Member Info for Bozi

He Jezzoo

Just file this one under,

'Arguments not involving Quady'.

I disagree.

Our PFS shows a very healthy annual and LOM return based on a reserve that will have already been added to. It shows a ridiculously quick payback of 20 weeks even with a CAPEX increase factored in.

The bottom line is that we have a world leading asset that will only grow further and is hugely resilient to even a significant slowdown and pullback in lithium spot prices.

As has been mentioned, keep a calculator handy for those auction highs but in the meantime rest easy in the knowledge that Ewoyaa is going to be hugely significant in the years to come.

RK - I did tell you this when you first said that all would be up for re-election.

It was never ever going to happen.

You're not the only one that was told that however. Purely and simply it amounts to obfuscation from the company.

RK - I gave you my explanation earlier. They're buying future cash flows (not resource, that's an offtake) and those cash flows have to be much more uncertain now given a heightened risk profile consisting of but not limited to:

- the conflict in Ukraine
- the softening of commodity prices (our basket)
- weaker company performance
-weaker general market performance.

It's only my opinion too but I think when you factor in those 4 things there's zero chance of a deal on the same terms as FNV.

RK1- i don't need your explanation of what one is. I'd like your view on why the terms would be the same as the earlier deal with FNV.

Have a look around you Redknight.

Do you think Boliden or Jiangxi would offer funds on the same terms as FNV in this market given Putin's continued aggression, the poor performance of multiple economies, etc?

To suggest they would is pure fantasy as far as I'm concerned.

I'm not Redknight. It's my opinion.

Tell me why a stream would be available on the same terms as the one struck with FNV?

Thanks

Fort - it would do no such thing.

The business' treasury position and funding outlook dictates that any strategic review is in fact dressed up as a fire sale.

Ask yourself why were fighting to hold a £300m valuation with Cascabel, Porvenir and a promising portfolio? Be honest. The market wants none of it until we fill the coffers.

Cazzubbo and the others have a lot to answer for here. Even in Padmaster's best case scenario any sale price would leave plenty offside.

Unfortunately, BHP could easily curry favour with Lasso and his government by firing them half a billion dollars for the Cascabel licences. You have to consider the dynamics of helping fund SOLG vs potential to acquire the asset by not doing the same.

It's very much up in the air right now and I'm not confident the coin will land on our side.

Redknight - i think you need to be VERY careful. You don't want people thinking negative thoughts aloud...why? Because it will stop people buying the stock?

Lets not get drawn into all that.

It's about time management know why shareholders and non-shareholders alike think. Between us we all make the market. This management has got off too long having their egos massaged because of the quality of the asset. They've exhausted their credit in the bank.

I would agree with you that in a normal environment funding options are available. However, this is no ordinary market. Some options are so bad that you wouldn't consider them (talking convertibles from loan sharks here). Even the better options are going to look poor here. For example, even a small £30m stream is going to cost us 0.5%.

There's a real rabbit that is going to need pulling in the next 6-8 weeks but the SP will crater day by day regardless of what you or I say here. It might not be a Sirius in terms of the project financing obstacles but it's comparable in other ways. The good ship SOLG is running aground if we don't chsnge course in the next 2 weeks.

Smickster - I'm invested.

The two options are:

1) Speak freely and honestly and be up front with the other people on this forum
2) Only speak positively or not at all if you don't feel that way.

For me, it's no 1 every time. RK thinks that's perverse and I get where he's coming from but I'd rather be seen as perverse than just contribute to an echo chamber where we all ramp each other to the moon. Where does that get anyone?

That for me, is much more transparent than the unchecked positivity that you refer to.

There's no doubt about it, we should all have sold 3 months ago at 35p, but I didn't. That hasn't played out very well for anyone still holding.

But, the story isn't over yet. Far from it. Now is the time for management to put the blocks back in place to recover. They're going to be short on time, and that brings it's own problems, but they simply need to do it to rescue their reputations.

Smickster - not fair for you to level that accusation.

I've been both positive and negative about SolGold in equal measure. You, however, have never had a bad word to say about anything ever, despite the absolute mire we currently find ourselves in.

Maybe you should look a little closer to home.

Yeah I'll let you have that one Fort.

They'll all leave on the morning of the meeting to "pursue other opportunities".

It'll just be Twigger sat there in his own as if he's reading the news.

Fort - you've called this wrong all along. Don't pull the "oh I warned you all 3 weeks ago card."

Company now valued less than net assets. Certainly an opportunity for those who can hold their nose.

Get the funding done SOLG, even if it's £30m at 12p. Just get it done and never make this mistake again.

Agree SeanH. Really poor take that from Quady.

Well, you just don't sell into bear market lows RK.

It doesn't mean everyone is happy/satisfied/content. After all, how can they be when they are suffering on paper to the tune you mention?

It's about battening down the hatches and hoping we can emerge unscathed IMO.

Agreed RK.

Must say i was speaking generally when making the point and even in BHPs case, reinvesting some of their retained earnings in SOLG is going to be more efficient than printing their own equity.

Their equity is more attractive to shareholders of the target though, so it's swings and roundabouts.

Right Fort, so using your own logic (or imagination), why did SOLG back down to BHP/NCM instead of just cutting them out of the equiry raise and pushing on with a smaller amount of £35-40m (5% of the share capital)?

The downside is that package would have hindered what regional exploration we could do but it would be to the betterment of the development of Alpala. As it is, we're limping along on both fronts.

There were 3 options. The sort of deal you mention, the equity or the deferral. Our management opted for the latter and it has delivered the worst possible outcome.

Not strictly true DartFrog. As a general rule, miners are cash rich due to the spritely spot prices many commodities experienced in late 2021 and Q1 2022.

They are however, quite subdued in terms of their own share prices given the softening that has occured in Q3. Those factors combined should see any M&A happen primarily in cash as acquiring firms won't want to excessively dilute to take on new projects.

Fort, there's a big difference between a confidentiality agreement /NDA and an agreement barring trading in the company's stock.

The former is understandable if unlikely to still be live now but the latter makes zero sense. Nobody is going to sign to re-lock themselves in on the basis that they had some conversations two months ago.

I suspect we're close now anyway. Insti shareholders will have been told to bring their chequebooks and their laptops to the Alpala camp today and I'm sure we'll hear about something pretty soon.