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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.
Quite a bit has changed and I think you are being a tad childish about you mission to hammer into Scott. One example is that the IR director paid a whopping ÂŁ400k or something got rightfully booted along with a load of other time wasters and nice little salary takers along the way.
Scott is a mixed bag as far as I'm concerned. He's done some things right and I am pleased with those and he's also done somethings wrong. But hey... we are not all perfect are we?? Lets face it... the country had an utter baffoon leading the country for years telling porkies and lies every other day but looks of it.
Anyway... you are right to hold Scott to account for every missed deadline but as I said... I don't think the MD&A deadline has been missed yet. It's end of the month.
DM, not that I am one to support Scott by any means as think he's (or SOLG as whole) have under performed when it comes to communicating with shareholders... but... accounst are not always something the CEO can control. It's the auditors and advisors that have to approve it. So if they might have said 26th to Scott only then to say... erm no.. we need to tweak some words etc etc so now likley 29th or something like that.
I know you are keen to hold Scott to account but don't think this MD&A 26th stuff is worthy of such intense consideration by yourself.
It will come before end of the week. So chill.
Trying to find …… just remember that date being mentioned.
I thought sc said 25th but historically it's the29th.
Rns can come any time of day
Hey DM
Scott said 26th on the Denver presentation
Not Solgold related, but a parallel topic to mining a large undeveloped mine in a high risk jurisdiction, and a note about external interest from Saudi Arabia, it may make Ecuador a lower risk country, worth reading over a coffee, while we wait
https://www.ft.com/content/7a1db3cf-a61b-4ef5-b90d-ea98fe530295
https://tinyurl.com/mu2btbku
"I would not be surprised to see the hand break released and the SP organically heads back to 40p before any majors news.
There would be fewer competing bids if they were to present 60p/80p takeover. Someone remind me what the SP was when BHP arrived...
Completely delusional.
Yet another posting the same tireless message day in day out, year after year after year after year.
At least it's more realistic than the ÂŁ4 or ÂŁ5 he was forecasting 5 years ago.
Board full of delusional clowns repeat posting the same wishfull thinking, covering the same subjects, day after day after day after day.
October will be a rise
Hi Brad
Can’t argue the share price ain’t great.
Genuinely if I thought the share price was going to 9p I’d sell at 13p ….. ?
They must have something pretty decent up their sleeves to think they will be forgiven for treating shareholders this way.
This keeps going the way it is it will be 9p by the end of the week.
I'm with Green Day on this one.
"Wake me up when September ends..."
Do they*
Fort in August: "So disappointing to see the momentum lost but it will build again once market returns to proper trading 3rd week of Sept"
Fort in September: "usual end of the month weakness for equities as a whole but September notorious for it"
Given you write off all of summer and now September, can you let us know which months are actually positive for equities? Does they follow the same rules as oysters?
BBG, usual end of the month weakness for equities as a whole but September notorious for it due to end of the Q period too. Q4 starts next week and Scott and SOLG have roughly 10 weeks to pull something out of the bag or else I think the AGM will be very difficult for Scott and co. A full year is more than enough to draft up a revised PFS. Even if there are some finer details that need that famous optimisation analysis, they can still give us the main PFS plan and numbers of significance can follow in Q1. News on exploration plans also needs to be telegraphed even if that means they say nothing until after Q1 2024.
I think Scott will be down by 30% votes before AGM starts and that's without PI's even bothering. I can't see him getting more than Mather did last time around so that would make his position untenable. No big deal for Maxit and Bob and they will just stick another stooge in there while they spend another 6 months apparently looking for a new CEO LOL! By then I imagine things will be moving in right direction.
Tick tock.
Not at all, Add. It's your field and it's good to be able to get a trusted view of how the process would work.
My assumption was simply based on how the two firms were viewed prior to the news of the merger and SR. Citi were considered in the box seat and Maxit were the plucky backbenchers who had helped with the Newcrest proposal and since had connections with CGP following the whole share swap charade involving Warren (and possibly Bob too).
I do think attitudes have changed a little bit and Maxit have engineered themselves to the fore. They probably deserve credit for that and maybe I'm not giving it them.
Your overall point is correct though. It doesn't really matter as long as they deliver.
I thought it a good conversation worth having - thanks for not completely dismmising me, and thanks to SM for the article he shared. It's just something a little different in a time where some are tired of samey discussions.
Bozi, you speculated that I may prefer Citi to be in the driving seat - I really wouldn't.
This is how these things often go.
If approached by a potential client the investment bank will put its team together to create a pitch document which it will present to the client. The presentation will be led by the senior man who will do most of the talking. The problem which may then arise with the large investment banks is that once they've won the pitch, the top man recedes into the background and the number two will run the transaction. The boss only emerges towards the end of the process, or if the solids hit the fan, to ensure everything is as it should be and to collect the accolades. This doesn't happen with a small boutique, where the boss will be very hands on throughout. This explains how boutiques came to thrive, as the clients came to realise they weren't getting what they thought they were paying for i.e 24 hour a day access to the boss.
It used to be the case that blue chips would always take the 'IBM option' and select one of the main merchant/investment banks - that has all changed.
I apologise if I'm teaching granny to suck eggs, as I suspect I may be.
I'm pleased we've got both firms on our side and don't care which of them brings someone to the table, but my money is on Sangha winning.