Member Info for addicknt

Bozi, that's why I referred to 'minor placings'. And, as you well know, the 100m is not the issue.
Anyway, putting that all to one side, we can all agree that we need some good news asap. The lack of drilling news is a complete mystery.

Bozi, do you not understand that the most important aspect of the AGM was not the near defeat of NM, which eventually became a total defeat, but the removal of the Special Resolutions? The outcome effectively prevented any further independent funding without the express approval of both BHP and NCM...and I'm not talking about minor placings such as Valuestone.
I'm sure you think I'm some kind of BHP stooge, but I can assure you I'm not. It's simply the case that I can see this for what it is and I will back our board to make the most of a difficult situation.
I'll make one final point about the AGM. A number of people on here attempted to portray it as a great 'triumph' for NM and that 'most' shareholders had voted for him (I was one - which I now regret). What they fail to mention is that 20% of the votes cast were done so by NM himself . Take that out of the equation and life looks rather different.
Btw, we launched a hostile bid for CGP, how did you expect them to react? It was the most ill-conceived hostile bid I've ever seen and, had it been successful, would have harmed our own interests (funny how people were so excited at the prospect of getting one over on them that they ignored the dilutive effect on our company) We deserved to lose and thank god we did.

Q, if you honestly believe that when the chips are down BR would support NM over BHP, you are seriously deluded. Do I need to remind you that BR are the largest single shareholder in BHP and have been for a long time.
SOLG will be regarded as a 'here today, gone tomorrow' company - BHP by contrast, are not.

Bozi, did the AGM prove nothing to you?

DBW, yes it is, but you appear to contradict yourself.
You repeat what I said i.e it comes at a price, but then appear to suggest that price can be avoided. Mather achieved the exact opposite of what you state - his actions made it more likely they could get it for a song. The new board appear to recognise this and realise constructive engagement is the only way to ensure we all get a decent return.

Bozi, as has been said many times before, you don't appear to understand the relationship between companies and their main shareholders. If you take their money there's a price to be paid. Mather ignored this very obvious statement of fact and paid the price.
And just for guidance, I am not "accommodating" of their wishes, I'm merely stating fact.

Rich, I'm absolutely certain they're doing so. The company tested its relationship with the two most important shareholders to the limit and we know where that got us. The conciliatory noises subsequently made by Mather and then the board, were not some through-away line - or if they were, as Bozi seems to think, it would be disastrous.
We must accept the inevitable and work with them to maximize shareholder value.

This RNS may explain the drop. From what I can glean Mr Randall is a private individual with a connection to Renaissance Capital. It looks as if he was involved in the early stage funding and has cashed-in some of his chips. The share price reacted with typical irrationality. We live in jittery times.

A further comment is to say that the previous business model and strategy was totally undeliverable and the most recent announcement is a recognition of the fact.
My guess is that most shareholders have continued holding here for one reason only; the assets we own. We did not not buy into the management story of production, but simultaneously understood that at some stage we'd have to do something which would produce shareholder value. In my view, this is the path we are now on.

Unless cascabel is sold in its entirety, dilution will happen. Specifically, if a jv is completed, it will come in the form of a significant reduction in the percentage of our ownership - GGP/NCM is the model to use as a guide. We will also have to raise cash to fund our part of the development cost and this will definitely involve further dilution.
The only way to avoid dilution is to sell cascabel and use the proceeds to fund our ongoing exploration targets.
NM's comment was as unachievable as his plan for mining, and the new board will understand this.

Zoros, you're absolutely right, this project is way beyond the capabilities of SOLG on its own.

The previous board realised they had to make changes the moment they were forced to do so by the threat of an egm. We have a lot to thank CGP for.

Rcgl, good find. Rather reveals just how far off piste the previous regime had gone, doesn't it?

DBW, you can't run a company in such circumstances. He had no option other than to resign.

DBW, I refer you to the public mea culpa from Mather and the subsequent statement from the company.
Of course, it's possible the board will fall out with them again, but that wouldn't be sensible.

Grim, theoretically you're right, but that isn't how the dynamic plays out in such circumstances.
In my opinion the new board will be working much more closely with BHP and I see the future as being linked in some way with them and possibly with NCM involved as well.

DBW, do you see BHP selling? I most certainly don't.

51% owned by the Indonesian government, the balance being held by one of the world's largest miners. Just like us then...cough.

new partnership agreement with Mace. Excellent news.

Kempey, I don't disagree that it will be mined quicker and is less risky, but that wasn't the point I was making, particularly when you take into account the copper and silver at Alpala. I was merely pointing out a factual error.

SpadesAspade, you say HAV is the largest gold find in the last 10 years - I'm not sure that's true. The SOLG discovery at Alpala has 21.7m oz.