Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Sheep always great to see people making a nice return, well done. I took my profit out of SOLG yesterday and entered this at 7, which I'm happy enough with. Going to ride it all the way to final results. If its as good as they think it is should be looking at 700-900 with the new pump. Fingers crossed!
Rhein Petroleum managing director Peter Appel
"The natural porosity is good. We are confident that the new short branch line at the end of the well will result in a flow rate that reflects the quality of the reservoir"
" Due to the excellent reservoir properties and known data, we continue to be convinced that Schwarzbach 2 can produce significant quantities of high quality domestic crude oil"
A little patience and serious money can be made here.
Been watching this for many months. Just bought 13k's worth, a little later than I wished but still substantial upside possibilities from here. GLA
Fort I would suggest the CGP shares would command a far greater premium than that for such a stake. I agree the financial update could be multi faceted and even a blind man should see this will all be sorted this month.
Red I wouldn't worry about what people post on other boards, or this one. I
f you believe SOLG will run out of money, simply sell your shares if you own some, or don't buy them if you don't already hold.
If you believe they'll sort their balance sheet out this month, as I do, then hold any you have tightly or buy some.
You'll either make some money or you won't. Personally I'm doing OK with my SOLG investment but expect to do far far better in the not too distant future. Each to their own and all that.
The only point relevant with SOLG execs at this stage is that for the first time they are all unified and singing from the same hymn sheet. They all want either Cascabel and or the company sold.
Whether the majors wait for Cascabel to be completely derisked or they take the opportunity to buy it substantially cheaper remains to be seen. These short on the stock will say it'll take years, those more bullish will say it'll be soon. Only time will tell who's right.
BBG we wouldn't and I think we are.
Whilst I get peoples frustration waiting for news, my take is this. The longer we take the less likely it is thar it'll be a simple offtake agreement and the more likely it'll be someone taking a direct interest in Cascabel, or buying it, or indeed the company.
Eloro thanks for posting.
As Willem says "SOLG should be trading at $1bn"
Vastly undervalued but it will rerate!
The blackout period mentioned by Scott didn't last long. Since they bought shares tangible proposals have been received meaning they are now in an extended close period. That's my understanding.
Red you may well be right. One thing is for sure, we hear what's been decided in May.
Divestment of assets, offtakes, earn ins, partial or full sale of Cascabel or the full sale of SOLG??
I for one can't wait to see what's made the SOLG execs so happy and bullish. Whatever it is, it's going to be very good news for us holders. Strap yourself in!
The much maligned Strategic Review will, in my opinion, be concluded within the next 25 trading days.
Its purpose was to evaluate and pursue value enhancing opportunities for the company.
1. A spin out of assets other than the Cascabel project.
It's my belief that all assets with the exception of Cascabel and Blanca Nieves will be deemed as non core, and will either be sold off or have earn in agreements relinquishing overall ownership. There are various things that make an announcement on this exciting. Firstly, it's my understanding that that Porvenir would not be available to potential suitors on it's own. All non core assets would only be available as a block. As the Ecuadorian government is set to withdraw concessions that are unused it makes perfect sense for SOLG to either offload them or arrange JV's to finance them. Furthermore, with the mining cadastre being closed since 2018, the only way for companies wishing to enter and mine in Ecuador is to arrange a deal with companies like SOLG who have already been granted the concessions.
2. The direct or indirect acquisition of an interest in the Cascabel project.
Following the revised PFS I believe there has been substantial interest from multiple entities in taking an interest in Cascabel. It remains to be seen whether these are further offtake agreements, earn in agreements or an outright sale of the asset. Personally I don't think they'll be offtakes and if it becomes a gold play I think Barrick are most likely but if it comes down to copper, with a high level Chinese delegation recently meeting with the Ecuadorian government, all things lead to China.
SOLG need $60m to fully derisk Cascabel,less than $40m if they sell the Cornerstone shares at a premium. The exciting thing here is copper gold and silver is only going up, every milestone in derisking Cascabel adds more value, and I firmly believe SOLGs financial future will be very much secured within the next 25 trading days. In securing that finance I'm pretty sure that will include a major announcement regarding Cascabel.
Traders can take their 10% but for me this is a 400, 500, 1000% opportunity over the coming months.
Eloro HFH has all the information he needs and sees zero value on posting or even reading this board anymore.
i'm going to keep this short. the director purchases were legal and above board and i'm very confident that good news is coming.
with that i'll leave you all to discuss your conspiracy theories, immigration, heat pumps, covid vaccinations and any other **** you want to.
i wish all holders good luck.
I've taken my time whilst trying to make sense of the recent Director share purchases and personally I've come to the conclusion they were absolutely ludicrous.
Firstly you have Scott, who memory serves has about 14.5m in share options, who has already shown his faith buying £91k's worth less than 6 months ago buying just over £5k's worth, despite doing a recent interview saying he couldn't be because he's in a close/blackout period. Then you have Chris, who I understand it has received all the financial offers to shore up the balance sheet, buying not a lot more than Scott, but also having 9 million share options. He must, in my opinion be in a close period due to the fact a financial deal simply must be completed I would guess if not now then next month.
So why did they make such insignificant purchases? Was Scott being disingenuous when saying he couldn't purchase or being disingenuous when saying they would shore up the balance sheet, which let's face it HAS to be done by June.
ANY Director purchase i have seen has always been viewed as a sign of confidence, except these. There was absolutely no point, no need, they are at best disruptive and confusing, at least in my mind.
As for the future despite what others say, I see real progress. Nothing has changed in my view. They will get non dilutive finance to shore up the balance sheet. They will sign the Exploitation Agreement and the IPA and they will continue to derisk Cascabel adding value at every milestone until an acceptable offer comes in, and we'll also get the strategic review detailing what non core assets will be divested, at least in my opinion.
BUT if the above does happen, I can't see any explanation as to why that wouldn't be deemed insider trading. Nothing makes sense as to why they would buy that pultry amount at this particular time. As for a code, really? Next you'll be telling me a purchase of 1 means an RNS is coming lol.
All I can do is wait for an explanation, maybe there's a good one that I'm unaware of??
There appears a real desperation in the posts from those that have shorted this stock, and rightly so lol.
Personally I'm grinning from ear to ear, I've NEVER been more comfortable with an investment. The mentally stable should hold and accumulate. GLA.
A big buy indeed, £138k. News on finance coming soon.
The trolls continue to try to make Equador a basket case sue to entering the Mexican embassy, yet seemingly unaware there's been over 30 countries that have experienced the same in the course of history and surprisingly the world didn't end. More importantly, if you actually know the whole story, it was Mexico in breach of international law in the first place by granting asylum to a convicted criminal. Unsurprising given the country is run by the drug cartels.
On more worthy news, it looks very much like Equador will strike a deal with fhe IMF in a months time and with Noboa already managing to reduce Equadors risk premium from 2,141 points to 1,265 points it's already opened up the countries access to debt markets. The future looks bright.
Jerry always good to read a balanced post devoid of emotion just clearly stating how things are. Thanks.
Add you're probably right.