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Did you manage to keep a straight face when you typed that first sentence red?!
Eloro - consider those paragraphs together.
How can Scott run an auction if stakeholders have plans to mine?
Stakeholders like Jiangxi or Newmont will want to ensure every box is ticked before they push on with their plans so that's what Scott is doing whilst operating the SR. He's trying to produce a turnkey asset that will bring a better valuation.
Right on Italian...so much speculative nonsense posted by people who haven't a clue what theyre talking about...
Thank God they're not on the SOLG BoD...
Add to that the derampers and those who keep thinking their negative thoughts and worst nightmares out loud and no wonder the SP isn't making progress.
Listen...The Board and Darryl did a huge amount of damage with the failed cash raise, which Ingo and Ayten were against and it cost them their jobs...
Not a good look when the CEO is demoted and his successor and the other key Exec Directors leave, an interim Board takes over, Twigger talks about the Code of Corporate Governance and then ighores it by not putting all the Directors up for re-election.
Scott probably couldn't believe what a mess he walked into.
And all those plus the criminal lack of communication and shuttingh down the drilling have added to the continuing damage to the SP, but...
Junior Miners have had their worst bear run for a very long time...the Bull market is long overdue...
Gold, silver and copper are being manipulated to keep them down, despite a looming copper and silver shortage due to global environmental initiatives...so no wonder we are making no progrtess either...
Solgold is definitively for sale...20 parties in the data room can't be wrong...at least 5 site visits coming back with glowing reports...a favourable government for mining (and we are not a mine builder)...the possibility of doingh another royalty deal any time we want...sufficient cash and cash sources to last until the first bidder fires the starting gun...
Yes its been a long haul and a lot of time and money have been wasted, but...
We are on the verge of life changing gains here. Have a good weekend.
Completely agree Slug, Twitter is a much better platform if you want to get the companies attention....
TI is right though and to be fair if Scott delivers an updated IP agreement and permits which facilities the start of construction at Cascabel pre AGM the n he's done a good job IMHO and well worth another year.
On the SR, they need to derive how many of the 20 interested parties really are interested, tell them to they've got 3 more months to complete their DD, then put an end date to the SR of end of Q124. Then watch the SP retrace back to more palletable levels.
Next steps I want to see are permits and an end date to the SR then I'll add even more.
Have a lovely weekend all and just remember we've got great asset which means we'll get there eventually. C
1984
Probably not, but it might sway a few million shares……but yep it is unlikely to make too much difference……
With respect Italian, nobody has the ability to rock the boat via the LSE bulletin board
I can see that the BB is increasingly confusing fantasy with reality.
There are no auctions, there is no kicking out SC (this year at least), there is no alternative strategy at the moment whoever runs SOLG.
If you don't understand the strategy that has been explained ad nauseam you should not invest in the company. Besides CEOs do not control the share price, they control the strategy and strategy is only one factor affecting the share price.
Given the illiquidity, we have a first drop to 4p and a second drop to 1p if further instability is added to the SOLG equation.
If you rock the boat, prepare to drown.
Quady, no need to pontificate, it’s as simple as this
We’re a junior explorer with a tier 1 asset and zero hope of progressing it ourselves. So we’re going to be Sold
I have come to realise it doesn't matter what happens here, you will always get the same people saying this looks like someone is going to buy us.
You really couldn't make it up.
We have lost two directors, so we are going to be sold.
Scott had Weetabix for breakfast, so we are going to be sold.
Solgold have said twenty tenements are up for sale and Cascabel and Porvenir are not among them, so Solgold are lying and we are going to be sold.
The strategic review will never happen because we are going to be sold.
The rubbish that is on here has ruined this forum and you have the same numpties saying we are going to be sold.
Has anyone considered that the strategic review is progressing and the loss of these two directors is part of the process.
Before you say it, it doesn't prove we are going to be sold.
Guys, I am all for the auction, and there is nothing preventing Scott from holding an auction as an outcome of the SR while he still has his hands on the wheel.
Re Newmont being new, it has been posited that a partnership might be required to mine cascabel. So, nothing stopping Newmont and BHP coming together to get cascabel. I really find it hard to visualise things getting any worse than they are at present. SP tanked from 40p to 7p and we are still hoping that the man in charge who has so far done nothing to address the falling SP as part of his building shareholders value initiative, will somehow come up with a cunning plan. I really do hope that big stakeholders are starting to make their presence felt. Things can only get more interesting if that is indeed the case and the game would indeed be afoot to paraphrase Sherlock Holmes.
DBW - agreed but think he has to. The threat of attack is always there and the moment he steps away he knows the floodgates will be one step closer to opening.
By the way Eloro, if I wasn't clear enough then let me be explicit.
I am 1000% sure that BHP being not just on board but in the driving seat would be a terribly bad thing. They'd be in pole position to enact the creeping takeover that Twigger warned against a couple of years ago.
He (Twigger) might have raised a few eyebrows at times but those comments were spot on.
It's time to stop worrying about the SP, but give Caldwell the time and space to deliver the two big objectives and then we can reassess.
Add - you're probably not wrong. You've got to remember though that you've a career's experience in company life and standards and he turned to the game much later and from a completely different background.
Eloro - I wouldn't like to put a number on it but you've got to factor in what events might look like if Scott was binned and Bob/Maxit's influence curtailed in favour of new blood.
I mean, if events took a turn that the current incumbents didn't like, what would stop Bob selling his shares, Irwin selling his and maybe even Mather selling his? That would crush the SP. What would then stop a new management team raising heavily dilutive finance in Q2? Not very much to my mind.
It can always get worse, and lurching from strategy to strategy and team to team is one way to do that. We decided Mather wasn't the way forward so Cazzubbo took over. However, he led to management having extensive links with BHP and that was eventually recognised as dangerous. So we moved on to Caldwell placeholding and that just in the last 3 years. But apparently we want a 4th set of management in as many years?
It simply can't be allowed to happen. If it does, the conditioning will be complete.
Add, when I wrote my post, I wasn't thinking about Fort's theories. However, now that I have read Fort's response, I can see that he and I are thinking along the same lines. The SP got to 7.82p, how worse can it get Bozi? None of us can be 100% certain that having BHP back on board, thereby ending the endless raises, guessing, uncertainty, would be a bad thing. I am so fed up with Scott talking about 2024 which means that if he gets his way, we will still be here in 2025 wondering why a bid hasn't landed. I would welcome an auction just to break this endless cycle of talk, raise, and noses in the trough.
Add
Hasn’t that been the problem for the last 12 months.
All the PR/rumours are excuses imo. All this we have 20 companies accessing the data and site visits and re-visits planned is a load of fluff to pacify the small PI.
It would be ridiculous to get rid of SC because
A) investors don’t like the current sp
B) he hasn’t had much time and he has re-located to a bit of a dump compared to his usual home.
C) the market has been poor in general and could SC really have done much about the global economy.
I get holders are frustrated but the ones voicing their opinions the loudest are the ones who are over leveraged and need a higher sp.
Personally I think there is a lot of BS being posted to keep holders hanging on at the moment and potentially any sp moving news isn’t really in the hands of SC so why get rid of him.
Bozi …. Interesting that Nick chose to sit tight . Maybe a compromise has been struck to keep some ties to our Australian roots
"Sack the lot, suspend the share price pending an auction sale and let BHP, Chinese and the other 18 interested parties slug it out... with a deadline auction date for bids."
Never going to happen Fort. That's just not have the market works.
You can sack the lot, sure, but we end up significantly weakened vs the point of merger. From a corporate perspective, the moment the Mather/Sangha/Maxit axis loses control here then it is lights out for us all and 8p probably won't end up being the worst of it.
That's the issue here. By allowing emotion over operational matters to influence voting intentions you are threatening your own investment. Playing straight into any unscrupulous vulture's hands I'm afraid.
If SOLG sells for £1bn and Maxit pocket £25m then it's 2.5%. It's par for the course. You either have them involved and hold your nose or you leave yourself open.
Bozi, I agree. If the price for keeping Caldwell in situ was the removal of Twigger, I've got no quibbles. I've never forgiven him for his execrable performance at the 2020 AGM. In fact, he should have been sacked immediately thereafter.
Add-certainly has a whiff about it of buying votes for the main man.
Can't say I'm against that at this stage.
Fort, indeed they were not happy - it cost Mather his job. However, the deals have been done and, as it stands, can't be unwound, so I doubt history is the explanation, particularly as Newmont are new to the game.
It's possible BHP are fed up with BS ridiculing them - a foolish thing to do in my book - but is that reason enough? They only have 10%, so I can't see them being sufficiently powerful protagonists.
As to your last point, putting to one side the fact a company can't simply suspend its shares under those circumstances, do you really feel an auction now would maximise value? Surely we need our ducks in a row ie the IPA etc before we can sell?
Addicknt, you know BHP and NCM (newmont) are not happy with the royalty deals. There were quite a few that said funding via royalty deals was a non starter due to BHP's objections to the Franco deal. And they were proved wrong. In came Osisko and another £50m (more expensive) deal done. Further placings done to new investors and BHP left out cold. Maxit has creamed off $5m+ I think... might even be $10m in the process. There are plenty of reasons why the shareholders 'that matter' as you put it are not happy. Twigger punched back at BHP in public... highlighting their underhand tactics a year or so ago. So he was thrown to wolves to please BHP... no doubt about that imho. But like I said... it was an attempt for Scott to save his job. He basically threw twigger under a bus and the only question now is whether he gets BHP's votes for doing so.
Dog eat dog but it's of his own making... well not Scott's ... but Bob and Maxit. It's the latter that are running the show. A poor one at that. Bob and his bat hey? Now looks like he's polishing BHP's shoes lol!
The mighty have fallen as they say... and so has the share price. And more will be falling come the AGM as the CGP boys are out of their depth here and looking woefully inexperienced... and rightfully so... none of them has a clue how ot progress a Tier1 asset.
Sack the lot, suspend the share price pending an auction sale and let BHP, Chinese and the other 18 interested parties slug it out... with a deadline auction date for bids.
Not hard is it?
Eloro, yes, it was a serious question.
The people who matter are the large shareholders and they won't be fretting about the current sp. Indeed, if you believe Fort's conspiracy theory this is exactly where Caldwell wants it to be (that's complete nonsense, btw).
The key question is; is Caldwell pursuing the right objectives and is he going about it the right way? If you have any better ideas of how to achieve our goals, I'm all ears.
The board is sufficiently concerned about the AGM that they've ditched two directors, so I return to the question; what do they object to and why? Are BHP worried that SC will sell the business to the wrong people? Are The Chinese afraid of being sidelined? What's Newmont's view? These are the people who matter and it's clear that one or more of them have serious issues and it's got nothing to do with the share price.
So yes, my questions are serious and any enquiring mind should also be asking them. They go to the very heart of what's going on and we private shareholders are completely in the dark.
Adikt. It should be adled, because your blind faith
Is becoming ludicrous. The sp has dropped from 50p to 9p. We're in mothballs, we're completely adrift. And still after years you still won't accept anything negative
Seriously Add, "what Caldwell's doing wrong."?
He failed to arrest the decline of the SP for starters. The SP matters to a great number of investors because it enables PIs who wants to leave to do. Instead, we have a Hotel California share where checking out means having to take a huge paper loss. If more powerful shareholders are making their power felt, I welcome that because it would mean that finally, pressure is being bring to bear to achieve the required outcome while we are all still alive. The thought did occur to me that maybe getting rid of them might be a price for rekindling BHP's interest. But then that would mean NM would have also been a casualty. However, his share holding saved him? For sure things are becoming interesting leading up to the AGM.
Eloro. I refer you to my earlier post referencing posters who post the first thing that comes into ther head, and the craving for attention. And you being an arrogant schoolboy out of his depth
I assume a nincompoop is some kind of schoolboy insult.
Whatever it is, it goes right over my head.
Now get up and do your paper round, you naughty boy