Member Info for mattlilly

Can somebody explain to those of us who are perplexed, how...

The UT at 8.05 was at 9.39p up 6% and then AT trades have walked it down as low as 8.66, down more than 2%...?

I know that in the MD&A they stated they have been working on:

""robust, longer-term financing package for the Cascabel Project ("Project"). This proposed Financing ("Financing") is projected to cover a significant portion of the estimated initial capital development costs of the Project..."

But thats too vague.

What we need is a RNS that says up front:

"We have been working on offtake (or even longer term non-dilutive, non-equity) funding since the publication of the PFS and the ten EOIs. We are now in dialogue with one provider (or even say one or two) and expect to conclude this soon. The main reason for the delay is that we have been able to improve the prospective terms if this funding significantly since the start of negotiations, primarily due to the higher copper and gold prices.

In the meantime we have arranged a $10 million Loan Facility to secure our medium term cash resources until the longer term funding is concluded. Depending on how soon that is, we may not need to draw on that Facility at all."

David85...you're not loganair are you...dismally wrong...

Q19 Why don't Kobold just buy JAY for petty cash...?

Its so good to have you back Ashton...

Q19

More than 3 months woody...

The Operational cash outflow for the 9 months to March was $7.6 million...

But for the last 3 months was only 800k, I.e. 270k per month.

So $10 million will last for the rest of the year at least unless there is discretionary spending.

And given the impending funding deal, rising metals prices and the strategy of seeking a sale of SOLG, I dont think you need worry.

And it is of course a Facility, only drawn as needed.

But as I've said elsewhere, I believe the funding deal will produce a large enough SP rerate as to make a sale of the CGP shares viable.

But the company has said they have no intention of doing that, which persuades me that a funding deal is imminent...

So why didn't you just copy and paste the relevant bits?

As DBW says...the rest is just standard...

Nothing new here

For those of us who do know what we are talking about...from today's media...

"SolGold PLC - Ecuador-focused copper and gold exploration company - Celebrates "substantial progress" it has made in its financial initiatives. "Management is currently in detailed discussions with capital providers who have shown a strong interest in committing to a robust, longer-term financing package for the Cascabel project," SolGold explains, citing its flagship project in Ecuador. Additionally, it notes a USD10 million loan facility which provides an immediate cash infusion for its ongoing operations. Chief Financial Officer Chris Stackhouse says: "These developments are significant for SolGold as we continue to establish the financial foundations necessary for the next phases of the Cascabel project. The strong interest from potential financiers not only validates the project's exceptional prospects but also strengthens our capability to achieve planned milestones."

Why dont you just crawl back under your stone.

Your posts show you know nothing...loser...

BBG I will address both your key points:

1 I have not said it is there to cover us until the year end. I've said that at current operational cash burn it would cover us until at least the year end.

I have also said we may not draw on it at all depending on:

A How soon bidding starts and

B Finalising the major funding and

C A possible sharp in crease the SP that would ALLOW us to sell the CGP shares.

2 Indeed I am not saying we SHOULD sell the CGP shares at all...let alone at 20p...I was simply addressing addickts point about an accounts qualification suggesting that if the MGT COULD sell the CGP shares if needed to avoid qualification, at a price that I would expect to be at least 20p by Y/E based on the funding deal and/or takeover bid(s)

Hope this helps...

Oh dear...you can only sell for £1.55 if somebody pays £1.55...unlikely but...

If it happens several of us will make millions...

Addickt...IF we reach the Y/E without any takeover bids, there will be a substantial offtake agreement in place...

The Loan Facility won't need to be drawn because the SP will be very much higher and we will have been able to sell the CGP shares for at least 20p...

Based on the 31 Dec figures, monthly operational cash burn will surely be no more than $1m (they only have SIX core personnel), so...

Even £31 million (155 x 20p) gives us almost $40 million....enough to last 3 years...no qualification...etc etc...

Why would we do more drilling...

Porvenir alone is worth $195 million based on 1% of the $19.5 billion of metal in the ground...

https://www.lse.co.uk/rns/SOLG/porvenir-project-update-qtdtf12d0ju6qgt.html

And we know a lot about Blanca Nieves, Rio Amarillo, etc...

We are SELLING Solgold, so why do we need more drilling of regional projects when on a 1% basis, Cascabel alone is worth...

OVER $2 Billion, i.e. 55p/share...

New all time high for copper...

Now bring on the offtake funding...

Brilliant!

Silly me...

Addickt...every time you respond to this thread people see that negative header...

I thought you were smarter than that!

Start a new thread instead as I did...

Yeressshhhh

Which idiot started the death spiral thread.

To be precise.

This is a FACILITY. None of it has to be drawn if we dont need it.

SOLG has been negotiating what is almost certainly a substantial n

offtake finance deal and not surprisingly the terms will have kept on improving, primarily as the copper price approaches $5...

Also we are awaiting a couple of permits.

There is a MD&A coming out which would show cash below $10 million and the co wants to reassure the market there are no cash issues.

There is no death spiral.

The likely deal will put an imputed value on Cascabel that is way above SOLGs current MCap.

It would be extremely bullish if the facility has been made available by the potential offtake partner.

The funding deal could be for an amount greater than the MCap as well.

This will be seen as VERY bullish and I would be surprised if it didn't trigger a bid(s).

PS As the PFS3 stated, we had at least TEN Expressions of Interest for offtake deals.

You could take it as read that at least a few would also be potential predators.

So STOP replying to that irresponsible WRONG thread.

Every reply risks unnecessarily scaring people...

9.86 on TMX

I would agree normally BBG...I bought ATYM 1 year pre production at 80p and they're now 450 but...

Scott has made absolutely clear that we are not mine builders...

The purpose of the offtake agreement is:

1 Keep Noboa happy

2 Put an imputed value on Cascabel

3 Kick the bidders into bidding

Jiangxi is out backstop but who else will bid....who will start...and how far will Jiangxi go to get the prize?

If BHP lose out on Anglo surely they are serious contenders because the Anglo bid looks like an attempt to challenge the Chinese on controlling copper

Newmont could have walked away from SOLG as they did with GGP after the Newcrest T/O but they didn't

So Jiangxi won't get this without a fight...especially if they are not the successful 'offtaker'...

GDX and GDXJ both hit new 2 year highs...COPX a new 13 year high (i.e. the last metals bull market...)