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15/12/2022 Scott Caldwell:
"The entire team at SolGold is working tirelessly to ensure all shareholders and other stakeholders are rewarded for the world class discovery in Cascabel and our portfolio of assets across Ecuador. We appreciate all the support we have received to date from stakeholders and are committed to our objective to maximize shareholder value."
thanks for maximising shareholder value, Scott
Magoo. You've just posted an even funnier post than bubble.
I don't think you can blame him for the political disruption. Similarly, we have no idea what the SR will reveal. So, it probably makes sense to reserve judgement on his performance.
Magoo. I meant Caldwell statement, hilarious. no reflection meant on you.
NAL, so you blame him, do you?
Adickt. I don't blame him, certainly not. My point is. It's just another worthless statement, from the solg long list. On another point I think padmaster can dispose of his infesters hysterics. With the sp in free fall. There job is done. Those Blackrock stooges can be made redundant aswell
@addicknt obviously the political situation is beyond anyone's control but communication has never been the company's forte. I'd buy more if I trusted them to deliver in the near future..
Magoo, does that imply you don't believe the new team will be any different? If so, I think you're wrong. They need to be given time.
The direction of the company hasn’t changed.
We’ve seen hundreds of ups and downs over the years .
It’ll pass
We'll see. I am just very frustrated. Board feathering its nest while we see our investment going south. At the end I topped up as the assets are still there and I am hoping to be proven wrong regarding the current management
The direction of the company has not changed… I agree. I don’t believe we will test new lows.
However with the SR no where in sight, and no exploration taking place, there seems no positive, share price increasing news on the horizon any time soon.
Solg will probably just continue to drift lower, as is traditional on no news… and certainly on uncertainty surrounding the Ecuador government.
However you choose to look at things unfolding over there…. It’s not value enhancing, or sending any positive signal to anyone Solg wish to pull in to a multi billion dollar monetising event that would need government approvals. Political stability is needed for that.
I agree that we can't blame Caldwell for the political unrest. I am slightly resentful of former management slowing the development of the company down and not marketing the asset earlier, whilst Ecuador was comparatively stable and had a mining friendly leader who wasn't facing impeachment charges. The political risk here now is substantial and even the analysts who do this for a living have no idea how this is going to play out.
It's going to be tough for SOLG to obtain the exploitation license and reneg the IPA with all this going on, and as Bozi points out no company in their right mind is going to stump up billions with elections on the horizon which could result in a much less favourable environment for foreign investment.
On the plus side - and this is a very generalist comment - the hard left in South America do tend to gravitate towards Chinese investment over 'the West'. The chips might fall quite nicely for Jiangxi taking over or JV-ing Cascabel.
SM. SLIGHTLY RESENTFUL.?????????????
Bbg, fdyjn, padmaster.
Just picked up my infesters bonus, and Blackrock reckon I'm the best stooge they've ever had.
Goodbye, and dream on
Sorry one last post. I'm also in stm. Also exploration company in equador.
They're up 3.5% today. So it's not all equador companies, just the ones run by mather. Goodbye
Need to put some news out imho
If you look at Peru, Colombia, Venezuela, Brazil, Chile and so on... all these countries seem to flip between far right to far left and corruption/volatility is central to their governments.... sad but true. Yet look at all the super major mining companies involved with these countries. It's just par for the course. These countries need the international miners and vice versa. That's how it has been for decades and decades.
To suggest that the likes of China or some super majors will not be interested in Ecuador because of the political uncertainty is naive at best. It's baked in. All super majors are well used to dealing with these South American countries. And let's face it... they don't have a choice. Mining in and around Russia looks a no-go area now. Metals are high demand and shortages loom around the corner. Where are the majors going to go to get their copper? Where are China going?
So I don't buy the sudden negative spin. It's already baked in. If we were mining in Australia we'd be £3bln market cap wouldn't we. Instead we are scrapping £500m on a good day. Why? Because we have an asset in Ecuador and the market has already discounted the price because of it.
Finally, it's well known that Alpala will be a 5 decade long project for whoever takes it on. In that time, it's likely you'll see at least 10 to 12 presidents or 10 to 12 major political changes.
Mirador has been producing through several changes of political powers and all seems fine there. Chinese heavily involved there to so well aware of the risk. Not to mention the historic FTA signed recently.
Will recent events affect the SR process?? Possibly ... but that might be for the better as interested parties might just decide to get this tied up before new gov comes into power. Possession 9 tenths of the law etc etc.
Plenty sniffing around Ecuador so no wonder it's seeing certain entities trying to secure powerful controls over the country and that includes the US and Canada.
Have a read of the below
https://canadiandimension.com/articles/view/as-lasso-flails-ottawa-pushes-for-more-canadian-mining-in-ecuador
Could be worth selling now and buying back in at 5p at this rate guys 🤷♂️
Nope