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No one on here knows anything HFHā¦ youāre in good company.
The drop from 17p pretty much coincides with Scot repeatedly stating the strategic review has no endā¦ that was the point the smart and financially shrewd bailedā¦ presumably until there was some clarity.. If Solgold are not ready to announce the end of the strategic review, surely there is nothing stopping them announcing some progress, some direction or form itās taking.
They could for example, announce they have taken the decision to sell off an asset, Porvenir say, to fund future company development, will begin the process of inviting discussions and simultaneously continue to work on the strategic review of the rest of the business portfolio..
Just an example, but the markets would see at least some clarity of thought, funding route and direction..
The absolute silence just screams malaise, lack of progress and doubts about managements ability to deliver.. The price today reflects this.
All eyes now on PFSā¦ if it doesnāt deliver the big cost reductions, as promised, things could turn far worse.
Not much demand in places for a āchief or head of asset destructionā
Its a position only Solgold have implemented over the last couple of years, much to the major shareholders delight.
Share price collapse 20p to 6p in less than a year
Down nearly 40%, just since the new year
market capital to just 180 million
Remaining funds almost gone
Company mothballed
No stated end to the strategy review
Dropped from global MSCI index
Caldwell? paid over $500k for this!
And when he took over, he slated Solgold management as having a culture of non performance!!
There should be no alternative metals prices in the PFSā¦ they should be as they were in the previous PFS.. the mining world is not stupid.. if we can only improve the IRR by using higher metal prices, then we havenāt made the investment case at all.
We need an IRR at least over 22% by improved, more efficient, phased mining plan.. as Scott has repeatedly promised. Using higher prices to get there will see any momentary share price improvement immediately sold off, as itās understood as an attempt at massaging the numbers to fool people.
Scottās had nearly half a million dollars for the last 12 months..
You could be Redknight after boasting about his t 20s and top ups
With the ongoing restructuring efforts described below, management expects current cash balances to last through June 2024. Management intends to raise financing prior to June 2024 in order to continue to advance its strategic objectives.
As at 31 December 2023, SolGold Plc (the āCompanyā) and its subsidiaries (the āGroupā) had cash on hand of $12,835,344 and net current assets of $13,148,070. The Directors have reviewed the cash position and cash position forecast of the Group and the Company for the period to 31 March 2025 and consider it appropriate that the Group and the Company financial statements are prepared on the going concern basis. This basis contemplates the continuity of normal business activities and the realisation of assets and discharge of liabilities in the ordinary course of business, for the reasons set out below.
The Group has not generated revenues from operations in its history. Like many exploration and development companies, the Group raises finance for its exploration and appraisal activities in discrete tranches. Therefore, the ability of the Group to continue as a going concern depends on its ability to manage costs and secure additional financing within the next six months. Managementās cash flow forecasts show that the Group and the Company need to secure additional funding to continue their exploration and development programme and in order to continue to meet their obligations and liabilities as they fall due.
Donāt know if this has been reported but Solgold has been removed from the MSCI global small cap index.. due to drop in market capital making it ineligible..
14.4m
Itās almost certainly a fact they have deliberately crashed the price in order to entice a monetising event.. Watch Scot and the boys claim a great result when it goes for 25-30p.. and they absolutely will boast about how they achieved a circa 300% premium.. bonusās and backslaps all round guysā¦ good job!! They will praise each otherās great contributions and hard work getting it done..
Just donāt look at the fact it was already hovering around 20p before Scot and the boys took over..
Https://twitter.com/politicturk/status/1757392928761131413
Terrifying video of a gold mine disaster doing the rounds.. highlights the risky process involved in mining.. hope everyone is recovered
Salaries for nothing at the moment for the people still at Solg towers..
I hope Im wrong, but I expect only the MDA this week, with just a vague, brief non comital mention about the need to raise fundsā¦ and no further supplementary plan for the immediate term.. Solg is what Solg is..
Redknight provides his own personal RNS updates on this message board, to ensure we donāt miss out.
My gut feeling is the IPA is taking a lot longer than anticipated due to Solgold failing to meet the spending commitments of the previous one, by circa 200 million dollars as contractually obliged.. and any progress being so painfully slow getting it towards production..
The government could easily be doubtful of Solgolds ability to deliver on the next IPAā¦ After all, they will know just as well as we do, that Scott has mothballed the business and announced that he sees no current end date to the strategy review.. they are probably as dissatisfied with our management as we are..
If Solgold are not attending PDAC, itās more likely because they want to avoid having to fend off all the obvious questions, and having nothing to share or discuss since the company is mothballed. Their showing there would be embarrassing.
Been in the data room... analysed it all and walked away. How long has this Data room been open to potential buyers?
Wasnāt the previous PFS and mine plan remodelled by Keith Marshall and his crew, to try to make it more realistic and efficient?
I will be astonished if somehow, they missed the opportunity to mine the resource for less than half the cost.. like we have promised to now show in PFS 3.
They must have had the mining vision of Mr Magoo, if they couldnāt see the opportunities that Scottās new boys may show, if they can release a credible, genuine method to extract for substantially less, that stands up to close scrutiny .. IF being the big word here.
There is another IF thoughā¦ As in, what if Solgolds new PFS doesnāt clearly and unambiguously prove it can be mined for half the price? What if it disappoints.. what options are we left with?
The ore body is the ore body, and it is where it is, itās not changed.. if after 3 PFS we canāt get any major to buy it or JV it with us, after they have each looked it over and kicked the tyres.. then what?
Itās just laughable to believe Solgold are capable of moving it forward profitably if all the experienced and proven miners walked away for reasons we will never know..