Member Info for mattlilly

Ask yourself a serious question....

Why would a 'low ball' offer of 40/50p be recommended...?

Is this the sequitur to some people's assumption that Darryl is a BHP stooge?

How on earth do you think that the Solgold Board or even its key investors would allow that to happen.

I suppose someone will say that BHP and Newcrest would work in partnership but...

The Board of Directors know that Solgold is worth very much more than 40p and, with Citicorp lined up for bid defence, would rightly expect that my own prediction of an auction would come to pass...

I understand that there is nothing happening; that we've just had a failed equity raise and that may well have increased the chances of a takeover bid or bids, but lets keep our collective rational sense together please...

I still see the minimum final bid for Solgold as between £1/2, depending on circumstances at the time...

There won't be another royalty deal...

The Franco one was too expensive...

Now at a 19 month low...next support at 21.75...then 20 or so...then the COVID bottom (but we won't get that far...)

Hit 23.55 and bounced...for the time being...equity raise incoming...?

Piecing it all together...radio silence of months...Fawzi's guarded comments...a failed equity raise and a car crash RNS...

Rabbits in the headlights of a car...?

Hunkered down in their Brisbane bunker together...?

Excellent point addickt

I wrote to him about Ingo and Lisa leaving; the 'car crash' RNS and Nick's and Andrew Taunton's unguarded comments.

He acknowledged both and seemed sorry Ingo had gone.

Why bother...?

Meanwhile, looks like a steady stream of small Autobot sales...

anon...I attended or watched every one of United's wsl matches last season, as well as watching several other wsl and champions league matches on SKY

Barclays has just signed a £30m deal to sponsor the WSL, but just watch the sponsorship deals after last night.

After the US won the World Cup, women football became the fastest growing sport in the US.

That will now happen in the UK and you know what...you don't get the arguing with/crowding the ref or the ridiculous rolling, writhing and screaming you get in the mens game...

End of

Nobody's advocating women vs men...after last night women football will boom and skill levels are rising constantly.

Meanwhile ManU WSL had higher average attendances than 12 of the League 2 clubs last season and their highest attendance at 20,241 beat Watford in the Premier League and 48 Football League Clubs.

Anyhow I'll leave it at that.

Those European CLUB Championship figures were for 2022:

https://www.espn.com/soccer/blog-the-toe-poke/story/4710453/womens-attendances-have-dominated-european-football-in-2022

WSL average 3,400...ManU 4,300

Euros average attendance 18,544

England average = 45,552

68,871 vs Austria; Norway 28,847; N Ireland 30,785; Sweden 28,624; Spain 28,994; Final 87,192

Final watched by 87,192 the highest for any MENS or Women's European Championships match

23.3 million watched it live

The top three attendances in ALL Mens and Women's Club and International matches have all been women matches; 87,192; 91533; 91648. The latter two for CLUB matches at Barcelona...

Finally, if men had scored Russo's back heel or Toone's chip we would still be swooning...

Waiting for Godot...again...

Volume has collapsed again over the last two weeks...

Looks like the SP is up a bit on vague bid rumours....?

https://www.mining-journal.com/copper-news/news/1436856/critical-minerals-investment-stalled-says-anz

Sound comment Lunch...however, this was a signed agreement and despite 'intention to invest' I doubt that The Ecuadorian Government would look kindly on what they might regard as reneging on the deal if it was any less than that.

And like us they have access to MD&A figures...

Apologies for the delay...there was another major factor that led to me reducing my holding, but I haven't had the time until today to do the background research.

My observation on the 'inept' RNS was that it could imply the need for up to $100m funding between now and the end of 2023, or whenever the DFS is completed. I now have to revise that figure upwards substantially, based on the below.

Here is an extract from the IPA RNS on November 23 2021:

"The terms of the IPA, submitted by application to the Ministry of Production, Foreign Trade, Investments and Fisheries ("MPCEIP") of Ecuador, includes an intention to invest a total of approximately US$430 million over the 10 years between 2013 and 2023 in minerals exploration activities in the Cascabel mining concession, in the canton of Ibarra, province of Imbabura, Ecuador. The US$430 million total includes both historical investments, with a total of approximately US$238 million estimated through to the end of 2021, and planned future investments through to the end of 2023 when the Exploration Phase of activities as defined under the mining law is anticipated to finish."

So if the Company's estimates are correct, that left $192m to be spent IN CASCABEL by the end of 2023.

The MD&A for Q/E 31 March 2022 shows $30.3 spent on Cascabel
It also showed planned expenditure on Cascabel for the quarter to 30 June 2022 of $6.9m

That totals $37.2m this year so far, leaving $155m to be spent on Cascabel alone by end 2023.

Which might in part explain the low volume of drilling on other regional projects and the desperation for J/Vs in those.

Now, Solgold has 800 people working in Ecuador and they have increased their management salary package expenditure with the additions of DC and AS, let alone the other three or more appointments. There may also have been severance costs for Ingo and Lisa and compensation for Jason being demoted.

Nevertheless, if we assume $26m was left in the coffers at the end of June and a quarterly 'admin' cost of $5m (based on the March quarter plus an uplift for the above), this produces $30m to the end of 2023.

So the maths goes like this:

$155m + $30m, less $26m (balance at 30 June), i.e. c$160m to be raised to get through to the end of 2023 with a nil balance.

And this also assumes zero expenditure on regional projects such as Porvenir, where there will be ongoing expense. It also takes no account of the fact that a $100m fundraising for example has its own costs, leaving the company probably with proceeds between $90/95m net.

So Solgold either has one or two major fundraising exercises to complete in the next 12/15 months or a series of top ups or both.

The above explains my current caution and make of it what you will. I think it makes a bid even more inevitable, but when?

As always I'm open to factual corrections where my assumptions or calculations may be wrong. There was undoubtedly a failed fund raise last week, leaving SOLG a ho

Fort...the day before the first bid Noront was 26 cents...pretty similar huh?

Was Addickt....