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Funny how if it was down you wouldn’t post it
Of course it’s ramp, and that’s exactly how you meant it
Hmmmmm 🤔
Market cap now 368m v 359m at close here in the UK.
Quite high volumes for the TSX and +16.6% at one point. Using todays exchange rate equates to 13p a share. No idea why this should be but hopefully carries over to the ftse opening price.
We were doing well until a cunuk in eastern canada woke up today.
It's not difficult to see where the negative trading is based
Without turning this into a personal battle Fort, life is not all about being a smart Alec where money is concerned. I'm not desperate to buy the bottom and sell the top like some are. I've invested, sometimes I'll be too early. That's how this game goes.
I've also had a pretty good run on some other stocks, the ones you sought to ridicule me over, so you know I can't complain.
The main thing now is that SOLG recovers and we also do very well. I commend those buying now and hope they will be rewarded, you included. My point of view is that Scott is best placed to deliver that even taking into account the misgivings I've had in recent weeks and months. To vote him out now makes zero sense to me. ATB.
Thanks Fort
TSX up to 20 cents on swift buying
Not a ramp... just stating facts!
well that's a relief bozi. glad you're content and comfortable with the company and share price at sub 10p.
i'd be kicking myself if i didn't act on my fears and concerns over the stock like you. fancy calling it right but not actually backing it up with selling your holding?? surely you can see the irony in this?? unless of course you didn't really believe what you were spouting? i have to admit (and happy to) i thought this year was the year that solg got a monetisation event away. such a great asset and copper shortage looming you'd think tier1 copper assets would be flying off the shelves. problem is... there are not many of them. even barrick are entertaining the idea of seeking copper in the highly volatile hills of ****stan!! the places and risk some big miners go to hey?
so no... i'm not felling guilty one bit about calling this year wrong as i've stuck with and lowered average price ahead of what should end up a happy story. i'd be absolutely gutted if i saw all the pittfalls when the price was 32p+ and failed to follow my foresight.
as i said... i've been balanced for sometime now but you are the one that's been ultra negative. and now with sp at sub 10p and company looking like it's on its knees with reducing opportunities to raise further funds... you're content and happy?
serious bozi... just admit it... you're not invested here and instead are just having a laugh at long termers expense?
I've told you Fort I'm no great trader.
The difference between me and you however is that I raise points while the stock is a much higher price, thus giving shareholders things to think about and discuss.
You meanwhile, ramped the living hell out of SOLG all the way down and then only start to moan when it goes sub 10p.
One of us spots issues ahead of time and the other... well I don't know what it is you're doing exactly.
I'd say the last week or so for me has added greater clarity around SOLG following a disappointing period and all things considered, I'm in a more comfortable place with my investment.
The Board has consented to all Directors up for reelection annually.
Incidentally, I would be stunned if we appointed any new NEDs. We've cut the costs and I see no point in ramping them up again.
I remember at the time when we reached "peak" NEDs, pointing out that we had more directors than many FTSE100 companies. We'd lurched from one extreme to another and all in attempt to make it appear the board was not just a puppet for Mather.
Thank you Dinner. So that would be unclear and personally I would then discount that after talking over SOLG, SC and BS will open the door to any risk of losing control.
DM, I was trying to recall the circumstances when Twigger gave the commitment. Did it relate to Mather?
Wasn't a commitment given that all directors would be subject to annual re-election? I thought Twigger has said so.
Genuine question: is SC 100% actually up for a confirmation vote at this year's AGM or are we just talking about a non option?
10.82 to back to under 10.30 this is crazy price
Bozi must have bought back in... that great trading or investing if he sold out in the 20's and re-entered in the 10's. Absolutely fabulous call. But unfortunately, he didn't. He just sat on his stock and grumbled a bit or... alot!
FWIIW, I think there will be a corporate event or big news event in Q1 24 but it won't involve any promised PFS's. I think that's a ruse to be honest. Having spoken to a number of industry experts of late, no one wants to paint today's inflation numbers and high interest rates into a new PFS. It effectively makes it read very poorly. Better to wait until interest rates fall and inflation falls. Then bake those numbers in. No idea who Scott or Bob think they are communicating to these days but any savvy investor does not want to see a PFS in Q1 24. It won't be pretty. So only thing I can imagine is that post Ecuador elections, post Tailings investigations etc and post final red tape from the Gov... we should see ENSA deal or offer tabled in Q1 or earlier. And then promises of updated PFS's fade away as no longer relevant.
Like I said before, there's no way Ecuador gov would commit to red tape cutting and the $75m phased payments if they didn't know or think SOLG had a partner or buyer ready to take it on.
Forget updated PFS's... you won't see one again here imho... but you should see a sale/monetisation event as there really is no alternative now.
For the first time in a long time Bozi I agree with you 100%. Excellent post!
Fort, we are in agreement. The previous management wasted time. Scott has been critical of them. Hence, better is expected from him after his statement. Deliver an outcome, or get booted.
Bozi, I understand what are saying about Scott needing to remain to increase our chances of a sale. What is bothering me about that is given his lack lustre performance so far, I fear that we could make it to 2025 and still haven't had a bid. By then it will be too late to say we should have acted sooner. On ceo.ca someone posted that a class action was brought against him at one of his previous job. That implies that he has form for underachieving. I am willing to wait and see what he delivers by the AGM. I agree with Fort, get a jv on one or more of the other concessions, then he would have redeemed himself. I did not hold back in my emails.
Fort, just on a personal note, do you now accept the AGM will happen this year? And that you were wrong to criticize my understanding of the timeline? It's just you got a bit heated on the matter and tried to assert you intellectual dominance, but now it seems you're saying I was right and you were wrong. Can you confirm this? No need to apologize.
As far as SOLG management are concerned, appearances haven't correlated with the share price and that can distort things for us.
Looking at the replies Scott and Bob have shared with members of this board and reading between the lines of them, it's clear that they considered. SOLG pre-merger to be a collosal cluster**** with a good share price. Not surprising when you consider the relationship back then.
They are now saying, or appear to be, that the SP has weakened but the company has transformed for the better behind the scenes.
How do we test that theory? It's difficult for sure but I think it boils down to whether you think Scott has sat in his office for 12 months or actually achieved things. The EA was undoubtedly a step forward and ideally we want to see further discussions with the new government tied up post run-off. It also sounds like progress is being made with the tailings plan and port arrangements.
Anyone holding stock at the upcoming AGM has two simple thought trains to focus on. One being the amended mine plan and operational plan scheduled in Q1 and the other being the ability of Bob and Dan to bring something home in the year.
For me, I'm backing them on the basis that they are now in pole position to deliver for all SOLG shareholders and when I pull everything together, I think this team is the one to get it done.
Careful..... your starting to sound like me Fort... the rose tinted glasses have gone..
Eloro, it's not just Scott and co. Mather's team before and Darryl were all taking about looking at deals on the regionals. It's been going on now for 2 years and they've drilled closed to zero, farmed out zero and by looks of things it's cost $10m just to hold the licences. At a time when licence blocks in Ecuador are rare as hen-teeth... our current SOLG BoD's seem to struggle to get even the simpliest or most junior of deals done. The market would go bonkers if we signed an earn-in agreement with Barrick or Rio to drill some of our high value concessions. Ecuador gov would be chuffed too.
Perhaps that's all lined up for when the new President gets his feet or her feet under the table in 11 days time?
Scott can have my vote at the AGM but ONLY once he's given me a very clear idea of what I am voting him in for another 12months for? They need to deliver the outcome of the Strategic review before the AGM. If they don't... then I'm not voting for them. I want that outcome. I want to see them deliver what they promised. Is that too much to ask?
Would Chinese increase their investment and Ecuador gov sign those permits if they had no confidence in his work? Redesigning such a complicated mine plan takes time and it has to be 100% valid as any interested party will scrutinize it to look for any holes. This is solgold's / Scott's last chance to find someone interested. Let's give him time to complete his work.
Allied Nevada Gold Corp filed for bankruptcy after Scott left. Not sure that's a great example. I think all his CV shows is that he's been good buddies with Bob and Maxit et al.
And thus no surprise to see them stick him into the CEO role. But sorry... I haven't seen anything from Scott that makes me think he knows what he is doing at all. If he did know what he was doing, the PFS update would be out this quarter and not planned for a quarter after the AGM and even that is unlikely to happen IMHO.