Member Info for Bozi

Eish - if you have no idea what's going on in the background how do you know that there's something afoot?

If there was something afoot, would SOLG bother with an EGM?
If there was something afoot, would certain shareholders waste time lobbying against said EGM?

The fact we have an EGM and a new CFO coming in suggests SOLGs board is trying to plan for the medium to long term.

Just my view.

I wouldn't invest in a George Roach company with counterfeit.

Hope that makes my position clear ilovelithium.

DBW - the company year reason provided earlier is very likely to be spot on. You wouldn't want a completely different remuneration policy getting introduced mid year.

I might well be wrong but nothing else to see here as far as I'm concerned.

Also, with regards the selling of other assets (and I'm referring to non Cascabel /Porvenir here), I think I'd be right in saying they're not worth very much at all.

There hasn't been a significant discovery, no reportable resources etc. Whilst soil sampling and rock channelling has been positive across a number of them, they are too early stage to be worth anything significant.

It's worth bearing this in mind when almost baying for the company to be carved up piecemeal.

The tenement package was put together en masse in a land grab. The priority areas were identified and now the lesser priority areas are being handed back slowly. Result should be a more manageable portfolio of fantastic prospects. Completely and utterly the correct strategy. Far too early to be talking about selling subsidiaries IMO.

Addicknt - agree with your 8.10 post.

Come on Z - surely you know that Fortissimo is the poster formerly known as Colonel Drake?

Swest42- not in the slightest. Why would it be?

We have commenced stage 2 of the agreement with Piedmont which means they need to stump up $17m USD (for a 22.5% project stake) to get us up to DFS with certain parameters (which have basically already been met) and also to fast track regional exploration which we're seeing right now. $12m on the former and $5m on the latter.

Piedmont raised $130m in March.

How well funded they are to complete stage 3 and the partnership agreement will be a question for 6 months time. That depends on their own cash burn between now and then and their own company outlook. I'm sure they have many funding options available.

It's worth noting as well that ALL have approx $15-16m on treasury based on figures released last month.

Factor in any potential investment from MIIF to come...

Naturally DBW, you were probably hoping it would be BHP, Norges or another.

There's a lot of misunderstanding about Blackrock still, continually pushed by BBG and lapped up by others. They have hundreds targeting every investment type/sector you can think of and they're increasing their equity position in SolGold, but instead some want to sow the seed that they're chief manipulators and keen to put a ceiling on our share price.

Just ask, what benefit would the 4.8% of Blackrock held physical equity derive from a 0.45% derivative position being used to loan stock out? None. Completely counterproductive. The 0.45% instrument is probably a long CFD for all we know.

I took that to mean on their own land packages Addicknt but I take your point.

You raise an interesting point on Porvenir DBW. A 500mt resource starting from surface with several targets still to be tested.

There's no reason this can't become a fantastic asset in its own right but using this as a starter to generate profits to reinvest in Cascabel would be serious can kicking for Alpala.

It's probably time for me to admit that I'm well aware we need a bit of help. I just try and offer a bit of a different viewpoint from the takeover now narrative.

Addicknt - on 2) - have they? What have they stated?

If you read their recent report you'll see they take great pride in distributing capital back to investors and plan to continue doing this where they see no suitable opportunities in the market.

So much for their Ecuadorian intentions.

On 3) I can't answer that as I don't control the BHP pursestrings or investment portfolio. You'd have to ask them that. But the same applies, they haven't made any offers for SOLG, Filo or other assets like Warintza(Solaris).

3 big copper gold assets in the last unexplored frontier with an impending copper supply deficit. Explain that one away...

DBW - there are numerous flaws with your argument.

On CGP - have you any proof they are content just because they aren't publicly vocal? Appearances can be misleading.

On DGR, another company in the stable - Atlantic Lithium - is also rumoured to be subject to offers with the company confirming in April that unsolicited approaches had been received. So, don't necessarily assume any DGR behaviour is SolGold motivated.

The EGM is being used because they fear carnage at the AGM which will render the resolutions hopeless, in my opinion. I can't think of any other reason, but ask yourself why they'd put in long term remuneration policies if they planned to sell the company in a matter of weeks?

As for the article, it's pretty flimsy. It got the PFS right(calculated guess) but only two trading weeks left in June to find out about the rest. We'll see how smart the smart money is.

*they're happy to watch

Addicknt - all hypothetically speaking now but maybe:

1. They don't want to buy assets at this stage of the value curve, preferring instead to give cash back to their own shareholders and reinvest in their projects (they've said this themselves).

2. Maybe they've had bad experiences in South America in the past and are still feeling the aftershocks of that.

3. Maybe they have seen peers make a dogs dinner of large assets in similar territories and don't wish to take on the risk to their business of something similar happening.

4. Maybe their happy to watch the SolGold's, Filo Mining's etc try to pave their own way and pick up the assets at a firesale should the company run out of social capital, actual capital and goodwill.

Maybe the actual pertinent question here, given the production argument is so frail, is for me to ask you why SolGold is meandering towards 2023 as an active entity with a newly appointed CFO and recently appointed CEO, with forward plans on final studies and development?

The production argument is stronger than you think because the takeover argument isn't quite as strong as you think.

Many did Sean. But more didn't. As time has gone on more and more have resented Mather for not flipping this on for a quick profit.

But then again, investors shouldn't really have been buying this if that was the model they were after, because that was never the model here. There's a lot of choice on the market. People should have been buying a company actively looking to monetise their asset. Cornerstone being an example.

I agree with some of your other points but would argue there is a route to becoming a producer. Granted it is frought with various risks but a company with Cascabel and Porvenir in production with more projects emerging from the regional portfolio does appeal to anyone who can bottom drawer them as you say.

Sean- SOLG has said for a few years now that it is aiming to become a copper gold major.

So investors knew how what they'd bought was evolving.

But many continued to hold despite the company appearing favourable to a sale only in the event that a suitable offer came. To date it hasn't.

BHP, the apparent frontrunners, aren't daft either. They know they can chip away at the old guard board at AGMs, colluding with NCM and CGP.

Some, like CD, used to say they were in a hurry and had to strike now. One of a few things he was wrong about.

Sean - can you consider that you've answered your own question perfectly.

Price is here because the traders have stopped trading in the volumes they once were. You yourself are holding on for example. You clearly aren't alone as the Mining Journal pinned us to June.

Now, tell me what happens should June and July pass without that offer for the company? Yes, you got it. Your money and plenty of others moves out. Hello low 20s or high teens.

Then and only then will BHP make an appearance.

You know it makes sense.

RK1 - I belive they'll trend up but it won't be plain sailing.

I just think it's a bit remiss people counting down to the end of June as if it's some bonafide deadline because one article quoted June for an offer.

Perspective required. Not building ourselves up for disappointment.

Haha fantastic effort SeanHunter. At least two clichés in your little ditty.

Maybe you should go away and research how non-revenue resource juniors work instead of bumping your gums about dilution. See, it can work both ways can't it?

For what it's worth, the excitement has been caused by a single article in the mining journal. That's all you have, literally. Bit desperate.

I'll stay positioned thanks.

If I had a pound for every "bid incoming" on here I wouldn't need to invest in SolGold.

I wonder if the same commentators will make the same statements when we're fighting to hold 30p later this week or looking for support in the upper 20s next week.

Because that's how it goes. Precious metals are buoyant in this market but it won't last.

You wonder why so many lemmings get caught on a spike and then start spouting their vitriol about what a terrible company it is on places like here. It's because they get taken in by all the incessant ramping.

Just enjoy your summer's and we'll see what happens come September and Q4.