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RK selling? I’ll believe that when I see the TR1.
Surely the problem is that the strategy he set out takes time, particularly when you take into consideration the mess he inherited?
He wants to sell the company, but the fact is it was in no state to be sold, specifically the lack of licences/IPA etc. It seems to me he's taking the right approach and we just have to accept dealing with the government and developing Cascabel into a turnkey project is no easy task, and it's a great pity the previous CEOs didn't make more progress in these respects. I shudder to think where we'd be now if DC was still trying to push ahead with his production fantasies.
I promise you, I'm finding this every bit as painful as you, but I see SC as being our best hope.
Uk financial year runs April 1
Canadian runs Jan 1
Maybe some consolidating tax losses to carry forward.
They are not empty words if there is clear evidence of a strategy and of its execution. I don't think this is the case and the market seems to agree. I wish it were different. Still holding but it's painful to see value being destroyed whilst our cash gets spent so merrily
RK unhappy and selling.
Keep it up sh*itcarters.
Well if the company policy is to wait until interest rates meander down, then we are all seriously farked, because the Fed Chair, Powell and Jamid Dimon have both stated, clearly and on numerous occasions, that rates are NOT coming down anytime soon, and may well be increased further into 2024. The market has got it WELL WRONG on this. ust because everyone wants easy money and stimulus doen not mean it is going to happen.
Powell is gunning for the EuroDollar markets and to destroy the ECB and to stop the reckless and out-of-control Biden spending. This will continue until the EU, Biden and WEF are destroyed and Wall Street and traditional US business intrests regain control of the Dollar and US economic policy, and the wokesters and Commies are destroyed.
Christ, I hate the Left.
Magoo, so when a CEO outlines what his strategy is, they are no more than 'empty words'?
And no, I'm not happy where the share price is, but I do understand what he's trying to achieve.
Hi Addictknt, the october update was great. A wonderful series of empty words that deluded everyone, me included, that the "culture of non performance" was finally behind us. After that meeting the SP has lost a third of the value, we spent the last few pennies we had in the bank, we found some rock samples and a forgotten core that were laying around. For some reason the market is not impressed. But I am glat to hear that you are happy. You must be one of the shorters..
DBW, the volume is still negligible and there have only been 100k(£7k) more sells than buys. How this explains a 6.8% decline is the sp is beyond me.
Now 7.29p could well close in the 6's by end of this week 😭😭😭
Go figure... someone is playing silly buggers and wants as many of those shares out of our sticky hands, what with Xmas etc round the corner a few may well have to yield, luckily not me but still very perplexing as to what the hell is going on in that head of scotts ?
To answer my own question, they are defined as being "Subsidiary Shares".
Feels like we still have a seller.
Bob will know lol!
Bozi, surely they would be described as treasury shares of the subsidiary company?
They're owned by SolGold Canada.
So they'll be for the officers of that company to vote I'd have thought.
NMM, I think it was referred to in either one of the documents or a Q&A session. In any event, I think Fort's observation is right - the management can't act as proxy for all shareholders by casting votes on our behalf.
Hi NMM
I agree the IPA is the more important.
I still think we'll see the phased plan in Q1 though. As I understand it, this isn't being timed to optimise the IRR it's a reworking of the plan into phased development and the company has no more time to sit and wait for interest rates to meander more favourably.
Addicknt - re: voting rights I've never got clarity.
Anyhow, going to stop posting now, as whenever I post the price seems to drop.
NMM/Fort, point taken, but I recall SC, or someone from the company, saying they carry no voting rights.
Hi addicknt, they aren't Treasury.
11 May RNS states no Treasury shares held.
They are held in a subsidiary - Solgold Canada inc.
I disn't think the 157m shares were held in treasury?? They are held under CGP sub (or renamed sub) are they not?
So assuming Newmont and BHP vote him down that's 20%. Chuck in Norges and a few angry Fundmanagers and that's got to be nearer 10%. Then just throw in 10% for a retail base which likely is around 30%+ and you have your 40%.
So 40% CGP vs 40% non CGP.
Mmm... that would mean toast for him for sure.
Chucking twigger under the bus won't save him his job and hide the woeful last 12 months. But guess he's desperate.
Fort, Treasury shares do not have voting rights.
I can't remember the exact ownership swings but assuming CGP, buddies, Mather et all have near 40% now, Scott should be safe. But if 40% or more vote him down then that's going to look more like a 50:50 scenario and that would mean he needs to step down.
Incidentally, can anyone tell me whether the old CGP shares ... all 157m of them... which are owned by shareholders are available to vote on?? We all own a stake in those shares. So if not, I presume they are not allowed to vote as they have no direct owner unless of course, it means management vote on behalf of those 157m shares?
Anyone know?