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But not the one we are waiting for.
Looks like we spent $1.5m on CSR related activity in 2021. I wonder whether that has been curtailed this year along with our exploration programmes. For context, we've spent just under $4.5m on CSR since 2013. Big ramp up in 2021 it seems.
It's good news they've persuaded people to go all the way to Ecuador, but what this tells me is this: we do not currently have multiple options for financing i.e people already lined-up and ready to push the button, and in fact are still in the process of trying to get investors interested.
We went to market and, for whatever reason were rebuffed, and now we're back to square one.
I don't see this as a negative because it would indicate that we've got a structure in mind that I think we assume has the blessing of BHP/NCM.
I see this as a positive, ii’s is something we all have been hoping for, if they are turning up then that is a very big positive to me
RNS say’s (SolGold is pleased to host a site visit for analysts and institutional investors at its Cascabel project in northern Ecuador on 26 September 2022.)
They won’t be turning up just for a jolly imo
"we do not currently have multiple options for financing"
I'm not sure I would arrive at that conclusion? But in theory they did a site visit for Boliden .... then it would make sense to do a site visit for II's too. Otherwise that's not being very balanced is it?? Also, 'analysts' are included so that acts as nice bit of PR too which one would hope wakes up this market to the full potential of Alpala. Interestingly, the presentation has DFS finance starting in Q4 2022 so that would suggest that they might be looking at getting the main catalysts out there in Porvenir PEA and PFS2 and then doing full DFS raise which would act as a full 12month finance package.
All this has to happen before AGM imho but likely (as I hinted before) that it might require a vote at AGM if strategic partner brought in.
Expect another RNS shortly imho gla
Fort, if we did we wouldn't be doing this site visit.
Incidentally, in the normal course of events this type of potential investor interaction would be for the purposes of persuading people to invest in the market, however, that's not the case here. No one will buy in the market when they know a fund raise is just around the corner.
Fort, the one part of my post I would have picked up on is my assumption that BHP/NCM are onside. In fact, it could mean the exact opposite and this is an F*** You gesture by DC. Who knows?
Seems ironic that in the final picture, about communication, six people are looking at their phones or talking to each other while the presenter is talking...
Ouch!
This is a visit for analyst's and institutional investors.
Analyst presence to me means that they are doting the I'd and crossing the T's .
I don't see why analyst presence would be present at the beginning of a fund raise.
This is something else. Maybe we are looking at the first assessment for the Alpala build.
It could be the updated PFS is finished, but now the sanity checking is taking place.
I struggle to see any significance to this RNS… there is no information in it…
To me this smells of a desperate need to release an RNS containing something, anything, to be seen to be releasing an update… very odd.
RNS are released because of regulatory information that needs to be disclosed.
addicknt, the clock is ticking and just over 4/5 weeks left before the AGM resolutions need to be put forward and shareholder informed. It will be November in a flash and AGM in DEC. October always flies by. Must be a daylight thing!
We are as they say finally arriving at the sharp end that we've waited for so long. Some might say we are in a shabby state. Others might point to the fact that we are approaching a very robust and likely uplift in the PFS which is a defining moment in the companies history.
Plenty of ways to loo at it positively and negatively but one thing that is impossible to ignore right now is the markets in general and the plonkers that are running the government. The latter seem on a mission to line as many rich folks pockets before the next election as they know they are OUT then. You'd think after they lined all their covid related from buddies pockets, it would have been enough... but oh no... they want more!! Lets just give away $50m to some ferries firms that we have no intention of using? It's just a contingency!!
Q, this was a Reach announcement not an RNS. It's for guidance/interest as is not a regulatory requirement.
Actually it includes a very much revised presentation, but adds nothing...
Meanwhile the website is still advertising last week's Denver conference...
Who's at the wheel...apparently minor errors indicate that people have lost their motivatiobn...
And the presentation on page 3 talks about
"Strategy : Applying the Cascabel blueprint for further discoveries in Ecuador" - yet they have stopped exploring.
look, another perspective. what is the worst case here (including losing it all)?
It's all become very unprofessional at SOLG they have totally lost the plot from what I have witnessed of late, shockingly poor management
Yes you all wanted Mather out . well now look where we are.
Erm nope... we all wanted Mather in. It was BHP and NCM that wanted Mather out. Mather is still on the BoD's BECAUSE pi's wanted him there.
Good morning Medar.
I start by saying I don't believe this would happen.
So worst case scenario for me.
Solgold have lied we have manipulated the figures and a large quantity is uneconomical to mine.
We run out of money and cannot fund raise, then we are forced to sell off our Assets including Alpala.
More likely.
Solgold have represented accurately, we do our fund raise to get us to DFS. We start an active drilling program at our priority targets.
At DFS we raise in staged loans and minimal dilution and construct Alpala.
Fort
I thought that everyone knows, if you cap wages and raise tax you lose productivity and investment.
Guess some will never get it,dispite of thousands of years of economic history.
Certainly didn’t want Mather out. Love him or loathe him, he’s the only director with real skin in the game and totally aligned with pi’s .