Solgold Share Discussion Threads

[original fastjet] 09/5/2024 19:13

Cymru will be back shortly as the share price hits the lows...
He did warn you muppets.
8.84p.....😆😆😆

[original fastjet] 09/5/2024 18:37

Brilliant day here again in Solg world lol.
Any sign of a bid yet you investment gurus Pmsl.

[mknight] 09/5/2024 17:43

Lowtrawler, lets hope you are right .

[lowtrawler] 09/5/2024 16:19

MK, the PFS was sort of on time. You may recall RP doing a T+20 trade timed for the PFS and it not happening until a couple of weeks later.

The current management team are only good for one thing - selling a business. They will tick the boxes they need to in order to progress a sale. Day-to-day operations are not their speciality - including kick the can down the road funding.

This is why I think a funding deal involving Porvenir is a real possibility. It would provide a guide price for Cascabel and stir some interest. It's the only funding option that would create bid interest.

[mknight] 09/5/2024 16:03

I thought the new team would have been more profesional. The PFS was on time .

[lowtrawler] 09/5/2024 14:56

MK, there will be news on funding. When agreed, there will be an RNS. A delay to making a funding announcement is something of a SOLG trademark. I have never understood what they hope to gain by leaving funding to the last minute but you should be used to it now.

I reckon a deal needs to be in place by the end of this month and so only a little more patience is needed.

[mknight] 09/5/2024 14:18

Well another day and still no news of funding . Not what shareholders deserve . If it was good news then sharholders would have been informed so i guess it best to prepare for the worse .

[hazl] 09/5/2024 11:03

Time will tell here.


The resource will be desired that is the only thing we can be sure of I imagine.

[lowtrawler] 09/5/2024 10:30

For anyone interested. SOLG were in the MSCI UK Small Cap Index until the 14 February review last year and so fell out with effect from 1 March 2023. An event which largely went un-noticed and un-commented.

[rougepierre] 09/5/2024 10:17

Sorry for that post loganair...you probably don't understand the significance...

[hazl] 09/5/2024 09:40

A day is neither here nor there....but a month or two shows that we have a fairly narrow trading range and even trajectory, to me anyway.

[original fastjet] 09/5/2024 08:07

Another down day ahead here.
No news on the horizon just cash burn.
Pmsl what a load of old fools you guys are.
Hilarious

[original fastjet] 08/5/2024 19:14

Rampers heaven here.
Old red colostomy bag going for it today.
Yep the guys full of it!

[mknight] 08/5/2024 15:29

Rougepierre, i would prefer to believe you are right but until we get news we wont understand forsure .

[rougepierre] 08/5/2024 15:19

Given all the speculation, the radio silence, the copper and gold prices, the BHP/Anglo saga, the metals bull market and the potential M&A frenzy, it could be that they've had a pending deal or deals for some time (after all Scott mentioned 10 EOIs for offtake deals...the most likely funding...in the PFS3 report on 12 March)...and that they are simply negotiating the very best deal...which keeps getting better...

But they will have to conclude before the MD&A on 15 May IMO, otherwise the market will be preoccupied with how much cash is left and may move the share price down accordingly...

So these may be the last chances to buy sub 9p...who knows until the white smoke comes out of the chimney...

[mknight] 08/5/2024 15:00

What would be the reason not to be funded up by now ?

[rougepierre] 08/5/2024 13:52

Actually they're going to spend $300 million...

[hazl] 08/5/2024 13:50

My goodness when the cat's away!


What changed we were doing well this morning?
Oh the two 'L's are back!

I just ignore them.


Log seems to have a particularly poor record from the little I've seen.


IMO

[lowtrawler] 08/5/2024 13:08

loganair, no it wouldn't. The cash was as at 31 December, not 1 month earlier. Cash is always at the specific financial reporting date.

[loganair] 08/5/2024 12:43

When any financial report is released by any company any cash left in the bank would have been for at least 1 month earlier = run out of cash in June.

[lowtrawler] 08/5/2024 12:33

loganair, see my comments above.

RP has confused the 3 month run-rate with the 6 month and so believes their cash burn is half the level it really is. The lowest cash burn I can see for 6 months is $12m but it could easily be more depending on how much ongoing cost is booked into the acquisition of exploration and evaluation assets.

As they had less than $13m cash at the year-end, they might not need cash until July but it could run out in June.

[loganair] 08/5/2024 12:20

Solgold themselves said they're spending £30mln in each of the next 2 years = £60mln over the next 2 years.

They also said they would need to raise more funds in June.

[lowtrawler] 08/5/2024 12:15

Rp says:

The cash burn for the 6 months to 31 December 2023 was:

$10,069,455 million

Net cash outflow from operating activities (3,545,190)

Acquisition of exploration and evaluation assets (6,430,306)

We are clearly not doing any drilling, so the cash burn could be as low as $600k/month...

No, these figures are for the 3 months to 31 December. The 6 month figures are:

cash burn $19,622,260
cash outflow from operating activities $6,776,720
Acquisition of exploration and evaluation assets $12,515,169

On this basis, the cash burn could be as low as $1.2m per month - not $600k

However, it is unlikely the spend on acquisition of exploration and evaluation assets has completely disappeared. This appears to be where they book a lot of the employee costs and I suspect will not fall much below $2m per quarter. Hence, they probably have a cash burn of around $2m per month. On that basis, they are likely to run out of funds in July.