Member Info for KB007

IRR

You are bang on everlong!

This isn’t the BHP show just yet.

"Sorry Andrew, I'll get back to you. Have meeting with Sandeep!"

Agree jester16!

Newcrest saw the potential early on and have apponted their best people to assist SOLG over the past few years.

Loyalty will be rewarded and I shall say it again as I did intitally on the Newcrest deal amongst other times.

Newcrest wants this to go to production! Period!

Nick's talk has changed over the past 18 months to state that it is going to production.

Newcrest will not let this go without a fight.

I will also say again that with Nick aligned with Newcrest gives him around 41% control

From my understanding of the earn in agreement with Cornerstone, and correct me if I am wrong, is that Cornerstone cannot sell the 15% ENSA rights as SOLG have preemptive rights for that part of the agreement. There is no way that SOLG will let that go as they can obtain it for as little as $3.5m
Additionally, as per the earn in agreement, SOLG have to be notified of any interest or party involved in the purchase of Cornerstone's 10%.
Furthermore, prior to any sale, Cornerstone have to reimburse SOLG their share of the drilling costs as SOLG took ownership of all the costs and again factored this in to the earn in agreement.
Pre-emptive rights! Smart move Nick!

Solgold has first refusal for Cornerstone shares.

It is part of the earn in agreement!

Solgold hold pre-emptive rights over any disposal by CGP amongst other tie ins

Newcrest gave an undertaking to support the BOD in respect of any change of control.

They have anti dilution and top up rights.

On this basis, with Newcrest supporting the BOD, Nick and his affiliated team have a holiding of over 41%

Should they also enforce the earn in agreement with Cornerstone then that percentage increases

This isn't going to be an easy play for either BHP or Newcrest.

Currently Nick holds all the cards. The vast majority of the board of directors are allied to him; they play major roles in his other companies. Coupled with the fact that Nick has affiliations with Tenstar and DGR Golbal who also own a major piece of SOLgold. Althoug I cannot find the relevant information I believe that there are also family trusts and minor affiliations to Nick that own lower percentages.

A hostile takeover is not on the cards IMHO.

Being a long term holder I have a massive amount of faith that Nick will stay true to his statement in ensuring that we (the shareholders) get the biggest bang for our buck.

Stay strong people

@ earthling!

What did he mean then?

What is the key message you would like to tell your investors?

Our key message is that the success that we’ve enjoyed over the last year in going from three p to the high of 47 p will be replicated by the discovery of more of these very large porphyry copper gold systems all through Ecuador.

Ecuador hasn’t been really properly explored at all. While they found lots of these things in Chile, there’s been no work done really at all on Ecuador, and we’re in the box seat having started this process four years ago to be the lead explorer, and discoverer of these ore bodies in Ecuador.

BHP bought in because they know the value hence no bid submitted.

6% of something big is better than 0%

Nick's words today about not being overly concerned about BHP says it all.

BHP may accumulate further shares but I do not believe for one minute that any, if any, takeover approach occurs it will be for the porported and spurious figures banded about today.

IMO having BHP on board is further plus in ensuring the porject gets taken to production.

If Nick is going to sell then I won't be one to complain providing he lets it go for the fifteenfold increase in price he has stated previously.

No sale,

No JV,

No bidding war!

Hand on Heart I'm here till production. It's not going any other way folks.

Newcrest won't allow it for one!

I will happily accept all apologies when that time comes

We're not unique. We're quite volatile as individuals, but that doesn't work exponentially when we are together. Relationships are about eating humble pie. Guy Ritchie!

Think I should elabortae on the stated high development costs earthling made.

It should have been followed up with that these will be offset with the high production rates and low operating costs.

Which means over the longer term it results in a lower cost per ton of ore extracted.

40p ..... Guffaw!

84p March 2020
120p March 2021
156p March 2022
320p March 2023
600p March 2024

Thanks DG.

I invested in a JISA for my 12 year old as well.

His profit is good as I got him 100k at 6p

The timing was good as the government stopped the child trust fund and I switched it to a JISA.

https://www.fool.co.uk/investing/2017/02/28/why-long-term-investing-is-more-profitable-than-short-term-trading/

https://www.fool.com/investing/general/2014/12/14/warren-buffett-tells-you-the-difference-between-st.aspx

Your so funny @ludeck.

This is my 1000th post so as Pad says I should make it a cracker.

I, like may others, invested in SOLG from an early stage. I initially invested at 8p then sold at 17p before it slid all the way down to 1.5p.

I watched for a while and bought back in at 3p.

Now the first tranch I bought at 3p cost me 6k, had I sold at 25p, result £50k

However, if I were to buy back in now I would have to pay 50k for what I originally paid £6k.

I have a total holding, personal, SIPP, ISA, of 1.78m at an average of 21.3p

Had I not bought in large on a personal level at 42p then I would be overjoyed. My average for my SIPP and ISA is 8p.

However, I have posted before that it is financially better to invest long term than to trade.

I am an investor, not a trader, and SOLG is not my only long term hold.

I took the same approach with Dragon Oil and nothing is going to have me part with my holding in SOLG until it has reached its potential.

That is to make me, and others, a multi-millionaire

Its coming, of that I have no doubt.

Long time ago that Pad!

Before the realisation kicked in of the true potential