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https://twitter.com/solgold_plc/status/1554373604460187648?s=21&t=Z_ApYHvOTGt0EKKckGOtJQ
Cheers for this DBW… normally I would watch every webcast/streamed interview with keen interest.
But my interest/belief in our management is now so low I’m not sure I can bring myself to listen again to more talk of first mover advantage, generic pleasantries, talk of cabs off ranks and how the board are making good progress across our large portfolio… to a room full of industry people that have already heard it year after year.
The frustration is real
Agreed
Well expressed, orthern.
Why bother...?
Meanwhile, looks like a steady stream of small Autobot sales...
Has anyone had anything from Fawzi, or anyone else for that matter, in recent weeks?
I wrote to him about Ingo and Lisa leaving; the 'car crash' RNS and Nick's and Andrew Taunton's unguarded comments.
He acknowledged both and seemed sorry Ingo had gone.
They have gotten away with it for too long. This is just a continuation of the Mather era.
They fly around the world first class from conference to conference sprouting the same stuff time and time again.
Correct, how many times have you heard we have first mover advantage? A good management team who entered Ecuador 5 years after us, would now be 5 year ahead of us.
They live the champagne life style while at these cosy conferences.
And don't forget the large 6 figure salery to compliment. No wonder they are in no hurry to move this along with momentum.
I'm afraid to say Irvin and Co were right about solg all along.
I suggest everyone takes the opportunity to vote his year and get rid of the whole lot.
Monte
It won’t get to any AGM …. They can’t afford to
You can tell a lot about a company with how they dealt with covid. Some are now busier than ever and some are mentioning covid in everything they say.
On other words some have gotten on with it and recovered. Some use it as an excuse. Take your pick with solg.
One thing's for sure, the time has come for them to drop various oblique references and to state with absolute clarity what the strategy actually is.
Quady will argue they have - with a degree of justification, I might add, but when you have the most important board member saying something completely different, is it any wonder the market is confused?
Fawzi didn’t reply to me.
I wrote to him asking for clarity about drilling progress across our sites and received
‘exploration drilling at the regional projects was paused in January and has not been restarted as the exploration team are undertaking extensive field programmes’
I also asked could Solg give just 1 example of what the announced newly agreed close working partnership of Solg and cornerstone has achieved? Just 1 example of how we are now working together, better…. And received
‘On Cornerstone, the announcement last year clearly marked an improvement in the relationship’…… . Excellent stuff…. So no he couldn’t.. and he was similarly useless regarding any update surrounding our hapless attempts at joint venturing the regionals…. I fully expect us to be handing back the majority of them.
Excellent point addickt
Piecing it all together...radio silence of months...Fawzi's guarded comments...a failed equity raise and a car crash RNS...
Rabbits in the headlights of a car...?
Hunkered down in their Brisbane bunker together...?
orthern, and that announcement was over a year ago and the company has failed completely to stick to their promise to provide shareholder value. One suspects Cornerstone may no longer be so pliant.
Hit 23.55 and bounced...for the time being...equity raise incoming...?
Come Oct / Nov miraculously and historically, SP will spike and same old dielema ! I'm pd off - fuse blown !
GLA
Now at a 19 month low...next support at 21.75...then 20 or so...then the COVID bottom (but we won't get that far...)
Add, I remember a few years ago, people gloating on here about how cornerstone were about to be ruined by our contractual agreements, how they couldn’t afford to contribute…. How we had the best side of the contract, how screwed they were… how they would have to capitulate to lord Mather…
I then saw an interview around that time from Irwin… who was totally at ease with it… as he explained, very clearly that Mather was talking nonsense, that Solg investors would be diluted to high heaven before they get to any Full feasibility, where Cornerstones investment will not be… they keep their 15% regardless of how many shares Solg have to create to try to prove it all up.. all the time adding value to Cornerstones 15%….
And here we are with an extra circa 500 million shares in existence, about to run out of funds again, and our management clearly failing to progress..
I could go on, But I will leave it here, as I am aware quite a few of my recent posts have just been me complaining about the clear lack of any progress or achievement from our board…
I do believe in the asset, just have no belief in our board to capitalise on it
Lunch I agreed and fully supported the Franco deal, it was a great choice at the time… the important part being the buy back clause… but as you highlight, going down this route again, potentially with Bolli, cedes more.. making the IRR even lower for any majors out there, that may be interested in Cascabel.
Realistically we only have Mathers past bluster that there are many super majors circling around us… as far as I know, and the only evidence, is it’s just BHP? Anyone can correct me if I have missed evidence otherwise. Where are they if we are priced so low and so vulnerable?
A credible finance plan has been out of solgolds reach for too long..
Montecristo:
I'll correct my earlier comment to: It's the slowest Gravy Train in history......
Ortherncopper, we have to stick to facts, and that is nothing has changed, we have done the PEA and PFS, next is DFS. To many people on here said we are expecting a bid. Even when Solgold said they were not in discussions with anyone.
The things Solgold are talking about are the DFS, raising a CFP and construction of Alpala. Also talking about the other tenements, just no news yet.
Nothing else.
So we are on a long time schedule. Lots of patience required.
orthern, indeed. People appeared to misunderstand the CGP situation and turned their ire on them, despite the fact it was us who launched a hostile bid.
In fact I think that bid was when the rot started to set in. It marked the high point of Mather's hubris and was a thoroughly awful deal from our point of view. Having to wait 18 months, or whatever it was, for a so-called translator made us look pitiably stupid. I actually ended feeling sorry for the PR girl who was tasked with defending that blatant lie. What a raging disaster it was.