Member Info for mattlilly

You make a very sound point Colonel.

Either "the Board has received an approach which may lead to a bid..." or

"The Board has decided to conduct a strategic review to consider all strategic options, including the possible sale of Cascabel or the company itself..."

Would have the share price screaming higher...

Anyone who is out or short of SOLG shares should be seriously fearful of such an eventuality...

FOMO drives markets...

There you go again with stating opinion as fact Bozi.

"For example, even a small £30m stream is going to cost us 0.5%...."

£30m is now $33m because of the fall in the pound.

The previous FNV deal was $100m for 1% with the option of a further $50m for 0.5%

Why would the terms be any worse...?

I have no doubt that Boliden and Jiangxi would be prepared to offer a deal as well...but thats an opinion.

$50m would last us to mid 2023..

But I don't see this going beyond the AGM without significant external 'corporate action'...

And thats an opinion as well...

Putting my m oney where my mouth is...

Bought another 206440 at c13.79...

Fair enough medi...its RK by the way...

Possibly the worst trait of British people is to look for somebpdy else to blame when things go wrong, instead of taking responsibility for their own actions.

Right now I am down about 65% of the money I had previously made in Solgold, but I am responsible for my own decisions, including averaging down to just over 20p and holding so many shares between my wife and myself.

The only logical conclusion with the AGM fast aproaching is that there will be a takeover war.

With people panicking it wouldn't surprise me in the least if this share fall was being fed by one or more possible predators.

Looked at rationally, what we have here is capitulation.

As I said the other day, it is dangerous to try and catch a falling knife and even at this bargain basement price you'd have to be brave or patient to wade in.

Meanwhile the MMs are having a field day. They make their money by selling shares they don't own and buying them back cheaper, including hitting stop losses..

It would not be surprising now if people concluded that Darryl joined in order to trash the share price, making it cheaper for BHP to buy Solgold.

But I guarantee you there would be at leats one counterbidder, if not more.

Nick, DGR and CGP do not seem to be panicking, so maybe they know something we don't...?

The Board and Daryl have made a lot of changes with the result that we hve had massive value destruction since his appointment.

Ingo must be crying into his beer...

Try these for starters...

"Other key management personnel consist of the aggregated remuneration of (inter alia)... Ayten Saridas (Chief Financial Officer, appointed May 2022, resigned July 2022), Benn Whistler (Technical Services Manager-resigned), Chris Connell (Regional Exploration Manager, resigned February 2022), Peter Holmes (Director of Studies-resigned), Ingo Hofmaier (Interim Chief Financial Officer to May 2022, Executive General Manager Projects and Corporate Finance-resigned) ..... Geoff Woodcroft ( Chief Human Resources Officer, resigned 29 October 2021)....Karl Schlobohm (Company Secretary, retired in June 2021), Priy Jayasuriya (Chief Financial Officer, resigned in November 2020)....Nadine Dennison (Chief Human Resources Officer, resigned in March 2021)....Steve Belohlawek (General Manager Underground Development and Mining, resigned in October 2020) and Eduardo Valenzuela (Executive General Manager of Studies, deceased).

Ouch!

medi get a sense of perspective and stop scaremongering.

If you don't hold shares, go away.

If you do, you must be incredibly stupid.

People thinking unfounded worrying thoughts out loud on here, who hold shares, must have a death wish...

Stop it!

Colonel

The share price is being trashed because people are wetting themselves about the possibility of insolvency.

That cannot happen, because there is always a source of funds at some price, at the very least to keep the engine ticking over.

I agree with you that another royalty deal is now the rational way forward and I think the Board is playing a deliberate game of holding BHP and NCM to ransom, i.e. let us fund the way we want to or your shares could be worthless.

I repeat...this is not Sirius.

What you have to understand is that Solgold replaced BDO LLP as auditors last November with PricewaterhouseCoopers LLP who, being new have rigorously applied the 'going concern' statement, having interviewed management in depth. So we've got a much tougher one, but the Directors are absolutely right that funds can still be raise at a price.

It doesn't help that we have an Interim Finance Director who has probably rolled over and agreed to the detail that has been stated.

Companies that are far worse off than us have to make similar statements, because if a company went bust the auditors are in thee firing line for litigation if they haven't properly reviewed the risks.

Here is the reason why PWC have been so tough on Solgold. This is an extract of the Financial Reporting Council's assessment of PWC's audit quality:

"The firm has taken steps to address the key findings in our 2019/20 public report, with actions
that included increasing resources, focused training and updates to audit guidance and work
programmes. We have identified improvements, for example, in the group oversight of component
audits and the audit of long-term contracts, both key findings last year. We also identified good
practice in a number of areas of the audits we reviewed (including enhancing procedures to respond
to heightened audit risks due to Covid-19 and the continued use of internal specialists and experts)
and in the firm-wide procedures (including a number related to methodology and training).

The main recurring findings related to the evaluation of management’s impairment and going
concern assessments."

Note the last sentence...

BHP getting closer...

https://www.kitco.com/news/2022-09-27/Miner-BHP-wants-to-expand-presence-in-Peru-says-executive.html

Angels on the head of a pin...

MD&A still to come by COB Ontario tomorrow...

https://www.kitco.com/news/2022-09-28/-Copper-is-the-new-lithium-these-metals-are-facing-shortages-Nicole-Adshead-Bell.html

Mothing much to see here...move along please...

Wow! Somebody dumped 90,000 at 183p when the bid was 190p!!!

Our gain...managed to pick up 34,000 or so at below 190p...

Who would have thought it...even Jesus paid 226p...

Is that what you just did lutho...? Cheeky or what...?

126,810 out at 15.80 and 125,707 back at 15.83...

Clever. Good luck.

Agreed DBW...

Meanwhile, short of a soecial situation, nothing is going up before the dollar corrects...which is long overdue!

Inverse correlation between dollar and commodity prices, but...

A collapsing pound makes UK quoted shares much cheaper for dollar holders...

"Legolas: The stars are veiled. Something stirs in the East...."

Jiangxi MCap $47 billion...

Sumitomo Corp $2.29 TRILLION...

Surely Boliden or Jiangxi would pay some cash up front to secure ore of this quality...

Indeed Jiangxi could buy the lot...

You xcould be right mog...

Jiangxi would do a smelter deal...

Or Japanese...don't forget Sumitomo and there aspirations with ALL...(connected to DGR/NM...)

My God! Are we having to resort to Investors digging for copper now...

I agree Mathers...and for that reason I took a chunk of CWR at 362 a couple of days ago. Berenberg repeated their 1560 target on 22 Sept...

But meanwhile all boats rise and fall with the tide...even my GPM and ATYM 'hedges' are not immune...