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(and I don't follow the news and comment here everyday) is why has the company never just come out and said it's up for sale and plain and simple, just invite offers?
Is it even remotely possible that nobody has even shown any sign of interest up to now? That doesn't make sense to me, but I keep wondering that if noone has made an offer yet, what needs to change until someone does?
Every man and his dog has been talking about the need for resources, especially copper, for years, after all.
Oh, I should probably just say that I do still believe in the company.
It's just that something doesn't smell right to me.
I know that these things don't happen quickly, but how long have we been told there's people in the data room and all that carp?
In mitigation.. Scott has also said that at least some of the interested parties are concerned about the political risk in Ecuador. So whilst the two remaining candidates for President are both pro mining, perhaps buyers are want the election done and dusted and SOLG to do as much of the derisking as possible before making a move.
Also worth remember that in early 2025, so approx 12 months after we release PFS #3, Ecuador will be going to the polls again...
Apols for the typos... long day
Anon3, the only plausible excuse for potential delays and any buyers being a little hesitant may well be down to the recent Ecuadorian political debacles. Lets face it... buying SOLG or lining SOLG shareholders with loads of cash is just one transaction for any buyer that then commits them to much bigger transactions... 2 or 3 times the size. So buy SOLG for £2bln (just a conservative figure based on broker estimates - that ones for you DM)... and then it's another £2.5bln+ before production begins. Mmm! That's big money. But the bulk of it comes after the shareholder payout... hence whoever buys SOLG or ENSA becomes a long term partner to Ecuador. So in fairness, you wouldn't chuck £2bln down when you don't know much about your future Ecuador gov. Ironically what makes this a tad bit worse is that any newly elected president is going to have under 18months in power before the next election. So in theory... they have 16 months to prove themselves before voters go again. Hence it might be in 'political' interests to see a monster size (the biggest mine in Ecuador's history) approved and fully funded by Chinese or BHP etc announced by the new man or lady in power. 1000's of jobs created. Great PR and great result leading into the next elections etc etc etc. So lets all just take a breath and realise that there might be greater powers at work here. Post October 15th... the winner and new President might well be keen to sign the remaining red tape and bask in glory of biggest mining deal in Ecuador's history.
Yes it is possible there have been no sincere interests in a sale or JV.. of it is.
All the talk has only ever been hints at potential interest… Just like any estate agent will tell you there has been lots of interest recently… in the house that has been for sale for 2 years….. simply because someone glanced at its picture on the wall in the office while they were looking for something else…..
Someone signing an NDA to access the data room, can be spoken of as strong interest in our asset…. However signing an NDA Is relatively meaningless… doesn’t mean any offer will be made.
I have no doubts lots have signed it, and looked at the data… after all Solgold have said there were multiple parties doing due diligence for JVs almost 2 years ago. the question is why no one ever commits.. what do they see? That we don’t?
I wonder what qualification criteria there are, if any are needed, to get that data… one could suppose as shareholders we should also have access to it…
SharketMare, I think we crossed posts there but clearly thinking alike.
After 15th... no excuses though and to be honest... both ar epro mining so risk already reduced drastically from the Perez threat days.
That said... one of the candidates might want a toe in the water before deals get signe dover cough cough... he's already invested in Codelco's mine. Mmm.
Good point about Codelco. I do agree that current management interests are aligned with ours. Chucking the baby out with the bathwater seems kneejerk.
Could be a deal is already done and SC is treading water until post election when things move full steam ahead so share price is inconsequential. Maybe wishful thinking on my part as this is 80% of my portfolio.
Having seen the area and spoken to locals all are aware of it and dare I say it excited. I even met one lady who owned land in the adjoining village and she said everyone in the community was onboard. This tailings piece I think is more key than we think.
The revised PFS logical but why need it if you already have a bid? Could that bid be conditional on us doing this study? Who knows. Ultimately still bullish but we all need and deserve answers.
Also that FT leak - zero since on those interested parties...seems we get crumbs. Roll on 15th!
If it's down to waiting for political certainty, I'd suggest we're in serious trouble and if that was the only reason, I'd be very worried.
That apart, I was chomping at the bit to top up today, but forced myself to hold back. I can't see anything other than this continuing to fall now, purely because there's nothing to help keep it up.
I personally have zero faith in Cauldwell and think we made a major mistake in getting rid of NM (yes, Quady, I know he walked, but he basically had no alternative, imo) go. At least he had some character about him, love or loathe him.
There's nowt worse than a company that has nothing to say, but that's exactly what we've got now, whereas the company always managed to maintain interest previously. The consistently high number of posts showed that.
Which again leads me to ask myself "how long can a company get away with doing basically nothing?".
Anon3,
There's several key news events expected during or leading up to Q1 24 period so I don't think it's going to be silence from SOLG for 6 months. There's gov approvals, news on Tailings DAM site and then potentially a more exciting RNS telling us all about a exploration spin off or JV deal on a number of exploration targets... that's my assumption there.
Even a simple headline ststaing that we've farmed out or JV'd 6 licence blocks of high priority to FMG or Barrick would have many getting excited again and that's got sweet FA to do with ENSA.
At this juncture, I can only assume that Bob/Maxit as smart as they are must have foreseen this market drift on zero news. Therefore... for them to allow it means it serves a purpose. Quite frankly, I think it's absurd as tactics go but then I'm not Maxit or Bob and have not secure or dealt in multi-billion dollar deals.
Scott and co know the damage of 'over promising' and under delivering as they lambasted SOLG/Mather for it many moons ago.
But here we are with the CGP exactly in same position... promised fast and smart and instead we've got slow and stupid as some posters have assumed. Only time will tell and simply because the sp is 11p today and not 18p is not something that has to be definitive or suddenly an omen of the future. The share price has been 10p before and weeks or months later 42p. So opportunities beckon for some and squeezes for other more leveraged punters. The latter can force share prices lower than they should go through being forced sellers. The market takes no prisoners.
Yes, I remember that 10p very well Fort and kicked myself for a good while for not buying then. Mind you, things seemed a lot more dire then and as much as I might sound all doom and gloom, I'm a lot more laid back of late. Not only have I watched this take a shafting today, I've also taken a good hiding with HUM. Then again though, I'll be quicker to add to my position there because of it's really high SP volatility.
Whereas I think we're now waiting for something major to move the needle here, like that JV or a spin off. Or preferably an offer, of course.
Hopefully I'm just being overly downbeat.
I’m looking to load at load low tens again. This is sheer manipulation on tint volume and no real change in fundamentals
Who’d have thought another chance would present itself this low after the black swan scamdemic opportunity?
Support at 10 for obvious reasons
Its could be called a rollercoaster ride , but unfortunately there are no ups. Seems to a log flume at the moment...
Cinsta71. Your post.
"Having seen the area and spoken to locals all are aware of it and dare I say it excited. I even met one lady who owned land in the adjoining village and she said everyone in the community was onboard. This tailings piece I think is more key than we think."
You have just taken top spot on the leader board
Second place is a tie between bbg and copperpot.
But aquinaga is still in the running along with quady
Need a shyte…given your recent posts is it just me wondering why the hell you haven’t sold and moved on to pastures new?
Scott is this companies worst nightmare, and has to go! CEO's of small exploration companies need charisma, Scott has ZERO! When he was asked in the interview what are the short term share price catalysts, he started babbling on about something that might happen in 9 months time, what will the share prices be by then?
Lets get some corporate action going NOW! Split this piece of s**t company in 2 NOW! And get moving on a IPO, something, anything! That may just force someone's hand, we have done enough waiting for someone to emerge!
Shut the hell up about further studies and optimisations and get some action going NOW!
Good Grief NAL, are you here to jump on every poster?
You don't have any competition for being Solg BB's troglodyte! In that regard you are a gold medal winning world champion.
You need to keep up 1984, then you would know im a blackjack stooge, im also under contract
with lse. to increase the posts on here, and then for good measure im also in the employ of the money markets.
so unfortunately im here till end of contract, contradicting the daily unfounded posts. like yesterday when I discovered we have a poster who is actually on site in Ecuador talking to the villagers.
Eloro.
is a troglodyte! someone who was a groupie of the trogs back in the 60 s.
one of my favourite uk bands.
so I will take it as a compliment.
Eloro. im certainly not here to jump on every poster. just the ones who need there ridiculous posts shown up for what they are.
like someone claiming to have spoken to villagers near solg site,
and do you not find it strange, that all of these contacts and sources posters on here claim to have.
never ever, ever have anything negative to say. I find it amazing. why the sp is 11p is beyond me.
if we took notice of the posters on here who daily tell us there source said this or there contact said that
the sp should be paymasters elusive £4 by xmas.
This could be a good idea if feasible. One would like to think it has been discussed by management but who knows. For sure it would force ppl to the table if they felt the regional tenements were attractive as part of the package. Would it further detract from our SP or could it be the catalyst?