Member Info for Ortherncopper

You could Scott ask some very simple questions..

Can you explain how a successful business can continue endlessly without a defined, chosen strategy??

Does he have the intellect to understand that telling the markets the business will continue to coast along without a strategy for an undetermined amount of time, is not a good for any business... and does not show any competence.

Given the parties that may be involved in buying Cascabel or Solgold have far more mining experience than we do, why do we need another, new PFS to show them the best way to progress it?

Does he understand that since he first mentioned holding the Cornerstone shares, as a way of having 30million dollars of funding available if needed... those funds have now halved in value?

What price does he think he could get for them if he needed to sell them next week ,or the week after, or in 2 months time, if the price continues to bleed away?

He knows he is unemployed come December... and he will take a nice big payment as he leaves...

Good job Scott!! your worthy of a job at UKOG when you are shown the door here..

Yes it is possible there have been no sincere interests in a sale or JV.. of it is.

All the talk has only ever been hints at potential interest… Just like any estate agent will tell you there has been lots of interest recently… in the house that has been for sale for 2 years….. simply because someone glanced at its picture on the wall in the office while they were looking for something else…..

Someone signing an NDA to access the data room, can be spoken of as strong interest in our asset…. However signing an NDA Is relatively meaningless… doesn’t mean any offer will be made.

I have no doubts lots have signed it, and looked at the data… after all Solgold have said there were multiple parties doing due diligence for JVs almost 2 years ago. the question is why no one ever commits.. what do they see? That we don’t?

I wonder what qualification criteria there are, if any are needed, to get that data… one could suppose as shareholders we should also have access to it…

Solgold should not have to hire PR and communication agencies… we should just have a CEO who is capable and able to communicate during interviews and presentations, without sounding like a poorly trained used car salesman, fumbling around for generic niceties that don’t answer the questions being asked…

He is being paid 200k a year to just be a caretaker until it’s all over… a well paid useful idiot if you like… the very least I’d expect is an ability to project and promote..

I thought Chris Stackhouse actually came across quite well during the presentation. When asked a question, or to give clarity, he answered in a capable way with actual information that was pertinent to what was asked… a high bar indeed..

It highlighted Scott’s poor level of ability to confidently address issues that were asked… instead we got the kind of fluffed responses I’d expect from a low level junior politician.. just speaking in the most general terms, keep repeating the same anecdotes about being able to walk to the office, or mentioning a new phased approach… even if that is not what was asked… and always coming across as shifty…

The market hears talk of aiming for a release/update around Q1 2024… and due to Solgolds track record, probably automatically assume that means MAYBE Q2…

What can our board point to if asked how they spent the 50 million Osisko money? What a waste…

Even the 16p Jianxi bought in at… at a market discount at the time… seems like a long way back now.. what a waste.

We have had industry professionals say its only borderline economically viable... Crux... and we all chose to just hope they were wrong.. That turned out well...

that's on us

But Scotts performance, as someone that is just there to front the company until the really important people behind the scenes try to monetise a way out of the mess, has been nothing short of an abject failure!! Good job Scott!!

Add, maybe we do…. But Scott is no saviour… he is just the sap that has to front out any PR while the people behind the scenes try to flog it… he has to say whatever he thinks will sound good and point to minor things as big accomplishments until it comes to a close… he is just a caretaker until the Solg story splutters to an end

We hit 40p off an exploration hit at Porvenir… we have no such catalyst anymore as we are mothballed with no exploration, in the hope of a firesale.. so without a very successful sale, we will not see 40p again

If solgold are still around in 2025 and focused on Cascabel, the share price will be single digits….

We will have had to print hundreds of millions of more shares simply to stay mothballed.. we would still have spending commitments of over 400 million dollars across the portfolio.. and even if we hand a chunk back, as we are incapable of JV ing them, there are financial penalty clauses to relinquish, that we can’t afford.

And at a single digit share price, our market capital would not be capable of getting the credit lines needed to develop…. Or paddle our own canoe…

It’s firesale or bust now…. Scott knows it, Sangha knows it, Irwin knows it… the best we can hope for is competing bids whenever it happens…

Simply because a sale of some sort will have to happen at some point… Solgold simply can’t continue.. and it will probably be above 12p…

But it will be vastly below what we all expected circa 12-18 months ago… certainly nowhere near Redramps long touted £1-£2

I’m not selling out at this price… it is what it is now..

but I do blame only myself for not selling up long ago… the lost opportunity cost of holding here over the years is a painful lesson

Bozi, I sold circa 20% of my holding on the day of the PFS, as it came with no supporting plan or strategy of how it would be funded/progressed….

How I dearly wish I’d sold the lot and walked away from Solg..

I don’t know who said it, but the quote of investing in good management not the asset, has never been so apt here…

Sharket… that is also how I see it.. we are in a desperate state now..

We have had the for sale sign out for so long.. and our management seemingly can’t close any deals… despite claiming to have the best tier 1 discovery.. despite the supposed oncoming copper crunch, they can’t close a deal, they can’t sell it..

We have been attempting to do a JV for the regionals for even longer… and our management can’t close any deal… I still remember Twigger many, many moons ago, at a presentation/Q and A, almost pleading with any interested parties to come forward… and that was over 6 months after Solgold had claimed to have several parties conducting due diligence for potential JVs…. Now it’s Scott hoping someone may step forward..

It’s time our management we’re held to account and made to explain why they have failed to monetise anything for the last 3 years.. Scott’s vague fob offs and talks of open ended Strategic reviews are now unacceptable..

With regard to the monetisation or sale of any asset at this stage.. you have to ask, why would any major move now?? Why should they?

Every man and his dog knows that even in a mothballed state, we run out of cash in 6 months… know that all we have as back up are the cornerstone shares.. which are devaluing with every passing month, and will continue to devalue as we run further out of funds… we become more desperate… we have no option but to hope someone will buy at some point.. or we will have to print hundreds of millions of more shares.. at a discount to the then market price… and every major knows that..

We have telegraphed to everyone that we are no longer exploring anything, anywhere, or have any plans to do so… in order to save cash while we try to sell up.. we are now over a barrel, we are not in any position of strength.. it will be a fire sale..

If anyone can point me to a successful business, just a single one, that shut all operations down, in favour of just hoping someone would buy them out… and it was successful strategy, I’d love to hear it..

Now Solgold are talking about Q1 for a new PFS… we know how Solgolds timelines work out..

What is it about the asset or the management that has led to consistent failure to progress or monetise?…

I’m opening a big bottle of a stiff drink…. What a mess

Mather said the same spiel 5 years ago..

I'm not so sure he did Add... but then that's just a difference of ones perception I guess..

These presentations and then Q and A , are a bit like being interviewed on ITV breakfast television... its just a presenter, grateful for the opportunity.. so desperate to please them.... We never get any host willing to pin them down, and dig down in to their response..

I would love to see Scott grilled as to how on earth a Strategic Review can be open ended... why? All this talk of lots of tenements, takes time etc is just Bluff., vague nonsense.. giant multinational conglomerates, with different industries al over the world, employing tens of thousands, could hold a strategic review in less time than Solgold... We are a tiny exploration company... or used to be an exploration company.... please, just explain the reasoning of how it takes so long... give facts... give examples...

I also got the impression the Saudi bunch are nowhere near this... but id love to be wrong

Listening to Scott is like listening to a used car salesman, who just tries to blag his way around any questions... and just repeats the same information over and over again, changing a few words here and there, to try to sound like he said something different... greasy snake oil salesman

Scott on the other hand.... all bluff, broken record and no substance...

First impressions of Chris seem positive... I like him... non of the snake oil salesman bluffer there in my opinion

‘Employment expenses increased by 5.18 million dollars as a result of one time redundancies’

WOW…

We would have been better off by not bothering with Scott’s efficiencies

Another video presentation this afternoon… joy.

Doesn’t that perfectly highlight another poor performance this year DM?… That we are in the same situation, despite a Strategic Review process to try to monetise a supposed best deposit found in the last decade..

I’m not so sure about Scott and Maxit…. Scott was almost having to ask would be buyers to come forward at the end of his presentation the other day..

Slug, if they are sold cheaply to our oriental friends, we run out of cash even sooner…. And get out the begging bowl again a few months later… at what price then???

They don’t need to rush any more than BHP or anyone else does… they can sit us out just as easily, knowing they can pick us up at any time of their choosing if they so wish.