fact Fortissimo, I find your last replay out of hand. When have you ever, either in this reincarnation or during your time as the revered Colonel Drake, EVER acknowledged a negative of SolGold?
The positives are glaring and are known to those who know and keep up with the story. We have a super looking asset in North Ecuador, the no 1 ranked undeveloped copper asset in the world according to Cambrian.
We have another growing discovery to the south that has really good prospects and is not yet the finished article.
We have another 12 or so regional projects that could be absolutely anything. 12 shots where the dream is alive all over again.
We have the world's biggest miner by market cap and one of the world's best block Cave specialists on our share register, along with some good other institutional support.
We've recently built an experienced board of directors and senior management team that have the experience we should need to progress our assets further.
The macro for the commodities we have are expected to strengthen in the medium term as we venture towards copper deficit and start to see gold produce level out. Discoveries like are in in high demand.
Those are the positives, but do they tell the whole story? Do they?
Bozi, I've been less than complimentary toward SOLG and management numerous times. Yes I'm bullish of late and I've explained why but essentially it comes down to SOLG being pushed toward monetisation of assets. As for you concerns, I don't think you can apply gold or copper pricing to SOLG today when development not likely to commence until late 2024 and production not until 2029. Copper forecasts are what you should be looking at not today's prices. Most market observers see a huge copper deficit in around 3 to 4 years time. You know all this. The new CFO was appointed back in June so not sure why you are surprised that the old stand in CFO has gone? Or did you expect to retain him too? Failed fundraiser clearly a concern but then we don't know why it failed do we? Was it due to underhand tactics by BHP and co or was it due to other factors? As for delays to PFS, DFS and timelines slipping... I can't defend that and agree it's annoying but it's highly likely that whoever takes over this asset will be changing the PFS and timelines to suit their own Capex capabilities. None of the above is a major concern. If we can't get funding to see through PFS on good terms then the option is to put the business into a strategic Review (eg sale process). Then lets see who wants a slice of SOLG's world class Ecuador folio.
Finally... not sure where you have got the 'change of control' concern from but would agree that as the AGM in Dec nears, the likely result of that will be a number of directors getting the boot and a number for new directors being appointed. That's a worry but BoD's have proven to look out for themselves and I doubt they'll head into that AGM without uttering some worlds like .... in discussions with number of parties about a possible transaction on ENSA blah blah blah.
Have a good night
Fortissimo - you're right in saying we're in the early stages of development now and shouldn't worry about spot prices but look at tne market around you. Earnings are impacted by spot prices now. Finance terms are impacted by spot prices now vs project economics (amongst other things) and not what we think copper prices will be in the years of maximum throughput. That's how it is.
I didn't expect Ingo to stay personally as the role redundancy was evident but I'm at a loss to explain why Lisa Park has also left. That's the source of my concern there.
I don't know why the raise failed. The market doesn't seem to care much either. It's just bothered that it has. That's not specific to SolGold. It's a generic reaction I've seen many times before and it stems from the uncertainty of the funding, rightly or wrongly.
I can't help but feel we need funds ASAP. If you diced up the projects tomorrow you've got Cascabel that carries immense value and Porvenir that is it's baby brother. Aside from that what do you attribute to the rest? If we were able to verify the belief that Warintza extends into our ground at Helipuerto then value gets created once again.
Please SOLG. Get onto the front foot and off the ropes. Thats all i ask.
It's a bit unfair that the widely accepted fortissimo previously known as ColonelDrake is allowed to keep posting despite him being previously banned for trolling the ggp board.
If that's the argument Lunch Money, which I appreciate it may be, then the company shouldn't put out slides in presentations saying that discovery is the key value driver, or words to that effect.
We'll see what materialises on the various fronts but now is certainly the time to take the bull by the horn and not be scratching around like a sitting duck.
"not be scratching around like a sitting duck."
Unless of course they want to .