Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Bozi, indeed, but I find it hard to believe Sangha and co are going to throw it away for pennies.
Let's see how valuable it is at the end of the strategic review, Addicknt.
I suspect we won't be the ones that see anything like true value as far as our investments go.
Yes management are partly to blame for their poor handling of the discovery, but investors are not blameless. The calls to sell up started not long after hole 5 at Alpala and have only intensified with each passing month since.
Any chance of "30p by friday" ?
That “offer” you speak of has been “imminent” according to these chat boards since we announced Alpala hole 5 results. On 30th January 2014. Getting on for 9 years ago.
DYOR.
You finish that post with dyor? Seriously?!? LMFAO.
See how much faith they got when an offer comes in then ,don't you believe it they know what's happening here dyor
Snuggz & Orthern....... 100% agree with both your points. This company has been directionless for years, ate in delivering anything, and now seems clueless as to how best to realise value from a Tier 1 asset. They have alienated all their shareholders, large and small, and the market has no faith in them. Yet as Snuggz points out, they continue to draw fat cat salaries, and pay for these by first asking the long suffering shareholders for more cash, and then selling off the asset small piece by small piece.
Moving back up again maybe Canucks know more than we do and know a bid is coming ,they are experts at mining related matters long time before many countries knew how to mine ,second richest country in the world for oil gas ,gold mining below russia
Mather has been up to his tried and successful self interest tricks once again. In one of his companies DGR daughter companies, AJQ, listed on the ASX he is proposing to issue around 223,000,000 shares to be issued as an employee incentive. Individuals get issued many tens up to a hundred million shares as well. (Refer to AJQ's last announcement of a few days ago.) We know from history of this fellow when he says 'employee incentive' he means the bulk will be given to himself and in far lesser quantities to other members of the Board and senior admin personnel. Remember the 180 million 40 and 60 p options to be allocated as employee incentives, about 50 million of the 55 million actually allocated were given to he, himself...selfish little devil. Don't forget the $5 million he also allocated to himself as a company loan. AJQ is controlled by a partner of DGR's recently appointed Chairperson and Mather, CEO, and both companies' board and senior management are largely the same. No conflict of interest here. DGR recently gave AJQ an additional $8.5 million (Aus) and in the last agenda for the coming AJQ's AGM came up with the proposal to allocate this additional 223 million shares to 'Empoyees'. In the last 12-18 months the same Board members have raised an additional $12 million to pay off debt and to finance a de-merger of AJQ but that has not happened and little information as to what is happening. AJQ's share value went from 6.8cps to just over 2 cps and an over prescribed share raising occurred ...guess which two board members under rite and received their 5% from all money raised. Within months a surprise mishap was acknowledged when the company contracted to provide fracking gel failed. Gas produced dropped off dramatically and still has not been resolved. AJQ's share value hovers around the 0.005-0.007 cent mark and these same Board of Directors believe they deserve 223,000,000 fully paid shares for what they have done and likely to achieve in the future. All the investors who raised the last $12 million dollars are down to about 30% value and the 6.8 cent holders of 18 months ago are down 90%, with a whole lot of dilution to boot. Reminds me of what happened when DGR de-merged their interests into SOLG at 50 pence and then the roller coaster to 2 pence ride when Mather bought and was given the bulk of his current SOLG shares. Surely it is now time to dismiss this fellow from SOLG at the next AGM in December when he has to be re-elected to the board. He has proven poisonous to long term SOLG investors and nothing has occurred to ensure private investors, other than day traders, will ever make any returns he and his cohorts have sprouted for well over a decade. Mis-information and mismanagement have been his/their strategic course and guess what he is now reversing his opinion concerning the sale so to monetorise and get true value for all shareholders. Yeah right!!!!!!!!!!!!
Moving back up again maybe Canucks know more than we do and know a bid is coming ,they are experts at mining related matters long time before many countries knew how to mine ,second richest country in the world for oil gas ,gold mining below russia
well it seems the only people getting rich from SOLG is the board of directors.
Orthern, I don't disagree with that.
As you say, mismanagement has been a hallmark of the company for a long time. NM is a buccaneering entrepreneur with a skill for exploration, but not necessarily the right person for the next stage. I also think he lost sight of his own strengths and fell victim to hubris. Everyone since him utterly failed to provide a clear path and tried to straddle two horses, which the market simply didn't believe was possible.
Thank heavens we now have some clarity. Now it's down to Sangha and co to prove they can deliver. God knows what happens if they don't.
Announcing the SR when we were cashed up and in the 30s, could have been transformational… now we seem desperate
Devils advocate here add, maybe he could see the PFS addendum wasn’t working, and knew the inevitable direction of travel of our share price.
If is a big word… but if the Strategic review had been announced waaay back, at original PFS time, (which I was screaming for and would have made perfect sense) we would be in a far stronger position to be inviting suitors to our asset.
I’m clear, it’s our boards appalling miss management that has brought us to this level.
orthern, and that stank, particularly when you bear in mind his utterly obscene remuneration. Completely unwilling to put money where his mouth is.
Read Marie's post earlier that's sums up a bit before Xmas and new year if they get there
It’s also nice to see the guy now in charge has a large stake in the game… Darryl chose not to buy any shares..
anon, the direct answer to your question is that companies very, very rarely publicly proclaim they are for sale. A strategic review is a euphemism for a sale process and is used by many companies. Everyone knows what it means.
I would imagine that while the merger is being completed, Sangha and Vujcic are going through their rolodexes of contacts in the mining industry and shopping the asset or the whole company to potential buyers.
We all like a household name - your Anglos, Rios and BHPs of this world - but there are a whole host of big miners out there who would have the means to take us out. I bet many hadn't heard of Jiangxi before them taking a slice of the pie through Valuestone.
To me it seem this is the value those guys add - the global network and the motivation to drive short term shareholder value. Whether the potential suitors have the appetite to take on a block cave mining project in Ecuador is a different conversation altogether.
Crikey my heads spinning, so what’s the consensus then on the agm and what will happen before hand and why should we vote with the board
As I’ve u turned a bit Solgold in 2022 has pretty much wasted 12 months and a lot of cash
A question if we were to joint venture cascabel with a major do we go straight into digging or will we still have endlesss years of studies that seem to cost hundreds of millions
Wussy I do admire your strong Will and defending ur notion of this going to production which of course it will but not by us
Have you not listened to a word from those Canadian shysters????
Gone are the notions that SOLGOLD will take this to production or become a new major in the making end of
If that isn’t clear enough to you I really don’t know what is?!?
We SOLG will not be taking this to production
Bn.c
I agree DBW…. But if this was the plan for the near term.. why raise such a large sum of 50mill by slicing off a percentage of future profits for any potential suitors? My only guess, and it is just a guess, is Sangha and his mates feathering nests
Solg have essentially said everything stops until the outcome of the Strategic review and Monetisation process.. So without any merger news, or any other corporate progress news, our share price now does what it always does in a time of no news.. it will slowly drop continually.
I hope the new guy wants the SR wrapped up as quickly as I do..
Anon that’s very fair
In my opinion we need to get the merger done next, we’ve basically said none or minimal drilling and all work on MRE and PFS curtailed…..there are two trains of thought now
It’s because we can’t afford it
It’s because there’s no point wasting more money if it’s being sold
I know what I think but until someone shows their hand it’s anybody’s guess
Or should that be HO HO HO !!:):)
Dbw correct will be sold for sure at what price ,I revised mine a bit this morning ,slated by copperpot but hey ho we'll see