Member Info for mattlilly

We're retired.

Solgold has a $1.6 billion mining project to deliver and 85 other prospects.

To do that on $250,000 is peanuts...not to you or I of course...

But the average FTSE250 CEO salary is $2.25 MILLION plus an average Bonus of $1.65 billion...

Big salaries....?

Scott is on a Basic of $250k...peanuts...

Stackhouse half that...

Shaun Day at Greatland is on $353k basic plus $294k Bonus

You can't seriously believe that Eloro...?

Why would Scott and Sangha shoot themselves in the foot...?

If the price was left to ride up it increases the starting point for any bids...

Yeesh

BTW Christine and Scott are not responding to anyone thanks to BBG's assault on them...

Gold has actually been up and down recently...

So to give an example, I have EQX...

14 Nov Gold 2530...EQX $7.33

22 Nov 2718 8.00

6 Dec 2615 8.01

11 Dec 2716 9.07

12 Dec 2675 8.39

So...like SOLG...no real correlation...people buying on sentiment not fact BUT...

Nobody is really selling SOLG...todays volume £70k of which £9k was the UT...i.e. £61k days trading and we alone hold £220k...

So don't worry...with nobody selling, when meaningful news breaks, e.g. the long awaited $900 million the SP will spurt...

Gold flying...copper flying...only a matter of time...

And BTW Pessimistic...if the shares are going to 4, let alone 3 or 2, why did everyone except Newmont support Nick's reelection and why did Scott get 93% including all the majorse...and why have FNV/Osisko given us $750 million...

You started posting on LSE 6 days ago...this was your 11th post in total...

So you clearly are either a newbie to investing (although you say you've been in KEFI for a while...that alone questions your sanity as you must have lost a pile, including another 28% since 29th November

And you seem to be deluded...with no credibility because on 6 Dec you posted:

"Well, I have been watching this for years, I can finally see some glimmer of hope.

I started a position yesterday. "

But on just 3 days later you posted:

"Been holding and adding for a number of years. "

So you are not to be trusted because you're either a liar or you've totally lost the plot...

Complete amateur either way...aren't you...go on...admit it...

No doubt you'll disappear before you look really stupid...

There are people on here who would love to see your detailed TA analysis of why the SP will go down to the 4s, 3s, 2s...

You have no idea pal...six posts and you think you are an expert...

I sincerely hope you regret missing out on this big time...

Just plucking silly numbers out of the air with no rational argument...pshaw!

Read the RNSs Bridget. The last two Company Updates tell you everything.

No drilling of regionals ATMO but who knows? A streaming deal on Porvenir to fund them?

$900 million copper streaming deal overdue...

Who are the 3 idiots that ticked up his post

It looks like there may finally be underlying demand for Junior Miners...

I bought ADT1 and CAML today and had to pay up and do both in smaller chunks...

Similar look for SOLG...

Heres hoping...

Sorry...missed a chunk but this all started with you saying the Osisko deal was only for Cascabel...

“As at 30 September 2022 the Group had cash on hand of US$11.52 million”

The quarterly net cash outflow was running at $14.357 so they would have run out of cash in the December 2022 quarter so they stated:

“Together with their brokers and financial advisers, the Directors and Management continuously monitor the conditions in the relevant capital markets and regularly consider various forms of financing available to SolGold. The Directors and Management are in regular touch with equity investors and actively participate in investor conferences and other forms of investor engagements as there is a need to secure further funding to meet their exploration and working capital

commitments.

The Directors have a reasonable expectation that the Group will be able to raise funds when necessary and, as has been the case previously, the Directors expect that future funding will likely be provided by equity investors, debt funding or via other strategic arrangements.”

In the half year report in February 2023 they reported:

“During the period, SolGold has focused on exploration at the Helipuerto, Porvenir, and Rio Amarillo regional exploration projects.”

And

“Cash of US$22,961,177 (2021: US$40,377,286) was invested by the Group on exploration expenditure during the six months ended 31 December 2022”

You said:

"I'm well aware you're referring to the agreement with Osisko struck alongside the merger......

You'd be hard pushed to find a streamer who wants to put money up with no clear path to being repaid"

Yes the royalties are on Cascabel but I say again there was no specified restriction on their use.

""This financing provides the Company with greater optionality going forward and is an overwhelmingly positive development for all our stakeholders. SolGold is very well-positioned to advance strategic project initiatives and accelerate exploration opportunities that hold the most significant potential to generate shareholder value."

"Cash of US$22,961,177 (2021: US$40,377,286) was invested by the Group on exploration expenditure during the six months ended 31 December 2022"

And while I'm firmly bid for 300k at 7.93 I cannot buy more than 100k at 8.03...

Copper price improving...bought CAML this am...11% yield...

Just to show liquidity is the problem...

950k sold at 7.75 c9.15 (late booked)...offer rose to 8.46 by 11.34

A few minutes later, 8.31 paid for 600k...

Theres underlying demand but liquidity is the key to unlocking a rerate...

"Again DC thought he could do better and unilaterally took the deal terms to FNV to try and negotiate a better deal. "

I conceded that but we don't actually know...as I said, if BHP voted against Mather, only another 2.7% did, which is a vote of confidence in my book...and there cannot be any doubt that BHP and Newmont supported Scott, which is even more significant...

The Osisko deal may have been announced 'alongside the merger' but it wasn't connected except in as far as SOLG would have been insolvent without it.

The merger was by no means a certainty on 7 November 2022 and indeed was only approved by CGP shareholders on 10 January 2023 and completed on 24th Feb 2023, 3.1/2 months after the Osisko royalty financing.

Bozi...the Osisko $50 million wasn't a streaming deal...its a royalty finance deal. Not a streaming deal. It is secured by guaranteed royalty payments from future gold sales from Cascabel.

As I pointed out, the funds weren't ringfenced.

They were primarily to 'keep the lights on' at Solgold, which had been on the verge of going bust when DC was sacked after 'going rogue' twice.

IH was the 'Director' responsible for Capital raising. He and AS had been preparing a $100 million Equity issue with the shares around 35p.

DC on his own initiative went to Barclays Australia who put together a 'cashbox' issue which would have resulted in further dilution for BHP and NCM. The proposed issue failed very publicly in the City.

The Board supported DC and Ingo resigned. AS was left to pick up the pieces but a month later it came down to DC or AS. Again the Board supported DC so AS resigned.

This left SOLG with an urgent need for cash. Sangha (BS) came up with the proposed $50m deal with Osisko (close friends and based in the same office in Toronto).

Again DC thought he could do better and unilaterally took the deal terms to try and negotiate a better deal. BS went ballistic (you f*****g moron). The Osisko deal was completed and DC sacked 3 days later.

As BS said later DC would have bust the company.

How do I know all this? Direct contact with the three 'good guys')

You can't be sure of that addickt...

Major shareholders own 33% (BHP Newmont DGR Jiangxi)

Directors own 3.1%

Institutional shareholders own 29%

https://finance.yahoo.com/news/solgold-plcs-lon-solg-largest-123712557.html

And the CGP shares (5.2%) would have been voted in favour

That leaves almost 30% unaccounted for, including you and me...

And you're missing the point that the largest TOTAL vote ON any motion (approving the Auditors) was only 1,421 billion, or 47.3% of Total Shares in Issue

And the largest vote Against any Resolution (to appoint Mather) was 385.2 million (12.8% of total MCap)

So its feasible that none of the three majors voted against any of the 4 Resolutions you mentioned

Now of course 12.8% allows for the theoretical possibility that one only of the 2 Majors voted against all those Resolutions, and the most likely would be BHP BUT...

Taking out a major shareholder means that only 2.7% of the rest of shareholders were voted against him

More significantly only 3% of the total shares held in issue were voted against Scott...

Lies, damned lies and statistics...

Bozi...if you look carefully I'm talking about the "Royalty Financing"):

"The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to announce that SolGold has completed the previously announced US$50 million royalty financing pursuant to the Royalty Financing Agreement ("Royalty Financing") with Osisko Gold Royalties Ltd"

NOT the "gold stream agreement"

"SolGold (LSE & TSX: SOLG) is pleased to announce that it has entered into a syndicated gold stream agreement ("Agreement") with Franco-Nevada (Barbados) Corporation ("Franco-Nevada") and Osisko Bermuda Limited"

The $50 million was raised against Cascabel but wasn't ringfenced to Cascabel as my quote showed:

"This financing provides the Company with greater optionality going forward and is an overwhelmingly positive development for all our stakeholders. SolGold is very well-positioned to advance strategic project initiatives and accelerate exploration opportunities that hold the most significant potential to generate shareholder value."