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So, if no workable proposal emerges following the phased PFS, what else do we do? Don't forget there's still this dynamic where many investors are expecting proposals based on the asset value.
I'm not suggesting it's the way forward at all, but you've got to have moves and counter-moves. For me, that involves being prepared for any eventuality, if that means we have to push on ourselves, so be it.
I'm sure many would take their leave and that's their prerogative.
It would take us a decade to buy the first spade
Absolutely no chance a junior explorer with no cash and no mine building skills can take on a project this complex. You’d have to be a moron to think otherwise
It will be monetised
We are producing a new PFS to increase our attractiveness to a larger group of buyers i.e the smaller and medium size miners who cannot fund and manage a truly large scale, multi-billiondollar development.
If this group of revenue producing miners with a track record cannot cope with such a project, how can we?
Our staff may be just about capable of cleaning out a pond or managing a small bakery, but financing and building a multi billion dollar block cave mine?
Do me a favour!
It isn't potato putaato at all. The facts are important unless you're intentionally obfuscating to fuel your agenda.
We don't need a good relationship with anyone. It's clear some investors wanted us to slide right up to any majors that wanted to listen from day 1 and we all know what that would have preceeded.
All that matters is we get the permits and IPA squared off and we show the market this is capable of being developed in phases. We're off to the races at that point.
Scott hasn't failed because he hasn't repaired relationships. The only way to repair the relationship with BHP would have been to make your first action as CEO a bit dirty cheap placing that BHP would have been asked to cornerstone, subject to a disapplication of pre-emption rights. That was never going to get past Bob, Warren and Nick, was it?
It's quite straightforward when you look at the corporate side of it. We create the triple threat I mentioned earlier and if they all back out then we go it alone-Quady style.
So voting aside, what do they actually do on a day to day basis that helps our cause? All I’ve seen so far is them whinging we can’t be diluted more to their benefit
1984, I am pretty sure if we had a good, amicable relationship with BHP, we would not have an rns like the recent one.
Anyway, my post is in response to those believe that our relationship with BHP is irrelevant. It's only irrelevant if we get a bid from someone else.
For me, the fact that we still have a bad relationship with them demonstrate Scott's failure as a ceo. He has failed to build bridges with a key stakeholder. That matters. I know that in the company where I work, a manager's is assessed on his/her ability to work cooperatively with key stakeholders to get the job done as a KPI.
Don't worry folks, more powerful shareholders will demonstrate their take of our current situation and will show who they hold accountable. I know that accountability is no longer a virtue in today's society.
What purpose does a “good relationship” with bhp serve anyway? It’s clear they want to have our pants down
I would just do another royalty raise, if they don’t like it they can buy the company and run it how they like
Hi Bozi, I read your post. It's potato, putaato re bringing BHP on board Vs them buying in. They are here, and folks initially expected that they would be the most likely buyer given their super major status. Now its clear that they are at logger head with us. So, let me clarify, they are important to us as a potential buyer, just as Jiangxi are to us as a potential buyer. It would be interested to see the reaction here if we read next week that our relationship with Jiangxi is just as bad as that which we currently have with BHP.
The Ferengi Rules of Acquisition 208 states:
"Sometimes the only thing more dangerous than a question is an answer."
Fidelity have been in for a while.
Interesting to see a new name on the register ( or one I hadn’t noticed before) Fidelity investments now hold 1.39% and guess where they’re based ?
https://www.marketscreener.com/quote/stock/SOLGOLD-PLC-4005870/company/
https://www.fidelity.ca/en/
*next
It’s the weekend and schools out so it must be time for the bitter tasting great green box galah to spit out some 💩
We’ll need week will be interesting, not sure it will be pretty though. Just hope the logjam breaks soon. Had enough of watching this get trashed by Solgold and some on here.
Good luck genuine holders hope your day comes and by the end of the 1st quarter. Trouble is we’ve been here before!!
Eloro - did you read my post from earlier on? Nick didn't bring them on board. They were in board through an off market purchase of existing stock and then Nick decided to pursue that relationship.
Everyone thought that was a good decision at the time and I stand by that. It was more dangerous to have one major on the register with free reign.
You only have to look at Filo Mining. BHP have done the same there. It's not that they aren't important. Ultimately, they're a potential buyer of our project/company but that's about it.
It's clear from reading between the lines. If BHP were as important as you're trying to make them sound then our investments would have been doomed. Why? Because BHP would own about 25% of the company and most of that stake would have been acquired at cheap equity prices. That much is clear from the commentary in recent years about BHP favouring new share issues over a royalty and also Twigger's subsequent comments.
One of the things that SOLG has going for it is that next year, we could conceivably see BHP, Newmont and Jiangxi all in the region of 10-12% holdings. That puts three super heavyweights around a table with the company and good luck to us all.
My money is on PFS3 before end of January...
Unless there is a bid(s)
But even then it would almost certainly be used as part of the bid defence
You're right Bozi.
https://www.miningweekly.com/article/solgold-rejects-bhp-bid-2016-10-10
https://news.metal.com/newscontent/100905605/bhp-billiton-buys-6-per-cent-stake-in-ecuadors-solgold-copper-mine-for-35-million
Hi Bozi, I can see that folks are doing revisionism and are eager to downplay the importance of BHP. BHP, a major mining company all of a sudden isn't important to solg! So what should we make of NM bringing on board a major whose addition holds no significance? The revision is due to BHP being revealed to be adversarial and aren't likely to make a bid any time soon. So, rather than folks acknowledging the calamity of the situation, we have posts downplaying their importance. Yet, if tomorrow we hear that BHP is about to make a bid, I am sure that all of the experts will be pontificating re the importance of BHP.
From my perspective, it does not bode well that the relationship with BHP hasn't been repaired since the NM days, and from the recent rns, Scott has failed to repair the relationship. To paraphrase, re our relationship with BHP, better to have them onside, in the tent peeing out, rather than have them outside peeing in as an adversary. Anyway, not long to wait and more powerful shareholders will make their presence felt. I cannot imagine that they are happy to see their positions decimated by an ineffectual ceo whose only claim to fame is how quickly his non-achievement decimated the SP, under his watch. Folks pinning their last best hope on a failure of a ceo. I would laugh if I wasn't a shareholder!
Hfm. I think even blind freddy knows the government wants it progressed quickly.
So what do you think of Caldwell mothballing us.
Furthermore. Have we just failed to meet another deadline. Correct me if I'm wrong, but have we not agreed to be making a tentative start to build the mine dy the end of this year. 2 weeks away.
And what do you think Ecuador will make of solg missing another deadline.
I'm sure they must be thinking, are solg the company we want to be involved with. Hence no agreements forth coming.
Hope not HFM that’s sub 1.5p
Agree re Q1 looking better
Indi123 Re Post stating SolGold need to pull up their Hiking boots.... IMHO I believe your overarching point to be correct, the govt will want Cascabel progressed significantly during their short term, but SolGold want fair value and that involves having the IPA in place which is with the Ecuadorian officials.
I believe updated PFS to be in good shape and wouldn't be surprised if the 'expert' input to it has been provided by strategics. Let's hope the AGM scrapes through this week, IPA and updated PFS land early in the NY then we've shown our hand a then let's see what the market makes of it.
Could see an all time bottom in the SP next week followed by a sharp reversal in Q1. C
Just out of interest. What happened to the experts who performed pfs1 and pfs2.
And if pfs3 doesn't work, how many experts do we go through to get the result we want.
And do we not think possible suiters, like the markets are getting a tad tired of the amount of studies we're doing. Not to say suspicious.
Dozi. Another with who's recollection of the past, coupled with the sort of arrogance you expect ftom this board.
Your post.
"Nick did then let BHP in on a couple of placings"
Nick Let them in you muppet. Let them in.!!!!!
He actually dragged them in with open arms.
Your let them in attitude, fits in well with mathers arrogance. Hence 7p a share.
BILLIONAIRE ROBERT FRIEDLAND SAYS COPPER PRICES NEED TO NEARLY DOUBLE IN ORDER TO CAUSE MINING COMPANIES TO BUILD COSTLY MINES TO MEET RISING DEMAND FOR CRITICAL MATERIALS
The clock is ticking.
Eloro - Nick didn't bring them on board as a shareholder. All the articles are wrong, history is being rewritten.
If you think back, BHPs proposal was rejected in favour of Newcrest's. BHP appeared later when they subsequently purchased Guyana Goldfields' stake off Scott, who was their CEO at the time.
Nick did then let BHP in on a couple of placings. One at 45p and then one at 22p. It made sense to do this at the time because BHP were supportive and pledging technical expertise. It's all in the RNS releases.
It was the Franco deal that changed everything.
On another point. Covgas/ dozi.
Try to keep up. You telling bbg to get out in the aus sunshine.
He actually now tells us he lives in Italy.
Also he's no longer in the farm selling business.
He ceased trading after buying copperpots cattle farm for him in Ireland.