Firering Strategic Minerals: From explorer to producer. Watch the video here.
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If we make the assumption the company keeps an occasional eye on this site - I know Fawzi did - as it currently stands, how many of you will be voting for Scott's re-election? Yes or no.
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 ?
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
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.
@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.
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.
TI, I can't disagree with any of that.
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..
Orthern, I'll take that as a no, then.
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.
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.
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..
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
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...
I suspect he has had the margin calls and couldn’t raise the funds, hence the silence
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.
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.
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.
Down 66% and definitely feeling the pain. 4am here and tempted to open a bottle of wine.
Qali
Red knight is one of the worst rampers on here, ramping away whilst selling.
When he has sold he then de-ramps and so on and so on.
There are potentially more investors feeling the pain today because of posters like red knight.
So we're all in agreement then? No more media for Scott and he leaves asap?
Eish, likewise, although mine was more about what I thought of the results presentation and the risk he's running with private investors...although I don't think he needs reminding.
In fact I'd urge everyone to write to them now - there's no point waiting for a day or so before the AGM.
At this point the damage is done, at 10p what does it matter. Lets get crazy, maybe give one of the ladies in the bakery a crack at CEO?
Yes or no, DM? Or is it wait and see?