Solgold Share Discussion Threads

[phattrader1] 05/6/2020 07:58

They were never gonna let anyone have a short term arbitrage opportunity - October looks tasty especially as PFS delivery is 30/09/2020 or before.

[pob69] 05/6/2020 07:54

Interesting coverage by the ever valuable AFR (behind paywall) Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador.

...The rift between the management of SolGold and its two biggest shareholders, BHP and Newcrest, has widened after the copper junior's latest fundraising attempt

Again just Newcrest are quoted ''We are considering our position with respect to our representation on the Solgold board,”

One thing I hadn't pickeed up from the small print was that "participants cannot trade the new shares prior to October 10." and of course BHP will be liberated from a pre-existing standstill agreement that prevents it from buying more SolGold shares within a week of that October date.

[nas_daq] 05/6/2020 07:47

A placing was obvious months ago, most of the rampers on here have got their heads buried so deep in the sand they believe all their ramping BS about bids and takeovers.Meanwhile next years election gets ever closer.......

[dozyduck] 05/6/2020 05:30

Its quite probable FNV (and other promises) were contingent on this equity raise. It will be the same for any other debt-like (aka stream) funding in future - especially if copper stays low and until any new exploration success. And of course NM (and his Ingo sidekick) wouldn't have been able to say so. (also explains why they couldn't buy shares)

[phattrader1] 05/6/2020 02:45

One thing that I picked up in is “ancillary costs For raising the remainder of the $2.85bn”. Maybe a commitment fee or arrangement fee of 0.5% on $2.7bn is needed for a senior secured bond =$13.5m, leaving $13.5m for exploration and the Franco funds for Alpala.

Whatever it is I hope they deliver going forwards and this placing makes sense in a few weeks.

[lowtrawler] 05/6/2020 00:31

So much for mezzanine financing the other prospects!
So much for not doing an equity raise because the price is too low!

At least they have bitten the bullet and will have funding available to drill the other sites. They have also kept the capital raise modest. Through taking the uncertainty away, it's not a bad solution. They were always going to have to raise funds for the other sites before repaying the FNV bridging loan and this is certainly quicker than any other option. Perhaps it means that the FNV deal will close sooner rather than later.

The amounts they're budgeting for 2020 and 2021 to explore the other sites won't take them very far. Perhaps 2 or maybe 3 sites if they're frugal. They may hope to get a new Cascabel sized find announced before doing the next round of financing and expanding further.

[pparekh20] 04/6/2020 23:29

worth a read!

[mam fach] 04/6/2020 23:26

Placing price only 2.5p below closing price.
Perhaps price might fall slightly on opening or investors might decide to top up.
Only need one positive RNS to lift it significantly.
First time i've been disappointed by NM.

[pob69] 04/6/2020 22:41

David Neuhauser, Livermore Partners, Presents Stock Picks at Contrarian Investor Virtual Conference (Livermore Partners is an alternative asset investment manager servicing high-net worth individuals and institutional investors.) 5:30mins omwards (plus questions mixed in with Vista Oil) Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador.

[fsawatcher] 04/6/2020 21:58

i hope it fall to 21.5p but i fink too many want in so fat chance

fink it will open 21.75p/22.5p.

Might be some loose chnage the broker need to get off so a drop to 22p on offer be best yous get

but unless you mix peanut butter with marmite you aint gonna utter a stutter wit da butter

[phattrader1] 04/6/2020 21:56

Depending on Director buys and successful book, I suspect 21.5p as support until good news follows whenever that may be. Will open at 23p and fall to 22p by close.

[mam fach] 04/6/2020 21:31

Anyone think price will fall to placing price tomorrow ?
Must say this has taken me by surprise.

[phattrader1] 04/6/2020 21:09

Toronto-listed gold miner Guyana Goldfields has received a binding proposal from a foreign-based multinational mining company for the acquisition that is superior to that of fellow-listed Silvercorp Metals, valuing it at C$323-million.


The GOLD WARS HAVE BEGUN. THIS IS ONLY THE START. OUR TIME IS SOON.

[dozyduck] 04/6/2020 20:18

Zo ! Vot did Vee tell you ! Not the last raise, but its a start !

[pob69] 04/6/2020 19:54

Thanks - I am still around and doing my DD.

When there is no news, no need to clutter up this BB LOL (though if you will excuse the stock promotion I have my eyes on ADT1, Adriatic Metals - a polymetalic (exceptionally high grades of base and precious metals) first mover in the yellow flag region of the Balkans with a CEO has won the Mines and Money CEO of the year title - criteria which sounds somewhat familiar to long term followers of Solgold)!

[richardly] 04/6/2020 19:47

So will this go the same way as President Energy Plc (PPC) who yesterday had a PrimaryBid placing at a 21.3% discount, at and to 1.85, which is exactly where the shares ended up the next day (today) i.e. 1.85 to Buy; and the £20 PrimaryBid admin charge was likely to have been substantially greater than purchasing in the market today as well; so pointless taking up the offer or worse?

[arcadian] 04/6/2020 19:37

POB

Good to see you are still awake and doing your BIT. Do get some sleep at some point. We need you.

[pparekh20] 04/6/2020 19:19

One more statement:

The Company’s systematic exploration programme has already
identified extensive mineralisation at 13 priority projects, three of which have already received
permits to drill, expected to commence in the coming weeks.

[pparekh20] 04/6/2020 19:19

Other key statements:

The Company’s systematic exploration programme has already
identified extensive mineralisation at 13 priority projects, three of which have already received
permits to drill, expected to commence in the coming weeks.

SolGold looks forward to delivery of the PFS for Alpala by 30 September 2020, recommencement of
regional exploration programmes at Rio Amarillo and Chical, both within 40km of Alpala, and the
promising Porvenir, Celen, La Hueca and Sharug (Santa Martha porphyry) projects in southern Ecuador,
following the lifting of COVID-19 restrictions, which are expected progressively over the next quarter.
Field work at Alpala, Chical and Rio Amarillo will be recommencing immediately

The Placing creates the opportunity to broaden the Company’s shareholder base through the
introduction of new investors. In conjunction with the FNV Transaction (assuming that it is upscaled to
US$150 million), the Fundraising is expected to fund the Company in excess of 12 months to delivery of
a PFS on the Apala Project in Q3 2020 and a DFS in Q2 2021, subject to COVID-19 restrictions in-country.

Beyond the Alpala Project, the Company has also
allocated approximately US$13.1m towards the advancement of its substantial exploration project
pipeline in 2020, focusing on 13 priority targets across its 75 concessions covering ~3,200km2
in Ecuador.
These expenses include the costs of 14,000 meters of drilling beyond Cascabel

[pob69] 04/6/2020 19:18

A cautionary tale in relation to Chinese investment in mining in Ecuador. Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador.

[pparekh20] 04/6/2020 19:18

I do find it annoying that nothing about this placing was mentioned at the most recent webinar. However, I am going through the RNS and the following statement...

In conjunction with the FNV Transaction.......
Furthermore, proceeds of the Placing will fund exploration of the Company’s extensive land package in Ecuador, prospective for further discoveries.

... is encouraging that they are looking to start up the drilling for the other properties. Looks like they know they have to make some discoveries before October and in line with the PFS.

[arcadian] 04/6/2020 19:11

Tried to take up the offer but registering at Primary Bid didn`t seem to work for me so I`ll just wait until the morning. Maybe we are not meant to as it`s only 7mill

[phattrader1] 04/6/2020 19:03

I 100% expect some big director purchases tomorrow.

[mknight] 04/6/2020 18:54

They want to drill Rio Amarillo which they dont have a permit for . Lets hope there is news confirming the permit tomorrow or Monday which will help .

I wont post again until i hold .

Hope i am wrong and the share price goes up for all that hold .

[phattrader1] 04/6/2020 18:35

Read the RNS - says they have permits at 3 locations ...

Beyond its flagship Alpala Project on the Cascabel concession, the Company is also the largest tenement holder in Ecuador where it owns 100% of a further 75 exploration concessions covering a total of 3,200km2. The Company’s systematic exploration programme has already identified extensive mineralisation at 13 priority projects, three of which have already received permits to drill, expected to commence in the coming weeks.