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Of the problems, that have been going on here for years, Looks like some Directors where happy to come along for the ride , doing very little, but picking up nice wage packets , in the hope???, that a takeover was inevitable,
Now it seems there is more work to do than sitting at your desk waiting for that inevitable phone call, !!!
The delays are inexcusable. I am leading, with the support of the Board, a swift reset in the organization with an emphasis on creating a performance-oriented culture with accountability to all stakeholders as a core principle
GLA LTH can 2023 really be the year off. Change??
Why would they not replace the CEO? I don't see how that changes the likelihood of a sale.
Not contradictory in the slightest Addicknt.
You know that a partial sale of Cascabel doesn't give the Exiteers their exit. It gives them a small special dividend at best.
The only true exit here is a sale lock stock and barrel for somewhere between 40-60p. Reading that update, I don't believe that to be happening, right now at least. If it is, we're being sneakily put away.
Bozi, your post appears to be contradictory. On the one hand you suggest it doesn't look good for us Exiteers, but on the other you say you think they'll look for a buyer for Cascabel.
Btw, I think you're third paragraph is a pretty good guess and would explain why a full time CFO is needed.
Monte - Scott is entitled to his opinion, as are you and I.
I showed you how investors could have secured a better return from the decisions the board took rather than a strategic review 5 years ago and you offered no suitable counter-point.
Scott knows he can't mince his words at this stage. Investors want heads on spikes and he knows he has to row with them, or a tleast chuck them a bone.
Comments of Chairman - "In my assessment, the weakness in the organization has for too long been a culture of non-performance in the corporate office." As I previously said - incompetent board of directors
organization has for too long been a culture of non-performance in the corporate office. at least his trying addressing the problems in the Company,
I've got to say, if I was pro a takeover I wouldn't be enthralled reading that update.
The company's workforce is being streamlined but a full time CFO is being sought. That suggests longer term planning than just the next 6-12 months.
If I had to nail Mt colours to the mast I think they're going to spin out the regionals and try and find a buyer for Cascabel. Failing that it will be the dreaded JV and on SolGold goes as a joint or minority partner.
I know it doesn't fit with the MO of the Cornerstone leadership but I'm sensing a change of direction fr them now. Interesting.
Looks like I was right about the board despite Bozi defending them.
Scott saying in corporate talk that they are basically taking the p#ss
Quady it clearly mentions that a sale of cascabel or a part of it is in the review
Agreed Quady, not the direction I want so I’ll have to take a bath on my holding today. Very disappointed with this, atb to those who choose to stay invested
Fort, I'm simply looking at what Vujcic said. "Cascabel has been adequately studied". I'm sure that wasn't just a throwaway comment. It means something.
Sure, money's going to be spent, but presumably that's about keeping a functional workforce? But I'm certainly open to any other interpretations of his observation.
addicknt... in the MD&A, ENSA had $11m to be spent on it through to July 31st. All studies and work was outlined there. So I think you're reading too much into that. $11m is low for ENSA spend so was telegraphed on 14th.
Good morning all.
It really couldn't be more simply laid out.
No more drilling at Cascabel our resource is mapped.
We have our PFS.
Maybe this means they are going straight to the BFS and side stepping the DFS or DFS is the next step.
Also we continue with the strategic review ( which the likes of Redknight and DBW Said would never happen ).
We are getting a new CFO, which again makes ridiculous the claims that we were not getting one because we were going to be sold.
So no sale and we are advancing Cascabel.
The only question that remains is how we are advancing Cascabel.
I like what I am hearing. Now walk the walk.
I'd get rid of the TSX listing. It's pointless and delivers nothing.
The problem for Scott is that he would have known that the financial results ending Dec 31st would need to be in the prospectus. Being realistic, getting accounts sorted can take up to 4 weeks especially when involving two companies. So the overrun would have taken us to end of Jan which is what was RNS'd. So FCA may have had issues with some of the numbers and as such they have had to resubmit which then goes to FCA again to approve. Basically... FCA putting SOLG through the mill and holding up SOLG's prospectus. Looks like it should be resolved in 2 weeks time. Apart from that... reducing cash burn is a no brainer... but why are they aiming to explore Australian assets if looking to focus staff in Ecuador?? Also... does this mean they are getting rid of Solomon Islands assets?? This all feels like a slimming down exercise to suit certain buyer?? Chinese already dictating what they would like?? Apart from that, looks like we are getting there but lack of CFO clearly being seen.
The Italian, no direct reference to value enhancing at Cascabel, which, when combined with Vujcic's comment, may suggest something.
Vujcic: "Cascabel has been adequately studied".
I wonder what this means? No more exploration work? No more work on the DFS? A very cryptic comment from the company.
Overall, the emphasis is quite clearly on cost saving and organizational restructuring whilst going flat-out to complete the SR. The comment about reducing the number of time zones is also interesting. Which office(s) are going to be cut?
Add, dont keep us guessing, what's been omitted?
See if you can spot what's been omitted from the section relating to the SR.
Elsewhere it's good to see costs are being cut and an admission that the head office has been dysfunctional for a long time. Some honesty at last!
Our new leaders are tackling the situation with enthusiasm and direction.
Sorreeeeee!
Must do better.....just need a bit more time.
Yikes!
top engineer , it has been noticed
Love him/her
just check my post history , especially 5/2/231 and 15/1/21. I Dion't talk sah8t .
In the buffoon saloon?
Anyone with one ounce of ounce will give an answer given the Carp we have all endured for the past 3 to 4 years.
Who has any idea on the timescale , or more importantly the takeout price?
Have you all simply morphed into the same old voice ?
It would seem so with the pathetic amount of posts , and the pathetic content just lately..