Member Info for addicknt

Same here, wishey.
This company could well have a great future and is most certainly in the right place at the right time. But it's quite difficult to see how the current valuation is justified. but then again, what the hell do I know.
Nevertheless, well done to all holders and good luck.

Monte, well, yes we are in a stronger position. For a start, we are not about to go bust at the end of March.

Quady, I'm with on this. The lack of communication os very shoddy.
Like you, I can only conclude there is something very significant going on.

fhe, you do know who DGR are, don't you?

anyone on here who doesn't think 2020 will be the year that defines the future of this company?

Woody, agreed. I'm afraid it's demonstrating the lack of concern for private investors, which has been much discussed.

Oh, it's on Advfn...it must be true.
What on earth is the point of making up price predictions?

Quady, until we are told by the company, I cannot see it makes sense to assume drilling has stopped; particularly when you bear in mind who the source of the rumour was.

fhe, normally it's not worth responding to your posts, but your understanding of mining, the strategy of the majors and SOLG in particular, is lamentably poor. In fact, I'm not really going to bother now, other than to say that if you think any company, regardless of size, invests the amount of money BHP and others have invested here on a whim, and that they regard it as being de minimus, you are horribly deluded.
I'm not sure what's motivating you and your constant posting, and in reality I don't care. But I would urge you to sit back and take a good look at yourself...there's something quite wrong with you.

"the world and his dog are ignoring SOLG"...this explains why BHP stumped up another 22m. Thanks for the brilliant insight, fhe.

BM, I think there is confusion surrounding the difference between share options and share based payments. I'm afraid I don't know how the latter work as I haven't seen details of the scheme. My point about share options stands.
However, as to your broader point, I agree. I voted against the increased options package and I think I've also been fairly vocal in terms of my opinion relating to the lack of news flow.
The company's share register affords the board the luxury of not having to pay much heed to small private investors and i'm sad to say, NM seems to be taking advantage of that. He is wholly focussed upon his relationship with our major shareholders and we appear to be a minor irritant.
Having said that, I remain very happy with the assets we own and the future prospects. I'll just have to get over the fact he doesn't give a flying feck about us.

BM, are you confusing remuneration with options?
Options, until exercised, are not a cash item. Once they are taken up by the beneficiaries, they deliver cash TO the business, not away from it.

BM, options are not an expense to the company. When exercised, which at current prices won't happen, the company receives cash and other shareholders are diluted. So I'm afraid your comment about 40m being 'spent' on them is simply wrong.

little gems hidden in the last quarterly report was a statement revealing that drilling will start again in the Soloman Islands during this quarter.
It's quite possible this is old news, but it's the first time I've seen it.
On a broader point, it seems to me that during 2019, the company has been using the MD&A report to release news under the radar. I guess they feel this meets the UK regulatory requirements, but it certainly makes life more difficult. Of particular note is the $22m expenditure during the June/Sept Quarter which is buried deep in the notes and which I'd have thought merited an RNS and further explanation.

Jerry, on further re-reading I'm not sure I've got this right. It may not be the case that the expenditure related to the acquisition of additional assets, but rather it records the way they account for ongoing exploration costs. To be honest, it's as clear as mud and I'm confused. Either way, there appears to have been an unusual outflow in the last quarter for which records have been published. This expenditure has been matched by the inflow of funds from BHP. If anyone can provide an insight it would be appreciated.
In any event, happy New Year folks.

In the period 06/17 to 06/18 the company used 28.76m.
In the period 06/18 to 06/19 the company used 18.5m.
In the three month period 06/19 to 09/19 the company used 25.25m, of which 21.2m was employed in the acquisition of exploration and evaluation assets. This implies a slow down of annualized cash burn on day-to-day expenditure of circa 2m.
Cash at the end of September was 16.5m, which has subsequently been enhanced by the 22m from BHP.
By my reckoning we should have between 35 and 40m left in the bank, which, at normal run rates should equate to nearly 2 years worth of cash. In other words, and contrary to what some may have us believe, we are not "about to run out of cash".
As an aside, and this is almost certainly my mistake, I don't recall seeing an announcement about the acquisition of further assets.

I guess we don't know the answer, but the fact is they must have negotiated for certain companies to be excluded from the anti-collusion terms. This obviously begs the question, "why?". Do they have someone specific in mind? Newcrest? Personally, I believe this is an important clause.
The most recent investment was obviously no more than bridging finance and we all have our views on that. There is another aspect to this, which is they undoubtedly know what MRE3 looks like and it's equally clear they liked what they saw. It's inconceivable they had a look and said "this looks awful, let's pony-up another 22m".

In the 2018 agreement BHP secured the right to collude with "certain parties". This was achieved via an exclusion clause.
Has anyone ever seen the document stating who those "certain parties" are? It would be fascinating to know.
There is also a "certain parties " clause in the Right of First Refusal element of the document.

fhe, I understand reading may not be your strong point, but I didn't say I'd only lost on one share. I said I've only made a loss on my portfolio once in 10 years, which, given we've been in a the longest bull market in history is not exactly surprising, is it?

has been an absolutely terrible year for me on the market. In fact, it's the first time in ten years that I've made a loss.
Despite the fact I've ben investing for nearly 40 years, I still contrived to make some truly basic mistakes. The one which cost me the most money was taking losses on shares that had fallen in price. Without exception, each of those shares has recovered significantly, the consequence of this is that I've suffered a six figure loss. Had I held, I'd be sitting on a six figure gain.
Hitherto, I've had a pretty good record at taking losses; those shares I sold turned out to be real dogs and I never regretted selling. 2019 has been very, very different.
I am sitting on 50% cash at the moment and I'm determined not to make the same mistakes again in the coming year. This share is one of my absolute holds. There is no way 2020 can be as dull as 2019 for SOLG. The company is at a pivot point and we will definitely see plenty of action over the next 12 months.
So, good luck with your choices, folks and fingers crossed.