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And STILL no presentation!
DM/addicknt...there will never be a SR conclusion published...
The plan has always been to sell SOLG or sell Cascabel and/or other bits...
Scott also referred to the diverse book, by calling it diverse holdings in Solgold and BHP's position.
So many people on this forum still don't get the this is the number one item, that is stopping a hostile bid.
What a load of infesting multi alias Blackrock stooges weve become. My goodness were starting to make needalife look like a ramper.
Speaking of needalife. He said he takes no pleasure in being shown to be just a bit smarter than the gang. And he takes no pleasure in being proved daily, he was correct to voice his concerns.
He said he was just surprised it has taken so long for the armchair experts, who have so many opinions, to finally get the message.
But he has magnanimously said no apologies needed
Woody, I agree, although it's disappointing that the SR is taking so long to deliver any tangible results.
Heck, that was disappointing! Just old news, why did he waste his time like that, why not just a RNS?
Anyway, just got to believe they are not just twiddling their thumbs and things are moving forward. Being a sale or developing a mine with somebody else. Because clearly they are hanging on to their pennies, ha, ha!
I was pleased with that overall. No bombshells and on the positive side:
Cash for a year provided there is no exploration.
SG has had good relations with all previous governments and expect this to continue with future ones.
SC has a lot of skin in this and seems very confortable living in Ecuador.
There is definitely an active data room.
There are a number of NDAs with various parties who have access to the data room – that must be third parties who therefore have access to confidential sensitive business information. This is excellent to hear categorically and well done to our man who gave those on this BB his brief on this a few weeks back.
This is conjecture but it seems Jiangxi are in the data room, he was very careful when answering about them.
Solgold are mine finders not builders. Solgold is not going to mine Cascabel.
It is as plain as a pike staff this is going to be sold.
Overall very positive in my view.
DM - it was dismal... I was expecting him to say that they have agreed a multi billion dollar deal with the chinese and pay day is coming very soon.
But he didn't. I'm now off to sell all my shares an invest it in some half baked AIM penny share in hope I can double my money in 4 hours.
Sarcasm aside, I think the highlight is not in this Q&A presentation, the highlight is in the Chinese buying more in open market. That tells me more than anything Scott 'can' say based on a NON RNS'd presentation.
China is moving toward a growth plan and stimulus planned could see copper in fast demand which in turn will focus minds back to the supply deficit which the market conveniently wants to ignore right now as adds to inflation woes. The reality is, sometimes 'fast and smart' becomes.... 'tread water and bide ones time' as the market will be a much better place in H2 than in H1.
Now... must dash... I need to go and post on a stock that I'm not invested in. lol!
This is a now a share to be traded for the foreseeable… not sat on like a rotten egg
Ortherncopper, you better tell the chinese about your concerns as they don't seem to be buying your negativity.
He said we are mine finders not mine builder's.
But then went onto say as part of the strategic review, if someone was to put up a sum of money, as a JV then that's an option.
The strategic review is clearly a very convenient mechanism for management to hide behind when nothing is happening…. It’s very convenient to be able to say ‘I cant comment as it’s part of the strategic review…’ and it’s very convenient to not have to explain to investors a total lack of any progress….
So in other words this SR is just standard management of any company looking at opportunities and risk.
Only take away is there are people in the data room and that’s it.
Magoo… that’s because we are not exploring anything… we have funds as long as we do nothing…
No funding needed at least for the next 12 months. Good to know
Total waste of time… Scott is just fluffing out generic crap everyone has heard a hundred times before.. Standard Solgold, different CEO… same result…
Based upon the comments just then RE strategic review - that it includes internally reviewing other prospects such as Porvenir, and has no fixed end date - it becomes devoid of any meaning, and is basically a smokescreen for the company to muddle through without a clear strategy.
Very very clear. Solgold will not be mining Cascabel. We are trying to maximise our economic value for a sale to a larger more able Mining conglomerate.
I have just asked this:
"Why does the company think it can improve on PFS - especially given that the PFS was put out to industry experts. Does Solgold have in house expertise to optimize - given that so many of the staff have now departed?"
Ouch, this is such an own goal, dull, uninformative, and utyerly pointless....
Presentation nearly over. Time for the Q&A now but quite underwhelming so far
The renegotiation of the IPA will involve a significant write down (approx $145m) of the financial commitment SOLG made, which was due to be spent by end '24. How SOLG go about justifying this and convincing the govt that SOLG are the best company to move this forward will be key. The company does not appear to be negotiating from a position of strength.
This presentation has been poor at best. Perhaps the Q&A will liven things up.
I don't know whether to laugh or cry!
Anyway, he has repeated that we are mine finders, not builders.
Jeez…. Scott has gone as dull as Mather
So nothing new, what a surprise.
Hope the q&a shed some light but I doubt it.
Fast and smart? Jezz!