Member Info for mattlilly

"egos like Red making out that he knew everything before they happened."

Show me one post that justifies that remark Eloro.

To repeat. I watch, research and make decisions on SOLG virtually every day. Just recently it was to buy hundreds of thousands more at c9p+ and since then to hold...

To repeat...I have twice doubled our money; in May I sold out all except 200k. Since then I've built us back up to 1.4 million at an average of just over 11p...

Thats active management versus your own benign negkect and then blaming the CEO because you've lost money watching the SP fall...

Given the criticisms you have levelled back over a year, WHY OH WHY didn't you sell months ago...?

I may lighten the load before the AGM, but NOT because of Scott...more likely because of all the dismall jimmies that might collectively tip the balance and vote him out...

Eloro...I might be less dismissive if you answered the rational questions I have asked you.

To vote against Scott you need to have a rational reasoned argument.

You have criticised him but you haven't once stated whaty you would do instead?

My posts may sound arrogant, but only because sometimes I do know what I'm talking about...and I do far more research than you clearly do and I am far more active in managing my shareholding than you are.

I twice sold out entirely at 35/40p and made enough money to buy 2 AMGs and to hold the substantial positions we now hold.

And I DO care that the price should not fall further.

This is a very thin market and if yours and others constant negative sentiment gets through to some holders on here they might just sell out, pushing the SP even lower...

The price was buoyant an hour into trading and after that, 127 trades averaging £1k each pushed it down 8%...

Thats the sort of effect negative sentiment can have in a thin market...

"Fwiw, I don't think any of the big boys are going to vote against the board. They have a lot more patience than we do. "

You said it anon...

And why do you think they have more patience than Eloro, who's just whingeing because of his self imposed losses.

He says Scott should do more and questions the strategy, but his own strategy has demonstrably been benign neglect...

Imagine where we would be if Scott ran the company like that...

You can only be true to yourself if you actually sell the shares as a protest...if enough people vote out the Board your fear of a falling SP could become a self fulfilling prophesy.

Please post here a rational, logical reason for voting against Scott, other than "because the SP isn't going up".

Thats not rational.

Tell us precisely what you think he should do and then we'll compare it with what he is actually doing, such as cutting the cashflow haemorhage by $34 million a year...

So basically you're saying your vote doesn't count so you'll vote against Scott.

I tell you...if I read more and more people saying they will vote against Scott, I'm going toi start selling shares, because I don't want to be holding if you lot cumulatively ditch a CEO who is getting a below market salary and has moved to Ecuador to creat a sale that will make us money.

Because if enough of you prove the catalyst that swings 51% to 49%, watch the share price fall then...

And do you rhink your negative thoughts and constant baseless criticism helps the sentiment on here for the many investors who are patiently waiting for their final payday?

Where is thge evidence that the CEO doesn't care about the SP...?

Please tell me what he could do to get it up, beyond buying 790,000 shares at an average of 11.5p to arrest the fall after Beery Street had hammered the share price.

So please Eloro...based on your consummate Corporate Finance experience and as a mining CEO, share with us precisely what you would have done to get the share price up,.

I bought hundreds of thousandsa at c9p+...

Please stop whingeing just because you've lost a packet through benign neglect having bought higher than this.

So I repeat...tell us precisely what you would have done to arrest the share price slide...

Gold has broken out...

Silver has broken out...

Copper has broken out...

And Junior Miners will break out when US markets open...

GDXJ pre market already well up...

All as predicted on here...SOLG next unless the Board is voted out...

You're right addickt...

He's slashed the monthly Ops spend from Darry'slavish wasteful $2.8 million a month to c$1 million a month...

And that keeps the lights on until PFS3 is complete and a takeover finally arrives...

KapilD have you been on a desert island...or in a COVID bunker...?

"unable to articulate a coherent strategy to shareholders"

It couldn't be more clear...

"we are not a mine builder..."

THE COMPANY IS UP FOR SALE!

Eloro...if we vote out the Board, who is the WE who would find a new CEO...

What proportion of the 3.001 BILLION shares do you own...?

What proportion do us PIs own...?

So it won't be you or me appointing a new CEO/Board...it will be gthe major shareholders, including the very people you want to get rid of but more to the point, BHP, NCM and Jiangxi...

How will that help you.

Your very negative posts and b;aming the Board avoids the obvious point:

YOU bought the shares higher than this

YOU failed to sell those shares at 40p

YOU will vlote agains Scott and the Board and

YOU would have zero influence on who replaces them...

Are you mental Eloro?

Because you missed out at 40p you will vote for 0p...

That is the definition of insanity....

Take repsonisbility for your own failure and you might have gthe chance either:

To salvage 9p+ if you can't stomach anymore, or...

C Make potentially way more than 40p when the takeover happens, i.e vote for Scott

Vote out the Board and all your worst nightmares will happen very quickly...

Right on Bozi!

So in conclusion I say this...be very careful what you wish for...

Turkeys don't vote for Christmas...

I've voted for everyone except Steve.

We may be frustrated but lets be simple about this:

Either SOLG/Cascabel is sold or

We drift forever into oblivion because we cannot raise the funds to develop Cascabel without massive equity diliution, eithe rby issuing more shares or Convertible debt.

Its a simple fact.

Junior Miners are on their backsides because there is no appetite to fund them in the main market, which is North America, i.e. US and Canada.

Ingo as god as confirmed that a few years ago.

There is one possible alternative and that is to take the Lumniex route, which still essentially involves 'borrowing' money against a stream of metal for the life of the mine. It solves the problem but it is the most expensive form of funding the Capex.

So the alternative is to let the company drift on, doing a bit of drilling here and there, having to raise money probably through equity, meaning more dilution, etc...

Nick did a great job in the exploratory phase of Solgold, proving up vast resources, which are highly saleable buty involve block caving.

And if you decide to vote the Board out, are you doing that because you are angry, frustrated, because you are unable to take responsibilities for investing at prices well above this? Thats not the Board's fault. They never promised anything. Even the present Board has only promised a Strategic Review, which was massively necessary because we have a vast and valuable resource that we simply cannot develop ourselves.

Some people got sucked in by greed, FOMO, the hope of riches, multibagging, whatever, but..

We are where we are. The only sensible thing to do is sell the company, which is what Scott and Bob are trying to do, but until somebody makes a bid we wait. And WHEN somebody makes a bid the value will be revealed for the benfit of all of us.

If you vote the Board out now, consider the apternatives:

The company is headless and at the mercy of its shareholders and, with the past animosity of BHP and NCM the outcome can only b e uncertain. In my opinion that is the most stupid decision because the company would fold before our eyes and be sold for peanuts.

So maybe you think a new, different Board could be elected...at what cost (in terms of exit settlements for Scott et al and remuneration of the new Board/Executive...that would certainly impact the $22.9 million that was left at the end of September)

And whta strategy could they follow? Not an indpependent one, because I say again we are too small to fund or develop the resource.

So it would have to be dominated by one or more major players, i.e. BHP and Newmont who would probably divi things up between them leaving us with pennies.

Because lets be clear. If you vote out this Board and a new one gets elected which is more self interested, what is to stop them doing a massive equity issue which only they would be ab le to afford, leaving us massively diluted.

So in conclusion I say this...be very c

Silver is breaking out...at last...gold being pegged but can't be long, just needs to bust through $2008...copper may have already done so...

"I think the market can see how desperate we are...."

Wheres the evidence?

SP trading between 8p and 10p in the 37 days since Berry Street completed their share dump...

Being jogged up and down daily by Autobots between 8.4 and 9.2 on daily volume of c2.8 million (i.e. c£250k) for the last 14 trading days...

The market either hasn't noticed us or has bought all it wants or sold all it wants and is waiting...just waiting...

We are ripe for a spike if something good breaks,,,or a slump if the Board is voted out...

At least you haven't lost your sense of humour Eloro...I really hope this comes good if only fdor you...

And KapilD please stop repeating the trope that we will need cash "in a few months"

Its November

Cash burn is $1m a month

We had $22.9 million at the end of September...you can do the maths...

And we could do a streaming deal, say 0.5% for $50 million if we wanted...

How long before the prospective bidders realise we can tough this out until their nerve breaks or do a streaming deal that will poss them off the way it did BHP and NCM with the FNV deal...

Unless of course everybody on here combines to help unseat the Board...thenwatch the SP fall as we become cannon fodder...

KapilD it may well be that is already part of the Strategic Review. After all the company is already structured to do that.

But we still need someobody to bid an acceptable price, unless you are one of those who would gladly take 15/20p a share....?

Or even 0p in Eloro's case...

Sound post Italian and you're also right addickt...

So what you are saying is that you won't mind if you lose all your money?

What has he not done taht he said he would do. Please insert quotes.

You can't sell the cdompany unless somebody bids.

You can't JV a regional unless somebody proposes a JV.

I repeat...there are 20 companies in the data room.

It may well be that there have been informal bid approaches and/or JV proposals that the Board has turned down. If so, they are confident of getting a better deal.

And Scott specifically stated that he has met BHP to improve relations and by now will have met Newmont because he said he would do that at a recent conference.

If you get rid of Scott, who comes in to replace him? How much does it cost in severance? What happens to the SDP when he sells his 17 million shares? What direcrtly relevant experience will the incomer have of running an explorer like Solgold and more specifically preparing it for a sale? How long is the learning curve for the new person?

Darryl was here for exactly a year and between April 2022 and his departure he presided over £700 million destruction of shareholder value, £600 million of which can be directly attributed to the catastrophic attempted cash raise and its aftermath with two highly competent Directors as collateral damage...

The SP had lost only £45 million under Scott's leadership until Berry Street dumped...and I mean dumped their shares into an illiquid market...otherwise it is reasonable to expect that the SP would still be around 14p...or even higher with gold and copper prices doing better...