Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Can anyone on this bb name a board member they believe has done a good job and should be voted back in at the upcoming AGM?
If so, could you give a simple explanation as to why you believe they deserve it?
There's one thing we agree upon
Yes NM for me ..when it was hardest to raise the finance he always did and the sp always reacted very well as he did deals at above the prevailing sp and I think he would do the same again..he would not bow down to the bigger boys..he would do what was fair to all shareholders..just my thoughts though
I rarely tick up people on here, but Not2sure you get a tick up.
Correct NM served us well and continues to do so.
While too many on here said he would be out, he is still batting for himself and us smaller shareholders.
He has my support.
It's a tricky one as not sure what you would deem as achievements or lack of achievements? Delivering PFS was achieved. I suspect delivering PFS2 and Porvenir PEA will be achieved too. So hard to fault what has been promised and what is delivered on that front.
The failures or shambles (as one can call it) can be pointed firmly at the $78m that was raised last year with the sole purpose of delivering a very exciting exploration plan across several key licence blocks. All those that took that placing, did so on the basis that it was buying some major catalyst opportunities. Share price drivers in addition to the PFS.
What Darryl and team delivered was close to zero exploration. Yet the actively spent the $78m. Remember, the Franco $100m ENSA money was ringfenced for Alpala. SOLG should not be spending the $78m on ENSA. But my guess is, that's exactly what they've done and the annual report will show numbers up to June 30th 2022. So we'll see the split soon.
On the basis that SOLG is foremost an exploration company, and $78m was raised with the sole purpose (plus some working capital) to explore, any failure to deliver on that rests with directors and directly with the CEO.
So as I said before, the BoD's have to tell shareholders where the $78m has gone and why no exploration has been done (outside of Porvenir). They should be voted in or out at the AGM based on the excuses or reasons given imho.
What rubbish ColonelDrake, don't you read what Solgold say.
Since 2015 Solgold have transitioned into becoming a production company and we are well on our way.
Neither a production nor an exploration firm. It has lost directions.
Agreed LunchMoney, also ticked up for accurate information.
Yes boys , you've all done very well, teacher will rewards you with ticks.
Because ticks show good investment strategy.
Agreed Lunchmoney, but I did include working capital in there. It's the "a minimum of 40,000 meters of diamond core drilling" which was the main driver for that raise. "Excess cash" is what's left after that or outside of that. Not the entire pot.
I think we had 1 hole on RIO which was 2000m or less. Porvenir might have racked up 20 holes or around 10k. My guess is that about 20% exploration was delivered. 80% undelivered. If they try and imply that Tandy was part of that then I'll vote the lot out at the AGM as that's nonsense.
We all know what was lined up as it's all in the presentations. What Darryl hasn't told us yet (and I'm dying to know) is why exploration got put on hold. No doubt we'll here excuses about permit issues, red tape etc etc covid blah blah blah... but none of that works as an excuse on the basis it was all known when the raise was done and would have factored some of those issues in.
Just imagine if SOLG come to market again and ask for $40m to explore regionals... the market is just going to say .... sod off we don't believe you. By raising $78m and not delivering on the 40km is nothing short of fraud imho. They raised money on the pretence of delivering shareholders a specific amount of exploration activity and delivered next to zero. That's not going to bode well when it comes to the AGM unless they pull a rabbit out of the hat.... which is what I am expecting as without something special (certainly more than PFS2 and Porvenir PEA... I think many are toast. The two Canadian directors ... they can go too.
Can't get my head round this Jezzoo poster.
Things we know.
He has lost half his stake in Solgold, because he has said so.
He constantly ticks up Slugs posts. Not nice.
He likes ticks.
Yet 90% of his Solgold posts are about me.
Only word I can use to describe him is strange.
He seems to like stalking me.
Good grief Quady,
Things we have to correct.
I am 50% down on paper from my holding at PFS, as is every other LTH.
As far as I know Slug was banned months ago so I don't what you mean by ticking his posts.
You like ticks so much you announce it every time you use one.
100% of your posts are about you.
Only word I can use to describe him is narcissitic.
He likes being stalked.
Elodie is a world class ESG expert...this is one of SOLGs undeniable strengths and Nick deserves credit for his foresight...
Good morning LunchMoney, I believe the 1% streaming royalty wasn't for Alpala, but for Cascabel.
So guessing Tandy can be included.
Lunchmoney, as per usual, your attention to detail much appreciated.
I expect they'll include Tandy in the mix as apart from Porvenir, that was the only exploration going on that I can see in 2022. We certainly didn't get what we were promised and that's not the first time that's happened by SOLG. I thought the Moran RNS some moons ago was written in a more excitable form. Yet here we are months on and zero updates on Moran. Mmm... another promising hole that turned out to be not so promising??
The reality is, SOLG can deliver value with the drill bit. We have had Porvenir and Tandy of late and frustrating we couldn't see RIO through properly. The Warintza target is a tease and would certainly delight Lundin, Solaris et al. if that came in. It makes sense to drill that area first before entering a decent JV partner deal as would strengthen their hand considerably.
10 days left in Sept and we have MD&A and Annual report. Coming to a head now.