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To the past nine months, this week has been interesting.
Apart from the revelation about the number of ndas and site visits, the statement didn't contain anything new. But, it was concise and clarified exactly what's been going on and what the team are intending to deliver. It's a pity Caldwell hasn't been able to do this in any of his previous public presentations, but hey, ho, he's done it now.
Although I thought Berry's activism was a good thing at the time, life has moved on and their departure from the share register is no bad thing - I wish we knew with whom they placed their shares.
All-in-all I reckon this is the best week we've had for a very long time.
Closed up 22% on this weeks low...holding above resistance...decent two way volume...
Surely next week it can recover to at least 11+, the price we hit after Scott and Twiggy bought their shares...
Major shareholders not selling...PIs tempted in...TR1 on Monday please...?
Tend to agree, I'd summarise it as 'best and worst week' SOLG have had in a long time.
Scott and Maxit have approx 6 weeks until AGM and a few voters will be doing it early doors, so it's more like 4 weeks.
They are due to announce the AGM date via RNS as the SEDAR version has not made it's way through to LSE as yet.
No one wants to say it as tempt fate and all that but I think the 'bottom' is in now and soon there will no longer be any opportunities to bag SOLG shares under 10p. Black Friday came early for anyone that snaffled a wedge at under 9p.
The CGP have a lot to do and prove before the AGM imho.
Fort, as you know from my earlier posts, I had planned to vote against Scott. However, I was brought to the realisation that it would not make sense for us to vote out the current BOD because we do not have suitable people available to take their place, and that voting them out would be playing into BHP and Newcrest's hands who want the BOD gone so that they can pick up solg for a song because they are not aligned with us. Consequently, I have decided to vote for the current BOD even though it pains me to do so.
Eloro
Personally I think it’s the right decision. Scott is massively incentivised to get this done and certainly hasn’t moved to Ecuador for a year plus to earn $200k ( a fraction of what Fawzi was allegedly earning) …… he’s there to do a job and hopefully he’ll get it done.
Keep ticking the boxes and get it oven ready ( turn key ) and maybe things will look better before too long.
No guarantees here but there never are
ATB DBW
Whilst I’m here ….. Rad , Scott clearly mentioned that Jiangxi were at 7% ….. surely we should have had a TR1 if that was the case or do you think he was including their Valuestone holdings??
To my reckoning they were at 6% and that was prior to the merger
Totally agree with you DBW.
Plus, the following line from the recent RNS was inspirational:
"There is no need to place the Subsidiary Shares at this time, and depending on the outcomes of the Strategic Review, there may be no need to place the Subsidiary Shares in the future."
Can't be any clearer that the end is nigh. Why say that otherwise?
BHP and Newmont do not have enough shares to be able to dictate things so don't fall for that one. There's too many shareholders of a decent size to vote against BHP and Newmont should either try anything underhand.
So the idea that by voting Scott and co down at AGM is going to hand us to BHP and Newmont on the cheap is nonsense. The CGP boys have had their chance. It's time to give BHP or Newmont a chance to see what they have to offer. I believe there are takeover rules that prevent them from offering low balls or diluting shareholders based on their previous stakes they've taken.
Based on what I have seen of late and the way that SOLG management and Maxit allowed the SP to fall to 7p levels tells me that they are not capable of getting anything done that will add shareholder value. I would go as far to say that even a low ball by BHP/Newmont would likely be a better deal than what these guys can deliver.
It's been a woeful performance this year by the new management team and voting for them to do the same next year is not my idea of investing. The PFS in Q1 24 is just a carrot/ruse imho and I thought it was very telling that they did not put a DATE of Q1 24 on the latest RNS. Instead... they left it open. I wonder why!
I'll be voting the lot of them down unless they give me a reason not to. Edn of. They have 4 to 6 weeks to come up with something more engaging than some weal ... ermmm... we will look at waterered down PFS in Q1 24.. . but that might be Q2 or Q3 24 depending on how the numbers go.
Maxit, Scott and co are the main reason we are down here at 9p levels. Not Berry Street.
Forte, you are obviously a very smart chap and you do a lot of research.
So it comes as a surprise that you can display such cognitive dissonance, you would be voting to destroy the most likely chance of getting the outcome you are looking to achieve.
Unless you think that BHP or Newmont or anyone else a) would now show their hand, b) would show their hand at a price that management would recommend we accept, c) we shareholders would accept.
Since no one has been stopping anyone from bidding, the only explanation for not having sold yet is that the possible buyers are not looking at the same price level that SOLG's management want to achieve, given the size and quality of the resource and the country risk.
So effectively you would be voting to say that you are happy to sell for a much lower price. If you think it's a great idea, then why don't you gather shareholders consent and then go to Scott and suggest that he puts a FINAL SALE sign with a 20p price tag?
Not trying to antagonize you, but I really don't get you here.
After being off line for all afternoon coming back now to see we actually didn't make my 10p prediction at close....( came close though....)oh well there is always tomorrow, I mean next week.....
Have a good weekend guys.
:)
I share your frustration Fort. However, I think Bob and Scott represents our best chance at the moment to close a deal. Plus, the decimation of the SP started with DC not sorting funding out in time and gave the market that chaos reined at Solg towers.
Perhaps Bob was too busy with the deal to worry about BS unwinding. I am now willing to give them time to succeed.
There's a variety of reasons for being down but this hoes back to previous management and events we can't control
The Italian,
Hopefully Scott and Maxit can deliver something meaningful news wise before the AGM and swing my vote. My vote is against them right now and they've zero to earn it. So believe me when I say this, at the moment unless Maxit or Scott can deliver something that shows they genuinely have the ability to get the job done... it's over to BHP and Newmont. Look at GGP as an example, they've been done over by Newcrest.. done over by Wyloo... and yet they are still valued at £400m or so based on a small 30% stake in a resource that is tiny compared to Alpala.
As I said, there is no way BHP or Newmont can do us over with the shareholder base and voting as it stands.
Let hear what they have to say... lets see if they are even interested in sticking directors on the board and steering this forwards? Lets see what they can offer. If we don't like it, then we can boot them out. There will not be any resolutions passed that enable them to flood us with shares.
I know it feels like shooting oneself in the foot but lets face it... surely the market will give us more credibility with a super major fully involved rather than some management bods desperately playing dodge the bullet while they play some pretend 'buy some time' game which inevitably is going to end up looking pretty dire based on what they have delivered in first 12 months. Harsh but fair.
All they need to do to gain my vote is give me a decent recent to vote for them. At the moment, all they have done is line their pockets, dilute the rest of us and lower the averages so THEY can take lower offers. Next year... much of the same as I 99.9% certain that they will not miss the chance to pocket those 100m CGP shares on the cheap.
SOLG are no where near delivering a monetisation event because all involved and under NDA's must be thinking... why make a move when this muppets are just reducing the price for us by the day!
And who would have thought it... PoG zips through $2000oz again (wow!) and SOLG are sub 10p. That tells you how dire and poor Maxit and Scott et al have been this year.
Even the GOLD trackers have no interest in us. Bonkers.
Im sure they'll be losing sleep tonight CD if they have read that:))) lose your vote? The very thought.
You seem to infer your vote will be the catalyst!
Thanks JG1964,
My view is that the bluff game is over. My belief is that after a year they must have someone interested who in turn is keen to see BHP kept at bay. Get your votes in early and just like the 'please please letter' sent out to shareholders ahead of Mather's inevitable headchop... they'll see the numbers voting against them... they'll know what's coming and you know what... I think you suddenly hear that they are in advanced talks to sell ENSA that may or may not result in sale of the entire business. That's what happens when you turn the screw on these types of guys. Turn the screw... and then you'll see them fight for their lives. At the moment... it's all too easy for them and they are fully in control.
Sometimes you have to say enough is enough of the BS quarter on quarter promises and call those responsible to charge.
If they don't have something pretty solid lined up after 12 months then there's no way they'll have anything different lined up in Q1... just just want to dangle a carrot to get them through this AGM and buy another 12 months. Same as year before and the year before that. Any super major interested in this project cares not a jot for PFS1, or PFS2 or PFS3. They'll develop it based on thier own purse strings and deep pockets and not some pony $1bln capex. Tier 1 assets are for super majors, not minnows.
If you want draw management out on what's really going on... the vote against them at upcoming AGM and then you'll soon see what they are up to.
CD isn't it about time you saw someone about your condition? You seem to think you know what's coming down the track , but you constantly get it very wrong. I don't give two hoots you choose to ignore , most folk read everything here.