Member Info for Ortherncopper

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Interesting thread here

Sean is nothing more than a social media manager… that is all.

Listicles, fun facts and delayed repostings of existing news… a cheerleader.

He is not a corporate investor relations expert.. not even close. I actually find it insulting to investors that Solgold have this guy masquerading as an official investor relations contact.

Bozi. I would maintain what I have essentially said a few times… this is now a bottom drawer share.

Will it come good? Probably yes.

Almost certainly not at a level many on here fantasise about, but yes, Cascabel will probably be monetised. What will be the trigger? Who knows…

Maybe all the paperwork and approvals? That seems to be all we have left to hope for. So now we are back to progressing Cascabel, the original plan that was in place when Scott and CGP took control. Only the share price is now on the floor.

The upside could be starting some exploration somewhere? The lifeblood of a junior… Could be a JV? But we have no current intentions or strategy beyond waiting for paperwork.

I lay all the blame for the current share price slide and stagnation at the CGP groups feet…. No question.

The mothballing of all exploration at an exploration company is a shocker of a strategy! Remember the share price was around 20p when they came on board. Scott at one point, when talking about funds, commented they could raise over 30 million just by selling their shares. They are not getting that today..

Byron, if I glance in the window of an estate agent, they will tell their client they have had interest in the property.

Surely you’re not still clinging to bluster from 4 years ago?

1984, I say again, currently there is simply no investment case, as we are not exploring , we are not developing, we are not building… and have no current plans beyond waiting for paperwork..

We are now a punt.. nothing more, until further plans are outlined and a strategy to execute.

What do you want management to say?

They have already explained they are simply waiting for permits and paperwork and have no other plans beyond that…

Of course the share price is going to slide… it’s 100% predictable.

We are not exploring , we are not developing, we are not building… and have no current plans beyond waiting for paperwork.. there is absolutely no investment case here for new investors….

It is what it is…. A dormant company until further plans are outlined

They could start by announcing an end to the strategic review charade, and announce the chosen strategy to move forward with.

No fund managers or heavyweight investors are going to invest in a company that have failed to announce their strategy after 2 years of constant review. It now looks like incompetence or failure.

Announcing a date by which it will be concluded and then announced would almost certainly help a re rate. But if it has been a giant disappointment, which is my guess, they will continue to string it out, with non specific generic language, obfuscations and no end.

Have I missed the MDA somewhere or is it overdue?

Hey PBow. There is a lot to find positive in the document.. though obviously there is a lot of data and legal filler to wade through. I’m pleased to read there is very strict oversight of how the funds are to be spent from Osisko and FN.

My view of Solgold remains the same after reading/scanning it. It’s a share that will probably pay out one day…. But almost certainly not any day soon… and in my view, it will be a payout lower than many on here talk/dream about.

Is there a pre agreed sale/monetisation? Maybe. But I’ve learned it’s better to be cynical with low expectations in regard to Solgolds progress.

I have had a fair look over most of the purchase agreement.

There is quite a lot of detail ‘redacted for commercially sensitive reasons’ specifically in regard to the various schedules, each of which is broken down in to a specific subject, costs estimates, permit schedule, initial operating plan… etc etc… until section G, where the subject is “intentionally deleted”….certainly peaked my Interest… but could be nothing.. conspiracy people can guess what section G may be… it must be there for a reason?

Interesting that Solgold have to report progress to the purchasers every month with a detailed breakdown of funds spent… Osisko and FN clearly keeping a tight reign on how the 3 scheduled payments are spent… which is reassuring.

Some details on chage of control payments etc…

It’s not finished… but nothing much is going to happen for 18 months with all operations mothballed and management just waiting for permits..

It is what it is now.. a bottom drawer share.. one to put away and forget

Im sure all the big investors check out the posts on this forum before they decide to put their money somewhere else….

That's the problem right? Messages here putting off serous, real investors?

Nothing to do with management’s that have soured any excitement Solgold once had in the junior exploration industry.. by shutting down all exploration, and the interest/excitement that it generates.

Eloro, I assume the vast majority of people invested here thought Bob would have flogged it, or completed a monetisation of some type before now..... He looks rather stupid now after those initial comments..

But the reality is you cant force people to buy something... if there is no real significant current interest to buy.

Management have had to quietly back off their initial bluster, sneering about a previous culture of non performance etc, claiming it doesn't need any more studies, and have had to quietly revert to simply continuing previous managements aim of progressing Cascabel... now rebranded as 'derisking'.. we are where we are..

I suspect Solgold are a bottom drawer share to them too these days.... happy to sit it on their books somewhere, gathering dust, until maybe one day its worth them doing something. But clearly not a priority, they moved their focus elsewhere a while ago.

No of course not... but there is no evidence anyone has even offered peanuts... there is no evidence of any buyer anywhere.

Add, If the result of the Strategic review, was to just continue to apply get more permits and keep progressing Cascabel, then the Strategic review was a giant waste of everyone's time.

In the world of junior exploration companies, a phrase like "reasonable prospects for eventual economic extraction" should have alarm bells ringing.

Barclays have held a strategy review... announced the results and started to implement it... we have been doing ours for 2 years... still no end in sight...

They are a business that operates In practically every major country around the world, almost 100,000 staff, covering practically every industry that exists, in multiple avenues of various banking services.

We are a very small business, in a single industry, with a very limited number of assets to review.. Its starting to seem like incompetence, or even worse, that we cant come to a conclusion.

We cant announce to shareholders the results of the review??.... Not actually move ahead and implement it... just announce the outcome... the chosen strategy to move forward with, after 2 years of careful review? After 2 years????

Cornerstone came on board, brashly claiming it’s been studied to death…. It doesn’t need any more studies…. We are gonna bring this to an end fast and smart.. Solgold are mine finders, not mine builders… we are holding a strategic review to explore monetisation options…. There has been a culture of non performance among previous management at Solgold.

Well 2 years later that strategic review has produced nothing… and has no end in sight… They have had 2 years, and still failed to monetise a single asset.

Why are we unable to monetise, any of what we have been told is the finest portfolio in Ecuador…. Why are we unable to enter a JV with any of them, despite being told numerous times over the years, we are looking for joint venture partners.. and there is lots of interest..

Solgold continues on the exact same path… continues as an exploration company, without any plans for any exploration, at any of its tenements. Without any money to explore anywhere.

So management plan is to wait for permits….. then just maybe… hopefully… we can sell it further down the road…. Keep talking about derisking… that’s nice and vague… and never mention the strategic review… it’s been a failure…. But we can’t admit that..

There seems to be no plan B to just waiting for the permits…. And then hoping someone will eventually want to buy it.

This has turned in to a punt, not an investment…. A true bottom drawer share.

Its just Jam tomorrow

May 2020