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Bozi, I think we need a team who recognise reality and set about maximising value via monetization. As far as we're currently aware, the incumbents show no signs of understanding this. The strategy appears to be; carry on pushing ahead with something that won't happen and which the market very obviously doesn't have any faith in, and let's see if someone has a pop. In their shoes I'd be discreetly sounding out the obvious suitors in an attempt to get some competitive tension going.
Putting that issue to one side, the past year cannot, under any circumstances, be seen as a success. In fact, the past two or three years have been pretty awful.
On what basis Addicknt?
If this team can't produce a robust PFS for Cascabel, what gives you the impression somebody else will?
After all we are dealing with the same resource, the same assumptions and the same third party consultants.
Further, what gives you the impression another team will be able to work better with BHP/NCM and deliver at least the return that the current one will?
It hasn't passed me by that no team may be able to give me the return that I want. That's a very realistic possibility, but I'm also struggling to appreciate what new directors will do that this lot aren't.
Bozi, absolutely I understand your argument, but I'm just not sure the current team is capable of delivering what you want.
Addicknt - I'm simply challenging the notion that exists that by denying re-election of our current board members that we are giving ourselves the best opportunity for an improvement in company share price performance.
As someone who understands the dynamic of a major miner wading into a significant discovery made by a fledgling junior surely you can see the angle I'm coming from?
Addicknt - do not disagree with the first half of your post.
As for the second half, of course I'm a participant for the financial betterment of myself, my family etc but the stark difference remains that I'm not hell bent on seeing a return quickly if it is to the detriment of a better return down the line. That's all I'm getting at. I don't see why it gets dragged out of context. I haven't hidden this view at all.
Smickster hopefully a bit sooner
I think Moller has played a blinder.
He clearly knows what's he's doing as they have got the right man in to steer solg onto great things and ot just rushed into getting the first man that comes along.
Also the sp is up almost 5% so he must be doing something great.
Well done Nick, Moller and the rest of the team.
Onwards and upwards.
Looking forward to some news 9ver the next 10 days.
He's also got senior experience in Contracting colonel and God knows we're going to need a load of them to build this mine...
Yes Add let's line our pockets and stop Bhp trying to reduce our payday.
Bozi, regardless of who was on our share register, the management was always destined to be on the 'defensive', as you put it. A small and insignificant explorer doesn't make a discovery of this magnitude without attracting the attention of companies which have the where-with-all to fully exploit the assets. If it wasn't BHP, it'd be someone else.
The key question about this team is, can they deliver a good deal to shareholders? I'm afraid I see no evidence to the effect they can.
Btw, interesting comment about people wanting to 'line their own pockets'. Just out of interest, what other reason is there to take risks in the stock market?
Bozi, it's always been about keeping it an Aussie affair hasn't it??
We've seen how childish NCM can act and be. I think NM seems similar. BHP look like following that mould. So I'm not that hopeful of Darryl. Lets hope he's an Aussie that doesn't suffer ego issues if that's at all possible!! Too many Aussies full stop. Get some other non Aussie talent in there and it's possible to follow the Rio Tinto mould.
Not going happen though. If we had a vote on voting anyone that is an Aussie off... how many would be left??
We are TheSlug and I get that, and respect it even if it comes across to the contrary sometimes.
I'm just of the view that our major shareholders have set this up to a tee over the last 4 or 5 years and as less powerful investors, we need to remember than it's not always about 'Moller being politically aligned with Nick' or 'Twigger firing cheap shots' as RK1 put it earlier.
There's always more than meets the eye than that which we have deduced through our own speculation and investigation and it boils down to one question...
Do I think this management team is sub par or useless?
The answer is a resounding no. A much smaller management team consisting of some of these heads discovered and delineated Alpala and have grabbed more ground to repeat the trick, laying the foundations for a very large junior explorer.
That management team has then been bolstered with good experienced people.
So, in my view, this management team looks worse than it is due to defensive actions it is having to take. They'll be fully aware the optics are shocking I suspect.
Bozi - yeah I get what you mean, I was simply pointing out we're all here to make cash. I guess we have our strategies, but like many I am weary and favour an early and decent conclusion over a long drawn out but better conclusion.
Maybe we get the option of both in the event of a sale or JV of Ensa for example?
This is unfortunately going for a song and the voting intentions of SOLG shareholders in a fortnight's time will be the skier at the top of the mountain run.
2022 will see he/her slalom their way down at speed.
Red, here are the facts
You constantly try to put me down saying I'm impatient or only reading half the facts.
Your are not much different from Quady in this respect and imo it lacks class and real belief in your own views to try and discredit me this way.
As for your facts I read them all and quite frankly they are laughable.
You blame the old guard for sp decline so when it rose was that not their good work?
I suppose it was there fault covid and the Botswana strain arrived too...
No exactly, but it's equally ridiculous statement.
I'm not dissing your view just your constant will to try and make people follow you because you believe you are only voice that matters.
And for the record I'm not stating the current board is doing a fantastic job just that I don't believe weakening Nicks hand is in my best interest.
It probably won't pan out this way( like last year) but I'd prefer things to stay the same way and Bhp bite the bullet and buy us out in the next 6 months after a steady in flux of news including pfs,dfs for alpala and more mre news for regional.
The Slug - thought you were more nuanced than that I have to say.
Personally, my mo is to give the company the best opportunity to succeed. If it happens within the timeframe I need it, great.
I won't make decisions that harms the company just because I'd like a quick trade. I mean if the opportunity arises during the normal course of events then absolutely fantastic, but if not....
I'm aware of Olympic Dam, CD.
I think it's fairer to say that Mather's skill sets and Cazzubbo's are in different areas. Cazzubbo clearly leads in the project development and management stakes.
Bozi...." You look at the political landscape in the UK for example and that shows that enough people are only thinking about their own pockets "
Well what else do you invest for? Everyone else's pockets?!
Do some research into Olympic damn project. He's a megastar compared to NM and co. You need people at the top with experience in development of Tier 1 projects. If you want smelters or Franco style $1bln investments then they need to know that experts are at the helm not some AIM style wannabees!
BHP owe Darryl a new project after they practically canned the OD expansion last year.
*produce facts (4th para)
You haven't Redknight1.
You factually stated Moller's remuneration.
You then stated he didn't deserve it. That's an opinion.
I don't need to produce to support our board selections and neither do you for what it's worth. We're voting on who we think will achieve the best result for SolGold investors in the future based on our interpretation of events to come.
I am however saying that if you are portraying yourself as a relayer of factual information, please ensure that information is 100% factual and not laced with your opinions. Thanks.
BHP, CGP and NCM will decide whether these 4 directors remain imho. If they get voted back on then I think we can safely say that Darryl is BHP/NCM's man and SOLG have to have cut off one major limb to enable some means of temporary escape from the ever increases clutches of the bigger wallet boys.
So my view is ... if Darryl is BHP's man, then SOLG will retain some (prob 3 of the directors). If Darryl is not BHP's man then we'll see all 4 go.
Pi's vote matters but as witnessed from last years events it was so close with pi's voting to save NM that this year looks a shoe in for BHP and co as there's no way pi's are voting in force to retain these guys this year.
The good news in this is that the writing looks on the wall and SOLG will be going to BHP. The bad news in this is that it could mean an auction process is not likely to happen which was and is BHP's biggest fear as witnessed by the Noront debacle.
Less then 10 trading days left for SOLG to get some news out that might get them some votes. The fact we haven't had the usual open begging letter suggests the above might be true? Darryl is BHP's man. But can one man instigate change or is it just about having someone in there that is always at the top level meetings... eg finance and so on?
I have put forward reams of FACTS to support my positions, ESPECIALLY on why Moller should go...
Its not my fault you're too impatient to read them...
If you'd like me to restate them, please ask...
And also post the FACTS that support your case to maintain BM and LT...only seen opinions so far...
smickster....you don't get it...whether he stays or goes there will need to be an equity dilution as part of the Alpala funding...
Do you think banks are charities...?
I find it truly staggering that so many SolGold investors, with experienced and knowledgeable people amongst the group, think it is in everyone's best interests to remove 4 members of the current BoD now.
We can surely all admit that we are potentially approaching the time where there's the highest risk that we are predated? If so, what do you think we have to gain by sacking the Chairman of the board?!
I shouldn't really be surprised. You look at the political landscape in the UK for example and that shows that enough people are only thinking about their own pockets or simply have sawdust between their ears.
There also seems to be the held view that a new board gives us a clean start and a fresh route to upside. Be very careful with that. It's very clearly a coin with two sides.
A final point, I'm across a few different SOLG investor channels and I've never seen Darryl Cazzubbo referred to as a megastar. I'd love to know the source for that, particularly bearing in mind that the great, illustrious, noble, mining behemoth that is Warren Irwin had never heard of him until after the SOLG news release!