Member Info for seanhunter

Quady when you announce to shareholders that you are committing to a vast amount of spending with money you do not have, without a partner to shoulder the costs, they will run for the hills - because the best case scenario will be that value will be created many, many years down the line.

That's fine for you if you are prepared to wait 15 years to get back into the 40s and above, but for most of us it will be the last straw and we will sell up. The price will crash (regardless of the value of the asset, which might as well be located on the moon if we can't exploit it). Look how easy it is to fall, and how hard it is to climb again.

Then we will enter a financing death spiral - the SP way too low to effectively dilute anymore. Jeez our last placing at 16p confirms we are already in one. BHP paid 45p!

There will come a point where the SP is so low that printing more shares is pointless. The company could go private at that point, or it could simply run out of money with no means to raise more.

A mine is nothing but cost, cost, cost into the foreseeable future. I asked you when we would get the first tonne of ore into a lorry and you can't tell me - you, of all people, who so badly want a mine.

I can tell you that a bid is possible, and I can tell you roughly how it would pan out.

I'm told that a mine is possible but absolutely no one can tell me how it would even begin to become a reality, least of all not Caldwell.

This situation isn't a shock to me - I knew from the merger that we were in a race between a sale and catastrophe.

I remain very optimistic, and the trading is very good right now, but I think all this "all dressed up with no place to go" is wearing people down month after month and now what was once patent nonsense - that we will build our own mine - is starting to appeal to those who are desperately tired and willing to grab at straws.

I was willing to look at the case for a mine but no one can give me one - or sketch even the scenario - that doesn't involve debt, dilution, loss of control, or bankruptcy.

That's probably exactly what he would have said if we didn't need a smokescreen around the fact that we are sitting waiting for a bid or perhaps in talks.

Of course large holders and long termers want the FULL value from Cascabel but we blew that over many years and we are where we are.

If we did announce we were starting a mine, the SP would drop to 2p -4p but the trading opportunities in that range would be enormous until we bankrupted ourselves but that wouldn't be much reward for the faithful. Yet a sale now at 32p won't be much reward for the faithful. But that's what dilution does, it's what u certainty anfd drift does, it's what alienating those who could have helped us does.

Anyone else out there have the foggiest idea how we could start mining without financial ruin?

That was certainly my interpretation - what is more meaningless than saying you are considering ALL options?

Plus - "It will be in the Strategic review" is no kind of answer.

I think a bid, a JV, the money running out, or the licences expiring are ALL more likely to happen before we see a "Strategic Review". It's basically a term for kicking things into the long grass. We don't need any kind of drawn out review - the decisions are fundamental and simple and would be made by a strong management team in an afternoon.

Personally I think a mine is a suicide mission and for the company talk of it is all part of a smokescreen. If it's not a smokescreen, maybe it's a threat - buy us now or we will run ourselves into the ground, bankrupt the company, the licences will be lost and there will be many years of chaos before anyone gets this resource packaged up as neatly as we have it.

I hope I'm wrong - but what is the path to building a mine that starts bringing in income?

Given that you are the main supporter of the idea of going into production on here Quady, with all due respect your vagueness on this issue is alarming. I am 100% against the idea but I at least thought there was a "plan" which there clearly isn't.

A JV looks less likely to me than an outright bidder.

What about a royalty deal - surely that has to be the only option we actually have if we are serious? How would it work?

The dilution would be fatal to us small retail holders yes (that was always my view) but there seems to be those who think we can build a mine with what we've got in the bank.

I'd like to hear that scenario.

Genuine question to Quady and others:

Were we to go ahead and build a mine ourselves at Cascabel -

How long would it be till we are selling our first tonne of ore?

and

How much would it cost to get to this stage? (i.e. actually producing ore)

I'm not going to rain on the idea as a response, it's a genuine question for those who genuinely have this scenario in their heads (as those of us hoping for or expecting a sale are clearly now in a minority on these boards).

And let's keep it civil.

Nice strong finish today. The tide is turning once again from a low of around 15.7p once again. Excellent trading share at the moment, bid or no bid, mine or no mine.

Great post Fort. 👍

£1 a share?

I never believed I would say these words but QUADY I HOPE YOU ARE RIGHT.

I need to go lie down in a darkened room now 😂

Thanks so much for these, guys.

I suspect you made be right anon3.

Very bold thing to do though.

Cheers for that Quady (genuinely).

Thank you Snowman123. Much appreciated.

I'm not on Telegram and have limited access to Twitter but the last thing I heard from Warren Irwin on SOLG was immediately prior to Scott's presentation. Odd that he didn't comment afterward, or am I missing something?

Any link would be appreciated.

For all of us waiting for a bid (which seems to be a minority on here now) we are certainly all dressed up with no place to go until something happens, but it strikes me that no one has stuck their neck out more than Irwin in that interview in March. It certainly was the trigger for me to put everything I had in here, and - whatever the intention, if there was an intention - his "slip of the tongue" sent this share from 13.5p to 22p in days. I can't complain about that, nor can anyone else who benefitted from that rise, but it does seem strange to go so quiet since. Does he feel he said too much? Did he mean to say too much? I'm certainly not accusing him of anything untoward, I just find it odd that he mentions SOLG so rarely, unless there is chat I am missing. He is certainly one of the powers behind the throne who wants a sale - so why would they keep quiet when silly talk about building a mine is doing the rounds? Scott's presentation was about as dull and as boilerplated copy and paste non-committal flannel as we have seen down the years and in effect said everything and nothing. Maybe it's the silence of other people which really speaks volumes at this time?

Still we have always been the leakiest company I have ever invested in so perhaps the silence means nothing.

Any links?

Do be quiet worm. I said I wasn't talking to you.

Clue for you though:

29/6/2023

08:12

I do note that the trolls fully believe me when I say I've bought shares if the share price then goes down. But not when it goes up. 🤣🤣🤣

Anyway apologies to decent posters on here I vowed not to get involved with the trolls again...

However, just to check - anyone on here declare (or think) we will lose all our licences in six months? Just curious...

Just to warn you all, there's a very credible poster on the other board called Cym who says we are going to lose all our licences in six months and the SP will be 1p - 2p.

He says he got his information from *this* board.

I'm only mentioning this because some of you think the deramping is getting desperate on here lol. This board is a picnic lol.

👍