Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It's weird but it's not unheard of. It happens across a wide range of stocks.
Every poster has a motive. Those who aren't invested and never will be have a more intriguing motive than most.
I think Tesla once claimed to be the friend of an investor. Can't remember if it was TI or Qalibashi. But the point stands that if your friend spends significant time posting on a BB trashing investor sentiment in a company whose shares you own, let's just say they ought to be getting a short shrift.
The company can help to counter this by getting things done and to time.
Nah sorry Add, it's poor. Friday is well renowned with investors as a day to bury bad news so naturally, any news released is generally assumed to be negative.
They should have gone for a Monday morning release with accompanying media.
As for the study itself... I'll refrain from commenting. I'm not as encouraged as you but in a similar hole so will let my concerns slide for now.
DBW - the Canadians can get in the bin as far as I'm concerned.
They were charlatans under the Cornerstone banner and they remain the same now.
The lauding of these clowns for years as a stick to beat Mather with is ringing in my ears. Well, let the SP today guide you all on what bunkum that was. 25-45p under Mather with that vicious pre-Covid dip to 10 vs this mess now.
Today's half year report further proof that the company is struggling to make ground at the pace required.
You can also forget BHP and the likes of. Those with equity have deep enough pockets to not chase it and those with debt will take their vengeance in the courts.
Plenty of posters have a lot of historic views to reconsider and wade through here as they're not aging well.
Don't disagree SM. A sale is clearly the desired outcome.
However, you can't sell what nobody wants to buy for the valuation you have put on the asset in question, be that Cascabel or the equity in SolGold.
So whilst for all intents and purposes it looks like we're 'sitting around and waiting to catch a bid', I'm fairly sure there's much more going on than that. Backup options will have been explored in the event that we need to pivot.
It all rests on the IPA and phased study. Without that we're just drifting on our self made raft, hoping to make contact with civilisation again.
No it hasn't. The strategic review doesn't reach a conclusion until they have secured an acceptable deal in line with their chosen path.
I agree they've been at it long enough but to suggest this is done in a day is so far wide of the mark that frankly you're showing yourself up.
I suspect they're struggling to extract the value they anticipated. There will hsve to be some pride swallowed somewhere.
Well most people would be wrong 1984.
A strategic review doesn't just involve choosing the favored path forward. It also involves collecting expressions of interest, exchanging data under DD and even negotiating.
One thing the company is right to do is not provide an end date for the process. Just because they aren't doesn't mwan the process isn't happening. It clearly is. There's no smokescreen at all. Those who think there is clearly know nothing about business.
It's just a shame the CGp crew chose to rationalise the SP when they rationalised the company. It has worked against them in the sense that they'd struggle to get a scheme of arrangement through for the sort of area where any suitor would be bidding. They tied their own noose there really.
Subby - BHP would quite happily let it slip away.
They have £100m invested give or take. That's nothing to them. They could easily just write it off in their accounts.
Same with Newmont, same with Franco, same with Jiangxi, same with Osisko.
They're all massive corporations that can absorb a loss of their investments in a matter of weeks.
It's PIs, the Maxit/CGP crew and Nick Mather that stand to lose the most here, and it's that which keeps the investment case in tact.
Scott can accuse other SOLG management teams of being incompetent as much as he likes but they all achieved something he has yet to; they created value.
What is under the bonnet is of course important for the long term success of the company but sometimes you've got to give the old girl a clean so she looks her Sunday best, particularly if you're taking her for a spin (raising more capital).
At the moment we're thick with winter muck and there's no sign of any shampoo.
I very much doubt it SM.
Any potential suitor knows it can buy up millions of shares at this level over time and the chance of a bid is vastly reduced.
That's what I believe The Italian is getting at and I agree.
I also agree with Fort's post from yesterday about the accounting process.
There's no two ways about it. We're in a pickle and the SP is reflecting this.
Well it's clearly not doing zero Fort, is it?
The fact is we have no idea where the IPA is up to, we have no idea where the PFS is up to and we have no idea where mine design etc is up to.
Get these news items out in the proper domain. They might not have fancy drill results to report at the moment but suggest they can't put out a regular update detailing progress is just rubbish I'm afraid.
Agree DBW and NMM.
A couple of years ago SOLG took the view it wasn't going to announce certain items it considered immaterial. Instead they tuck this stuff away in the MD&A.
It is now time IMO to reverse that thinking. The company has shrunk across many metrics and if something fairly significant happens, we need to be kept informed via the RNS.
Plodding along for weeks and weeks at a time without an update has to stop.
That's all this board is. Everyone telling each other we've all filtered each other and then telling each other how many filtered messages we go on to receive.
Anyone looking to do a social experiment will have a field day. LSE should sell the chat history.
Meanwhile, all quiet at SolGold towers. £220m market cap going into the phased PFS. Significant newsflow needed in the coming weeks to push this company back towards the top of the junior explorer pile.
The lack of buzz and enthusiasm for the new study is symptomatic with the market losing belief in the assey rather than the management. People are just tired of hearing about what direction Cascabel is going to be taken in.
Scott is partly responsible for where we are today along with previous management that delivered studies the market wasn't impressed with.
As much as I hate to say it and whilst everyone is trying to keep a straight face, we're approaching the time for a Hail Mary. One from Bob. Needs to be a home run for the ages.