Member Info for Bozi

OK, let's assume that there was no attempted fundraise. Let's now answer the following questions, to which I'm not pushing anyone in any direction:

1.) Why did the company consult major shareholders early in the summer if it wasn't raising funds?

2.) is there a precedent over the last 5 years for SolGold letting treasury fall below $15m (this happens within 4 weeks)?

3.) With the AGM coming into view and the potential for further management upheaval, do you think it's feasible that the company now approaches the market, should no other option be agreeable?

I'm sure Citi are thrilled with this rather meek bid defence. It's not the bid defence that long term investors deserve, a bid defence built upon efficient use of cash reserves, of regular high impact catalysts (one small scale PFS and a couple of MREs in 18 months doesn't really make the grade). The board should be working doubly hard to make sure the SolGold story is still one of the best in town but they're doing the opposite.

As for Berry Street and their worth - I have no affinity for them but to say they are not worth airplay wouldn't be absolutely fair. They are, after all, an FCA authorised firm and therefore can't just publish any old tosh to meet their own needs. They're a regulated firm and must adhere to UK regulations at all times.

Morning GoneRogue.

I agree that lithium and battery metals in general are critical to our future, particularly if we're serious about reducing emissions and helping the environment.

The one negative (if you want to call it that) is that the mining/exploitation process will cause a footprint initially but the benefits of having that resource processed for use in various green applications should be a significant net benefit.

The key consideration for ALL and Piedmont is going to be the construction of a mine with hopefully the highest standards of technology, tailings management, hydro and electric systems etc. Having a state-of-the-art mine will provide benefits for the Ghanaian people and be of interest to investors.

In terms of how else the Ghanaian people will benefit, we have jobs, the government's tax take (which should be significant) and also a potential direct % ownership of the project.

It's important to balance the benefits of the partners with those of the local people. Ewoyaa and the surrounding licence areas should be a fantastic opportunity for Ghana.

Darren - agree that this is time for strong leadership.

We had our last piece of business related news on 28 July. That means we're about due an update, even if it's a state of little to no change.

Markets are teetering. The share price is weak. Now is the time where a bit of communication and maybe some open market buys wouldn't go amiss. The market picks up on those signals and fresh impetus is likely to be a good thing.

Same applies if there's nothing positive to say. Still go on and say it. Shareholders want honesty and openness.

Hahahahahaha Fortissimo in-the-know.

What a load of guff.

Just don't be expecting a big special divi with any JV.

How did you know Novice - thought you'd filtered him?

Well I can only speak for you Novice - but trolling the POLY board is now dealing you and us all by association a great deal of karma.

Maybe just keep your own counsel a little bit more instead of looking to wind up whoever gets on your nerves.

The question around insolvency is not hugely relevant right now but it becomes more relevsnt with each passing month that we don't secure finance to keep the lights on.

That is uncomfortable for me to say and it should be uncomfortable for you to read. But that is the fact of the matter.

$26m as at the end of June, so likely somewhere around $17-20m at the end of this month. For a company with one tier 1 and a need to defend itself from predation this is not a good position to be in.

There's no point me emailing Nick or Darryl. I trust others will be doing that and why add another steaming turd (my email) to their inbox. They need to be running the business, not dealing with me, besides.

Crossing my fingers and holding my nose will get me through the winter.

Good luck.

I might well be wrong. I hope i am.

Ordinarily I'd back our management to find a solution, and i suppose i have again by holding the stock, but I'm concerned by market conditions and also the politics between our major shareholders. A couple of huge obstacles there that we need to navigate.

Well with all due respect, you're clearly not following the story too closely Josepi.

This could, quite conceivably, hit somewhere in the 15-18p region if SOLG does a capital raise soon. If they don't then we'll be sliding towards 12/13p come the AGM.

An updated PFS will provide a brief relief rally but with no cash in the bank that won't last long. The market hasn't treated Porvenir as hsving any significance for some time now so a PEA there, whilst useful for us, will likely be disregarded.

There's no reliance on dropping good news before the AGM. Darryl won't be up for re-election. Mather will exit stage left. The independents will likely be kept, and on we'll go to 2023.

These are going cheaper yet. Get ready.

Add - Rule's thinking is that a good management will be able to spin a bad asset to sound good, this creating value for those who are shrewd enough to take their profits, i.e. him and his ilk.

It's a logic that's hard to argue with, particularly on the markets over the other side of the pond.

I don't see the relevance of your question Fort.

Norges have been stake building over time. They know that the size they play with can't typically revolve around picking bottoms.

They've accumulated a position they deem to be good value but plainly and simply, by virtue of the current share price, and assuming their average is somewhere in the mid to high 20s, they've got it wrong.

As for. Blackrock, similar situation albeit we've covered them before in detail.

Be careful of falling into the trap that because Norges are buying so should you. Norges are just as likely and able to make a bad decision as you or I. The cost of theirs will be significantly higher.

Those who were selling whilst Norges were buying have got this right, as of now.

Haha Addicknt.

By a local bottom I mean a low that isn't an all time low, the March 2020 low being another example.

Agree SM regarding the GGP valuation.

What needs considering, and this applies for every stock on the market - who is going to take part in a placing at an inflated valuation? Nobody in the right mind.

There's a reason after all why SOLG is in the 18s and struggling to move higher. Because financing needs are upon us.

What doesn't appear to be accepted just yet, is that SOLG will soon be carrying out a financing at somewhere near a local bottom.

Both, JimmyDarko.

The latter particularly.

Ouch. Let's hope there's nothing else in your portfolio to add to that unenviable record.

They aren't the same type of suspension MineFinder.

Trading is sometimes suspended for regulatory reasons, if, for example, a company doesn't file it's annual report by the deadline. A company may also suspend if it's subject to something like a reverse takeover (predominantly cash shells) or if it intends to delist from the market.

Other than that. companies won't (usually) suspend just to make an announcement. They'll just announce at 7am so the whole market has the news in advance of the open.

When was the last time it happened, if it happens so often?

Other markets have a clear suspension protocol for capital raises and other material announcements. London does not.

SOLG would only suspend if a functional market could not be maintained. That would be some leak. Virtually no chance it happens anyway.

Fomad - London listed stocks don't suspend in anticipation of an announcement so there should be no concerns on that front.

Fort - you do realise it's possible to squeeze NM. In fact, this could be what we're witnessing now.

Have a think why Orbis Gold only gets a fleeting mention in his bio. Have a read of the story.

Hopefully NM will be the man that saves us all but it's by no means a given.

Jezzoo - a vote isn't relevant here. Everyone just needs to behave themselves.

Slug gets cancelled because he regularly breaks the rules with abusive and divisive commentary about any member he doesn't agree with. Others will act on this by notifying admin.

You think that organising yet another Quady pile on from Slug apologists is democratic? It isn't. In fact, you could argue that it's another brand of wokeness. I'm not sure that we're ready for that conversation yet.

Your options are to fight fire with fire and act against others in the same way that you feel Slug is treated, or you increase the standards of behaviour and ignore any influences or contributions that aren't in keeping with those standards.

The first option will be considered a no-go so the second it is.