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Shipright
They are doing something as per the RNS, it’s all there if you care to have a read, atb
28 July 2022
SolGold plc
("SolGold" or the "Company")
Business Activity Update
The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to provide an update on the progress of activities within its exploration portfolio and the Cascabel project.
SolGold's regional exploration programme is focused on a number of highly prospective projects where extensive and systematic geological and geochemical field programmes are underway to rank the priority drill targets, notably at the Company's Porvenir and Helipuerto projects located in southern Ecuador.
Porvenir is the Company's second priority after Cascabel and SolGold has engaged M3 to progress the Porvenir project Pre-Economic Assessment ("PEA") that is on track for completion by year-end. Additionally, field programmes are continuing at numerous satellite targets to the Cacharposa deposit that comprises a Mineral Resource of 397Mt at 0.44% CuEq in the Indicated category and contained metal content of 1.40Mt Cu and 1.80Moz Au (1.75Mt CuEq). Cacharposa is the second Resource to be defined by SolGold as part of its strategy to define a multi project portfolio over the length of Ecuador.
Regional exploration activity has identified the Helipuerto project as the next most important target for the Company. The Helipuerto concessions lie on the southern margin of the Solaris Resources discovery at Warintza where Solaris has published an in-pit Mineral Resource of 579Mt at 0.59% CuEq in the Indicated category. Geophysical, geochemical and geological analysis indicates extension of the Warintza system into SolGold ground and SolGold is expediting the delivery of drilling and environmental permits to drill test extensions to the mineralised system. An initial focus at Helipuerto is on the delineation of the size and tenor of the Tinkimints copper prospect including mapping and sampling of the area directly south of Solaris's Warintza copper-gold porphyry deposit.
Am I right in saying the missing now $4.5m represents 25% of SOLG's cash ATM ? and it's a rising percentage.
It's when your are looking down the back of the sofa you wish you had been more careful with what you had.
I find it very unusual that $4.5m goes missing, it's reported once and nothing more is said by the company.
Is it under investigation ?
I wouldn't want to be out of this over the weekend...or the next week or so...
At this pri ce and with no news, it might go lower, but nobody much is selling...
Lets see...
Fort, it's important to focus on both parts of the narrative and I'd have thought my post was easy to understand - we have something incredibly valuable and yet this management team have succeeded in halving the value of the company. I'd have thought that was pretty clear.
Incidentally, there's nothing minor about the issues I mentioned - they've had enormous impact on market confidence. I believe in the future of this business, otherwise I'd have sold my large holding a long while ago, but I'm deeply disappointed with the performance of this team. The board of any company has one objective only, to deliver shareholder value, and thus far DC has failed miserably.
Explorer to developer.
We are supposed to be both and should still be exploring which we don't appear to be doing
addicknt, I and many other share your sentiment. Communication could have been better of late. Actually damn disappointing!
But still good to see that Fortissimo sees the bright side on the other side of the coin. LOL!
The perceived blackout of news must surely be broken within days?
We ARE a rare Tier ONE proven discovery that the world needs to see come onboard to fill the copper deficit!
addicknt
I'm not sure I understand your post? I know the sentiment but in theory the first part of your post is what you should be focussed on. The second part is just the product of a maturing company which is moving from explorer to a developer phase. Combine this with the usual pre bid tussle and quandary over how to get the piggy to market or over the line and that's basically why you have all this stuff. Darryl might not be cutting it at CEO level or on the PR but his CV outclasses the majority of the SOLG Board and past board members with exception to Mather. His credentials are the reason he's there. He's there to reassure potential funders / investment partners of the $3bln required that the project is doable and has been strongly tested. He's dealt with tier 1 projects. Majority of SOLG board have never been close to a tier 1 project.
You seem preoccupied with the minor stuff. That said, the CFO departure is not minor but that's perhaps the most telling of all the recent departures. What if she was brought in to get an IPO away but then that plan got canned by xy and z? Suddenly her expertise not required? Many reasons are not all have to be about turmoil. Many might be positive and you'll find out soon.
As for the share price.... how low can it go?? Markets are markets... they make no sense most of the time. I think the better question is... how LONG can the share price be kept low?? My guess is not long. Why? Because the company has major news coming up with Porvenir PEA and PFS2. The last time SOLG went into a PFS RNS, the sp was 40p and 36p on the day of the RNS. The PFS2 is expected to be better than the first PFS. So logic says the market will repeat itself?? Why wouldn't it? Nothings changed. And before someone says the market backdrop is poor now... well, just look at the FTSE100 benchmark. It's actually up (yes UP) on a year to year basis. Doom and gloom? You wouldn't know it looking at the main market index.
Morning Bublé
Whilst I can see that heading looks a bit squiffy - its in relation to Gina Rineheart & her co H-ck Recoursces
https://www.bloomberg.com/billionaires/profiles/georgina-h-rinehart/?leadSource=uverify%20wall
[when u type the full name - because it has Han[co-ck] contained within it then replaces the "offensive/NOT offensive" part with stars..........
Hope that explains........
https://www.bloomberg.com/billionaires/profiles/georgina-h-rinehart/?leadSource=uverify%20wall
r's
BN.c
ps cant stop around today
You won't get pinot or anyone posting information like that on a bb board imho
It was interesting to note how Biswas referred to Cascabel and his body language at that moment. It was obvious he thinks it's huge and is only likely to get much, much bigger. He also implied the whole mining community is aware of this and that it may well be the largest discovery in Ecuador, outshining anything else they currently have a share of.
Okay, we all know this, the competitors know it, the market knows it, and yet...
Against this backdrop how inept does a management team have to be to have presided over such a calamitous decline in value in the space of three months? What actually lies behind the departure of so many key staff? What actually happened when the company tried to raise money? What's happened in re the theft of $4.5m? Why are CGP so quiet? Who's actually running the show...NM or DC? When are they going to raise the necessary funding?
Sorry for the rant/ incoherent rambling, but this situation really does beggar belief.
Hi Pinot
Just copying ur previous post as know things have been disappearing mysteriously of late - whole threads.
pinotnoir
Posts: 4,519
Price: 17.44
No Opinion
RE: SolgToday 18:49
https://www.afr.com/companies/mining/rinehart-has-solgold-surrounded-on-three-sides-20180906-h1509s
Not sure this will work..
Pinot
Phil 123
Not sure where the irony is you're referring to - 4yr old article or not - it remains relevant today as much as it did in 2018 unless you're telling us that Gina has sold up all of her concessions held previously. Cannot say I ve seen or heard this news at any point over the last 4yrs - but if you have such references/evidence please do share ;o]
R's
BN.c
Hi Goldenegg
V long time no speak matey
Trust ur chipper me ol fruit.
Not really looked properly of late
I’d expected 20p to hold but with wider market pressures on stocks and in particular Junior Miners, and our lack of any significant good news, that level didn’t hold.
I have my holdings and tbh doubt I’ll add much more to the pot…….
If get chance I’ll see what things look like chartwise…….suffice to say we still remain on a bearish trajectory……..
Dunno if u have my contact details but if so drop me a line matey
Atvb
Bn.c
Hi phil12345.... No i wasn't the cadastre closed in 2018 when the article was written.
Pinot
:0)
This story is over 4 years old, hope your being ironic....
Hey BN.c how you doing?
Not been in touch with Elliott for a while so no idea where we are in terms of crests and troughs. Don't suppose you can see a tsunami on the horizon? If you spot one I would be pleased to be the first one to hear about it!
Take care and don't work too hard................
Rgds G.
https://www.afr.com/companies/mining/rinehart-has-solgold-surrounded-on-three-sides-20180906-h1509s
Not sure this will work..
Pinot
Red
Further more Gina's Han**** have several properties around Cascabel..........
R's
BN.c
Evening....the last i saw before the cadastre closed Gina Rhineheart surrounded us on 3 sides with Codelco sharing part of one side. I wouldn't count Han**** out.
I think she topped the Australian rich list this year.
Pinot
:0)
Where’s Fortissimo when you need him . He may have a different angle and his views always welcome
Good fit I think she is pretty close to the top of Australia’s Rich list ?
Fort
No they didnt mention GGP matey
bn.c
DBW you're a genius...that works for me...but you left out the wild card...
Gina Rinehart...
Just listened to it again.
Franco Nevada doesn't only do offtake agreements they also do loans and supply expertise to construct the mines that they have offtake deals with.
if the guy praises casabel, what's the helluva with the sp or with the whole monitization process?
Thats better. Thanks guys!