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DinnerM - are you LunchM reincarnate or are you TheSlug? I thought the former until you posted something day of AGM, now can't tell
As my post was removed for some reason...
Happy Christmas to all of you...including Quady...
And heres to a life changing New Year courtesy of Solgold!
Morning all
Have a lovely Christmas and Happy New Year, stay safe.
See you next year
Pinot xx
:0)
https://www.lse.co.uk/news/ecuador-says-mining-could-become-third-biggest-export-by-2025-09i2s5it9p6rhca.html
“The government expects four major mining projects will begin operations by the end of President Guillermo Lasso's term in 2025, including the Cascabel project, held by Australia's SolGold. (Reporting by Alexandra Valencia; Editing by Sandra Maler)”
Credit where credit is due DM you called it right on the votes still to be counted but your maths on likely outcome of resolutions ( Oooo it’s going to be tight etc etc) was well off the mark! So let’s just agree to disagree but not withstanding that I wish you and all the other good folk on here a Very Merry Christmas and a Happy and PROSPEROUS New Year
Wishing you all a Merry (Solgold fret free) Xmas folks
Enjoy the festivities with friends & families n give this cr-ap a rest.........
All the best all,
Yo ho ho,
BN.c
That would be nice wouldnt it Scrat..........
Although feels like a pipe dream currently.............
All the best n Merry Xmas. matey
R's
BN.c
Sorry to see you go Dinner Money
https://www.mining.com/web/bhp-set-to-face-12-billion-uk-suit-over-brazil-dam-disaster/
Thanks DinnerMoney... were you LunchMoney before? Felt sure some more information on voting records must be available somewhere, little bit of searching and was able to track this down.
2020 votes:
SOLGOLD PLC
Ticker: SOLG Security ID: G8255T104
Meeting Date: DEC 17, 2020 Meeting Type: Annual
Record Date: DEC 15, 2020
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and For For Management
Statutory Reports
2 Approve Remuneration Report For For Management
3 Re-elect Nicholas Mather as Director For For Management
4 Re-elect James Clare as Director For For Management
5 Elect Elodie Goodey as Director For For Management
6 Elect Kevin O'Kane as Director For For Management
7 Elect Maria Alban as Director For For Management
8 Elect Keith Marshall as Director For For Management
9 Reappoint BDO (UK) LLP as Auditors For For Management
10 Authorise Board to Fix Remuneration of For For Management
Auditors
11 Authorise Issue of Equity For For Management
12 Approve Increase in the Maximum For For Management
Aggregate Fees Payable to Directors
13 Authorise Issue of Equity without For For Management
Pre-emptive Rights
14 Authorise Issue of Equity without For For Management
Pre-emptive Rights in Connection with
an Acquisition or Other Capital
Investment
15 Authorise the Company to Call General For For Management
Meeting with Two Weeks' Notice
For anyone who likes to wonder about how Blackrock votes... If you go on the SEC's Edgar portal, you can search for the Annual Proxy Voting Reports filed by any funds that are US reporting issuers. So if you search for Blackrock + Solgold for filing N-PX, you can find the annual voting records for both Blackrock Funds and iShares Inc (which is managed by Blackrock). These are filed annually in August, so we can only see their voting record for 2021 and previous.
Interestingly in 2021 they voted FOR all resolutions apart from re-electing Brian Moller. They even supported the special resolutions to disapply pre-emption rights. In 2020, they voted FOR re-electing Nick Mather!
We will have to wait to find out how they voted at yesterday's AGM, but the idea that Blackrock are in league with BHP and NCM to vote against Solg management does not seem to be correct.
2021 Votes below, 2020 to follow in next post.
SOLGOLD PLC
Ticker: SOLG Security ID: G8255T104
Meeting Date: DEC 15, 2021 Meeting Type: Annual
Record Date: DEC 13, 2021
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and For For Management
Statutory Reports
2 Approve Remuneration Report For For Management
3 Elect Darryl Cuzzubbo as Director For For Management
4 Re-elect Liam Twigger as Director For For Management
5 Re-elect Jason Ward as Director For For Management
6 Re-elect Brian Moller as Director For Against Management
7 Re-elect Keith Marshall as Director For For Management
8 Appoint PricewaterhouseCoopers LLP as For For Management
Auditors
9 Authorise Board to Fix Remuneration of For For Management
Auditors
10 Authorise Issue of Equity For For Management
11 Authorise Issue of Equity without For For Management
Pre-emptive Rights
12 Authorise Issue of Equity without For For Management
Pre-emptive Rights in Connection with
an Acquisition or Other Capital
Investment
13 Authorise the Company to Call General For For Management
Meeting with Two Weeks' Notice
SOLGOLD PLC
Ticker: SOLG Security ID: G8255T104
Meeting Date: JUN 30, 2022 Meeting Type: Special
Record Date: JUN 28, 2022
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Remuneration Policy For For Management
2 Approve Long Term Incentive Plan Rules For For Management
3 Approve Performance Bonus Plan For For Management
4 Amend Articles of Association For For
DM, thanks. Mather was right to question them...they can be a serious aggravation. Have a look at the damage they wrought o Fulcrum.
Merry Christmas everybody. How frustrating is this share? Not only is it my worst performer of 2022..... if pushed it would also be my top tip for 2023.
Such is the lot of a Solgold LTH.
Anyway, have a good one.
Smickster,
I hope you meant on this BB for Solgold? Failing that, call the Samaritans fella
Merry Christmas to all and hopefully a very prosperous new year
Let's hope it's our last ;-)
If not seen already
“Alliance News) - SolGold PLC on Friday noted that, at its annual general meeting on Thursday, 34% of shares cast were against the election of Interim Chief Executive Officer Scott Caldwell to the board of directors, while six other resolutions received less than 70% support.
SolGold said "certain major shareholders" were the reason for not all resolutions passing with at least 80%.
SolGold is a Brisbane, Australia-based developer of copper-gold deposits in Ecuador. Its largest shareholders are BHP Group Ltd and Newcrest Mining Ltd, each of which are in interested in 12%, according to Morningstar.
In November 2021, SolGold defied calls from BHP for an entire board re-election. It had said BHP had been actively canvassing certain shareholders and members of the board seeking to persuade the board that each director should stand for re-election at the AGM that year.
SolGold on Friday said that 42% of shares cast were against the re-election of James Clare, 36% against re-electing Nicholas Mather, and 39% against electing Dan Vujcic. All three are non-executive directors.
Further, 31% of shares cast were against authority to allot shares, 33% against disapplying pre-emption rights and 33% against a further disapplication of pre-emption rights.
"If the shares held directly and indirectly by certain major shareholders were excluded, all resolutions would have passed with over 80% of the votes cast in favour of the resolutions," SolGold commented.
SolGold shares were up 0.5% at 16.08 pence each on Friday afternoon in London. Since the start of 2022, its shares have fallen 43%.
By Tom Budszus, Alliance News reporter
Comments and questions to newsroom@alliancenews.com”
So the rift between Solg and its biggest (for now) shareholders looks to have deepened …. The big difference is the boot is now firmly on the other foot and the Chinese are in town.
So let’s get back to exploring some of our exciting licenses whilst Maxit work on getting this thing sold
Great posts DG & Sean
Sounds like we’re getting our mojo back
Oh and how could I forget all that cash we have sitting in the bank?
Wanted to say I for one am massively relieved after the AGM victory yesterday.
I did indeed think for a while it may not have gone our way and was rather panicked by that thought ….had my pad out scribbling down numbers and calculating different outcome %’s ……happy to say that it looks like apart from BHP/Newcrest and probably Blackrock pretty much everyone else voted ‘For’ ….so a great victory.
Eyes on the 9th Jan now for CGP to vote on the merger - much easier one that one to predict - thankfully
Following that merger goes through - how long after the vote will the two companies officially combine - genuine question ? As I really don’t know - a few weeks ?
I think at that point or possibly sooner any arbitrage play between selling Solg (Acquirer) and buying CGP (Target) - will cease and indeed we may well see us lift from these levels and hopefully quite rapidly
I also think the rhetoric through media outlets fed by the CGP team or SOLG leaks could well begin to ramp in the new year ….we are safer now and as such may well begin to bare our teeth a little more
My hunch (guess) is that Jiangxi take the CGP held SOLG shares after the merger - and if we tot their current holding with the CGP/SOLG shares I’m pretty sure we will see a new number 1 SOLG investor (check my maths - especially after my wobble yesterday )
With BHP dethroned and Newcrest going through its own internal restructure - I’d hope that the time would then be ripe for any bigger move by Jiangxi
Anyway have a great Xmas one and all - been an anus horbilus (think that’s how you spell it) for our SP but one can only hope next year will be different for all the right reasons
DG
Yes, the SP is 16p but that's basically the natural drift to the last placing price - and that placing was a strategic masterstroke so worth the short term pain.
"Going into production" is now off the table.
Talk about JVs is now off the table.
The forces within the company determined to sell asap are now in complete control.
Nick has finally rediscovered his old "prove up and sell on" self which is a joy to see.
Old enemies like CGP are on board, and together we are stronger. They were a formidable foe, now they stand shoulder to shoulder with us.
The SP was higher this date last year, but SOLG today has not been in such a strong position to deliver for us small shareholders since 2016.
Yes there were six wasted years, but they are over now.
Going into the new year, we are primed and ready.
Bring on 2023!
Risks diminishing with every week that passes.
There isn't one Tier1 mine out there that I am aware that remains on the shelf gathering dust.
The clock is ticking based on red knights post yesterday of the exploitation licence being sought or signed.
Tier1 mines of Alpala standard are rare. Tick tock.
Only marginally but blue at last
SM, You make a very important point about the Specials and I believe you're right. So the key question is; where does this leave us now?
We don't need any more cash for a reasonable period of time, but will our inability to raise more via equity impede progress?
So lets have a little yearly review of what some on here were flapping about...and scaremongering...
1. Fears of liquidation and administration... the worlds going to end type stuff. Some said royalty stream impossible. Some said large cash raise impossible. We were apparently in a very tight corner, up a certain creek without a paddle. Doomed some said. Game over.... what a shambles.
And... what actually happened was??? Ermm.. We got a royalty deal for $50m. We got a funding round with strategic investor for $35m. No fuss. No stress. And the market's fears dismissed.
2. Then we had the AGM... the last few years it's been tight. SOLG have been handcuffed by NOT being able to control the issue of shares without first having to please BHP and NCM et al. Directors jobs on the line etc etc. SOLG was being bullied by two large shareholders to the detriment of the greater shareholder base. SOLG were weak due to their 'controlling' hand.
And .... what actually happened was???? Ermmmm.. SOLG pulled a rabbit out of the hat. Put BHP and NCM back in their box and in doing so have taken control of SOLG for greater good of 'all' shareholders. All resolutions passed for the first time in years. terrrrifc!
So how does SOLG look compared to how SOLG looked in Dec 2021? Do we look in better shape now? Are we closer to a takeover or asset sale deal?? Are we fully funded?
The answer is simple,guys.... despite all the negative noise on this BB by a handful of posters.... SOLG are indeed in the best shape we have been in a long time.
Just a matter of time before the Share price catches up with that reality... oh and the small matter of arbitrage trading pre merger keeping a cap on things. Just wait until that merger is concluded in January... then they'll let the handbrake off.
Enjoy your festive break and don't waste your time posting on these BB's. Spend it with family, get out and enjoy the fresh air. Life's too short to be waiting for cabs to come off ranks. It will happen when you least expect it... be sure of that. That's how M&A works.