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Smickster, I think you will find us shareholders in bhp, more than satisfied with the bhp board. I just received my dividend of almost $1 a share. I think that shows they know what they're doing. Can you show mw the link where it shows the Chinese are about to buy us.
I'm afraid the likes of the clown who posted that no news from solg is excellent news. As it means solg is about to be sold, just excites the likes of you and the masses. But actually always amounts to S F A
Welcome back DG1, you had a personality transplant whist you've been away as reading you posts this evening was an absolute pleasure, didn't agree 100% but none the less all constructive.
I'd hoped for a swifter resolution to all things solg like yourself and many others, but the reality is that time plays a big part in any deal, and every second must feel like an hour to Bob, Mather and all the other players who want to move on as much as we do.
For so many reasons this will get sold, split up and sold, or whatever flavour of corporate action we end up with, but it's coming and the hardest thing to do right now is nothing. It's frustrating, but the asset is too good and potentially too important to too many potential suitors, so it's just question of checking for an RNS, the forget about till 7 am the next morning. See yo at 7. All the best. C
We just don't know which of the SR options are truly on the table though Add.
PIs have a clear preference and I'd imagine Bob and Maxit do too.
It's one of those that if a JV of Cascabel was announced for example I'd be fairly sure what the reaction would be...
DG1, not sure about the 'binary scenario'. I think I'd suggest the parameters of the SR were specifically set to avoid it being described as binary.
Good post, tldr. A bearish factoid this week was Ravishing Rick Rule's grim, but speculative timeline.
Who TF knows?
Looks like Bobs baseball hasn’t swung quite as fast as we’d have all hoped for. I have no idea what the hold up is and would only be guessing. Let’s hope it’s just a delay due to them maybe wanting more assurance from Ecuador govt - only my view but due-dil on the blockcave should be done by now as they would have done some of that prior to their investment surely !
Obviously they have to settle on a price that gets Mather and his old pals vote - as I’d expect any bid to be approved rather than speculative.
I’ve long since held the view that BHP have lost interest but hope to be proved wrong - could see them come in with a bid especially if Jiangxi open low, I’m praying there may be other interested parties but that would just be speculation
You mention no exodus of investors, it’s my belief a good few PI’s have moved on or at least significantly sold down. As for institutions BHP / Newcrest etc in fact anyone with large holdings would struggle to exit without crashing the price, and they can bide their time as it’s a drop in the ocean to most of them - BHP could write their entire investment off from just a few days company wide profits, of course none will want to do that but my point is it’s not such a big deal for them.
Jiangxi are in at 17p (from memory) so if we tumble from here it’s no big deal for them - they could just buy more to lower their average or offer a lower price in the future if things become desperate …..hence the need to lower costs to last longer maybe ?
Warren Irwin has mentioned that the Chinese buying assets in the west is becoming harder so hopefully grabbing an asset like Cascabel will be appealing and maybe give some impetus to get it done - however doesn’t look or feel like they are rushing right now
I’m sure as time ticks by and things become more strained that tensions here will become more tested, but with SOLG without much of a plan B, sale not happening as quickly as we hoped for and SOLG going down the minimal comms route - only news that has happened will be RNS’d and because I don’t think they are doing much there won’t be much happening to RNS all we are left with is the hope that Cascabel gets sold
Shame they created such a binary scenario - my hunch is they thought Bob would hit a home run rather swiftly - seems like the Jiangxi pitchers may have thrown a few swerve balls
Just have to hope that deal lands
DG I,don't disagree with you there
Dg1 none of this i disagree with yet here we are waiting for Bob's baseball bat and he super speed to get something across the line and it looks as of more broke promises.
Yet with all that aside we don't seem to have an exodus of shareholders on any level.
Now that's strange I itself, don't you think?
Well you seem like a decent person Dg1 so good luck to you.
Smickster - I hadn’t meant to call you Snicker that was an auto correct error - my apologies
Also I made no reference to your intelligence - I’m sure your a great guy why would I think any differently - i don’t know you
Earthling was invested - i have no idea if he is anymore - Bozi most certainly is invested - so unfortunately on this occasion I know for a fact your call/opinion is wrong - however I’m not here to argue that or correct - your opinion is your opinion
Your right though SOLG have left us guessing
I know why
Because they have decided from here on out only to report on things as they happen / they are trying to move away from broken promises
Problem is - it’s too late as very few trust them anymore and very few if any will want to be on a long term journey with them (Quady might though) so trying to regain credibility is a bit late in the day now
Solg are doing sod all drilling / continue sacking people / and have a plan to conserve cash to last longer / like us they are praying Bob Sangha can get us a deal
That’s it in a nut shell
Dog1 all due respect buddy my opinion is as good as the next even if I'm not hyper intelligent as your fellow zoom friends.
My opinion is that they are not invested and they are here solely to disturb the board with earthling being the worst offender.
With lack of news opinions are we have left and to read between the fairy faint lines drawn by solg.
Snicker - Bozi is invested here and has been for yrs and yrs - he’s as genuine as they come, intelligent thoughtful and well educated - just because he may point on some negatives or concerns or challenges some of the Rar Rar Rar we get on here doesn’t mean he isn’t genuine …..he’s also die hard Man U not Tottenham as I think you guessed at
And in addition there have been genuinely invested people on this board over the years - Earthling is one - derided by many but he was invested. As were others too who pointed out some of their concerns but were hit by barrages of knock backs - from all of us and me too …….maybe better we listen in future rather than jump to defend what has turned out to be a pretty poor all round company performance
How do I know they are genuine - cos I’ve spoken to them / had zoom calls and even met with some of them face to face
Let’s all not be so quick to judge anyone on here - as differing opinions make the world go round
In the best possible taste - ‘at least they are all getting old’
As are a good few of us here too with our never ending wait
Cauldwell must be getting near to 70 now - mid 60’s easily - apparently a wealthy man who has bought 20m shares and has 30m more given to him (options based on SP) …he’s surely not gonna want to spend the last of his days sacking 20 something Ecuadorians - and pretending to feign interest in rock samples …granted maybe he’s escaping the wife for a bit but one would think he’d want to cash in sooner rather than later to spend some of his millions on luxury rather than holed up in Ecuador
Same for Mather although he’s a tad younger - do they really want to start exploration again - it’s taken 7 yrs for us to get to a poorly received PFS …..if that was repeated on another find most of our board will be in care homes by the time of the next PFS dribbling down their shirts and waving their ‘SOLG is very undervalued’ flags’
Make no mistake we are up for sale - when Maxit / Sangha etc we’re all buying more shares last year do you think they were buying them as a long term investment - not a chance - remember they hate Mather and just want out of this share like many others - but they sniffed an opportunity - SOLG was going nowhere under Cuzzubo really feel sorry for that chap well out of his depth
They brokered the merger so they could sell Cascabel and get an exit - they are still trying to sell it - maybe the sticking point is price maybe it’s extra due-dil being a block cave , maybe it’s needing more political assurance ….none of us know
My bet is the deal was let’s sell Cascabel and Nick you can keep on plodding with other tennaments if you fancy it - but we want our money out to invest elsewhere……(but like me and most I’d assume)
So thankfully they are all getting older now and just maybe the charade can soon end - I’d take 40p and run to the hills to escape the solgold broken promises the missed timescales - the dilution the endless rotation of Mgt - the lack of progress - the lies (French translation) - the disappointment - the wasted money and utter mistrust I have in the whole damn lot of them.
There is no end to this Strategic Review - no revealing report will come out - no future plan - it’s just a review of what can they sell and to who and for how much
As others have said it’s glory or bust now - well bust will be sitting here in yrs and yrs to come praying for salvation
Bubble forget £1.32 mate
These guys will be buying yachts and spraying champagne at 60p with their options and shareholdings - luckily for me they want out just as much as I do
Only question is how do they get Jiangxi to bid
Jiangxi are no fools
NAL if bhp look at us l, a whole undiscovered part of the richest mineral lands known to man and don't want a pice of that action then I'm afraid they have probably got a bit of explaining to do to there shareholders when the Chinese pick it up.
Of course maybe they want a pay day like us when it's sold.
My hunch is they still want it for peanuts and who knows maybe that's exactly what they will get.
The big questions is why you have to use 40 different aliases to talk this down when you are invested here?
It obviously pays well for you.
Bozi you have no idea if you don't understand keeping the missis happy is the route a happy life even if it means carrying out a few chores along the way.
I wish you well.
Darren,am looking to exit next couple of weeks if we don't get any news imho ,I've long said £1.32 but sadly the way it's being run can't see anywhere near that now I've got better shares to be in ATM but will hold out for a bit yet
The Italian IMO is always well rounded and with good points on this and other bbs. But that is my concern, what are we getting done ? In your words
DK
Yes DK, agree.
But to be fair to The Italian, he makes some fair points. There should be an objective to get the company streamlined and in a position to perform optimally for whatever might come from the strategic review, but at the same time don't forget the day to day of the business.
That's my concern really. We obviously need to make funds last as long as we can but there's a balance to be struck with getting stuff done.
Bozi I concur, but still frustrating, no ?
DK
Guys (or ladies...),
A lot of the relevant information has in fact been provided. Following the CGP overhaul, the company and the CEO in various interviews you have all seen, has started a process to streamline the entire operation. For those of you who have worked in corporations, especially in senior positions, you know it does take a lot of time to unwind offices, reduce headcount, re-focus the strategy around priorities and re-align the resources and the people around the new priorities. It's a matter of months, not days or weeks, and you don't RNS every other day.
Since they want to sell the company (plan A), they need to deliver a company that is not going to give the buyer a headache, and that requires some good house cleaning from the way Scott described.
So stop worrying, this is the not what we need to worry about. The real obstacles to our riches are the nature of the resource and the mining techniques that are required for extraction, the country risk, the spin-off strategy that needs to be worked out for the non Cascabel resources, the greed of both sides on the negotiation table...
GLA
Hello bubble. I have always liked your optimism for many years of being involved in this share , but when do you really think there may be a decent exit?
DK
On your shares, definitely contact your broker about that pronto.
As part of the merger, when your CGP shares were removed you should have been allocated 15 SOLG shares for every 1 CGP.
Darren - it's frustrating, particularly given we have a suite of regional assets that look promising. Porvenir showed what they can hold and even if there isn't another tier 1 amongst them - which seems hard to believe given how Ecuador has been under-explored and the trend of mines and deposits along the Andean belt - it stands to reason that we could have 2/3/4 licence areas that contain assets that should be profitable and sought after in a copper deficit.
But what is the plan in terms of sorting through them further and giving back any areas that don't stack up? The company talked some time about rationalising the regionals and it did give some back but then we've had no real updates since.
I get the reducing of the headcount. It's not nice to see 300 people lose their jobs but we clearly got ahead of ourselves. You could expect to see 900 workers manning an actual mine 24/7 but is it viable for a company relying solely on capital markets? No.
Cascabel is obviously the flagship and should have the most resource but then have a smaller regional team that spends say 2/3 months at a time at a project area, getting around 4/6 projects a year.
This is why we need a proper company update. There's no real care for the story any more. Holding these shares comes down to one question - is it getting taken over - and that's why Sharket Mare is spot on when speaking of this as a binary play. It has become more binary that it should have and that's because the market has switched off to the Cascabel and regional story.
Time for Scott to relight that fire IMO. The SP won't gather momentum without it.
Darren,I feel you pain here
Very frustrating share this one. An exploration company not exploring, I just dont get it??
Last count a cut down workforce to about 600 from 900?
WTF are they doing!!
Lack of clear comms is abysmal!!
Sorry a bit negative but thats how I feel atm
GLA
DK
Morning all. I had shares in Cornerstone which supposedely were to be converted to Solg as part of the merger. As of now that hasnt happened and my Cornerstone shares have dissappeared from my PF !? Is anyone else in same, similar situation? Whats happening? Appreciate in anticipation.
GLA
DK