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RNS with entitlement offer
Sounds like they are worried or have a sense that a bid is coming from somebody - hence appointing Citi. Something is going on. This Webinar is unusual and to categorically state that they are not selling, it's their project and the tax would be high - to me it's a signal to (maybe) whoever is trying to approach them. Maybe it is BHP this is a warn off...
No - categorically said that he doesn't want to sell - they would have to pay huge taxation...
Hi Q, do you have level 2 info - what does the book look like for now?
Earthling - agree - as you stated we are not a miner. Even better we have drilled cascabel and are (presumably) desk working and involving 3rd party modelling etc on mre3/dfs. IF the country is closed then this can still continue (IMO). By closing Peru it only means less mining and less materials in the world. Appreciate that less are needed but supply /demand should balance for now.
Addinkt - understand your point but the reality is it doesn't work like that. Solgold could place an order on a trading entity (not a shell company) in the UK which could buy the machinery from overseas. It may not be machinery - it could be for example water tratment pkants - the entity may be in UK - a % of engineering is done in UK and procurement done outside UK. I know it sounds a bit complex but working on similar thinks for Oil and Gas. UKEF have an abundance of money to lend and keen to do so! There are other ECA (Export Credit Agencies) in similar positions. Of course just guesswork at the moment but the fact that SOLG are based in UK and Ingo is here suspect that the UKEF have an involvement
Addinct - I work with them in the Oil and Gas markets and criteria is that is is "export projects" Hence UK export Finance.
The criteria is such that local content is "one level" down from the parent company - so for example if Solgold placed an order on an entity for say $50m which was say for services and THAT company was based in the UK - bizarelly this would qualify for the UKEF criteria and hence UK local content. We buy goods from Asia we qualify for UK local content. It not the same as Origin.
Anyone wish to discuss Solgold today - I suspect that the UKEF (UK Export Finance) are involved in the deal - they are awash with cash and keen to lend to robust projects - they will like the fact that BHP and NC are involved.
In the meantime this BB is about SOLGOLD. Plenty of news and relevant sites to debate the CV.
Wonder why the SP increased yesterday - maybe Nick and Jason buying?
Have heard from a senior person in a government credit agency that the market is less worrying to them at the moment.
Their view is that so much money is now flowing through them from equities to guilts. Their appetite for the lending is not changed - in fact it puts more emphasis on their portion over the banks.
Robust projects should not need to worry.
We deal with UKEF - they will back 80% compared to bank 20% and cheapest rates on the market so a viable option
Not mentioned so I wonder if they will stump up rest of cash needed for build of the mine.
Don’t get me wrong hope it is a shift in direction. Have been getting some one line replies from co recently although not giving too much info away and similar to others on here.
Refer page 3 from this 9 months back, now compare to website today. It’s the same. http://www.solgold.com.au/wp-content/uploads/2019/08/SOLG-Annual-Report-2019-FS-and-Notes-Final-Signed-.pdf
Earthling- responded to you earlier and not meaning to post this to argue but to manage expectations. As mentioned on my last post would love a sale at a decent price (wouldn’t we all). Your earlier post”
no, you've missed the point
on the header of the website it used to say emerging major, now they have changed it.
I'm aware its still in the presentations
As I said, we will see, some of us happen to think this might be a change of direction.
“
The emerging copper gold major is still in the presentations YES agreed.
But this “new line” on their web site now is firmly on page three of the YE report 9 months ago. So is it a sudden change of direction?
Earthling / JS
Points well taken - although I am of the opinion that potential buyers would likely be at the very least in discussions with the board / NM now and wouldn’t solely Rely on a website heading to get in touch. I sincerely hope I’m wrong as I would love a sale. I’m underwater at the moment (by a lot) but sitting tight.
Board not bots. Autocorrect!
Earthling
Before you try and start another argument - you advised that their website now states on the header
“ Now says
Solgold is a leading exploration company focused on the discovery and definition of world class copper and gold deposits”. Which is true (mate).
I simply pointed out this is nothing new as their annual report from 9 months ago stated the same thing on page 3.
For your info, I have a 2020 diary.
So you are getting all excited in that this is new news and the bots are now listening. As you correctly pointed out the article was 9 months ago. Perhaps you ought to read the website. Mate.
Got me excited for a while earthling until I read June 19 YE report. Take a look at page 3. Same wording. http://www.solgold.com.au/wp-content/uploads/2019/08/SOLG-Annual-Report-2019-FS-and-Notes-Final-Signed-.pdf
Thanks Pad, are you able to share rest of the article please? Also echo's WI comment on twitter last week