Member Info for mattlilly

Well said addickt...

And the irony is that the people on here who fear oblivion are viting for...

Oblivion...

And a final thought...

Apart from the fact that Scott can still remain as CEO even if he gets booted as a Director...

If you boot the whole Board, who do you think will elect the new Directors...?

BHP, Newmont, Jiangxi.

And what do you think will happen to the SP in the ensuing turmoil..?

And they say turkeys don't vote for Christmas...

I appreciate your constructive reply Aquinaga and believe Mr SOLG is on my mind morning and night.

We are not wealthy but we have oover £120,000 at risk.

I have been accused of ramping but I make no apologies for seeking out the positives, trying to take an objective view and backing posts up with incontrovertible facts.

And I'm sure you recall me hammering the company in the past, e.g.

Berating Mather for over hyping

Slamming Sangha for his utterly unprofessional public statements and

Having secured a one to one with Twigger a couple of years ago, telling him in no uncertain terms that the Corporate Governance was a disgrace.

Etc

But I've also had constructive dialogues with all the PRExecs, Ingo, Ayten, etc.

Onr day I'll tell you the real story of what happened under Darryls disastrous tenure...

Remember it's not 26% against...its 26% of those voting...

So even if they get a 75% turnout that's 35% against....!

Sorry...fat thumbs...14p to 9p....

And if anyone doubts their motivation, Scoott has huge 'skin in the game'...

He gets a base salary of $200k which no plc CEO would get out of bed for.

Ok some might resent his options, but they will be worthless if he doesnt deliver and...as well as owning 17 million shares, he bought more well above the market price to try and stabilise the SP while Berry Street were vindictively trashing it...

Those two exercises precisely explain the current malaise...

Berry Streets hamfisted sale of 40 million shares took the SP from 24p to 9p

Scott had to pay 11.5p for 790,000 when the Offer was 10p...

But surely the biggest motivation is Sangha...he has 153 million shares and has lost £15 MILLION on paper since he was handed the job of selling SOLG.

Mather personally has lost £9 million, but neither they nor the CGP investors have sold a single share.

What does that tell you?

They cant trade in and out to average down like we can.

And finally, if you want a clear message that a takeover is coming, reference Scott's statement of a 'creeping takeover'.

Anyone rocking the boat now is inviting their long running worst nightmare...

That BHP get this for a song...

I have expressed my protest by voting against the Remuneration

We need to vote because BHP, Newmont and Jiangxi can conjure 26% between them.

Any PI not voting or voting against the Board deserves what may befall

Hi Guys

Sadly I cannot agree with Aquinaga because I cannot think what else Scott could have communicated.

The merger process was a shambles led by people no longer with the company, until Scott stepped in.

It took so long and the then staff didn't realise that after Dec 31, it not being completed, a Prospectus had to be produced. So a 2 month max project took 5 months to complete!

Once he got rid of the dead wood, he was able to start cutting out waste and slashing costs. Operational casburn averaged $2.8 million a month...its now down to $1 million.

There has been virtually no drilling because there is no point advancing fringe projects when any or all of the company is up for sale. In any case the three latest updates barely rippled the SP.

And my own view is that Scott is doing a solid job with measured RNSs, which are crystal clear until people try to over interpret them.

One clear indication of progress is today's statement.

"Expected to be released EARLY in the first quarter of 2024".

That changed statement is an indication of Scott's urgency and commitment.

An important point is never to communicate if theres nothing to say.

What else could Scott have said?

Have we all forgotten Nick's last days of overpromising and under delivering...especially the massively delayed PFS...

And what about dumb Darryl...'the next cab off the block.." and then he trashed the SP with a disastrous funding debacle which led to TWO Exec Directors leaving, including the one whose prime role was to finance Cascabel...thwarted...

AFTER the AGM...

The point about a streaming deal is that it would have zero effect on the final bid price, but...

$50m for 1/2% would secure the cashflow for 3/4 years, and...

It would immediately push the SP up through resistance, encouraging both instis and PIs to buy...

And then it's just a matter of waiting as long as it takes for the inevitable bidding...

Hi Jezzoo

If only it was that simple...

I never expect to buy at the bottom...

Or sell at the top...

Except when theres a successful takeover...

But even then I sell for cash before the shares are suspended...

Take the long view...

It just seems so simple to me...

Get past the AGM...

Director buys

Streaming deal

PFS3

If they get that far before the bidding kicks off...

That's better...s/o bought 600k at 7.1p...

PI or closing short...?

Or an even better time to do another streaming deal...though probably after BHP and Newmont have voted....

Steve. You'll be in my prayers mate!

Total respect for retaining your demeanour.

It seems to me this is the ideal time for a prospective bidder...

Not wait for a more viable PFS3...

I dont know what else the company can do to support the price if nobody is buying...

So...a total disconnect between Asset value and SP...

But again I say, look at the pattern of trading...

Massive percentage of trades is Autobots. Very little buying..or selling...

It's easy to conclude that there is a seller...but where is the volume...?

So assuming there is at least one prospective bidder, it's very easy to keep pushing the SP down...and of course PIs lose patience, fear losing the lot etc...

Understandable.

But for those who doubt my conviction, we bought 100k last week at c8p and...

210823 today at 7.07p...unbelievable...

Now holding c1.7 million, I.e. 0.06%...

GLA and Happy Christmas!

Whether you're worried, tired, impatient, frustrated, angry, hopeful, optimistic, positive or whatever...

THE CURRENT SP MASSIVELY UNDERVALUES SOLGOLD!!!!!!

Its absolute rubbish paddy...

Its a UK QUOTED company!

I got the link from II andf voted weeks ago...

When you look at the quality of the asset, Italian...

Then you look at BHP's experience at Noront, I'm quite sure nobody will want to start at a low bid which would inevitably attract several bidders.

So if you're a major I believe you have to start with a credible bid, which I suggest would be no less than 50p.

It has to be a bid that will limit the number of counterbids.

Wyloo thought they had done that by starting at 55c when the SP had been only 12c months earlier. In that case, the Board agreed, probably mainly because Wyloo had over 40% of the shares.

But BHP came in at 75c without any previous bids or apparent share stake at all...and they still didn't get it, because Sangha clearly told Wyloo a bid at 110c would knock BHP out.

I think the people on here who think that SOLG could go for 20 or 30p are airing their worst fears. I suspect the Board will already have knocked back at least one attempt to buy the ex CGP stake because the price was too low.

On Monday 10 October 2016, Solgold announced they had turned down an offer from BHP that would ultimately have led to BHP controlling 70% of Cascabel. The following week they sold 10% of the company to Newcrest.

The shares rose to 18p having been only 3p 4 months previously.

Bob Sangha negoptiated that deal....

In June 2017, NCM paid 40p

In September 2018 BHP paid Guyana Goldfields (Scott...) 27p for a 6% stake and NCM came back 3 months later at 40p for only 1.5% of the shares.

Which shows what can happen when you get two majors seriously interested in Solgold...

Remember that Newcrest in July 2020, when the SP was 23p decided to "exsplore options" for their stake, deciding to hold on, even though the SP had almost doublerd to 42p only three months later.

And they held on as it fell back to 20p...when it bounced to 36p in June 2021... and yoyoed around to hit 40p again in April 2022...

By the time Newmont bid for them in February 2023 the SP had fallen back to 13p...

And neither BHP nor NCM have ever sold any shares, so Solgold must at least still be in BHP's strategic plans.

Of course the Board of Solgold could have no influence on the price either of them accepted now to sell any or all of their shares, but the price paid by the buyer would signal an undoubted statement of intent.

Of course the SOLG Board is concerned at the current SP...they are tajking steps to try and support it, starting with the Directors' Buys.

And I believe we will see more RNSs before the AGM. We haven't seen anything about gold prospects Rio Amarillo, nor Helipuerto or the former CGP JV in Bramaderos with Sunstone Metals.

I believe it is imperative that they complete the "turnkey" PFS3 early in 2024.

That alone will push up the SP and may be the final piece of information for prospective bidders.

And if gold and copper prices resume their march North in the meantime, that cannot harm.

But I don't rule out an anticipatory bid before then...

BHP

RIO

China Shenwa

Glencore

Vale

Southern Copper

Freeport

Fortescue

Newmont

Zijin

Bayan

Anglo

Maaden

Grupo Mexico

Barrick

etc...

But actually...through various vehicles...?

The Chinese State...

Look at that...31 consecutive trades between 7.76 and 7.92, totalling c42,000 shares at an average of c1,400 shares per trade...

And so far truning a profit of c£500...

What is the point...?

Don't tell me theres no manipulation going on...