Member Info for Bozi

Quady - your example is a really poor one. Newcrest don't own any stock in GGP. They will eventually own up to 75% of the Havieron deposit.

Also, Norges have seemingly managed to build 4% in SOLG without making things too expensive. In fact the price is 15- 20% lower now than when they may have been buying.

It's easily possible if done in blocks. If

Jezzoo - fair enough point taken.

Quady - there's a bit of a difference between having provisional pledges and binding agreements. Can we be sure that the party of parties that indicated they'd provide a billion quid two years ago still would do the same today?

We need binding agreements. If it's too early then we should look at MOUs or LOIs. But either way we the company should be telling the market who wants to get on board by means of re-enforcing the SOLG story.

There's only so long that soundbites like "next cab off the rank" will hold.

Jezzoo - wishful thinking from you I'm afraid.

BHP know that were a party from the East to approach then it would have to be a knock your eye out proposal to get through, i.e. more than BHP are willing to pay. Anything less and they know that Mather, DGR, Newcrest and maybe even the likes of CGP and Blackrock will reject.

You'll get a situation where all the PIs try and tender their shares but the proposal gets blocked, and it would be pretty hilarious viewing.

Quady - just to pick you up on this comment,

"Problem with that is everyone knows what their shares are worth and no one will sell out cheap."

If that were true we wouldn't have a share price that is averse to spending any significant length of time in the 30s.

The fact that this is continually seek support in the mid-high 20s suggests that people think it's worth that much. There is an imbalance when the share price goes higher (with sellers taking control) and it's only 25/26 when the buyers come back in.

In my opinion, BHP know they don't need to act in the market until someone else does. In the meantime they can use their shareholding and influence to lobby management and ultimately remove some of them at AGM time, and that will happen again in December.

I at least appreciate why SeanHunter is exasporated. He knows that the more BHP turn the screw in the background the more detriment there is to the SOLG story, and the more risk to our investments.

Quady - the issue with what you're saying is that you're trotting the same line out from the company. All the while the company has provided zero, absolutely nish, to the market by means of an update on the conditional financing package.

Saying, "Ayten and Ingo are working on it" is simply not enough. We want to know what discussions they've had and with whom. We want to know which third parties they've engaged (if any), we want to know what the complete package will look like insofar as the various components - debt, equity, streams etc.

Given the glaring lack of detail SOLG have provided on their efforts to finance Alpala to date, I don't believe you can literally refer to a comment made 6/12/18 months ago. How long can you refer to such comments before they expire? As i said last week, the general health of world markets has changed and this impacts the availability of finance on good terms.

In my view, we're now at the stage where we believe SOLG can finance it when they go and finance it. They no longer have that credit in the bank.

Similar story here Shedit. I started buying between 38-42p thinking there was a chance I'd be getting a bargain.

A well received product with vital life saving application in a forward looking market...

It wasn't long after that various members of the BoD started buying steadily.

That was at prices 50-70% higher than here, giving me belief that we're really in gift territory now. I have been averaging down, and will probably take some more should price break down again.

The market is sleeping now because it's risk off. Earlier it was just sleeping on this opportunity.

Some brokers cant/won't post shareholdings to individual accounts whilst the shares are certificated form, as Ricca are.

I suspect we might find them appear on your account in the lead up to the Ricca IPO when shares get registered with a depository.

"... the puppeteer of SolGold..."

Come on Bob, what does that even mean?

Nick was CEO for a long period which covered some pretty serious share price ascendancy as it happens. This is important to us all of course, but I don't base all my decisions off it in isolation.

I think we have to look at the current position for what it is. Nick is on the board and therefore should have an influence in certain board decisions. How fair it is to call him a puppeteer though on the basis that people he employed take his counsel (to some extent) I'm less sure.

We now have a CEO and a new CFO. Both in position. It's about time, in my view at least that we disassociate Nick Mather as being in control of SolGold's destiny.

It's not unfeasible that Nick is one of the board members not re-elected In December yet we don't see a bid of suitable JV approach in 2023. How do we reconcile that Bob?

Fancy basing your vote on the re-election of a non-executive director solely on the share price...

Ridiculous doesn't really cut it.

It's no wonder we find ourselves in this situation with lots of PIs baying for a transaction when that is the line of thought.

One thing I will say is that SolGold need to do something. The 2022 AGM moved into the crosshairs the moment the 2020 AGM took place and the voting intentions of our major shareholders became known.

I suspect management are battening down the hatches here because they know full well that BHP won't care what the share price is come December. In fact, the lower the better for them.

You only have to ask yourselves why SolGold didn't seek finance in Q1 or early Q2, especially with Norges accumulating on the open market.

I said then that the writing was on the wall and I've not seen anything since to change my view. It's too late to raise regional exploration funds now, re-mobilise rigs and hope for a third significant discovery.

The market will probably just trade it anyway.

:-)

There's a diverse range of views on Telegram and given where sentiment is right now BoD have copped at least their share of flack.

Supporters are welcome to share their views, and when this turns, as it surely will, hopefully we can move forward with the general consensus feeling better about things.

Swest - isn't it better to make those points where they're being discussed?

I agree with you by the way, I just don't see the benefit in bringing over topics of conversation happening somewhere else.

Did say as much months ago. KCB is the company making asset in the portfolio and should have been targeted first..

I do remember you saying this just a fortnight ago Levs,

"This stock is still an absolute bar again under 55p.
The whole market has suffered recently but let’s face it, there can’t be a more promising stock on AIM than ALL. On that note I’ll be selling the last bit of my other stocks this morning to go all in here."

How did that work out for you, or are you someone that is all talk and no do?

MR - reported for cross ramping basket case stocks on here.

Quady - as you know I've tried to lake a longer term view than many with SolGold. However, i must say that i can't agree with your outlook.

Any finance package has to include a portion of equity, particularly one in the mould of $2.5bn like Cascabel.

Quite conceivably we're looking at about $500m in new shares with the rest comi gfrom the instruments you mention.

However, world markets in the face of an impending global recession have swung into view. Going out to banks and other investors for the amounts we're talking in this environment isn't going to be sensible. The cost of capital will be very high and there's an increased risk that we don't get the money we need.

Whilst I'd love to be holding some stock into an organically achieved Alpala production story i can't help but admitting that this ship has sailed into the sunset. We needed to strike in this period of low interest rates and healthy equity markets.

After all, there's a reason that BHP have sat motionless in the background and that's because they know that there's a time where their capital becomes the most appealing. We're getting closer all the time.

LunchMoney - a quality contributor but nail squarely on head at 9:05.

Sean 'buy me a crate' Hunter has a nice ring to it, don't you think...?

You'll have enough beer to drown all of our sorrows when SOLG blow BHP's best battleship out of the water.

Cyfa - some of us have watched PREM from a distance for years and have seen all we need to stay well clear.

Good luck.

There was a clear focus on it anyway Addicknt. One or two displayed their unhappiness but many didn't, instead looking to potential motives for the resolutions in the first place

Rcgl2 - you're right. There's definitely been heavy focus on the change of control scenario. After all it's what everyone wants.

The crux of it for me is what constitutes the remuneration (whatever it's form) being awarded in the first place?