Member Info for Bozi

Red... They got control because all the main shareholders took the same action... sold over their holdings to them.

They had their own reasons for doing so which are in the public domain.

There's little evidence to suggest SOLG now are comparable.

Quady you are wasting your time, but the continued fight is appreciated

Encouraging signs.

Rarely does the first drill hole of the campaign nail the jackpot but I'm taking enough positivity from what they have noted to date to upscale operations.

It looks like all went well with the drilling and core extraction which is very useful.

Plenty to come.

Of course they do. What has that got to do with a takeover though?

If you're coming into the stock market with a 1-3 year view then should probably curb your expectations a bit. You have to tome things very well to run into a takeover scenario.

A 50-100% return in that time is good going.

Jerry - how have they missed a target of appointing a new CEO? They have simply maintained that this is "in progress" and an announcement will be made when all the formalities have been completed. In term of timeframes al I've heard is "summer".

Please correct me if that isn't the official line.

One of the fundamentals of (most of) the stock market is that news drives volume and liquidity.

If sellers are scarce you have to buy at current price. That's a case of clearing the ask and then any further buy orders push the price up.

It's not appropriate in my view to point to volume or liquidity. Addicknt's point is that a strategic review type announcement usually stipulates those things.... see EUA as a case in point.

Well Addicknt, i don't think we'll be long in finding out.

Irwin has already started a climb down of sorts on Twitter from his uber-bullish position a couple of months ago which suggests to me that the current SolGold board might not be so keen on much deviation from the original plan.

I'm sure if things deteriorate again we'll see more whining on social media, more leaks of information not in the public domain, more collusion with NCM and BHP... in fact hopefully those two kick CGP to the kerb for jumping back into bed with SolGold.

The likeliest conclusion here to my mind and i have to admit it, is that SolGold gets squeezed out of Cascabel. CGPs motives and potential behaviour makes it nigh on impossible to progress this to investment decision, full finance and construction. Timeline... Jan/Feb 2022. Maybe just before Christmas if we see an October PFS.

The question is whether SolGold manages to retain the regional portfolio. I'm undecided on that.

Yes, Addicknt, i think that is the exact reason (market doesn't believe it).

A company works through years of exploration with a minority partner it doesn't see eye to eye with and this results in a board spill notice and eventually a retirement. And then all of a sudden everything is hunky dory. I can't blame the market for not buying it personally. It does feel a little contrived.

Separate question which either you can answer or anyone else looking in. Did that "strategic review" announcement make you buy more of / take an entry into the stock? I suspect the answer is likely to be no.

The market isn't daft. It recognises that SolGold's position for years has been to develop and become a producer and it doesn't buy this promise to reconsider, or it doesn't expect the review to yield a change of direction. Probably the latter.

Are you speaking for yourself there Dhanteras when you say "most people"?

I'm not quite sure what your mad rush is to flip the remaining 50% of the area subject to the JV or even the company?

Peoper wealth isn't created overnight.

If I'm honest I'm sick of investors calling for takeovers or transactions to allow them to flip their shares in the shortest time possible. Everyone is in a mega rush these days....

Shear Class - good post.

Z - one is surfing the coattails of a major who has done it before in a mining jurisdiction that has the t-shirt.

The other is forging new ground on a path barely trodden, in a country trying to embrace new thinking, step by step.

Just the way things are.

Do you honestly believe that Otherncopper?

Newsflow might appear fairly restricted right now but from where I'm sat the company is doing the following in parallel:

1. Selecting and vetting a new CEO
2. Completing the Alpala PFS
3. Exploring at Tandayama America and some of the other satellite targets, feeding the results into a broader Cascabel concession study.
4. Exploring at Porvenir and to a lesser extent some of the other regionals
5. Continuing with it's social and environmental initiatives.

Don't dream up fallacies and allow them to eat you alive.

Ortherncopper

The company has clearly elected to take it's time and make what it feels is the correct appointment. Keith is stewarding in the meantime and given where we are I think it makes sense. He leads on the PFS review and we're very much in PFS stage. They've got the capital raise for 2021 away and it gives them breathing space now to review all candidates, hold site visits etc.

We don't want to be waiting too much longer. We need an appointment and whoever it is needs to have the energy to pull everyone together so we can go on and do good things in Ecuador.

Talking about a company's shares inevitably means you talk about it's peers every once in a while.

We can't be so insular so as to think that the world revolves around SolGold and there's only so many times we can have the takeover or production conversation...

Agree Quady with regards JAY.

51% of the project given up for c.£10m. 15 drill holes following some machine based exploration. Hence the big rampy RNS title.

Quady - absolutely agree with you where the share register is sown up or controlled by one or more interested parties, particularly where they are happy to work together.

Put to one side for a minute what might or might not happen further doen the line. It's all conjecture right now. We need to see what the company has been working on this last 10 months and how TA feeds into this plan.

Another (Australian) junior has, with it's partner, started development at it's gold project. It has close access to all the facilities it needs. There's a clear route to construction and following this first pour but their volumes haven't picked up. Their SP is trundling along support. I don't think it's a case of saying "we need a route to revenue". We need a definitive study with reasonable and conservative assumptions to show a viable and profitable tier 1 project over a multi-generational mine life and at the point an investment decision is made, all cards simply need to be laid on the table by all parties of significance, IMO.

We get that and i think the vast majority of SOLG shareholders will be happy.

Quady, I'm sorry but your diverse book argument isn't as strong as you like to think.

We know what CGPs motives are in all this. It isn't to preserve value until production. They want an exit from Cascabel and would likely favour an exit from SolGold too if a half reasonable opportunity came. It gives them a windfall away from their stake in Alpala.

NCM are almost bystanders in this. They don't have the stake alone to make any discernable difference.

Seeing off a bid that undervalues the company relies on Nick Mather standing firm with his personal holding and that of DGR. Whilst I'd like to think that would happen I'm not sure it could be relied on. Time changes people and he has to also think of the wants and needs of DGR.

Nick holds the key for now but that power ebbs away with every capital raise.

Zoros - so you let a small number of individuals on this bulletin board impinge your enjoyment of being invested in the SolGold story?

I apologise but that sounds pretty frivolous where I'm sat.

You can ignore 1/2/5/10/100/1000 people if you want. What you can't ignore is not having the best position and not seeing things play out to your preference.

It hurts to be wrong. Instead of harvesting a "SOLG is the mother of all doom" attitude and a "stock market is for mugs" approach, just relax, regularly examine your investment thesis, work hard and enjoy your big winners, because not everything can be a big winner.

Rid yourself of negativity. Life is short and we're on whatever journey SOLG takes us on, be it good, bad or indifferent.

That isn't how it works Jezzoo.

The initiatives i mentioned are all part of an investment into the country. You can't turn up and say "we're going to drill holes, dig and construct a mine and we'll chuck you a few quid when we're making a few quid..."

You have to earn the respect of those who are crucial to pushing your operations forward. The local governments, the local workforces etc.

This isn't about Bozi's share purchase or Jezzo's investment gains.

Oh look, Munchbox is back and looking for an entry.

Munchbox - save us all the time and effort and take your bile elsewhere.

Nobody has said that Piedmont are bound to pay the Capex. There's a final investment decision to be made. This is completely normal post the release of a DFS.

Who would tie themselves to paying $70m when they dont5know the finsl economics of the project?

The key point being that if Piedmont say "thanks IRR but no thanks" then almost half of their 50% interest reverts back to IronRidge.

So, it isn't as bad as you're trying to imply.

OG - thank you for your insight.

The only comment I'd make is that this is no longer about Nick Mather. It hasn't been since December 2020. Purely from a SolGold context investors should realise that.

There's a new CEO in the pipeline and as Liam Twigger made the point at Diggers, SOLG has got with the tune and created a board of directors with a majority of independents and a mixture of skillsets and experience. Whatever part Nick played in that, it looks from where I'm sitting like his ego has been put well and truly to one side.

I'm not going to berate the guy for pivotting from just Alpala to the strategy that became Ecuador and the regionals. The opportunity was staring him and the company in the face, this portion of the andean belt being one of the last major unexplored areas in the world. That was about creating something entirely bigger than Nick Mather. It was about trying to create legacies for families all over by creating a truly major company. Yes, thst meant that SOLG were not stepping into Ecuador to make one discovery, prove it up, flip it to a major and disappear into the sunset... that obviously disappointed a few but look at the social capital and the ESG benefits for the people in the country. 350k trees, school developments, bakeries, chicken and fish farms, etc. It's about enriching the lives of those impacted by the company's efforts to facilitate the next level of world urbanisation.

Are we really saying this is about one man and his ego?

That isn't to say Nick Mather is the most humble, modest, skwn to earth bloke anyone could ever wish to meet. I've heard enough accounts to know that's not the case, and i don't doubt that he has riled your friends or acquaintances. I can't say i know what has gone on, but let's keep some balance about this.

And let's remember, looking forwards, that Nick is in the passenger seat now.