Solgold Share Discussion Threads

[mirabeau] 19/11/2020 07:36

Vaccine breakthroughs fuel growing investor appetite for industrial metals

Discovery, deals and outages dominated events on the Australian market this week but the big news which continues to affect everything was off-market: the Covid-19 pandemic and vaccines which increasingly look like next year’s “get out of jail card”.

20th November 2020 - Tim Treadgold


'Another deal said to be on the boil is the keenly awaited battle for control of SolGold, an Australian-based stock with its best assets in Ecuador and listing in London.

BHP and Newcrest are already jockeying for top spot on the SolGold share register but the game picked up pace this week when a Chinese company, Jiangxi Copper, took a small position via a share placement, lifting SoldGold’s share price rise by 15% from 33 pence to 38p.'

[mknight] 19/11/2020 07:32

As Low said yesterday Porvenir2 at 1500m by Monday .NM looks like he is preparing for the AGM in a blaze of news and glory .
Porvenir x 3 update Blanca .PFS . Rio Amarillo start and probably a bit more all in the next 20 trading days . So 2 to 3 Rns,s a week up until the Agm .

[mknight] 18/11/2020 22:29

Arcadian

We are all in the share to make money and even help others if we can ..

If DD feels he needs anything i am sure he is big enough to ask .

[arcadian] 18/11/2020 20:09

MK

Was only teasing. I have always admired your tireless enthusiasm and optimism, wishing only that you would forgive DD for his limitations. Life`s too short.

I confess though that I`m not missing that voice recognition software guy who has I understand migrated to Hotcopper..

[pecker1] 18/11/2020 19:31

tibzol1,

I have no problem with the way NM is funding Alpala. The issue is how Solg is going to fund Porvenir, Rio, et al going forward (apologies for that ghastly expression!)

Funding mine development is very different from funding blue sky exploration which carries far greater risk and appeals to a different kind of investor.

Over the years I've seen far too many explorers getting bought out at silly prices because their share price lagged what one might call their intrinsic value - an elusive and variable amount! I know because I've held the shares of the buyer company.

NM himself rightly bemoans the fact that Solg is lowly priced by the "market". And lower than intrinsic value invites takeovers at daft prices.

That's why as a shareholder I want to see the share price as high as it can be as much of the time as possible. Everyone can argue over what "can be" is.

The IPO or two that I favour would spread the funding load, hence risk, and could possibly advance NM quicker in his ambition to do another Fortescue which I'm very happy with. Because this strategy would lead to quicker development it would also probably suit a major stakeholder, namely the government and people of Ecuador who need money and jobs as soon as possible. No worries about running out of resources like North sea oil - looks like Ecuador's mineral wealth will last for at least 100 years plus by which time who knows what kind of world people will be living in!

[tibszol1] 18/11/2020 19:23

Arcadian
Yes it may well be the case that NM has a history of accepting offers, and he has said on record that if a ridiculously high offer is made, then he and the BOD would find it very difficult to defend, by that I take it to mean that the BOD would be forced to recommend it, however that doesn`t alter the fact that it is the shareholders who will decide the fate of Solgold. What that ridiculously high offer figure might be or need to be, is anyone's guess, but from my point of view as a shareholder, it would need to be, considering Solgold`s fantastic potential, many times multiple of Solgold`s current share price.

[mknight] 18/11/2020 19:19

Arcadian

Of course you are right if Porvenir does not come up trumps then all bets are off.

However at the moment things are looking very good . RIO could be anything as we have not started drilling yet .

Ramper ? I think you must have confused me with someone else .

Just to add i have been right all the way down from 16p then 10p up to 28p then down to 19.5p to 43.9p wrong down to 31p and now right up to 38.55p i have said anything up to 55p is a buy .

However when i got it wrong i did suggest some profits should be taken ..

I also said NM should raise monies at 43p which he did but at 32p . And last but not least i said BHP would buy Alpala which has not been confirmed yet ..

[arcadian] 18/11/2020 19:04

Until we get that and confirmation of good assays for POR and perhaps some good news re RIO , all today`s armchair strategists have added very little that`s new except perhaps boosting the general confidence of private investors old and new and this is having a gentle upward effect on the share price for which MK the archetypal ramper/bull/optimist and other large holders including myself are grateful. Even the Scottish discounter of last resort must be pleased.

BUT let`s not delude ourselves . We must be patient and await more factual news. Journal items are written for money and that Mining Journal one only said what we all know anyway.

If we get good results NM will have no money problems and when I last checked he is still the driving force so that whatever our view he the MD will chart the course unless as MK said above he gets an offer he can`t refuse. He has a past of accepting offers.

[tibszol1] 18/11/2020 18:36

The selling of valuable assets argument is weak, as is the shareholder dilution funding argument. Valuestone`s issue of shares represents 0.6% of shares in issue. Hardly catastrophic to existing shareholders. NM repeatedly points out that with current low rates of interest, rapid loan payback, three years for Alpala he opines, his dislike of existing shareholder dilution, to borrow the required funds is blatantly obvious. NM also maintains that the $2.8B required for Alpala alone will not be a problem as banks and financiers are gagging to get a piece of the action, and this is where Citi will come in, let them earn their corn. When PFS is published, my bet is early Q1 OF 2021, together with conditional funding packages, we will very quickly see who is right or wrong.

[swanvesta] 18/11/2020 18:19

They could keep 15% of ENSA and sell the remaining 70% for $400m plus a free carry to production. They could sweeten it by staging the payments over a couple of years and even take a bit of BHP (or whoever's) stock.

[mknight] 18/11/2020 18:06

The solution is really very simple . It costs around 200 million to prove up a project so Porviner and Rio for example .

Spend 400 million .

Sell Alpala aprox 1.2 billion to 2 billion .

Leaves a nice deposit for funding Rio and Porvenir .IF necessary sell Rio or Porvenir and you have the whole project funded .

As there are 72 sites i am sure there will be more Tier 1,s along the way .

[swanvesta] 18/11/2020 17:54

tibszol1, that's pretty patronising. The point is that Porvenir etc need cash and a lot of it - multiple hundreds of millions. Taking Alpala through development will do the opposite (of releasing cash), as well as diverting management focus/energy.

[michaelfenton] 18/11/2020 17:28

well said tibszol1.

[tibszol1] 18/11/2020 17:19

DD
Can I assume that you fall into what I have described as " make a fast buck johnnie" camp. You assume that shareholders are only interested in making a return on their investment as quickly as possible and that somehow this is the duty of BOD to deliver. Is it not more important for any company to align the company`s interest with that of their shareholders, and that is not what the share price is today tomorrow or next week or month. As with any predator, they look to take down their prey with minimum effort, minimum risk to themselves and maximum benefit to themselves and no one else. That is what any potential takeover for Solgold would involve, take down their target for as little as possible, shareholders wind up with, in this particular case, the thin end of the wedge.
I would prefer to follow Warren Buffet`s modus operandi, when he buys into something he intends to hold for many many years, at least he has a proven successful track record, you, I suspect do not. Get behind Solgold and the BOD and lets see if we can do something amazing. Fortescue managed it, why not Solgold.

[mknight] 18/11/2020 17:09

It looks like they are begining to store up some news .

1. Porvenir asseys hole 1

2. Porvenir drilling hole 2

3. Porvenir hole 3 started .

Would be nice to get something from Blanca as well .

[lowtrawler] 18/11/2020 16:48

Zoros, I don't expect them to combine the assay results in a single announcement. Assuming it's the same labs they are using, hole 1 should be available before hole 2.Agree that messaging on hole 2 expectations needs to be clear when they make the depth announcement.

[mknight] 18/11/2020 16:44

100k missed out in the auction at 38.50

[rougepierre] 18/11/2020 16:38

UT 217,560 at 38.55

[zoros1] 18/11/2020 16:30

Lowtrader.
Agree depth.

I would imagine assays for PDH-20-001 and update for PDH-20-002 (at depth >650m) would come together, no?
Bear in mind all, Solg have warned us that @ 650 ish metres and deeper, the core bends inwards about 89 - 90 degrees, so the bore hole is sending back mineralisation no greater than 55 to 60% of that found in the top half of PDH-20-002. NM has said he will need another drill hole strategically placed to capture this anomally.
Z

[rougepierre] 18/11/2020 16:28

Another sound day...

MMs closing their book early, but I can still sell 100,000 at 38.3 but can only buy 2,000 shares...yes 2,000

Looks like they want to avoid getting caught like yesterday when they had to buy in over 200,000 shares at 39p in the closing auction...

39p paid for 100,000 at 15.53...

[mam fach] 18/11/2020 16:25

Think NM's style is 'confrontational'.
Got no problems with that.That's who he is.
Sure he's got a few fans and friends in the industry.
Not long now solgers,

[lowtrawler] 18/11/2020 16:25

Zoros, I reckon Porvenir should reach 1500m early next week. Should get an announcement then. The remaining assay results for hole 1 might be published this week.