Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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For all the spin and speculation on here today, this company is in dire straits and we as shareholders deserve better.
Since Darryl has taken over, he has:
- delivered a watered down PFS to which the market reaction was to shrug its shoulders
- awarded himself stock options
- sacked our interim CFO and the person responsible for raising finance for Cascabel, with no explanation to shareholders
- sacked our new CFO, 6 weeks in to her new job
- sacked the metallurgy manager on SOLG's books
- gone through a failed fundraising exercise, spooking the market
- appointed an ex BHP chum as yet another interim CFO
- left shareholders in the dark about what the revised company strategy is (clue, it certainly isn't taking Cascabel to production)
This is absolutely no way to run a listed company. We are now in a very precarious position, with around 4 months to go before what will be another testing AGM, and our funds dwindling by the day.
Time for Darryl and team to get on an investor call and be held to account for the utter mess that has been created over the last few months.
Nick Mather - a penny for your thoughts please. What the hell is going on here.
Sharket Mare thats the best post you've ever made.
Right on the money...except on who 'sacked' who...just look carefully where the influence really lies...
Sharketmare, what nonsense.
Lets just look at it in more detail... My points in CAPS.
Since Darryl has taken over, he has:
- delivered a watered down PFS to which the market reaction was to shrug its shoulders (PFS WASN'T WATERED DOWN, THE CAPEX WAS REDUCED AND THE REST FOLLOWED. THAT'S WHAT A PFS IS ALL ABOUT. IRR!
- awarded himself stock options (STANDARD STUFF FOR CEO EXECS)
- sacked our interim CFO and the person responsible for raising finance for Cascabel, with no explanation to shareholders NEW CFO APPOINTED SO OLD INTERIM CFO NO LONGER NEEDED - WHAT'S THE BIG DEAL?
- sacked our new CFO, 6 weeks in to her new job (SHE RESIGNED AND MAY NOT BE DOWN TO DARRYL)
- sacked the metallurgy manager on SOLG's books (WHO?)
- gone through a failed fundraising exercise, spooking the market (TESTED THE MARKET AND NOT ALL SHAREHOLDERS WERE ALIGNED EG LIKELY MATHER WAS NOT UP FOR THE DILUTION)
- appointed an ex BHP chum as yet another interim CFO (HE'S INTERIM AND KIETH WAS EX BHP AS WELL BUT YOU LIKE DHIM
- left shareholders in the dark about what the revised company strategy is (clue, it certainly isn't taking Cascabel to production) COMPANY STRATEGY CLEARLY COMMUNICATED VIA RNS AND RECENT PRESENTATIONS - HAVE YOU READ THEM?
This is absolutely no way to run a listed company. We are now in a very precarious position, with around 4 months to go before what will be another testing AGM, and our funds dwindling by the day. PRECARIOUS POSITION??? WHY?
Time for Darryl and team to get on an investor call and be held to account for the utter mess that has been created over the last few months. ALL THAT'S HAPPENED IS THE CFO HAS GONE. WHY DOES THAT WARRANT AN INVESTOR CALL?
Nick Mather - a penny for your thoughts please. What the hell is going on here. MATHER AND IRWIN VERY QUIET. THAT TELLS YOU ALOT. PATIENCE!!!
Sharketmare
Nick is still contactable @ NMather@dgrglobal.com.au
He at least does reply whereas nobody at SLOG seems to anymore!
R's
BN.c
Colonel.
1. The PFS was underwhelming. The market reaction to it told us this.
2. The plan was certainly not for Ingo to leave when Ayten started. You are spinning this into something it isn't.
3. If you believe Ayten resigned I have a bridge to sell you.
4. Lisa Parks was SOLG's metallurgy manager.
5. A failed fundraise is a red flag, no matter how you spin it or what when on behind the scenes.
6. There has been a change in corporate strategy according to Ingo, and indicated by the recent disposals of staff. None of us know what it is.
BnC- thank you, I will write him an email.
sharkmarket
1. The PFS was underwhelming. The market reaction to it told us this. (SO NOT WATERED DOWN THEN??
2. The plan was certainly not for Ingo to leave when Ayten started. You are spinning this into something it isn't. WHY KEEP OLD ACTING CFO ON IF NEW CFO APPOINTED. WE DON'T NEED ADDED WAGE BILLS!
3. If you believe Ayten resigned I have a bridge to sell you. READ THE RNS... IT SAYS RESIGNED!
4. Lisa Parks was SOLG's metallurgy manager. WHO!
5. A failed fundraise is a red flag, no matter how you spin it or what when on behind the scenes. WHY DID IT FAIL? BECAUSE MAIN SHAREHOLDERS COULD NOT AGREE ON THE RIGHT STRUCTURE OR BALANCE?? NOTHING TO DO WITH APPETITE OF MARKET.
6. There has been a change in corporate strategy according to Ingo, and indicated by the recent disposals of staff. None of us know what it is. ACCORDING TO INGO? IS THIS INSIDE INFORMATION? CHANGE IN CORP STRATEGY... YOU MEAN NO LONGER SEEKING TO FUND ALPALA THEMSELVES??
BnC- thank you, I will write him an email. AS WILL WE ALL. HIS INBOX WILL BE FULL.
Sharky
You'll prob get 1 or two lines off him at best - but at least its a response ;o]
Cheers
BN.c
Fortissimo are you setting yourself as judge and jury here...
Some of your responses might imply that YOU have inside information...you're not Nick are you...?
You clearly aren't on Linked In because this is what Ingo posted 2 weeks ago...
"After 3 years at SolGold plc and 2 years before as an advisor, I am moving on. My role has moved to Brisbane and the strategy has evolved."