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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!
Volume is your friend.
The sp moved from 15p levels to 19p levels based on high volume.
And then the fake move.... the price moves from 19p into 16's based on very low volume.
Volume is your friend !
Realistically the presentation will be uploaded AFTER Scott has gone through it at the investor meeting. I would not stress about it.
Rather, just fantasizing, I wander if the price is being walked down in preparation of the meeting, to later show a positive response to Scott's presentation. Just a fantasy out of boredom really, all mining is down and we are no exception.
GLA, let's hope today the dial gets moved a bit!
"The presentation material will also be available on the Company website on the day of the presentation"
Nothing yet...
ColonelDrake you must be joking if you think you are an experienced investor.
An experienced investor would be quite within their rights as a shareholder or employee to understand the cooperate strategy.
Only an inexperienced investor would pretend it was normal to say nothing.
I cannot think of any successful company, that refuses to tell it's share holders or employees what the strategy is.
That's a key requirement.
'they're' not 'their'. Can't believe I did that...must be my inexperience.
Fort, "the more experienced investor", that really made me laugh. And as for you "knowing what their up to"...you haven't got any more of an idea than anyone else. Everything is guesswork and supposition, which, someone with your experience should know.
Addicknt, no offence intended but the more experienced investors or II's know exactly what SOLG are up to. They don't need it spelling out. They also know that self imposed deadlines Maxwell be counter intuitive to the end goal.
It's pretty obvious that the outcome of the SR is based on the outcome of negotiations with various parties. Hence a monetisation event may well follow very swiftly after or not. The point being... you have to work with potential partners and buyers to some extent to find out what they want. Think of Alpala like like a very large house with lots of rooms. Do might have someone that wants to convert it into a hotel or someone that wants to convert into retirement home or someone that wants to turn it into flats or commercial offices etc etc. Many interested parties all have their potential profit/development ideas and most want to avoid risky events hence block cave is not something you just buy into without knowing everything about it. BHP, NCM and Newmont have advantage over Chinese (imho) in that they know block caving. Perhaps the Chinese would prefer to JV with BHP?? or Newmont?? Spread the risk and buy in the expertise? Loads of variables. But I'm afraid you'll just have to accept that you are not selling a bag of crisps at a petrol station here. It's complicated and it's going to cost billions to the tune of at least $5bln and that's before profits roll in. Big money. Big decisions.... all take time.
Good luck Red
Fort, it's not about self-imposed deadlines - although the end H1 was mentioned - it's about the fact that if you set a piece of work in motion which, by definition, is meant to be definitive, it can't just drag on and on and on. 12 months to examine and set a strategy is enough for any company, let alone one like this.
As it stands, and again by definition, we don't have a strategy. How can a company operate in a void like this?
Followed you in with just over 118k at c17.1p DBW...
I can't be the only one here that realises that keeping things fluid and open (without self imposed deadlines) gives the company more freedom on a number of fronts. If they say ... SR outcome by end of June etc then any buyer or partner or negotiator will simply drag things out.
Lets face it... if the Chinese know they can pick up another 4 to 5% of stock at 17p to 19p levels... why on earth would they be in any rush... unless of course SOLG have other players involved like Brazilian's or Canadian companies etc which begs the question .. was the news story a deliberate leak to jog things along?? Mmm.
I like others want this monetisation event. But setting self imposed deadlines that actually potentially deliver weakness only serves the likes of BHP and other predators. Not investors.
What I think most are disappointed by is the lack of exploration. Yes it costs about $500k per hole but that's surely a good investment while ENSA discussions continue. It's hardly going to break the bank if we drill 10 holes on a couple of nice regional targets.
So that's my gripe near term. Punters need some entertainment if the SR process is going to take 12months+.
Of course, permits and regional Ecuadorian issues may well be preventing a lot of exploration at present so there is that to balance out.
Sometimes things take longer than expected. That has no reflection on the asset quality at all. Some houses sell fast and the same houses can take months to sell if the market backdrop is not great.... ironically like it is now!
Yes, yes, yes….today could be THE turning point we’ve all been waiting for, life changing returns incoming, doubters destroyed, loyalties rewarded.
On the other hand………………………………..
30 mins of Scott talking about how efficient he is making Solgold… refusing to commit to timeframes for the strategic review and how great the guys are behind the scenes.. all working hard, together, to make great progress.. maybe he will give us an update on how many trees we have planted now… did we hit 1 million? Or did we fail to hit that target as well?
I didn't submit this question in advance, but given I think this will be an exercise in smoke and mirrors and deliver very little of substance, I'd be keen to ask: are we unlikely to see the outcome of the strategic review announced before you've finished negotiating the two agreements with the Ecuadorian govt (IPA and exploitation)?
That should tell us whether the strategic review was legitimate (and would be able to be announced w/o the above agreements), or, as others have suggested on here, it was a smokescreen to find a buyer for SOLG / Cascabel.
Fort, 12 months is more than long enough to produce something.
What is Redknight on about. Nothing to do with Brexit.
In case he hasn't noticed, thousands more jobs added to finance and we still are aligned with EU on finance.
We need to modernize in order to start being more competitive.
Also I suggest he looks at what Arm have said.
They would never have listed in any EU country.
So we can expect the SP to take a beating today at the mere mention of the term "First Mover Advantage" then?
Perhaps these new guys are like their predecessors, all wanting their turn at the trough before even attempting to pull their fingers out.
Yep, absolutely nothing of interest here.... unless you are chinese of course. Or a patient investor awaiting the SR outcome.