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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Solgold Plc | SOLG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.44 | 3.91% | 11.70 | 16:35:16 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 11.40 | 11.26 | 11.68 | 11.70 | 11.26 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 25/7/2024 11:17 by rougepierre So lets get to the root of why people are unhappy or frustrated on here, despite this now being one of the most compelling mining stories on the planet..."I want my money back..." Stock buying is too often based on greed or even stupidity...look at FOMO and watch what happens with NVIDIA etc... People frequently buy shares because they got a tip...or they follow the money when a share price is roaring...like the guy on here with a break even of 45p from years ago. Irrespective of my background I learnt a long time ago the following keys Only invest in something you understand Where possible specialise (my portfolio is all mining stocks mainly copper and gold) Research research research...and take a fresh view every day...that may sometimes lead you to sell the lot or a substantial portion. I have twice sold when the share price doubled but also massively reduced when Ingo and Ayten left before building back to our 3 million Don't panic...weigh the pros and cons and be prepared to take a loss to avoid a bigger one So...plenty of people on here, including me, are waiting for what we regard as an inevitable takeover bid or bids. And then its a long time coming...and the share price falls or doesn't progress fast enough.. And eventually people think out loud and blame the company, Scott or even fellow posters. So the next lesson is always take responsibility for your own decisions...no regrets...you cannot change the past... So when things go wrong ask yourself what you learned...what you could have done differently or better... Finally, always have a target in mind and stick by it...it may change when circumstances change but when you reach a target, make a committed decision...stick, sell, sell half...etc. And of course stop losses make that decision for you. Read through all the stuffyou receive daily...distil out what is commonsense...listen to the little voice in the middle of the night and live by your decisions. Blaming somebody else does you no good and you don't learn by it... Why hasn't there been a bid(s) There may well have been informal approaches...it would be astonishing if there hadn't. It was in the public domain that BHP wanted to buy the company years ago, when they settled for a stake at 45p...some people might wish SOLG had accepted a bid with what has happened since. But actually the story gets better. It is a racing cetainty that Jiangxi will have asked...and the Ecuador Mining Ministry publicised Mitsui's wish to buy Cascabel... You don't get that many people on the data room and even signing NDAs without at least some wanting buy SOLG. And I suspect they all know what the starting price is... The FNV fundingon a copper gold equivalent basis validates a NPV of $3.2 billion and therefore 80p a share. Now the Board are legally bound to announce any formal bid, but don't be surprised if they recommend against it at anything less than 80p... But then it will be for the shareholders to decide. But then again it is very possible that buyers want only Cascabel. Having thought it through that certainly appeals to me and I suspect the Company would agree to that at the right price because then they would have more than enough to pay a special dividend to shareholders and reinvest the rest in the other 89 projects where there mat well be other Cascabels But not a JV... I am certain in my mind of two things (among others) That the Funding Package has woken up the market and potential bidders big time. It makes Cascabel credible. I have no doubt that the remaining $900m is doable whether through copper offtake, streaming, smelter deals or even non equity debt. Why? Because SOLG now has enough money to take Cascabel all the way to starting the construction of the mind. There is no missing permit now that can stop that. Second that the chances of an opening bid have massively increased. The Funding Package is no bar to that at all. A prospective bidder can decide whether to take that package on or they could buy it out. There is a buyback clause in the agreement but in any case there was no buyback in the Lundin package and Newmont were still able to buy it out. So the company is committed to moving forward to turnkey status. There is no need for the $900 million now..they can wait until the perfect time to do a copper based deal when the price returns to above $5...and it will... So that means any company seriously interested in buying SOLG or even Cascabel, has to move soon. They don't even need to do any more due diligence (except the thorough stuff that comes after a successful bid) because the FNV deal was 6 months in the making and immensely detailed DD was carried out on every single aspect of the project. So in conclusion the Company ideally wants to sell Cascabel but would consider a bid for SOLG if the price is high enough. In the meantime, it is entirely right to carry on doing everything necessary for building the mine. |
Posted at 17/7/2024 17:31 by ifthecapfits SolGold(LN: SOLG) US$750m financing package complements phased development approach; Cascabel further derisked SolGold (“SOLG”) has secured US$750m in gold stream funding for Cascabel from a syndicate comprising 70% of Franco-Nevada Corp (“FN”) and 30% of Osisko Bermuda Ltd (“Osisko” |
Posted at 25/6/2024 23:00 by hazl The RNS does have to be read in full.Those that cherry pick to support their case are not doing themselves any favours or investors. Yes there is uncertainty, that is why it is a fraction of the value of the resource. But the funding discussions are 'progressing'. The last paragraph, seeks to reassure but only time will tell, if things go in our favour. 'SolGold (LSE & TSX: SOLG) is pleased to report that Management's discussions for a significant potential funding package ("Financing") for the Cascabel Project ("Cascabel" or the "Project") are progressing. As an interim measure, Franco-Nevada Corporation ("Franco-Nevada") provided a US$10 million loan facility ("Loan Facility") to the Company. The Financing and Loan Facility were previously referenced in the Company's news release issued on May 14, 2024 ( The Loan Facility was provided to support SolGold's ongoing operations as discussions regarding the longer-term Financing advance. Franco-Nevada is a valuable partner in the Project and is very supportive of these developments. The $10M Loan Facility provided by Franco-Nevada is subject to a 12% per annum interest rate and matures on 19 July 2024. The Company cautions readers that, with the exception of the Loan Facility, it has not entered into any new agreements regarding such a transaction, and there can be no assurance that any discussions that have taken place will result in such agreements. Given that SolGold is presently in discussions, the Company does not intend to comment further unless otherwise required pursuant to applicable securities laws and regulations. As we continue to work to advance the Cascabel Project, SolGold remains committed to delivering significant value to our shareholders. We are focused on securing the necessary financing to develop the Project and are confident in its potential to become a world-class copper-gold operation.' imo |
Posted at 14/6/2024 12:29 by lowtrawler Last post. I think I have run out of anything new to say or contribute and so this will be my last post. Before I go, I will summarise my views on SOLG and what I believe is likely to happen.Cascabel is a world class resource but in a difficult jurisdiction and requiring block mining expertise. Any internal capacity for SOLG to develop Cascabel was removed over the past 2 years as the strategy has focussed on a business sale. A lot of interest has been shown from potential bidders but none have bitten. With the updated PFS and support from Ecuador Central Government, SOLG are in a good position to advance towards production over the next 2 years and obtain all the local permits along the way. This is unlikely to be a smooth ride but I would expect SOLG to successfully navigate these obstacles. Their issue will be starting production without a bid having been made. They will not have the expertise nor financing to take that step. Failing to take that step will likely leave them in default and at risk of losing the Cascabel license. Hence, an early business sale is now more important than ever. Potential bidders will not want SOLG to enter any more NSR arrangements and nor will they want any off-take arrangements. If SOLG long-term funding involves either of these, it will put off bidders. IMV, that makes a bid likely before the long-term financing is agreed. Everyone has different views on the potential pricing of a SOLG bid. IMV, a realistic bid price will be somewhere between £400m - £1.2bn. I believe it is possible for a price of more than £1.2bn but only under very competitive bidding. The key risk is a bidder not arriving. Potential bidders will be judging whether to wait for SOLG to go into default or to move now. IMV, if a bid is not made prior to the longer-term financing, potential bidders have decided to wait for default. As always, best of luck and hoping you all get the price you want. |
Posted at 12/6/2024 11:08 by lowtrawler Lurker, are you able to expand on why you think "Solg is actually over a bit of a barrel"I'm one of the bears on this thread and have never been able to properly articulate what is holding SOLG back. My basic premiss has been: 1. SOLG stopped planning to develop Cascabel themselves about 2 years ago and also abandoned any plans to explore the regionals. 2. This left them with a single strategy - sell the business. 3. While there has been a lot of interest, no buyer has actually stepped forward. 4. In the absence of a buyer, they no longer have the skills nor finance to advance Cascabel to production. 5. All they can do is wait for a buyer to appear but the Ecuador government will not wait forever and the exploitation agreement suggests they have around 2 years. 6. If a buyer does not step forward in the next 2 years, SOLG will be unable to meet their commitments. This puts SOLG into a position where they HAVE TO sell in the next 2 years or risk losing Cascabel through default. Potential buyers are aware of this. However, whether they buy from SOLG or from the Ecuador government following default, they will have competition and have to pay a fair price. In essence, there is no reason for them not to bid for SOLG now unless SOLG are demanding an unrealistic price. |
Posted at 10/6/2024 10:02 by rougepierre lurker...as you know, I've been inter alia a Private Client Stockbroker and a Pension Fund Manager.And as you also will know, the hardest question to answer is "should I sell Bloggs Limited." What your posts seem to indicate is that you have not taken profits in the past. So to be factual. I have twice doubled our money and sold out half, making over £200k so far. I confidently expect to make much more than that later this year. Two years ago, in May 2022, as people will recall on here, I had built my own personal holding up to 1.8 million when the share price fell from 40p to 25p...at that time that was by far the most I've ever held. My wife held 800k. But not long after I had cut right down to 400k (and 200k for Mrs) because of growing concerns about what was happening. We are now back at 3.1 million at 9p overall which we will probably retain until there is a successful bid for Solgold So why did I cut back so drastically? (And BTW none of this would be a surprise to posters who were around at that time, because I openly conveyed my actions and opinions at that time and since, because I had previously been accused of lying.) I have been for several years in direct contact with Ingo. I also developed an excellent relationship with Ayten Saridas which abides to this day. And can I be clear I have never been in receipt of inside information... Darryl's appointment was the first warning sign. I totally agree that Nick had been guilty of overpromising and underdelivering and directly wrote to him to say so. Around that time I also had an extended one to one with the Chairman, which filled me with real concerns about Corporate Governance and the future share price. Then Ingo left...and Ayten resigned... And what you should now know is that Ingo had concluded that Cascabel was unfundable in the market because of the size of the company and without massive equity dilution. Also that Darryl had gone rogue with a failed 'cashbox' funding which quickly became open knowledge in London markets. Then he went direct to another 'streamer' while Bob was actively engaged in putting together the Osisko deal. In short, I and other very clued up and well connected posters on our Twitter feed now realise that if he had stayed, SOLG would have gone bust. I'm sure you will agree that it has been a long haul. Bob was too precipitate in creating an expectation that he would find a bidder(s) "fast and smart"... So here is my view of the current scenario: The Exploitation Licence is in place, together with the necessary protections. SOLG is in the process of finalising "NON EQUITY, NON DILUTIVE" financing which will be 'significant'. IMO that will do two things: 1 It will put an imputed value on Cascabel 2 It may well stimulate bid(s) and frankly 'normal' market metrics will go out of the window once a major(s) take on the Chinese State (Jiangxi) for whom it would be a strategic coup in both Ecuador and copper/gold There is one outside possibility. That a major partner that has a block caving capability takes a majority stake in Cascabel, thereby also putting a value on this Tier 1 resource. So in conclusion, it is never my intention to big myself up. In response to you I have previously established my career experience; now you may understand better my Solgold investment experience. My proposal therefore is that the exchanges between us do neither of us much good, so why not engage with me in constructive dialogue rather than constantly and rather arrogantly trying to dismiss my credentials for reporting fact and informed opinion about Solgold. |
Posted at 03/6/2024 13:38 by rougepierre loganair...if you hold SOLG shares these statements are disgraceful and suggest you are mentally unstable so...You are clearly a deramper and HOLD NO SHARES WHATSOEVER... Otherwise why say these things? "Solgold have circa 10 weeks of cash left in the bank, so looks like either they'll have to try and raise a further $10mln to keep the lights on or go bust...." And "Currently and for some time Solgold have been and are extremely financially distressed. From 31st December 2023 to 31st March 2024 Solgold burnt through over $9mln, that's over $3mln per month. The $10mln loan will last Solgold no more then 4 months and they have already gone through the first month of that. Solgold also said they would be spending $30mln per year over the next 2 years = $2 1/2 mln per month. This means that Solgold will run out of money somewhere between mid August and the end of August." UTTER TOSH!!!!!! The statement about $30m a year is way out of date. The MD&A states they only NEED to spend $754k over the next 4 years. So as I have already pointed out...drilling and licence spending is discretionary. You are either dishonest or inept with no financial experience using the 3 months HISTORY to project the future...APART FROM THE OPERATIONAL EXPENDITURE... which is fixed...and was $810k for the same three months. The QUARTERLY FINANCIAL REPORT Cashflow Statement shows for the THREE MONTHS: $817,249 spent on Operational Avtivities and $8,457,880 spent on "Capitalized exploration and evaluation expenditure" The large amount of this was spent on preparing the revised PFS announced in March. I repeat...the only requiremnt for "exploration expenditure" is $754,126 for the 4 YEARS from July 1 2024. Thats $12k a month. STOP POSTING UNVALIDATED LIES |
Posted at 16/5/2024 15:45 by havinthelastoast MenuSearch Stock Search MonitorMonitor QuoteQuote Level 2Level 2 PortfolioPortfolio ToplistsToplists NewsNews ForumsForums MORE Market DataMarket Data Expand More Icon NewsNews Expand More Icon Trading ToolsTrading Tools Expand More Icon MarketsMarkets Expand More Icon DiscoverDiscover Expand More Icon 🔥 HOT FEATURES Follow Feed Follow Feed Connect with traders and investors in our Follow Feed community. Options Flow Options Flow Explore comprehensive options data and use advanced filters with Options Flow. Monitor Monitor Organize and monitor your stock and asset watchlist with Monitor. Sign In Premium Solgold Share Chat - SOLG Solgold Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker SOLG. The last closing price for Solgold was 8.88p. Over the last year, Solgold shares have traded in a share price range of 5.67p to 19.48p. Solgold currently has 3,001,106,975 shares in issue. The market capitalisation of Solgold is £266.50 million. Solgold has a price to earnings ratio (PE ratio) of -5.29. Current Price 8.88 0.00 0.00% Bid Price Offer Price 8.93 9.00 High Price Low Price Open Price Shares Traded Last Trade Market Cap 0.00 01:00:00 266.5M Solgold Share Discussion Threads Next Page Date Subject 16/5/2024 07:54 havinthelastoast: Highlights of the Period Include: · Completion of the updated Cascabel Pre-Feasibility Study ("PFS"): The updated PFS incorporates a phased approach plan, significantly reducing initial capital costs. Key figures include a pre-tax NPV8% of $5.4bn, 33% IRR, and a post-tax NPV8% of $3.2bn with a 24% IRR. The PFS presents significant copper, gold, and silver production estimates over a 28-year mine life, updated mineral resource and reserve statements for the Alpala Deposit and an updated mineral resource statement for the Tandayama America deposit. (PFS Announcement) · Appointment of Mr. Jian (John) Liu and Mr. Charles Joseland to the Board of Directors: Mr. Lui and Mr. Joseland bring extensive experience and valuable insights that will support SolGold's strategic initiatives and governance. (Directors Announcement) · The Blanca-Nieves Project Exploration Update: Assays from channel-saw samples of gold-bearing epithermal quartz vein outcrops at the Florida target returned results of 6.15m @ 7.46 g/t Au, including 2.2m @ 21.1 g/t Au. Additionally, a significant porphyry target has been identified at Cielito Norte, covering approximately 2.5 x 2.5 km, approximately 8m from the Cascabel project of about 8 km. (Exploration Update) · Memorandum of Understanding ("MOU") for Hydro-Solar Energy Initiative: SolGold has signed an MOU with Grupo Empresarial Semaica, Enerhydra, and Constructora Nacional S.A. for a sustainable hydro-solar energy initiative at the Cascabel Project. The collaboration aims to develop a Power Project delivering approximately 200 megawatts of renewable energy, aligning with environmental stewardship and economic development goals, with partnerships established to secure financing and ensure adherence to regulatory standards. (MOU Announcement) Read Full ThreadReply 16/5/2024 07:50 havinthelastoast: As at 31 March 2024, SolGold Plc (the “Company” current assets of $3,540,879. Following the successful completion of a $10 million financing subsequent to the balance sheet date, the group has sufficient liquidity for the next few months but less than twelve months to support its operations while it explores substantial and longer-term funding solutions. On 13 May 2024, the Company agreed to a short-term $10 million loan. The loan may be repaid early and other terms and conditions are customary for the nature of the loan. The Directors have reviewed the cash position and cash position forecast of the Group and the Company for the period to 30 September 2025 and consider it appropriate that the Group and the Company financial statements are prepared on the going concern basis. This basis contemplates the continuity of normal business activities and the realisation of assets and discharge of liabilities in the ordinary course of business, for the reasons set out below. The Group has not generated revenues from operations in its history. Like many exploration and development companies, the Group raises finance for its exploration and appraisal activities in discrete tranches. Therefore, the ability of the Group to continue as a going concern depends on its ability to manage costs and secure additional financing within the next twelve months. Management’s cash flow forecasts show that the Group and the Company need to secure additional funding to continue their exploration and development programme and in order to continue to meet their obligations and liabilities as they fall due. A going concern assessment conducted by the Group, reviewing its current and projected financial performance and position, including current assets and liabilities, future commitments, and forecast cash flows, has determined in management’s base case and downside scenarios, there is not sufficient liquidity for at least the next twelve months from the date of approval of these financial statements, without the receipt of additional financing. The Company has a proven ability to execute equity and other financings, most recently demonstrated by the completion of a $10 million borrowing subsequent to 31 March 2024. The Directors have a reasonable expectation that the Group will be able to raise further funds when necessary and, as has been the case previously, the Directors expect that future funding will likely be provided by equity investors, debt, or via other strategic arrangements. If the Company is unable to secure sufficient funding, it may not be able to fully develop its portfolio of exploration projects, and this may have a consequential impact on the carrying value of the related exploration assets and the investment of the parent company in its subsidiaries as well as the going concern status of the Group and the C |
Posted at 16/5/2024 09:03 by havinthelastoast Nice one Georgia!Let's keep this simple - anytime Lowtrawler or loganair post anything, make sure they are knocked so far down the page that no one will see their posts. They are not invested here so their input is not required and is 100% negative and malicious. Time to cut the cancer out. Menu Search Stock Search MonitorMonitor QuoteQuote Level 2Level 2 PortfolioPortfolio ToplistsToplists NewsNews ForumsForums MORE Market DataMarket Data Expand More Icon NewsNews Expand More Icon Trading ToolsTrading Tools Expand More Icon MarketsMarkets Expand More Icon DiscoverDiscover Expand More Icon 🔥 HOT FEATURES Follow Feed Follow Feed Connect with traders and investors in our Follow Feed community. Options Flow Options Flow Explore comprehensive options data and use advanced filters with Options Flow. Monitor Monitor Organize and monitor your stock and asset watchlist with Monitor. Sign In Premium Solgold Share Chat - SOLG Solgold Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker SOLG. The last closing price for Solgold was 8.88p. Over the last year, Solgold shares have traded in a share price range of 5.67p to 19.48p. Solgold currently has 3,001,106,975 shares in issue. The market capitalisation of Solgold is £266.50 million. Solgold has a price to earnings ratio (PE ratio) of -5.29. Current Price 8.88 0.00 0.00% Bid Price Offer Price 8.93 9.00 High Price Low Price Open Price Shares Traded Last Trade Market Cap 0.00 01:00:00 266.5M Solgold Share Discussion Threads Next Page Date Subject 16/5/2024 07:54 havinthelastoast: Highlights of the Period Include: · Completion of the updated Cascabel Pre-Feasibility Study ("PFS"): The updated PFS incorporates a phased approach plan, significantly reducing initial capital costs. Key figures include a pre-tax NPV8% of $5.4bn, 33% IRR, and a post-tax NPV8% of $3.2bn with a 24% IRR. The PFS presents significant copper, gold, and silver production estimates over a 28-year mine life, updated mineral resource and reserve statements for the Alpala Deposit and an updated mineral resource statement for the Tandayama America deposit. (PFS Announcement) · Appointment of Mr. Jian (John) Liu and Mr. Charles Joseland to the Board of Directors: Mr. Lui and Mr. Joseland bring extensive experience and valuable insights that will support SolGold's strategic initiatives and governance. (Directors Announcement) · The Blanca-Nieves Project Exploration Update: Assays from channel-saw samples of gold-bearing epithermal quartz vein outcrops at the Florida target returned results of 6.15m @ 7.46 g/t Au, including 2.2m @ 21.1 g/t Au. Additionally, a significant porphyry target has been identified at Cielito Norte, covering approximately 2.5 x 2.5 km, approximately 8m from the Cascabel project of about 8 km. (Exploration Update) · Memorandum of Understanding ("MOU") for Hydro-Solar Energy Initiative: SolGold has signed an MOU with Grupo Empresarial Semaica, Enerhydra, and Constructora Nacional S.A. for a sustainable hydro-solar energy initiative at the Cascabel Project. The collaboration aims to develop a Power Project delivering approximately 200 megawatts of renewable energy, aligning with environmental stewardship and economic development goals, with partnerships established to secure financing and ensure adherence to regulatory standards. (MOU Announcement) Read Full ThreadReply 16/5/2024 07:50 havinthelastoast: As at 31 March 2024, SolGold Plc (the “Company” current assets of $3,540,879. Following the successful completion of a $10 million financing subsequent to the balance sheet date, the group has sufficient liquidity for the next few months but less than twelve months to support its operations while it explores substantial and longer-term funding solutions. On 13 May 2024, the Company agreed to a short-term $10 million loan. The loan may be repaid early and other terms and conditions are customary for the nature of the loan. The Directors have reviewed the cash position and cash position forecast of the Group and the Company for the period to 30 September 2025 and consider it appropriate that the Group and the Company financial statements are prepared on the going concern basis. This basis contemplates the continuity of normal business activities and the realisation of assets and discharge of liabilities in the ordinary course of business, for the reasons set out below. The Group has not generated revenues from operations in its history. Like many exploration and development companies, the Group raises finance for its exploration and appraisal activities in discrete tranches. Therefore, the ability of the Group to continue as a going concern depends on its ability to manage costs and secure additional financing within the next twelve months. Management’s cash flow forecasts show that the Group and the Company need to secure additional funding to continue their exploration and development programme and in order to continue to meet their obligations and liabilities as they fall due. A going concern assessment conducted by the Group, reviewing its current and projected financial performance and position, including current assets and liabilities, future commitments, and forecast cash flows, has determined in management’s base case and downside scenarios, there is not sufficient liquidity for at least the next twelve months from the date of approval of these financial statements, without the receipt of additional financing. The Company has a proven ability to execute equity and other financings, most recently demonstrated by the completion of a $10 million borrowing subsequent to 31 March 2024. The Directors have a reasonable expectation that the Group will be able to raise further funds when necessary and, as has been the case previously, the Directors expect that future funding will likely be provided by equity investors, debt, or via other strategic arrangements. If the Company is unable to secure sufficient funding, it may not be able to fully develop its portfolio of exploration projects, and this may have a consequential impact on the carrying value of the related exploration assets and the investment of the parent company in its subsidiaries as well as the going concern status of the Group and the C |
Posted at 16/5/2024 08:58 by kinggeorgevii As toast say, worth repeating...Menu Search Stock Search MonitorMonitor QuoteQuote Level 2Level 2 PortfolioPortfolio ToplistsToplists NewsNews ForumsForums MORE Market DataMarket Data Expand More Icon NewsNews Expand More Icon Trading ToolsTrading Tools Expand More Icon MarketsMarkets Expand More Icon DiscoverDiscover Expand More Icon 🔥 HOT FEATURES Follow Feed Follow Feed Connect with traders and investors in our Follow Feed community. Options Flow Options Flow Explore comprehensive options data and use advanced filters with Options Flow. Monitor Monitor Organize and monitor your stock and asset watchlist with Monitor. Sign In Premium Solgold Share Chat - SOLG Solgold Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker SOLG. The last closing price for Solgold was 8.88p. Over the last year, Solgold shares have traded in a share price range of 5.67p to 19.48p. Solgold currently has 3,001,106,975 shares in issue. The market capitalisation of Solgold is £266.50 million. Solgold has a price to earnings ratio (PE ratio) of -5.29. Current Price 8.88 0.00 0.00% Bid Price Offer Price 8.93 9.00 High Price Low Price Open Price Shares Traded Last Trade Market Cap 0.00 01:00:00 266.5M Solgold Share Discussion Threads Next Page Date Subject 16/5/2024 07:54 havinthelastoast: Highlights of the Period Include: · Completion of the updated Cascabel Pre-Feasibility Study ("PFS"): The updated PFS incorporates a phased approach plan, significantly reducing initial capital costs. Key figures include a pre-tax NPV8% of $5.4bn, 33% IRR, and a post-tax NPV8% of $3.2bn with a 24% IRR. The PFS presents significant copper, gold, and silver production estimates over a 28-year mine life, updated mineral resource and reserve statements for the Alpala Deposit and an updated mineral resource statement for the Tandayama America deposit. (PFS Announcement) · Appointment of Mr. Jian (John) Liu and Mr. Charles Joseland to the Board of Directors: Mr. Lui and Mr. Joseland bring extensive experience and valuable insights that will support SolGold's strategic initiatives and governance. (Directors Announcement) · The Blanca-Nieves Project Exploration Update: Assays from channel-saw samples of gold-bearing epithermal quartz vein outcrops at the Florida target returned results of 6.15m @ 7.46 g/t Au, including 2.2m @ 21.1 g/t Au. Additionally, a significant porphyry target has been identified at Cielito Norte, covering approximately 2.5 x 2.5 km, approximately 8m from the Cascabel project of about 8 km. (Exploration Update) · Memorandum of Understanding ("MOU") for Hydro-Solar Energy Initiative: SolGold has signed an MOU with Grupo Empresarial Semaica, Enerhydra, and Constructora Nacional S.A. for a sustainable hydro-solar energy initiative at the Cascabel Project. The collaboration aims to develop a Power Project delivering approximately 200 megawatts of renewable energy, aligning with environmental stewardship and economic development goals, with partnerships established to secure financing and ensure adherence to regulatory standards. (MOU Announcement) Read Full ThreadReply 16/5/2024 07:50 havinthelastoast: As at 31 March 2024, SolGold Plc (the “Company” current assets of $3,540,879. Following the successful completion of a $10 million financing subsequent to the balance sheet date, the group has sufficient liquidity for the next few months but less than twelve months to support its operations while it explores substantial and longer-term funding solutions. On 13 May 2024, the Company agreed to a short-term $10 million loan. The loan may be repaid early and other terms and conditions are customary for the nature of the loan. The Directors have reviewed the cash position and cash position forecast of the Group and the Company for the period to 30 September 2025 and consider it appropriate that the Group and the Company financial statements are prepared on the going concern basis. This basis contemplates the continuity of normal business activities and the realisation of assets and discharge of liabilities in the ordinary course of business, for the reasons set out below. The Group has not generated revenues from operations in its history. Like many exploration and development companies, the Group raises finance for its exploration and appraisal activities in discrete tranches. Therefore, the ability of the Group to continue as a going concern depends on its ability to manage costs and secure additional financing within the next twelve months. Management’s cash flow forecasts show that the Group and the Company need to secure additional funding to continue their exploration and development programme and in order to continue to meet their obligations and liabilities as they fall due. A going concern assessment conducted by the Group, reviewing its current and projected financial performance and position, including current assets and liabilities, future commitments, and forecast cash flows, has determined in management’s base case and downside scenarios, there is not sufficient liquidity for at least the next twelve months from the date of approval of these financial statements, without the receipt of additional financing. The Company has a proven ability to execute equity and other financings, most recently demonstrated by the completion of a $10 million borrowing subsequent to 31 March 2024. The Directors have a reasonable expectation that the Group will be able to raise further funds when necessary and, as has been the case previously, the Directors expect that future funding will likely be provided by equity investors, debt, or via other strategic arrangements. If the Company is unable to secure sufficient funding, it may not be able to fully develop its portfolio of exploration projects, and this may have a consequential impact on the carrying value of the related exploration assets and the investment of the parent company in its subsidiaries as well as the going concern status of the Group and the C |
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