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What I would say though is that most wanted Mather to stop doing presentation because he was practically sending the audience to sleep. Not all management are good at being 'punter facing' (that includes Truss, she looks as weak as that Rees mog p rat). Darryl has had over 12 months now I believe and he's unfortunately about charismatic as Mather was when it comes to presentations. That doesn't help. Nor does the fact that the company/presentation haven't really progressed at all since DARRYL took over. There's a bit more detail, some nice shiny rock samples but apart from that... the company lost all it's catalysts and excitement the moment it decide it would try and take on a Tier1 project through to production.

Next cab off the rank?? You gotta be joking?? Most people will have found alternative transport by the time SOLG's cabs are ever ready. Furthermore, all that crime acreage will be forced into relinquishment if they don't get some deal done with 'interested parties'. There's been a lot of talk and nothing delivered on that front and that's poor. They could have farmed out some grass root opportunities last year and had some of those drilled this year albeit with a lower % interest. Better than handing them back for free.

Erm nope... we all wanted Mather in. It was BHP and NCM that wanted Mather out. Mather is still on the BoD's BECAUSE pi's wanted him there.

addicknt, the clock is ticking and just over 4/5 weeks left before the AGM resolutions need to be put forward and shareholder informed. It will be November in a flash and AGM in DEC. October always flies by. Must be a daylight thing!

We are as they say finally arriving at the sharp end that we've waited for so long. Some might say we are in a shabby state. Others might point to the fact that we are approaching a very robust and likely uplift in the PFS which is a defining moment in the companies history.

Plenty of ways to loo at it positively and negatively but one thing that is impossible to ignore right now is the markets in general and the plonkers that are running the government. The latter seem on a mission to line as many rich folks pockets before the next election as they know they are OUT then. You'd think after they lined all their covid related from buddies pockets, it would have been enough... but oh no... they want more!! Lets just give away $50m to some ferries firms that we have no intention of using? It's just a contingency!!

"we do not currently have multiple options for financing"

I'm not sure I would arrive at that conclusion? But in theory they did a site visit for Boliden .... then it would make sense to do a site visit for II's too. Otherwise that's not being very balanced is it?? Also, 'analysts' are included so that acts as nice bit of PR too which one would hope wakes up this market to the full potential of Alpala. Interestingly, the presentation has DFS finance starting in Q4 2022 so that would suggest that they might be looking at getting the main catalysts out there in Porvenir PEA and PFS2 and then doing full DFS raise which would act as a full 12month finance package.

All this has to happen before AGM imho but likely (as I hinted before) that it might require a vote at AGM if strategic partner brought in.

Nonsense, the share price is just a tool for which the market gets trades away. Supply and demand normally dictates it. But it's the monetisation of assets that forces share prices to become more 'valuation tools'.

Look at Oz Minerals... trading near $17 shareholders unhappy ... was that poor management Bozi?? Then offer comes at $25. Then looks like final offer might be $30.

So at what point did that poor management change?? Or was it the share price that changed? Mmm

Share prices often do their own thing unrelated to the company. It's when you get M&A that the share price is forced to do what it was many moon ago designed to do before the spivs turned the markets into a casino.

Lunchmoney,

There was a time when SOLG's share price used to jump on great exploration drill news. Porvenir hole 1 stills commands the largest rise to date (got up to 43.5p level). But as with all news events... over time they deflate. Get forgotten about. Become a thing of the past. There was a time when an AIM listed stock would be drilling a wildcat and almost 50% of success was priced in before the TD lol! Remember those days? I don't there's much SOLG can RNS that will maintain a solid floor under the sp in these markets. Many (moi included) thought the PFS would put a floor under the 30p level.

The market of the old days would have had POG priced at $6000oz during covid woes. But the Fed Reserve have a mission to support the US dollar by whatever means necessary. And that meant fiddling the Gold market... pushing ii's into crypto's for some fun.

We have a world that knows it needs copper but for some reason doesn't seem bothered that there is a shortage looming? That's a puzzle isn't it? You could say the same about energy crisis. The Fed knew there would be an energy crisis without Putin's issues thrown in. Why? Because Shale production stopped and development stopped when PoO dropped to $10pb. Investment stopped. Getting back to full production takes time and money. No wonder oil and gas prices are high. Throw in Putin's crazy war and you have major energy crisis. He knew what he was doing and he knew the time was right.

I guess in summary... we all know what's logically but the world and politics doesn't follow the same logic... it lags behind and then 'reacts'. There is no proactive activity anymore. No forward thinking. Just good old ambulance style chasing and it gets dealt with in a way that lines certain peoples pockets. A crisis is an opportunity to make money for some and make many others poor. It's pointless trying to make sense of it. You never will.

Through all the last few years of crisis events, the US dollar always seems to stay firm. Amazing that! That costs a lot of money to sustain and the chickens will be coming home to roost for Biden and the fed. You can't print trillions of confetti dollars and expect the world to price them the same.

"enormous impact on market confidence"??

addicknt, where did you get that from?

Is that you extrapolating due to low share price? The share price is low as market sentiment seems low. Why do you think NCM are near sp lows. Many others too. Putting that aside, SOLG's liquidity (stock) has been poor for months if not years now. Volumes only really increase (as does the share price) when you have II's like Norges or Blackrock buying. The recent RNS on funding talks has without a doubt put a hold to any buying by Norges or Blackrock et al. Why would they if they have been told funds are required. They will just sit on hands and await the fund news and then either take up offer or if royalty deal, they will then recommence buying again assuming that's their plan.

SOLG could be pumping out great RNS's and the Board could be holding hands and dancing around the table but I'm afraid if the market thinks you need cash it's going to discount your share price. That's how it works.

Nothing to do with 'confidence'. The asset is rock solid. Copper demand rock solid. Ecuador politics rock solid. Everything is fine... apart from the funding and the market is taking a gamble and saying.... we think you'll need to raise via equity issue and we'll discount you accordingly. End of.

Less drama... more reality.

If you remember, SOLG was 17p levels back in 2019 (11th October 2019)well before Covid broke and delivered the 'end of the world' low at 12p levels.

We've been here before and we always seem to be hitting the 40p levels months after. That's SOLG for you.

I'm quite chilled as am here for the end game and doesn't matter whether sp is 17p or 34p right now... the takeover offer is likely to be the same simply because Mather et al won't be selling unless a certain number is hit.

Finally, look at the volumes on the share price fall from 21p to 17p. It's not even £100k in cash being spent most of the time. It could be beer money pi's turning stuff over and even they would break 1m share traded between a handful of them. It's pony volume and the share price should not be suddenly transformed into 'enormous impact' or 'we're doomed' or 'SOLG towers in crisis'. Look at the BIG money. It's going no where. What does that tell you????

addicknt

I'm not sure I understand your post? I know the sentiment but in theory the first part of your post is what you should be focussed on. The second part is just the product of a maturing company which is moving from explorer to a developer phase. Combine this with the usual pre bid tussle and quandary over how to get the piggy to market or over the line and that's basically why you have all this stuff. Darryl might not be cutting it at CEO level or on the PR but his CV outclasses the majority of the SOLG Board and past board members with exception to Mather. His credentials are the reason he's there. He's there to reassure potential funders / investment partners of the $3bln required that the project is doable and has been strongly tested. He's dealt with tier 1 projects. Majority of SOLG board have never been close to a tier 1 project.

You seem preoccupied with the minor stuff. That said, the CFO departure is not minor but that's perhaps the most telling of all the recent departures. What if she was brought in to get an IPO away but then that plan got canned by xy and z? Suddenly her expertise not required? Many reasons are not all have to be about turmoil. Many might be positive and you'll find out soon.

As for the share price.... how low can it go?? Markets are markets... they make no sense most of the time. I think the better question is... how LONG can the share price be kept low?? My guess is not long. Why? Because the company has major news coming up with Porvenir PEA and PFS2. The last time SOLG went into a PFS RNS, the sp was 40p and 36p on the day of the RNS. The PFS2 is expected to be better than the first PFS. So logic says the market will repeat itself?? Why wouldn't it? Nothings changed. And before someone says the market backdrop is poor now... well, just look at the FTSE100 benchmark. It's actually up (yes UP) on a year to year basis. Doom and gloom? You wouldn't know it looking at the main market index.

Did tiswas mention GGP as well or just SOLG?

red knight - the volumes pony. BHP, NCM, Norges, Blackrock et al are not selling. It's just pi's getting squeezed and rightfully depressed. It's not pretty out there but getting close to bottom now imho. Inflation figures will turn post October. Rate rises will be smaller and the market will look ahead.

And the best bit... while everyone is feeling the pinch and the government are doing energy bail outs to businesses and tax payers... Truss's government think it's a good time to lift the cap on bankers bonuses!!!?? You couldn't make it up!

So the tax payer bails the bankers out in 2008/2009. The bankers then don't pay the tax payer back at all and return to sizeable bonuses but better managed. And now, just as we head into a recession... it's time to fill the bankers pockets again?

Someone tell me what the xxck is going on as surely someone is talking the pi55?? The tories have lost the plot!

Lunchmoney, as per usual, your attention to detail much appreciated.

I expect they'll include Tandy in the mix as apart from Porvenir, that was the only exploration going on that I can see in 2022. We certainly didn't get what we were promised and that's not the first time that's happened by SOLG. I thought the Moran RNS some moons ago was written in a more excitable form. Yet here we are months on and zero updates on Moran. Mmm... another promising hole that turned out to be not so promising??

The reality is, SOLG can deliver value with the drill bit. We have had Porvenir and Tandy of late and frustrating we couldn't see RIO through properly. The Warintza target is a tease and would certainly delight Lundin, Solaris et al. if that came in. It makes sense to drill that area first before entering a decent JV partner deal as would strengthen their hand considerably.

10 days left in Sept and we have MD&A and Annual report. Coming to a head now.

Agreed Lunchmoney, but I did include working capital in there. It's the "a minimum of 40,000 meters of diamond core drilling" which was the main driver for that raise. "Excess cash" is what's left after that or outside of that. Not the entire pot.

I think we had 1 hole on RIO which was 2000m or less. Porvenir might have racked up 20 holes or around 10k. My guess is that about 20% exploration was delivered. 80% undelivered. If they try and imply that Tandy was part of that then I'll vote the lot out at the AGM as that's nonsense.

We all know what was lined up as it's all in the presentations. What Darryl hasn't told us yet (and I'm dying to know) is why exploration got put on hold. No doubt we'll here excuses about permit issues, red tape etc etc covid blah blah blah... but none of that works as an excuse on the basis it was all known when the raise was done and would have factored some of those issues in.

Just imagine if SOLG come to market again and ask for $40m to explore regionals... the market is just going to say .... sod off we don't believe you. By raising $78m and not delivering on the 40km is nothing short of fraud imho. They raised money on the pretence of delivering shareholders a specific amount of exploration activity and delivered next to zero. That's not going to bode well when it comes to the AGM unless they pull a rabbit out of the hat.... which is what I am expecting as without something special (certainly more than PFS2 and Porvenir PEA... I think many are toast. The two Canadian directors ... they can go too.

It's a tricky one as not sure what you would deem as achievements or lack of achievements? Delivering PFS was achieved. I suspect delivering PFS2 and Porvenir PEA will be achieved too. So hard to fault what has been promised and what is delivered on that front.

The failures or shambles (as one can call it) can be pointed firmly at the $78m that was raised last year with the sole purpose of delivering a very exciting exploration plan across several key licence blocks. All those that took that placing, did so on the basis that it was buying some major catalyst opportunities. Share price drivers in addition to the PFS.

What Darryl and team delivered was close to zero exploration. Yet the actively spent the $78m. Remember, the Franco $100m ENSA money was ringfenced for Alpala. SOLG should not be spending the $78m on ENSA. But my guess is, that's exactly what they've done and the annual report will show numbers up to June 30th 2022. So we'll see the split soon.

On the basis that SOLG is foremost an exploration company, and $78m was raised with the sole purpose (plus some working capital) to explore, any failure to deliver on that rests with directors and directly with the CEO.

So as I said before, the BoD's have to tell shareholders where the $78m has gone and why no exploration has been done (outside of Porvenir). They should be voted in or out at the AGM based on the excuses or reasons given imho.

obvious answers herewith

1. Our CFO resigned (frustrated that company being dictated to by BHP/NCM so left)
2. The AFR wrote about our fundraising attempt that we had to pull (it's a media story what do you expect?)
3. Berry St publicly criticised the attempt (sorry, but these guys are no bodies and not worth airplay)
4. Our SP is now around 30% lower since that RNS was published (the sp would be lower regardless of that RNS as always deflates on no news and market woes, but agree clearly aided by those that decided to jump off the train in expectation of a cheap fund raise. They might regret it if fundraise comes in a different form and are left behind after waiting years and year for the end game)

ongoing discussions regarding funding would ensure that they are well and truly stuck in a 'closed period'.

Accounts are to June 30th so nothing in there that is going to surprise much or have much relevance today although the standard 'going concern' statement will have a few bedwetters here reaching for the sudocream.

Major shareholders had differing opinions. We know that. It's not rocket science as that's what happened last time around with Franco deal and cash box. One can only imagine that SOLG tried the same again and BHP/NCM said no... but the question is... what weight do they have? What can then threaten SOLG with? A takeover lol! And before someone says... how do know the stream deal was tried again.... just use common sense and the publicly messaged media spun around the Boliden visit. The latter weren't there for fun.

who knows where it will end up but fortunately absolutely nothing has changed with the billions of resource dollars that are in the ground awaiting extraction.

One the greatest copper/gold discoveries in the last 10 years. And every pundit out there thinks we will have a copper shortage in 4 years time.

Markets are weird places... demand for oil rises vs weaker simply and the cost of a barrel surges.

The market is simply saying... we don't think you can get it out of the ground... wake us up when you have a rock solid plan and finance in place to do it.

I'm never keen on Friday RNS's as normally it's news that needs to be buried - so I don't think you'll get news tomorrow. But news next week very likely imho.

Another indicator worth noting is major shareholders. Normally when SOLG's share price moves as dramatically as 'halving' in value, there is a blackrock holdings rns. All we know based on lack of holdings updates is that Norges and Blackrock are not selling any meaningful shares nor are they buying any.

If you tally up the 'volume' from the 36p slide down to 17p levels today, you'll find it's well short of where it should be. In previous occasions, share price moves (of note) have been backed by stronger than average volume. Look at the totals after SOLG postponed PFS release in 2021 and kicked it into April/May 2022. Many other examples.

Low volume and big spenders with hands tied is why you have a pretty stationary share price. That's about to change.

It's really quite simple... if BHP and NCM don't like the idea of a $100m raise via Franco or Boliden etc then why not put forward an alternative? There's no point in chucking toys out of prams. That helps no one. My guess is that they have no intention of offering an alternative apart from a. cheap equity placing. If that's all they have to offer then it's time for them to accept that whilst a royalty deal is not good for them, it's better for majority of holders than a cheap equity raise and subsequent dilution. One alternative would be for BHP and NCM to come forward with $50m each which could be placed with them at 40p a share. That's cheaper than the 45p BHP first stepped in with some moons ago.

The fact all we hear is BHP/NCM don't want royalty deals tells me all I need to know. These two shareholders are not interested in seeing this company do well. They just want to see the business squeezed into submission.

Well not going happen. From what I hear there will be an 'alternative' presented to shareholders soon and it will require a vote at the upcoming AGM. Of course... voting certain directors in too will be part of the deal. BHP and NCM are likely to find they are not the only 10%+ holders in SOLG. All will be revealed pretty soon as AGM resolutions and all that fanfare will need to be posted out to shareholders at least 30 days before Dec 1st. Big news incoming and yes... the company has told you about it several times. It's called a strategic partner deal.

I could be wrong as things can change when certain phone calls have been had... but I'm confident it's going to play out well here. The only anxiety I can see if from the obvious posters that are sidelined or worried about being left behind when news breaks. The stocks at multi year lows right now. A return to just 27p is a 50% gain. A return to the PFS level of 36p+ is 100% gain. There's more risk on the upside (missing out on the rises) than on the downside. The latter looks well baked in. Could it go lower?? Of course it can but timeframes dictate that events have to happen soon so don't get left behind. Do your own risk assessment and invest only what you can afford to lose. Have a good night all.

I get the feeling that the Aussie miners are all having a little jig around. Bit like Russian roulette but M&A style. One gobbles up another in hope that it becomes harder to be gobbled up itself.

We have an interesting bit of activity going with BHP, Oz minerals, Wyloo, GGP and Fortescue. The latter involved in some form through Wyloo as the 'big daddy'.

Just a feeling that out of all of them, NCM is the lame duck... and easy prey right now. Whoever gets NCM certainly will have in interest in SOLG imho.

Biswas looking weak, NCM looking weak... prime time for M&A.

Now... come on BHP... what are you going to offer Oz Minerals as a knock out offer?