Member Info for theiceberg

Both..They had no money and their only asset are the shares...
It's a bit like somebody having no money and no job, so they instead 're mortgage their house.
In the past they have been so determined not to sell shares that they did placings, which they can't do in this environment. They paid bills in shares..which obviously doesn't cut it anymore.

They obviously don't have any friends , if they have to sell the shares on the open market like this.

The shares were being saved to help pay post DFS..

Now is the perfect time for Nick to launch his official bid, well maybe just after we've got the 150m!

Btw a quick calculation shows them below 8% now which is a noticeable threshold..

CGP only have an average though of 21p...
If they had been selling a any volume about 25p then they must have been selling at 15p...which i don't believe tbh.
The 18-22p rang e was a b it hard and we saw quite a few 1m 2m trades at that level week or so ago. Then it started to rise.

They viewed their solg shares as their golden eggs. It underpins their entire mcap.. Selling them would be the last thing they want to do and shows how desperate they are...also how do they explain to their shareholders that they sold well below where the price is????
I can't see them selling any more tbh

To add end of q3 they had 1.3m cash. They then paid some bills with shares..
End q4 850k in cash.
How the guess part...
End of q1....400k
Now 300k or about £150k...still with much more it needs to pay in bills....

Been gone spent

Accounts just released. ...special section near the back re a going concern.....they have 850k cash(so £450k) to pay 950k debt. With. note that this should normally be paid in 30days...
Apart from solg shares they really are bankrupt.
Imo the starting gun for takeover once the finance is sorted..

Addictnt...I think I am more saying, badly, is that the people newcrest are buying and have funded FDN royalties and streaming will fund solg...ie sandstorm and franco...

Essentially buying A$700m odd debt and royalties from FDM project. Essentially buying the gold production.
Then a further A$200m for red Chris and A$100m for haverion exploration MR E and potential PFS..

They didn't have enough out of their cash pile to fund all this and keep enough liquidity to stay comfortably capitalised...

For me the interest thing is that I believe solg have been looking at the royalty and streaming funders for their 150m requirement. .....
My guess is that they have freed up capital to fund solg ...:)

1.1m put on the bid again at 29p then a few just below that to protect it.
I refuse to believe that two days in a row buys at 30+p then when buys go below 30p somebody things it’s a good time to try and sell at 29-30p. Ffs. Are they so lazy they don’t get up until 8.10 to sell £330k of shares.?
Somebody is very keen imo to keep the sp below 30p and I don’t believe the are real bids.

In the 30s...
Notable that the 1.5m at 30p that was used to keep the price down yesterday has mysteriously gone....

Just my opinion but it's nothing to do with ggp..
Ggp is still many many months if not a year away from needing any serious cash like this...
Also is makes no sense for newcrest to spend £50m on 70% and then any sizeable portion on the remaining 30% at this stage.

It's for other projects imo, and as a defence mechanism against Rio..newcrest are poorly capitalised.

A general raise for the strength of the company maybe partly to help with ggp and the general exploration costs.

Maybe a chance that they will work with BHP for a joint bid for cascabel..but this isn't from a position of strength.
Just my opinion obviously.

They really tried to take it to 28p but got hammered with buys ended up at 29p.....a good day imo.

Yes your right. They refer to it as Blanca and Blanca 2...with Blanca 2 going to ENSA and Blanca 1 being the Carnegie ridge...sub

I would say a controlled climb. Tbh.

Re blanca, I made a mistake here I didn't realise it had been legally transferred from a solg subsidiary to ensa..
Because it's part of ensa my feeling is that Nick will be sat on the drill samples and won't send the m to ALS so he doesn't have to include any results in any CGP bid documentation.

Bmo capital are sat just under the 30p looking to sell a few, but not very many tbh

My apology cantor not finncap.
They left the book this morning in the early break to 31p and then came back with some large 900k-1m on the ask dma at 30p

Yes 1.5m from Finncap I believe.
But probably not all of it is real.

The improved gold recoveries. Particularly later on in LOM will greatly increase the NPV by PFs.
Should be as much as 50% increase with the discounted NPV with everything else included, such as lower capex silver now inc etc...

You hear a lot of BS on the boards concerning market makers gathering shares or a market maker induced fall.
The key here imo is that 2 market makers at one point left the book completely..the auction had nothing to do with retail and the rise was not due retail buying....
Fwiw I think it's stopped now..but a good way of getting traders to sell

An interesting display of market makers behvaiour.
My guess is that volume was needed...put some on the bid to force an auction and a 1.5p gap up..then pull on the bid, take it really quickly up without volume, then collect the shares with a control bid and ask...the market makers keep well out of it as they don't know the game that's being played and suddenly you've got a quick .5-1m shares...
If you need more shares then keep the control on..
There certainly wasn't any retail pressure for any of that imo.