Solgold Share Discussion Threads

[lowtrawler] 27/6/2020 10:16

If my assessment of the Newcrest situation has any merit (and it may not), it is either very positive to the share price (a bid is coming) or very negative (Newcrest are going to cause SOLG problems).The market has barely responded, the small reduction in price may not even be related. There has been no flood of buys or sells as people reflected their views on the position. Essentially, the market has ignored it as irrelevant.This either implies my assessment is wrong or nobody expects immediate action to arise from the Newcrest position. As it has been deemed irrelevant, I will shut up and wait for some relevent news to come out.

[paleales] 27/6/2020 05:34

RBC Capital Markets bigger, longer bit of research pushing the gold miners

[mam fach] 26/6/2020 22:20

I agree. For goodness sake he won't be getting a million for a speech.
But let's give him credit, company has made an amazing discovery.
Can't fault his leadership .Holding on to my shares.
All IMHO.

[arcadian] 26/6/2020 18:47

$17.80 and $2.66.9

I think I`ll have to adjust my NPV --again.

Don`t know how I`ll get on when they start all that drilling.

PS

Reading the IC vague valuation "somewhere above 40p " I am even more supportive of NM who is not going to play this cheap game. Having found world class assets with much more to come he is set upon getting/proving the value of his finds, unless that is someone comes up with a really decent offer. Some think his presentations a bit dour and repetitive but the man has grit and determination.

I`m with him and one day I hope to shake his hand .

[lowtrawler] 26/6/2020 15:37

CGP know that in any takeover activity, bidders will want their support and likely give them a better deal than SOLG have put on the table. There is no chance that CGP will take any deal offered to them by SOLG. They're going to gamble on a bid.

[alwaysevolving] 26/6/2020 14:09

FSAWatcher. LOL

[lefrene] 26/6/2020 13:50

LT, I suppose if taking out CGP was part of somebody's plan, then a lower Solg price would reduce the value of CGP? There's about 20 weeks before BHP comes out of purdah, so perhaps we have to wait until then to see a show of cards.

[fsawatcher] 26/6/2020 13:39

dint someone say that nm said that cgp offer they got alternative that not disussif or smmat

so wot cgp got thens? i fink newcrest gonna buy cgp and dat why they ditch ned coz it sensitives innit like bald head in 36 degrees with chip fat on it and freckle skin

peelin a feelin it gonna be sold soon coz nows time

left field coming rio or barricks

[lowtrawler] 26/6/2020 13:26

There are certainly games being played but we can only guess what people are playing at. I very much doubt that NM wants a low share price. While Newcrest had a board member they could not discuss a SOLG takeover. They now can.

[lefrene] 26/6/2020 13:22

There's an awful lot of gamesmanship going on with Solg, what with dog in the manger CGP, and now Newcrest carping about the loan and leaving the Board. Surely Newcrest and BHP talk to each other and their joint near 30% holding should have some sway on Board decisions. Or does not being on the Board make it cleaner for Newcrest to bid, or even a joint bid with BHP?

If NM wants to get the valuation up then he needs to get ahead of the curve with these financial projects, surprise on the upside for once, or is he actually happy to see the value down here because he knows it puts the squeeze on CGP?

[lowtrawler] 26/6/2020 13:09

I think we had the rather prescient discussion about Newcrest earlier this week and should all be in a position to know where we stand with that. Let's concentrate on things SOLG can control and we can look forward to. Exploration results, PFS and permits.

[rougepierre] 26/6/2020 11:25

This is where it started...

"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 prompted Newcrest to consider removing its representative from the SolGold board.

BHP and Newcrest collectively own close to 30 per cent of SolGold, but neither will participate in a surprise $US20 million ($28.8 million) fundraising announced by SolGold on Friday morning.

The raising comes less than a month after SolGold, which has no sustainable source of revenue, disappointed BHP and Newcrest by signing up to an eight month loan with interest rates of 12 per cent.

BHP and Newcrest have publicly urged SolGold directors to raise funds via equity, arguing that approach is in the best interests of existing shareholders.

The big miners have argued equity is a cheaper source fo funds for a company that is developing a long-dated and expensive mining project in a frontier jurisdiction, than debt or offtake deals.

SolGold appeared to have met those calls with Friday's opportunity to buy more shares at a discount of about 10 per cent to the closing price of SolGold's London shares on Thursday.

But neither big miner will participate amid concerns over SolGold's chaotic approach to financing.

“Newcrest will not be participating in the raising. We are disappointed with the approach that Solgold management has taken in respect to financing the company,'' said a Newcrest spokesman in a statement.

Friday's raising came with extensive legal footnotes, appendixes and disclaimers, which made clear that only a certain number of investors would be invited to participate.
Australian residents face legal restrictions if they want to participate, and participants cannot trade the new shares prior to October 10.

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.

Newcrest's block caving expert Craig Jones has served as the company's representative on the SolGold board, amid expectations that SolGold's flagship Alpala deposit will be a block cave if it is ever turned into a mine.

Newcrest indicated on Friday it may relieve Mr Jones of the fiduciary and legal responsibilities that come with being a director of SolGold.

''We are considering our position with respect to our representation on the Solgold board,” said a Newcrest spokesman.

The fact BHP and Newcrest will not participate despite publicly urging SolGold to raise funds via equity highlights the gulf that now exists between management of the copper developer and companies that control almost 30 per cent of its register.

That combined stake will almost certainly shrink through dilution in the wake of Friday's fundraising, which SolGold said created an opportunity to'' broaden the Company’s shareholder base through the introduction of new investors''."

[lowtrawler] 26/6/2020 10:14

Agreed Arcadian. I can see weekly exploration results having a massive positive impact. Possibly commence end July?

[arcadian] 26/6/2020 10:00

Not worried because it`s probably a formality at this stage but it will be reassuring and even if it doesn`t produce a dramatic upward thrust of the price it will help the gradual appreciation all round that NM means business. Finance and a stream of discoveries however will, I believe, do the trick and I will remain patient until then..

[rougepierre] 26/6/2020 09:58

you can bet your life Nick will make it a big thing...

[lowtrawler] 26/6/2020 09:36

I really don't think getting the FNV deal signed will have much impact on the price. I believe most people see it as a formality and so final confirmation may have a minor impact but it's not something that we should be worried about.

[arcadian] 26/6/2020 08:34

MK

I agree with you that we just need patience to await the finalisation of the Franco financing as this then demonstrates that the enormous assets will be mined and their value returned to investors way beyond that suggested by the current share price That financing throws a gauntlet down to others who covet the assets which, if they are not careful, will slip away beyond their reach.

[nas_daq] 26/6/2020 08:04

Lol.....you say a lot of bullish BS most of it wrong......

[pob69] 26/6/2020 08:03

Recording from last night's presentation at 1:10 hours Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador



The presentation has since been updated with the removal of Craig Jones from the board and th inclusion of Jason Ward

[mknight] 26/6/2020 06:06

As i said yesterday sort out Franco and the share price rises again .

[boris cobaka] 26/6/2020 02:54

At least short term weakness now until more positive news emerges.
Not great that any issues between parties are so bad that bodies are now turning up.
Uncertainty reigns for the time being and shares hate nothing more than potential fallout from what should have been a happy marriage.

Needs some clarity otherwise the so nay struggle here.

[tibszol1] 25/6/2020 21:13

I`m sure that even as we speak the boys at Citi are feverishly putting together a poison pill that even Belzebub would baulk at swallowing, and tapping up would be sources of finance, remember Citi is one of the worlds biggest financial institutions and more than a match for BHP or anyone else for that matter.Nick knows what he`s got and has no need to get all hysterical when presenting. Is it conceivable that there are shareholders out there stupid enough to sell out to some Johnny come lately for a tiny fraction of what Solgold is truly worth, just to make a few quick bucks.We will only better understand what Solgold has when a full drill campaign has been completed, and if has been hinted at, there is a possibility that over all it`s projects in Ecuador, there may be perhaps to or even three projects equal to or even greater than Alpala. What then for Solgold share price, 40p!!!, 60p!!!, 80p!!! Nonsense!! The sky will be the limit. I will be patient, I hope the majority of shareholders will also be patient, remember, ALL GOOD THINGS COME TO THOSE THAT WAIT.!!!

[mknight] 25/6/2020 21:09

I think NM would be better as a chairman and get some young blooded CEO to do the presentations . Lets face it he sounds Borring and it comes over poorly .

[pob69] 25/6/2020 20:43

Thanks RP for that good review.

The resignation was a surprise as Nick was asleep when it was announced and the website was only changed late this pm.

I, too, thought his comments on "Solgold's women" was in poor taste and frankly the whole presentation was low-key.

I had to look up what "dissuasive" meant and indeed he didn't sound confident in any bid being successful.

The implied delays on PFS and DFS are concerning and go against what has been said/RNSed before.

He also stated that the many more analysts in the world aware of this developing story - will this lead to more coverage?

Nick Mather's response to the miriad of questions posed will be interesting as the more the global spotlight shines on this "major in the making" company the more it needs to stand up to scrutiny as there are plenty of knockers out there (as evidenced by some interesting comments made by Warren Irwin and IKN in the last 24 hours)