Solgold Share Discussion Threads

[lefrene] 15/5/2024 08:38

At least metal prices are on the up this am, or more likely the dollar is slipping.

[hazl] 15/5/2024 07:45

We agree at last.

[lowtrawler] 15/5/2024 07:38

Loganair, there's pessimism and then there's flogging a dead horse. SOLG are not struggling to raise finance. How they fund is the only question and they are choosing to asset back with Cascabel. It could prompt potential buyers to act rather than seeing more of the family silver sold. An interesting few months ahead.

[hazl] 15/5/2024 07:35

Now you can see why Ecuador needs us.
How everything is changing as certain entities want us moving away from oil.
They need another industry.
They have huge amounts of copper and we are the middle men,surely.

No wonder we have such major shareholders when one moves I am guessing the next will.
Unless they collude.




'Oil production declines and experts identified five causes that prevent the sector from recovering.

The first is the lack of investment, especially in Petroecuador and is related to the fall in production. The figures of the Central Bank reflect that reality.

In 2019, equator produced 194 million barrels, in 2002, 175 million and in 2023, 173 million. This year, production remains almost the same.

The second is the fields operating with old technology, from the 1970s70. And the processes to renovate machinery have been discharged.

The third problem is the lack of political stability. From April 2023 until yesterday four managers have paraded: Ramón Correa Vivanco, Reinaldo Armijos, Eduardo Miranda and the last was Marcela Reinoso Esparza, she was four months and in her resignation letter, she argued personal reasons.'

[loganair] 14/5/2024 23:08

£10mln has brought Solgold a maximum of 4 months breathing space. They may have done this deal because this is the most they could get rather then that's all Solgold wanted.

[havinthelasttoast] 14/5/2024 22:52

No you haven’t HAZL.

You are full of nonsense. You bag hold that’s it hehe

[lowtrawler] 14/5/2024 21:34

MK, the new loan facility has only bought them a maximum of 5 months. You wouldn't do a deal like that unless you expected to conclude the other facility well ahead of the 5 months. My guess is no more than 3 months. IMV, they are really hoping for a bid before then.

[hazl] 14/5/2024 16:25

Things can change overnight.
I have had several bought up over the years.

[mknight] 14/5/2024 16:20

Copper 4.97 .

[mknight] 14/5/2024 16:14

Low , its Solgold , will take months .

[lowtrawler] 14/5/2024 15:36

MK, as per posts from RP and others, an agreement may not take months. The loan is a stop-gap while they dot the i's and cross the t's.


I can't help thinking they may have published the threat of doing an offtake or equivalent agreement to try and force a bid. It's unlikely a bidder would want to bid and retain such an agreement. They would need to unwind it and that could be expensive.


I wouldn't take anything at face value. It is all part of the dance required to sell SOLG.

[hazl] 14/5/2024 14:49

It is purely because people see opportunities elsewhere today.


This company is right on track.
Just a few details and signatures needed, in my opinion.

[mknight] 14/5/2024 13:47

And Low you was right about the share price so well done on that one ..again .I guess we can now wait around for a few months before it all starts again .

[mknight] 14/5/2024 13:22

If the offtake agreement values the company at a much high value than the M/C then i can see only good news .

[rougepierre] 14/5/2024 13:20

Copper 3% short of an All Time High...perfect storm gathering...?

[rougepierre] 14/5/2024 13:10

Opened on TMX at 9.57...436k volume in the first 5 minutes compared to typical DAILY volume of 150/500k...

CS and SC buying...?

[rougepierre] 14/5/2024 13:05

Great spot DAFAD!

[lowtrawler] 14/5/2024 12:48

RP, you need to see my post 43301. You have confused the 3 month and 6 month run rates in the trading announcement. Their monthly operating burn rate is at least $1.2m, not $600k. Also, you have failed to realise that their exploration and development asset spend includes ongoing costs which means loganair is quite correct, they are spending around $2m cash per month.

The reason the share price is not responding to today's announcement is fear they will do an offtake arrangement for funding. You appear to believe offtake funding will be positive to the share price Quite the opposite is true, unless they can make an incredibly good deal.

[dafad] 14/5/2024 12:34

Having read the Rns again I think there might be 2 parts to the project financing

Note INITIAL

This proposed Financing ("Financing") is projected to cover a significant portion of the estimated initial capital development costs of the Project

So the first part is pretty nailed on imho

Note MORE COMPREHENSIVE

This funding is intended to give SolGold the flexibility required as we aim to finalize the more comprehensive Financing arrangement.

[rougepierre] 14/5/2024 11:49

Indeed...we may not need to draw a single cent...in which case all it will have cost is the facility fee...

Now here is the intriguing thought...

Just supposing it is the 'successful' offtake funder which has granted the loan facility pending the completion of the offtake agreement...

That would be incredibly bullish because it would mean funding is a done deal...

And as I've said, the terms of the offtake deal will put a precise MINIMUM value on Cascabel...which will of course be well above the current SOLG share price ..

[mknight] 14/5/2024 11:47

It could be anything , They are talking finance but could be they are close to doing a deal with someone who didnt want a Franco like deal on the books so this gives them a bit of time .

[dafad] 14/5/2024 11:31

Just one other point to note is that this is a loan facility-it could be the case that only a fraction of the 10 million is drawn down before more news and that further draw downs might not be needed at all!