Member Info for Ortherncopper

‘soon thereafter' is the new imminent.

Anyone that still expects our management to deliver anything to schedule is ignoring the track record of the last 4-5 years.

I have also received a reply this morning.

'As a reminder, we have stated that the strategic review is a top priority and evaluating and pursuing value enhancing opportunities for the Company such as:

evaluating financing alternatives for the Company that endorse project value;
a spin-out of assets, other than the Cascabel project, to all shareholders;
the direct or indirect sale of an interest in the Cascabel project at prices that endorse project value; or
any other transaction or series of related transactions.


I also would like to point out that the Company has completed two financings since announcing the strategic review, which is the first point above'

was the main content of his mail.

That , right there.... is exactly my concern.. I think we are all going to be disappointed/underwhelmed with any monetisation deal. Certainly anyone who still thinks the price is going over 50p or towards a £1.

I'm going to stop shaving and washing until the strategic review is completed and released.

I did contact IR regarding when it actually started.... I was ignored..

Has anyone seen anywhere, where it states the SR has actually started? or when it started?

id got used to slow and stupid....

Anyone invested in Solgold over the years know they never meet their deadlines... nothing new... to be expected.

‘ Nick was sufficiently disliked (in part because of his lack of a particular type of competence) ’

Anyone care to guess what particular type of competence?

You could also ask, Why do a royalty deal, reducing future profitability, if you are about to try to sell the company?

I agree the metal prices may have impacted, and agree with the read across to Cascabel PFS addendum… but there is the rub… if the finances of our studies only stand up with high metal prices, then the finances of the mines are not overly compelling… our PFS didn’t exactly blow everyone away with its potential returns…

Back to waiting for news..

I saw that as a hint at a delay…. Solg never do anything on time, so probably best to expect Feb…. But what’s a week or 2 in the grand scheme of things ?

Thing is DM, I think it’s safe to assume the Porv study has disappointed…

Our board went very very quiet on the Porvenir front a long time ago.. All positive comments that had once flowed there, ceased waaay back... The PEA was due to be released right at the point it was shelved, even Investor relations were continuing to express the plan was to release it when I asked If it was on schedule, so one would have to assume it was all but completed and the work paid for…. If there was anything positive to give to the markets, it would have not been canned.

Despite people on here fantasising that our board may be strategically holding back good news, Solg have NEVER held back positive news, and why would they when the share price is on its knees.

We are, where we are now… there is no point in dressing it up or trying to see it through rose tinted glasses.. we are just drifting, hoping, or praying, Maxit can fix it all by monetising our only proven asset.. it’s a sad place to have found ourselves after all the years of hype and bluster. We’ve given Bob the paddle to our canoe after we got stranded, trying to bluff the mining world we could become the next supermajor on our own.. I hope he can get us a result.

We are not producing any, We are not doing any exploration, we have no current plans to do any further exploration.

We have essentially shut down all operations until further notice… meaning beyond the long hoped for monetising event, we have nothing to offer any potential investors. We are just sat hoping, praying, Bob will deliver something for us… that is not a strong case for anyone to buy our shares.

It currently seems like this share will never see north of 20p again until Bob, hopefully gives us good news. There are no other price elevating news events on our horizon. So we just drift..

The idea that a business that has no current income, that has never made a profit, never paid any dividend, that regularly has to do cash raises to continue as a going concern, would spend it’s available funds on a buyback, is absolute madness.

For years after year, we have been told ‘we have first mover advantage’ or we have the largest tenement collection in unexplored Ecuador, that we were the envy of everyone wanting to take part in Ecuadors burgeoning mineral exploration…. Yet we couldn’t get anyone to join us in a JV of any of them.. after all this time.

‘If anything is even happening’

Well we certainly needed funds to progress Cascabel.

I’m just not sold on a royalty deal that immediately make any JV, if that’s what you believe will happen, less profitable, were the intelligent way forward.

I accept the First Franco deal, but the more that are done, the more we erode any IRR for Cascabel and essentially devalue the asset going forward.

How long is it since our board announced an intention to at least try to JV some of the regionals?

We have heard absolutely nothing of any progress on this issue for too long. Given we have had Zero investor communication, I can only assume our attempts came to nothing and we were never informed.

Our board’s communication have left us all unsure and just guessing about what is happening, if angry is even happening except the review … and if we are guessing, others in the markets are just guessing too, making us a difficult share to buy in to..

Morning… I think everyone will be happier when all this comes to a close.. maybe not overly happy with the final price…. Especially those with averages in the 20-30p range that have faithfully held for years… But happy it’s all finally come to some conclusion… if indeed there is any bid.

If there is a bid teased out by Maxit, I can’t see any opening bid being more than 100% premium to the share price on the day.. but let’s hope I’m wrong.

And with regards to BHP or NCM etc, I don’t for minute think they care for percentage returns on their investments in Solg.. they were taken as a foot in the door, in order to take the asset if they choose to… they either still want it, or they don’t… in their world, their investment in Solg is pennies… they will not be concerned about wanting an extra 10p on the eventual take out price, or what that price relates to their current average, if it’s not them taking it out.

On a separate note, I’ve always found the decision to do a royalty deal with Osisko, just before trying to sell or monetise the asset, very strange.. The idea of knowingly, slicing off a further percentage of future profitability before you try to sell it seems nonsensical…. But then our board have made lots of bad decisions handling this asset… I chalk that up as just another

That 16p placement is gonna be what Maxit or anyone else measures any outcome against… that was a cut price placement level that illustrated quite well, the lack of interested parties out there for Solgold these days…

Even IF Maxit could engineer a triple priced buyout from here, it would only see a 48p final price… they will see that as a fantastic achievement… a sale at triple the price…… but for long term holders, it’s quite a painful lesson in the hype of an asset, against reality, and shows how poorly our asset has been handled over the years by our management…. I think I’ll now be quite happy/relieved to exit if we ever get to mid 30s again.