Member Info for Bozi

*put out the flames

Regardless of that Quady, which I don't quite agree with, what are your general thoughts about putting together a finance package whilst inflation is raging, base rates are being increased to try and help fan the flames and banks are increasing their rates to follow suit?

It might just be a case of getting through to DFS, showing a robust project, adding a bankable Porvenir for open pit potential and then asking anyone if they want to take both assets together?

That way you could envisage that profits from Porvenir pay back Cascabel development costs in double quick time.

Quady - how do you know someone will lend us the money?

I'm not so sure I want someone to lend us the money given interest rates are going up at the rate they are. Do you think it's going to be wise approaching a consortium of banks in 12 months time post the DFS for them to turn round and put us a package together at something like 10,12 or even 15%.

We've just let a very favourable borrowing period pass whilst we've been fumbling over the PFS.

My thinking is that this change in the environment around us will be part of the change of strategy Ingo referred to in his LinkedIn post.

With this is mind, I'm not sure it's feasible to ridicule Addicknt for those views.

Quite right, Eish.

That sort of explains why BHP might be friendly and amiable with one bjsiness but with us they seem to be hellbent on causing trouble.

It boils down to the discussion that's been had before about managing the relationship with them. Have SolGold done that well enough or is it about to bite us on the a***?

Fort - these "underhand tactics at board level" are just as likely to be an act of discontent at the actions of management as they are an attempt to gain control of the business. They seemingly relented after Twigger's public salvo as we heard nothing further.

The whole episode came about in the aftermath of the Franco financing which we all know was a big bone of contention for them, to put it lightly.

Yes, they do take strategic stakes in businesses showing promising assets. Filo del Sol is probably the most promising of the emerging discoveries but there's a small cluster of others, none quite as big as Cascabel (yet) I'll grant you that. You used the word 'many' for what it's worth.

Lets hope you're right about funding not being an issue, because here we are dowm to a runway of 4-5 months and an apparent impasse between the major players. Solgold3have never ever left it this late but I'm sure everything is absolutely hunky dory.

Fort, I've supported this company more than anyone.

When they started announcing pushbacks to the PFS I defended this company whilst many were losing their heads all around us.

I've long been a very vocal supporter of this company both here and elsewhere.

However, I do think they've mis-stepped quite drastically on the treasury and hearing news that all the major players can't agree on a funding solution has to be a concern for any shareholder.

The asset itself is good. However, competition is rapidly emerging from Filo Del Sol in Argentina. BHP also have a stake in the business that controls that. So it's fair to say we're not the only target for them at a pre-development point in the cycle. The whole "we're the only ones who have what the majors want" is no longer true I'm afraid. We have credible competition.

Just to close because I really don't want a protracted tussle - we are after all both on the same side.

What in your view happens to SOLGs stock price if they have resolved the treasury issue by 1 Nov?

Correct rcgl2.

That's the multi dimensional thinking that one should have about all their investments.

Not the "ahhh I hold stock in..... so must talk it to the moon until I sell" patter that Fort thinks we should all be up to.

Novice - we're discussing SOLG as it happens.

It's much more constructive than your "onwards and upwards 55p by Friday" bull that we all truly got sick of hearing about 3 years ago.

You're the one hopping around this morning Fort. I posted my view and you jumped all over it, yet its you that is rustling feathers.

I'm pleased to see us up on the day.

Calm down, have a coffee, a beer or whatever it is you drink and enjoy what is left of summer.

Fort - I'm not saying you wouldn't buy SOLG stock. I'm saying I wouldn't buy it here.

That's just my own personal opinion. There's no saying just yet if it's right or wrong.

Norges bought the stock before the recent news came to light. I'm sure if you asked their investment team they'd have rued those biggish trades about 40% higher up.

Anyway, I mean no ill will and I'm not looking for an argument. I just wish you'd show some ability to deal with nuance. You were an investment banker after all so you know more than most how all these things work. You just seem unwilling to deviate from the uber pro SOLG standpoint because you hold stock, when the reality is we all do.

I absolutely am a holder of SOLG stock Fortissimo.

However, the difference between me and you is I post with honesty and objectivity, adjusting my viewpoint as events play out.

You however, post false positivity regardless of the situation to try and influence readers of this BB in the hope it might help massage the stock price.

If SOLG can get a fair financing out of the way over the next 6 weeks or so then I've every faith that we'll be back on track.

This has been my overarching point throughout and I can't say any fairer than that.

Yes Quady. I certainly wouldn't advocate a large raise at this price level. We know the company is chronically undervalued here and a large raise wouldn't be in the best interests of long term retail shareholders.

Personally I'd be happy enough with a similar sized raise to GGPs. About £25m. Something to see us through to next summer.

Importantly, the fund raise should come before the PFS addendum and Porvenir PEA as we don't want those reports to just be pump and dump events. The raise should be done and they should be truer catalysts.

With regards offtakes, I personally think its a bit too early to be forward selling our produce. We need to get to a positive investment decision and only then can we look at offtakes to cover some of our construction costs. We can't be using offtakes now to fund our G&A.

I'm not really sure why you'd buy here to be honest.

Yes it may be a historic point of support but the circumstances are different now. Capital markets are tight and GGP have shown that they needed to offer a fairly sizeable discount to get their raise away.

With the dynamic of our BoD facing significant change in just over 3 months and a fundraise of some sort required in that time to remain solvent, I genuinely don't see this as 'another test of 20p support'.

In fact, I expect the number of shares on loan to increase with each passing week and if we don't see a financing completed by end of September, we'll 10p won't be out of the question as the vultures start picking at our rotting remains.

Flashheart - it's there in black and white Sun 11:42

"...however....and this is not meant as an uber ramp, just putting out an alternative albeit longer odds regarding something significant having been found but unable to disclose because of currently ongoing JV discussions which would be subject to an NDA....???????"

No deramping here. Simply saying that any info added to the KAV data room also has to be released to market if material to the share price.

Now let's get to the KCB and make the discovery 2022 was intended for.

Flashheart

You were talking about withholding exploration results from the market. If they are deemed material to the share price that simply cannot happen.

There's a marked difference between that and just signing an NDA whilst discussions take place over a commercial arrangement like a JV.

Nice try though.

LunchMoney - I hear you.

I wouldn't quite agree with some shareholders or the company that we're an explorer. We're a developer-explorer right now and that's why those studies have to play a big part in what we do.

I do agree with you though that we need to see the regionals playing a part. They simply have to be part of our defence against an opportunistic approach.

Cash is obviously the big issue right now. Something will have to give somewhere. I don't know what and I don't envy Darryl having to solve that problem. Ayten clearly wanted no part of it either.

Lets see. Fingers crossed. SP starting to mirror the situation. Starting to.

Dave - exuding confidence wouldn't be that high on my list of requisite skills.

Actions speak louder than words for me and many more in these markets. As long as he can lead, garner the respect and motivate his workforce, and most importantly deliver on our targets, whatever they may be, then he's a worthy candidate for me.

Suspect that's very likely Addicknt but didn't want to say it for fear of voicing too much more displeasure!

Agree Addicknt, and no time like the present.

Flashheart - yes it can be discounted. A companynis not permitted to keep hold of any info thst may be considered material to the share price.

There's no way a JV partner can be told and asked to sign an NDA.