Solgold Share Discussion Threads

[rougepierre] 05/6/2020 10:50

Fair enough low trawler...

Anyhow...I've bought another 28k for me and 20k for the Mrs...taking our total bought sub 21.5 to 70k...

And drawn stumps...

[zcaprd7] 05/6/2020 10:46

To be fair, the share price has been around 20p for the last 9 months or so? Its pretty good to get the placing away in the current environment, albeit a little disappointing at a discount to the (tad frothy) current price.

[lefrene] 05/6/2020 10:28

I think you are correct there Lowtrawler. I guess the underwriters will keep the offer price from going below 21.5p

[lowtrawler] 05/6/2020 10:19

rp, I suspect SOLG had very little choice. They didn't have any funds for drilling the other sites and were using the bridging loan from FNV to keep ticking over. The bridging loan is repaid at the point the full FNV deal goes through. They likely couldn't put together any other funding deal in the timeline for this.

[rougepierre] 05/6/2020 10:18

Maybe NM did the placing so that he could buy shares...be interesting to see if any of his Oz funds or DGR bought shares on his behalf...

Meh!

[rougepierre] 05/6/2020 10:15

Directors have bought 162,790 shares in a fully subscribed placing...

[nas_daq] 05/6/2020 10:10

Perhaps you should open your eyes instead of burying your head in the sand, it was obvious since Mather began ramping it in match they were up a creek without a paddle.....16m won't go far.Election looming.....tick tock tick tock

[nas_daq] 05/6/2020 10:09

So funny you ramp when you are in and CE-ramp,when you are in and de-ramp when you are out, but of course you never post your alleged sales.You are a fab hindsight trader......the sort that never ever have losing trades.How did those buys go on the 27th 150k at 26.80 and 26.70, bit of a loss there as price has only dropped.....

[mknight] 05/6/2020 09:58

As things stand now there is no guarentee that the placing will get away .have to hope an institution or two will take the lot .

[lowtrawler] 05/6/2020 09:52

pob

I believe that BHP will have participated in this issue and so may have requested that restrictions applying to them should apply to other institutions buying under the issue. It does mean that a lot of shares will be available for trading come October.

[pob69] 05/6/2020 09:38

"Subject to certain exceptions, BHP has agreed not to acquire further shares in SolGold for a period of two years without SolGold’s consent" from RNS 16/10/18.

The placing RNS small print confirms anyone buying shares through the placing mechanism "...must not trade the security before 10 October 2020"

Interesting timing...

[lefrene] 05/6/2020 09:19

I would guess that once tribes see how much better off people are in mining areas, then they will want the same. Plainly it's important to look after the locals so that they can see their quality of life improve in tandem with the mine doing well.

As for the drilling they must know where the best prospects are for rapid enhancement of value, and must want to get on with it asap.

[pecker1] 05/6/2020 09:16

pparekh20,

FWIW, my view is that NM, reluctantly, has been almost fighting a rearguard action for months and pushed into fundraisings at low prices because he could not carry out his strategy of drilling up new prospects to boost the share price. Unfortunately Blanca, where there was some drilling, did not yield an immediate bonanza gold grade - from memory NM said it was a typical epithermal project which would take some time to drill up. A big hit on a new prospect, like a world class Apala hole, would have transformed market perception.

[lowtrawler] 05/6/2020 09:11

Only the permit for Rio Amarillo is a priority. They already have drill permits for Blanca, La Hueca and Porvenir as well as Alpala. The funding will only allow them to drill 2 sites / possibly 3 but unlikely. Thus, it currently looks like their 2 main candidates are Porvenir and Rio.

Until the troubles of a few months ago, I hadn't realised the tensions between the local indigenous populations and the central government. It is clear that the local areas have far more influence on mining than we may expect. I believe Central Government would hand out all the permits immediately if it didn't create issues with the local areas. SOLG are working around this by creating local based initiatives, supporting the areas and gaining trust for their mining plans. It is a softly, softly approach. Once they gain support of the local areas, they will obtain the permits.

[pob69] 05/6/2020 09:09

Drill permits have been confirmed for Blanca, La Hueca and Porvenir

[pparekh20] 05/6/2020 08:50

The only reason Solgold didn't mention any of this on the recent webinar, is probably because Citi advised them to.

This has all been done precisely in the way it has played out because they want to boost their takeover defense. One thing is certain, NM is not going to get taken over without a fight!

[pecker1] 05/6/2020 08:45

Lefrene,

NM comment in the RNS: "....Field work at Alpala, Chical and Rio Amarillo will be recommencing immediately."

Field work at Chical and Rio Amarillo but not drilling yet as they do not have the permits. According to the M and A documents they have two permits for prospects (including Porvenir) in Southern Ecquador but they cannot get there until the virus restrictions are lifted.

Think I'm right but must say it is not easy to establish the exact status from what Solg publish. The delay in issuing permits has been very costly to shareholders.

[dozyduck] 05/6/2020 08:24

Much too short a time allowed via Primary bid. No wonder so few applied. On top of which couldn't invest from a SIPP.

[owenga] 05/6/2020 08:21

Now you know why share price fell from 28p over the last week. share price should start rising now.

[owenga] 05/6/2020 08:18

Wow, only sold 4m shares through primary bid. They were hoping for 33m.

[lefrene] 05/6/2020 08:09

Perhaps by October they will have some good drill results to share. They can at least now get on with drilling what they think are the best prospects.

[dmitribollokov] 05/6/2020 07:59

Primary bid! How low rent is that?