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Virtually word for word what i posted last night with regards insider investment, except this time from the horse's mouth.
Maybe I can warm to Bob after all...
Hi Add, Fort,
I got the OK to publish the following excerpt from his email response to the concerns which I raised with Bob:
"You join nearly 100% of the SOLG shareholders being very disappointed with the companies performance for years.
However, as I have said to many equally frustrated shareholders, SOLG is 100x in better position today than it was a year ago.
I’ve been invested since 2016, but there were over 6 wasted years, that required a lot of effort to turn around.
We are highly motivated to secure a great outcome for shareholders and have invested serious dough.
We are not in the pump and dump business and know the only way to create real value is through a proper monetization event and working as hard as we can on it.
I don’t know any other team that could have turned around SOLG as quickly and efficiently as we did."
I hope that LTH will be as reassured as I am.
Dbw. Go figure how posters feel, who have spent months extolling Caldwell virtues. To today realise he's thrown them under the bus.
In fairness to him, unlike adikt, he realised we didn't have the highly profitable tier 1 mine solg roasted of.
And to sell it the price had to colkapse
Go figure what.
Lol 15 mins ago
Vol bought 1.65m
Vol sold 1.44m
Go figure ??
Anyway it’s too good a day to waste watching this
I can already predict Maxit, Scott and the rest, all boasting, and back slapping about selling, at a large premium to the share price on the day any monetisation event takes place... Anything near 20p will seem like a result.... and THEY WILL hail it as a fantastic success....
Bonuses all around chaps... another successful sale at a huge increase to market price on Bobs record...
Scott can collect his bonus for being the useful idiot.... and as the months fade away, convince himself he steered the Solgold story to a successful conclusion..
Adikt, you seem to have missed the point, he has also overseen tha sp COLLAPSE. No matter how much you squeel and whine, I've said for months were going nowhere.
WE HAVE NOT. I WAS RIGHT
You've said for months we will get there under Caldwell.
WE HAVE NOT, YOU WAS WRONG.
Tell me again about those brokers on SOLG WEBSITE FORECASTING 70P A SHARE.
You no those well respected brokers
Get Nick back to sort this pile of crap out.
RCGL
Exactly….. so it might suit some if it were to drop …. Just a thought
FWIW I also don't think the value of the 100m shares they own is based on the current SP, because there's no way anyone could buy that many shares in the market without materially moving the SP up... even if it was done over a period of time. The daily volume here is so low it would mean prolonged buying pressure and the price would be moving north.
If someone wants to acquire a strategic block of tens of millions of shares, they will need to pay a premium to market price.
10p Party again Yay! The only one who called it, ok!
Good post rcgl.
Eloro, sounds interesting.
Fort, Add, I had an email exchange yesterday with Bob in response to my concerns. I will obtain his permission before posting an excerpt from his email response which I believe LTH will find reassuring.
Suffice to say, I believe that we can have a sale without Scott, so I will be voting no. I will not be selling my solg shares. I am holding until the fat lady sing.
The strategic review was a condition of CGP accepting the takeover offer. I just take it to be official conformation of a change in strategy from "try to fund and build Cascabel ourselves and hope that triggers someone to bid in the meantime" to "actively seek to sell Cascabel or the whole company and also figure out the best way of monetising the rest of the portfolio as well."
I don't think Scott has wasted this year, as I said the other day. I think he's doing what needs to be done to make Cascabel as saleable as possible and at the same time stop the rest of the company from bleeding monet while that happens.
The idea that BHP will just come in, buy Solg, rip up all plans and relationships with the govt and start again from scratch doesn't seem plausible to me. And I don't think it's BHP they are negotiating with to sell Cascabel anyway. I think the potential buyers want a shovel-ready project with all licences, plans and agreements in place so they can start construction as soon as possible. Solg has all the relationships with the govt and local authorities and I think buyers are happy to let Solg wrap those things up. I also think before anyone commits billions to fund this, they want to put a floor under it with a base case PFS that works with lower initial capex than the current proposal. As Stackhouse said in the presentation, this is the "show me" phase. Hence the need to re-do the PFS plan and get it right this time.
Also I don't see that BHP and NCM/Newmont's interests are aligned with us, unless one of them magically decides to throw a couple of billion at buying Solg. Scott has said they didn't want him as CEO, there's a reason for that, because they know he's been installed to try to sell Cascabel to the highest bidder, not to just keep developing it through more and more dilutive to equity placings funded mainly by them. So I don't see why helping them get rid of him and destabilising the company at this crucial moment is in any of our interests.
Therefore I will vote in favour of him.
So why don't you tell us what DC was doing prior to his sacking? Had he instigated a strategic review? Had he got a renewal of the licence and had he negotiated the terms of the exploitation agreement? Was he on track to get a revised IPA? Was the company under the control of the CGP interests?
It's not my fault you can't see what's changed.
Metoooooo. That's funny no one wants to talk to me.
Bearing in mind I'm the only one to have called where we are.
I would of thought they would be queuing up for my advice.
Solg clearly had no chance of selling solg at anything above 10p.
Hence the collapse, Caldwell has missed us. Yes adikt, misled us.
If it doesn't drop anymore a sale at 10p plus a 60% premium for the sale = 16p a share.
That's if it drops no further.
Still a 5 x bagger for me, but genuinely hoped for more.
Heading towards 10P. Where is this going to stop
Needling, no one wants to talk to you. People want to discuss their problems. Have some respect for yourself. Filtered.
Adikt in all fairness when I said nothings changed, and you hysterically posted things have changed.
I'm big enough to accept I was wrong and you was right.
Things have changed mate.
Changed for the bloody worse.
Monochrome the level of the first bid ( if it comes ) only matters if there’s no more than one interested party…
DM, actually there weren't that many and I didn't see any which were asking for details of confidential information. I admit some were quite pointed, mine included, but it's about time these blokes gave us answers to the pointed stuff and not just anodyne BS relating to questions they feel like answering. They do this at agms as well, and it really gets up my nose.
If they had no intention of supplying answers the muppet who was in the chair shouldn't have said they would reply.
Could be who knows ?
Could be looking to place the 100k+ shares with mates at a discount ?
Could just be unfounded market panic?
Just remind me who's been saying for months ever since the mid to high 30s, that we're going nowhere with the incumbent management strategy.
Oh I remember, it was me.
Just remind me who's been lambasting my every post on the subject.
I think we know who they are, there the same people who are today seeing the reality of there blind faith.
What happened to dbw.
What are your views on the prospects, padmaster.
My view for what it's worth, is the sp had to collapse to get any body interested in buying us.
A highly profitable tier 1 it clearly is not.
Adikt have you heard that expression about egg on your face. And what about those brokers you hold in such esteem.
Good on you eish for writing a letter too solg.
The mind boggles with the self importance and influence we retail investers think we have.
So.. Possibly there might be a low offer hanging around, maybe at 20 to 25, and he knows it'll be turned down unless the pain is stepped up. Arent they compelled to submit such an offer, unless it's more of a chat or plan discussed?