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For people to react the way they did in the news about BHP there must have been much more we don’t know.
D.C brought Cornerstone and Solgold together did he? That was a plan by NM years ago, D.C hired and fired people, was this to destabilise Solgold and make them look incompetent?
D.C was quick to get in on the Ecuador mining community as a (*******) let you fill that in, D.C fired and shown the door, caught with his pants down?
Solgold have settled in Ecuador, they have shown respect for the place and the people, maybe D.C was trying to do deals on behalf of BHP and some loyal local government Ecuadorian informed Solgold.
That is my take on it from what I have read, plus filling in gaps, maybe wrong but going like that smells of dirty dealing. The market seems to be happy enough as to what has happened or we would have seen a much bigger drop than what happened imo.
Hope Solgold now really start stamping their authority on things here, show all what they have and the value of investing in them, bring on news of all the work of the geologists who have been looking at all the tenements.
I feel more confident now in Solgold than I did before, they have woke up I believe, anyway that’s my take on things
Atb
Yep, couldn't agree more and mirrors my post from yesterday MF. Hopefully a slow steady build in stock confidence and price over the coming months to get us back to a market valuation of around 700 -800 million then let the bidding begin :))
have a fantastic weekend all, I know I will
Mathers - of course the original offer for Cornerstone was a Mather initiative but do you not remember the disdain that CGP shareholders had for the terms and for the charade with the French translator? It was a bit of a farce if we're being honest with ourselves.
There has obviously been some mediation between all parties at SOLG and CGP and that much was RNSd last year. But as Better Rich points out, it wouldn't have been a deal struck up overnight. There would have been a case of all compromising and that would have taken some soul searching. DC would have played a part.
RichBetter - I might have this wrong but I think you might have the wrong end of the stick.
Had we gone lock stock with the 100% of the reserve, i.e. full development, then the capex would have been $5bn+ for ultimately very little improvement in economic output. Totally unrealistic.
Plus, why would you pay an extra $2bn up front to develop it if it isn't going to yield anything extra?
My interpretation of the PFS optimisation (and this may well be me with the wrong end of the stick) is that reserve usage would start to be built back up and additional capex phased into the plan, drawn from phase 1 revenues. So, back towards a multi-generational life of mine but with a more gradual phased approach and ultimately slower ramp up.
Also, it was Keith M who advocated that approach just before the initial PFS under Mather was going to drop, hence the initial delay whilst they went back to the drawing board, but I do get why you think Cazzubbo did this intentionally for BHPs benefit. Just not sure I agree.
When can we realistically expect to hear the results from the strategic review?
Irwin been right many times …..
“First Step - Friendly Merger with Cornerstone - COMPLETE, Second Step - Raise US$50 million in non-dilutive financing - COMPLETE, Third Step - Realize full value for SolGold Shareholders - IN PROGRESS. Impressive positive progress, congrats!”
“I have known Scott Caldwell for a lot of years. He has the skills and I believe he will do the right things for SolGold shareholders. He has been on the SolGold board before, so knows the challenges SolGold faces. Onwards to Step #3”
You don't need to tell me that RichBetter. But Marshall initiated the stripped down version, rightly or wrongly.
Plenty have been lauding Cazzubbo as a BHP stooge in recent days. I called it at the time he was appointed but was told i was being daft.
I can't do anything but call things as i see them when i see them.
I'm invested by the way but nice dig. Don't let that mask slip. ;-)
Labour could teach Solgold a thing or two about budgetary responsibility after our funding farce in 2022.
In fact, statistics are showing they could probably teach the tories a thing or two too. A conversation for another day in early 2025 though, by which time I'm sure you'll be well behind Tice and ReFash -if you aren't already that is...;-)
And there is the reason why the new lady cfo and a flurry of other directors left under a cloud. She had clearly done her job but it must have been vetoed in some way by dc… who’d a thought it :))
I think a decision should have been made 2-3 months ago to sacrifice one asset to develop the other.
Whichever way round that would have been would depend on what interest there is and at what level.
After all, if we're trying to entice BHP into making a move, surely the play should be to actively market one of our top 2 assets and potentially the flagship one?
I do think SolGold can have a crack at Porvenir with the proceeds from Cascabel, assuming it's going to be realistic to bring the infrastructure up to scratch.
Instead we have two assets and are moving painfully to progress both.
We may never Montecristo..its all geared to selling Solgold...
Bozi...you can't honestly believe that Darryl was a BHP stooge when Nick was on the Committee that recommended him to the Board...?
Rich...apart from your disgraceful sexism...
You have absolutely no idea what you are talking about re Ayten. So change the subject.
We’ll soon find out Monday morning once we see the price action or will there be an orchestrated release of strategic RNS releases to raise the stock price into what will be the inevitable buy out in the coming year or so !!!
ONWARDS AND UPWARDS
Latest from Irwin in case anyone missed it last night
“BHP CEO Mike Henry said SolGold has come up with a "disappointing high-cost" finance option. Why does the CEO of the world's largest mining company bother to comment on the financing affairs of a junior resource company they own a tiny stake in??”
Exactly...a stake worth 0.04% of their MCap...pathetic...
Because it does matter would be my guess and Henry has been firing blanks for a while now
Redknight
A fella who worked for a major in senior positions for over half of his career doesn't just barricade his bridges and pulls in a completely different direction. At the very least, he was placeholding, ensuring SOLG didn't get above his station.
Ask yourself why his tenure lasted 11 months.
Ask yourself why he bought no stock.
Ask yourself why he suspended all regional drilling and never resumed it.
Ask yourself why we delayed raising finance until the time that markets hadd started to slide and we were competing with other juniors looking to get cashed up.
Impressions can be misleading. His CV clearly did a lot of heavy lifting and Nick Mather took it on trust that he was fully geared to pushing Solgold forwards. This after a prolonged recruitment process, that, for all we know, may have revolved around more than 1 candidate and more than 1 job offer.