Member Info for Bozi

Nothing wrong whatsoever Shark.

What is it they say is bliss?

... If he wants to be public enemy number 1 Medar...

If he doesn't enjoy his job and doesn't want to lead the company going forwards.

Another 52w low today. Utterly fabulous.

Good luck to Darryl trying to raise funds on this valuation. As Tony Beets would say, it sucks to be him.

Fort - I don't know the full background story behind Oz but yes, I'd be inclined to say it was bad management.

Just because an offer came in at $25 that doesn't excuse what went before.

To use your supply and demand scale theory. What creates a lack of demand for a stock, thus dropping the price?

1. A weaker investment case
2. Poorer fundamentals
3. Adverse company news such as profit warnings, operational mishaps, financial sloppiness, etc

All of the above is directly controlled by management.

Now, we can also include the wider macro picture, but this one is an uncontrollable variable. However, management can take steps to position a business on a good footing should any downturn happen. It's called operational resilience.

Similarly, a lack of supply of stock is cause by increased demand and a lack of sellers. Why? Because all those variables I just mentioned are being well managed or are in a company's favour.

So yes, the share price is just a valuation tool for traders but it tells the story of the stock, as does the chart. To suggest it's meaningless until there's a corporate catalyst, is, well, not true.

No, it really is as simple as that Mathers.

A stronger share price is an indicator of good positive management performance.

Good management performance inspires trust from investors. Both existing shareholders who are happy to let management steer the ship and new investors who are willing to chip in with new capital.

If the SP is 38p the market you trust management to secure the finance required and make good decisions for the business and it's shareholders.

Given this IS the case, the reverse is also true.

I don't know how you can even dispute this Mathers. I'm here for genuine discussion, not for cloak and daggers and tit-for-tat.

If you really believe I'm wrong on this then there's nothing more I can say but bid you good day.

Dave the horse - you sold out last week did you not?

So you and people like you are the ones contribution to the lack of positive action.

Just thought it worth pointing out

Add - agree.

To be honest the stamp duty threshold uplifts is something that could play into my hands personally but the first thing I said to a work colleague was what are they doing on the other side of the equation.

You simply have to tackle both sides or none at all.

Mathers - if the SP was at 38p now the company would be doing its job far far better and there would therefore be much more goodwill from investors.

It really is as simple as that.

I've got to wonder what it will take for you and Quady to actually realise something isn't right here. A PFS addendum slippage maybe or a SP sub 12p? You tell me.

"Ecuador politics rock solid"

That has cheered me up no end after Kwarteng's disasterclass of a mini budget.

Morning Quady

I have to admit that is a patronising post.

There are investors who are huge amounts of money in the red, partly in due to the questionable actions of SolGold management.

Please don't tell them they need to be patient and need to forget the share price. It is of course beneficial if you can, and you can be personally satisfied that you can, but not everybody can.

You may be happy with the company's communication but not everyone has to share that view. I personally see both sides of the coin on this. I'm happy the company has delivered on the previously stated deliverables but I have no qualms with anyone who expects more frequent updates on the business generally.

Part of the share price decimation is due to sector weakness but part is due to company management foul ups. Any company in the market should be positioning itself to recover quickly and substantially when the worm turns, but unfortunately, SolGold's weak treasury and board uncertainty will both be continued drags on the share price.

I'm not so sure DBW.

We've discussed in the past how a purchase of Cascabel raises a large tax liability for SolGold and I don't know if the company ever fully negated that by changing their corporate structure?

In any event, my concern would be that SolGold becomes cash rich but flagship asset-less.

I've seen these markets disregard cash wealthy companies on many occasions and I'm not sure that Porvenir has the necessary scale to develop as a tier 1? I think we'd have a rocky road getting the project added to those avoiding the moratorium and our relations with the Ecuadorean government may even deteriorate if Cascabel's ownership went east.

In short, I think the pitfalls outweigh the benefits.

Jezzoo - it has to be someone with deepish pockets, someone BHP deem credible.

Someone like a Fortesque.

Basically, someone has to make the first move, at the risk that BHP say "go on you have it".

Nobody really believes BHP would do that. So what is the alternative? Drive the price low so that the opening offer is paltry and then BHP come in with something many believe to be fairer. Then the Mather consortium appears at the 11th hour.

It's wishful thinking and I'm half expecting Mathers finger to appear calling me Meg, but it's the only way I can see BHP losing out. If they go toe to toe with Mather's proxy then we all win.

Sorry DBW. I I was referring to BHP, NCM, Irwin and the folks at CGP and potentially others.

He has made many enemies by driving the hard bargain for retail investors and I sincerely hope you're right that he has something up his sleeve.

I thought everyone hated him though DBW. All we heard was of his massive ego that made him impossible to work with.

I think you're right by the way. This is the ace (joker the wrong term) in our pack.

However, it's quite probable that BHP knows this. How do you starve them out though?

If SOLG raised their limit in equity each year before anti dilution rights apply BHP can just maintain their stake in the open market. Or they could sell their stake aggressively and trash the share price.

There's a solution though. It requires a bait. A sacrificial lamb if you want to call it that.

M_Night

Stop ramping your cat**** PREM over here. They've thrown together a pilot plant to keep the ramp going a bit longer.

Do they have a credible technical report yet? How about a PFS? The recent drill results in all but one of the holes were pitiful.

It's Vanarama compared with ALL which is Premier League.

Think a lot of that was instigated by Keith Marshall, Ship.

Porvenir I'm sure would be trumpeted more if it were a larger project or had clusters in the immediate areas. As it is, it's a nice intercept but not significant.

Time for SOLG to get moving. Get funded. Get to DFS and get some drilling done at Helipuerto.

If we were able to show an extension to Warintza under our licence then that would change the game. I think you could see a SolGold /Solaris merger and the next burgeoning major. It would be a mighty spanner in the works for others anyway.

Frankincense - they sort of had a good few weeks of interviewing her and testing her aptitude to decide that before they offered a contract of employment.

Entirely possible someone else made a bum call but much more likely to be the other way round.

What error can she have made? The budgets would have already been set out for her, payroll up and running, contracts for drills and third party work all paused as per the company policy.

Saridas' first job was to meet the big stakeholders and get to grips with the corporate environment and culture at SOLG. She clearly didn't like what she saw.

I think resign is exactly what Saridas did.

Her first month in the job would have been met with arguing and general stalemate between BHP and Newcrest and Mather.

Saridas likely said "I'll leave you children to run this business into the ground. Not on my watch."

And so here we are...

Good morning Quady

1.) Whilst that is of course the case, the fact we had some quite public statements in the aftermath of our RNS, particularly from Sandeep Biswas, suggests that what took place was more than just routine course of business conversation. Whether that's true or not we don't know but Sandeep's comments for media certainly lent a perspective.

2 ) I was intentionally trying to miss the early days where we often got down to our last few thousand pounds before offering the bowl to our company broker at the time. We were a different company then and in the last 3 or 4 years in particular have been quite clear about staying well cashed up in order to negate a situation, well, like this.

3.) I wish i could share your confidence. The word out there is that it's getting very tight for explorers. You only have to look at the snap decision made by Shaun Day at GGP. That could possibly turn out to be a masterstroke for their investors if they can continue to make progress over the next 3-6 months.

Personally i think that we need some funds to progress Cascabel to DFS and we also need a pot to test the concept at Helipuerto, so our funding needs won't be insignificant if not enormous. We'll need about £40m for about 6-8 months.