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Eloro - Maxit are leading the strategic review via Bob and Dan so I'd say they are very much the firm in the frame.
They also arranged the last royalty with Osisko.
I don't know the day-to-day workings at the business but I'd assume that with this arrangement and the data room in operation that there is much less for Citi to advise on, particularly compared with before the merger or before the Franco royalty.
The next financials will tell us what they've done for the business in the last 12 months.
But it's exceptional for me to do so now, because the subjects for discussion basically haven't changed for years and it's frankly boring now.
Long story short is there's still absolutely nothing happening, apart from the BOD collecting money for doing a grand total of zero.
I'm still invested, with a view to adding more if the price continues to fall, but why do I have a sneaky feeling I'll be thinking exactly the same this time next year?
I remember saying many months back that we wouldn't see anything happening before the new year and it looks like I might be right. Except I honestly think I was probably too optimistic.
It seems to me that the people that matter are perfectly content with nothing happening. I'm not even convinced there's anything going on behind the scenes at all.
Bozi, I thought both Maxit and Citi are involved with Solg if I am not mistaken.
If you're bhp and or newmont, you would want to deter retail investors and or existing small shareholders from buying and or retaining solgold units whilst you were doing DD / advancing internals studies / allowing the business to secure necessary permits, therefore there is no surprise that the SP has been so dull over the last 12 months....
A little bit more patience is required and all will be revealled...
SM agreed. We need stability, not another change of leadership, which would make us look even more vulnerable.
Why would Newmont or BHP vote against SC. Afterall, SC is doing all the heavy lifting and is ticking the boxes required to start development.
If they want this, BHP or Newmont will need to devise a deal with Solgold that would deter competing bids... There is no point putting forward a low bid as it would simply get trumped and then FOMO takes over...
Lets see if the SP rises in next few months which coincides with securing majority of the remaining permit approvals.
I would not be surprised to see the hand break released and the SP organically heads back to 40p before any majors news.
There would be fewer competing bids if they were to present 60p/80p takeover. Someone remind me what the SP was when BHP arrived...
Bozi, absolutely, particularly if you work for Goldman's. However, very few of my contemporaries stayed with the big players, with only one or two notable exceptions.
I understand your point about Citi, but Sangha is used to dealing with large transactions and in any event we've been led to believe that both parties are still very much engaged.
There's no way I'm going to bring myself to vote against Scott and the BoD because I have absolutely no belief that anyone would be able to achieve a positive outcome any faster. It's been a painful year, but one that is just as so for Caldwell, Sangha and Irwin who all want an out and stand to make a load more cash than most on here.
Dinner, if those are the numbers, then my #2 action point might be a useful one.
I don't personally think they are being slow on purpose but rather because of may externalities, so hurrying them might make no difference, but one never knows, we could easily speculate on things that might be put in motion if there was a material threat to their position.
Appreciate that Add. However, I have more than a slight suspicion that if I'd offered you the choice between Citi and Maxit acting for us prior to any knowledge of the merger and SR that you wouldn't be so in favour of the latter.
Not everyone sets up their own shop. Plenty go on to become partners and senior partners of the big boys, and they stand to do just as well as the go it alone-rs.
As with any sector and industry, there are sometimes benefits of sticking with the renowned names and the trodden path. For me, a boutique firm holding the reins on what we hoped would be well in excess of a billion pound plus transaction leaves me with a bit of trepidation.
For one thing, if some of the shareholders were to vote against SC, which is in their rights of course, it would be a good exercise to 1) estimate the votes that will be in support of SC anyway to see if it's even worth bothering to vote against him, and if the numbers represent a credible threat then 2) reach out to SC and let him know that shareholders don't buy into the Q1 promise and want to see tangible progress before the AGM to better inform their vote.
Otherwise, I think that any protest vote risks being just a waste of time.
Personal opinion that is.
Bozi, it's often the case that the best corporate advisors don't work for the major investment banks. They start their careers there, build up a client base, establish their reputations and then move on to set up their own boutiques where the rewards are far greater...provided they get it right. Sangha has done just that.
The other factor to bear in mind is that if it's your own shop and you don't have the luxury of a large salary coming in every month, you'll work far harder and will be more motivated to get the best outcome for the client.
SM - I wasn't criticising Bob. I asked the other contributors to this forum whether anyone was aware of the specific projects he had worked on prior to being enlisted by Scott and the BoD.
I wasn't aware of the AFR piece and am not subscribed and wasn't aware of it being posted previously.
That piece does add some colour in terms of how the relationship with Osisko has flourished and it's intriguing to know he was involved in the Noront deal.
It does give me more comfort than I had but I'd still prefer the big boys (Citi) to have at least one hand on the wheel.
You are right SM, I will stop trying to wind up our Italian poster:)
You don't need to take any notice of it NAL, everybody can post and have an opinion. just filter them or ignore... simples
you know where this is going, I know where this is going, obviously everybody has different timescales and expectations
Come on Eloro time to let that one go.
Bozi, we see eye to eye on most things SOLG, but I'm struggling with your criticisms of Sangha on the other thread last night. Whilst I appreciate the now infamous 'Bob's bat' story in the AFR was a PR exercise, some of his pedigree was included in the piece:
"The bat bears the label “stupidity reset device” in honour of Sangha’s work in outfoxing the much larger multinational GoldCorp when it made multiple hostile moves on Osisko between 2009 and 2014.
When Sangha helped thwart GoldCorp’s hostile takeover by arranging for most of Osisko’s assets to be sold at a higher price to Agnico Eagle and Yamana Gold in 2014, it was not the last time he took delight in wrongfooting a mining giant.
Sangha was in Forrest’s corner last year when Australia’s second-richest man launched a six-month bidding war against BHP for control of Canadian critical minerals explorer Noront.
BHP walked away from that battle in the belief Forrest’s private company Wyloo Metals had overpaid for geology that was very remote and at an early stage of scientific assessment. Forrest walked away with the prize."
It's hard to believe that Forrest is going to hire someone he doesn't rate to go toe to toe with BHP. I think it's fair to say he has built a reputation for being a strong dealmaker in the industry. A good person to have in our corner.
Careful Bozi, TheItalian will be racking up shortly to scold you for not have as bigger/significant multiples invested in solg like himself:)
Anyone who raises questions regarding Scott's performance to date are stressed out because of their tiny, insignificant investment here as stated by TheItalian!
Tough questions, please Tesla1? Nah, I don't know what you mean.
Sunshine and roses here.
Warren is briefing PIs. Scott is playing a blinder keeping the price low. All points to a conclusion in the coming weeks of course.
Ref my posts showing how the craving and need to be centre of the universe on solg board are causing the clowns to get more and more desperate by the day to think up something new to get back in the seat.
Kats latest blockbuster should get him in the seat for a short while.
But as I post I'm assuming adikt, quady and one or two others are dreaming up something to outdo him, and topple him from ridiculous post of the day top spot.
Bozi
With this level of performance sp, and progress , shareholders should be asking tough questions but highly leveraged rampers can’t face that honesty and try to sweep the junk under the table in the hope that a rabbit will get pulled out of the hat.
They’ve been doing this for 5 years plus, if Cascabel was the greatest find this century, majors would be falling over themselves for a piece of the action, it’s currently available for peanuts in the greater scheme of things.
No one is going to fight over Solg Noront style because of where it is despite what the rampers post. If there was an earthquake in Ecuador they’d turn that into a positive by saying the copper is easier to access ….
Ostrich and ramper spring to mind……
SolGold is utterly wonderful. All hail SOLG and the huge riches it will bring us soon.
Rock on King Bob, Emperor Scott and Dangerous Dan Vujcic.
It is generally accepted that Cascabel is a huge potential copper and gold resource, but apparently has potential to also be a premier silver producer. ( not really acknowledged or talked about )
As a World Series poker finalist, and tinfoil hat wearing conspiracy loon, I would like to bring your attention to certain information, namely.....
There has been and will continue to be huge distortions in the silver market. Copper is the king of the electrical world. Silver is the queen of the electronic world ( hence why it's price has been so manipulated and suppressed during the 21st century, but that's a can of worms to examine in detail another day.... just go with this train of thought for now )
There is a deficit of silver, as it gets consumed in small amounts in every electronic gizmo. The Chinese are now going crazy to source supply:
https://tomluongo.me/2023/09/21/podcast-episode-154-vince-lanci-and-why-gold-is-the-new-black/
Listen at 46 minutes
Even better, listen to it all, especially if you are a Brit or familiar with perfidious Albion.
Spoiler : Europe is fooked in this new multipolar world, resources are going to be protected much more closely, new financial architectures will be supported by resources held by blocs. The Brits are really naughty boys and have been doing it for 300 years, but now they have to stop.
Those of you paying close attention to the Russo / Ukie war must be aware that the wonderweapons this time round are the missiles, drones and electronic doodahs in general. With this new wave of world war in its early stages ( think this Russo / Ukie spat as the Spanish Civil War warmup that it is, with proxies testing out their weapons systems and prepping the battlefield ) then we will be entering a longer and more general period of electronic conflict over the next ( decade ) ?? until the next iteration of the economic and political order is resolved and settled, likely around 2032.
So, the race is now on to find and secure stocks of not just monetary metal, gold ( tick ) but also industrial metals: copper ( tick ) and the most important, silver ( big tick ) . It will be consumed in huge quantities and never recovered.
And what do world-class poker players do ? They absolutely love to bluff, misdirect and distract the rest of the table when it comes to their true plans. Cascabel is problematic, expensive and in the hands of fools.
Of course, I'm just a conspiracy theorist with a few dots to join, so this is for idle fantasy purposes only !
There is no way I will vote a single share for Scott Caldwell or any of the SOLG board without something concrete prior to the AGM.
Oh yeah of course everything is going to happen in Q1 next year Scott, of course it is! Have we learnt nothing over the last decade guys? Every year we have been sold the same bs leading into AGM's, then 12 months later we sit here thinking the same thing over and over again, we are literally fulfilling Einstein's definition of insanity.
Doesn’t that perfectly highlight another poor performance this year DM?… That we are in the same situation, despite a Strategic Review process to try to monetise a supposed best deposit found in the last decade..
I’m not so sure about Scott and Maxit…. Scott was almost having to ask would be buyers to come forward at the end of his presentation the other day..
Adikt. You really do think your the board sherrif.
Your last post, shows your arrogance, you now think you can tell us all what questions can or can't be asked.
"There are plenty of questions which need answering, this isn't one of them."
Adikt and quady deciding the board narrative.
Bloody mind boggling