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Hubrhunter wild speculation driven by boardom and desperation for some thing to happen
Twigger also commented on the exec appointments.
So looks like Twigger comments on all appointments but Darryl doesn't bother with bod's appointments...
Probably nothing.
Bozi,
From last exec appointments
"Darryl Cuzzubbo, SolGold Managing Director and Chief Executive Officer said: "On behalf of the Board, I am pleased to welcome Steve, Bernie and Rufus to SolGold. We are very fortunate to have them joining us. They bring the skills, experience and energy that we need to assist SolGold to realise its full potential as an organisation. These appointments demonstrate our commitment to growing and developing our business, building on SolGold's past success as we progress through the next phase. Steve, Bernie and Rufus were attracted to these roles because they want to play a significant role in realising the incredible opportunity that Cascabel and SolGold presents for Ecuador as the next Copper frontier when the world needs it most." END.
This time around.... not a word from Darryl.
My guess is what we might hear next goes like this.... the SOLG BoD's have concluded the strategic review and believe its in best interests to sell the entire business and based on this scenario my services are no longer required so I am resigning blah blah blah yours Darryl. Mr Mather will stand in as CEO until. buyer is found or deal done etc etc.
Fort - its on the chair to ratify the appointment of directors.
I suspect that is the reason and nothing more.
Fortissimo
I think both pieces of news would be largely wasted without funding sorted first
Nice to see Twigger putting his name to the RNS today. I was wondering when he'd pipe up as it nears AGM time... I guess he's wary he's not been seen for dust this year.
I would have though the CEO would have welcomed the new guys on board of his team. Instead we got Twigger.
Is Darryl next to go.... pre AGM?? Mather re-elected as CEO lol!
Watch this space.
Closing comment from Twiggy...
"The Board looks forward to working with Scott and Dan and the Company is sure to benefit from their experience."
I like words like 'sure' :-)
C.
I think SOLG have already put a line in the sand with the comment regarding 78p.
Whether that base case number ends up being best case is anyones guess but I think the strategic review will explore the best way to get the best price and sometimes that might be through selling cake slices off rather than the entire lot cherry and all.
We are in WEEK 42 of 52.
10 weeks left.
SOLG may have tactually secured their own butts at the next AGM with CGP deal, but I'm not feeling shareholder friendly right now in absence of promised Q4 news. I want my PFS2 and I want the Porvenir PEA BEFORE the AGM please.
Taking a line from CGP, they rejected Nick's 2nd attempt, saying the CGP shares were worth, in SOLG terms:
50p+ and even 80p+
So relax...Sangha, Irwin, Mather et al will get their payday...
And so will we...tick tock...
Just a clean take out deal, lock stock and barrel please.
Anything less and I'm going to be upset.
Management have sucked the living dream out of SOLG and left shareholders feeling like a low ball will be a result.
It's time to return cash to shareholders and fast before it's worth 10% less next year.
I sincerely hope that's the case, Fort.
I am fairly sure that many would want the short term value creation even if it was only 75% of said carrot..we have had years of yo yoing with all the highs and lows that this project has brought..there are still many hurdles to get over even to get close to production..lets have a half decent offer ( and by the way I should imagine that quite a few have topped up and or averaged down at around the current sp ) so many would probably settle for a little less than prices in the higher regions that have been touted and an opportunity to move on to something else..personally I dont want to be hanging round for the next few years on a possible maybe of a bigger payout
addicknt,
SOLG will NOT want to retain a 25% stake in ENSA and all the Capex commitments that go with that. You could be looking at $1bln+ cash requirement if the 75% owner sticks the foot to the pedal and doubles that PFS/DFS.
Imho, Darryl talks about 'next cab off the rank' like it's a great strategy but as we know, the first cab on the rank is currently without wheels and stuck on pile of bricks while costing a large wedge in cab rank fees!!!
If Porvenir follows the woeful progress of Alpala (lets face it, it's gone no where fast for 3 years!), then no one ... not even the market is going to give a flying .... if SOLG announce more cabs to come.
Someone needs to takes the 'keys' of their hands before SOLG turn it all into some kind of demolition derby.
https://www.youtube.com/watch?v=Ds1NalU84P4
That's as maybe Q, but it's completely hypothetical as it ain't gonna happen.
My worse case scenario here, apart from production, is for us to sell 70/75% of the project, divi out say 30p per share and keep the rest for further exploration etc. If a vote was required for this, I'd be voting against.
The greatest value creation is achieved by taking Alpala to production.
So did DC mean short term or long term.
Did he mean some value creation or real value creation.
'...value creation you mention'...actually those are DC's words, not mine. And, as you know, we must never doubt anything he says!:)
You are right, let's get some cash in the bank first.
I'm positively sure it is too.
I just hope he isn't swayed by others wanting to cut and run should three quarters of a carrot be dangled.
We'll have to see of course, but it's now important we clear up the funding and then press on to the value creation you mention.
I should add that by outlining his views on valuation he has made a rod for his own back. This suggests to me he's confident he can achieve something approximating to that value range.
Bozi, I think DC gave us a pretty clear steer as to his view of valuation and I'm damn sure that's how he explained things to Irwin et al.
That's well and good Addicknt, but it doesn't mean that whatever happens next is guaranteed to be better than palatable...and i haven't invested in SolGold for palatable.
The CGP folks can talk about an exit and moving on to new opportunities, but tier 1s like Cascabel aren't tenapenny and openings like Ecuador aren't plentiful.
I just hope and pray a proper job is done from here to deliver proper value. I don't for example, expect to see investors ****-a-hoop over an offer of 40-50p, an area where it has been possible to sell in the open market on a number of occasions in recent years.
Add …. Spot on
I don't think it's possible to over-emphasise Sangha, Irwin and NM's response to the situation. Anyone who harbours any doubts as to what's likely to happen should focus very carefully on the reaction of these three and, in the case of Sangha and Irwin, their willingness to sign the lock-up agreement.
They simply would not have agreed to this if they were not happy that a pay-day is on its way. You can forget all about production etc, etc, it's not going to happen. Were they presented with production as being the preferred route they wouldn't have signed and I think we could pretty much guarantee they'd be tweeting away about management incompetence etc.
“Does anybody have any ear defenders as those ducks are unbearable now :))”
https://m.youtube.com/watch?v=v_pi24xsvtc
Here’s one for you Novice. The newsreader confirms they’re on their way to South America - and we all know exactly where to!
GLA
I don’t think ( in this market especially) anyone Will believe an offer is coming until they see it in black and white . Those who think it is are the ones willing to take the risk .
Hubris
Nick has always said any sale would have to value Cascabel on the value of the project not the market cap , Irwin said the same, I’m guessing they’re both fairly content at the moment judging by recent comments via DGR and Irwin’s Twitter feed
Every mining focused investor knows about Solgold and its story... and will have followed it over the last few years... but still after the events of the last few weeks.... no volume or real sizeable interest at 15 pence....
I still hold here (Im certainly not selling in these lows) Its just no one can answer the very simple and obvious question, that holders should be asking themselves.. listening to, and taking at face value, the constant echo chamber here, of a sale happening any minute, leaves questions..
Even now, after recent news, I don't underestimate our boards inability to close a deal.. (regional joint ventures from a year ago???).