Member Info for Bozi

Many thanks Mog. Easy to forget the scale of the beast we have sometimes.

You're missing the nuance Monte.

It's possible to be negative and hold shares. Some of us are no doubt holding them out of sheer pig-headedness for fear of selling them and being wrong.

I don't think it's so much that the company is in trouble now. I don't believe that's the case, but can it be trouble in 3 months time if Bob hasn't attracted a deal that Mather considers attractive enough? Absolutely it is.

What happens if no offer materialises by say 30 June?

1.) Do they let the strategic review slide on into H2?
2) Do they call time on the strategic review, tell us we're going to push on with developing Cascabel as it's the best thing to do and refill any jobs as necessary?

That's the point I'm trying to make here. I don't see treasury as being a problem right now. We cashed up at the turn of the year and cash burn should be lower than was typically the case. However, I do think there's a largish corporate snag up ahead if Bob and Dan can't put a proposal on the table that enough shareholders will agree with.

Maybe the doomsayers are still invested because they're clinging on to the hope pushed out by those who are positive?

The only people who find the current situation acceptable are those who strongly believe that a corporate transaction is looming into view.

Personally, I'd like to believe that's true but I'm not confident at all.

As for telling people not to post their negativity, that's a slippy and dangerous slope. Both sides of the argument should be posted as both clearly exist with SolGold right now.

It's easy to turn the confident tones on their head and say "how will you feel if a deal doesn't come off and SolGold ends up in no-man's land?" influencing people to hold is treacherous but I suppose the message becomes "well you were a fool for listening..."

Everyone has to make their own decision and own their own decision. I don't think it's quite as clear cut as some think, but there's a viable reason why I might be wrong and someone else right.

Possibly CovGaz. There's only so many times a takeover can be pumped to the market. Eventually it stops believing.

If it hasn't happened by the end of Q2 then we'll have 12 months from that point. CGPs shares in SOLG won't be worth toffee if we get to H1 2024 and the company needs further funds. Nobody will pay a fair price for them given the distinct lack of operational activity.

Not quite Hail Mary territory yet but it's time for Bob to be smart if nothing else.

Interesting few weeks upcoming for OBD.

Shares have settled back at 15p which you could argue represents a bit of value if things play out as they might over the next 6 months.

The Episwitch CiRT is gaining traction according to the recent update and further uptake would push the company towards being cash flow positive.

In the meantime with the prostate test there is an ASCO conference in early June and an ESMO meeting in September. They look perfect opportunities to talk this test up to the world.

Board and management have supported by buying stock at this level and higher, so it all bodes well if they can get their ducks aligned.

Pauly - all junior resource stocks are the same. They have to make a geological case to the market until the drill core confirms the presence of minerals or metals in economic quantities.

For every company with an economic discovery there's about 50 KAVs.

All we can do as investors is try and apportion our funds at the right time to the companies with the most prospective projects and hope they come through.

They could tell us all 3 projects are barren and we can stop wasting our time, but it means losing the rest of your money with it?

That all sounds fine with me Add but I'm pretty sure they won't do it.

IMO, for everyone to get a 50p special div on Cascabel, ENSA would have to sell for at least £2bn.

Besides, how do you feel this ENSA sale option sits with the current skeleton company structure and mass reduction of headcount by caldwell?

Good luck with THG. One I've had a couple of dabbles with in recent months but completely missed the recent updates.

Will they really do that with a prospective regional portfolio to fund? Unlikely IMO.

It also doesn't give optionholders much scope to exercise given where the SOLG SP would be ex-div.

So, I'm not sure it would satisfy everyone. It would give everyone a little kicker but everyone would be well underwater on their stock.

So with a sale of ENSA you're relying on the market valuing SolGold at the consideration amount.

I'm not sure this option gives us the exit point you think it might. The stock would spike and stale bulls would fight each other for the exit.

It also does nothing to help our Cornerstone investors now holding SOLG in size.

Fort - there are many reasons to think that a take out price might be 35-40p and the pricing of the Stackhouse options is further evidence to support it.

Ask yourself why those options weren't priced at a fair price based on the SP during the last 12 months? Say 30p? Because it significantly eats into his earning potential on those options.

Conversely, do you think these options mean a quick 4/5/6 bag for Stackhouse were the company taken out at 100-140p? Doesn't feel likely does it.

There's nothing stopping SOLG price the Stackhouse options at 30p by the way. It might encourage him to buy some down here on the open market, but that's not the ideal way is it... best to have no risk.

Add - correct me by all means but the usual modus operandi is for the target company to be acquired rather than the licences.

Your suggestion also relies on the market sufficiently re-rating SOLG plc stock to reflect a purchase of the asset. I'm not convinced that would happen. There have been numerous examples in the past where companies have traded below cash for example and I would speculate the same would happen with SOLG if Cascabel was sold.

By granting options in the plc, everyone gets their win if we get the news we hope for. Everyone can sell their stock to an acquirer of the plc and exercise those options before moving onto a completely new she'll company where, you guessed it, everything starts again.

Your point around the accumulated losses is a fair one mind.

DM - personally I think you're right to be concerned. I share it. It's the basis for my unease around the position CGP officials and Maxit have worked for themselves.

Bob's "fast and smart" comment was clever. Fast has one meaning but smart has many.

It also points potentially to the solution I floated a few weeks ago, being the spin out of the regionals and sale of SOLG. Agree that a flat firesale of the job lot would be disappointing because even for those worried about a market crash, management could work a situation where Cascabel(SOLG) is sold for a return many will be happy with and the regionals can sit in an unlisted corp until such a time that the market picks up and people want to reinvest some SOLG profits.

Agree Add re 20:28 last night.

These options are to bring Mr Stackhouse into line with what others at his level can expect if Bob and Dan do their jobs.

A strike price of 30/35/40 doesn't work because that's the likely sort of level that the exit will be at. This pricing gives him a 100% kicker on top of his basic.

I mean if you'd said that in the first place Fulmar I wouldn't have questioned it.

Quite different to your initial explanation.

S_H

Dont disagree. Those investors will get in if/when the drill bit starts to show us good copper.

You've got the likes of Mr Middelkoop with his Discovery Fund and one or two other mining specialists at that sort of level.

Anyone holding Arc now can look forward to a decent rerate when those investors move in.

"... forced selling due to a broker moving to a new custodian..."

Has anyone ever heard such codswallop?

Oh, I know. Yes Mr Customer has to sell all his stock straight away and he has a weighty ARCM holding that's going to suppress the market on a transformational news day.

Come on please...

Virtually every broker on the planet trades London and AIM with that. ARCM is an AIM stock and every custodian can hold AIM stocks held through a depositary such as CREST. There's nothing complicated whatsoever that forces a sale. No corporate action.

Yesterday was a sell the news day IMO. Traders in at high 2s and low 3s crystallising their gains with a view to coming back in a few weeks when Anglo and Arc finalise their plans.

Better to just admit that and find peace with the movements of the market.

Nothing like the next SOLG CleverThoughts. The drilling results have proved pretty average in the main to date.

It's going to take a significant discovery to really excite the market.

Needalife - Zambia.

Not the Conservative and Unionist Party you knew eh Anna.

Tax is tax. One of the certainties of life. I don't get why those who are intelligent and aspirational are so against making a contribution to the public purse.

We'll, I do, but it's extremely petty and insecure.

Where Cascabel is involved the operator will just have to pay tax in line with the regime at the point that mining takes place. They'll have to be nimble and negotiate concessions in return for contributions to communities in other ways. That's how the world should work, a bit of give and take and fair payment for what is taken.

Or they could choose a right leaning leader and suffer continued duplicitous corruption on a grand scale, at least if a country like good ol Blighty is anything to go by.

The bottom line being that whoever is in power in any country in the world needs to see public office for what it is and do the best job the can for as many as they can.

For Ecuador, that means permitting Cascabel and enjoying the tax take that will eventually kick into gear.

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