Member Info for addicknt

Quady, this is where you consistently go wrong - the decision as to whether this goes to production or not will not be in the hands of the company. We have recently seen the power of our main shareholders and they will not let that slip.
No one disagrees that the company keeps saying it, but that is simply not the point.

Bozi, as I said, they'll act in their own time. And by the way, the copper articles are recent and in response to the significant price rise. The majors are short of copper resource - or perhaps you disagree? This will drive what happens here, not any fantasy land opinion about going to production.

Bozi, perhaps you didn't read any of the articles over the weekend, or those published last week.
The imperative for the major mining companies to acquire new copper resources has become overwhelming, so why would they ignore the seventh largest discovery? Especially when they already own a significant percentage.
As far as your observation about management is concerned, why do you imagine our main shareholders will permit the status quo? They've just got rid of what they regarded as a major impediment, they're not going to be content with someone who simply follows the same path.
They are biding their time and will strike when it suits them.

to me that the issues weighing this down were/are the election, the PFS delay and the management uncertainty.
We now appear to be on much firmer ground as far as the election is concerned; the market has got used to the delay shock and the management issue will be sorted in due course.
In order to provide some excitement in the short term, we could do with stellar drill results. Or preferably...

BNC, in which case the company should never have taken their money.

For once I sort of agree with Q - broker notes are no more than fingers in the air, but ssmith is also right, they can have an effect, as we saw with the Liberum downgrade.
Of course, he then spoils it by saying the revised PFS will definitively provide a roadmap to a cheaper and quicker mine. It is hoped it will do so, it is not nailed-on yet - far from it. It's going to take a year to evolve a plan and nothing is certain.
As for his "I'm better than you" comment...talk about arrogance!

The Times has run a double page article about the mining sector in its Money section. If you harboured any lingering doubts about the demand for copper et al, this article will dispel them.

ToS, agreed. This is a feature of these boards - people simply refuse to listen to anything which may affect their investments. It's a very odd psychological response to what should be an unemotional process and which leads many folk to lose their shirts.
Having said that, I'm not particularly concerned about his news and, as the lawyer said, it's likely to end up in the Constitutional Court. We know where our priorities lie and it isn't in this region.

Q, saying something is an "idiotic statement" is not an insult...it's a statement of fact. And I can tell you, I've heard far, far worse around the boardroom table...but you wouldn't know about, would you.

Exactly, Rich.

"Solg is a company that is going to be a mining company, it does not exist to make us money'!!!!!!
It exists for absolutely no other reason!
Jeez, if I'd known I'd invested in a charity, I'd have thought twice!
What an idiotic statement.

Q, did we really 'always know'? I don't recall it ever being a topic of conversation on here.
As for the golden handshake argument, I don't buy it. I'm struggling to think of a similar example whereby an executive with such a significant holding in the business has left with a payment, particularly when he remains as an NED. However, are we certain he hasn't received one? Or will it be buried in the accounts in due course?
I'm really sorry Q, your argument simply doesn't hold water.

Quady, I've asked you the question before but didn't get a reply; if his 'retirement' was planned, why did he put himself up for re-election only to resign one month later? If it was the intention to step back and become an NED, why didn't the company state that fact and thus avoid the humiliation of the agm? I've no doubt he would have received overwhelming support for such a move.
The answer is obvious; he had no such intention and, only after a month of wrangling, did he finally bow to the inevitable.

As you enjoy 'facts' so much Q, I take it that you accept that despite 'winning' the vote he still ended up being deposed? Not much of a victory, was it?

They also have the jv with Rio at Resolution. The blueprint for the future at Cascabel?

I took my profits from this and then made the rookie mistake of letting fomo take over and re-invested ( given I've been investing for 40 years, this is really stupid).
Anyway, here's the lesson. A friend of mine invested 100k as seed capital in GWP, back in 1999, I think. Over the years he took part in numerous fund raising exercising as the company faced bankruptcy on an almost daily basis. Eventually, his shares went into the bottom draw (in fact half of them went into his ex-wife's bottom draw. It was part of a divorce settlement). The recent takeover has provided him with a huge return.
GWP took twenty odd years to achieve what it did. It paved the way for everyone other player. It did the research which all others rely on - in other words it de-risked the whole market.
Consequently, we won't have to wait anything like as long to get a return. So, it's into the bottom drawer they go.

He negoiated a compromise agreement which was face saving for both parties. The company didn't want him outside of the tent urinating in.
But no one should be under any illusion, he was pushed and there was nothing voluntary about it.
I also have severe doubts that the NED thing will work - the new ceo will want to pursue his own path and he won't want someone peering over his shoulder.
I'm sure he argued for the position in order to keep an eye on what the new board tries to do with his significant shateholding.

Woody, of course you are correct. How many directors have you ever seen put themselves up for re-election in the knowledge that they intended to resign a month later? Naturally, the answer is none.
With one exception, everyone understands what happened and yet apparently we are all wrong.

"listen more to the company and less to people on this chatroom". Well, you've got your wish there Q...no one listens to you anyway. Oh, sorry, just yet another example of my lack of "emotional intelligence".

RK, what he actually means is "The Executors of my Will will still be holding". He, like the rest of us, will be a pile of compost by then. Unless of course, he's also found the secret to eternal life.