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Can’t agree to spend $3.2bn unless they give us an exploitation agreement too
Catalysts continue to appear
'84, absolutely right. All of the catalysts are gradually being put in place and are designed to allow us to describe the project to interested parties as being 'turnkey'. That's the aim, and SC is making good progress.
Locks away some of the political uncertainty
Does this agreement increase the possibility of a takeover?
Schlem, it removes one of the hurdles and should provide more confidence for interested parties.
Exploitation phase and execution of that before May 6th is the final lock in process.
So we have the following lined up in next 8 weeks in no particular order
1. Technical report - due before April 1st.
2. Full year results accounts sign off before March 31st
3. Exploitation agreement 'executed' before May 6th
4. A funding solution to keep lights or or some monetisation event (before March 31st due to accounts sign off I believe)
5. Directors awarding themselves more bonus shares... they never miss a deadline on that one lol!
Strap yourselves in then... after 18months of zero progress... Bob and co suddenly seem motivated to deliver. Lets hope they don't issue 157m shares to their buddies at a low sp price as that really will stink a bit. I'm expecting it and have been for a while, but part of me is hoping Maxit and co are bigger and better than that.
Fort ….. maybe a little bonus or two thrown in along the way
Blanca ??
Fort in summary, apart from the exploration agreement, lots of news THIS MONTH.
Schlemiel, absolutely... super majors want the red tape sorted before they step into the ring as it often costs them much more when they initiate it simply because of their known deep pockets.
As mentioned in my last post, it's the 'exploitation agreement' execution which matters as well as it locks in the legals and other stuff on social and environmentals.
I think SOLG need the tailings / land acquisitions finalised before they can execute it. SOLG can execute the agreement anytime after the Dec 6th 2023 signing. But they only have 6 months to do it in. Hence... it's coming very soon.
When you throw in the recent Chinese appointment of non exec... I think the story is being laid out loud and clear.
The technical report has filing date of March 31st but again, I think you'll probably see that very soon too because they CANT do any insider / finance raising without issuing that to the market first for obvious reasons. So we might get Technical report very soon followed by finance deal followed by land purchases followed by execution of exploitation agreement followed by .... Sale or monetisation event... and all before early May in theory!
Fort
cheers fella
appreciated
Fort, re: "2. Full year results accounts sign off before March 31st "
I've flagged before - SOLG reporting year is June to June.
The end-Dec results were included in the Interim report/MD&A in mid-Feb. No audit sign-off.
Only the full year - June to June - results are audited. These are released towards end of Sep each year...
... usually in an RNS titled "Audited Full Year Results"
The following will arrive before end of March 2024:
- Alpala technical report
- Regional news
- Exploitation agreement
- Funding
The Chinese would have a hard-on seeing Scott sitting next to Noboa yesterday. They also have unlimited amounts of cash at their disposal - would they pay £3B to acquire Solgold? YESSSSSSSSSSSSSS
A group (or several) has provided a conditional commitment to Solgold for the $3,2B funding. Jiangxi friendly arrived on our Board 10 days ago.
We have two months cash to cover admin costs so news re project financing is imminent - my guess is that SP will hit 12p tomorrow and 20p by next Wednesday.
JWB, only a week os so ago you were on here trashing the share and telling us we're all idiots. Now you pop up ramping some other share on this and multiple other boards. Do you mind if I ignore you?
Regional news = sale of porvenir + update re anything of substance covering exploration
Add, I will say that Scott is doing a great job when the SP is back to where it was when he took over. I can't bring myself to praise the man who overseen the decimation of the SP. I want to have the option to at least get my money back.
I will say however that things have started to move in the right direction.
NMM, you are correct, SOLG run from june to june for some god unknown reason! Do TSX rules require them to ensure/prove 6 months cash on forward work programme basis? Hence, when's the next MD&A? 15th May looks latest for 3rd Q/ MD&A but as we all know... fiance from some form needed well before then.
Eloro, life would be so much easier if CEOs could control the share price of their companies, but they can't.
SC inherited a godawful mess and has spent the past year sorting things out, evolving a plan and then starting to deliver it. If you'd had your way, we'd probably still be without a CEO and the game would be over.
You were wrong and events are confirming the fact.
Addicknt,
The god awlful mess you refer to (I can't see it myself) was valued by the market at 22p+. It's this god awful poor attempt by this management team to try and take that apparent 22p+ mess and turn it inot a 5.6p mess as of Monday this week.
Launching an SR almost 18 months ago and then not delivering an outcome is nothing more than sending the market 'we're in a mess messages'. Running the cash pile down to sub $8m as of now puts us in a mess. Moth balling the company / exploration plans for 18 months... puts the biz in a mess in terms of appeal to new investors.
The list goes on.
So I don't buy this... apparent 'turn-around' story at all. We are in a bigger mess now 6p than we were when we were 22p.
The mess started when the keys got handed over to the CGP boys ... end of.
Whether we come out of that mess in a better shape... who knows??? But to suggest Scott has turned things around is utter tosh.
He's delivered very little while burning through $85m in cash! That's factual.
The PFS was welcome but lets face it ... could have been sorted in 4 months based on shifting some metal pricing about. Not 14 months! The Ecuador agreements are a long time coming and should have been sorted under Lasso's presidency but instead we acted slowly and resulted in us having to undergo a stressful election campaign period and then dleays while Noboa got his feet under the table.
Here's a question for you. Do you think Scott has earned those 17m share options and do you think he deserves more awards in the upcoming remuneration (self appointed) nest feathering meeting?
Fort, to answer your question about options, if he delivers what we want then I won't begrudge them at all.
So tell me, do you not see how things are evolving and the direction we're travelling in? To repeat, if you'd had your way I reckon we'd have been finished by now. The government would have realised we were a joke company and wouldn't have othered with us. So sorry, I think you're barking up the wrong tree.
Addicknt,
Who know's? Hindsight is a wonderful thing. No point in making guesses on what could have been. Just deal in facts and reality. We are where we are for a reason... because this management team have allowed it.
We are too far downstream now to be turning back... so just a case of strapping yourself in and enjoy the ride. Plenty have jumped off long ago as the ride was making them sick.
If Bob and Scott ran a fairground ride, they'd be giving away paper bags with every ticket.
Lets move on... see how it goes and blow smoke up each others derrieres when we pass 50p. Anything less and it will be a failure of epic proportions.
Some investors have been here for over 10 years!
Fort, couldn't agree more, the past is the past and I suspect we can both agree that things are moving in the right direction. Ultimately, you and I want the same thing and it's my belief SC is taking us towards that goal.
Addicknt, agreed... certainly getting there and about bl0000dy time!
Looking forward to the next wave of news reports... and personally intrigued (still) by the valuestone non exec appointment.
BHP beginning to feel the heat... and that's good work by Bob and co.
What's more important is that they've got the backing of the bankers (BMO etal) and the markets will take note of this and their return to Ecuador in a material way