Member Info for addicknt

Novice, both of those reasons are compelling, particularly the second.
The block to the progress of this company has been removed. Yesterdays announcement demonstrated a new path and now it's down to the board to deliver shareholder value.

There's only one person on this bb who doesn't understand the 'diverse book' argument Quady, and that is you.

RK, for mining companies it's absolutely essential, especially those operating in environmentally sensitive areas.
As far as CSR is concerned, I'm sick to the back teeth of corporate posturing and blind adherence to current social mores. I read an annual report the other day which contained 119 pages of complete and utter drivel.
The environment is important - pc tosh is not.

RK, will you please stop producing factual posts - some people find them triggering.

Quady, the arithmetic was irrelevant - the outcome was the key bit. He lost a job he clearly loved and had dreams of becoming the next Gina Rinehart went up in smoke.
I'll do my best not to mention this again, but another of your problems is that you don't understand the dynamic which exists between a company and its main shareholders. To make it simple for you, they don't have to have a majority to control the destiny - as proven at the AGM. I think part of the explanation for your misunderstanding is that you fell for the bellicose behaviour of Mather over the past 18 months. He persuaded you that we could take on the major shareholders and defeat them - although I'm pretty certain he knew he couldn't...he's not that stupid. Anyway, we know how that turned out and the future will eventually prove to you the reality of the situation.

QED. You think he 'won'. He lost his job. Two Special Resolutions which may have helped your cause thrown out. What a stunning victory!
You really don't get it, do you? Having never sat around a boardroom table and having never dealt with shareholders, this is not in least surprising.

"once we have a cfp it's game over'! Oh dear. You don't even understand what a cfp is. For guidance, it's simply a bit of paper and is more or less meaningless. However, in this instance it would have meaning (if we ever get that far). What it would provoke is a reaction of the sort you are not looking forward to.

Q, you have a number of problems, but your inability to understand reality is the most egregious. Who can forget your description of the AGM as being a 'triumph' for Mather? You are so lacking in knowledge of how a company operates and how to interpret events is astonishing, particularly as you keep telling us you've been a highly successful investor for 40 years. It's perfectly clear to me you've learnt nothing in that time.
If I may I'll repeat a question which you've never been to able to answer; why do you think BHP are simply going to sit around and be happy with owning 14% of this company? Of what possible use is that to them? I know you know the answer to this, but you'll never admit it.

Quady, stating that they are advancing the project in no way rules out what I and others are saying. The company will not raise the money independently - it will be sold or done as a jv with BHP. Continue with your grand illusion of you wish, but you've been proven totally wrong about our ability to fund our other projects and you'll be proven wrong about Cascabel as well.
Mather's time is over, and your dreams with it, and during the course of this year we'll witness a complete transformation of the way we operate. The AGM started the process and the new board will complete it.

Bozi/Q, the presentation was referring to other exploration targets, so in that sense I agree with you. But I believe there's a reason Cascabel was not highlighted and that is because discussions are ongoing with our two main shareholders and the project is not up for grabs with any other third party. The 'independent financing options' was a red herring.
But, and this is a big but, the call for collaborations was finally a recognition of the truth you've denied for years and that is, it was never feasible that this company could take our numerous targets forward on our own. God alone knows how many times I and others have pointed out this very obvious truth.
I've lost count of the times you've maintained everything was fundable, either via the markets or, even more laughably, by cash generated from Cascabel. This was never the case and you were simply too blind to see it.
At long last the board of this company has come to terms with reality and it's to be hoped they can now deliver on this new and much improved strategy. We've wasted far too long pursuing an undeliverable dream and now is time to get on with the job in hand.
Expect a Cascabel announcement in the not too distant.

I'm trying to stifle a very loud guffaw - but am not succeeding.

the presentation will include 'strategic plans'...hopefully it'll be something interesting and not the same old stuff.

Q, not very few - none. And even if you live to 200 years of age, which I guess you probably think you will, especially as you're also an expert in genetics, you still won't get a dividend.

Jerry, why would either BHP or NCM want to do that? If they advance risk capital, they'll want control. They don't exist to do shareholders of SOLG favours.

cadell, that may be months away. It's to be hoped it's sooner than that.

DBW, no, it isn't possible. Their holding is in the plc.

RK, sorry, my post was unclear - I was suggesting NCM may sell to someone else.

Turbo, the end of the month is not necessarily the timing for an announcement concerning a new CEO. NM is leaving and will be replaced by Marshall on an interim basis. I guess the search for a full time replacement has begun, but it may take some time. The sooner we get someone on board, the better. The delay is not helping us at the moment.

DBW, yes, let's hope some good news is coming - we certainly need it, but I'm not sure I agree with your BHP observation.
I think any outside third party will look at this and realize BHP are too far entrenched, thus making a bid unlikely. What I think is more likely is that another party will team up with them and NCM is the most obvious - although equally, NCM could sell their holding to someone like Barrick and a jv between them and BHP would make a good deal of sense.
I simply do not see BHP selling their holding to anyone and if another bid appeared they would defend their position accordingly.

Smickster, if you've based your income expectations on dividends from this company, you're going to be sorely disappointed...and broke.