Confess Iām relatively naive regarding how these ADRs will work, so have done a bit of research. They seem relatively self explanatory. āTo offer ADRs, a U.S. bank will purchase shares on a foreign exchange. The bank will hold the stock as inventory and issue an ADR for domestic trading. ADRs list on either the New York Stock Exchange (NYSE) or the Nasdaq, but they are also sold over-the-counter (OTC).ā
One question though... presumably, in order to satisfy US investor demand, BNYM will have to purchase shares on the open market, and be custodians of them. As such, will they be subject to TR-1 notifications, thereby allowing existing shareholders (i.e. us!) insight into US investor demand?
Ā£5bn is about a 16% premium to todayās MCap. Thereās a risk any such bid wonāt succeed, so Iād expect around a 10-12% rise. So around Ā£1.95. to Ā£2 would be my guess, but wtfdik.
Thanks FK.... thought I might seek out an opinion before taking the plunge here.
Hi... Iāve been doing a bit of research here, with a view to investing. I like what I see, and believe from what Iāve uncovered thereās plenty of scope for future growth, and potential SP rises to come here. One small concern I have though, and Iām hoping one of the posters or someone who has held for a while here can put my mind at ease.... there has been some fairly regular, and chunky, director sells. (To be fair, there also some fairly regular purchases as well). Anyone else noticed this, and has any rationale, other than the ubiquitous ātax reasonsā been behind it? Thanks in advance.
Well that looks pretty decent to me. Markets might be a bit jittery this morning, however I for one would be disappointed if we donāt see a reasonably favourable reaction in SP here. But what do I know.
Strong hold for me. Iād add, but donāt have spare funds.
Looking forward to Bozi taking a reality check in 2060 whilst Solg are still drilling and spinning their wheels in Ecuador, and frantically trying to cut his holding to less than 2% of his portfolio. And selling at 22.5p.
Hi again Grim, think youāre perhaps being a wee bit paranoid? No offence intended, but Iāve got no reason to spout BS, mislead anyone, or to unjustifiably talk down this share. You try searching the story.... thereās not a lot of information available, well certainly not easily, because I did just that before posting. Unable to find much, I asked the question on here, hoping that friendly posters would help me out.... which you did. And for which I thanked you. Thatās the purpose of this board. Sorry if my tongue in cheek poke at NM offended you, but it was far from contentious given his track record here over the past few years. More measured, and mannerly responses without personal attacks on posters will benefit us all.
Hi Grimbergen, apologies for taking so long to respond Iāve been out. I wasnāt involved in Solg at the time, so my research doesnāt stretch back that far. Wasnāt muck raking, or deramping, just looking for facts. Which you have supplied. Thank you. There was no need to be so rude and abrasive in your response though. It wasnāt called for, and thereās quite enough of that on here..
To partly answer my own question, a quick search shows that NM was able to raise a quick Ā£ 15.1 million by way of a placing on the back of the Fauro assays.... but what became of the gold they allegedly found? Is it still there? Do we still own it? Why has it all gone quiet? Is there an NM pattern of behaviour, or am I being a conspiracy theorist? Anyone know?
Nobody responded to rcgl2 query earlier, so Iāll repeat it in the hope that those around at the time remember (Iāve only been here since 2011 but it feels a lot longer). What happened to all the potential at Fauro, which caused the 80p spike?
DBW Iād be lying if I said my initial response was positive, but over time and on reflection, I suspect it was probably for the best. We were clearly headed in the wrong direction, and cooler minds have been able to steer us back towards more realistic and shorter term goals. Regarding the presentation you mention....definitely. A clear strategy, and path to achieve it backed up by a sound financial roadmap is whatās needed, and sooner rather than later.
Quady in two of your recent posts youāve said.....
ābut imagine we announce that we can get an open cut leading to production in two yearsā which when not challenged, led to
āand at PFS we are going to build cheaper and quicker, that could easily bring it under 3 yearsā
Then further...
ā a go for gold strategy would bring in revenues close to a billion a year minus costs.ā
Just a friendly reminder that not a single drill or assay result to date has indicated that we have any near surface mineralisation which would support such a strategy. Yes, the PFS was delayed, again, with the stated goal of finding nearer surface stuff which could support open cut near surface work, but we havenāt found any yet. Which you know. Now itās ok to dream, and post what you want to happen on here, but when you challenge other (more realistic?) posters when they dispute your theory that weāll be pulling up gold in two to three years and paying a dividend shortly thereafter, thatās too much. I suspect Addicknt suppositions are far nearer reality than yours.
I do wonder if a lot of posters/investors on here even bother keeping up with the basic risk factors which could impact their investments. Zoros posted a very valid link, directly affecting anyone invested here (albeit in a couple of the more minor concessions) and everyone jumped into fake, incorrect, or old news accusations. Thatās todayās news, and Solgold are directly affected.