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Eish. Smoke and Daggers eh? I think that you are putting the cart before the hearse......
TBTT To be honest, with whats happened with SXX, I was worried with financing. But with today's commodity prices, that risk is now lowered in my opinion. I actually think NM has much more leverage in terms of building shareholder value (via financing or takeover). The other positive in the Ex-BHP HR appointment, is she should be able to tap into BHP's talent pool (and hopefully Newcrest)
Nick has Tiger by its tail. 3 quick swings and then let go. bye
I agree with Czar this is a clear overview of developments internally nothing cryptic IMO. it is the sort of statement you get when the Building Society or Investment provider send you their AGM invite and notify you of board changes retirements of NED's etc. Quite settled with the message. GLA MFU
As a shareholder I am always happy for improved governance, who wouldn't be!
If it makes it harder for CGP to complain then good (Their idea of throwing away the board for hand picked CGP people would seem silly and would certainly lead to SOLGS advisors, nomad quiting.)
It makes it easier for funds and pensions to buy the shares and makes it easier for SOLG to fundraise.
A little bit more costly, but these things don't cost a fortune.
The employement of White and Case is the biggest thing for me. They are ruthless with a Capital R. The Goldman of the legal world. They will protect SOLG's rights in ecuador with everything and will make CGP's major shareholders think more than Twice about being difficult.
It negates CGP's claim that SOLG is run by Nick, particularly with Brian going from the Chairman role and will add more legal clout to anybody if they wish to take CGP to court for not dealing with the takeover offer fairly.
What a desperate deramp from TBTT, worries for your investment indeed. Sell up then! Simplez
But you’ve chosen not to do that. Instead you’ve come on here to sow seeds of woe. What a shoddy individual.
Magoo247, I think you have it about right. No need to panic here, Tiger's should never panic anyway! LOL! This is a smoke and dagger's game now. But for SURE, we have the stuff in the ground, terra firma! We are more and more valuable every day so the stakes are higher as POG/S go skywards!
For me this isn't a great RNS nor is it desperation, it is simply Evolution!
It sends the message that we are clearly (currently) evolving from an explorer/seller to a full blown miner and we need to evolve and improve the company structure along the way. Yes I agree that is probably at the behest of major shareholders but the important thing is we have listened and are doing something about it, I would be more worried if we were in denial and did nothing.
today's rns will for sure please major shareholders
TBTT....if you're as worried as you say you are sell up and move on. Why stay invested when you're worried? Youre trying to spread fear and it ain't working matey.......lol
I do lol
I don't know who is more desperate nick or tiger , lol
Yep, Copperpot, someone is desperate. And it is Nick Mather!
Frankly, I'm getting worried about my holding here. Nick Mather is clearly desperate to cling on to being CEO of Solgold at almost any cost. The Colonel's theory about his words being a bluff to extract the highest possible takeover price from a bidder is clearly wrong. He's power-crazy and dreaming of building an empire. And as Addicknt has previously noted on this board, empire builders always fail.
This company has got SXX written all over it. The CEO will drive it into the ground in pursuit of a financing scheme that could never work, and when failure is evident, a major will swoop in a buy it up for pennies.
The question is, does he have enough support from the big shareholders? Or can they get rid of him?
I think this is all in line with NM's plan to production (and financing). To hire executives takes 3-6 months, so this was already in train before Cornerstone's request to change the board. I still don't know which is more beneficial (take over or production), but I don't think there is merit in sacking the board (unless solgold stuffs up financing, meeting his major milestones or run out of cash)
This has got nothing to do with Cornertone, this is not as you call it a desparate move, this is a class smoke a morrors move to 1. let everyone believe we're going to production 2. Set his ducks in a row, to ensure all in the company is tickety boo within the structure for a T/O 3. Increase share price IMO
TBTT as you say, someone is sounding desperate!
GLA.
I'm bewildered how this board can put a positive spin on this RNS.
Reading between the lines, the RNS is an attempt to appease major shareholders, who presumably have indicated their displeasure at the way the company is currently being run. All in all, it is desperation measures. And it proves that a lot of what Cornerstone have been saying (e.g. the current board is stacked with NM's cronies) has at least some measure of truth behind it.
As a side-note, these moves will also be very expensive (in a non-productive way) for the company.
If a takeover isn't launched before October, I'd now put my money on Cornerstone's "sack the board" EGM motion succeeding. But I still reckon a takeover will likely happen before then.