Member Info for Bozi

Can you blame PIs chucking in the towel? I can't.

Risk management and preservation of capital are key for PIs at all times and the SOLG SP is weakening all the time.

So yes, as little as you are I like it, £360m is where we are right here right now. Whether that's us in 12 months, a lot depends on the company.

Eloro - maybe there's nothing to say that can protect the share price.

Maybe we've got to accept the fact that we've invested in an asset that becomes fairly marginal in a horrible a macro environment as we have now.

It's case of everyone believing we're sat on a tier 1 because Fort and the likes have rammed it home the last 12/18 months.

In reality there's a lot more nuance.

Sean - don't blame this SP on shareholders who don't drink the kool aid on the daily. Blame it on the management of the company and their advisers.

Some of us were bemoaning this trajectory in the 20s and Scott's decision to mothball everything and just wait is really coming home to roost now.

I'm patiently waiting for the point where Warren sees his ars*. That will be worth viewing.

I don't feel for LTH with higher averages Tillywhiz. This was a pretty comfortable buy and hold for weeks in the 10-12p region before the news landed.

This company acted with credibility before the PSE test launch. The market didn't give it much traction upon the EpiSwitch CiRT launch because it is an application with less public importance (albeit very important in my view).

But if you look at the business, directors were buying all the way down into the 30s, 20s and high teens. They did a premium raise at 20p with Odey and others in 2022 and another solid raise in 2023. The PSE test was clearly signposted in the company news announcements prior to launch and was actually delivered slightly early.

All LTHs had ample opportunity to average down. I bought my first tranches in the 40s about 12 months ago and managed to get down to 18p and I was by no means aggressive with it.

No matter, onwards and hopefully well upwards. GLA.

Eloro - if you listen to Warren's stuff you'll realise he was tipped off about Bre-X rather than sniffing it out himself so to speak.

I think it's an important distinction to make in terms of the point you're making, which Gino adds further credence to.

He has obviously been chosen because he's fairly hard-nosed and is capable of getting things done.

But other than that he's just a proxy for Mather, Sangha and Irwin.

Kicking Scott out solves nothing. It just makes people feel better. It's not the time to think about what we may want as individuals. It's time to vote tactically to benefit the collective.

I wish people in the UK had seen this before the 2019 tory leadership vote because had they we may have avoided the delight that is Boris Johnson.

It makes no sense to get rid of Scott.

If you so desperately want a deal in early 2024 then you need Scott. Vote against Scott now and you're kicking off another 12 month recruitment process, except this time there's no Keith Marshall around to hold the reins.

We shouldn't underestimate how those guys came and went in recent years either by the way, if we're looking for reasons for being 12p and weak. The executives with backgrounds in mining walked away. That is an indication of much bigger issues at hand than we've given credit for.

As I said earlier in the week, it's all on Bob.

You can still trade Eloro.

SOLG would have been a cracking short the day the PFS come out. Almost sweat free 18 months apart from that little bounce to 22p.

I thought you were the deramper crew, Add?

I'm getting confused.

The issue with that Fort is that if PIs like yourself are acknowledging that fact then you can be surely any party negotiating will also use it to their advantage.

Rich3r - I certainly don't mind people being positive about SolGold. I wish I could share it. But there's blind, disingenuous positivity and there's real positivity.

I have to separate the wheat from the chaff so to speak.

As much as I hate to say it (as I don't want it to sound like a brag) but SOLG and the other two stocks I mentioned show my moral compass. The two companies I'm positive about fly and the one I struggle with sinks lower.

In terms of what SOLG can do, I don't really know any more. My overriding feeling is the story has just gone flat. The company backed themselves into a corner when they went on a harsh rationalisation. Did they go too far? Possibly. I think there's certainly an argument to be made for having a shorter cash runway and a roll of the dice at Helipuerto for example.

As it happens, we've a huge deposit in Alpala and a decent one in Porvenir but nobody really cares. We're left reaching out to Bob and Warren for soundbites. The company's own attempt at some PR gets laughed out of town.

I still hold because I think it'll come good but bloody hell I'm going to point out just how painful they've made it in the meantime.

But Fort, the point is that what you say is contingent on an offer being made for SolGold.

If one doesn't materialise by say 31 March 2024,how will your views evolve?

As for my investments, going swimmingly thanks. You said I knew how to pick them when EEE was 1.8p and OBD was 12p. 4.3p and 28p now having hit recent highs of 5.4p and 39.9p.

Lemme know if you want any tips. 😉

Fort - you keep on telling people that all is sweet as a nut yet the market keeps disagreeing, day after day, week after week.

Maybe you should reconsider who is weird.

Not at all, Add. It's your field and it's good to be able to get a trusted view of how the process would work.

My assumption was simply based on how the two firms were viewed prior to the news of the merger and SR. Citi were considered in the box seat and Maxit were the plucky backbenchers who had helped with the Newcrest proposal and since had connections with CGP following the whole share swap charade involving Warren (and possibly Bob too).

I do think attitudes have changed a little bit and Maxit have engineered themselves to the fore. They probably deserve credit for that and maybe I'm not giving it them.

Your overall point is correct though. It doesn't really matter as long as they deliver.

I thought it a good conversation worth having - thanks for not completely dismmising me, and thanks to SM for the article he shared. It's just something a little different in a time where some are tired of samey discussions.

Eloro - Maxit are leading the strategic review via Bob and Dan so I'd say they are very much the firm in the frame.

They also arranged the last royalty with Osisko.

I don't know the day-to-day workings at the business but I'd assume that with this arrangement and the data room in operation that there is much less for Citi to advise on, particularly compared with before the merger or before the Franco royalty.

The next financials will tell us what they've done for the business in the last 12 months.

21p paid. Well done to all particularly those who kept the faith .

Long way to go yet.

Appreciate that Add. However, I have more than a slight suspicion that if I'd offered you the choice between Citi and Maxit acting for us prior to any knowledge of the merger and SR that you wouldn't be so in favour of the latter.

Not everyone sets up their own shop. Plenty go on to become partners and senior partners of the big boys, and they stand to do just as well as the go it alone-rs.

As with any sector and industry, there are sometimes benefits of sticking with the renowned names and the trodden path. For me, a boutique firm holding the reins on what we hoped would be well in excess of a billion pound plus transaction leaves me with a bit of trepidation.

SM - I wasn't criticising Bob. I asked the other contributors to this forum whether anyone was aware of the specific projects he had worked on prior to being enlisted by Scott and the BoD.

I wasn't aware of the AFR piece and am not subscribed and wasn't aware of it being posted previously.

That piece does add some colour in terms of how the relationship with Osisko has flourished and it's intriguing to know he was involved in the Noront deal.

It does give me more comfort than I had but I'd still prefer the big boys (Citi) to have at least one hand on the wheel.

Tough questions, please Tesla1? Nah, I don't know what you mean.

Sunshine and roses here.

Warren is briefing PIs. Scott is playing a blinder keeping the price low. All points to a conclusion in the coming weeks of course.

Well worth checking the website out. Great updates to it - very clean.

https://vimeo.com/867774633#share