Member Info for Bozi

SM

So you are basing your entire thesis for the near term strategy of SolGold on the public reaction of one man who has form for massaging the market to suit his own fund's gains?

Hmmm. Solid.

Jerry - all they did was rush to the market with information they were privy to as a minority project partner.

There is no saying whether SolGold would or would not have released the same information.

Nick made the mistake of telling them before the broader market, clearly as he thought their professionalism could be trusted. He learned a valuable lesson from that.

If SolGold investors want to read from that that CGP are the beacon of light then that's their prerogative but it was clear to me what the issue was.

So Addicknt, are you trying to suggest that SolGold management has provided assurance to CGP that it will act in a manner that delivers an exit from Cascabel, probably for both parties, in return for being able to tell the market that we're buddies again?

Really? Do you expect us to believe that?

They're welcome to sell their share whenever they want DBW. SOLG has no control over this.

Why should Warren and CGP have any say over what happens at SolGold? They don't hold our stock (Sangha aside).

Why does SOLG need to exit Cascabel to appease CGP? Is it because they know they can't sell their stake without us selling ours? Maybe they should have thought about that when Nick made them a very generous offer to combine.

It's OK trying to follow the Irwin and CGP logic but you've got to admit that they're behavious has been bizarre throughout, yet the propaganda lays blame at the door of Nick Mather, and SolGold. Funny, that.

Spot on, Frog.

Addicknt - you know full well that the comment about reviewing all strategic options was fairly inconsequential. That is what you'd expect any company to do.

You also know that, should, for example, a takeover offer be made, that the announcement will include a disclaimer to say there is no guarantee that any such offer would go ahead.

There's another company on the London markets that made a comment about reviewing all options with the view to a sale 12-18 months ago and they have yet to announce any material progress.

It's very much business as usual at SOLG despite any subliminal readings on any RNS', company literature or market commentary.

Correct, Quady.

I try to be Rich3r. I know I don't always see eye to eye with everyone but there's never any malice.

I have also long been surprised that nobody chanced their arm with a speculative approach at least, particularly with relations as fraught as reported before the recent mediation. I can only think that there must be a different mentality between private investors and corporates. Is a value proposition for us the same as it is for them? I thought it was but maybe I am wrong. I suppose value for us is in stock prices and value for them is in project values and commodity spot and future prices.

I hear you about the picking off of one by the other where BHP and NCM are concerned. I was just wondering if they might move to create a behemoth and almost corner the market ahead of the rumoured supercycle. It would have to suit both sets of shareholders and that is easier said than done, but with the current gold rush in Aus I do wonder if it would be a way of taking a stranglehold of each metal. We know BHP want copper and NCM know gold. I can't help but think there would be some synergy.

As long as SOLG benefit somewhere I'm sure we're both going to be content.

What news are you waiting for BobMuckie?

"BHP tables offer for minnow SolGold"

I'll put the same scenario to you. Should copper become more scarce in the next couple of years and the price of gold climb against the current economic backdrop, can you imagine the worth of Cascabel and the other discoveries in Ecuador?

Gold Dust.

Dont forget that SolGold moved into Ecuador as the last underexplored jurisdiction for porphyries and epithermals in the world and have since pegged the biggest tenement package of any company.

Why rush to give it up?

Build it and they will come.

Cascabel. Porvenir. Who next???????

Well I made the assumption on the basis that you have been around the SOLG discussion for a good few years. I am sorry to hear you're offside on a fair portion (and I mean that sincerely).

If we assume a bullish set of company specific fundamentals, i.e. a viable mine plan and a realistic and shareholder friendly financing package, why wouldn't some company interest become public?

Alpala is the largest undeveloped resource not in the hands of a major. Hopefully the satellite targets can enhance the mining plan (not sure adding major tonnage is hugely essential).

So why don't you sell now and enjoy your profits Rich3r?

You talk about being tired at the apparent slowness of SolGold progressing their assets. Can you give me an example of a company of similar size and resource that has developed an asset of this size and technical complexity, in a jurisdiction still finding it's peace with mining, quicker than SolGold has brought Alpala through?

I'm not talking about waiting another 5yrs by the way, although that would probably take us right into the sweet spot of the copper supply deficit. I am talking about waiting another 12 - 18 months at which point we should have:

1. PFS and advanced (if not complete) DFS on Cascabel.
2. A good idea as to the resource potential at Porvenir ( maybe MRE 2/3 and a PEA or even a PFS
3. Big potential for another significant discovery at one of the other regionals.

I know people want their money and all that but I just think that if someone has a rolling time horizon of wanting or needing something to happen within 1-3 months then they should consider whether they should be holding at all.

Agree rcgl2.

My paint is not close to being dry to put it in Zoros' terms.

Nothing stopping anyone selling now. I why should SolGold sell the company now so they can get their cheese?

Can you imagine if copper and gold prices trend up where many commentators anticipate over the next 12/24/36 months and Alpala becomes a super super asset, yet SOLG PIs bailed far too early in 2021.

A bit of patience ought to pay off large subject to the usual caveats.

Nope that is all very valid fbrj.

When i first invested in KAV shortly after IPO i reached out to the BoD to try and glean what future policy might be in terms of dilution.

What has happened doesn't really match what i was told but I'm not sure the directors were expecting Covid-19, the market sell-off. That financing at sub 1p was pretty desperate stuff all truth told as the company needed funds at just about the worst time possible.

It's one of the risks of investing in pre revenue early stage junior exploration companies i suppose. I'm not pleased with the dilution at all and if it continues in similsr vein in the next financing I'll be re-assessing my position.

But ultimately i think the KSZ is potentially special and the KCB assets look promising. I would just like Mssrs Foster, Turney, Moles etc to be careful over future share issuance. SI will throw cash at them from time to time but it has to be on the right terms for all investors and not just those lucky enough to take part.

I can't blame Wright really. It was a no brainer. But yes, i do think he has stepped down from the board so he can trade his rather large holding in the company.

Interesting trades going through.

MMs are either letting someone in at 18.8-19.1p with every man and his dog having to pay a premium or they're holding price steady whilst someone departs at the same level.

I have a suspicion it's the latter personally but happy to be wrong.

RK - you post your trades because it meets with your personality. You should just be honest and admit that. It's no bad thing. We're all different and life would be boring if we all thought and acted the same.

You like to feel important and you like to have our calls and actions recorded, likely due to a confidence in your investing ability and your ability to read wider markets.

Personally speaking, it wouldn't bother me in the slightest if you sold your full holding today, tomorrow or whenever. The same applies to other PIs. I can't say the same for others because some people like the validation of fellow investors who they perceive to be knowledgeable.

But as has been said, it is your money and your investment. Ultimately it is nobody's business what you do and why but you insist on telling us all anyway.

That is the long and short of it for me.

I reckon a geezer with your career in the City and experience of investing would know what would happen in such a situation RK.

On nail head BNc

Afternoon all

Whilst I'm content to an extent that both partners have settled their differences for the greater good of the development of Cascabel, I'm not convinced this means that SolGold are necessarily ripe for an 'imminent' bid. We're now into June and no offer to JV Cascabel or any of the regionals has been received that the market is aware of.

Consider for example the potential for a bidder to emerge for Cornerstone. That said, Cornerstone have been for sale for the last 3 years and nobody has really batted an eyelid bar Newcrest and their decision to sub-list on the TSX.

Surely we'll see how how attractive they are as an entity in the midst of this news.

As far as I'm concerned the story remains the same. Resource update for the wider Cascabel concession, Porvenir MRE and Cascabel PFS, the first and third potentially rolled together.

Also, and on a bit of a tangent given my infrequent contribution these days, but in the event of a bid with decent premium or a bidding war, lets not forget the contribution of Mather and his staff instead of poking fun at his apparent u-turn/ climbing aboard with company strategy (which lets be honest suits him and DGR immensely). The current board and management team including the 2020 hires appear to be doing a great job but without Mather and his vision we may have been squeezed out of this in 2017/18 when the fundamentals and macro environment were nowhere near as promising. The fact we're at a same price allowing for an expected level of dilution hopefully points to the fact that we have some way to go to be fully valued in a commodities bull market.

You mustn't forget Ortherncopper that he is in a privileged position of being a significant CGP shareholder (and potentially even an insider).

Given that and his position in the industry as a hedge fund manager that makes his behaviour all the more galling.

Personally I have little interest in CGP and I have little interest in what a non-Solg shareholder thinks about SOLG.

I'll form my own views thanks.

Max19 - it is the gold assets being moved to the NewCo. Lithium assets are staying here.

It makes sense in that as shareholders of IRR we often feel that one or the other is rarely accounted for in our valuation.

What we do know is that to move each company forwards along the value curve we'll need to see a continued flow of news. £100m right here right now would seem pretty fair for the Cape Coast lithium but obviously there's plenty of upside through resource expansion and development.

A couple of questions I have.

1. Is Vince going to head up both companies?
2. Is the Gold NewCo going to do a drilling for equity MOU (as presumably the existing one remains under IRR)?
3. Of the £12m recently raised, is any of this being paid to NewCo are is there going to be a separate raise post the demerger?

One thing is for sure that the overall story is going to hot up from here on in.