Member Info for Quady

Morning rcgl2, what I find embarrassing is the number of people who have ticked up the Colonels post.
These people are clueless, why not ask the Colonel this question before recommending his post.

Please Colonel could you post your evidence to make the claim you do ?

Hi Mathersfinger I agree but there is always risk.
I will caveat this by saying this is very unlikely in my opinion.

We get slowed down in production, we don't get there quick enough and we need to continue drilling other sites.
The potential bidders observe what's happening and sit and wait for us to run out of money, and we get taken out for a low price.

I am in agreement with you, I hope you are saying 2 pounds for Alpala as although no value is attributed to our other tenements as we don't even have MRE's, Alpala is our only asset in the NPV figure.

I am just looking at the NPV of the PEA at around 30% and that by my calculation is around 45 pence a share at the moment and will change with PFS, as calculation will be different with higher material prices and hopefully a quicker and cheaper delivery.

All the best.

Good afternoon Mathersfinger, even I would take 2 pounds now, I suspect that NPV will be around the 2 pound a share mark at PFS, but don't expect the share price will be anywhere close, as we are not producing at the moment.
But you are right, we wait and see how this plays out.
There is always risk with any share, but I am in it for the long game.

Cadell yes It means they own 28% but by no means certain.
BHP have been clear about their intentions.
They want to have more exposure to certain commodities. Copper is on the list, however they are more than happy to joint own. BHP have always said so.

Morning Jerry , of course not. When I say fact and evidence, I mean fact and evidence.
You have some people on here saying it's a game of bluff and that Solgold and BHP are both telling lies.
Well if that is the case why do we listen to anything.
You get others that only believe what they want to hear and exclude everything else.

But if BHP says it will not overpay and Solgold says we are taking this to production, then I look at all the facts and evidence and I make my investment decisions on that basis.

As I have said many times, the most likely outcome is that Solgold take this to production based on the current facts and evidence, but if the balance of the book changes then I would reconsider.

For example if BHP acquired NCM's holding, I would think a bid was more likely.

Morning Eish, always good to remind people why BHP will not bid for Solgold, I have always said BHP will not overpay, and this is just BHP saying they won't overpay. ( they have been consistent down the years )
I believe BHP may be talking to us about JV's on our other 10 projects ( 20 tenements ), as that would make sense to me. But Alpala, Porvenir, Tandy and others, we will bring to fruition over time.
Not long to the PFS which should hopefully lift us above 35 pence a share, but we require the CFP, so that we can see the viability and timescales on Alpala. ( let's not forget this is big, and high grade in parts )

No Apology required Bozi, we have arrived at the right answer by everyone chipping in, this is what this chatroom is for.

Thank you Bozi, I am not after reinforcing my own world view. ( I think you know that ) When I am wrong i always admit it.
Please do investigate and publish your findings, as what we are both interested in is accuracy.

Many thanks.

Hopefully Bozi I am not guilty of only when it suits. I cannot read the link you have put up, as get an error saying server cannot communicate. At the moment I read it as long as any shareholder has a stake of over ten percent, then they can by choice, appoint a NED to the Solgold board.

Hi Bozi, sorry I disagree NCM was never part of a SSA, and both NCM and BHP can appoint a NED by holding ten percent. And have a non dilutive clause to maintain that director.

No addicknt we knows who's right because of evidence. Bozi provided the evidence, I just put it up so everyone could see. On everything else you have continued to be wrong because we have not had a bid, which you keep predicting. You continue to be wrong. Your latest is there will be a bid after the PFS is just as wrong, because you just say it and provide no evidence.

Let me help you out, because you are an ex CEO you know how companies work. I have met some truly awful CEO's who run big companies and had no idea, and met some good ones, who built companies up.
The good ones understand how to run a company for the interests of employees and shareholders. The bad ones only run it for the benefit of shareholders, and were usually removed within two years.

Addicnkt read it for yourself Bozi and BNC are correct.
Maybe your argument is just because it's right, doesn't mean it will always be right, as that seems to be your argument.
As you constantly argue just because Quady is right, doesn't mean he will continue to be right.

Have a read.

https://www.lse.co.uk/rns/SOLG/solgold-raises-16345m-at-45p-per-share-from-bhp-7ihc6qz8p3346xl.html

Thank you Bozi and BNC.

I could be wrong addicknt but can you provide evidence that NCM and BHP can no longer appoint a NED, I am aware that restrictions were lifted on BHP on 15th October 2020. But having a NED was not part of the restrictions which were lifted at the time.
However if you can provide evidence for that, I will happily concur.

Addicknt, NCM and BHP had the choice of appointing a NED, NCM took up the offer and later withdrew their man. BHP never took up the offer. As far as I know they could both appoint an NED if they wanted to, it was nothing to do with the standstill agreement. In fact some on this chatroom suggested that the reason they never appointed a NED was because at the end of standstill, they were going to bid for the company. So we don't know why BHP never appointed anyone. NCM may reappoint someone once we have a new CEO.

Hi Lunchmoney you are correct as mining articles quote 20-30% at PEA and 30-40% at PFS.
The reason I estimate 70% is those articles are about finds that need funding to production, and may struggle to get it.
I don't think that applies to Solgold, so I may be a little high but not by much.
I still see a good outcome for long term holders, as long as one company doesn't start buying up shares, but even that happening means an increase in the price, so that's why I am relaxed and can wait.

Morning Lunchmoney, yes I think you are right we can estimate a value, the reason I said we cannot put a value on Solgold is because it's a moving target.
So in the PEA we had gold at $1300 and copper at $3.30 a pound.
We have moved in price since then so the 3.3 billion pound NPV has moved but I think at 70% NPV ( which I know 30% is more typical at PEA level ) we get £1.50 a share on better gold and copper prices.

Now we have no idea what is going to be included in the PFS and the price of resources used, I know we have a shedload of Silver as well and this cannot be discounted.

I think we get a chance to put a price on Solgold if the PFS gives us the costs in detail.

All the best.

Addicknt I have never said because it hasn't happened, that it won't happen in the future, this is you pretending I have said that to support your world view.
When it comes to the diverse book argument, we can both agree that you don't get it.

Jerry you are falling into addicknts trap and asking non questions, that is questions that cannot be answered because you can never disprove anything.

The question you should ask, if you wish too, is how would BHP go about increasing it's share holding in Solgold should it wish too.
The diverse book has many strands to why we can defend and isn't the whole story.

But let's use addicknt's example to show his flawed argument.
If BHP offered 1 pound a share on Monday, would they acquire Solgold.
As in addicknt's statement he states he is in no doubt they could buy us at this level, even though he agrees with me that this would be cheap.
In short he just ignores the diverse book argument.

There is a good reason no one including BHP has not made a low ball bid of 1 pound, this is the workings of the diverse book.
Some people on here think they can put a value on Solgold. ( we can't )
However let's say that BHP bid 1 pound a share.
That means that CGP ( 7% ), NCM (14% ), NM ( through DGR and other influences controls 20% ) and other partners, would all need to say," look BHP have made a low ball offer let's sell all our shares cheap to BHP and obtain a truly awful deal for our shareholders".

The cooperate world doesn't work like that, unless they all have useless CEO's who will sell because they can't value an asset, and his BOD would have to be clueless as well.

The reason no bid has arisen for Solgold is simple. The diverse book means that any bid has to be reasonable, so that the main holders say yes we will take the money and 1 pound doesn't cut it now with the PEA, and certainly won't cut it after the PFS.

Colonel if memory serves me right, then the 50 million was an option we didn't take, and the the money we got was ring fenced to take Alpala to DFS.
It may be we have that and don't need the extra 50 million.
The CFP will be financed differently, and I believe less than a year to wait.