Member Info for mattlilly

Exactly the same for me Fawzi

All I do is ask the right questions

Nobody in their right mind would think anything I've posted is inside information.

Sometimes, as with AG, I reword the answer to post on here. But the gist is exactly the same

Tut tut addickt...his (or her) authority...

Weve had a 'top candidate's since August 16 at least...and several in reserve at that date.

When you look at the precise job requirements you can see why it's been hard to nail the right appointment

No DBW I'm saying that any suggestion there is no CEO because of a takeover bid is rubbish. And any conspiracy theories relating to the CEO specifically

Once again with Solgold Finance AG there is, yet again, spurious speculation, including the idea it is a structure for a takeover...

After several exchanges with the Company, my conclusions are clear:

1 As stated, it was a structure put in place initially to 'house' the Franco Nevada NSR and any future off take agreements, however

2 It also serves neatly as the perfect vehicle to finance Alpala production while leaving the other four 'major' subsidiaries ringfenced for the Board to get on with

3 I am now in no doubt that the bulk of financing will come from debt and alternative sources. As I've said before, there will almost certainly be an equity element which the parent will raise and 'trickle down' the funds to Solgold Finance AG. For the debt finance, bankers routinely expect 'skin in the game', i.e. an equity element, which personally I think would be convertibles of some sort

4 Having thought it through, there is no doubt that the tax advantages of Switzerland (even though they have been watered down in recent years) will be an important element.

Not only is it a 'friendly' jurisdiction, but they also have excellent relations with Ecuador. You don't set these vehicles up for short term reasons...this is here to stay for as long as Solgold plc remains in dependent

Given Ingo's background and specialism in Corporate Finance, this will have been throughly well researched and tested out for practicality and legal ramifications.

5 So in conclusion, AG has not been set up just for the FN NSR; there may well be further or similar contracts down the road, but it is the perfect vehicle for debt financing of Alpala.

Enjoy...

Your last sentence is correct, but please keep in mind, the likely appointee will have been working elsewhere...there isn't a Job Centre for ex top Mining CEOs, with a roll call of candidates waiting to be gobbled up.

Ad given that we are talking about a highly credible candidate, it is almost certain that they will have had to take 'gardening leave' from their previous employer, especially if it is from a major.

That can be routinely six months....

All the conspiracy theories are IMO nonsense, especially the one about a takeover meaning no CEO.

We're all frustrated and it is true that my original info from 16 August was "2-6 weeks" but it would make Solgold look pretty daft now if both Fawzi's and Keith's words were not to come to fruition PDQ now...

Enjoy your Sunday...

It wasn't six months ago DBW...

Yes the report is to 30 June 2021, but I can tell you as a former plc GFD that the words of the Chairman and CEO are often being finalised right up to the last minute before publication, which was 28 September in Canada.

It is very likely that they had a different version in draft got insert in case the guy/girl signed on the dotted line before publication.

OK guys
Here's Fawzi's reply verbatim:

" SolGold Finance AG was incorporated in September 2020 and holds the Net Smelter Royalty Financing agreement with Franco-Nevada. This was disclosed in our financial statements for the half-year ended 30 Dec 2020.

We report the company accounts on a consolidated basis only in the quarterly financials. In the annual accounts these are presented both on a consolidated (“Group”) and parent company (“Company”) basis. The company number of 5449516 is one and the same so I am not sure why there is confusion on this matter.

The intercompany loans between SolGold plc and ENSA/SolGold Ecuador were reallocated to SolGold Finance AG and you can see this in the Company Balance Sheet as the new line item for 2021 (Loans with subsidiaries – 2021: $167.4m, 2020: $0) that was reallocated from the line above (Investment in subsidiaries – 2021: $120m, 2020: $260m) which explains why you did not see the intercompany loan in the 2020 financials.

Transactions and balances between Group companies are eliminated in full in the consolidated accounts so you will not see these in the quarterly financial statements."

Have a great weekend one and all...we'll get there....

Hopefully Craig Jones will be announced as CEO on Monday... ;-)

Another huge UT...

605247 at 27.60....

The days total trading was only 1734k...

10 day VWAP is around 29.20 and they don't need equity....unless Valuestone has come back for another bite at 32p....

Ah....I think I might have it....the ALGO is trading around the 50 day MA....

Never a problem...
Like you and many others I have a lot riding on this
I respect that there are many professional and better informed commentators on here from whom I continue to learn (with one exception....)

I'm afraid I've never had any dealings or corporate operations in Switzerland, but until recent changes to regulations the main reasons for setting up a Swiss subsidiary were either for tax efficiency or relative opacity...

I'm firmly convinced it is connected to the debt/NSR, etc. financing of Alpala...

'Brylcreem bounce' for copper, up 3% today...

Gold firmly through $1750 resistance at $1764 and still rising sharply...

Bullish M&A article on Kitco...

https://www.kitco.com/commentaries/2021-10-01/M-A-heats-up-in-a-deeply-oversold-mining-sector.html

"While there was a rush for deals after Barrick’s September 2018 mega-merger with Randgold Resources Ltd. and Newmont Corp.’s (NEM) subsequent acquisition of Goldcorp Inc. a few months later, M&A activity slowed in the mining sector since COVID-19 restrictions has made necessary site-visits difficult to plan and execute. With companies focused on addressing immediate concerns of the pandemic, deals took a back seat.

However, as travel restrictions are being lifted and juniors de-risking high-margin projects have become much cheaper recently, I expect the Agnico/Kirkland merger to spark more M&A activity in the mining space and continue on a positive course into 2022.....

With ounces controlled by juniors currently on sale, there are significant opportunities being created in a depressed market for mining companies to transform their portfolios through acquisitions or alliances. ...

After years of underinvestment during the previous bear market, global miner production profiles are under pressure which makes further M&A inevitable during the next few years. The current situation in the mining space is providing an opportunity for global mining companies to use strategic M&A to position themselves to become the clear winners during the next decade.

This is a good time for resource stock speculators to take advantage of the current weakness in the mining complex to perform proper due diligence on a carefully selected watch list of quality juniors."

So you've waited 10 years to post six dismal posts...oh dear....how many shares do you have?

74 trades in the last hour...72 of them by ALGOS...

Shares like Solgold at the exploration stage aren't for 'widows and orphans'...

Just think...you could have owned SXX and lost the lot...some people I know lost their entire pension pots...

Solgold were 10p in March 2020...were you asleep...? At least you've toughed it out since then, so give yourself a pat on the back...

Patience my friend...just look at the Analyst's target prices...one of them has it at over 100p...

But thats the point...you haven't made a loss until you sell...

And you've had countless opportunities to average down...

stuart...if you've had them 10 years and you're still golding, you're not helping your cause...

It might be a good idea to check other similar companies to see how long these things take...

For example, ATYM (formerly EMED) had an established mine that Rio Tinto had previously owned and abandoned and it still took

On 21 November 2007 they announced:

"EMED Mining announces that it is making good progress towards triggering itsoption for the full acquisition of the Proyecto Rio Tinto (PRT) in Spain and therestart of copper production in 2008."

Despite reusing a substantial amount of the old plant, it still took until February 2016 for first commercial production...

8 months later the shares bottomed out at 80p and I averaged down...

They are now 317p...

In the recent Mining Journal podcast that I reported yesterday, one of the successful producers said it can take 8/10 years to bring a mine to production...