Solgold Share Discussion Threads

[mknight] 18/2/2020 07:26

Lowtrawler.

Yes anything under 20p may be looking pretty cheap come May .

[lowtrawler] 17/2/2020 17:28

A few things are becoming very clear:1. SOLG are not a one trick pony, after cascabel they will have a lot of viable mines.2. They are close to a deal on funding.3. A lot of the uncertainty is going to be swept away over the next few months.It's difficult to see why they are stuck under 20p, surely it won't last for long?

[rougepierre] 17/2/2020 17:17

"The amount receivable from CESA at 31 December 2019 was US$28,682,502 (2018: US$17,860,536). As there is uncertainty as to whether ENSA will be able to distribute earnings or dividends, a provision for impairment has been recognised on the entire amount receivable from CESA."

"CGP and CESA elected to obtain the benefit of the Financing Option whereby SolGold will solely fund all operations and activities of ENSA until the completion of a Feasibility Study, including CESA's contribution as the registered and beneficial holder of an aggregate equity position in ENSA of 15%. After completion and delivery of the Feasibility Study, SolGold and CESA shall jointly fund the operations and activities of ENSA based on their respective equity positions in ENSA's on a proportionate basis. Furthermore, the Term Sheet allows for SolGold to be fully repaid for the financing provided, including interest at LIBOR plus 2% for the expenditures incurred by SolGold from the time CGP and CESA elected the Financing Option. SolGold is to be repaid out of 90% of CESA's distribution of earnings or dividends from ENSA or the Cascabel Tenement to which CESA would otherwise be entitled. If CESA does not elect to contribute and its equity stake in ENSA is diluted to below 10%, its equity stake in ENSA will be converted to a 0.5% interest in the Net Smelter Return and SolGold may acquire this interest for the US$3.5 million at any time."

Meanwhile...68 million options will expire by August 2020 unless exercised previously...44,750,000 are owned by the Directors...

So...either these will lapse or...post the PFS and Financing the shares will be worth more than 60p, which gives NM (26 million) a pretty powerful incentive to pull a rabbit out of the hat...

GLA and AIMHO...

[loganair] 17/2/2020 15:07

Newcrest urges SolGold to avoid 'short term' funding fix:

The explorer pursued by BHP and Newcrest Mining has been urged to avoid ''short-term fixes'' and raise funds in a way that prioritises existing shareholders and the long-term interests of its promising copper and gold project.

The comments from Newcrest chief executive Sandeep Biswas come as Brisbane-based explorer SolGold works on a major fundraising initiative that is expected to be finalised shortly.

The explorer pursued by BHP and Newcrest Mining has been urged to avoid ''short-term fixes'' and raise funds in a way that prioritises existing shareholders and the long-term interests of its promising copper and gold project.

The comments from Newcrest chief executive Sandeep Biswas come as Brisbane-based explorer SolGold works on a major fundraising initiative that is expected to be finalised shortly.

SolGold has been largely funded by share placements to BHP and Newcrest over the past four years, and those placements have resulted in both big miners owning more than 14 per cent of the Ecuador-focused explorer.

But SolGold managing director Nick Mather, who owns more than 4 per cent of the company directly and has close links to at least a further 10 per cent, is understood to be keen to source the next funds injection from beyond those two mining giants.

Mr Mather declined to comment this week, but some shareholders believe he is keen to bring new investors and lenders into the fold to ensure Newcrest and BHP's collective interests remain below the 50 per cent threshold that would allow them to change control of SolGold after October 2020 if they wanted.

Asked whether he was happy to see SolGold fund development of its prized Cascabel project through high-cost finance like a metal streaming deal (where a portion of future copper production is sold for an immediate cash injection), Mr Biswas said he wanted to see long-term solutions.

''The thing that we as a major shareholder are very keen on is whatever funding is put in place is in the interests of shareholders that are currently part of the business, and that those funding arrangements are sound arrangements that look to the long-term future of SolGold as opposed to any short-term fixes or distractions," he said.

''It is an investment we are happy to be part of, it is a good long-term prospect, it has quite a way to go yet before it realises what may be its future potential. We are supportive and intend to remain that way.

''The more focus on the exploration, the drill out and the economic studies to prove the viability of Cascabel in particular, I think that is where the focus should be."

[pob69] 17/2/2020 14:41

Really interesting to see another Peter Kerr AFR article (behind paywall) - the 3rd in less than a week - following nothing since October referencing Solgold $SOLG $SOLG.L $CGP #cascabel #ecuador

"...BHP trims thermal coal exposure"

...Essentially SolGold confirmed they were were in advanced negotiations on a number of traditional and alternative financing options and continues to engage proactively with its investor base and the article suggesting that the company "could be an acquisition for BHP, "
.

[pob69] 14/2/2020 14:32

Red Cloud with update on yesterday's news Solgold $SOLG $SOLG.L $CGP #cascabel #ecuador.

Rio Amarillo Project Appears Similar to Early Days at Alpala

[markth126] 14/2/2020 14:26

And we are blue !

[arcadian] 14/2/2020 14:21

It is heartening that the company`s high wire act re financing has not produced a rout but steady appreciative support which tends to indicate an underlying belief that NM will sort it.

[pob69] 14/2/2020 12:39

Worth remembering PDAC Ecuador day 1/3 Solgold $SOLG $SOLG.L $CGP #cascabel #ecuador

The agenda (which now no longer includes Fortescue) does have 15 minutes for a government representative. Hoping for some positive news...

[pob69] 14/2/2020 12:28

SP Angel (Financial Advisor and broker to Solgold) $SOLG $SOLG.L $CGP #cascabel #ecuador comments on news (with further quotes from Sandeep Biswas, Newcrest).

Conclusion: Financial and operations update highlights the development progress at the Alpala project with the team assembling data for the mineral resource update and a PFS while continuing to expand its portfolio of prospective exploration projects in Ecuador......

..... Solgold are clearly keen to maximise the value and opportunity of their extensive exploration portfolio. It is possible that this could lead to further corporate action in relation to Solgold, Newcrest and BHP.

[silversoldier] 14/2/2020 10:01

Blue finish? lol

[bluepeter1] 14/2/2020 08:28

Can’t help but think of this tweet right now rgding solgold

[lowtrawler] 14/2/2020 08:28

IMHO, it's another very positive piece of news. It reminds everyone about the depth of the resource pipeline they have. Unfortunately, it also remind everyone that they still have to sort out funding. Neither should be a surprise to investors and the little additional information contained in the announcement is positive.I think the downward price movement is a bit silly but effectively we are just flat on the week. Once the dust settles, I think we will creep above 20p.

[paleje] 14/2/2020 08:16

Irrational selling.

The Group has a proven ability to raise the necessary funding or settle debts via the issuance of shares. The Group has in the last reporting period raised US$22,044,235 and is in late stage negotiations on a number of various other strategic financing options.

[mknight] 14/2/2020 08:02

They have 27 million at the end of December . Of course they need to raise funds if they are going to be able to explore 13 sites and finish ALPALA.

Cannot see what the fuss is all about . Looks like they have taken steps to show down the cash spend .

[plentymorefish] 14/2/2020 08:01

That'll be why it's in auction.....lol

[fsawatcher] 14/2/2020 08:00

Anglo, glencore rio barrack bhp nc all after a major chunk of it

[fsawatcher] 14/2/2020 07:58

market will like this report

confirms they are in late stage of doing a deal and directors confident

loads of bees buzzin around this pot for sure

this goin to be big

[plentymorefish] 14/2/2020 07:58

On your marks.....get set....sell.....

[markth126] 14/2/2020 07:23

Perhaps over negative there and they are always in this position. It also states in late stage negotiations for funding! Lth just got to learn to relax till the end game

[markth126] 14/2/2020 07:13

nm better be working on a plan to sell it all then

[markth126] 14/2/2020 07:11

Good god, this isn't gonna be pretty I reckon. Not enough working capital to continue as going concern and need to raise more. Wow.

[rougepierre] 13/2/2020 18:38

The January presentation shows a "Conditional Finance Package" to be completed by end Q2

PFS due at the same time...

Alpala Resource update imminent...

I seem to remember that when Nick raised the $22m it was sufficient to "see us through"...

Peel Hunt reiterated target on 12 February 70p...

Why would BHP agree at the end of November to 19.25m options with a strike of 37p if they thought the price would tank...?

AIMHO as usual...love the price action today...

[silversoldier] 13/2/2020 15:10

I would like to see a weekly close back in the 20's to confirm a move back up

[mknight] 13/2/2020 14:46

Maybe something good on its way .. can we jump the 20,s and get back to the 30,s and 40,s.