Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Well said ToS
I am totally with Quady and Copperpot on this one. There is real value in this share. We need some patience in the short term (we have been patient for a long time now but it will pay off) and some good drilling results.
Am I right in thinking that recent share trade volumes in Solg have been significantly higher than the average over the last year or so? Solg was not averaging large volumes (roughly about 1 to 3 million per day) but the volumes in recent days seems significantly larger although the SP is not changing much. Any thoughts on this?
Woody B. Good question. NM said yesterday that he was hoping Franco could get on the ground to do site due diligence on Apala soon. Equador still suffering from Covid. So my guess it won't be very soon. But others may know more
Yep. We've all been there
I endorse Quady's comments BNC. I hope you are well. I think the 18 year old Glenmorangie is one of the best retail whiskeys going around. Sorry to digress from Solg. But we seem to be in the doldrums at the moment. The Royal Navy would have been drinking rum. It is ok to talk about whiskey
Ha ha Copperpot. Wouldn't that be great indeed. To see this share realise its potential and have a party. I would love to travel to the west coast of Ireland to celebrate with a pint of Guinness mate.
all the best
It kind of feels like waiting to be invited to a party you would really like to go to and you keep wondering if the invitations have gone out. Living in Australia I am getting scared to go to sleep in case I miss an RNS. NM probably is really enjoying this
Quady, NH and Robert, I hope you are right. It would make sense. That would be a very welcome development. I think sorting Cornerstone out would have a significant effect on the SP and, in any event, would make Alpala a much cleaner proposition for BHP to buy
It would be a real blessing , and save a lot of pointless reading, to leave the bickering to one side.
I think most of us check in on this BB essentially to learn from others and, if you are like me, to see how other long term holders are feeling about things. I don't know any of you but I have come to know you through your posts and I enjoy reading them.
I do think, as Zoros has indicated, and it is a valid point, that people who say anything negative or pessimistic get attacked too quickly. Sometimes they are just saying what others are concerned about or raising matters for genuine discussion. This should not just be a cheer squad.
A couple of things on my mind at the moment are the following.
First, I don't think there is a very clear explanation for the latest smaller fund raise (understatement of the year so far) or why the Primary Bid was open for such a short time that people in Australia (where a lot of shareholders are) completely missed it. Not that it matters financially as the pricing was not attractive as the current share price shows. But it is poor governance to pull a stunt like that. Addicknt has already given some useful insight on this.
Another point I hope like Copperpot (someone whom I find entertaining and insightful) that NM is "playing a blinder". But if he is playing a blinder he seems to be keeping it pretty well hidden at present. I don't see the inherent wisdom of getting two major players (Newcrest and BHP) who own 30% of the company offside. If NM has eliminated the chance of a friendly takeover and we are now reduced to hoping for a big win through a hostile takeover it does not strike me as clearly "playing a blinder". I sincerely hope that NM has a brilliant strategy and is not letting his ego get in the way or travelling beyond the limits of his excellent experience as an explorer and seller. But that fund raise the other night had a bit of a "smart alec" aspect to it and "f*** you" to the major shareholders. I hope this works out in all of our interests.
Another matter I notice is that the volume of shares traded on Friday was exceptionally large for Solgold. Nearly 62 million shares traded. That is a lot by Solgold's normal 2 to 3 million standards. So something seems to be going on.
Good luck to all of you and thanks for constructive posters on this BB.
BNY, I do look skywards. It is simply wrong to say that these statements are in each and every financial report. We have to take account of facts as well as aspirations. I am optimistic. But the formal report is not what you would expect with a company that has a Tier 1, world class discovery. Solg does not have a SP that is consistent with its discoveries. Enough negativity from me as I want this share to be great. But also enough condescension and nonsense about what financial reports say.
Thanks Quady. Good response and interesting read.
Quady,
A lot of us have been with Solg for numerous years. I am a patient investor. But the refusal of this SP to climb on good and significant news is frustrating. It should be at least 50p or above by now. The next milestone seems to be October when BHP ceases to be restrained, or the delivery of the PFS. But we have hit a number of milestones now in very good fashion and the SP has not reflected that. I feel like AK. An investment horizon stretching beyond 5 years to 10 years (if production is what we are aiming for) is a long time for a speculative share. I am a big believer in the quality of the resource. But I am a bit mystified by the stubbornness of the share price to move and can't really explain it. Even without Covid it was not really moving in accordance with very good news. Let's hope that long term patience will be rewarded. Good luck and fortune to all
couldn't agree more AK
DBW, I think you are correct. Also, the report is co-signed by Brian Moller. NM is an entrepreneur who has had great success. Moller is a careful and very well respected lawyer who, I expect, would make sure that the formal reporting was couched in words of appropriate caution. Moller is very good at what he does
Yes Damian. I thought this too. But the report refers to the new funding agreement post 31 March so I was a bit surprised by its negative tone. The suggestion seems to be that the draw down on funding is subject to conditions
That report does not read positively, particularly about whether they can treat the company as a going concern, and about the potential need to sell assets
I agree L2. Nick Mather must sometimes wonder what he has to do to get the market price to move. I thought the news yesterday was a big step forward and was hoping to see a sharp jump in the share price for a change. We have to be patient about this but perhaps the time frame is now more confined than it was before: the time frame for big movements, I expect, is in the next 6 to 12 months. I expect the price will move sharply when it moves
Agree with that DBW
Thanks BNC.
I had thought that CGP owned 15% of the entity that owned Alpala, so that Solgold owned 85% (and had certain rights to acquire that 15% upon certain hurdles being reached). I had not realised that CGP had direct shares in Solgold. Do you know what percentage they hold and what percentage they have sold? I do appreciate the information so thanks