Member Info for Quady

J.Maria let's see what the strategic review throws up.
Suppose we could engage engineering expertise to construct Alpala.
We need the money.
Let's say that it was so convincing that we could loan from financial institutions, raise our share through streaming and later on when production has started issue bonds. That's no dilution.
Why on earth would we give Alpala away cheap.
We wouldn't.
Let's remember since 2015 Solgold has stated it's transfering from being an exploration company to a producer.
We need to listen to the company.

Agreed Smickster, people on here fail to understand why no bid has arrived, when over the years they have said things like I wouldn't want to be out over the weekend.
A bid is imminent.
This will be over in a week and many more.
I have constantly explained why this is, and received abuse for being constantly correct from the likes of Covgaz, Jezzoo, Andywest and other uninformed posters.
I recently asked Jezzoo what would be sold when he said it would be sold.
He didn't have a clue what he was talking about as he didn't know what it was. He just copied other posters that disagreed with me.

We are seeing a change, but now we need to take a step back and assess how this change is developing.
Going to be an interesting few months ahead for us, in which hopefully things will become clearer.

Good morning Bozi.
I don't think CGP had much choice, it was running out of time.
They could see that we were going to get the funds to take us to DFS.
They were getting close to handing us some serious money.
This way with Solgold owning 100% of ENSA it means that we can raise funds more easily.
Also it finally means that any party wanting to purchase Alpala also got easier as you only have one party to approach.
That's us.

Addicknt as I said yesterday.
A hostile takeover is now almost impossible, because the book became more diverse.
An agreed takeover is highly unlikely, as the major protagonists will not sell out cheap

However something happening with ENSA is more likely now we have 100% of it.
Add to that that streamers are looking around.
So either a JV or a packaging up of ENSA as a separate entity became more likely. But I don't see a sale of Solgold is on the cards.

I listened carefully to Darryl.
Lets see what the review throws up.
I think we get the funds to DFS. As you know I never doubted that.
But then we have funding options and that's when a bid may arrive for ENSA, Cascabel, Alpala.
In which ever way it's defined.
However we mustn't forget if the review puts all the money on the table, why on earth would we sell.
We would be mad.
Let's all relax wait for the updated PFS for Alpala, the PEA for Porvenir, the funding to get us to DFS and the strategic review.

Zoros we covered this. It was said by CGP not Solgold.
Sure I have said a sale of ENSA is possible now.
But its got to be a full value offer and that's the problem.

Otherwise we continue to production.

Addicknt CGP are not running the show.
Solgold are.
We are still on plan A .
No one has said anything different.
I do accept with this major change that a sale of ENSA is possible, but if it was to happen it's a long way down the road.

Hi Bubble.
Lets say that a strategic review is done.
How long does it take?
Next they decide to sell it, we still have to fund raise to keep the lights on.
Next we go through the process of an offer, then we have due diligence based on an offer.
That could take a year.
All this time we continue down the road to production.

That's why Bubble.

I see Jerry mathematics is not your strong point.
We will not be sold by Christmas.
That is obvious
Please tell me how we are less diverse.
Numbers would be good.
SharketMare's post was incorrect and corrected by LunchMoney.
Then SharketMare tried to spin it another way and failed again.
I eagerly await your calculations as to why the book is less diverse.
I won't wait too long as I don't think you will be forthcoming.

Agreed LunchMoney.
However if we get a streaming deal for Alpala then it shows the market we are heading to production.
This is two fold.
First it makes it less attractive to a bidder.
Second the money would be ring fenced for Cascabel only.

Miketrix great post with some meat on the bone.
My figures are a little different, but not enough to make any difference.
The big part of this for me is this diluted BHP and NCM, and this is clearly why the fund raise never went ahead.
I believe we will have a clearer picture when we see the fund raise and how it works.

I worked out the CGP conversation by market capitalisation of CGP divided by number of shares times 15.
Came to just under 18%.

Eish the market is blind.
This will recover when we get volume.

Fair enough SharketMare but the review is exactly that.
Again note the offtake companies are involved in the future.
Where do they fit in.
We will leave it there.

SharketMare you completely miss the diverse book argument.
Lets say you are correct and the majority of shareholders want the same outcome.
Only one or a concert group can buy it.
The others know the value of their holdings.
So unless they give them what they want we continue to production.
It's that simple.

Correct LunchMoney.
But CGP shareholders may well sell.
And as Darryl said BHP and NCM don't get to keep their percentage.
If they want to do that they can buy in the open market.
I was punching the air with that comment. Nearly dropped my mug of coffee.
We are much more diverse.
I suspect SharketMare is just trying to keep his worldview alive.
We still have a way to go, but once funding sorted we proceed to DFS, which is the next stage.

Of course now with the changes someone may start talking to us. But we become more expensive every month.

Sorted not shorted, read it twice and still got it wrong.

Addicknt like you I listened closely to the webinar yesterday looking for the changes.
I heard that we proceed as planned.
We will have funding shorted shortly.
CGP don't have to pony up a wedge of cash.
They do seem happy, but could they be happy because they and their shareholders will be invested in a large Copper Gold project with no outlay. That wasn't the situation before.
I believe we still have more to hear and so will see what transpires.

Okay SharketMare lets cover your points.
NM never said the plan was to sell it to a major.
He was speaking on behalf of DGR and said eventually DGR'S holding in Solgold would be sold.
He did not say to a major, he didn't specify anyone, he did not say when.

I am not into conspiracy theories. When Boliden were on site, they were not there to force a bid, they were there in their own right. So what you say makes no sense.

Next: the CGP deal. This was always the intention and now it's close to being achieved

Owning 100% of ENSA makes this easier to sell or finance.
The sell them cheap brigade always said Solgold could not get 100% control of ENSA and that BHP would acquire CGP.
This has not happened.
We are about to get an update on financing, but what financing. This will be interesting.

Trust me I understand what the term diverse means.
We have become more diverse as BHP and NCM will be diluted. 20% of market capitalisation in the hands of PI's.
A huge drop.
More companies own Solgold and smaller holdings.
Lets remember that CGP have individual share holders and so they get the shares not CGP.
So we are much more diverse.

Morning addicknt, then if you're correct why are the streaming chaps looking over Cascabel.

One last point. Some of the let's flog it cheap brigade on here suggested taking Alpala to production was now off the table.
However we have streamers looking over the site, and the only reason they would be there is if we are going to production.
My thinking is thus:

When we did the Franco Nevada streaming deal it was ring fenced for Cascabel only.
Any streaming deal again will be for Cascabel only.
Why would we require funds for Cascabel only.
It would be to take it to production.

Yes addicknt I picked up on that.
I seem to remember when the PI's voted on Nick Mather we were just over 40%
So if yesterday's figure is correct then the book is even more diverse than I thought.
So hostile bid all but impossible.
Agreed bid possible but not cheap, otherwise we proceed towards production.
Lastly and I believe this does have some legs.
ENSA becomes an entity within itself and either we take it to production, someone JV's with us or now that we are in the process of consolidating it, we could possibly sell.

However that is dependent on if anyone out there will pay our price.