Member Info for Bozi

Add - in AIM land it's usually 50%+ daily movement but more and more company's have been resisting the pressure.

What are you coming at me for QuadPiece?

I'll have you know that I'm more than tolerable company... on a good day.

Are you sure about that Max?

Try comparing their physical share balance with their notification on 6 December 2022. You'll find they're a couple of million shares light.

That's without factoring in their % of stock on loan which has decreased, possibly reflecting the extra shares issued to CGP shareholders.

I'm in agreement QuadPiece. That is also my reading of their TR1.

A stark reminder to those that like to big these institutions up. They're pretty clueless and hampered by size. They take bad entries and even worse exits.

Well, I'm afraid to say I have skin in the game and that RNS is garbage.

More overpromising and underdelivering from Turney.

"We're going to do some drilling, raise some more funds, look for some JVs and look at new projects."

The fact of the matter is that whilst Ben is a pretty switched on guy and can get to trips with the technical elements of geology and geophysics quite quickly, his management of the company leaves a lot to be desired.

Ideally, the company should have remained as it was - I for one don't buy all of the criticism towards previous management. Ben should have took control of IR and formed the link with shareholders and the market. But as it is he took the top job and brought with it all hishistoric detractors from a decade or two of rubbing people up the wrong way in capital markets.

It's hard to see a way forward for KAV now as far as the SP goes. I'm not confident about GRS and the KCB being a failure was most unwelcome. Time to try and find an exit now I suspect...

Quadpiece - you can adjust the NewCo valuation as you see fit.

Say 60p Cascabel. Same 1:10 NewCo plus 1:1 rights issue but NewCo gets priced at 5p or £30m.

Sellers send it to 3p and we're effectively reset to prior the Alpala discovery.

Good afternoon QuadPiece. Let them head for the door I say.

Using that example of a 15p NewCo at IPO - that company's shares could be sold off to 8-10p by those not wanting to play the regionals. All NewCo has to do is go easy on the newsflow for a month or 6 weeks post IPO.

That slack will then be taken up by new investors who are happier at the price to roll the dice on another Cascabel type story.

You see it all the time with the less exciting IPOs. Private equity backs out and clears the decks for the next group of investors.

The problem with Solgold is that a lot of investors bought the stock to chase a takeover premium. There's more ways to skin a cat in the resource junior game. You just need a commodities bull market and management who knows what it is doing.

Add - if no offer emerges then the spin out will be what they explore next.

Only difference is that it will be about 1 newco for every 10 Solgold. So they can start Newco up with 300m shares at about 10p and then raise a slug of pre IPO funds. Chuck in a rights issue and newco comes to market with 600m shares at 15p and values Porvenir plus the rest at about £100m.

With a coupon of 5% I'm sure they'd get lynched if they used the funds to buy a junior in Ecuador.

Unfortunately.

I see what you did there Add ;-)

Addicknt -i haven't looked in detail at this but i suspect, it is at least in part, down to the writing off of the exploration spend at Cascabel that SolGold had carried Cornerstone on.

It also shows that Cornerstone's other interests are too early stage or insubstantial to carry any real weight on the balance sheet.

Basically, SolGold doing all the heavy lifting for the combined group as we knew all along. This is why we were reluctant to see Irwin and co offered anything too enticing to come on board.

750 traded in the first hour and not a peep from anyone.

Big day today from a trading point of view. Chatter is swirling and the company appears to being given one last chance by investors.

Question is whether we have any stale shareholders backing out at the same time.

Add - if you were responsible at the off taker's office for doing a deal would you have second thoughts if you thought Cascabel or SolGold was about to be acquired by Jiangxi or Mitsui?

I think you'd say "pass me the contract".

GoodGreeff - the prostate cancer test is in addition to their Episwitch Cirt which is a type of biomarker test to predict the likely response to certain cancer treatments that are expensive per patient and often physically taxing for the patient.

OBD are no one trick pony and the prostate cancer diagnostic is just the next in what I expect will be a pipeline of products that are based on genome testing.

If you're medically inclined then worth checking their website out, reading their papers, etc.

Add - I will.

But as soon as merger completes I want company strategy both published and executed in a significant way.

I also want comms with shareholders and the market to be appropriate and of high quality.

Finally I want SolGold to take every opportunity to get back out there, fully explain to the market why they are taking the decisions they are, the upside to the merger, etc.

We've (all) become very polarised in our SOLG opinions insofar as bid vs spin out vs JV vs production. For me, I want it said that if SOLG doesn't deliver in a way the majority are looking for in 2023 then it doesn't lack for effort and application.

Addicknt - a question for you

Do you think the company washing it's dirty linen in public will directly result in more investment in the business in 2023?

If it doesn't then the practice was completely unnecessary.

Better actions are the only real way to show a corner has been turned in performance. Words are empty unless they are backed up by action.

Some were plain in their criticism of the Cazzubbo appointment.
Some were frank in their criticism of the failed fundraise.
Some were honest in their assessment of Mather and his role in the previous offer for Cornerstone.

But for me, I'm only interested in a corporate office bemoaning the non-performance of a previous corporate office when they have delivered themselves.

As DM and Fort quite rightly pointed out, the records of Caldwell, Maxit, Sangha, Chamandy, MacDonald are there for all to see and they are no great shakes.

It's completely acceptable in my view for the jury to be out on these guys.

Let's see when the merger completes if they can offer anything to change my mind.

Very well said at 12:17 Fort.

Well said Dinner Money. I'm coming at it from the same angle.

Add - those who are happy he made it public are our Exiteers in the main. They probably think it's suggestive of an offer or other transaction.

I just found it pretty poor to be swinging for a previous regime while guiding on a timeframe miss of their own.

Wait until the ship has been fully turned and any criticism can be backed up by fundamentally better performance.

Maybe I can turn your question on its head if you will allow? Why does Friday's events lead to greater optimism?

Fort, I do agree with you about the trader mindset and also the mechanics of the current share price.

Hopefully the tide can turn once the merger completes, assuming the company will have some positive news to share and the wider market is conducive to a decent recovery, because it is bloody well needed.