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Mustn’t lose sight of the fact that we have never had more drills turning simultaneously in so many locations , the CEO has been removed, we have passsd up the FN money and the company has gone quiet ..... hmmm ?
I remember years back, before the website was redone, mr Mathers direct email used to be on there.
wish I had emailed him instead of investor relations in the past...... would love to send him a message right now. I will just have to hold and think of the asset, not the management crew. as someone has mentioned
GameStop now $310
Hedge funds absolutely crushed. Some of the funds apparently have closed their shorts. cough cough! Doesn't look like it to me.
I think the problem here is the asset is worth to much .
There is not enough company's with the funds to take this all the way if the asset was half the size we would have a much larger pool of souters.
Unfortunately drilling other areas has compounded the problem instead of helping its pushed us further out of reach
The danger we are facing is we keep borrowing exploring spending but so far haven't monetized anything cary on like that much longer and we will go bust and someone picks up a bargain (no prizes for guessing who)
The answer to me seams we need a company large enough to afford this with a strong demand for copper and maybe a tunel boaring experience throne in the type of company thats worth half a trillion dollars and could invest 10 billion on its own future
Franco did months and months of research before investing $100m. And offered another $50m. The asset is sweet. It's off the charts. The portfolio is amazing and exactly what the majors want.
There's nothing wrong with SOLG's assets and we are in a bull market for commodities. So the only issue for the lame share price has to remain market sceptism over funding options. It's as if the market is trying to force SOLG into a deal with BHP by lower the share price so that equity raises / dilution becomes too ugly to consider. Remember, the market did this last time around and NM managed to pull the Franco deal out of the bag which left NCM and BHP empty handed.
Something is brewing for sure and I think NM had to agree to step down before discussions could move to the next level. My guess is that it's BHP that will do a JV deal now and they asked for a new CEO to be in place as a condition of that deal.
Speculation on my part. But remember, the share price was around 29p/30p days before BHP agreed to a 45p placing for $100m.
I wasn't in MARL when its buyout took place but wasn't the SP taken down just ahead of the buyout ? Similar pattern here with SOLG ??
I wrote this back in November 2020. Someone who had been living in Ecuador confirmed that it made sense, It seems relevant given that it seems Andrés Arauz could win the elections. I hope it helps.
"I can see that some investors are concerned about the presidential elections in Ecuador next February. It seems two candidates could win the elections: Andrés Arauz (45,9% - voting intention) and Guillermo Lasso (32%). Lasso is a centre-right candidate. He is clearly in favour of mining and hydrocarbon exploration. Thus, this would be the best result for us investing in SolGold.
Ex-president Rafael Correa as a democratic socialist was supposed to oppose international investment and mining. But, during his presidency that was not the case. He clashed with anti-mining activists several times. He was in power for more than 10 years.
Andrés Arauz was one of Correa's ministers. He is a candidate for president in the 2021 general elections, with the support of the Correa's allies. Andrés Arauz is pushing ahead with his bid to continue Correa’s Citizens’ Revolution given that Correa was not allowed to stand in the elections (I wonder if this is going to be something similar to the current Colombian president who is seen as a puppet president for ex-president Alvaro Uribe Velez).
In any event, if Correa was not a problem to mining during his long presidency, it seems to me that Arauz should not be a problem, given that he is to continue with Correa's policies and be influenced by Correa and his allies views and policies;
I agree that Ecuador is not as safe jurisdiction as Australia but some seem to think or suggest that if Arauz wins some kind of expropriation policy will take place. From what I can see this is not part of Arauz's policies. Furthermore, people in South America have seen the results of Venezuela's Socialism failure and are not keen to make the same mistake.
I am not sure if someone has checked SolGold's facebook page. People have nothing but good things to say about them. Given that SolGold has ensured of gaining a fantastic reputation as a social and environmental responsible explorer with Ecuadorians.
This is my personal opinion of course.
Posted in: BMN
Q well said -I have been with Solg 8years and never sold a share I had accumulated. Now to drop my attachment and trade my holding.
Thanks that’s exactly where my head is at ....
DBW always had a regular tete a tete with a Solg employee-until this week!!
No response at all.
Hopefully shutdown is their lockdown and good news or at least an update of some sort will be unveiled.
I sent an email at the back end of last week DBW and have had no response.
It's unusual, because on the few occasions I've asked them questions in the past, I've heard back promptly.
Makes me think something is perhaps afoot behind the scenes.
I also emailed Eliza with a several questions... again not market sensitive.. no response
usually she is quite quick to respond.
dont know what to make of it if others are having the same experience right now. Can only hope its for 'imminent' deal breaking reasons and not just continued management failures
Thanks for the tip Belderino and will do my research on that company.
I must also reiterate that I remain fully invested... just blowing off stream
I did support NM and am sure with his shareholding this will not be sold out cheap. But I have to agree with your comments. A tier 1 asset and possibly more tier 1 finds but treated like a leper by the markets. You gain trust by hitting your deadlines.
I’m not worried about the timescale as none of us will be part of a company going to production ( unless a small % free carry) just think a company so famed for its treatment of the indigenous people and their surroundings, should show some of the same courtesy to its own investors
Just to reiterate, for those that missed it.
Why would a board on a salary, worry about S P.
We can sit here for years spouting the WE ARE GOING TO PRODUCTION ****e.
Just keep paying us.
Thanks P I s
I will buy more in the 20s and bottom draw them for the great grandkids.
A totally agree with plenty of what you have said.
The company wee happy to chat last week , which I appreciated but I have since asked several ( non sensitive) questions and had nothing back.
I know some will say there is no point in pestering them , if that’s the case is there any point whatsoever in having 2/3 people being paid for IR ?
I remain confident in the story here but think this side of things is being handled poorly at best.
I’d be interested to know if anyone has had a response in the last 2/3 days ?
ok cheers for that. hope thats true
It's certainly frustrating. Fun when the sp goes up but not so fun when it goes down. But I remain focussed on the business and not the share price.
Porvenir has the potential to become a 100% owned Tier 1 asset. BHP are out of the lock in period and free to bid. Neither Ecuador election candidates offer much concern. Both have to support mining ops that are advanced simply because their oil sector is ageing and they need to replace that rev. Arauz is pro oil. Pro business.
The only real problem with SOLG at present is news voids. I quite liked the hole updates one by one but can understand why they have moved to more collective data reporting as the bigger picture is what counts most.
The drill bit continues to turn everyday. The sp meanwhie is 38p one month and 30p the next. It's not going to trade like a flat line when retail investors are hoping in and out on a regualr basis due to being bored or peeed off.
The elections do not look a concern. News is piling up and I'm happy to buy the dips. The story is strong. But the road ahead is without a doubt bumpy. This is not a silky smooth stock rocket to 150p. It's taking time and testing many investors resolve. But the end game here is the same. And that's the one thing that never changes. 22moz gold... tonnes of copper. Ready and waiting for a Super major mining company or chinese investment fund.
As a former shareholder I understand where you are coming from Qalibashi. This share is not easy to sell knowing that it has probably as high as 6 times the resources of GGP but it is almost half the market capitalisation. I sold because I could see a downtrend which has culminated in breaking the 20 day moving average which was the last real resistance. Fantastic resources which do not show in the share price. Every time we received news from Porvenir I was topping up given the good results just for the share price to continue dropping. Not sure what is going to change the downtrend at this point. I am not encouraging anyone to sell here but if anyone is looking at interesting investments in latin America look at the webinar from Orosur Mining in the meantime.
Well said Qualbashi. I can't wait to get out of this pile of dung. I know some people bought in in single pence figures so i can understand why hold NM in high esteem. For those of us with 3 year or less experience , his and the board's performance has been **** poor. NM has made many grandstanding statement but has never met a deadline during my time. The post AGM silence from NM is gutless. He only comments when it suits himself.
Can't argue with you Q, here, here
Q hear hear !!!!
More than anything is the haphazard way we PI's are treated since the AGM.
We are 5 years ahead in drilling versus any competition re junior mining companies.
Multiple Tier 1 assets in our portfolio and yet the management are incapable of stopping the daily drip drip drip in the value of the share price.
I never ever thought that we would be sub 30p at this stage of our evolution.
We have fantastic geos led by Dr Garwin- we have Jason Ward -we have top notch Non execs- we have Citi we have 2 brokers representing us on the LSE market platform and even they cant stop the price from falling.
Look around and you see GGP rising and Orisur now ahead of us in share price but only with a limited number of shares in issue.
Even stable companion Ironridge IRR has had a pretty impressive movement in share price.
So I am at a total loss as to why we are where we are at this time.
I dont believe its anything to do with Mather.
I just hope the powers that be get a bloody good update out SOONER RATHER THAN LATER.
NM has missed every deadline going and ENOUGH IS ENOUGH.
I hope someone at SOLG reads this board.
I am angry and upset and for me that has never ever happened here.
I just cant believe the way the company is being run.