Share Name Share Symbol Market Type Share ISIN Share Description
Solgold Plc LSE:SOLG London Ordinary Share GB00B0WD0R35 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.85 -2.76% 29.95 1,434,587 16:35:19
Bid Price Offer Price High Price Low Price Open Price
29.95 30.15 31.30 29.95 30.15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -7.25 -0.39 687
Last Trade Time Trade Type Trade Size Trade Price Currency
18:00:10 O 66,696 30.433 GBX

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Solgold Daily Update: Solgold Plc is listed in the Mining sector of the London Stock Exchange with ticker SOLG. The last closing price for Solgold was 30.80p.
Solgold Plc has a 4 week average price of 28.60p and a 12 week average price of 24.85p.
The 1 year high share price is 40.75p while the 1 year low share price is currently 21p.
There are currently 2,293,816,432 shares in issue and the average daily traded volume is 4,984,000 shares. The market capitalisation of Solgold Plc is £686,998,021.38.
lowtrawler: RP, I am not an investor here and will not be investing here. The fact is BHP or anyone else coming in as a bidder will need to invest £2.5bn to get the mine running and at least £0.6bn to buy the shares at current share price i.e. £3.1bn total. That gets them 85% of Cascabel less the 1% NSR to FNV = 84% ownership. In return, they get 84% f the $742m annual cashflows = £500m per year following first production. So, even if they don't pay a premium to buy-out current SOLG shareholders, they are still having to pay over 6x earnings for ownership. In Australia or North America, that would be a reasonable price. In Ecuador, it is not. It means that Cascabel alone cannot justify the current SOLG share price. Once you take into account Porvenir and the possibility of additional regional finds, the current price could be considered fair but it is unlikely to obtain much premium from a bidder. I have said it before but the PFS was nothing short of disastrous.
lowtrawler: RP I know I said I wasn’t going to post again but your whole explanation is so full of holes it just can’t be left alone. Comparing future earnings from Cascabel to the current share price and market capitalisation is meaningless. You need to estimate how current ownership will be diluted in order to fund the mine. Let’s take the current market capitalisation – around £600m. In order to build Cascabel, and keep the lights on in the meantime, a further £2.5bn is required. It won’t be, but, if it were all raised by equity at a 20% discount, current shareholders will end up with only around 16% ownership of SOLG. However, they also need to raise funds for regional exploration and development which will mean 16% is probably an over-estimate. It means that the average annual cashflows of $742m will accrue 15% to CGP and only 16% of the remainder to current shareholders i.e. $742m x 0.85 x 0.16 converted to GBP = £80m. Comparing that to the current market capitalisation of £600m, it will take 7.5 years after first gold pour to generate cash equal to the current share price. You seem intent to concentrate on EBITDA. This is something company officers love to do when they have capital intensive projects. It basically says ignore the capital costs, look at the earnings. Worse, it says forget we have to pay taxes, interest or aim to renew our assets. The only figures that matter to investors are attributable earnings – after tax, interest, depreciation and minority interests, and; attributable cashflow. Providing a definition of P/E as being share price divided by EBITDA is completely misleading. P/E is price of share / attributable earnings per share. After dilution and paying capital providers, attributable earnings per share are likely to be less than 5p and possibly less than 3p.
rougepierre: So let me pull this all together... The important point will be the P/NAV once all research analysts have updated their models and price forecasts. I'm confident that SOLG will ramp up its analyst coverage now that the PFS is definitive and we may get revised estimates ranging from 55p to £1.35p or more...who knows... Having looked again at the EBITDA in the PFS detailed figures, in the first 5+ years (after ramp-up) EBITDA can be expected to come in at $2bn, as a minimum. Now remember that Atalaya Mining, with one small mine and a mine life of 13 years is on a P/E of 4.65; BHP 17 and ANTO 16. So I think it is entirely reasonable to use a multiple of 5 times for SOLG. That would mean an EV (Enterprise Value) of $10bn, equivalent to a Share Price of 347 pence. Yes thats right, you read that correctly... 347 PENCE...and thats based on Cascabel alone... Now do you see why this share price is bonkers... This gives an astonishing indication of potential upside over time (5 years plus). Again for comparison, ATYM was 80p just over 5 years ago, about a year before production. In February it hit 446p...based on one...small...mine... So you can see why... Quady wants Alpala to go to production The current valuation of Solgold is insanely low The revised PFS is so attractive...based on an ASSUMED copper price of only $3.60...some analysts are forecasting $15,000 a tonne or almost double that price well within the time frame above Any major with depleting copper assets and/or gold assets would be playing a dangerous game by waiting too much longer before making a bid... And if you want an idea how exciting this could get, read how Robert Friedland made himself a billionaire out of Voiseys Bay once the insane bid battle occurred... GLA and happy as always to explain anything and have the figures challenged, but... I have already had the above confirmed by my contact...
jlondon: Solgold Interim 6 months results at 31 Dec 2021."-RNS, 15 Feb 2022 "Shows cash or cash equivalents of £58.405 Million." What cash call are you talking about, jammytass #32989 at "20p cash call."? Share price currently 27.73p. Even on the other forum ie London South East, NO ONE is saying cash call of 20p? -- There are many stocks that have not taken their deposits/discoveries to production yet but that does not mean that their value is not there relative to the value of the project. Hence, analysts put out PRE-PRODUCTION, and production share price values. The analysts [3] per FT have put the lowest forecast at 44.4p, then 60p area and then £1. This was dated 22 Apr 2022 POST PFS Alpala. Current price 27.73p. Cash call per Jammytass 20p? Has anyone seen such a wide discount POST PFS -DERISKED 1 event. ---- RIO AMARILLO Per this interim report: 1st hole 72m @ 2.16 g/t au gold including 24m @5.77m -no significant copper/gold below 830m. 2nd hole assays pending. 3rd hole -stopped at 534.5m. ------------ On the London South East Solg currently, the talk is about a BID potentially as per Mail on Sunday [this Sun], No talk about a cash call?
lowtrawler: MK, I have made my position clear. I indicated prior to the PFS that anything below a 25% IRR using spot metal prices would be disastrous, the result of 23.4% falls into that category. The only thing currently supporting the SOLG share price is bid rumours. I diligently reviewed the announcement and presentation. At current metal prices, I see no prospect for Cascabel to be built. The announcement effectively confirms the criticisms previously levelled by Crux towards the PEA and indicates to me that SOLG have known for at least 2 years Cascabel was unlikely to be viable. In fact, they have been fortunate with improved metal prices over that period to get a publishable PFS. In the absence of a bid, I expect the share price will fall well below 20p. I hope I am wrong but it's the way I see it. I do not intend to post further on the SOLG thread as having expressed my assessment, it is for those who are invested to make up their own minds.
rougepierre: Unlike glasswala I'm not smarting at losses because this is a long term investment (until it gets taken out) Its pathetic when people who drop a load cant take responsibility for their own decisions and instead come on a bulletin board to tradh the company, talkvdown the share price and slam the BoD... Its what's wrong with our country...take al, the credit when you make the right decision and blame anyone else when things go wrong... I've written a book on the psychology of trading and investing and it's when you do constant research, review your strategy regularly, stick to it and learn from your mistakes that you start to make money...including some times doing the smart thing and dump shares when it's not sensible to hold on and be prepared to buy them back at a lower level... However with SOLG I have increased my holding while the share price has fallen with over 250k shares bought at a 32p average (that's 25% lower than only 5 trading days sgo)...and I can afford to hold on for the big payday... And if theres a share issue at lower than the current price I have the firepower to take that ul too... The presentation and IG interview told me all I need to know...
tibszol1: mk. The reason I am holding is that I follow the Warren Buffet playbook, his philosophy is that when he buys a share, he only does so if he intends never to sell it, i.e. long term view, daily or weekly price movements in the share price is merely background noise. Long term, I have confidence in the Solgold narrative, I believe in it`s fantastic potential, over what period, no idea!, several years for sure. If a takeover bid comes in, probably at a fraction of its true value, so be it, I have no control over that issue other than to vote my shares as I see fit. My preference would be for Solgold to remain independent and to transition from explorer into miner and producer, therein lies the greatest return for investors. For those who say the whole Ecuador project is too big and complex for Solgold to manage, I say, absolute rubbish!!! What does any company do when it lacks a certain skill set for a project? Yes indeed, they buy in whatever expertise it requires. Solgold can poach anyone they need from Newcrest/BHP or anyone else as required, offer an attractive package and they will get what they need. The PFS will give a good indication as to whether financing this whole venture is feasible or not.
lowtrawler: MK, you have been watching intra-day price movements of SOLG for a looooong time. It's fairly obvious that SOLG does not lend itself to day-trading and there is very limited information to obtain from such observations unless you are a skilled day-trader. The recent price strength is hopefully an indication of information leaking but it may also be a response to the recently published bid speculation. We have previously seen the SOLG price spike and overshoot on the basis of rumours. Unless you actually have information shedding light on the price strength, any trading would be speculative. As you say "real" information will spike the price far more quickly and aggressively than we have seen to date. I expect yourself and other PI's already have a position with which you are comfortable and so it is just a waiting game. I'm keeping my fingers crossed that the PFS rewards you and the other PI's for your patience.
lowtrawler: MK, I suppose my key message to everyone is don't believe anything until you see the PFS. Then, judge for yourself. Key is IRR and sensitivities: Once you see the PFS, what is the headline IRR and how does it move with metal prices? Anything less than 25% as a headline puts a question mark on whether Cascabel is viable. 25% - 30% is roughly what is currently reflected in the SOLG share price Anything over 30% starts to build the price.
pecker1: FWIW, perhaps the focus should be on the positive benefits that come from not including Tandy in the PFS at this stage: 1.Earlier delivery of the PFS 2.Positive impact on Solg share price should allow subsequent fundraising at a higher, less dilutive price 3.More time for exploring/drilling up Tandy to increase its resources 4.The economics set out in the PFS will be improved in the DFS by incorporating the earlier cash flow from Tandy open pit mining. Looks like the Covid pandemic has peaked in Ecuador so April could see a cautious resumption of exploration/drilling at Tandy
Solgold share price data is direct from the London Stock Exchange
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