Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Solgold should not have to hire PR and communication agencies… we should just have a CEO who is capable and able to communicate during interviews and presentations, without sounding like a poorly trained used car salesman, fumbling around for generic niceties that don’t answer the questions being asked…
He is being paid 200k a year to just be a caretaker until it’s all over… a well paid useful idiot if you like… the very least I’d expect is an ability to project and promote..
I thought Chris Stackhouse actually came across quite well during the presentation. When asked a question, or to give clarity, he answered in a capable way with actual information that was pertinent to what was asked… a high bar indeed..
It highlighted Scott’s poor level of ability to confidently address issues that were asked… instead we got the kind of fluffed responses I’d expect from a low level junior politician.. just speaking in the most general terms, keep repeating the same anecdotes about being able to walk to the office, or mentioning a new phased approach… even if that is not what was asked… and always coming across as shifty…
The market hears talk of aiming for a release/update around Q1 2024… and due to Solgolds track record, probably automatically assume that means MAYBE Q2…
What can our board point to if asked how they spent the 50 million Osisko money? What a waste…
Even the 16p Jianxi bought in at… at a market discount at the time… seems like a long way back now.. what a waste.
Scrat - I think the easiest way fowards would be to sidetrack the likes of Maxit and their hideous fees. Sack citi. Sack the entire board. Ditch all the useless hang ons like Twigger and co. Then stock ENSA or SOLG as a whole on EBAY... auction it with no reserve and lets see who's playing silly bu99ers then.
Job done!
Sometimes you just have to stop playing games and just get it done.
Get the auction ball rolling SOLG as those 100m CGP SOLG shares are not going to buy you more than 2 or 3 months of additional cash at this rate when you were intimating that you might get at least 7 months worth.
The only one saving grace is that the way the last Ecuador gov red tape deal was signed suggests there's $25m coming from someone else as first down payment to Gov is never going to come out of those 100m shares.
So just tell us who it is Scott? Coz you obviously told the Ecuador gov who it was.
Nick Mather wasn't voted out.
He stepped down.
Whilst not selling the rump of my holding I’m glad now I trimmed my exposure. This is now very annoying. An endless strategic review is ridiculous, the board is there to be strategic as their day job, so not an event. I’d put up with the idea simply because when the brakes come off, some auditable basis for a recommendation to shareholders is needed. But the sp harm is now getting out of hand. Agree with the comments about a PR company although frankly a listing on eBay would do me. Buy it now £2Bn.
Totally agree (for the first time ever) with what you say
I personally voted for him
All those who voted out Nick Mather
Must be regretting it now. Be careful what you wish for.
They need to nip the SP decline in the bud. Suggest they appoint a PR & Comms agency to build a 6 and 12 month strategy. Stop SC speaking aimlessly. Give a definitive end date to the SR. Identify quick wins in other tenements. No news is bad news and watching SC present is like Dads Army on repeat and depletes confidence. Clearly Fawzi was doing something right. The mere use of the word SR is weighing us down and they need to stop using this term asap. Of course carry on as normal and single digits beckon. We need transparency and market needs to see we have a plan.
Well said DM.
*here
There's definitely been a read across here today DM but nobody wants to have the conversation.
It seems if you aren't hear to post positive things then you don't hold. There's an aversion from most to having the conversations that are relevant.
But agree with your thoughts as usual.
Apologies made DinnermMoney - you are correct about share price - down only 30 odd %
China’s demand for oil and copper is ‘booming,’ says Goldman Sachs
Cnbc news on copper and oil.
So we are down 75% since the Cornerstone takeover of Solg - Scott and Sangha have wasted a year on a strategic review that wasn't, no clue as to next steps - Cornerstone played a blunder - maybe sell our chicken farm expertise to KFC
Clearer picture now - under 4 million shares traded (half a million quids worth) but £27million knocked off the MCAP.
We have had industry professionals say its only borderline economically viable... Crux... and we all chose to just hope they were wrong.. That turned out well...
that's on us
But Scotts performance, as someone that is just there to front the company until the really important people behind the scenes try to monetise a way out of the mess, has been nothing short of an abject failure!! Good job Scott!!
Add - a tiny portion of the free float yes but worth considering that today's volume is shaping up to be 2-3x the 20 day average volume.
This isn't me suggesting a grave issue - at nos rage have I done that. It's clear though to me at least that SolGold stands to be a poorer performer in a sector that is generally struggling due to a weak investment case.
Sean, absolutely right. Every time one of our CEOs has banged on about production, we get hammered. You'd have thought the message may have got through by now. Being charitable, I wonder if he says it because he doesn't want to spook the government?
I'm with you there Bozi. I'm 100% for a sale and we cannot afford mistakes or bad management (actually it's inexcusable at this stage). Ridiculous talk about building a mine hasn't helped - it's absolutely toxic to the SP. We can't force a sale but we can stop with all the self-inflicted wounds.
Sean - no it doesn't but when the company pushes the next deliverable to being at least 6 months away, PIs fleeing is the inevitable result.
Scott could have got his foot in the door, went on a PR overdrive, reworked the PFS quite quickly and generally resuscitated the story.
He chose not to do that.
Bozi, I can certainly understand why some small private investors are giving up, particularly those who are driven by what they see on a screen and panic accordingly. Of course, there will also be those who listened to Caldwell last week and either weren't impressed, or who actively don't believe him - and that's fair enough. But bear in mind, we're talking about tiny numbers of shares here.
£360,000 worth of shares traded today.
£17.2million knocked off the MCAP today.
Doesn't add up does it? Low volume is a distorting lens.
It really is shocking - remember when sp was behaving badly, much like now, NM came out and retook the hot seat and it was onwards and upwards....water under the bridge....this smells of a rabbit out of the hat job....should I throw in the kitchen sink and buy more....quady's breakeven must be near !
We need a big GLA.
Fort - which industry professionals told us it's a tier?
Mather - director and heavily invested.
Irwin - heavily invested.
The PFS also gave us an IRR of 19% with a payback of almost 5 years on a Capex of $2.7bn. Chunky NPV but with a sizeable discount factor for a range of reasons.
You continue to get it wrong in everything you say Fort. Maybe give it a rest. The only people who want to hear it are those who need some reassurance from Fort's big words and grand ramps. Please bring another to the table soon...
Can you blame PIs chucking in the towel? I can't.
Risk management and preservation of capital are key for PIs at all times and the SOLG SP is weakening all the time.
So yes, as little as you are I like it, £360m is where we are right here right now. Whether that's us in 12 months, a lot depends on the company.
It is what it is
Cascabel is still there and if there was some huge problem causing the drop I suspect volume would be way higher
I really hope they don’t try and place the 100m odd shares with friends …… it already smells bad .