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I'm with you up to the "loyal PI's" bit, I certainly aren't loyal to this POS company.
All I want is my money back and hopefully a bit of a bonus for having to put up with the BS for far too long.
I can't wait to see the back of SOLG !
I agree .there should be a law against this kind of daylight robbery.if he wants thirty mil shares then he should buy them like the rest of us with his own money
Sick and tired of the board, appointing, firing and lining their pockets with these confetti options....its another poke in the eye of the loyal PIs. Give us something, fgs, but no banana skin!!
ATB
I think the fact that he's been on the 'lets cut costs' bandwagon, sacking staff to save money, cutting back on exploration plans etc etc and suddenly 1% of the company shares gets offered at 17p. That's 1% dilution. How much exploration would would those 30m shares get us?? £5m is virtually the entire flipping exploration budget for H1 2023 and we haven't even seen a drill bit turn yet!
So yes it is very poor show and this without a doubt turns the new boy management team into the old boy manage team and we are back to square one (almost).
I thought Scott was refreshing and on brief when he talked about excessive costs and so on. He sounded grounded. He sounded like a normal investor. But I'm afraid self awarding oneself 30m shares is nothing short of tone deafness. He's instantly become a greedy hate figure rather than the hero he could have been. The latter can still be achieved if he delivers a monetisation event over 50p+. But anything under that and it's a poor show.
SOLG is not a business that has shares to throw away. We need those shares for future funding should any sale process prove elongated.
Smickster lol we wish!!
30 million options!!!
some valid points here but also some nonsense
As for a £5.1m "golden hello" - do you people know how options work? This is the option for the CEO to _spend_ £5.1m on solgold shares. He doesn't receive £5.1m - how is that a "golden hello"? Only a 34p share price would allow the CEO to receive a £5.1m "golden hello" before taxes.
30M is certainly a lot, raises eyebrows, and I for one certainly question whether this is necessary. But this aligns interests far more with us than a fat salary does.
A PFS is all about what is "should be" and a DFS what it "will be". A DFS is a large undertaking and needs to be signed off by Qualified Persons. This requires engineering / consultancy firms to work on. Normally it is well advertised who is working on which study. So far I haven't seen either SolGold or any of the consultancies announcing there is work on-going for a DFS. So I am very sceptical about a DFS report not being far away. Maybe a start of DFS works is not far away, but I doubt that at the moment also.
Do we have an offer coming soon, Fort? Haven't heard anything about one.
WI says it is some way off, and the company have done some medium term planning; have you changed your mind, or do you still think I'm wrong about it not happening this year?
I'm so sick of this share now, give me £1.20 a share and I will gladly hand my shares over.
SM, that RNS was very instructive. It states, inter alia, "reduction in the workforce across all areas of the company", and, "reduce the number of time zones the company operates in".
This last point clearly demonstrates the future's in Canada and I'm sure we're going to see the closure of the Brisbane office soon. I'm guessing London will also shut-up shop (if it hasn't done so already).
Just when you thought Caldwell was a fresh start for Solg - you find he wants the cream the company before doing sweet FA cup final - will not vote for these incentives - just another executive lining his pockets
Some very tired and weary pi's out there. Another box ticked pre deal.
Remember the first deal not likely to be the best.... but it gets the ball rolling and opens the door to bid warrior counter offers. If nothing comes along (unlikely with a. their 1 world class asset) then it goes cheap.
I can't see BHP being happy with 30p. Nor 40p. But at 60p+ they might step aside.
Bob and Maxit know exactly where to pitch it... then it's down to natural market forces.
But having a large portion of the investor shareholder base showing weary signs is perfect text book M&A stuff. Along with directors feathering their nests before the big event.
I think one thing is pretty sure, 17p is a bargain and that's why Scott and co seen perfectly happy loading up in that region. Oddly enough the wider market doesn't seem too bothered as sp is still some 50% off where it was when the merger was first announced or thereabouts and we are fully funded and no issues with AGM resolutions.
Bizaar!
Q, I'm really not sure how you can say this when the company has already stated there will be an indefinite delay. But believe me, I'd be delighted if you were right.
As for the appointments, I think the CFO position points the way to a spin-out of the other assets, accompanied by the eventual sale of Cascabel. I'm more cynical about Caldwell's position and have a horrible feeling he's been given the permanent role so that he can be given a bunch of options.
Morning Quady, the company has no plans to produce a DFS. It was not mentioned once in our recent presentations, in the prospectus is was said to have been delayed indefinitely, and on Feb 17th the company released an RNS saying that Cascabel had been "adequately studied". The only work we are doing at Cascabel relates to the investment protection agreement and further de-risking.
https://www.lse.co.uk/rns/SOLG/company-update-5e9gdd8x24ym3b8.html
Do the people who always quote Warren I as some kind of Solg oracle agree or disagree with him that any takeover will take a long time, and be a way off yet?
Because lots on here were quoting his 'stage 2.9, step 3" tweets as a reason to expect an imminent bid, and now he has said that, whilst we are trying to sell, it is unlikely to happen soon.
Any adjustment in the position of the 'this will be sold soon' posters on here? Or do we just ignore him now?
Well tbh id be happy with 27 now just to get my money back
Good morning addicknt.
The DFS is not far away.
Remember we arranged the PFS in such a way that the formatted information could be imported into the DFS.
The appointments now point to we are taking this further.
I expect more RNS's in the near future.
sick of this ****show!!!!
gimme anything north of 30p & I'll bite their hand off, & run a mile :(
Right now, I would take 60p and close the book on this .
Bozi,did you know sick bags cost 50/70p now lol!!:)
Bozi, I had high hopes when I bought in to this share many years ago... dreamed of circa 80p days...
As someone posted earlier stated, we should have sold in the 40s.... what I would give to see 40p again soon...
Orthern - your 8:15post is certainly the type to ruffle feathers but I don't think it's too far from the money unfortunately.
Desperately poor options award this morning.
Best get the sick bags ready for when Bob does a deal at 30p and pretends to be mining deal-maker of the century...
Hello 1 trade popped up hmmm
There's gold/silver in them hills !!...50/60/70p?,then there's copper and other to dig up!