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Wise words as usual rcgl2.
I guess there is/was a potential middle ground. Carve out part of the exploration folio so SOLG still retain upside - spin outs, JVs, sales ... or even handing some grassroot licences back to save (relatively immaterial I know) spend commitments.
Have c5 priorities at one time (more than enough for SOLG to handle), another 10-20 lined up with geo/surface sampling to identify next priority, the rest someone else is taking a lead on.
Probably a huge simplification I know. And may result in SOLG handing over some future Tier 1s.
But the current approach doesn't demonstrate a logical and clearly communicated strategy (on exploration / regionals).
At least to me.
(Sorry this is going over old ground!).
Well Irwin himself said £1 was overly optimistic
Calm down people… it’s rock samples.. not drill cores..
Anyone that’s been around exploration companies long enough knows that rock samples can amount to nothing..
This is more lipstick on a pig before the AGM to appease the plebs..
The interesting part is using Mather not Caldwell
All in!!!
Suffer in your jocks BHP!!! This will force for the bid!!!
And that suggests the possibility of an open pit mine for gold...
Remember we have several other gold prospects...Rio Amarillo, Helipuerto, Porvenir, etc.
What else have they got up their sleeve pre AGM???????????
For anyone (like myself) who didn’t fully understand the meaning/ significance of “boiling zone”
Epithermal refers to mineral deposits that form in association with hot waters. The deposits form within 1 km of the surface and water temperatures are about 50-200 degrees C. Shallow bodies of magma supply heat. The rising hot water carries dissolved gold and other elements. The water boils about 300 m below the surface and hydrogen sulfide gas escapes. This causes the gold to precipitate. The boiling zone is the target for mineral exploration. Veins commonly host the economic minerals
Mid to long term holders will remember what Porvenir Hole 1 did for the share price. We flew to 44p ranges within days from low 20's.
Just imagine how the share price would fly if we knocked out a few 1000m holes at Bianca?? It only costs roughly $300k to $500k per hole dependent on drill pad locations of course. For $3m we could have 6 or even 10 holes drilled between Jan and March.
Rcgl2,
Perhaps restarting exploration was a condition set by BHP and Newmont?? Perhaps they said.... get exploration moving again and we'll vote for you and give you some slack.
The irony is... the recent RNS is all about ENSA indirectly as it's potentially a bolt on to Alpala/North Ecuador. I'm sure Noboa will be excited too as he holds a stake in the block next door.
Most super majors just want to see the minnows doing the early exploration work. It's how they like it.
SOLGOLD came back to life today with that RNS. Exploration is the lifeblood and what excites people. Scott perhaps now realising his error and realising that he took the helm of an 'exploration' company not a development company yet he's run it as neither.
So perhaps SOLGOLD's return to exploration (date pending lol!) is all about buying votes or all about realising what shareholders really want.... which is kinda the same thing.
Adikt your recent post referring to nobody knowing what scotty boy thinks.
Is one of the funniest things I've red on here.
You, my friend spend your life telling us what and why scotty boy does what he does.
Also, how long are you going to keep spouting about us talking to 2 or 3 majors, before that theory goes the same way as most of your others
At least theres more PI interest in buying, although it looks like somebody has taken the opportunity to dump 174k shares...
The earlier comment about the thinness of the market bears out my concerns about liquidity but also means that concerted buying would see this fly...
I'm simply acknowledging the consequences of somebody else's idea...
So much gold at surface only 8km from Alpala can't hurt our takeover prospects...
Maybe Scott is sweetiening the pill for Gold miners like my favourite, Barrick to bid...?
Will this rise stick, and plus, by cob / the day after the night before (hope so as this RNS has gold all over it)....if not, its BAU and market will only get excited with a binding offer ! Everything else is tosh.
Lots of idiots don't understand the game being played by those wanting to create instability.
Our company has never been so stable and strong.
Incorrect.
Their plan is clear - to stop releasing news so that it avoids unwanted attention on the company.
By keeping mum, the company continues to advance cascabel which in a short period of time, will add much more value when we can demonstrate a turn key project for a $1b capex spend...
When Solg was exploring and regularly releasing drill results whilst claiming they would defend against a takeover, many voices on here were claiming a takeover was nailed on and Solg wouldn't exist by Christmas (every year).
Now the company has wound down exploration spending while it tries to sell itself or monetise Cascabel and there are calls on here shouting to get back to exploring!
I just don't understand it... This schizophrenic strategy of flipping back and forth between trying/hoping to sell and drilling/defending against selling cannot keep going on. It achieves nothing but constant dilution and the ever present risk of a funding failure and the wheels coming off the whole thing. Solg has too much on its plate to develop Cascabel and try to explore the rest of the licences. It needs to do one thing and do it properly, then do the next (if there is anything left in Solg after the first major monetisation event).
BBG, they don't understand the consequences of their actions. The company has been riven by division and disruption for a very long time and to create even more at a time when we're actively talking to interested parties is just utter madness.
How many more RNS , before the AGM, they seem to be plucking them out of thin air at the moment?
Added a few more , on the back of the amazing gold results
Scott is achieving great success
Of course he can't stay as a CEO. What an absurd idea. So shareholders vote him down as a director and the company then think it's a good idea to keep him as CEO?? I think some of you need to remember who owns the company? It's not the CGP boys, it's ALL shareholders. And if or when Scott loses the director vote, that's a unaminous vote on his inability as CEO.
Some of you on here are living in another world.
No CEO continues in his or her post after being booted from the board. End of!
Now, lets get Mather back in and get back to exploring again as those rock chips are very exciting. We've barely scratched the surface. Don't listen to Scott and co... ... we are not doing any exploration... who does he think he is!!?? We are an exploration company... so move along Scott and let us shareholders get on with proving up our amazing folio while your mate Bob tries to muster the power to rediscover his swing timing on ENSA
Did you fill the rest of your order mercedesman?
Scott wants maximum return on his 90m shares.
SM, indeed. It actually states that the announcement has been approved by Caldwell.
Isn't it the case that NM is the director responsible for exploration? Therefore it makes perfect sense for him to add his comments.
To repeat what DBW said...even if Scott gets voted off the Board he could still stay as CEO...wasted votes...
Fort, Scott is CEO of the company and his name is on the RNS. It wouldn't be published without his say so and certainly not with his name on it. You are talking b*llocks yet again.