Member Info for Ortherncopper

Newmont have essentially announced they are keeping their interest in Solgold..

Intend to divest six non-core assets including Éléonore, Musselwhite, Porcupine, CC&V, Akyem and Telfer, as well as two non-core projects including Havieron and Coffee.

Solgold they will keep.

Anyone still wanting Solgold to attempt to take this to production themselves needs to take a glance at how things are playing out at HZM.

Things might seem a bit crap here as we languish in single figures, but it’s a whole lot worse over there. Sympathies to anyone who may hold that stock.

Come on Scott and Bob, get that monetisation done..

Ship they don’t bother to reply to investors emails

I made the point last week we are long overdue a progress update/clarity on the review…. Even if it’s not the final outcome, shareholders deserve a progress update.

Just for comparison, Barclays, with a market capital of over 22bn, employing more than 80,000 people all over the world, servicing practically every industry globally began their strategic review in June/July last year and are due to announce its results this month..

Solgold, currently employing less than a dozen people, with a market cap of 200m and only focused on one small sector, have been labouring with theirs for over a year.. still silent, with no end in sight.. it’s unacceptable.. pitiful even.

No… it’s to the poster that just said they are not and never will be invested here

If you’re not invested here… and never will be… why are you spending time here?

Why are you reading and posting on this board? It’s kind of strange behaviour.

Are you drunk?

Absolutely no one over at DGR is saying ‘in Mather we trust’

Well solgold releasing its PFS has made the news screen on Bloomberg.. there’s a nice surprise..

I agree it looks like it’s been pushed out quickly after yesterdays collapse.. who releases this on a Friday?

And yes.. they have used higher metal prices to get the nicer numbers..

Let’s see what the experts say over the next couple of weeks..

No one on here knows anything HFH… you’re in good company.

The drop from 17p pretty much coincides with Scot repeatedly stating the strategic review has no end… that was the point the smart and financially shrewd bailed… presumably until there was some clarity.. If Solgold are not ready to announce the end of the strategic review, surely there is nothing stopping them announcing some progress, some direction or form it’s taking.

They could for example, announce they have taken the decision to sell off an asset, Porvenir say, to fund future company development, will begin the process of inviting discussions and simultaneously continue to work on the strategic review of the rest of the business portfolio..

Just an example, but the markets would see at least some clarity of thought, funding route and direction..

The absolute silence just screams malaise, lack of progress and doubts about managements ability to deliver.. The price today reflects this.

All eyes now on PFS… if it doesn’t deliver the big cost reductions, as promised, things could turn far worse.

Not much demand in places for a ‘chief or head of asset destruction’

Its a position only Solgold have implemented over the last couple of years, much to the major shareholders delight.

Share price collapse 20p to 6p in less than a year

Down nearly 40%, just since the new year

market capital to just 180 million

Remaining funds almost gone

Company mothballed

No stated end to the strategy review

Dropped from global MSCI index

Caldwell? paid over $500k for this!

And when he took over, he slated Solgold management as having a culture of non performance!!

There should be no alternative metals prices in the PFS… they should be as they were in the previous PFS.. the mining world is not stupid.. if we can only improve the IRR by using higher metal prices, then we haven’t made the investment case at all.

We need an IRR at least over 22% by improved, more efficient, phased mining plan.. as Scott has repeatedly promised. Using higher prices to get there will see any momentary share price improvement immediately sold off, as it’s understood as an attempt at massaging the numbers to fool people.

Scott’s had nearly half a million dollars for the last 12 months..

You could be Redknight after boasting about his t 20s and top ups

With the ongoing restructuring efforts described below, management expects current cash balances to last through June 2024. Management intends to raise financing prior to June 2024 in order to continue to advance its strategic objectives.

As at 31 December 2023, SolGold Plc (the “Company”) and its subsidiaries (the “Group”) had cash on hand of $12,835,344 and net current assets of $13,148,070. The Directors have reviewed the cash position and cash position forecast of the Group and the Company for the period to 31 March 2025 and consider it appropriate that the Group and the Company financial statements are prepared on the going concern basis. This basis contemplates the continuity of normal business activities and the realisation of assets and discharge of liabilities in the ordinary course of business, for the reasons set out below.

The Group has not generated revenues from operations in its history. Like many exploration and development companies, the Group raises finance for its exploration and appraisal activities in discrete tranches. Therefore, the ability of the Group to continue as a going concern depends on its ability to manage costs and secure additional financing within the next six months. Management’s cash flow forecasts show that the Group and the Company need to secure additional funding to continue their exploration and development programme and in order to continue to meet their obligations and liabilities as they fall due.

Don’t know if this has been reported but Solgold has been removed from the MSCI global small cap index.. due to drop in market capital making it ineligible..