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Eloro - everyone's own shares are for them to vote as they wish but at the end of the day it's a democratic vote.
All the discussions around the vote are just company politics. Investors are making their feelings known and pointing out the perceived pitfalls of voting a certain way.
I agree with Add that we are now reaching a binary choice. For me, one choice presents much more threat and much less opportunity than the other, and I state my case accordingly.
That's all Redknight is doing too, so I'm not quite sure what the agenda is all about.
Been pretty evident for all to see that there is still a sizable seller dropping stock into the market like bombs. Who is it?? It's not BSC as they are done.
When price was around 8.5p, they were dropping 500k blocks or 250k blocks at 7.5p. They really don't care what price they gain and in same way to BSC seem intent on doing damage.
Fortunately, we seem to have some interested buyers (at last) appearing to mop this stock up or the MM's are simply doing a better job at matching the larger blocks.
We have a number of large holders on board and some are sub 3% (just) so tracing their activity not easy to do.
Clearly some large holders that have lost faith in SOLG management but buyers appearing now share price is down near multi lows.
Looks like potential large order print after hours today. Remember, we had the 13m huge block printed a few days ago.
If the pure selling weight is capping the stock or lack of buyes, then in theory, when selling in weight stops, and sp catches some wind, then we might see a recovery.
Solgold is only a beacon for ESG if you ignore the G.
You can be sure Italian that Bob is wooing bidders, but...
Having seen what happened at Noront, who wants to be a stalking horse...?
And I'm certain that with so much vested interest Sangha is seeking the highest price and/or the best deal fir shareholders because he had 153 million shares at stake.
But if the Board is booted, that goes out the window.
And has everyone forgotten Scott stating clearly in a presentation that he had met with BHP to build bridges and was due to meet Newmont in the same conference?
A complete contrast to when Mather managed to poss off BHPAND NCM AND CGP all in the same year!!!
I am sure there are other scenarios, but at the risk of oversimplification, I think that the only material reason why creeping takeovers have been made possible is because the management, starting from NM, have been fixated with obtaining a full price to sell the company and screwing the majors up, rather than looking at engaging them at the levels that the market conditions would imply.
After so many years I think we are all more than ripe for a sale at a realistic level and eager to move on.
In the ideal world that does not exist, I would love to see a statement from SOLG to invite suitors to show bids with a deadline, price starting low, simple and transparent. Overnight the real value of the buying interest would show and we would rerate 100-200%.
Crazy times......
The key question those thinking of voting against the resolutions should ask themselves is; why are BHP so opposed to the Board?
A clue: It isn't because they're concerned about the retail investor.
Remember what that bloke from Glencore said a month or so ago; 'the business model of the majors is to screw the small explorers.' And he wasn't joking.
I've given more than enough hints, but with Darryl bringing an action against the company it would not be smart for me to elaborate...
Contact me through ADVFN.
Classic redknight...
"people are unable to acknowledge their own shortcomings and loom for anyone to blame but themselves."
then in same post...
"if that scenario happens I will be on hear daily blaming people like you for my losses."
Darryl ? So what really happened? Can’t just leave it hanging
As you know I respected your views for years, until you started to lose the plot...
So sadly I filtered you...
But it seems you are continuing down a slippery slope that can only end with you destroying your credibility and damaging your finances in the process.
I have seen it too many times in this modern world that people are unable to acknowledge their own shortcomings and loom for anyone to blame but themselves.
It is fair game to criticise Mather for his crescendo of over hyping and under delivering, but the miracle of Alpala was discovered on his watch. And SOLG is a beacon for ESG.
Its OK to blame Darryl for the massive damage his incompetence and ignorance of mining finance did to the SP.
Its OK to call out Sangha for his grandstanding.
Its OK to criticise Twigger...way out of touch on Corplrate Governance.
But I cannot find anything that Scott has done wrong and Maria is a vital link to the Ecuadorian government.
So please look in the mirror and question your own judgement in ending up with a significant holding worth only 7p...watching immobile while the SP slid away.
Weve ended up with 1.7 million at 11p and a £68,000 loss on paper, but I have not felt so positive for at least a couple of years...
Unless Private Investors conspire with BHP, Newmont and Jiangxi to get rid of the Board, in which case I fear for every last penny of my investment.
And you bet if that scenario happens I will be on hear daily blaming people like you for my losses.
I really would wish that Lord Braggart would allow each PI to vote as each see fit. Its each PI's shares to vote as each see fit. He didn't give anyone money to buy their respective shares. So he should stop trying to coerced folks to vote his way.
Here he goes again bragging about how many shares he has and how much he spent. A braggart through and through. He can't help himself. I would say he is willy waving his share holding again, but I gather that it's all limp and not even a cold Heineken can put life back into that old dog:)
Fort,
Your view is a bit dramatic isn’t it? Why put a new board in that has to get up to speed on all of Solgolds tenements, all deals done and deal with the government again with new faces.
None of us know where the board is at with interested parties, I personally would rather leave things alone when we know nothing, absolutely nothing that is going on that Solgold cannot talk about.
You sound frustrated and talking rubbish in my opinion, let them in the know deal with it as they definitely know more than you
Have a good day and chill out a bit, ATB
Fort, indeed and I was the first person to point out the merger was a reverse takeover - and thank heavens it was.
You've become fixated on this issue of the CGP shares and I'm afraid I think you're talking nonsense.
Perhaps it's now time for you to 'get it into your head', if BHP end up packing the board they don't need to worry about votes, they'll simply be asked to stump up the equity to fund the development and you'll be sitting on the sidelines squealing like a stuck pig.
Well said addickt...
And the irony is that the people on here who fear oblivion are viting for...
Oblivion...
Agree Add, but some seem to be very emotional about these votes and are not thinking straight. They clearly dont realise that the alternative is far worse than the current management.
If you decide to vote out the board you should sell Solgold and buy BHP shares.
Doesn't point two apply to the CGP merger?? Because that's what has happened!
You've already had the 'loss of control' and someone else making huge coinage out of SOLG. It's called Bob and Maxit.
Just another 157m shares to go and they'll be done... or will they?
For the last time... get it into your head... BHP or another cannot dilute all shareholders in the way you are saying simply because they don't have the voting power. Also, there are rules to prevent them from using their shareholding to exert undue influence. The list goes on. It's nonsense... just boot these guys out and you'll soon see a deal tabled.
From there... it's not a firesale at all... it becomes a 'who wants it' scenario and if we are all believers in Alpala ... then the list shoud be large... but someone has to kick start it coz these clowns certainly can't.
1) Support a management team which is working on behalf of the smaller shareholders and is moving towards an exit, or;
2) Cause chaos at board level and hand the management of the company on a plate to those organizations who have absolutely no interest in retail investors. They would insist upon funding the route to production with their own equity and in the process would dilute us virtually out of sight.
So far I've seen no logical argument which makes any sense of supporting point 2.
Caldwell is the only thing standing between us and oblivion. (I do like the odd bit of hyperbole!)
If you want a response from the board you have to write to them the old fashioned way as per the AGM circular.
"Shareholder Communication with the Board of Directors
Shareholders who are interested in communicating directly with members of the Board of Directors of the Company
(the “Board”), or the Board as a group, may do so by writing directly to the individual Board member or to the Board
generally at GPO Box 5261 (Level 27, 111 Eagle Street, Brisbane, Queensland) 4001, Australia. Shareholders may
not use any electronic address provided in the Notice, this Circular or any related document (including the form of
proxy) to communicate with the Company for any purposes other than those expressly stated. The Company Secretary
will forward communications directly to the appropriate Board member."
In my opinion the reason they have issued the RNS encouraging people to vote is because of Good Governance practices which as per the AGM Circular "necessitate that companies which have received 20 per cent or more of votes cast against
the Board recommendation for a resolution, or when resolutions are withdrawn, provide a final summary in the
explanatory notes to resolutions at the next shareholder meeting. It is common to explain what actions the company
has taken to consult shareholders in order to understand the reasons behind the result and update on the views
received from shareholders. The Notice of the Meeting provides the final opportunity to update shareholders on what
actions were taken and what impact the feedback has had on the decisions of the board. "
Given the boards response to those resolutions which received 20% or more votes against it was as follows..... "The Board notes that if the shares held directly and indirectly by certain major shareholders were excluded, these
resolutions would have passed with over 80% of the votes cast in favour of the resolutions. ". They clearly need as many PI votes as possible or the statement will look even more ridiculous next time. I mean its like saying Labour would have won 80% of the votes cast in the last General Election if you exclude those who voted Conservative.
They also need PI support to pass resolution 11 & 12 given it needs 75% of the votes passed to be for it to pass. Given that the two shareholders holding 20% of the shares will clearly vote against it - its already almost an impossibility that it would pass.
Anyway I have lost all confidence in the board and will vote accordingly.
Am I the only PI that thinks it’s bizarre they are advising that I give them even more power to dilute me even more?
Why would anyone vote for that?
I’m afraid I’ve had a gut full of their incompetence.
Totally disrespectful to owners of the company.
If feels like the next general election here. Two main parties an absolute shambles and smaller parties not going to cut it.
Don’t think I can even hold my nose and vote for the resolutions. Did that last year and what did that achieve?
Not interested in holding size. Proportional similar for my lifestyle I suspect.
So what really happened? Can’t just leave it hanging
Is
redknight
talking
to
a
wall
or
making
suggestions
to
someone?
And a final thought...
Apart from the fact that Scott can still remain as CEO even if he gets booted as a Director...
If you boot the whole Board, who do you think will elect the new Directors...?
BHP, Newmont, Jiangxi.
And what do you think will happen to the SP in the ensuing turmoil..?
And they say turkeys don't vote for Christmas...
Yep Add ….. every cloud
If they're afraid of a creeping takeover we should be heartened. At least it suggests someone's interested in the company!
I appreciate your constructive reply Aquinaga and believe Mr SOLG is on my mind morning and night.
We are not wealthy but we have oover £120,000 at risk.
I have been accused of ramping but I make no apologies for seeking out the positives, trying to take an objective view and backing posts up with incontrovertible facts.
And I'm sure you recall me hammering the company in the past, e.g.
Berating Mather for over hyping
Slamming Sangha for his utterly unprofessional public statements and
Having secured a one to one with Twigger a couple of years ago, telling him in no uncertain terms that the Corporate Governance was a disgrace.
Etc
But I've also had constructive dialogues with all the PRExecs, Ingo, Ayten, etc.
Onr day I'll tell you the real story of what happened under Darryls disastrous tenure...