Member Info for mattlilly

Solgold floated on AIM exactly 15 years ago at 51.5p...

It fell to 1.5p on 21 October 2008 on unfulfilled expectations...its name is based on 'Solomon Islands Gold"...

On 23 September 2010 the rose 300% when "it announced that 157 samples from its project on the Fauro Island had returned 97.6 grams per tonne (g/t) gold, and 90.1g/t silver. "

It hit 44.5p...those were the days...

How are its Solomon Islands investments doing now Quady...a mere 1o years later...?

In the 2013 Annual Report they stated:

"SolGold’s continued aim is to advance a portfolio of exploration assets and deliver shareholder growth through the discovery of gold and copper deposits."

By the time of the 2016 Annual Report, Nick Mather was CEO but the Company's strategic aim was still:

"The Group’s corporate strategy is to:

• Createsubstantialwealthforitsshareholdersbyexploring,discoveringanddefininglargeinventoriesof,butnot limited to, copper and gold metal."

As late as November 2017 the position was the same:

"The Company’s corporate strategy is to:
• Create substantial wealth for its shareholders by exploring, discovering and defining large inventories of, but not limited to, copper and gold metal."

An the 2018 Half Yearly Report stated:

"The focus of the Company during the financial year ending 30 June 2018 will be to continue exploration on its Cascabel project in Ecuador..."

The SP was then 22.4p...

And then the whole emphasis was changed by Mather...208 Annual Report, 28 September 2018...

"The vision for SolGold is to add to our already demonstrated strengths as an explorer at Cascabel, discoveries on the other projects all through the spine of Ecuador along the gold rich Northern Andean Copper Belt. In addition, we aim to add a development and production leg to SolGold’s project inventory by moving Alpala into feasibility and development stages." Nick Mather

The SP was 35.6p...

And then Mather started to overreach...

BDO put one of the top reasons why businesses fail as:

"Over optimism: Business plans often promote the positives and the best case scenario in a desire to wow investors and get engagement, but it is imperative that you consider what would happen if delays happen and how you would fund this."

So please don't blame me for being cynical about Alpala and right now actually wanting a JV of SAlpala or even a bid.

I repeat...Solgold will NOT bring Alpala to production on its own...and indeed it risks making itself highly vulnerable to a takeover by seeking to do so...

They would be far better creating funding out of JV ing Alpala and using the growing funds to develop their 'string of pearls'

Totally agree Scoutt...very tempted this morning...

Bonkers! Do you actually read what you write before you hit Return...?

"That's OK Smickster if it's 2070, I am still holding...."

1.2 million shares and you really believe this?

Or is it more important to you to be right than to make money..

Quady...I'm going to pin my colours just as firmly to the mast as you.

This is my opinion:

SOLG will NEVER bring Alpala to production on their own. If they survive a bid it will be a Joint Venture or sold on its own.

"NM has brought this company to where we are now..."

Thats ironic...

First hit 22p 64 months ago...

46p 55 months ago...

42p 28 months ago...

42p 23 months ago...

42p 4 months ago (when Nick shouted 'SHOCK AND AWE"

Now 22p...

"This has never been a get rich scheme...."

So what is it...a charity...a benevolent fund for retired investors...

I do NOT want to wait another six years to 'get rich quick'...

I don't care how we get there, but this has to be monetised soon...what's wrong with that?

Shabby, cheap journalism...

Like so many analysts that update their (wrong) forecasts after the price has fallen sharply...always behind the curve...

This tract is particularly shoddy...

WHY did FNV pay $100m for a 1% royalty (100 x $100m = $10Billion)...they and Wheaton never pay anywhere near real value...that's how they mint it...

Can't even get his terminology right...PEA = PFS...and he's setting himself against Hannam & Partners who are close to the Company and where Ingo was a Partner only 2 years ago...

"deferred for another year..." I think not...I am certain the DFS is being completed alongside the PFS and financing discussions have been underway for at least six months...

He does sound like a GGP investor gloating over SOLG...

"unlike the brokers who continued to tout their absurd NPV based ‘targets’, four times higher than the shares are now) but any value has now been deferred even further by Solgold having to start a completely new and cheaper mine plan, with its updated economic analysis (PEA) that was expected any time now, deferred for another year.

Copper hit $3.93 moments ago...

Thats double in less than a year...

It is now the highest in almost TEN YEARS...and this price has only been bettered for 9 months during 2011 in the entire history of copper prices...

And yet SOLG languishes...

Agreed Fastjet but they already have an independent Director who is incredibly well connected with the Ecuadorian Government...

I have no problem with age Novice...I'm 72 myself and was appointed GFD at 58 and a Chairman at 69...

If you've got it you're young enough...Fergie was 72 when he retired...Roy Hodgson is 73, but...

Alpala won't be in production before 2026 at the earliest, so he'll be in his mid 70s and while it is illegal to have a mandatory retirement age, CEOs have an average age of 48.6 and Directors usually retire in their 70s...

However...his last job was as COO of SSR Mining and he would make an ideal for 2/3 years if they can't find anyone else that fits the bill..

Dunkerton is by far the biggest shareholder...if he had sold they would have been a takeover candidate...

he is a very good example why you SHOULD ask them to sell, because he is now a problem

"The board is against his move, saying that it would be "extremely damaging" and Institutional Shareholder Services, which is the biggest proxy voting agency globally, has recommended a ‘no’ vote. "

Walker OWNS Iceland...

You could also have mentioned Andrew Tinkler of Stobart Air...and the Flybe affair...

That is perfectly correct but as I said, iff an Executive Director leaves a company under a cloud they are normally asked to sell their shares and realise their options if they wish...

I've already enunciated the reasons why I think NM has been asked to stay on, but its not going to be easy for the incoming CEO with him still around the shop...

Ona day when gold has tanked...UT 87,800 at 22.70...encouraging...low volume, but thats OK...

Didn't say he was...he will remain Alpala Chair...but his block caving leadership in Mongolia and the painful lessons Rio learned will undeniably inform his leadership...

O'Kane is the more likely if they can't find anyone else because he has consummate South American and Operational experience...

However, they've both got to be in their 60s at least...

Stockbroking is a completely different business...I was one of those as well for Sheppards & Chase...

However, Mather was a founder of Solgold and that is another reason why he would be allowed to stay.

But Executives are normally required to sell their shares.

I am totally chilled Richr...had a busy day elsewhere trading my gold/silver stocks....just come back in and saw Quady making these authoritative statements again...seems to confuse facts with opinion... ;-)

I was and that is exactly why I know what I'm talking about...the Nomad would be extremely uncomfortable if somebody left the company under a cloud and was allowed to keep such a highly influential shareholding...thats exactly why I think he's been kept on...and for his experience of Exploration of course, but look how they've gradually got rid of the Oz clan...

If you have any specific detail I would be delighted to know...

Read my post again Novice...a NED is a Director...

Ingo has the experience of monetising the assets...just look at his CV...Corporate Finance expert does just that...

Wrong again Quady...they have Marshall with block caving experience and they haven't said anywhere they want a CEO with block caving experience...

"The Company will commence immediately a global executive search program to identify and engage with candidates that have experience in base and precious metals exploration and the construction of large copper-gold porphyry mines in South America, development financing and executive corporate management."

If they got someone that would be a bonus...

The change of direction is already underway...Alpala Project Committee, the Board and Ingo...

Wrong again Quady...

Keith Marshall has block caving experience and You Tolguei is thew biggest new block cave mine in the world...

"Mr Keith Marshall is based in the UK and has over 40 years' experience in the mining sector and has worked on significant underground mines around the world. During the last fifteen years with Rio Tinto, Keith held senior mine leadership roles (General Manager and above). Keith's last two operational roles with Rio Tinto were as Managing Director of the Palabora Mining Company in South Africa (during its successful transition to block caving) and three years as president of the Oyu Tolgoi Project in Mongolia."