Member Info for Bozi

DBW - Agree with you. That tickled me too. An audacious attempt to save face.

I suppose though, if I had to offer them a defence, it would be that they couldn't take the gamble that we could as SOLG shareholders that the company would bottom out.

That's part and parcel of trading illiquid stocks in size.

I'd also caution that we haven't won the battle yet either, there's a couple more bridges to cross, but things look much better now than they did 3-4 months ago.

SharingGuy - agree that was an alarming choice of wording.

Results for last year weren't expected to be materially different from 2021 but I for one was hoping the future outlook would be much better.

I can't imagine those who elected to pay such a premium for the Q4 funding will be too happy either. They'll be close to 50% down on that position today I'd wager.

Lets hope the new and upcoming hires on the sales team can drive this forwards.

If you assume SolGold has c.£50m after the sale of the CGP SolGold shares that aren't ringfenced for Cascabel and the company designated half those funds for a buyback.

At an average buyback price of 20p they're able to buy 125m shares. At 18p it's 137.5m shares.

It's hardly a dent in the c. 3.2bn post merger fully diluted issued share capital.

Not to mention how daft they'd look if they didn't tempt a bid before the remainder of the budget was absorbed by G&A.

Redknight. Please let's not go there.

You've just suggested a buyback...

Why is it?

It means that if we get our takeover shave a couple of pence off the price to reflect 20% more acquisition shares issued to CGP shareholders.

If you felt the shares were undervalued at 15p then you'd want them to pay cash.

I'll now be disappointed if we don't embark on a smallish regional programme anywhere in the coming weeks.

Bm3121uk - just do yourself a favour and don't invest in Mather/DGR companies.

Your hatred for the guy is clearly personal.

We're talking about exploration juniors here. Dilution is part and parcel of the game we play. It certainly shouldn't come as any sort of surprise.

Fort - 48p is just the two bags from 16p. 32p being the first bag and 48p being the second.

I'm also not sure why you think any bidder might be in the slightest bit bothered what Norges average is, or NCMs or BHPs....

These entities no longer control enough shares to control the vote.

No. The board haven't held back news. There's no news ready to release. They've put the company on a track where there's no strategy but to explore a couple of options.

There's nothing illegal going on.

But the company's share price is suppressed following poor management and if they get it sold this year Maxit will come out of this smelling of roses.

I didn't say SM was right. I said I wasn't going to rubbish his claim. Bit of a difference in those statements.

I think it's fair to say there are other motives for having a share price that has softened including the ones you've set out but if SM wants to pass an opinion who are you or I to ridicule him?

I'll give you my opinion. SMs theory is a by-product of what you believe is going on. Neither of you are right or wrong.

Let me put it to you another way 1981.

Who brought Caldwell and Vujcic on board? CGP
Who are CGP heavily involved with? Maxit
Why are Maxit involved when SOLG had engaged Citi? You tell me.

The fact of the matter is that the SP gets walked down from 40p to 12p over 6-8 months. The merger gets announced and any directors and personnel with links to BHP get potted. Cazzubbo, Marshall, O'Kane and Cashman. Maxit gets appointed right at the very bottom.

Dress it up how we like but that's what happened.

I'm not diverting 1981. This is all part of the same argument. You seem to be obsessed with precedents and something happening before to justify it happening again.

I'm trying to put a real time view of SOLG to you with the relevant questions.

So 1981, with that it mind tell me why SOLG won't announce a plan to drill Helipuerto? Surely you'd agree it makes sense to drill test this property with a view to feeding into the strategic review?

We also have $50m for Cascabel and no work streams. So are we saying we're going to sink $80m on G&A and there's nothing suspicious about that at all?

1981 - why does there need to be a precedent for SM to be justified?

How else would you describe the management of SolGold since 1 Apr 2022?

What options do you think SolGold management has to improve the share price by 50-100% from here not including a bid for the company?

Your answers to those questions might assist your thinking.

Mariana Resources hardly went for the big premium many hoped for and their MD took a job with the Sandstorm.

What will be your reason for rubbishing that one, 1981?

Correct Orthern. That's how it works with these guys.

Who's being deliberately thick, 1981?

Noront and Turquoise Hill had Wyloo and Rio Tinto as largest shareholders respectively.

Are you going to be deliberately thick and insult my intelligence by suggesting they weren't influencing those companies to creep into control?

With Noront it's fair to say BHP spotted this and bid Wyloo up. With Turquoise Hill Rio made their paltry offer before the same happened, which was initially rejected by the rest of the TH shareholders.

The point remains. If you don't want to be taken over you do everything in your power to increase the share price. If you do then you put on your Sunday best and that means a bit of short term pain for shareholders.

I certainly won't join you countering that other point. You can guarantee that Maxit will feast off whatever gain is eventually made from the 16p SP when the merger and strategic review was announced. Even if its only 50/100/150%, they'll tell the world they sold SolGold. That's how pretenders like Sangha get their reputations.

DartFrog - it's not just that IMO. SolGold are now well capitalised but they haven't announced any plans at Helipuerto or elsewhere.

Es a change of control outcome from the strategic review is one dimension but if SolGold had any care for the share price they would do some regional drilling, do some PR, etc etc. But they're not.

The investment case for buying SolGold is hope. Hope for a positive outcome from the strategic review. Thst is why the market isn't interested.

1981 - you have completely missed my point. Quite surprising for the high intellectual we have all come to expect.

My point wasn'tthat regional news has impacted the share price. It was that a lack of regional activity and focus has impacted the share price. Investors like to buy companies that have exploration ongoing, work campaigns and other catalysts to share price appreciation. SolGold has none of that right now, regionally at least. Think it through.

I see you have met me half way on the second point and i agree with you about ranges. I never said anywhere that someone was getting SolGold for 17p but where do you start the bidding if the share price is 30-40p and steady? Those lower price points get squeezed and the middle of the range comes into play. Some like Mike Henry at BHP are on record about where they want to be dealing and that's why we've seen the lasf 6 months of action from SOLG that we have.

To answer your question, the good shareholders of this forum will tell you that Noront, Oz Minerals and Turquoise Hill were all bid for from suppressed share prices. All within the last 12 months. How do you like those apples?

No googling involved. I'm getting my Saturday jobs done and watching Andy Murray.

1981 - you clearly think you're quite bright, don't you?

Well it is you that is missing a rather large point.

Plenty of stakeholders in Cascabel have been interested in monetisation or fast-tracked development ever since the scale of the discovery became apparent 5/6 years ago. For example, CGP management made it clear they wanted an exit at a premium and we know how the Ecuadorian government would love the stimulation to their economy that production would bring.

SolGold seems incapable of delivering production this side of 2030. That suits nobody. It also pushes stakeholders towards a change of control to someone who can do what SOLG can't.

Now, consider yourself in a public auction. What tends to happen to the price of the asset before bidding starts? It drops to a level where the first bidder cannot resist the temptation any longer, and away we go.

SolGold management has been different shades of poor at various stages in recent years. But they know that the best chance of getting this sold is to dangle a carrot in front of all interested parties. That carrot is all dry and shrivelled when SolGold sits at 40p.

So,the font of all wisdom, you might want to consider that before you deride it. Otherwise I'll happily take an explanation as to why SolGold has announced zero activity at it's regional assets despite just pocketing c. £30m from Jiangxi and $50m from Osisko for Cascabel when all studies have been postponed?

Spot on SM.