Member Info for mattlilly

Oh thanks Quady I'll have to stop writing 2020 on my cheques...

Meanwhile, I've estimated that you don't have that much 'skin in the game' with SOLG...

You've said its 'more than 5% of my portfolio,' but you bought at 4.6p...

"I have one share in my growth Portfolio and it's Solgold.
So while this is a significant amount of money for me, I brought all my Solgold shares with excess dividends at an average of 4.6 pence.
Hence my relaxed attitude to the share price, as I am not depending on Solgold to change my life."

So when you originally bought it would be only about 0.7% of your portfolio in current value terms...

And although you've been investing for 40 years, you bought your SOLG shares with dividends...

So putting all this together, I'm guessing that your SOLG holding can't be much more than £10,000, if that...

I wonder how this compares with most on here....

And yet you haven't posted on any other share in your last 668 posts...that's SIX HUNDRED AND SIXTY EIGHT...

Is that a retirement occupation, fixation, or addiction...

No wonder you will be disappointed that Nick isn't taking Alpala to production and it will be either JV'd or sold...

How on earth can we be closer to funding this (in the way you believe) when Nick himself has implied that the DFS won't be before 2022...yes 2022...and the CFP is co-terminous with that...just look at every Presentation on the SOLG website for the last year...

Are you wearing black tinted spectacles...?

Quady...you see what you want to see...

Your reaffirmation that the AGM was a success simply confirms your delusion IMO...

I hope you don't apply that strategy to all your investments...if you'd been in SXX you would have lost fortune nailing your colours to the corporate mast because 'BODs don't lie' or similar...

You weren't in SXX were you...

So this extract summarises the clear conclusion of the more reflective posters on the other side:

"Nick has done an excellent job but his time as CEO was up. Comments like Dog in a manger against your major shareholder likely sealed his fate.

Many thanks to Pob for pointing out the subtleties' of the announcement. Having read the announcement through this lens, it does appear that any pretence we will take mines into production is gone. In my view, it either means we will sell discoveries whole or we will retain carried interests in our discoveries. If this is the new strategy, it means that Cascabel will be first out of the gate.

As we will need funding to continue development of Porvenir within the next 4 months and the Alpala PFS is due in less than 3 months, I suspect we will get a deal in about 3 months time. Hopefully we'll have 4 or 5 holes drilled in Tandayama by then."

Good luck...I suspect that our paths will diverge soon after things 'hot up' here...

He also posted this...

"We support #Cornerstone in their attempts to change $SOLG CEO leadership.

CEO Nick Mather’s sometimes bizarre behaviour makes him unfit for the job now .."

Have a look at Middelkoop's involvement in CRV...

That section was THE WHOLE OF THE BOTTOM...I didn't edit it...and over on ADVFN they're saying the same thing...where's the reference to production...

Now I know what it must be like to be an aide to Trump...

I can read Quady...

Here's what it actually says...

"The strategy of regional exploration designed by Nick and his exploration team will continue to be pursued and has the potential to deliver a string of major projects for SolGold, its shareholders and Ecuador.



Exploration and discovery is in SolGold's DNA and we intend to continue that evolution. The succession plan is designed to build SolGold, and there will be no abandonment of the exploration, discovery and marketing processes we have developed over the projects in Ecuador and no change to the open and value adding independent financing strategies for future developments."

Where are the words construction, development, production in that...?

It says 'build Solgold' not 'Build Alpala'...

Dream on Quady mate...one way or another SOLG won't be developing Alpala on its own...

Just wait for the fireworks over the next few weeks...

There may be an offer at 50p (which would be a waste of time) but that's nowhere near the end game...

BNC I've also written him a personal note, thanking him and wishing him all the very best...he's done a great job and anyone who rubbishes him now is ungracious IMO...give the man the respect he deserves...

This is an interesting one, and no doubt there will be much speculation...

"Mr. Nicholas Mather, has advised the Board of Directors of SolGold (LSE & TSX: SOLG) that for personal reasons, he will retire from the role of Chief Executive Officer..."

These are typical words when a CEO leaves a company rather than be pushed, but...

He's staying on as NED...

In the AFR article he went on a charm offensive with BHP/NCM and also admitted to 'blueing' which is an OZ slang word for looking for a fight, more or less...

Together with the verdict of the AGM Election (I won...I'm going nowhere) and we may presume behind the scenes lobbying by BHP especially since the FNV deal, the new independent Directors may have forced this.

The fact that Nick is staying on indicates a number of possibilities....the first is all his accumulated experience, wisdom and kudos in Ecuador...too good to waste?

Or, he may have put a gun to their heads "get rid of me and I/we (with DGR) sell all our stock to the highest bidder...

Or he may be 'minding the shop' until a new CEO comes in, because it would be unusual for a CEO to remain after a new one comes in, unless Nick is stepping up to be Chairman...

But finally, he may genuinely have sound personal reasons...he's 62/63 and it will be another 6/7 years before SOLG produce their 'maiden' results after a full year's production at Alpala...

Also he is Chairman of DGR Global, where he has just appointed a transactions based NED...it may be that he feels he has neglected DGR and they recently raised a slug of capital...furthermore if SOLG was bought there will be a huge additional amount heading their way to invest...

He's a son of Brisbane and for all we know he may also have health challenges...with children or grandchildren it would be a huge challenge to spend the vast amount of time a CEO will have to spend in Ecuador for the next 7/10 years...

And then there is the risk of COVID...far lower in Oz...

So...all speculation...I will echo the vote of thanks...and I think this puts everything in play...it can to harm the share price in the long term and the muted reaction (actually a rise on the news) suggests that his stepping aside is a positive move...

IMO and all views welcome...

So much for rubbishing Reuters...

Not always smickster...tends to dress up opinions as facts...

Understood rcgl...

Baros...last January...idyllic...

So rcgl....you would gamble on the geopolitical. market and other risks over the next 7 years , gambling that SOLG would hit a 'finger in the air' £8, rather than grab a profit now and reinvest many times over during that time period...?

If so...fair enough...

Nope zoros...just keep what we've got...

I suspect if we're all totally honest, if there was a bid tomorrow for £1 most of us would sell...

if only to not read rubbish every day...

Trouble is, we wouldn't be able to spend £1 million now because of COVID...and I already have the car of my dreams...

I look forward to posting you all from the ~Maldives later this year...

Yes but then you'd have no audience...even Trump craves an audience... ;-)

That's very insightful Quady...

So under £1 is cheap and you've named names.

Fair enough?

Thanks for the unequivocal answer.

Thanks for your constructive response Quady.

You still haven't answered the 'sell cheap brigade' question though...