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This has just become much clearer to me. Holder, the Chairman, sits on tHE Advisory Board of Harwood Private Equity, Christopher Mills investment vehicle.
It seems likely that he's advising Mills to buy and, in my opinion, we could see an mbo coming.
By the way, I think the company has broken the rules by not declaring the interests of Holder in the RNS of last week. In fact, I'm 100% certain they've broken the rules.

to note someone spent almost 500k on purchases this morning. Perhaps Mills buying more?

schlemiel, that's not the way an issuance of warrants works.
They are issued by the company directly to the person exercising them. They will the either hold them in whatever form they choose, almost certainly electronically, and if they then decide to sell they'll instruct their broker to do so. Unless Peel etc happen to be the broker to the seller, they'll have nothing to do with the transaction until they make a market in them, as instructed to do by the broker.

Why on earth is a price monitoring exercise needed? It's not as if the sp is doing anything unusual.

tindrum, you are correct, but only for the time being.
The various issues concerning cash, assets and debt have been highlighted by the company as being of concern. In my opinion, it's almost guaranteed that the various investigations will confirm the problems. In turn, this will, in all likelihood, trigger the various covenants. It will around these clauses that the negotiations will focus. Obviously, the company will seek to get temporary waivers agreed, or, even better, a long term resetting of the covenant conditions. In most cases lenders are very reluctant to completely reset covenants and prefer to keep their powder dry until the dust has settled a bit. Of course, uber aggressive lenders take full advantage of the weakness and will exploit the situation to their benefit.
This has a very long way to run, but there is no way this can simply brushed under the carpet as being of minor significance. Something has gone terribly wrong and shareholders are in an unenviable position.

The problem is not likely to arise with regard to the ownership covenant, it's much more likely to occur with the covenants that exist with regard to profits, cash flow and asset cover.
The company has clearly indicated that problems exist in these areas and they are obviously far more serious than whether someone owns 30% or not. There will almost certainly also be a covenant relating to fraud.
The future is in the hands of the debt holders and they will want to exact their pound of flesh.

wiser, I respectfully suggest it's you who needs to re-read the RNS. The company now exists solely at the discretion of its lenders. That's what happens when covenants are breached.

"all in all, good reassuring RNS" ???!!! Are you joking?

Plenty to read but they are anticipating up to another 6 months for the Ganfeng review to be completed. This has been caused by the shutdown in China due to the virus. No news on funding. Otherwise, good progress on the ground being made.

Jerry, in anticipation of a global sell-off, I've been sitting on a pile of cash for over 18 months! I became so convinced it would happen and saw the exuberance of the US market, debt levels, etc, as being the clearest of signs. Mind you, in the interim I missed out on significant opportunities...oh well.
I currently see the market in two distinct segments. There's the broader, blue chip opportunities, where I'm still hanging back, and then there's the situations such as SOLG, which probably merits further investment (mind you, my purchases last week now look a bit daft). I'm of the view that we have a bit to go before the broader market looks attractive, but it has to said, some blue chips are beginning to look very tempting.

Damn! I was so looking forward to representing Britain in the World Yodelling Championships.

of a certain age (most of us?) have seen this all before...in my case, at least four times.
For those who haven't, don't panic, it will recover...it always does.
Will this virus tip the world economies into recession? - possibly. However, the enforced closure and reduction of activity of many businesses, will lead to an explosion of demand once this flu bug has stopped scaring everyone witless.
In any event, as it currently stands, SOLG don't actually produce anything, so life will go on as normal.
It's not great to look at your portfolio when it's showing a loss, but the obvious solution is not to look. Mind you, the temptation to add more here is great.

The really interesting thing about yesterday's announcement is who the buyer was. Christopher Mills. An arch shareholder activist and general pain in the arse for management teams.
He is an active value investor and his appearance here is very interesting. One thing is for sure, you can expect fireworks.

PG, ha! I was actually referring to SOLG, but I'd be perfectly relaxed with two quid a pop here.

Jerry, you and I know who they should buy as a defence mechanism...and £2.00 per share will do the trick!

Biswas finds himself with a bit of a conundrum.
He needs to big-up Havieron in order to satisfy his own shareholders and to provide another defence plank if RIO come knocking on the door, but in so doing he simultaneously strengthens our negotiating position.

BBG, agreed. This has become very tiresome.

has just released an announcement about the court decision which is slightly more detailed than ours.
It refers to the concession holders right to "legal certainty" which is enshrined in the Constitution.
The implication of this is that all current concessions are safe, although I think we could expect public discussions about future awards.
My assumption is that all miners holding concessions regard this as the final green light and will be pressing ahead with their plans. For us, the implications are huge. The most important obstacle to our future has been removed...at last!

Colonel, it has been discussed...at length.
I pointed out a while back that the issue was back on the table and gave a few updates I'd found on the web. Then on Saturday someone provide details of the decision which they'd seen on Reuters. This RNS is a confirmation of the news reports from Quito.

What seems to be the really important element of the statement from the court is that reaffirms the principle of "non-retroactivity" of the law granting concessions. In other words, if you've already been granted them, they cannot be rescinded.
This seems to me to be both emphatic and hugely important. It should clear the way for all mining companies holding concessions to progress with their plans.
Great news for us.