Member Info for Bozi

Your belief is simply misplaced Affrm.

The SP is here because there's a shortage of buyers for the stock. There's a shortage of buyers because people don't like market conditions or believe there are better plays on a risk for reward basis.

Stop blaming market makers, stop blaming other posters. Stop blaming Scott.

You've got to own your investment decisions and stop blaming others for manipulation and the likes of.

The company is down here because there's a lack of catalysts in the short term and there are still numerous obstacles to climb over in the coming months. The first of those is the AIPA. After that it's the geotech results and tailings. Get to that stage, get tranche 2 of the funding in and we can start looking ahead to the feasibility study and getting the permits applied for.

If you're playing SOLG as a goldie 1984 why didn't you just buy the decent producers a couple of years ago. You'd gave been in clover compared with sitting on all the risk SOLG has.

I'm sure that's what Aviva have told you but in reality it's not just EVs. Insurers write any car off these days that has minimal accident damage. I know someone who got shunted in their ICE and it was about a bag of sands worth of damage. Insurance wanted to write off.

It's pretty funny we've got a bunch of shareholders that despise the main copper use because of political ideology.

You're forgetting to say that if a used EV needs a new battery then the value of the car itself becomes negligible.

Just look at a 10 year old ICE anyway. You're hardly buying something reliable.

I'll show you this post in 12 months time Fort when you've got with the tune.

If you think Franco, Osisko et al are going to deploy $1.5-2bn and wait years for the block cave to be constructed hoping it comes in on budget, then you really have not been paying much attention.

You've got to factor in the cost of copper contracts on the bottom line. That very large cake you talk of is constantly being nibbled at around the edges Fort.

1984 - I don't agree.

You're correct to say the majors always want the scale that Cascabel provides. However, that can't be pursued at all costs, and in the event we don't have a viable open pit, the reality that Cascabel is one massive black hole for investment capital slides into view.

It's not something we want to consider but it has to be kept in the back of our minds.

Gaz - not sure what you mean. I'm under water as of now and I'll take a loss if we get to Dec25 and there hasn't been the progress I want to see.

That's your prerogative Rich3r. I hope you're proved right.

I've changed my own investment thesis in the last 12 months or so, especially post merger. I'll be reassessing at the end of 25, at which point we should be much further down the derisking path. But I've taken the decision to not blindly hold the stock pending a certain outcome, especially as my research leads me to believe that outcome isn't guaranteed.

Admittedly, this is where my own view is different from other long-term bulls.

Rich3r - we've got to be careful about assuming there will be offers and counter-offers.

The IRR based on the spot prices used in the PFS is 24% post tax. We might see that climb to the high 20s if we use sensitivity analysis. However, you've then got to factor in the cost of the remainder of the construction capital and we'll know after the FS how realistic the $1.55bn estimate is.

For me, our future will hinge on the viability of Tandyama Americas. If that can be shown to be a viable open pit then we're off to the races. If it isn't, then we're in a bit of a pickle.

Add - I reckon 1984 will be along shortly to add a million recommends to your post.

For what it's worth I don't think we're too far from the inflection point now. I would hazard a guess that sentiment will flip as SOLG moves onto phase 2. The bottom will be in and the discount that exists will gradually start to close.

I'm making it pretty fine, Fort.

Bob talked about his bat and swinging it "fast and smart" yet here we are. Bob said we aren't developers, yet here we are developing.

I'm not the one putting stock in the mutterings of a banker who has had to row back on everything he has said publicly to date.

Have another look at the mental gymnastics on this one.

Middelkoop is a prime example. He has been talking his book for years and here we still are.

So, why do you feel it necessary to turn the conversation back to possible bids, Pad?

The company cannot be clearer about the requirement to derisk and get to turnkey. That is a 12-18 month workstream for which finance has been secured.

As for Fort - it's that time of year that he decides to be a rebellious malcontent. Rock the boat despite it proving absolutely futile in 2023.

Not sure I'm having that Add. Same posters have been relentlessly talking bids regardless of whether there has been any cause for optimism or not.

The point I'm trying to make is that some are so narrow-minded to the company's path and it sets unrealistic expectations, so much so that other posters feel they have to contact the company to voice their concerns.

We're eating ourselves waiting for a takeover that might never come.

Quite right Add.

On a morning we get news certain posters are desperate to turn the conversation back into first bids, etc.

It's not really our concern right now. We need to get this geotech drilling done, get the FS and mine plans completed and get the permit applications submitted.

I'm sure the time will come then for a conversation with interested parties. But that really is 12 months down the line.

Eish - remember what we said yesterday.

The value of the metal in the ground is worth billions but the value of the contract/licences/permits about who gets to mine it is only worth what someone is willing to pay.

It's an important distinction I'm afraid.

That latter value can and will change over time, but for it to appreciate, Scott needs to keep boxing off the syndicate finance deliverables plus the FS. He and the company needs to give confidence that Cascabel can and will be mined.

"I'm beginning to wonder whether this is by design and what Bob wants. I think he wants a reset, and I think he wants old investors in at above 20p to move on and be replaced by new retail investors in at 8p. That way he can present a pont 24p+ deal and they'll all be happy. Mmm."

You're getting there Fort. Better late than never.

That's all well and good Fort but you need to remember that the company has been shrunk from its previous staff base.

If external contractors are needed, they need paying up front, and to do that we need cash.

If you recall, the company couldn't even attend an event in London such were it all hands to the pump on the Franco/Osisko deal.

This was a conscious decision by the new management installed by CGP. Maybe it has saved us from going back to the markets sooner versus had we kept more boots on the ground and the ability to move quickly.

I'm not excusing it - nobody is - but it was on the cards once we went into lay off mode during the SR.

You're probably right Add because it had followed quickly from the failed financing that SOLG attempted under DC.

The financing wasn't a failure at all but we're now tied to the development milestones. If we don't hit them then funding dries up. That's a much higher pressure situation vs the typical junior rinsing the market for new equity.

It was a good outcome and one that thrust us from being in the pennies per share bucket (or compared with the likes of Sirius), back towards something with a pathway

We've got to tread the path to position ourselves for the rewards. That means we're tied to this management and their strategy as I know you know.

Eish - our SP is reflective of the fact that nobody wants to take a chance on our gold (and copper just yet).

I'm afraid to say it but it's exactly right.

You have to park the fact there are millions of ounces of it in the ground, for now, and focus on what SOLG needs to do to get further down the development path.

Minds have been too focused on a takeover. I think Bob (possibly driven by Nick) has simply been guilty of asking majors to pay more than they want to, now at least.

You have to factor in what these metal prices for prolonged periods are going to do for these majors. They're going to make themselves very cash rich within a year or two.

In the meantime, SOLG has to plump itself up like a premium turkey (by progressing to turnkey).

That is why Scott is right and needs to be supported through.

No I don't, Orthern.

The plan was to combine PFS and DFS together to try and reduce the runway of technical studies.

It was overly ambitious and a misstep but it was par for the course when you have a geologist in charge and a number of heavy hitting investors (Irwin and the CGP lot) who wanted the project/company sold at the earliest opportunity.

This was quickly shelved when more experienced management came into the business.

We're here in many senses because the quick exit that many wanted between 2018-2020 just wasn't feasible. Yes, some time has been wasted tracking up blind alleys and now we're paying the price.

It's a bit like the tories telling everyone how things should be done after almost 15 years of ruinous government.

It's funny Fort /BBG.

18 months ago you were telling anyone who'd listen how fantastic Bob was.

I know because it was me who told you to be wary.

Yes, you might not have rated Scott so much, but in your case BBG you need to listen to your man Mather. NM endorses Scott and as you endorse him, so should you.

We all want regional exploration to roll the dice and see if we can make anorher discovery but we had all that with Porvenir and in reality it was a distraction from progress at Cascabel. Major shareholders won't stand for thst again, SOLG trying to behave as a company that can manage multi asset complexity. I'm therefore assuming SOLG have been told to pack it in and concentrate and getting Cascabel to turnkey.

That was the SR. The fact folks complain that it wasn't spelled out for them is hilarious, like they want to see their investment halved again.

Batten down for a steady 12 months here of tailings, geotechnixal drilling, FS and permit applications. If all that doesn't happen by end of 25 then we can talk about the AGM next December.