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See Red, you're there again aren't you?
Always so over-reactive when someone questions anything.
Let me tell you something. Not everyone has hours to mull over sets of figures to try and make them sink in. Me personally, I work long hours and outside work I don't spend every minute of the day on here or researching like you do. And anyway, I've just been reading an interesting article called "Feasibilty study cheat sheet". No doubt you've already read it a hundred times and memorised it, but even that says that these reports are a great cure for insomnia. It's only obsessives like you who take much note of them.
Anyway I digress. My point is nobody is interested in all that permitting stuff. It's all by the by and has certainly done nothing whatsoever for the share price.
The market and people on here want a monetisation event, just like the likes of you have telling us is about to happen for years. You've been wrong for ages, but no doubt you'll be right one day. I just wonder if we'll still be around when it happens.
And if a DFS is probably still six months away, because we can't get the figures together (from what I see, every other study has been delayed), what are those 20 investors/prospective buyers actually looking at in the data room?
I am honestly concerned that it's taken this long because they can't make it look attractive enough for anyone wanting to buy it. As was said by someone earlier, no news is bad news here.
Solid bids or serious investment. That's the only thing that will make this move, imo.
All that said, I'm quite comfortable with my holding. It's not excessive and it's not leveraged. It'll come good eventually.
I bought some more and voted out these useless bunch. I confirmed only Mather. Zero trust in the other clowns
Any chance that posters can stop getting so personal? Upon the approach to the AGM, feelings understandably heighten about which way to vote, but we are entering the season of goodwill. Please live and let live guys, and accept that each of us can post our thoughts & preferences whilst respecting other posters, and without being personally attacked by other posters.
Chill & enjoy the season guys ;)
All of that is on the first few pages of the November 2023 MD&A
"I have to be honest, I see these reports and usually I can't be bothered to read them and rely mostly on reactions on here to get some sort of view. ..."
So its not surprising that you said
"Why do I get the feeling someone's taking the proverbial here?
So nothing that moves us towards a sale has really happened in the last year has it?
Perhaps I've missed something, but I see nothing to make me think a sale is anywhere near, let alone imminent...."
I wonder how many other people are critical of Scott and will vote against him because they think he is doing nothing.
If posters here can't be bothered to reads the information that is readily available, why the hell are you still invested?
And
TERM RENEWAL
The Company announced on 17 July 2023 the receipt of the Term Renewal from the Ministry of Energy and Mines of the
Government of Ecuador for the Cascabel Project Concession (“Cascabel”).
The Northern Zonal Coordination of the Ministry of Energy and Mines issued Official Letter No. MEM-CZN-2023-0810-OF
containing Resolution No. MEM-CZN -2023-0090-RM (“Resolution”) for the Term Renewal of the Cascabel Mining
Concession (Code 402288) until 2048. The Company may request additional term renewals in the future. The Term Renewal
confirms that Cascabel comprises 4,979 contiguous hectares and is a large-scale mining regime in accordance with Ecuador’s
mining regulations.
The mining concession renewal term is 25 years from the registration date of the Resolution in the Mining Registry under
the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources and subsequent notification to
the Northern Zonal Coordination of the Ministry of Energy and Mines.
INVESTMENT PROTECTION AGREEMENT
On 19 November 2021, the Company signed a preliminary commitment declaration for an exploration investment
protection agreement (“IPA”) for the Cascabel Project in northern Ecuador. The IPA outlines an intention to invest
approximately US$430 million over 10 years, between 2013 and 2023, in mineral exploration activities in the Cascabel 38
mining concession. The total includes historical investments of approximately $238 million invested through the end of 2021
and planned future investments through the end of 2023, which is when the exploration phase of activities, as defined under
mining law, is expected to finish. As noted below, the Company is in the process of amending the IPA to reflect the changes
in the status of the Cascabel Project.
EXPLORATION PERMIT (“EARLY WORKS”)
The company continues to receive the necessary permits to advance planned activities that are required to complete the exploration phase.
Also
PERMITTING
EXPLOITATION AGREEMENT
On 19 July 2023, the Company completed contractual negotiations with the Government of Ecuador and agreed upon a
term sheet (“Term Sheet”) in preparation for the execution of the Exploitation Agreement for the Cascabel Project. The
Exploitation Agreement, coupled with existing legislations and regulations, establishes the legal and financial terms and
conditions (including taxes, royalties, and advance royalties) required for the Cascabel Project’s development. The Term
Sheet has been approved by the Ecuadorian Government and provides for the production of copper, gold, and silver from
the contract area for a period of 33 years, which may be renewed. The Group and the Government of Ecuador agreed to an
advanced royalty payment totalling $75 million, with $25 million due upon the concentrator construction start date. The
remaining two payments, each of $25 million, will be made on the first and second anniversary, respectively, from the date
of the first payment. The actual royalty on net smelter revenues ranges from 3% to 8%. Revenue from the royalties collected
by the government will be allocated to productive and sustainable projects through the municipal governments and parish
councils of the communities of the Cascabel Project. The Company has applied to change the Cascabel Project’s official
status from exploration phase to exploitation phase (“Phase Change Application”). The Company has up to six months after
the approval of the Phase Change Applications to execute the Exploitation Agreement. Once executed, the Exploitation
Agreement is required to be registered with the Mines Registry. The Exploitation Agreement will govern the legal, economic,
technical, social and environmental commitments by the Company and the Government of Ecuador.
Management expects the Exploitation Contract to be finalized and announced prior to end of the current financial year.
MD&A Nov 2023:
"Advanced work on the revised pre-feasibility study, which envisions a phased development approach of the Cascabel
Project, with the primary objective of the study reducing the initial capital required to commence operations."
"We continued our review of financing opportunities. Options under consideration include but are not limited to, selling a direct or indirect interest in the Cascabel project, divesting other assets, or issuing debt or equity for cash proceeds."
"We continued the implementation of the reorganization plan emplaced in 2023 which is designed to reduce costs, optimize manpower and prioritize capital allocation to position the Company for long-term success. This ongoing process is focused on preserving the Company’s financial resources, de-risking the Cascabel Project, and investing in exploration projects on a rational and prioritized basis."
"During the three months ended 30 September 2023, the Company continued work and vendor engagements to produce a revised pre-feasibility study, which envisions a phased development of the Cascabel Project. The updated pre-feasibility study is expected to be completed by first calendar quarter 2024. Management is currently negotiating access rights and ownership for proposed tailings management area locations. Once accessible, geotechnical work can commence. Access to the proposed locations is expected to be secured in fiscal 2024. Most other project work will be focused on obtaining required permits and agreements to allow for the development of the Cascabel Project (see Permitting section, below).
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.
Red is a pure fantasist, it’s really sad but BB’s attract people who live out their best lives on them.
Don’t believe a word he says, his holding will be at a much higher average but lower amount holding than he says.
The way he could gain some credibility is by posting a screenshot of his and his wife’s ( 26 year Swedish model, I’m sure) holdings.
He can’t have any objection to this as he talks it up so much, but I absolutely guarantee he won’t. This is one Solgold prediction that won’t be disputed.!
So, people are in a mess with this stock, first thing to do is, don’t keep throwing good money after bad. There are a world of stocks out there, each new dollar invested in a good stock is a chance to make new gains and put this one behind you. Realize that the pink page stocks don’t make you rich, they are for suckers.
And the next time somebody mentions 20 companies in the data room, ask them how many are still actually there? Why didn’t they like what they see, why haven’t they started buying at these prices.
You made a bad call with this one but don’t let it ruin you.
I am not saying sell up, hold and treat this as the outside gamble it has always been, but prepare yourself for more dilution in spring and spread your risk as much as possible in some non get rich quick stocks!
I repeat again, guys who are calm out their investments don’t post on BB’s about them, there is no need to, they are secure in the knowledge it will do what they expect.
People who post a lot are in panic…
Will pop back in if things start to look up and there is something positive to talk about but this could be going quite a bit lower yet.
I have to be honest, I see these reports and usually I can't be bothered to read them and rely mostly on reactions on here to get some sort of view.
I'm off work at the monent, so have had time to have a proper look;
Maiden MRE Dec 2017
"The Preliminary Economic Analysis (PEA) is advancing and Feasibility studies will follow seamlessly. Our aim is to fast track towards development." 20th Nov 2018
Positive PEA results 20th May 2019
PEA filed 28th June 2019
MRE#3 7th April 2020
"SolGold planned a fast delivery of a PFS for completion at the end of Q3 2020." Covid caused delay. 30th Sept 2020
Revised study announced 5th Feb 2021
PFS results announced "Cascabel project Definitive Feasibility Study ("DFS") planned for completion in H2 CY23" 20th April 2022
And as far as I can see, that's it. Have we actually had a DFS and I've missed it? That's what we're still waiting for isn't it?
The reason I'm asking is I wonder if someone can tell me if this sort of timeline is about right?
I'm looking at the Lassonde curve and it's telling me that the feasibility period is 2-3 years.
Now I know we've had Covid and changes in the board etc, but since that maiden MRE, we're almost at 6 years now.
Why do I get the feeling someone's taking the proverbial here?
So nothing that moves us towards a sale has really happened in the last year has it?
Perhaps I've missed something, but I see nothing to make me think a sale is anywhere near, let alone imminent.
"And does your wife know you've lost all this money...?"
Very ironic, redknight!
"Plus, I have a day job and young kids, so I cannot dedicate as much time to research as I did when I bought solg in the first place...."
On 24 November you posted at
6.47
6.58
7.07
7.45
8.18
8.19
8.21
8.25
8.29
9.16
9.23
10.26
10.39
10.52
11.22
11.27
11.42
11.50
13.26
14.36
And on your day off (Sunday) to give the kids and wife quality time youi posted at
9.42
9.55
10.14
10.18
10.20
10.27
10.35
10.48
12.59
But back at the grindstone today...
11.33
11.44
13.14
14.43
14.53
15.49
So are you a civil servant, on a zero hours contract...does your employer have internet tracking software...
Maybe if you dedicated more time to research and actively managing your holding rather than psoting all day you might not be in the mess you are...
And does your wife know you've lost all this money...?
Sleep well.
Signing off
Questions left unanswered:
"What has he not done that he said he would do. Please insert quotes. "
"If you get rid of Scott, who comes in to replace him? How much does it cost in severance? What happens to the SP when he sells his 17 million shares? What directly relevant experience will the incomer have of running an explorer like Solgold and more specifically preparing it for a sale? How long is the learning curve for the new person?"
""End the strategic review and start some corporate action in play..."
What specific action do you propose...more drilling? Faster cash rundown...may add to thje asset but iof the market values a company with $155 BILLION in the glorund at £250m, what difference would that make.?
Don't even think of answering this unless you have credible, believable, costed proposals to push the SP higher. I repeat. Only respond to this post with credible authoritative answers. "
""Too much about this company is reduced to guessing because we are not properly informed. "
"So please tell me Eloro what we are not being properly informed of?"
"So Eloro...tell me precisely what you would have done to arrest a slide which, albeit accelerated by the Berry Street capitulation, mirrors the savaging of so many other mining companies... "
Take your time. Eloro..you have until tomorrow to come up with the answers...
And would a humble person say this...
"The GFD, CEO, CCD, BBC, ITV would do well to remember the virtue of being humble. "
So as you close, you haven't answered any of the legitimate questions I have asked...
Here are some of your more humble statements in the last few days:
"Nincompoop Aussie Loser...Yet again you wear your illiteracy like a team colour and your lack of intelligence like a badge of honour..."
"Clearly they had you in mind when they said that there is no fool like an old fool:....At least you can blame your illiteracy on dementia. Have you changed your diaper yet NAL?....Being a schoolboy is infinitely better than having to rely on a carer for the basics heh NAL!"
"Arrogant, condescending, boastful and a poster who thinks only his views matters and that you are a genius and everyone else are simpletons."
Hmm..."There is a verse I try to live by(KJV):
"He that humbleth himself shall be exalted. He that exalteth himself shall be abase (made low)."
😂sold the lot at 35-40p😂😂. Even DBW must be cringing at that one.
Redknight ‘ If anhything Scott has stabiloised the price’ ….. brilliant stuff
Points taken Bozi. You are right, I did not carry out a peer review, comparison. I guess that my only focus is solg, and I am holding come what may. Plus, I have a day job and young kids, so I cannot dedicate as much time to research as I did when I bought solg in the first place. I am not worried. Short of a nationalisation, we have the asset and it will be sold or disposed of one way or the other.
I will no longer interact with the GFD, CEO, braggart about how I will vote my solg shares.
There is a verse I try to live by(KJV):
"He that humbleth himself shall be exalted. He that exalteth himself shall be abase (made low)."
The GFD, CEO, CCD, BBC, ITV would do well to remember the virtue of being humble. Got an appointment now.
Gino
Is that you manipulating the order book and in doing so the share price of SOLG?
Well, you are missing my last "UPS" selected last week. finally is going nuts UP. 14.58% today
https://uk.advfn.com/p.php?pid=legacyintra&epic=HARL&type=1&size=2&period=d&freq=1&ind_type1=0&ind1_1=&ind2_1=&olx_1=&scheme=&delay_indices=1%20thums%20up
Master RSI 21 Nov '23 - 23:45 - 449 of 550
UPS
HARL 12.25p (12 v 12.50p)
Bounce today from an oversold territory chart looking ready for further rise. Has recently won contracts of many Millions and has put tender for many more. High debt.
Totally agree Bozi...
And given that Berry Street accounted for the fall from 14p+ to under 8p, the whole of this can be laid firmly at Darryls door not Scotts.
If anhything Scott has stabiloised the price, including throwing his own cash at it.
Lol my posts might sound arrogant…….
“My posts may sound arrogant, but only because sometimes I do know what I'm talking about...and I do far more research than you clearly do and I am far more active in managing my shareholding than you are.
I twice sold out entirely at 35/40p and made enough money to buy 2 AMGs and to hold the substantial positions we now hold.”
Course you did clown 🤡
Haven’t read any posts since dinner with Qalibashi last Wednesday and it’s pretty refreshing.
However have just had a Quick Look and who should pop up but the most odious, arrogant, narcissistic poster on here…..
Still boasting his 🐂 💩
I don’t think anyone who thinks that a £100k shareholding is substantial and boasting about it is actually doing that well.
I suspect some on here pay that in school fees every year
The temper obviously thinks he is a success at everything he touches, I suspect most in here just think he is a kn.ob
Eloro - because I strongly believe that is only one viable reading of the current circumstances and events.
I believe the other reading is completely unreasonable and lacks any significant basis, hence me setting out some thoughts yesterday.
Your analysis of 40p-7p is carried out without any level of peer comparison which detracts from your argument.
I feel so strongly about this because I believe SolGold is now reaching the end of the road and we simply cannot have PIs voting for more disruption, more turmoil and more strife just because it makes them feel better.
"egos like Red making out that he knew everything before they happened."
Show me one post that justifies that remark Eloro.
To repeat. I watch, research and make decisions on SOLG virtually every day. Just recently it was to buy hundreds of thousands more at c9p+ and since then to hold...
To repeat...I have twice doubled our money; in May I sold out all except 200k. Since then I've built us back up to 1.4 million at an average of just over 11p...
Thats active management versus your own benign negkect and then blaming the CEO because you've lost money watching the SP fall...
Given the criticisms you have levelled back over a year, WHY OH WHY didn't you sell months ago...?
I may lighten the load before the AGM, but NOT because of Scott...more likely because of all the dismall jimmies that might collectively tip the balance and vote him out...
Brad. Scotty boy has had a year so far.
Take the clowns advice. Give him another year.
Or vote him out. Vote someone in the majors want, get us sold,
From Mr redknight:
"I bought hundreds of thousands at c9p+..."
Yes, by selling out higher and then buying back lower. That's not really 'support' for the share price.
"Please stop whingeing just because you've lost a packet through benign neglect having bought higher than this."
So the opposite of "benign neglect" is Mr redknight's averaging down whilst simulataneously ramping the share.
Eloro...I might be less dismissive if you answered the rational questions I have asked you.
To vote against Scott you need to have a rational reasoned argument.
You have criticised him but you haven't once stated whaty you would do instead?
My posts may sound arrogant, but only because sometimes I do know what I'm talking about...and I do far more research than you clearly do and I am far more active in managing my shareholding than you are.
I twice sold out entirely at 35/40p and made enough money to buy 2 AMGs and to hold the substantial positions we now hold.
And I DO care that the price should not fall further.
This is a very thin market and if yours and others constant negative sentiment gets through to some holders on here they might just sell out, pushing the SP even lower...
The price was buoyant an hour into trading and after that, 127 trades averaging £1k each pushed it down 8%...
Thats the sort of effect negative sentiment can have in a thin market...
Bozi, I don't know how you can be 100% certain that people like me are blatantly wrong?
No one knows exactly what is going on in the background for certain. You are making deductions based on available information. Equally, folks can arrive at different conclusions than yourself from their review of the same available information. Only time will tell who is right and who is wrong.
I will finish by saying that no one on this BB saw the merger coming and posted about it before it happened. No one knew that BSC were about to sell their position before it happened. No one knew that the SP would fall from 40p to 7p and posted about it before that happened. We are all left to guess, with egos like Red making out that he knew everything before they happened.