We would love to hear your thoughts about our site and services, please take our survey here.
Whilst a fan of NM, this changing of the guard felt necessary, as did a clearing of the air re possible governance shortcomings and stakeholder dissent. Careless to let it happen to the extent it did but now it’s dealt with let’s hope it helps Solgold on its way. I’d like to be worth more, been stuck in this rut too long ...!
A new name CD. There’s a thought, and a challenge. ICI once spent £3M changing the font and removing one of the three wiggly lines. Aviva will always be Norwich Union to me.
However, CBeebies used to have a programme called the shiny show where the puppets occasionally won quiz prizes (which were shiny), and everyone went “ooooooo, shiny”. That could work. Or we could borrow from a classic Simple Minds track and become GlitteringPrize.com. They’re my opening suggestions, although given the weather, and following the Simple Minds theme, I’d take Sparkle in the Rain. Others may have better suggestions. Helps pass the weekend anyway ??
And their reply ...
The Placing RNS’s this week were not sent to the distribution list due to legal restrictions from distributing the announcements to several jurisdictions, as clearly stated in the disclaimer at the top of the announcements. As a result they were only released through the LSE RNS service. The use of PrimaryBid with the Placing was aimed at providing the opportunity for retail investors to participate.
Regards,
Fawzi
Same here. Just sent a stroppy email and the investor address converts to Eliza’s with a note that she’s left. Her auto reply had a link that worked. I reminded them that when they want our vote, they seem to go to great lengths to communicate but not when there’s keenly priced share issue.
Hi BNC and Novice. Aye, I think we are firmly in the “hold on for the ride” phase now. Inviting JVs of necessity involves sharing what we know about the better prospects in the pipeline. Either the SP goes up from the response to that, or from those interested parties also wanting to stop BHP and Newcrest running off with the whole sweet shop for a song. Turbulence ahead, fasten seat belts, but on no account try and exit the plane !!!
Brilliant presentation and performance. Now Solg, get that blooming pipeline valued up ASAP and JV some other majors into the subsidiary prospects a) to fund it and b) so there would be a proper fight in a t/o scenario. And while we are at it get the improved development narrative for Alpala out too. The board needs a legit basis for rebuffing any lowball offer and we need those stories turning into valuations. Sitting ducks at the moment. Gnash gnash.
For me, this was the best bit of the RBs:
In early March, SolGold commenced a process to identify potential JV/earn-in partners over 10 of its 100%-owned early-stage exploration projects containing 20 prospective concessions covering 86,000 hectares across Ecuador. These concessions were highly sought after during the original bidding process.
That’s a handy insight into where we are heading if ever there was one.
Lunch money, I’m used to projects taking 2-3 years to build and commission so the cash flow is all outwards during construction. Then there is the commissioning phase, then some steady state, then shutdowns for minor and major outages and targeted debottlenecking. You use BPV and IRR techniques to rationalise cash Flo over the life of the investment, starting from when the first sod is turned, in year 0
Ideally, non-execs taken together bring independent experience spanning all dimensions of a business. Sometimes they individually and explicitly buddy an exec directors own portfolio. I don’t think anyone would baulk at NM being the non-exec leading on exploration.
Tend to agree. There was a switch by certain characters to cornerstone, and their Solg holding was bought by BHP before NM could say ‘dingo’. That looked like an axis of evil in action with an eye to gaining control. And then discovering the bootstrap plan involved some of Cornerstones own tenement. Those two together are probably whats steered this move to self financing and independent operation, and along the way attempting to squeeze cornerstone on their Alpala funding obligations. So, back to a sensible geological / commercial plan perhaps, but with a politically weakened hand to play with when it comes to ownership longer term. Plenty of upside but perhaps not dizzy I fly high, or for that matter, quite so far off. IMHO
Aye ToS. The Chinese might pick a few up. Time is on the buyers side. Solg will burn through their reserves and if they’ve nothing to sell, the so will reflect that. Cue another big dilution with the majors cast as genial benefactors, .. at the right price. We need more benefactors, ideally ones who don’t meet up for a pint after work to talk about how to play us next!
I think the PI trading even on a busy day is a teeny fraction of the share book. If BHP started hoovering up, it wouldn’t materially increase their grip but the supply would tighten up in no time and the price head north which is the last thing they want. It’s as likely the big players would actually trickle a few into the market to keep us (and the sp) all a bit depressed. The price volatility is a reflection of the PI mood, the big holders are just sat holding their cards close to their chest, watching, waiting.