Firering Strategic Minerals: From explorer to producer. Watch the video here.
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I think the recent presentation might well shed more light on the SR outcome than first thought especially if you buy into the spin out and ENSA sale theory.
I think we might not have heard the last or the Cornerstone name... as reckon that might be the subsidiary that they use for the spin out assets due to the 5% SOLG holding being held within that sub.
Makes perfect sense as after spin out, SOLG will be left with just ENSA and possible a few regionally strategic licence blocks inc Rio (eg in north). Sell SOLG for 60p (just an example) and return cash that way with SOLG ceasing to exist as listed company. Then issue shares to shareholders in cornerstone sub which based on 60p ENSA/SOLG sale will have £90m in cash already on the balance sheet.
Fully funded for another run at discovering a Tier1 asset and essentially a return to the original format under Cornerstone Brand. Literally full circle..!
Assuming Porvenir and others all included in new company, you could see a market cap of around $300m with $130m being cash from SOLG 5% asset sale (as above). That might help part fund Porvenir through to PFS/DFS before partnering for full finance.
The recent presentation shows focus on
– Porvenir (greenrock sub) in south near chinese assets
– Rio Amarillo (Carnegie Ridge sub) in north near ENSA assets
– Helipuerto (cruz del sol sub) in south east near chinese assets
So basically they've picked one priority from each sub with 1 possibly to be bundled in with ENSA (Rio) and the other two to be in south suggesting the new spin out might well focus South only.
All conjecture and joint pieces up etc but the above scenario works well from value realisation to building a company focus in the south where bulk of infrastructure is already in place and JV's more likely inc Bramados, Warintza with Solaris, Sunstone, Lundin Codelco and so on.
Fort, interesting idea. It has a certain neatness about it.
Of course, the company would have to seek a new listing, but I can't see why that would be a problem.
Would potentially negate the need for any new equity finance too as 5% sits within Cornerstone sub. I'm not saying that there would not be future placings or cash raises but the idea that they could pursue an aggressive exploration phase with the NewCo would surely see a typical flighty share price as hit a few nice holes and we would be off to the races again ... Part Deux!
Let's see what they rock up with but I would certainly be happy with keeping a stake in the newco for future events rather than exiting completely. But much depends on the ENSA sale and what is handed back to me for the my SOLG shares.
Consistent buyer at around 53k
Few selling too
I noticed those too DBW and wondered if they were B&Bs...?
Six month chart (since announcement, basically since 'new direction') shows this is about our ceiling for now, so today's selling is no real surprise. Bounce around here a while. Same people as always got giddy last week and tried to whip up a frenzy, but nothing much happening. Becoming quite a good spectator sport to watch them breathlessly ramp every time we return towards poor 18p! So long as sensible readers know it's meaningless bluster, we're good. Stick it in a drawer, wait a year or so, enjoy a TO then. Trade if you must, but be careful not to be out when this sells. Don't fall for the rampers pretending it'll be this week, month or year. They've said the same for years. Yawn.
"Stick it in a drawer, wait a year or so, enjoy a TO then. Trade if you must, but be careful not to be out when this sells. Don't fall for the rampers pretending it'll be this week, month or year. They've said the same for years."
Surely I'm not the only one who sees the irony and stupidity of the above? I'll paraphrase:
"Don't listen to the rampers who say this will be taken over this year, listen to my just-as-rampy statement that it will be taken over next year"
Not the sharpest tool in the box, but a tool all the same.
im pleased i picked a few up at 14p, i can wait till a takeover occurs , this year or next it matters not a jot to me, your either in before its announced or you try and get on board when the Stamped starts!!!!
By definition, rampers make statements with the express purpose of inflating the sp.
I don't think anyone reading my summary would see that agenda.
Why so angry, SM? Don't worry, the rampers will pile on anyway so your aggressive message will soon be buried.
"be careful not to be out when this sells" is straight out of the stock ramping playbook. Amusing you didn't clock that when writing, and apparently still don't quite get it.
I don't own that playbook.
SM, just for the avoidance of doubt, have you got any old message chastising Red/Fort/Bubble for brainless actual ramping? My expression that LTHs maybe shouldn't sell if they wish to guarantee they are present for any future possible TO seems to have drawn your fire, bizarrely. Just checking you're as tetchy with the actual rampers who do nothing else, day-in, day-out? Kind regards etc.
Lol probably because in your rush to bash those who favour a TO outcome you seem to have all bases covered so you possibly could not be wrong ..they might be wrong but in being critical of them you sounded ridiculous !
Read the room 1981... lol
and repeat after me: "I don't know s***".
Don't worry, you are in good company, right now especially we all know s***!
"you sounded ridiculous".
You've read their posts, right? Just checking. And I'm the one who sounds ridiculous? Okay...
I've read the room. It's full of rampers and their hype men. Which are you, out of interest? They are really, really easy to wind up. Particularly when their baseless ramps get disproven. Last week we were 'off to the races'. But we never broke out of our 6m channel, and now we've lost a few percent, because nothing's happening.
And yes, you're probably right that I win whichever way. I get a tasty profit if a TO comes in soon, or a tasty profit and the satisfaction of being right if it takes until next year. And if it doesn't come, the rampers are even more wrong. It was a pretty easy position to construct, and a delightful place to sit now. Happy days.
198, what is your grudge, really, and what is it that you win?
There is only one thing to win, and that is based on the level at which one buys and how the price moves.
Live in peace, or leave in piece, but mostly leave us be, we have been around this share and suffering long enough to really need another angry poster.
The Italian
As is so often , the voice of reason