George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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So assuming Newmont and BHP vote him down that's 20%. Chuck in Norges and a few angry Fundmanagers and that's got to be nearer 10%. Then just throw in 10% for a retail base which likely is around 30%+ and you have your 40%.
So 40% CGP vs 40% non CGP.
Mmm... that would mean toast for him for sure.
Chucking twigger under the bus won't save him his job and hide the woeful last 12 months. But guess he's desperate.
Fort, Treasury shares do not have voting rights.
I can't remember the exact ownership swings but assuming CGP, buddies, Mather et all have near 40% now, Scott should be safe. But if 40% or more vote him down then that's going to look more like a 50:50 scenario and that would mean he needs to step down.
Incidentally, can anyone tell me whether the old CGP shares ... all 157m of them... which are owned by shareholders are available to vote on?? We all own a stake in those shares. So if not, I presume they are not allowed to vote as they have no direct owner unless of course, it means management vote on behalf of those 157m shares?
Anyone know?
Lol I thought mine at 7.7 was but no will be back to the early days soon but hopefully not the low of 1.18 that I paid !!
My top up at 8.6 to bring my average down looking like a shrewd move. *rolls eyes*
In my opinion
Scott won’t be ousted
6s will be upon us soon, and then 5p
The bleeding will stop when this useless board are ousted, and replaced with a board that will begin to monetise this asset through the sale of tenements.
The market is now sick to death of talk around how much gold there is. The time has now come to show us the money!!!
I voted for NM Bozi.
I was disappointed when he left the ceo job:)
It would seem XIB know something we don't know , smells like insider dealing to me at these levels. Is there a bottom for this? Dropping through the floor at the moment , on a weekly basis. Quite depressing.
Adikt, why do you cherry pick people's posts to suit your narrative.
Why not address his post saying.
" New low and no sign of the hemorrage being stopped, if anything it is getting worse".
Off course you won't. We don't want facts interrupting your blind faith.
NMM ….. of course there’s a chance they miss the target.
But my question is if you’re confident enough to state they’ll miss the target as fact surely you wouldn’t remain invested?
That’s all
So roxi.
Nobody is buying solg shares because it's Christmas.. That's why the sp is heading to 6p.
Bloody father Christmas.
And dbw is telling us he stands to lose a packet. No sh**t sherlock.
Would never of guessed you was desperate.
What depths will this board sink to if Ecuador pull the plug.
Hey I think they can’t afford to miss another target we’ll see
I could be wrong
Here’s one for you …. Still think Scott is toast ?
I don’t
Again one of us will be wrong
I simply don’t believe any sane person would remain invested in a company they had so little faith in….. I do believe you’re sane and I doubt you’re still invested.
DBW - when you say "in the company’s hands" this is the same company that has materially delayed (Alpala) and cancelled (Porvenir) previous PFSs?
I'm not suggesting SOLG will miss Q1 for PFS3. Mainly because they aren't doing much else. But I don't think completely unreasonable for others to flag the risk of SOLG pivoting and changing the plan again in Q1?
Hi Bozi, agreed. What I was trying to highlight was that I consider IPA to be more a significant event than another PFS.
I wouldn't however assume that SOLG is doing a great job on IPA. They have, depending on view, either over-committed spend at Cascabel when signing IPA, OR grossly under-developed and underspent.
I know an addendum has been proposed and discussed for a long while - but another obstacle SOLG appear to have put in front of themselves.
DBW,
Sorry for the apparent arrogance, but just say it how I see these days.
Here's a question for you... lets say you got the PFS ready for Q1 and in that PFS, you have to factor in build costs and finance costs which relate directly to inflation numbers and interest rates. Lets say your goal or ambition is to get the IRR up to 25% or better as that's a good read for most financiers/partners/buyers on a phased stage 1 plan.
So here's the question DBW... are you ready... here goes... would you issue that PFS in Q1 with an IRR of say 22% or 24%.... or would you wait until H2 (early Q3 24) and with interest rates falling and inflation falling, you can deliver a PFS that's looking fab with 26%+ IRR or even 27%?
And there's the dilemma? Trouble is, if Scott said revised PFS in Q3 24... (back in Q3 2) then we'd be down at 7p levels wouldn't we? Oh hang on a minute.... that's where we are now. Mmm... I wonder if the market is telling you that common sense will prevail over management promises which historically (especially with current management) are missed as a matter of routine.
That all said... there is a halfway house... they could do a DC special and release a PFS in Q1 with an appendum (updated PFS forecast for Q3 lol!) I think that's guise for... erm... we've delivered it but we haven't really really really delivered it coz we can't do that until the numbers look better.
Still think you'll get Scott's PFS in Q1?
Magoo, what is it exactly you find wrong with the 25th October update?
Exactly Bozi
One is in the company’s hands the other is down to government departments and red tape
NMM - it's a different ball game though when you're waiting on a government, particularly one in the midst of change as is the case in Ecuador.
It's uncontrollable for the company as far as I'm concerned. That said, I'd hope they're putting every effort into it, and in future, I'd hope they only provide timeframes for things fully within their control.
You're spot on DBW. There definitely is a policy from some to make spurious claims that can't be substantiated.
There's enough to question the company about without making statements that can't be qualified and passing them off as fact.
Very poor show.
DBW - PFS is a secondary milestone.
Revised IPA is due first. How many times have the company said this is anticipated during 2023; a 'good chance' this would land before Lasso left I think Scott messaged to you (or another PI).
We're still waiting.
I know SharketMare flags this, but this is key to reassure the market, and potential partners/buyers, we have a fully supportive Govt that want Cascabel built. (And built fast, not just drifting on further studies and phased approaches).
Fort you and a couple of others have stated recently we won’t see PFS in Q1
You “There is no chance of a PFS update in q1... that's just a ruse”
Orthern “It will absolutely be kicked down the road to q2 even q3 with no clear explanation or rationale”
And Kapil today “there is zero chance of him producing a PFS in Q1 CY 2024”
Seems like a negative and wildly misplaced agenda to me.
I’m confident they will deliver in Q1 but not arrogant enough to state it as fact.
We’ll see
'Call the fuzz!' Crikey Fort, you must be almost as old as me!
Hi knew about Berry Street though?
Someone call the fuzz and tell them we've been robbed... we got mugged for $4.5m last year and this year we've been cleaned out for $70m!!!!!