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The more I read the messages below from fellow investors or payers of Solgold mgmt salaries - last year's 42-43p was the best exit price we were ever going to get and we should have sold and invested elsewhere - not nice to write this or read but I believe most would sell out at 42p now - mgmt promise gold or is it fools gold
Why not everyone state which you choose about the future of Solg etc and we can then see who guessed correctly. Anyone not committing themselves will not be allowed to brag afterwards :
1) sale of Cascabel
2) sale of Cascabel to another
3) Sale of all of Solg to Chinese
4) Sale of all Solg to another
5) JV of Cascabel
6) JV of Regionals
7) Nothing for another 12 months and Directors lining their pockets
8) loss of all licenses as Govt Ecuador fed up with Directors of Solg
9) Sale of Regionals
10) Solg going to production by themselves
11) something else not included in 1) to 9) above
I'm going for 3) as Chinese can bid more than anyone else and produce mine cheaper as they have lower labour costs as they will use Chinese labour and next to zero Health and Safety standards
Winners can brag as much as they want
I guess one way or another some big decision will need to be made this year by Solg mgmt.
Ecuadorian govt aren't going to wait forever for the mine to be developed and in production and get their tax dollars from the concession - Solg (whether current owners or a future owner) cannot drag their feet forever. Could we lose the concession?
What I cannot understand is why there is no deadline for the SR ? It is a case of saying the path we want to follow - it not as if they have to supply details of a future buyer, production details etc as the time the future plans are revealed
Typical none committal mgmt we have seen over the years with no respect to deadlines or vision
We shareholders have never been able to 2nd guess what would be included in the next RNS or presentation by the company and in that comment I include SOLG management. This company is just impossible to predict what's going to happen next.
Scotwell to spend 59% of his time in Ecuador and speaks Spanish plus he looks hands on - cost reduction, efficiency and streamlining - he mentioned Nick was sitting nearby him when he made the presentation