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Wow! Thats a big leap in assumptions wine gum
I agree Shark
But remember Nick said the intention was to sell Solgold to a major …….. your guess is as good as mine
Interesting posts and information over the last few days. How much longer can Solgold acquiesce with such important developments dripping into the public domain without providing a formal explanation of what is going on?
DBW, the Andrew Taunton interview in BN Americas implied that Porvenir & Helipuertos are being shopped to a potential partner for a JV (at least that was my understanding of it).
"Taunton: There are a number of companies in talks with us right now. We’ve presented a series of concessions to see if any of these companies are interested in linking up with us in developing the other areas that we have.
We have selected two. One is Porvenir, which is far to the south, in Zamora Chinchipe, and the other is Helipuertos, very close to Solaris, in Morona Santiago."
I was then confused by him saying this about Hueca and Blanca:
"BNamericas: What happened to La Hueca and Blanca, where you started drilling?
Taunton: La Hueca is part of the third-party interest group. We have also offered Blanca to the same group."
Is 'the third-party interest group' the same group interested in Porvenir & Helipuertos?
Does anyone have a better grasp of what exactly is being said here? Again, frustrated that we are having to sleuth our way though online articles to learn about this (important) news.
Full article in English here for those who missed it:
https://www.bnamericas.com/en/interviews/solgold-ecuador-can-be-one-of-the-new-major-copper-producers
He did say selling Solgold, I’m hoping it’s Cascabel and Porvenir is “ the next cab off the rank”
WineGum, the key question is, what was the strategy which has been changed?
Was it to fund Alpala and head for production or, was it as Mather revealed last week, to head for a different outcome? Do we believe the company's most recent statements, or do we believe the most significant NED?
Confusing, ain't it?
Be careful what is implied Lunch...
If there was any question of impropriety would the said person still be with the Company?
So I favour the positive view in your second line...
Cheers
Ingo doesn't finish at SolGold for another 6 weeks.
He hasn't left...gardening leave...so could already have his next role...
what is this change in strategy he is alluding to ? a potential sale, if it ever happens, was always a possibility!!
addicknt, pure speculation, but my hunch is the last of the three. New CFO on board.. shift in strategy.. maybe he just thought he'd done as much as he could. Alternatively, a lot of the work he's done over the last 2 years or so might no longer be relevant due to a change of strategy.. which would might also irk someone to the point of throwing in the towel.
It's interesting that he left without first having found another job. Was he given a pay-off as part of a redundancy package; was it involuntary (doesn't sound like it), or had he simply had enough?
SP down 3% since Ingo's announcement hit LinkedIn...
Could this be Ingo's next move...? CFO?
https://www.agnicoeagle.com/English/about-agnico/default.aspx
rcgl, your final paragraph would fit neatly with Mather's recent statements.
BHP moved their primary listing to ASX and consolidated the two topcos. The shares are still listed on London, and you can still hold them in an ISA. Basically same situation as Solg having its primary listing on London and a secondary listing on TSX.
Agree we wouldn't want a cancellation of the UK listing but an ASX listing whilst maintaining the UK listing shouldn't prevent us continuing to hold in an ISA.
Interesting line from Ingo "the strategy has evolved"... What does he mean by that? The strategy is no longer to finance and build Alpala by themselves?
Sound thinking addickt...
1 More than likely as he is mainly Europe based. Keith and Elodie are London based, Maria is Ecuador and Kevin is Canada based. The 'corporate HQ' in Brisbane gives Nick even more influence...
2 Probably not the reason as his primary role was to fund Cascabel
3 Unlikely reason. They'll need a fund raise soon...looks like that might be Brisbane based...?
4 As I've always said...City/Institutional Investor management should be the primary role of a PLC CFO/GFD
5 Consequential rather than intended.
Conclusion...this company is very definitely being driven by Darryl now...but what's the end play...
PS Might explain why DC's appointment took so long...NM vetoed anything except a Brisbane based appointment...a 'coffee' relationship in one of Australasia' fastest growing business districts...
This asks fundamental questions...
Darryl, Ayten, Twigger, Clare all based in Brisbane...
OK so BHP are cancelling their London listing, but thats mainly because they had two 'parent' companies and it doesn't make sense anymore. 96% of investors supported their move.
https://www.smh.com.au/business/companies/the-time-is-right-australian-investors-back-bhp-s-move-home-20220120-p59pxc.html
In SOLG's case the worrying thing would be that assuming they maintain their London Listing, they will be more remote from their investors.
More worrying would be if they cancelled their London Listing because we would be offered ASX shares in exchange (a la BHP) which of course involves currency risk but more important would be ineligible for ISAs...
Toronto is the funding future however...lets hope there's a bid before any of this happens...if it does...
some stuff doesn't bring confidence.
Possible interpretations:
1. He didn't want to move to Brisbane.
2. The role has changed.
3. There is not going to be any action for which his skills are required. (this would imply fund raising/any other form of corporate transaction.)
4. The strategy doesn't need two people capable of executing corporate transactions - we have a CFO
5. Cost saving exercise.
Number 3 simply cannot be true.
Btw RK, I had always assumed he was your "mate".
Well, that is interesting! Good find RK.
Just now on Linked In
"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. I have deep gratitude to our investors, and I am convinced the excitement will continue. My last day at SolGold will be 5 September and I am actively exploring opportunities to take me forward to something new and exciting."
And yes...he was my 'friend'...
Agree on the longer time horizon for graphene. We should be able to cash in on SOLG before graphene becomes a real contender.
Hamo...the whole subject of copper/aluminium/graphene is fascinating...
It is well worth taking the time to read this article which suggests that the copper crunch is unavoidable, but in future CCA (copper clad aluminium), copper or aluminium infused with graphene, or....much further down the road, graphene 'wires' is the future...
https://hackaday.com/2021/09/30/the-coming-copper-shortage-aluminum-or-carbon-nanotubes-to-the-rescue/
But I'm absolutely certain that the copper price will recover fairly swiftly and that SOLG will be taken out well before we need to worry about graphene...
Red yes I read it too that's one reason I've included them in a takeover also I think we need to look at Anglo American and Fortescure reason ,Chile taxes on miners that happens then they'll be clambering to get into Ecuador mining imho