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Yummo
Just of to bed. Last look in to see how the boom went.
Oh bugger it never.
How many false dawns is it now.
Bbg, what does yummo mean. Is it a word you learnt in Italy, it's definately not Australian, not sure it's Australian either.
Funny that
3% off an all time high...
Compared to PF adds $31 BILLION to our copper in the ground...
Which at 1% is almost as much as our total MCap...just the increase...
So 1% of Cascabel's gold, copper and silver is now:
Copper $132,6bn + Gold $73.6bn + Silver $2.7bn = $209bn x 1% = $2.1bn / 1.26 = £1.66bn = 55p/share
I'll take 60p now please...
Funny thing is, I am Australian and its a word my parents and friends used to describe a delicious moment.
Maybe the truth is that you're cheap labour from the subcontinent
Too cheap red.
Lets get our project financed, and then in 12-18 months i'll consider accepting 300p
GDX and GDXJ both hit new 2 year highs...COPX a new 13 year high (i.e. the last metals bull market...)
I would agree normally BBG...I bought ATYM 1 year pre production at 80p and they're now 450 but...
Scott has made absolutely clear that we are not mine builders...
The purpose of the offtake agreement is:
1 Keep Noboa happy
2 Put an imputed value on Cascabel
3 Kick the bidders into bidding
Jiangxi is out backstop but who else will bid....who will start...and how far will Jiangxi go to get the prize?
If BHP lose out on Anglo surely they are serious contenders because the Anglo bid looks like an attempt to challenge the Chinese on controlling copper
Newmont could have walked away from SOLG as they did with GGP after the Newcrest T/O but they didn't
So Jiangxi won't get this without a fight...especially if they are not the successful 'offtaker'...
Copper going mental
I see Anglo have delivered their reposte to BHP. It might work... but I think BHP will have one last pop before May 22nd deadline. If they fail, then they might set sights on SOLG pretty sharpish as no doubt Tier1 mines do wonders for production hungry super majors.
Remember how the last offtake was going to kick majors into a bid? I can nip back and find the quotes where you brainless rampers repeatedly claimed that if you like? Or how jiangxi buying shares meant we only had months to run. If memory serves that was slug/red/fort (though no doubt novice will have been jumping up and down saying numbers in a squeaky voice).
How has the market reacted to today's news? Are we flying? Or are we the same price as 6 months ago? Down 50% in a year?
Beware the desperate scuba divers telling you everything is good and it's just about to pop. They've been saying the same sh** for years, and they've topped up millions at higher prices since. This has a very long way still to run, and today's RNS was a signpost to anyone who can read this company that we're currently a bit f***ed.
Well done to those who got out whilst they could. Better buying opportunities to come. 👍
Twat alert
Talking of predictions and statements that haven't exactly come to pass, who said a) this funding round would be a 'car crash' and cause massive dilution b) the sale of existing issued shares would cause dilution c) no one would invest in Ecuador as blood is flowing on the streets? Point c lasted for precisely 24 hours.
Whoever it was isn't really having a good run, is he?
Hi add. Thanks for your usual, authoritative reply...
The funding announced today was an absolute car crash, but worse than that it's not even medium term funding. It's a loan. A loan!! To kick the can down the road having not managed to secure substantive fundraising. Evidently the market suspected Scott would get this desperate, but I had higher hopes for him.
B) how do you think capex fundraising would work? Do you think a company is going to give Solg the cash to build a mine without wanting a share of what you own in exchange? This isn't a charity so you as a share holder are going to have to give something up to get the cash. That's the reality, and that's dilution.
C) loaning money to a London based company is hardly a ringing endorsement of Ecuador and it's foreign/domestic policy. Let's see if Chris/Scott are for real about a backer in the next few weeks. How long will it need to take before you admit this loan is bad and that you can't get owt for nowt?
Lol
They are having a much better run than byronramperbaygold 🤣🤣🤣
How else would the company raise money in a way which met with your approval? We needed working capital and we got it without your predicted massive dilution. Of course, if you know of other sources of finance I'm sure the company would welcome your advice. And whilst your at it, could you explain precisely why this arrangement is a car crash?
As for the long term project financing, none of us know how that's going to emerge, not even you.
As for investment in Ecuador I wasn't referring to today's news, but the previous deals struck by Rinehart and others.
We needed cash, we got it.
Buy high sell low
#stackenomics
Do successful companies take loans, or raise funds from investors? Just answer that question with either option, then start to understand why taking a loan is never a preferred route taken by good companies.
It's not about my opinion on what's best for financing. I just pointed out that Scott's non-dilutive claim was nonsense. The other day I thought you were slowly getting there, realizing that money doesn't come without giving something away.
If you're happy with today's admission of failure, good for you. I get the impression your investment strategy is based on blind hope rather than reality anyway, so it's little wonder the company can do no wrong.
Oh, and would someone tell slug that he's the one claiming to top up at these prices... God knows why. Some of us are safely out, bar a hedge.
'Do successful companies take loans?' Did you really ask that question? Are the capital markets a complete mystery to you?
I'm getting worried about you. Over the past month or so you appear to be running out of steam. Maybe it's time for you to take a break?
The fundamental disagreement here, add, is that I believe this is a loan drawn from desperation. It's not that we're going to make more money than the loan costs is in interest. I don't believe we're using it for Capital structure optimisation. And as a loss making company, it ain't for tax. So... Any answers, or just personal criticism?
You also believed that us securing funding would crash the share price, that it would be dilutive, that the Mexican embassy debacle would deter foreign investment etc. I think we can all be forgiven for ridiculing what you believe.
I think when we do secure funding (not just taking out a loan) we will find it to be a car crash. And there is absolutely no doubt that certain funds won't be able to invest in Ecuador if the international arbitration issues persist.
Want me to go back through your history, SM? We all know you rampers are FoS 👍
Quote from SM... How times change
"How much dilution to build Alpala. The company says minimal. I believe them."
Quady, were the company to say anything other than this the share price would tank."
So SM agrees that the company saying non-dilutive is BS. But because he can't stick to a story, he now magically believes them.
Funny that... 🤣🤣
Nothing, SM? You gone quiet. This game is to f***ing easy when the other players are such simple tools.
Twat alert
TOO f**king, poppet.
Simple tools indeed.
Now you've got my typo out of your system, care to explain why you were either wrong then or I am right now? Really don't mind which you pick - you look like a stupid c*** either way 👍