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I see there is still persistent talk of an imminent sale.
It does make me laugh, but I suppose it will have to be correct eventually.
Maybe in about 5 years lol.
Serious question then, which is if some of you think the company is so desperate to sell out, why not just announce it?
Why would the company just give little clues, apparently making it obvious it's in the shop window?
I agree with Quady and the couple of others.
We are no further nearer a sale and I see nothing in this RNS that says we are.
I think those who are constantly analysing RNS' for the slightest hint that we're up for sale are only torturing themselves, I'm afraid.
Meanwhile, I'm looking to add some more dirt cheap shares.
anon, do you not agree that things have changed?
What do you think the merger and strategic review are actually for? Why would you need a review which simply concludes that production is the way to go? Why do you think Sangha, who appears to be the catalyst for all of this, is so bullish about the prospects for an exit? And bear in mind he's conducting the review and will be a significant shareholder in the merged entity.
Life is now very different and any residual dreams some people may still harbour about independent production are now firmly in the trash bin.
Addicknt did you not read what the strategic review covers.
It talks about how to finance Alpala.
It talks about reducing costs to bring Alpala to production.
It talks about the final updated mine design.
That is the main part of the strategic review.
Everything else is secondary as the latest RNS indicates.
Revised copperpot ,if you read it properly,agree regardings cashflow continues to drain at some pace with little or no action ,580 employees plus management salaries each week since funding time is running out ,no direction apart from cgp merger so a big for sale sign is getting bigger
Quady this will be done by someone else not solgold
Q, I've read it word by word and I understand what's being said. Perhaps you could explain the "shift in direction" comment from Caldwell? Do you believe that what he really means is that we're going to continue as before?
addicknt, I don't really think anything has changed.
To me, it's always been a case of the company will do what it thinks is best for shareholders overall. Which would involve constantly reviewing everything.
I would think it's always been the case that the company would sell at the right price, but noone has offered anything, let alone the right price.
Why is that, if the likes of BHP are apparently so desperate for assets?
Maybe they're waiting for the company to be on it's knees, just like it supposedly was a few weeks back?
There's no chance of that and it will just keep offering out little chunks, which could run on for years.
I think if there are any tiny little clues to be seen, it's most likely that it's obvious SOLG will not be sold until a proper bid is made and any amount of skullduggery won't work.
I could of course be wrong and a nice bid comes in next week.
But I know where my money is and it's accumulating more shares over time.
I'm no spring chicken and could do with a quick sale at say, 70p a share, but it's win-win.
We sell or go to production.
Either way, this is dirt cheap.
Addicknt the shift in direction comment could mean anything, it's ambiguous.
How about it meaning we are going to joint venture Alpala.
After all that is what is being talked about and it is a shift in direction.
pretty clear to me Quady as its in black and white within todays rns from SLOG
"As previously disclosed, the Strategic Review includes, among other things, evaluating and pursuing value enhancing opportunities for the Company such as:
· evaluating financing alternatives for the Company that endorse project value;
· a spin-out of assets, other than the Cascabel project, to all shareholders;
· the direct or indirect sale of an interest in the Cascabel project at prices that endorse project value howsoever effected; or"
This is a clear as it gets
BN.c
anon, I agree, this is unjustifiably cheap - but there's a good reason for that.
The announcement of the SR is the single thing which changes everything and is a very clear statement to the market that things are going to change, a fact Caldwell made crystal clear in his opening sentence.
The clues are all there and at some stage in the New Year we will hopefully have a few bob in our pockets with which to enjoy our dotage!
Q, indeed and I accepted that possibility as soon as the SR was announced. What it most certainly does not mean is a route to independent production. I think you'd have greater peace of mind if you simply moved on from that opinion.
Good morning BNC.
the direct or indirect sale of an interest in the Cascabel project at prices that endorse project value howsoever effected.
It says an interest in Cascabel not the sale.
It's talking about a JV to take us to production.
Q, the words "direct" or "indirect" don't mean what you think.
A "direct" sale would be the disposal of Cascabel as a stand-alone entity; an "indirect" sale means the sale of the share capital of SOLG PLC.
"It says an interest in Cascabel not the sale.
It's talking about a JV to take us to production."
Agreed Quady, it could mean anything.
It's just that some people automatically assume it means a sale of the whole thing.
And they always will, because it's what they are craving for.
I suppose it's this constant sale speculation that has kept this bb of interest for such a long time and I suppose we shouldn't knock it too much.
Meanwhile I take it to mean they will continue to consider any offer for either a percentage or a total sale, should such an offer come in.
Which is basically as it should be and tells us nothing new.
I'm really not sure why they came out with this news, tbh and the only thing that matters to me is that we have a new CEO. His SR is just an indication that he's going to get busy.
The fact that he's on such a low salary is interesting. I wonder how his pay could be performance based? What are his targets, I wonder?
A full sale? Hmm, I don't see that.
It would mean he has to put the "for sale" sign up with no ambiguity or clues in RNS'.
anon3, it's not people just "automatically assuming" anything. The bloke leading the strategic review, Bob Sangha, has publicly stated that his preferred outcome is BHP and NCM owning NONE of Cascabel. Yes there is a chance that he doesn't get what he wants, but given his track record and baseball-bat wielding antics of late, you can be sure he's going to be doing all he can to succeed. And success to him is quite clearly a sale of the asset to a third party, or a sale of the company outright.
Agreed Anon3 on all apart from our new CEO.
He is an interim CEO, not a permanent appointment.
I have a suggestion.
All the people that think a sale is imminent.
Could you please publish a date that when this date passes you will stop repeating this mantra, so that this forum can do away with this nonsense and discuss the way forward for Solgold.
anon, as I pointed out earlier, he is still described as the "Interim CEO" and there's no reference to finding a full-time replacement. Why do you think that is? As I also pointed out, there's absolutely no hint we're looking for a full- time CFO.
How does a company expect to be taken seriously in the long-term if it doesn't have full-time people occupying those two roles?
Q, Let me try to frame this for you. So they have now delayed the DFS, PFS2 and Provenir. Means they massively reduce the budget they had in the MD&A from $80m+ to maybe $35m. Means they have enough cash to get the best result from the strategic review. Them pushing out the DFS just means no production. They also have said that multiple times that these studies are useless. You would only say that if you do not intend to go to production. Think merger in Q4, stake sale of CGP shares in Q4/Q1. Full sale of ENSA/ Solgold in 2-4 months!
Q, you don't really need to reply to my message.
A point here is that you always claim that you are just listening to what the company says, the rest is noise, and on that basis you conclude that SOLG would keep going until it goes to production, UNLESS someone pays up for the company.
Fair game.
But if the narrative changes, production-related initiatives like the DFS go to the backburner, and the messages from the new CGP masters point to the solutions listed as possible outcomes of the review, why do you apply a different standard to this narrative vs the previous one you have been banging about ad nauseam?
JMI - agreed on all that. But PFS2 has been canned altogether, not just delayed. Despite this from our Dear Leader Quady this morning:
"ColonelDrake of course PFS 2 is not dead in the water.
That is how we reduce costs for Alpala.
Try reading.
It's delayed no more than that and required for DFS."
Can't wait that long...
Surely the stake sale will come before the merger, otherwise the shares go into Treasury and can't be voted at the AGM...
SM...I suspect that PFS2 would not have improved the numbers due mainly to weak copper prices and inflation...
It doesn't add anything, nor does canning it delay DFS, but...
We won't get that far...
TheItalian - because he cannot stand the fact that he's been fobbed off by the company for the last 5 years or so and bought the "we're going to production" line. He can't stand the fact that he's trolled this BB, claiming we're all idiots for investing in a company and not believing what they are telling us, and now we all know that they were bluffing the whole time. If he was a man of principle he'd sell his investment here, as by his own mantra you shouldn't invest in companies you don't trust to be telling the truth. How he can claim to trust Solgold given the fact he's been hoodwinked this entire time is baffling.
Red I read todays news as
We’ve decided not to waste any more cash on studies that won’t be needed anymore. This should be applauded ……. Why would the addendum and MRE2 no longer be needed ……. In other words we have enough money to Bob along until Sangha executes “the plan”
Agreed...np mention of drilling...anywhere...