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You can't destabilise a train wreck. It's already destablised.
I know what you are saying but you are falling into the same trap and you need to realise that these guys will leap into action if their apple cart is turned upside down. So vote them down and watch what they do. You'll be suitable surprised imho. You'll soon see them achieve something as they want their plans messed up one bit.
There's no way BHP will vote for them. No way Newmont will vote for them. I reckon they'll be looking at 60%+ votes against in 4 weeks time.
They need a rabbit out of the hat big time. There's still time. Noboa takes over on Nov 26th. They've got about 11 days left with Lasso to get anything outstanding signed or else they are into new gov discussions. Mmm!
To be fair Fort, the spiral started with DC and his failed funding attempt. Its been down hill ever since.
DBW... I disagree. The market is voting them down already. I think if you vote them in, you'll see the sp crash further.
The market has no faith in ths management team. And lets face it... they did zero at CGP... they were just baby sitting that shell while waiting for their SOLG payday that didn't arrive.
I've seen nothing to change my mind on them. They have under 4 weeks now to show my something that suggests they know what they are doing. Fail to do that... and it's time they moved aside.
Perhaps the market will get excited that at last something might actually happen with SOLG? It's been a spiral downwards ever since they arrived.
Add ….. reckon everyone has their own agenda. Seems to me a few here may no longer be invested and looking for a low re entry. No right minded investor would look do destabilise things now
Fort, I am leaning back towards not voting for them. I don't see how they will meet the Q1 phased plan if the work hasn't started as yet. This plan was meant to persuade potential buyers that having a huge upfront capex wasn't mandatory.
Fort, I am leaning back towards not voting for them. I don't see how they will meet the Q1 phased plan if the work hasn't started as yet. This plan was meant to persuade potential buyers that having a huge upfront capex wasn't mandatory.
Eloro, absolutely. It would be complete madness to boot him out.
I should add.... they have an opportunity to earn my vote. Show me something pre AGM that I can vote on.
Not hard is it?
In absence of presenting anything meaningful to shareholder pre Dec 13th... I'm voting them all down and I can tell .. I know alot of people who are doing the same. They had their chance. They failed to deliver. There are plenty of experienced people out there ready to come in and get the job done on selling this asset.
“That's the problem... too many pi's out there not willing to take their chances on a new team and that time is approaching.”
We’ve taken our chances on a new team 3 times now …. Maybe some stability would be preferable this time. Unseating the board now would inevitably leads to more market jitters.
You know that ….. is that what you want ?
And what would you do Eloro? Faced with voting them in again? Would you vote them in next yar based on deliver zero and an sp of 3p?
That's the problem... too many pi's out there not willing to take their chances on a new team and that time is approaching.
What's the worst can happen? Remember... Maxit , Bob et all want the same thing. They need an exit. So faced with being pushed out of control... what do you think they'd do to save themselves? I think you'd soon see a deal materialise if you voted them all out. It's called self preservation. They'd have no choice... so force their hand. Vote against them.
Add, do still think Scott should be voted for?
I would not be happy if come next year this time we are still no further along.
Fort, your now making all the same noises as the people you have repeatedly attacked over the last 12 months for making the same points...
The promise of a Q1 PFS 2024 is just the usual carrot fluff stuff which I think they expect shareholders to vote them in on. If I remember correctly, it took about 6 months to take all the data and then get it build it into the last PFS.
How abotu Scott puts a resolution forward at the AGM which says... if I don't get a PFS done in q1 24, then I'll lose all my 17p options?
Sounds fair doesn't it?
"2024. Management intends to raise financing prior to June 2024 in order to maintain a strong cash position..."
So no sale in 24 H1 then, that tells me. In fact, probably no nothing is my guess.
I don't even see the PFS being done by 24 Q1 either.
Hmm.
I have to agree with Fort. It's hard to see why we should vote for this current lot.
969
:)
It will be interesting to see where the cut off points are for Copper for MRE4.
Sounds like this will be used for financing as I suspect the 0.16% cut off didn't quite cut it.
SM
1) News to me as well. I assume we're only doing this in the belief it will add something significant to the story.
2) I can't work out the implications of this. Does it mean we're being subjected to yet another missed deadline, or will it be irrelevant?
3) Thanks for pointing that out.
4) I think you're spot on, because it's 100% guaranteed that we won't be spending 400m.
Starting a new thread for those who care to discuss SOLG.
1. We are producing a 4th MRE - this was news to me, was anyone else aware of this? May account for some of the $6m exploration spend.
2. We are yet to engage a 3rd party to produce the PFS, which is due Q1 next year,
3. We are subletting our Brisbane office to conserve cash
4. We have spent $238m of the $400m committed by end '23 on exploration activity at Cascabel. This was part of the original IPA which is still being renegotiated. I have banged this drum for a while and think this is a blocker for getting the revised IPA done.
Cash burn $9.6m
Cash balance $22.9m
"With the ongoing restructuring efforts described below, management expects current cash balances to last beyond June
2024. Management intends to raise financing prior to June 2024 in order to maintain a strong cash position...
The Cascabel project will continue to move forward efficiently and cost-effectively. The following activities will advance and de-risk the project:
Securing the property required for essential infrastructure such as the tailings deposition site, the concentrate and
tailings pipeline route, etc.;
• Preparation and issuance of a Revised Prefeasibility Study that will examine a phased development approach for
the Cascabel Project;
• Engineering of the elements required to advance the study will be conducted by SolGold technical personnel; and
• Required third-party engineering will be sourced through a multiple-bid process and awarded to qualified firms
based on quality, cost, and schedule.
Capitalised expenditures on exploration and evaluations 3 months to Sept 23
Cascabel 3,042,767
Regional projects 1,282,463 ( I suspect this may be Bramadero...?)
Page 15 of MD&A is Major activities undertaken in the reporting period
Eloro...I believe the 'decline' is the angled shaft that will be dug in the first phase to access the higher ore.
It may not exist any more but Keith Marshall produced a graphic showing this after PFS2. Ingo was also very enthusiastic as it brings down the first phase production costs...
I've kept several presentations and the graphic is on page 20 of the 3 August 2022.
Bozi, I'm fairly balanced and have highlighted the rough with the smooth. The fat lady hasn't sung yet ... so I haven't got anything wrong thus far... the asset sale is the reason why I invested and I believe it will come as Tier1 assets do not remain on shelves.
You decided to turn bearish mid last year and you were right. Well done. I can't knock you for that. But the question is... why didn't you follow your own bearish outlook? What's worse... being bullish on a stock you think is a winner vs being invested in a stock that you think is a loser?
You got it right. But you massively got it wrong and wrong where it hurts.... in the pocket. Why oh why didn't you follow your own vision??
That's for you to deal with, but opposite might well play out for some pi's out there. They ight be sitting on hands at 9p today and then suddenly an offer comes in at 45p or something and they have missed a lifetime opportunity.
And that's SOLG for you. I'm not apologising for being bullish on SOLG as I fully expect to be proven correct. You on other hand, well... you've been the rabbit in the headlights.. not me. You saw it coming and you just sat there and got smashed.
Anyway... well done on EEE. Lets hope you are not too bullish on that one lol! Can't have that can we!!?
Agreed Sean, but it looks like its doing the exact opposite, with a strong tail wind behind we could even get back above 10p by the end of this week !!! how sad it is to be celebrating that 😭
Nothing exciting in the statement but it's nice to have a RNS that didn't crash the share price by 10am.