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Had a small position of this, now made it my top 10 holdings. Thank you sellers
I do not think anyone has the right to call people out like Red Knight.
Like him or loathe him I do not like to see anyone get hurt.
Thousands of small SOLG shareholders are feeling the pain.
I remember when they first discovered it back when the SP was 8pish. This board couldn't believe it. The SP went to 23p in short order. They still have the gold. it's gold not coal! I'm surprised they are not churning it out after all these years. I was going to buy in when it dropped to 15p but didn't, however I bought in today to join the moaners. 10.78 x 50k. GLA.
Orthern- as normal we do not know what is going on behind the scenes.
Never did I ever think that we would see these prices again.
We spend 6 years digging holes, we find a pot of gold and copper , we have very large investors with great influence- we have a late entry in to the fray with Jianxi CGP joining the Solg family amicably this time and the price tanks on Caldwells presentation.
You could not make it up!
6 years work destroyed in an hour.
Bring back Nick Mather the Donal Trump of Junior miners.
Funny how the world works. Unlisted company I invested in the same day as SOLG has just received a 10x offer valuing the business upto twice the current MC of SOLG. Amazing what good management can achieve. Any hope of that here? If there was a clear plan I might buy more. One can only hope.
I suspect he has had the margin calls and couldn’t raise the funds, hence the silence
It was only a matter of days ago I wrote if Solgold are still around and focused on Cascabel in 2025, we would be a single digit share price...
That post now seems very optimistic.
I wonder how Redramper is feeling these days, given he used to write essays attacking me for daring to question his mighty £1-£2 valuations...
Add, I don't often write to Solgold to complain but I did today. An angry short little letter. Enough is enough! I guess there will not be a reply. Eish
Its a no...
The like of Darryl and Fawzi must be laughing in to their multi million dollar redundancy pay offs.... which is where the Osisko funding went..
I'm sure Scott has a fantastic redundancy package waiting for him.... far more lucrative than his 200k a year he is getting for his excellence... and I'm willing to bet my house its not performance related..
Well in theory Scott should be gone on the basis that he knows SOLG need cash next year as it runs out in June. So if you know that, and you know you have sweet FA to say for 6 months, then you'd get them placed at 17p+ (weeks ago) and bank £17m or $20m in extra funding and buy the company an extra 5 months+. Instead, he delivered a market percieved 'weak' update and has since done nothing with those 100m shares. Which at today's prices will buy SOLG no more than 2 or 3 months at best. If or when they get placed and price is low... some will be out with knives if Maxit of anyone associated with Bob and co take up those cheap shares.
My biggest concern short term is the lack of volume and that's down to Scott and co with delivering zero forward plan to invest in. But that aside the most concerning thing is that the Chinese appear to have stopped buying in the open market. They were actively buying when the share price was 16p/17p/18p+. Based on low volumes of late, they are sitting on their hands now and I don't like that one bit.
They cannot get away with having an indefinite strategic review going on forever. That is the dumbest corporate strategy I have ever heard of, understandable though as it basically exempts the board and execs from being held to account. On what planet would this be acceptable? If it was Scott's idea he needs to go, this is not what we were sold in relation to the merger and appointment of Scott.
We are obviously in some sort of freefall not seen since the dark days of the covid panic.
So:
1) Are people in the know waking up to some realisation that this company is unravelling or fundamentally failing and getting out?
or
2) On very low volumes, the SP is just reflecting the sick and tired feeling many small investors are harbouring now that everying simply seems to be have been kicked into the long grass again, despite the "fast and smart" intentions behind the merger?
So something fundamental and terminal, or a passing fug? Or something else?
Orthern, I'll take that as a no, then.
You could Scott ask some very simple questions..
Can you explain how a successful business can continue endlessly without a defined, chosen strategy??
Does he have the intellect to understand that telling the markets the business will continue to coast along without a strategy for an undetermined amount of time, is not a good for any business... and does not show any competence.
Given the parties that may be involved in buying Cascabel or Solgold have far more mining experience than we do, why do we need another, new PFS to show them the best way to progress it?
Does he understand that since he first mentioned holding the Cornerstone shares, as a way of having 30million dollars of funding available if needed... those funds have now halved in value?
What price does he think he could get for them if he needed to sell them next week ,or the week after, or in 2 months time, if the price continues to bleed away?
He knows he is unemployed come December... and he will take a nice big payment as he leaves...
Good job Scott!! your worthy of a job at UKOG when you are shown the door here..
Have the new team orchestrated this? Any one in touch with Maher ? Any angry shareholder with a louder voice? All this is an unbelievable joke.
TI, I can't disagree with any of that.
It has been proven copper quiet near to the surface answer is creat open cast mine and start producing
Gap,or no gap it's another tranche for mui.....
Could not resist to pay well under 11p.....
Will continue to do the same at this level base on
Available funds.....be brave etc. In mind.....
:)
If we keep dropping like a stone he'll be gone before the AGM. 23% down in a week is hardly a vote of confidence. The market has no confidence and this will continue to tank until we get clarity on what on earth the SR deliverables are.
Sub 16 now and I think that's the lowest RSI ever on SOLG. Last time SOLG hit this low on the RSI was Lehmans and the financial crisis in 2008/9.
Difference this time around is that it's been on minor volume. When we had the buyers involved around last year, we were seeing volume days nearer 10m to 12m. Now even down here in the sub teens we are seeing virtually no volume. I mean ... £100k value traded is nuts. Granted some lighter wedge trades might be the toe end of CFD's but the volume should be much higher at these levels. Like nearer 10m+ especially with 3bln in issue.
@addicknt, I think before we can answer with a yes/no, we should ask Scott and Bob for a clear and unambiguous statement about the current price freefall and the lack of clarity about the strategic review.
Even factoring in that there will be things they cannot disclose, if they are made to understand that we ask for that PRIOR TO THE AGM in order to decide whether or not to keep them of kick them out, then we can choose how to vote.
Personally, I buy what Scott says, +/- some, so my starting position would be a YES, however we can see what the effect is on the price so it's still not good enough by a large margin, and the more the price drops the more one needs to accept that the exit price might be a lot lower.
In essence, whatever the actions and relative timing to arrive at a viable resource, we still need much better communications.
Normally / surely a speeding ticket/ RNS will be issued in these circumstances! Brokers where are you...mgt where are you....stop the freeking rut !
No way to any of the board (in case you were wondering :)). Sorry maybe yes Maria she seems quite competent and nice.
Unless..... one hell of a serious update lands with concrete plans showing a clear path to the ACTUAL realisation of this so called shareholder value myth they continue to say ad infinitum. In other words, the results of the strategic review.
Voting against Scott but for anyone else - just to send a message that there's he cannot just keep banking his wage cheque for another year
Probably yes
But probably no on twigger
But did anyone else find it difficult to vote last year at the agm , H&l seemed to make it difficult compared to the year before with the begging letters from Solgold
Anyone else find this ?