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“Interesting article in Chinese media on $SOLG:
In addition, with regard to the Cascabel copper-gold project, Ecuador's largest undeveloped mine (owned by SolGold, in which Jiangxi Copper has a stake), the Ecuadorian Government has signed a preliminary agreement with the investor. The project has submitted an application to enter the mining phase, and the Ecuadorian government hopes to sign a formal mining agreement before the end of the current government's term so that the project company can obtain all project construction and mining-related permits to facilitate the start of construction of the project in 2025 with a capital expenditure of up to US$5 billion.
CDF Long”
No.
Many comments here are too pessimistic. The magazine, Money Week, has an article saying there is plenty of copper, silver and gold at Cascabel and in effect worth the risk. The article says SOLG may be bought sometime at a premium.
I am most concerned with political uncertainties and the cartels attempting to get a grip on Ecuador. Doesn't lend to a positive business environment or place to invest heavily. Is that the reason for the tumbling share price?
Was the world about to go into a recession and interest rates 5% plus last time………..
And far less confetti shares in issue too…
We’ve been at these levels numerous times and had far less indicated copper, gold and silver so hold onto those hats guys and let’s get back to the future
Looks like a chunky buy of 650,000 shares @ 12.95p at 16:20 today. An O trade. £84k .
We could do with a few more of those !
Someone working hard behind the scenes… this gives me much confidence
It’s not a call he needs it’s a massive kick up the backside
Perhaps Ship should have a follow up call with Scott to see if he is actually doing anything to arrest the fall in the SP. I would call him myself, but I don't think my position here measures up with others with more elephantine holdings to warrant my being granted an audience 😅
Thanks guys but it wasn't too difficult decision for me to topup because all the recent retrace is done on the back of a misley turnover rather than a big selloff which suggests a degree of manipulation.....I have no doubt it can go even lower but at the same time it can turn the other way,....today buying price is attractive enough for me.
Hopefully better days to come.....eventually.
I usually try and put a positive slant on things here because I do feel a deal will inevitably be done ( at some level)
But when it comes to communication and how shareholders have been treated…… you can’t defend the indefensible
Max.. Hope it pays off … I’ll hold on and see what happens but no more for me until they give me a reason to invest more
Someone joked to me that they should delist to protect any remaining shareholder value ( I realise this isn’t realistic of course and the obvious ramifications) whilst they put a deal together. It was tongue in cheek but just showed how disillusioned some are becoming……
I’d love to agree with you there max and admire your confidence but this is now a crisis as far as I am concerned with no obvious attempt by the bod to at least try to stem the drop or reassure investors! One can only hope that the forthcoming presentation is spectacular 🤷♂️
Indeed, and thanks for the topup opportunity....:)
Just don't forget, it's all about the longer term never mind the current SP, be brave when others (M/M mainly....) selling.
:)
Wow not so long ago worth 7 -800 million today as I post worth 380 million 🤷♂️
Got to be someone playing silly buggers ! We can now only hope that the people in charge know what they are doing but presently looks a tad precarious
And said “buffoon” has further towed back on the climate bull with the approval of new oil and gas project.
Net misery is beginning to unravel as it was always going to do, we’d best get a wriggle on if we’re selling this for its copper
Emerging Major....more like disappearing minor....will things ever look up for Solgold?
Yes yet another down day , farcical.
Now in the 12's - a big congratulations to Solg mgmt - I am sure they will be awarding bonuses to themselves for a job well done
Thanks for clarifying Fort,
Had Scott not openly criticised previous management, I would have been more tolerant of him. It would appear that those who jokingly said 10p might be proved right after all. Meanwhile, Scott is silent while shareholders value gets decimated. Where I work, everyone has an annual performance review. So I would expect Scott to be no different in that regard. Deliverable dates gets pushed out with no explanation. Not good.
But the buffoon was elected democratically, the even bigger buffoon wasn’t even elected by their own party members…..
Both ... but I was implying that at the very top of tree... we had Boris leading the country and we know what prokies and missed targets he delivered.
So little old Scott living in Ecuador and trying to sort out the SOLG mess should be dragged across the coals if he says MD&A for 26th and it turns out the 29th! But before the knives come out thick and fast... Scott needs to show investors that after 12 months in charge... he is the one that is capable of delivering and I'm afraid to say... unless he delivers a clear update and plan before the AGM in December, then he's likely toast. Every CEO has to be accountable but on a 1 year anniversary... he really needs to unveil the new plan and outline of the PFS and then by all means fine tune and beef numbers up or stress test for 3 months+ before delivering the final printed document to the market. But there's absolutely no need at all to go quiet and just say... plan is for update in Q1 24. He's either a bit thick or is indeed looking to get the boot so he can move out of Ecuador and back to Canada or Oz. Without his bonus shares one should add!
There's absolutely no way he or Bob or Maxit can go into that AGM without giving a sizable and 'good' update. They know that. And if they don't, they will find out the hard way.
Fort, did you mean company instead of country?
I have to agree with DM on this issue. Scott came on the scene, and made comments which raised expectations. It is therefore right that he is held accountable when he fails to live up to the expectations which he engendered.
Personally, I think he got a taste of the gravy in the trough and in his feeding frenzy, he lost sight of PIs.