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Oh dear Zoros, what are you worried about.
You have always maintained that Solgold is bluffing and will never be advanced the money to construct Alpala.
If you are right we will be sold below market price. Which seems to be something you want.
However if the BOD is correct, we are going to build this.
As for dilution, you really don't understand what getting staged funding is all about, especially if we get an open pit starting position.
Zoro,
I hope Mather reads this board, what you wrote is not clever at all, what ever you think of him, Solgold would not be where it is in Ecuador without his knowledge or his commitments.
Too many ready to sh*t on people who have brought it this far, hope the man makes silly money from Solgold, wish him well personally
Sean - let's hope you are right, otherwise this company is being rap ed in slow motion by the directors.....
I see NM is taking up his DGR options at more than market price, currently....must know something?
Or maybe he is preparing to bail out before EY gets to the bottom of where the $4.6m was stolen...... ON HIS WATCH!
He is one slime ball. Hand in the till right to the end.
Please please buy Cascabel out and be done with.
Z
That is indeed the alternative future to a bid Zoros. Not looking good at all if we are not taken over by the autumn. But I still firmly believe a bid is coming, and my money is still on this month rather than July or August.
What a gravy train eh?
Getting their salaries topped up, options delivered - all before they deliver their debt plan which will probably include dilution.
10+ years of being paid to deliver,,,,,,,,er,,,,,,,sod all.
So now we know why its an EGM after all.
Z
Excellent insight and explanation RK1! Thanks!
Gives us confidence that this sp will rise substantially in the near future from our undervalued present 32p
Only need 50% DBW. The Soecial Resolution related to the Articles of Association needs 75%, so I believe all resolutions will pass...
For starters Marher controls 12.86%. I'm sure Norges Bank and BlackRock would vote in favour as the Remuneration Policy is in line with best business practice and the proposals seem uncontentious to me....
So a half decent bid in the next 12 months & the directors are rolling in it? ??
Thanks RK for the insight …… what is the latest point at which any items could be added to the agenda …… ?
Think you’re spot on re the timing ( end of financial year) ….. all coming together and still Irwin remains silent .
If they get the 75% required to get these resolutions through title looks like BHP / NCM must also be onside
Red, excellent summary there hoping for £1:32
Redknight1 - thanks for the RNS summary - much appreciated. Bodes well !
AtB
The business of the meeting is largely for the following purposes.
Establish a new Remuneration Policy for all Directors and Executives.
Complete the tidy up of Corporate Governance in keeping with current best practice.
There is a lot of detail, but to simplify...
It included significant improvements in cash remuneration which will be based on an uplifted base salary and potentially generous bonuses based on KPIs.
The STIP (short term incentive plan) provides for the payment of salary bonuses based on KPIs related to budgeted performance for the year.
The LTIP (long term) provides for largely share based bonuses based on KPIs including targeted share price..
(Hooray)
It provides for either or both Options and Bonus Shares to be issued, based on the performance for the immediately ended financial period.
There is provision for Options up t 82,875,000 at an exercise price of 56p.
(Hooray).
And guess what...that seems reasonable as it provides a real incentive and is priced at 2x28p....
Now here is the key point...
The options can be issued based on achievement of KPIs in the immediately finished period...
And the current year finishes on....30 June....
Surprise..?!
In other words if all the resolutions are passed, Options could in theory be issued on 1 July (or as soon as audited results are available...)
Now this seems good news for us because...
The company clearly believes 56p is achievable otherwise the plan is a nonsense.
And...this throws down a further gauntlet to prospective bidders, but...
Itn conclusion, it provides for uplifted Exec salaries with 3/4 of potential salary based totally on company KPIs and...
Options for share price related achievement at a price which gives us a clear vision of prospective SP performance even without a bid......
Hope this helps but I'm sure cleverer people than me will augment...
Cheers
And that we are one of two platinum sponsors of the event …… Newcrest only managed Gold sponsor lol
Interesting to see we are represented by Santiago Vaca ….. chief geologist Ecuador
Orthern ….. Peru is a basket case at the moment
Mathers ….. well said
See you all in the AM
Orthern,
That’s the trouble these days, so many struggle to understand that if they want jobs, better wages, better living conditions which will only come when companies start to set up and begin investing in their communities, which in turn give these people more money.
They talk about damage to their environment which is very important, these days this is a top priority of mining companies, it has to be or they will fail on all levels.
Mining for resources to enable the world go green is a necessary evil, as they say, you can’t make an omelette without breaking eggs. The amount of minerals needed to go green is colossal, it has to come from somewhere and at a cost, but definitely with the local community benefiting and understanding all they need to know, this way hopefully all will work to a sensible outcome.
Solgold has and still is working with the government, the locals and getting involved in small ways to support the community by employing mostly Ecuadorians
Work together and all will benefit
Peru seems to becoming a basket case for mining…
‘Late on Thursday, left-wing lawmakers from the ruling Peru Libre party presented a bill to nationalize copper production in Peru, the world’s No. 2 copper producer, including troubled Las Bambas. The bill is unlikely to go through in the current conservative-led Congress.’
https://www.mining.com/web/peru-cabinet-seeks-solution-for-las-bambas-crisis-as-leftists-urge-nationalization/
And
https://www.reuters.com/world/americas/blaze-perus-las-bambas-copper-mine-tension-rises-2022-06-01/
Two fires break out at copper projects in Peru amid protests
https://www.reuters.com/world/americas/blaze-perus-las-bambas-copper-mine-tension-rises-2022-06-01/
LIMA, June 1 (Reuters) - Southern Copper Corp (SCCO.N) said that a fire broke out at its Los Chancas mining project on Tuesday evening, at around the same time as another fire started at MMG Ltd's (1208.HK) Las Bambas copper mine, sources said, amid intensified protests against mines in recent months.
Communities in Peru, the world's No. 2 copper producer, are demanding higher benefits from the industry and prices for the red metal remain high.
The situation is especially challenging for MMG and Southern Copper.
Las Bambas is one of the world's largest copper mines, and operations have been halted since April 20 by protesting members of the indigenous Huancuire community that has settled inside company property.
Southern Copper suspended operations earlier this year for over 50 days at its Cuajone mine, as neighboring residents demanded a share of company profits, shutting the mine's water supply in protest.
The government of leftist President Pedro Castillo has struggled to appease protesters since taking office last July. Castillo was elected with massive support in mining regions amid pledges to better redistribute mining profits.
In a statement on Wednesday, Southern Copper confirmed the fire at Los Chancas, a $2.6 billion project that has yet to be built.
Gino
Slug doing ok ….. more importantly Solg doing ok
Keep the faith
DBW
Thanks DBW (re CD). Also for your conversations with Slugger that you post here.
Berry Street Capital sent the letter.
I assume Bell Potter are custodians holding for DGR and Samuel (Mather), hence approx 12.5%.
Wasn't it Bell Potter that sent the critical open letter?
Who are they holding g for...?
Totally agree porvenirial
But haven’t you heard about the diverse book lol
In that scenario mate, I'm suggesting that we sell Solgold for some Godfather offer, and 95% of that money to goes to you and me, but that the exploration assets (beyond Cascabel and Porvenir,) are spun out into Solex Newco with a chunk of cash, the shares of which also go to you and me. Pretty standard stuff, but it reignites our exposure to the promised exploration successes. Dazza said they cba drilling because the market didn't care. Here's a way to fix that. Nick had previously said they were worth more as a collection, but I was never really convinced. There may be all sorts of misdirection going on with both statements, of course.
I wonder if it's a thank you for all you done bonus and we are selling solgold to highest bidder giving you a nice thank you return ,bid comes in later in week maybe let's see
Gino
Colonol on ADFN now ......
Ecuador open for business....remember we present Monday and Tuesday in Quito
https://www.bnamericas.com/en/news/the-mining-potential-of-ecuador---round-table