Member Info for SavShare7

No doubt linked to the DFC investment announced earlier this year

Nothing material provided in the RNS from my perspective

Computer909 I agree it's frustrating when timelines are not met, but it feels like the Ilyan and Beehive additions can only strengthen the company's negotiating position as it gives scale to the overall project. If I was Mike I would want these disclosed to the market to boost competitive tension and help with funding discussions? Perhaps he didn't realize how good Beehive was going to be when he initially set out his Q1 timeframe?

I think it's more the issue upstream with the labs getting us the assay results to be fair to the team, rather than delays by BRES in getting them out to the market

Edison Research were at the ceremony so expect an interview in the coming days, significant milestone, hoping for a sustained and sustainable rise over the coming weeks, no spike, proper re-rate please.

Last major one we're waiting on is BHP

Don't disagree with anything you say about the mining exploration "tax" but Dan had that info when he included mention of upcoming ExploreCo news in the NR on the 17th... He's not daft so must believe there would be something material in a position to share within his stated time period....

@Pbow the NR on the 17th about the PEP said we should expect some more concrete news about ExploreCo shortly as well ...

"SolGold is working closely with brokers and potential cornerstone investors to evaluate transaction structures and capital pathways. A more detailed update is expected in the coming week(s)."

We're at 2 weeks post NR as of tomorrow :)

...at Tandy we do...

Quady don't forget to substract the CGP stake in Solgold as those shares will most likely be cancelled. CGP currently hold just over 157m Solgold shares

Hi Redknight, I don't think they're down to 6% in Solgold, I think they're still at 7.5ish%. I think they're referencing their 15% direct interest in ENSA plus 6% indirect holding in ENSA via their 7.5% holding Solgold which holds 85% in ENSA... Hope that makes sense?

BN.c nice to see you over on ceo.ca too buddy!

I think any funds raised to fund the CapEx required for the Alpala development will happen in ENSA... rather than Solgold. We hold 85% of shares in ENSA and I believe that, similar to us securing our 1-1.5% NSR with Franco through our Alpala holding, we will do the same with the equity portion (or at least majority of equity raising) for Alpala....

Some people believe the updated NPV from the PFS will be in the region of (let's be conservative) $8b (through CapEx savings, better recovery rates, better commodity prices, lower discount rate)... let's ignore the other tenements as there is nothing proven (yet) so Solgold is, at present is Alpala...

40% (as a guesstimate of what someone would be willing to pay) of $8b is $3.2b or £2.4b or around £1.10 per share... tax in Australia (especially for higher tax payers, of which mr mather certainly is one) for capital gains is very punitive... #justsaying

However if is it is a mix of cash and shares as part of the offer (e.g. from Barrick) maybe the tax isn't as bad...?

I can't see this going for less than a £ a share and don't think he wants to get involved in potentially messy JVs (and he has said as much multiple times)...to be honest I think this is going to production UNLESS we get an offer for £1.50+ in my opinion, which, I don't think will come unless we get multiple parties involved.... i.e. Barrick, Chinese firms and potentially Japanese investment houses.... But who knows!?!? GLA and DYOR

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Top video pal! Well worth a watch all, impressed by Barrick's CEO and plans... starts by talking about starting to think about copper and gold porphyrs..... then moves swiftly on - and yes increased FCF as I believe their plans all start with ensuring projects are viable at $1200 - anything above that is bonus. May need to rotate some funds into Barrick when Solgold is taken out for £2 ;) GLA and DYOR and watch the interview from today.

https://www.youtube.com/watch?v=3JvN_kOftjo

BN.c I believe that Solgold either want to use the Alpala deposit to underpin and fund the start of a Copper/Gold Major (through using FCF to fund other discoveries) or to be taken out for a significant sum that makes all shareholders happy. Solgold could sell their stake in ENSA but I don't think they would do so UNLESS they were further down the line with another discovery (or 2) so they could demonstrate the value case of the company AND the price paid for ENSA was significant enough to warrant the sale.

Currently Solgold is Alpala - there is huge upside, but until it is proven up the analyst price targets and valuations put barely any value on the regional tenements. Therefore if Alpala is sold we have a lot of cash (which one would hope some would be returned to shareholders) and potential, but would need the drill bit to pump the price.

The main thing I believe ALL Solgold shareholders should be worried about is if CGP manage to replace the Solgold board (less likely now changes have been made).... CGP have not had a bid except from Solgold... I think they know that another bid is unlikely and are worried about funding their $400m CapEx in the next couple of years AND the largest shareholders have been in it for the takeover, not to become a mine developer.

Imagine this scenario.... CGP replace the Solgold board with people they put forward, i.e. their allies. What is to stop them increasing the CGP offer to "fair value" or to renegotiate the ENSA agreement removing such punitive clauses as the dilution to 0.5% NSR that Solgold can buy out for $3.5m if they don't contribute to CapEX....

That is why, if an EGM does materialise, then all shareholders should vote, in my opinion, to retain the current board.... But this is all my own opinion and all should DYOR of course GLA

Adding to what you said rcgl2 it sounds like they've been engaging with stakeholders and major shareholders in the process of reviewing the board. My assumption is that they will use this process to ensure that the 3 additional non-execs that are yet to be appointed are (at least informally) signed off or endorsed by the very shareholders or financiers that they need to be on side....

This makes a successful EGM to de-seat the board even less likely!

Totally agree Pinot, they're running out of ammunition. Am glad to see that Corporate governance has been reviewed and is being strengthened, may bring CGP to the table...unless it is just a personal vendetta against Mr Mather, in which case it'll become very clear how unprofessional this attack and EGM to change the board is... GLA and DYOR

How about we split the role 50/50 and I spend half the week trying to sort out corporate finance deals for the mine and development and you spend the other half trying canapes and shouting at the hotel chef for not using enough truffles?

Bit better?

Here's mine Quady:
- Sell 35% equity in ENSA to big player using c$7b updated NPV from PFS as benchmark raising $2.45b at project level, potentially alongside some kind of cooperation agreement to use expertise from a BHP or Barrick.
- If CGP takeover is successful that leaves Solgold with 65% worth of costs to cover = $1.75b / 3rd party covers the other $1b
- If CGP takeover is not successful then Solgold covers 50% of costs at $1.35b, CGP covers their 15% at $400m and 3rd party covers $1b. OR of course we buy out CGPs 15% of ENSA for $3.5m once it is diluted to a 0.5% NSR when they can't stump up their 15% of Development CapEx.
- I'd use $1b-$1.25b cash of the ENSA equity sale alongside some streaming or offtake agreements and debt to cover our proportion of the Alpala development costs.
- That would leave us with between $1.45b and $1.2b cash. There would be some take I assume so take off say 40% (random figure and because I like to er on the side of caution) so we'd have between $870m-$720m in the war chest.
- Although not in Nick's nature (if you look at DGR) I'd pay 30% dividend so $261m-$216m (£205m-£169m) or 13p-11p per share which would give a lot of people a nice little pressie, alongside the clear uplift in share price.
- Leaving $609m-$504m in the warchest which is enough for all regional exploration and to bring one other project to development decision at which point, by that time, we should have some cash flows from Alpala to help with CapEx and continue to progress other regional projects through PEA/PFS/DFS etc...

That's how I'd like to see it play out...

..when they did... Hmm... Perhaps they knew this was coming....? Another piece to a puzzle that suggests they are behind this CGP move.... DYODD of course and GLA