Member Info for Bozi

CovGaz - if you're happy with 100% return in 7 years then why have you chosen a copper gold junior operating out of South America?

You could have earned that level of return by taking significantly less risk over the same timeframe.

This is what I mean when I say people don't understand why they bought and won't realise there's a lack of similar options waiting for their money next. This is a stock you should have been looking at 3-5 bags from at a 26p entry.

I'm not Addicknt. I understand his importance in the current situation.

I just won't rate him until he delivers for us, and by delivering I mean 250-300% from here. Not 100-120%.

DBW - it's right to say there's new influence at the company, brought about by the merger with CGP.

What I don't understand though is why you feel were heading in a direction that isn't your own choosing? You've been a long term advocate of a sale or other transaction, and that appears where we're headed?

It's those like myself, Quady and co who are heading in an alternate direction. Those who wanted to see what someone might pay for Cascabel at $6-8/lb cu.

I'm also a bit lost as to why you see this as being overdue. SOLG didn't owe a Cascabel or company sale to anyone at an earlier date. The strategy changed to being about repeating that low cost exploration blueprint across Ecuador from a point some time before Covid-19 and the enforced restrictions.

Maybe a GGP/ALL type earn-in was the way to go early doors. We'd probably be much further on the road to development now.

Mathers - I think you've misunderstood me, but I appreciate your thoughts all the same.

Being on the last couple of laps doesn't really bother me. I'd be happy for more laps to be added if it meant we were all going to do much better. I'm not fatigued per se, but I'm annoyed at the position we now find ourselves in - operations effectively ceased and our fortunes in the hands of CGPs bankers and a fella who was happy to sell his company's stake in SolGold to BHP to let them in, in the first place.

Thanks SM.

I hope your logic re Sangha and Co comes through. I suppose my concerns come from never having warmed to them. We butted heads with them for years on a range of matters and it's probably fair to say I haven't forgotten or forgiven.

I'm willing to give them time but they have to acknowledge that an RNS like today's basically cuts off avenues for value addition. No studies, limited regional drilling prospects, scaled back operations and cash conservation, etc.

We're now in the realms of the boardroom. We now have very little room to manoeuvre in the field and we have to pin our hopes on something remotely reasonable being put together.

... To find that the return is going to be mediocre and best and not worth the hassle.

Addicknt - I'm not necessarily pessimistic.

But what I am is thoroughly cheesed off. Cheesed off at the company and at investors.

I spent a lot of time in the lead up to the 2020 AGM when PIs were talking about voting against Nick warning them against this very position we find ourselves in.

So I'm cheesed off those calls fell on deaf ears and here we are.

I think it's highly suspect to put any faith in the likes of Bob Sangha. What has he done for me and you to earn that trust? Told NCM and BHP to go f*** themselves? Woop. As Orthern I think it was commented earlier, the likes of he and Irwin, who had admittedly played to the crowd much better than Mather ever did (to be expected as a fund manager) has assumed strategic control (via Caldwell) with minimal effort, facilitated by Cazzubbo.

I'm continuing to hold because I'm pig-headed and I've not come all this way to dump down here. But please forgive me for not being a beacon of positivity after wasting almost 10 years investing in a top discovery in a country looking to progress and rid itself of widespread poverty and destitution.

You place far too much faith in them in my honest opinion, Add.

Let's see how valuable it is at the end of the strategic review, Addicknt.

I suspect we won't be the ones that see anything like true value as far as our investments go.

Yes management are partly to blame for their poor handling of the discovery, but investors are not blameless. The calls to sell up started not long after hole 5 at Alpala and have only intensified with each passing month since.

50p Bubble? Be lucky to get 40p.

Utter shambles this is turning out to be. We've gone from meandering along in first gear to firesaling our company at the whim of a minority shareholder (CGP).

And PIs are happy about it. Just goes to show that many don't know what they're doing in these markets.

I take your point 2Luke but don't necessarily agree.

Before, Sangha was trying to sell a stake of a project that everyone wanted an exit from. Now he's trying to manage a strategic review where stakeholders want a whole raft of different outcomes. So, to my my mind, any benefit derived from having full control of the project is easily counteracted by trying to find a solution that works for most.

Fort - more bluffing and bluster from you this morning. Some of us have seen right through your tedious braghard behaviour. For someone who rates his own use of the King's English you don't half make an amusing slip or two.

Quady - in fact, SOLG has. From the 7 October RNS

"Pursuant to the Agreement, SolGold is pursuing a strategic review process with the goal of maximizing value for all shareholders (the "Strategic Review Process"). Accordingly, SolGold has appointed Citigroup Global Markets Inc. ("Citi") and Maxit Capital LP ("Maxit Capital") to act as financial advisors to assist with exploring value creating alternatives for the Combined Group. The Strategic Review Process may include, but shall not be limited to, evaluating and pursuing the following:

· evaluating financing alternatives for the Combined Group;

· a spin-out of assets, other than the Cascabel Project, to all shareholders of the Combined Group;

· the direct or indirect acquisition of an interest in ENSA and/or the Cascabel Project howsoever effected; or

· any other transaction or series of related transactions as may be agreed to between the Parties."

Monte - Sangha couldn't sell 15% of Cascabel so don't hold out too much hope of him selling 100%.

Its funny how Cornerstone have curried favour with so many just for feeding PIs the snippets that get them all excited. The bottom line is they proved themselves unable to manage projects without the government having to get involved.

Price is struggling to hold 18p because nothing is moving as fast as a few think, I suspect.

DBW - I for one hope you're right, but I have slight concerns that whoever is running the rule on us is happy to wait us out.

My ideal scenario would be to try and push on a little longer, driving more value from the portfolio because I simply think that copper is going in one direction in the long term. However, short term market doesn't appear to be in our favour and a lot of PIs are fatigued enough as it is, so sentiment is going to be very hard to shift.

A strategic review culminating in an auction with 2 or 3 frantic bidders sounds fantastic. However, I've got to admit my confidence is taking a hit given how they've not been contested (yet) over Oz.

My main priority is that we get an optimised PFS and the CGP shares placed. A pin or 2 at Helipuerto would be handy too.

DBW - you like to ridicule Quady but at least he has stayed consistent. At least he hasn't offered,

"Would rather (if BHP are to bid) it wasn’t the first bid here …. A bid will come but from who ?" and particularly,

"In the meantime AGM approaching fast and exciting times ahead whichever way this goes …"

The BHP capture of Oz Minerals should be a warning to all SOLG shareholders that no competition is assured and that's if we receive a bid at all.

There's every possibility that it's business as usual after Christmas, if Sangha and Co's bleating amounts to nothing.

Monte it takes however long it takes to thrash out all the options and consider them all. These things don't have fixed timeframes.

You'll have to decide when to rebuy that trade pot you sold yesterday ;>)

Speak for yourself, Addicknt.

I certainly won't pop the corks for Mr Sangha's presence. He failed for years trying to flog CGP (despite supposedly being an uber credible mining banker) and now he wants to do the same with my company.

Delirium returning to the BB it would seem. Not good.

And opportunistic

Forget Newcrest is my view. If they get involved from here it is purely optimistic.

BHP don't have to put up. They only have to be leading the race a stride from the finish line, not from out of the stalls.

ToS1963 - it's all fine and Dandy as long as he practices what he preaches. He has been a sguilty as anyone.