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And why would the Board of Director's do that and see themselves out of work??
I hope you are right in your thinking. I already lost Frontera Resources this way and its been over 12 months and counting. It seems an easy way to take a company private and not a lot shareholders can do. Lets hope the GCM holding and Bangladesh project potential keep this listed and not private
We all know that, but what do you think are the chances of a new Nomad this month?
It isn't acceptable. That is the point. But you must understand if these are not listed on any stock market, how can you sell them and realise value??
Sorry Jennis but I don't think you are accurate. You will still own shares, in or out of an ISA, but they will be effectively worthless as they are not listed on any stock exchange. If the Nomad issue is as simple as you suggest (you may be right btw) then how come they allowed this vacant period and why not be open to their shareholders like all reputable companies are? If this is delisted, you can kiss goodbye to your ISA
I agree, but still I cannot get my head round why Pol haven't said a single word to us shareholders about what they are doing, if indeed they plan to relist. Hugely irresponsible behaviour to shareholders
I think we all have to be patient. the long term opportunity is absolutely vast with Porvenir and Rio suggesting they are individually both likely to be bigger and better than Alpala. We all want a much healthier share price but the future is most certainly very bright
'the nomad asked for a NED to be appointed'. Is this documented anywhere?
Please respond as this is important
I think it was deemed to be by mutual consent, whatever that means. I am appalled that Polo have not said ANYTHING about this to ease shareholders minds. What I want to know is just how long does it take to appoint a Nomad? I imagine there is protocol to go through akin to due diligence, but how long can this take? Should there be a hand over from exit Nomad? Does the Nomad need to independently visit each investment, in which case we could be looking into next year easily> Some advice or guidance isnt too much to ask, is it???
Allenby Capital still show us as one of their clients:
POLO RESOURCES
NATURAL RESOURCES
Polo Resources Limited (AIM: POL) invests in natural resources globally and across sectors in Asia Pacific. Investment targets in the natural resource sector primarily fit into the category of companies with producing assets and/or reserves and resources that have been verified using internationally recognised reporting standards (such as NI 43-101). Investment targets in the other sectors are confined to businesses and assets with at least the majority of their operations, or early stage companies that intend to have at least the majority of their operations, in Asia Pacific. Well financed, strategically experienced and backed by a core portfolio in the gold, oil and gas, coal, copper, phosphate, iron and vanadium sectors - Polo Resources is well poised to continue its development, to build upon its performance and to make further timely investments in a selection of value-enhancing opportunities across geographical regions.
I am a LTH here and at GCM. I cannot believe they Polo Board has allowed this Nomad fiasco to happen. Mutual consent suggests this was something Polo saw coming and for us to be given a 10 day (approx) period to sweat and worry about whether our investment will be tradable on the stock market or delisted and effectively worthless is TOTALLY unacceptable.
Then new punters can come in and get these shares ridiculously cheap albeit with the gamble obviously. HOW CAN THIS BE ACCEPTABLE???
If they run this down to the last hour or so before the deadline, then I for one will be seriously pee'd off. The least they could do is tell us what they are doing - IF they are seeking to appoint another Nomad before 1st September. Maybe they aren't and this massive discount to NAV is prompting them to take this private. I lost my Frontera investment to a similar scenario. Not again, surely???
We all appreciate that these next 2 months are going to be MASSIVE in determining where the sp is going to be in the short term . I cannot believe that the BofD have not planned out a strategy for press releases and news flows over this critical period, whilst also actually extracting the key data which will underpin their evaluations and RNS releases. I think we have to be a little patient and not get too stressed about webinars and what and why. I just feel we have to trust NM and the team and await the day that the sp sours after hugely positive stock market announcements.
I'm being optimistic I know so don't shout me down. I think it would be very poor if they haven't determined a week by week strategy about what to say to us and when.
G
Who is the next Nomad and when will they be appointed?? Maybe a pertinent question.
We all know that the potential NPV of Alpala is getting to a point where it is effectively quantified with certainty. If someone is to try and place a bid for Solgold as a whole, how can they place realistic values on the other wholly owned lease sites (Pourvenir, etc) where their stages of development are many years away from where Alpala is today? As each of these are in separate subsidiaries, I see it is much more likely that a bid from any of the majors will exclude these under-developed potential resources and more likely than not just be for Alpala itself
Hi Mog999. I hate them and they seem to be getting worse, so I tried your suggestion but got a severe threat warning from Windows Defender which I guess runs in the background. Did you find the same?
Thanks
D4G
I am really excited by reading some posts and think that if Solgold were to build cars, they would capture the local market as there aren't any car manufacturers in Ecuador. This could really take us to the next level. Off to raid my piggy bank and buy a few more. Thanks guys