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Fort - could you let me have the address and time for the free beer party with the naked mermaids please?
Good morning chaps,
I wasnt able to listen in yesterday as I was at my nephews wedding on Weds deepest Essex and traveling home yesterday- Leez Priory - lovely venue
From what I have read so far nothing earth shattering on the presentation (I will listen back when i get a chance) however I sort of expected that.
Only my view but I think it feels and seems like very little happeneing as the goal now is to get the company sold - in what guise that takes I have no idea and as for timescale also no idea - I'd like to think that by the end of the year we will have the corporate transaction many are waiting for - but that would be a pure guess on my part.
I'm with Bozi - you can remain invested and indeed buy more if you feel the sale is coming although at the same time feel dissapointed that maybe the journey (and its been yrs and yrs for many of us) maybe wont yield the return a good few of us would have liked - so a twinge of dissapointment would be natural
That said I'm in the camp of 40-50p as a final outcome and higher if we do indeed ever reach a competitive scenario - could happen but who knows.
Anyway its been good to read up on comments over the last few days.
Just one last thing from me on a couple of points - it was Scotts idea to reach out and get closer with PI's and I think it was already in the plan to do so prior to my call- I merely agreed and said that I thought it would be a good idea - ie it certainly wasnt any pressure that I put on - I'm a mere investor ! However just maybe if you read between the lines its a positive that they did this with no new news per say as typically companies provide a session like this as they have something to announce - they didnt and offered themselves up to be shot down which I think is a positive. My own opinion is they are positioned for a sale and as such are watching the pennies and not driving forward with much else other than things that can help and make this happen.
All the best and good luck - hopefully we are on the home straight and hopefully before my mortgage rate jumps in 2024 !
Addicknt,
You know as well as I do that the sp only has to be moving above 20's again and suddenly the BB is an ocean paradise with naked mermaids and free beer party's. The sentiment on the BB's swings with where the sp is. So of course at 17p it's hardly swim shorts time is it? As for the 'shareholder frustrations', .... do you mean 'shareholder impatience'?? I think you've mixed up the latter with the BHP NCM AGM voting which had nothing to do with a cohesive shareholder frustrations... and everything to do with underhand intentions eg they wanted the prize for themselves but didn't want to pay you and I the fair price.
Sharketmare... I think you need to remember that the Chinese have a very good relationship with the landlord which is contrary to your thinking. They've just signed an FTA ! I think you'll find Lasso et all are gagging for someone to take on Alpala and I can't see any issues like a pony $150m or so preventing them from taking on a $5bln project. Furthermore, someone like the Chinese or BHP et al will renegotiate the terms again when they redraft the DFS to suit their own pockets/budgets which are much much bigger.
If you think nothing will happen between now and end of the year, then you go with that... personally I think you'll be back in here pretty quick but unfortunately at a much higher price. Just a hunch. ATB and respect your views/investment decisions. It takes a brave man to be 'out' and equally a brave man to be 'in' I guess.
Personally I think all current board actions are designed to minimise spend and maximise where possible ( eg:- Tailings etc) any sale value. Let's say for arguments sake we accept that Solg are focused on trying to sell the total business then everything they are saying and doing in terms of cost reduction and value enhancement of Cascabel clearly points to a sale!! All the clues are there and they aren't very difficult to read IMHO
I would add - first round elections on August 20th might mean the people on the other side of the negotiating table are different come year end. The second round/run off is not until October 15th.
SOLG would do very well to get those agreements signed before then, if government is still operating in between rounds 1 and 2.
Dbw. How do you think someone who bought at the top, feels about your holier than thou attitude.
The only correct thing you've ever posted on here, is when you just said the boards gone down hill.
It's the likes of you and your daily tripe that's responsible
Why not DBW?
It will likely be that a sombre end for SolGold will provide more of a return than many other stocks will at a time of downward pressure and at best market malaise.
It's never as simple as saying "if you don't believe then sell" or "if you didn't believe you wouldn't hold". It is possible for shareholders to be disappointed with where they expect the final result of this to be but still view it as a better proposition than their alternatives.
I still fully believe there will be a takeover here, just not until much later in the year, perhaps early next year. Fort posted some rambling analogies about houses and hotels yesterday to describe the situation, here is another:
SOLG owns a house. Jiangxi is the buyer. Upon doing due diligence, it becomes apparent that SOLG owes the person who owns the land the house is built on (the Ecuadorian government) approx $145m before the end of the year. SOLG is attempting to renegotiate this agreement (the IPA). SOLG is also negotiating an agreement to build a massive underground extension (exploitation agreement) . These are things crucial to the success of your purchase - no underground extension, the house is worthless to you.
If you are Jiangxi and decide to purchase today, you will have to take over these negotiations, and you do not have any relationship whatsoever with the landlord at the moment.
The smart, risk-averse play here is to sit and wait for SOLG to resolve the issues with the landlord and then make an offer. The downside to this is another buyer coming along and deciding to make an offer, at which point your hand will be forced into a counter offer if this is an asset you are dead set on buying. But you realise that it's unlikely that one of your peers is going to risk £$1.5bn on a block cave mine in Ecuador without those agreements in place.
There is very, very little impetus for anyone to bid now. Nothing will happen here until SOLG has done those two deals with the government and the project has been massively de-risked. This is why in yesterday's slide deck (slide 5) it was listed as the first priority for the business. We've been given a timeline of year-end for these agreements, pretty much the only deadline that SOLG is currently willing to commit to.
Timing wise, I hope to buy back in 1) before the agreements are signed or 2) after the agreements are signed and before an offer is made. With no drilling taking place (and I imagine there won't be any at all this year), it's hard to see what will catalyse the share price in between now and October.
Fort, so, according to you shareholders vote against a director but that isn't a sign of frustration and disgruntlement? Hmm.
As for more general frustration amongst ordinary shareholders, you and I must read a different bb. The tone on here has changed considerably.
I share your view about the ultimate direction of travel, but I most definitely am not seeing it through rose tinted glasses.
Addicknt, I thought Scott's comment regarding some shareholders don't like him related to the AGM voting which we by implication involved Blackrock, NCM and BHP throwing usual toys out of pram and voting against some directors of which Scott was one.
That's not 'shareholder frustration' as you've implied but 'shareholders attempting to undermine the board' as per Mr Twiggers view prior to last AGM which saw a number of the mentioned trying to destabilise SOLG to suit their own interests.
As I said, as far as I'm aware there are no frustrations or negativity surrounding SOLG despite an irrelevant bunch (some ex holders) of Pi's that seem intent on whinging their way through to some kind of self created reality!
The SR process/sale process is taking sometime (these things happen when market backdrop not great - see Condor gold as another example for timeframes on their SR/sale process).
If you are invested in SOLG for the buyout/monetisation event, then you are closer than ever before of realising that outcome as just about everything I can think of is aligned with the target to get this sold and handed over to someone that can develop it and develop it fast to benefit from Copper's surging price and demand over 2 to 10 years+
Bozi
“The reality here is that SolGold is meandering to a sombre end.”
Let’s agree to disagree….. anyone who truly believed that wouldn’t remain invested
RK they have not acquired the Valuestone stake. But even if they would have Valuestone only owns 11.9m shares.
I'm not so sure it's that sad DBW.
At the end of the day the company isn't drilling, so there are no intercepts or results to discuss.
The takeover discussions have been done to absolute death and back. Some people are obviously of a kind to continue them, and they don't like the likes of AgArCu countering them.
The reality here is that SolGold is meandering to a sombre end. Most LTHs should get some sort of return but it won't be anything like we were originally hoping for.
And on we go.
Morning Red / Add
I guess it’s simply a case of wait and see. My opinion hasn’t changed …… Takeover (probably the Chinese in the end ) so no need to waste money …… days , weeks , months or longer who knows …… this board sadly pretty redundant now …. Enjoy your weekend
Red, I thought Valuestone only had 11.9m shares. Jiangxi bought 30m. BR sounds like a more likely candidate.
Maybe Jiangxi bought Valuestones stake...after all, they own it...
Agreed Tesla1.
Seanhunter posts just as many lies on ADVFN as on here.
For some reason he seems to constantly be in awe of Slug.
Even though Slug has been proven wrong on every prediction he has made, and has also been proven wrong about life in general.
A very sad character indeed.
Needalife
He does the same on the other side where he frequently posts BS.
He is a bit like Russell Grant and horoscopes, they post something generally which people interpret in a positive way but never actually post anything of substance.
He loves to boast about all his profitable trades after it has happened and he has seen the direction of the sp.
The funniest bit is Seanhunter cant edit posts and posted can still see he is a liar and yet he tries to defend his honour…..how bizarre. I suppose that’s what liars do…….
The rampers on here are fantastic, still carping on about a sale, one even posted the next rns will be bid news earlier this year….stand up red ramper….
I think everyone realises red ramper talks his own trading book albeit very badly.
He’s obviously bought back in hence the multiple ramping posts shame it’s dropped 10 percent.
Fort, Caldwell actually referred to some shareholders not liking him and wanting more information, and did so on several occasions. So it's not me relying on a few bb posters for evidence - it came from the horses mouth.
I maintain my view that he would rather have waited to make this presentation until he was able to say more - in his shoes I know I would.
As far as the data room is concerned, we know it's been 'open' for at least six or seven months, which in most situations would be ample time for an interested party to form a view. However, this is not a normal situation and the complexities are significant. To me, this explains why it's taking so long. Of course, the true cynic may argue it's proof nothing's going on, but that would imply Caldwell lied, which I'm damned sure he didn't.
When will people learn...the responders are as bad as the idiots..
13/17 green stripes...
What I don’t understand is why people reply to certain posters who will turn anything into an argument, sometimes being subtle, but with the intention of disrupting this board.
You have a good clue who they are, so want the board to be half decent and more informative, want some decent posters back? Start to ignore that’s all, just ignore.
Atb
Unsurprisingly you're wrong in all counts, Sean, but you're not that bright so I'll walk you through it...
By virtue of the fact I use LSE, I trust the link attached to our usernames. I don't trust links claiming to be to random (doctored) photos of share deals. If you don't understand the difference then no one can help you. If you feel your link conclusively proves that you made my trade, again, no one can help you. If others clicked your link and are satisfied, they can join you in your fantasy.
Pointing out the disingenuous ramps of others isn't trolling. Anyone claiming that the current SoP at solg points to an imminent TO bid is either delusional (lots) or deliberately trying to manipulate (quite a few).
Finally, I'm neither a shorter nor someone who has sold out. I'm a LTH who understands the risks and tops up on the dips. The joy of investing when you're young is that, if you only invest spare cash, you don't need immediate returns and can be patient. Unlike the old rampers here desperate to get their kids'inheritance back before it's too late...
Furthermore sh. The very fact you think, and need to boast, you wiped the floor with someone.
Shows a couple of things.
1, you are completely delusional as you clearly didn't wipe the floor with, agug. Quite the opposite.
2, it says much more about you than him.
3. This is a public board, do you think your bullying abusive language is appropriate
4, the likes of dbw, who come to your defence, should reflect on the fact, their supporting a vile bully
What never ceases to amaze me with this board. Is the FACTS, several posters on here, with their stories of contacts on solg board, retiring on solg profits at 54, falsely claiming non existent share deals etc etc, after having been clearly shown to be complete fantasists, still have the neck to come on here abusing others and protesting their innocence. And it appears as yesterday again shows the more the negative news from the solg s,, show, the more ridiculous they are.
Sean hunter, you was clearly shown to have made up your share dealing fantasy. It was clear for all to see. No matter what the likes of dbw and co say.
Most of them wear the same silly fantasy hat as you
Why would you advise people to click on my name when you were too cowardly to click on my link? Faced with proof you bottled it, it was quite comical. A full weekend of posting but you were too scared to see the proof in the end.
I ask again - why have you become a resident troll here when you used to only post every few months without controversy? Mid life crisis?
Also why do you call people who think a bid is likely rampers? They are not the same thing. I fully expect a bid but I expect the SP to fall maybe under 16p again in which case I'll nab some more to sell at 19p. That isn't ramping, but the fact that it bothers you suggests you sold out at a bad loss at some point or you are a shorter. Or maybe you just generally have nothing better to do?