Member Info for Bozi

Possibly, I wouldn't expect the results through for a few weeks just yet but I might be wrong, the placing RNS did suggest that it might not be too long.

Yep, I've spotted COBR. Been watching since list. The TR1s are intriguing but I'd be keen to see what they're getting involved in and the structure of any deal before getting involved. I can't deny there's an opportunity for those happy to speculate.

Yep. I would have liked in on the placing but I missed that.

You're not the only one buying given we're up nicely today. I was thinking we could have consolidated just below placing price for a bit longer.

The fact we haven't highlights Kavango's prospects.

Good things come to those who wait... and accumulate, Presto.

... another duck.

Quack.

Just following on from Toro's comments (as I think he's in the right ball park). This is the important part of the RNS for me (not rocket science I know):

"specifically authorise the Directors to issue and allot up to a maximum of 15% of the Company's Issued Share Capital (at the time of the Meeting) to be used at the discretion of the Board as consideration to key suppliers for services rendered and/or capital expenditure (e.g. project-related equity) for the period through to the Company's next Annual General Meeting,"

So, this 15% equity headroom is to satisfy 'key' suppliers and/or meet capital expenditure between March and December. It's headroom. Some/ all/ none of it may be issued depending on budgetary requirements. It’s a comfort measure should it be required.

Don’t forget, you have a vote. Use it if you feel strongly but ensure you consider the alternatives before making your decision.

Also worth bearing in mind that the company will issue the equity at the prevailing share price, not at fixed prices as you would see a placing (as there’s no cash consideration being received). It is therefore in the company’s and shareholders best interests to see equity issued at a stronger share price, i.e,

We owe supplier x £100,000 for services rendered. Do we:

Allot them 500,000 shares @20p
Allot them 250,000 shares @40p

Etc etc.

Mike29 raises a fair point. The company came to market and got £5.4m in November and whilst they wanted a more substantial raise to meet the 2019 budget it was completely the wrong time. Personally £5.4m at 20p was enough as we all know the strategy here and for exploration companies with the right mindset in general - to raise as much cash for as much exploration for as little dilution as possible. This is why managerial skin in the game is important.

So who are the key suppliers? Geodrill (Ghana - https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/IRR/13622675.html), whoever is going to do the work in Chad.

Where have we seen drilling companies remunerated with stock before? “Incentivise them and they will look after you” feels like a comment I've heard fairly recently from a connected company.

Then, as Toro says, you can't discount that we'll pick up more licences or strike a joint venture over prospective tenements. If an area is showing the promise IRR are looking for then it's foolish to pass them up. This is about building a mid-tier developer at the end of the day, not about bloating the SP next week or next year for shareholder benefit.

As far as I’m concerned we're in that painful pocket where the SP doesn't show the progress made by the company, thus hamstringing it. There's plenty to look forward to:

Abonko results and further exploration results from Ewoyaa extensions.
Early plans for the next Cape Coast targets.
Chad updates - IP survey.

2019 is set up to be a transformational year for IronRidge and today’s announcement was aligning

Correct N2S.

This is headroom to issue in lieu of cash for non-cash considerations.

You might say this means services that providers are happy to offer for payment in shares.

Huge buying opportunity this morning. Possibly the last significant one in the teens.

SharketMare - I'm really not seeing how the RNS about the new project in the Ivory Coast suggests anything at all.

You could theoretically split IRR into 4 companies:

1. Lithium in Ghana
2. Gold in Chad
3. Cote d'Ivoire ops
4. Australia and Gabon ops

Full steam ahead for no 1. Meaningful progress for no 2. First pass exploration at reasonable cost control for no 3. Care, maintenance and minimal work for no4.

The RNS this week revealing the new ground pegged was simply a case of the co panty picking another card up from the table. They have recently published a progress report from the country and it may be thst they decide to drop one or two areas as the year goes on. Not dissimilar to a game of rummy.

You absolutely have to land grab. Why? Because if you don't others will. Look at SolGold. They announce a very interesting discovery in northern Ecuador and begin to delineate it. Then before they know it BP are back in country along many other majors, all pegging the ground being auctioned. It became a rat race.

It's no different to you selling a stock in your portfolio thst you quite like but it isn't doing much for you and there's a better opportunity out there.

As for dilution, I expect thst to be carefully managed and executed. Hands were forced in November and the company raised £5.4m up during a time where others didn't dare approach the market. Of course further funds will be needed in the future, there's a huge project in Chad to lift the lid on but as the company develops more options should become available. Either way, I don't expect the major shareholders will be happy about anything more than the necessary level of dilution.

To the others who have posted or thought of posting, for me it's as simple as this:

Under 20p it's time to decide whether we support the company to get the job done and create value or do we walk the tightrope that is bucketshop AIM (with the odd exception granted). IronRidge is a genuinely fantastic opportunity for those with the conviction to see this out. I'm sure of that.

Not too sure IRR would be a direct beneficiary of any M&A over those commodities you mention. There's a copper anomaly at Kalaka being worked on but that's about it.

Anyone looking for lithium on a larger scale will find themselves at home here. Failing that there's huge gold potential in an untapped province. There's nothing really like pure exploration with that chance of uncovering something game-changing.

Very nice pot stirring Bottmzup, I must hand it to you.

As a long term holder I am supremely confident about this company achieving the major status it is aiming for.

I've never seen a remotely positive post from you on this forum down the years. Everything has been loaded with negativity. I suspect I know why and your previous post goes some way to confirming it.

Let's talk when WRES are £40m+ mcap richshep.

Struggling to garner much interest st 0.5 despite the never-ending list of positives.

Thechaser - how old are you?

Bulletin board bsttles. Really?

You and Langtro, take yourselves back over to WRES and worry about your own investment. It's your responsibility to report any malicious content posted over there.

Strider4 does not represent the views of SolGold or the incumbents of its message board.

And refrain from trying to bear case SolGold. You know nothing about the company and are showing yourself up. There's a multitude of reasons why SOLG went from £10m to £700m mcap.

It's almost 50% from here Weetsie. In the current climate 30% represents a lot more progress in Ghana or the discovery of a major resource in Chad.

When I weigh it up I'd rather have a CEO with skin in the game and incentives to achieve shareholder value. The opposite of no obligations and withdrawing a fat salary isn't much of a cushion.

2019 is going to be a cracker here.

Hi Jenny

If you're on twitter just search the SOLG hashtag. There's a tweet on there from me yesterday with details on how to join.

Alternatively you can search my handle - @bozi1988

Cheers

Evening

If anyone holding SOLG stock would like an add to the Twitter group there are a few spaces. Look out for something on the #SOLG with details.

Reasons to be excited short, medium and long term. The group is there to connect SOLG investors using that media.

Or 100 times your money, less a bit of necessary dilution.

Don't underestimate what we have here people. When it is gone, it's gone. You can hold shares in the acquirer at considerably less upside.

Bit of patience needed here.

This is an opportunity investors get once in their lifetime investing. This company was widely available under £20m market cap only 4 years ago and the potential is for it to go to £2bn market cap (at the very least). That's 50x your money.

Calm down and let Nick and his team do their work. The company employs 450 people, I'm sure Nick is getting the rest he needs (and I'm sure he thanks you for your concern). His career is about becoming one of the world's great prospectors. He wants the SolGold story to be the next Voiseys Bay.

Enjoy the ride however long it lasts and buy any dips if you're inclined. Let's hope BHP leave us be and support another capital raising next year should it be required.

I cannot stress this enough. Having seen our minority stake at MARL go for a pittance it's absolutely vital this doesn't. The company is unlocking the last country on the Andean copper belt. There won't be any more SolGold's!!!!

Good things come to those who wait.

You're not the only one re fluctuating thoughts...

We all agree that maximising shareholder value is what we all want.

Hi Earthling

I think Nick and the team have a preference for developing some of the epithermal gold targets around Ecuador alongside Alpala.

The exploration of Alpala and Cascabel more generally is still in it's early days relatively and I'm sure this will continue next year, and the year after. The intention being to generate value from the epithermals which can be used to thoroughly drill Cascabel (as opposed to printing more shares and diluting us and him (although he'll get the options we don't)).

I'm not convinced the rinse repeat strategy will play out as you think it will. The real interesting point away from the main game will be the view on La Hueca and Cisne Loha in the south. Jason was bullish recently bit did mention that a couple of the porphry targets are showing sulphide erosion.

The quarterly MD&A filings are good and investors are doing a good job of stripping them down and picking out the really juicy points.

The main point I suppose I'm trying to make is that this company has a real possibility of achieving the major player status it has been seeking for a while. Whilst I think it's more likely than not, I don'e see a takeover as an absolute certainty.

Forgive me as I don't look in here too often at the moment - are we still hearing from our resident roadsweeper?

article released the last few days talking about Anglo American's return to Africa. Whilst it talks more specifically about central and southern Africa it does make reference to iron ore and we know where there is a resource not far away.

https://www.bloomberg.com/news/articles/2018-11-07/anglo-finds-returns-outweigh-risks-as-miner-renews-africa-focus

Seeing as though I've never met you ATG it will have to be the latter. ;-)

I see our seller is back.