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Funny how all this news has suddenly appeared!
The reasoning behind this spate of releases is completely transparent (I'm not complaining, btw). Shall we run a sweepstake on the number of them next week?
Solg management must think most private investors are fools… That they can suddenly package up minor details, spread out in batches, spun to look like more progress than it actually is, coincidentally in the run up to an AGM, to please the plebs, and expect us to back them again.
Some rock samples to show for a near $70 million cash spend over the year.. and now mothballed, with no indication of any plans to do anything with them.
No announcement regarding SR progress or decisions made, no solid ambition to progress anything…. No Joint venture developments, no news re looming finance raise…. It’s just crumbs from a table, pushed on to a plate, to appease the dumb.
Orthern …. We’ll see the revised PFS Q1 for starters. This could change plenty.
No one is “appeased” by these updates but it’s good to be reminded of our potential
Hopefully the board negotiate the AGM without too much fuss and see this through to its conclusion.
As for the dumb ….. well they’ll be voting for change and their own ultimate destruction
Not really sure these rash of RNSs are aimed at PIs. Most Pis anre entrenched in their view and most will have cast their votes already. No this feels like we are showing the world a bit of leg. LOO we are not a one trick pony if part of us is sold.
If not it’s really desperate, massaging the boards egos, hey look we really did do something this year and making them feel good about themselves.
For me we are telling the market we ave many parts , if part of us is sold/ joint ventured look at what’s left and place a valuation on it.
A more cynical point of view would be that these RNS's are being rolled out to remind shareholders of the amazing exploration potential we have before they...... drop the inevitable one.... which is ... we need to raise cash to fund it and have placed the 157m shares with our buddies at 10p. Lol!!
The cycnical view would be...
1. Someone in the know takes out a 0.5% short in Dec after equity raise and CGP boys get on board tut tut
2. Plan is to reduce shareholder expectations over next 12 months, reduce shareprice.
3. Once share price is on the floor, issue 157m shares under some ruse like... exploration required.
4. Then when all ready, drop the biggin... ENSA deal done albeit cheap and see if anyone comes out of the shadows
That the gist of it Bob?
Oh... and if AGM does not go to plan... then action point 3 and 4 earlier lol!
If the board want to ensure votes they could start by stop using the endless ‘strategic review’ as a mechanism to hide behind… as a useful tool to make no concrete decisions, just coast along behind… Collecting salaries and options.
The board could offer some outline as to progress and developments of their intentions to monetise… to show investors how the culture of non performance has ended…. To clearly indicate what decisions have been made… what directions we are going in, after the last 12 months of stagnation…
Coughing up some rock samples, just before an AGM is so transparent it’s pitiful.
Fort the idea that these shares may be placed cheaply with “friendlies” has crossed my mind. It would stink but I guess it would mean no more dilution plus probably signal things were about to change ….. they’d want to ensure a decent return
More fantasy Fort.
How do you square all that with Scott and Bob's significant existing investment and, for example, Scott's option package at 17p.
Come on Fort, play the game for once.
DBW, yes ... they want a decent return. But as I said moons ago, if they can bag those 157m shares at 10p then that makes an offer price of 25p more than palatable to them due to the lowering of averages. It doesn't make it nice for you or I.
The stink has been around for a while now ... evidenced by the huge finance costs which Maxit have pocketed over the last 12 months. Not to mention the stock options and equity placing at 16p.
They are so aligned and greedy that I know pretty much nailed on that the way to extract an offer and see them act fast is to vote them down at the AGM. They will scramble around to save their own bacon... and a deal will be announced. If you believe that a low ball will be countered... then who cares what the offer is... it's about what follows. So why wait till Q2 or leave these numpties in control when you can force events by voting them down.
It's a gun ho policy but it's based on the knowledge of these guys greed. Vote them down and then you'll see them act. Simple as that. I know you prefer the wait and see policy but it only srves them greater and you less. There is no chance of a PFS update in q1... that's just a ruse. They'll go for H2 or string it out again as why not? What are you going to do about it? Once you vote them back in... they have 12 months and even then you'll be voting them back in next year lol!
I think PFS will happen Q1 💯
Many here have been invested long enough in Solg to know they will not deliver an updated (shrunk) PFS as targeted in q1… It will absolutely be kicked down the road to q2 even q3 with no clear explanation or rationale.
They have no need to, they can hide behind the SR silence as some form of excuse.. and they can string out the plebs a little longer…. issue the cgp shares to themselves and their friends claiming the need for funds, and no better, non dilutive option… the problem there, is Scott’s original 30 million fund, is now not much more than 10 thanks to his management decisions.
OK Fort, let's humour you.
So let's say either Maxit or one of their associates want the treasury shares at say 5p. That values the company at £150m and raises a paltry £8.5m.
How does that enhance Scott's, Maxit's or Bob's personal case? Do they really want to go down in history as the charlatans who let a tier 1 deposit go for a pittance? I know I wouldn't.
There's no doubt that the RNS barrage is a poor show and investors should be vocal about this in any comms with those parties. Let them know it isn't acceptable but don't automatically vote them down for the simple reason that there isn't a creditable alternative individual or team to take this forward quickly.
There needs to be an element of trust. Mather's positions, personal and others, Bob's 5% etc offers comfort that they're not going to do what you're suggesting they will, and if they do, then you follow the money-it's quite simple.
Again I disagree….. you might be right …. We’ll see
I wonder whether the audience for these RNSs are not investors, but the new government. The revised IPA remains unsigned and it's not unrealistic to think the new administration have asked the question of Solgold about what they have actually done with the land packages over the last few years. I've emailed the company asking about the IPA but not received anything back. If they miss their end of year deadline shareholder's deserve an update.
Market has cottoned on....no more empty gestures, please! Are these dusted off updates from another timezones! Scarred for life....that's how it's been, dangling carrots....
Orthern - we've seen eye to eye on plenty the last couple of years but I'm afraid to say that you're forcing it a bit too much this morning.
I think there would be many who would be happy with 25p right now for APALA, the rest of the assets would then be left to Divi Up? sell off?
Bozi, it’s the transparent conjuring up of minor news, just before the AGM that has me annoyed….
We all deserve better after the last 12 months
Bozi, Bob or Maxit sold a large chunk of the their SOLG shares many moons ago to BHP for 25p.
That valued SOLG nearer £400m at the time. You're argument is nonsense. It's about lining their pockets at the end of the day... they won't care much about reputations being tarnished by a 5p placing if they then rack up a nice £1.5bln asset sale. It's the latter that they will be known for.
Cut the head of the snake off an there's still time for the tail to waggle... that's why if you vote them down , you'll see a monetisation event faster than you think. That's the strategy... out them now rather than leave them to their cosy plans over the next 9 months+.
If the chinese are close to signing then they'll soon sign fast on the line if they think the deal is going to collapse and BHP are about to gain more influence.
Sometimes you just have to force issues. And if you have that power via a vote... then use it.
Greed will always win here and these CGP boys need a kick up the jack....sie
If they give us a hard delivery date for the PFS and clarify an end date of the SR I will vote for them. Q1 is simply too vague for the PFS and this SR needs to culminate in some clearly communicated decisions. They must have all the modelling and data by now and have an idea on NPV. With 20 parties in the data room they must create shareholder value speedily...so tell us and we can vote accordingly. Yes Ecuador's geopolitical situation has not helped but this now needs closure. If not as I said before I will vote them down. We all risk being taken for suckers with these treasury shares. While Bob and Scott are aligned we need to see execution and clarity on strategic direction to drive an outcome. No clear path to outcome is a no from me Bob/Scott.
I am not suggesting the following strategy but its indicative of how far the sp has fallen and how many other opportunities there are out there for a mine finder.
So why doesn't the company do whatever it can through jvs, streaming, forward sales, royalties etc on Alpala to raise some significant much needed cash, then GIVE AWAY Cascabel to the Chinese and use the funds to explore all these other prospects. The fact that would probably create value and a rally in the sp, just shows how far this has fallen.
The other way of looking at it would be to say that Cascabel almost has a negative value within an 8p share price. Pretty daft situation.
Haha Jerry, you couldnt make it up... well you have actually.
that is the most ludicrous post i have seen in a long time... about 2 mins
Exactly BBG, its ludicrous. But thats where the sp is right now. Ludicrous.