The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I know that it is a fair offer, but if they are acting illegaly in Ecuador for whatever they are doing at Los Cedros, and if they are fined, we will have to pick up the tab if we take them over. Mud sticks!
Frog
I note that all but one of the shares I watch has been marked down this morning so SOLG is no different. Hopefully it will work its way back up.
When I started my banking career in 1969, I worked for a small bank which was a member of the London Metal Exchange (I think that's what it was called. The bullion dealing section was more profitable than the actual bank. Mainly people were trading silver, less so gold. It was all paper; the physical bullion was stored in vaults somewhere. Anyway most people were trading on the rise in the silver price. During my 2 years there, there was never any rise in the silver price and some people, including at least one very high profile person, lost a lot of money.
Unlike gold and copper, I cannot see that silver has any major use these days. In the UK, it has not been used for coins since 1947, otherwise it is only used in jewellery and ornaments. I don't know of other major uses. There is really too much being produced these days. Of course it is different with gold and copper where, currently, the sky's the limit for demand and therefore price.
Frog
OK after all that. I think what I am suggesting is that if the CGP vote goes ahead, we as the PIs should add a vote of confidence in NM and the board of Solgold. I don't think CGP could stop that, but I might be wrong.
Frog
OK, if we want to nominate the current board how would we go about it? Basically, will all the motions appear on the ballot paper at the same time or would they - us - vote in succession with the vote to remove the board first? Anyway, if the vote to remove the board goes ahead we could consider adding a) a vote of confidence in the current board and b) a vote to confirm them in position.
Frog
Hi Pernickety, I am expecting to wait 5 years or so, meaning that we will be producing from more than one site by then. I might, of course, not be around then, but, hey, that doesn't matter, the money will be there!Anyway, back to grass cutting!
Frog
Hi Pernickety, I am expecting to wait 5 years or so, meaning that we will be producing from more than one site by then. I might, of course, not be around then, but, hey, that doesn't matter, the money will be there!Anyway, back to grass cutting!
Frog
I don't understand what goes on at end of day. Today was fine but other days recently have been positively bad!
I am currently staying at my pad in France. We have about 2 acres here and these days we employ gardeners to cut the grass. However, there is a small area which is outside the contract and because of not being able to come here, it has got a bit out of hand. I use a small electric mower to cut it, but, despite its valiant efforts, it has died! So I need a new one! Perhaps I should pay a bit more and add it to the contract!
Seriously, I want a decent SP so that I can pay for my daughter's uni fees and living expenses. I reckon that an SP of £5 will do it plus a few other things.
Here's to dreaming!
A great day, except the broken mower!
Frog
BNC
You asked about getting a shareholding into a sipp. First of all, I would say, I am not an expert, but I did work for a bank and one of their products was a sipp. So to get a shareholding into a sipp or more particularly, a self-invest sipp, you could ask your sipp provider to 'bed and sipp' it. Provided you have space within your annual pension allowance, this is probably the cheapest way of doing it. Failing that, if your sipp provider doesn't do it, then sell your shares then buy them back in your sipp, if necessary topping up your sipp to do it, but then if they don't allow you to do it, it might be a sipp where they use funds, etc. Rather than do it as a sipp have you thought of a self-select ISA? OK, you would have paid your tax upfront but any dividends and, more importantly, any capital gains, are tax free especially with a share like Solgold where the gains might be enormous.
I hope this helps, but please note that I am not registered to give financial advice although I did qualify as a banker and also passed my Financial Planning Certificate shortly before I retired, or more appropriately 'was retired' some 17 years ago.
Good luck.
Frog
You can invest in upto two ISAs in a tax year to max of £20,000 a year. Either as 1 cash ISA and 1 stocks and shares ISA or either one or the other up to the full £20,000. Then do the same the following year. No tax on interest, dividends or capital gains unless the Chancellor changes the rules!
Frog
I can understand that those of us who bought into this share when it was in the low p's would want to sell or be bought out at 40p plus a) because they have been in a long time and b) because they will be sitting on a good profit. Others of us are later entrants so we want to sit out until the share price is a lot higher so we can also make a nice profit. Both sides must accept each other's views.
I would say that I cannot understand why we can't take Alpala to production, provided we are willing to pay enough there are enough experts out there to do the job.
What I do not believe is that, say BHP buys us out, and we invest our proceeds into BHP will we eventually make the same return as we make if Solgold takes this to production. I am sure the value of Alpala and the other sites will be lost in the ether which is BHP, or Newcrest, or Barrick, or Rio, etc.
Frog
Come on, please stop this fighting, bullying, etc. It is totally unnecessary and unpleasant. I am on here to learn and be told things. To listen to opinions that are different to mine. Let's have Peace not war.
Frog
Cornerstone keep saying that they have a 22% interest in Alpala. They do not. They own 15% of ENSA and 7.6% of Solgold. Solgold owns 85% of ENSA and x% of Cornerstone. How much of CGP does Solgold own? Even excluding our holding of CGP, 85 plus 15 plus 7.6 comes to 107.6%. That is not possible. They only own 15% of ENSA and therefore Alpala; anything else is wishful thinking on their part.
Frog
Thank you Quady for correcting me. With all the drilling results which will be included in the PFS any prospective buyer will have a reasonable idea of what they are bidding for even if the costs of extraction will be sketchy and so will require a hefty discount. The drilling results have all been published previously as I understand it. In any event they only apply to Alpala therefore if a bidder is successful even after DFS they would get all Solgold's licences for the price of Alpala primarily because the bidding would start at a much lower point than if other licences have been proved up. This would be very disappointing for all of us I am sure.
Sorry if I have not articulated what I am trying to say well enough, but I hope you can understand what I am trying to say.
Afraid, my wife and I are driving to France shortly so will be going off air for most of the rest of today.
Kind regards,
Frog
Thank you for that Quady, very helpful.
So we are working towards PFS by end of September and the BFS by end of Q2 next year. I presume that our BFS will incorporate the DFS. What it has told me is that no company, the directors of a major or any other company, will not sanction a bid for an exploration/mining company until the PFS has been published, except under very exceptional circumstances and that might be a heavy discount to NPV where there is other evidence to support the value in the proposed mines. This might apply to Solgold, but a bidding company would probably want to wait at least for PFS before mounting a bid so it gets passed their auditors, etc.
Frog
Let's have some peace. No bullying, no fighting, just friendly discussions about Solgold and the companies and people connected to it. I look at this board to learn about what's happening with Solgold and investing generally. I've been investing since 1973, but there are many on here who have more knowledge than me. I want to learn from you all. I am here to make money as are all of you, perhaps in different ways but everyone deserves to be listened to and their views respected. If you don't like what has been said, please don't get abusive, it achieves nothing, just ignore it and it will go away.
So what will happen next week with Solgold? Let's hear your ideas.
Kind regards,
Frog