Member Info for Quady

Scrat, may I suggest we wait and see the outcome of the PFS, and see what the new NPV is, and the revised payback period, and see if Ingo can raise the finance to go this alone. A JV isn't the panacea that people think it is. It brings in issues like conflicts, on who is running the project. We have waited this long, and we have trusted NM to get us this far. A CFP will put all us PI's in a stronger position.

Well said Scrat, like me you are a true investor, you don't let age and personal circumstances cloud your judgement, you look at the situation and assess it for yourself. I like your analogy. Post ticked up.

Good morning Iceberg and Waksayama, if you check my posting history, on the 16th December, the day before the AGM. I correctly predicted today's response, by the let's sell it cheap brigade. I said no matter what the outcome of the AGM, that they would twist it, into we need to sell it cheap. Yes NM was elected. But the people on here with little experience of what a diverse book means, have no concept of what happened yesterday. The largest part of our defence, is not having share holders that support the board. It's having the widest amount of shareholders that don't own a controlling interest, so that they don't run the company, but it's left to the CEO and the BOD.
So today's argument is that people want Solgold sold off to personally feather their nests at a cheap price, and NM is a failure for not doing what aging distressed share holders want. Can anyone give me an example, where the CEO changes strategy to build a truly international company, and sells it off cheap, just because aging distressed shareholders say so.
I have read some real rubbish this morning.
The company, now needs to make sure, that BHP , NCM and CGP, don't take part in any more issues, as part of our defence. We tested the resolve of Solgold share holders yesterday, and we gave NM and the board our backing. So now we need new partners on board who will strengthen NM's position, and the majority of the share holder register.

After today my strategy would be, if we issue new shares, offer them to DGR and Tenstar, and if the directors want to buy some more with their own money, that is fine by me.

I think you are correct Colonel, we will diversify the book further, maybe with the Chinese, Rio and Barrick and others, making a bid even less likely.
This can and will be defended.
So next news is PFS, and then an update hopefully for the CFP.

Jerry there cannot be an EGM this year, as first CGP have to announce one, and they don't have enough days notice for it to be this year.
The EGM will never be held.
It was a rouse.

Hello smickster.
We are going to continue to prove up our other tenements, so as NM says, we will have limited dilution.
However we can give the shares to parties that support the BOD's decisions, maybe with a lock in.
So we will strengthen our defence.
I cannot see Solgold issuing more shares to NCM,CGP or BHP.
However I can see the Chinese getting a further foothold.
Some of the largest mines in the world, are owned by majors who own a percentage.
BHP and NCM and CGP own a percentage, that's all they are getting.

Woody it is 10%, as 20% didn't vote, so from an analysis of the vote, you cannot argue, that it's a 5% swing, as to do that, you must assume that the 20% would not vote again, and that everyone who voted, would vote again and vote the same, and that 5% of the people who voted for NM would change their mind.
By the next AGM, the diverse book will be more diverse, not less, so this is the worst result NM will have.

WoodyB, let me pose you a question.
You say who is going to finance this now.
Nothing has changed, NM and the current BOD are still in charge, and the money will be lent on the fundamentals .
Are you trying to tell me, that because NM was elected and the BOD returned and we are increasing the value of Solgold, that lenders, who would have previously going to lend us the money, will say no.

Shipright, that would be so funny, however you raise an interesting point.
How about a RNS from CGP, saying we have changed our minds about calling an EGM.

Iceberg is correct PI's total shares is 14%.

Afternoon Grundles, you sum up the situation well.
HOWEVER:

NCM has got off the fence and publicly declared they want to increase their percentage. ( not sell )
BHP have not declared.
CGP better start working out how to get their 15% of construction costs, otherwise we end up owning 100% of ENSA.
NCM, BHP and CGP are not all working in concert, they are in competition with each other.
I used to think, that if we didn't get an agreed price to buy us out, then we may have to defend a hostile bid.
I have been thinking that a hostile bid is less likely, because of the reasons above.
The bid would have to be large.
So I believe the big players will have to be happy with what they have, unless they want to consolidate other shareholdings or buy on the open market.
Bring it on, we are defended.

Good afternoon BNC, exactly, as I said right from the word go, we were never going to have an EGM.
Our position only gets stronger from this day forward, unless someone who want's to bid for us, starts buying in the open market, or acquires someone else's shares en masse, to build a position.
Sounds expensive to me.

Well said Pinot, and what's more our influence will increase, as time goes on.
Even if someone buys CGP, it doesn't alter the arithmetic, as I believe they voted against NM staying.

Hi Zoros, we just had the are we taking it to production poll.
55% support taking this to production by supporting NM
45% want this sold, by not supporting NM.

Kithob, we have to bring in more interested parties to dilute BHP and CGP and NCM, this will be done during the following year, I don't know when we get close to full value.
What i do know, is that a PFS, DFS, and CFP, and starting the construction of Alpala, is only going to increase our net worth.
Then consider getting PEA's on one or two of our other prospects.
Real value comes in 5 years time.
It's a waiting game now.

Did I not say, that the sell us cheap crowd, would turn the AGM votes into proof that we had a bid coming.
Unbelievable.
Still it matters not, as Solgld will very different company in a years time with NM at the helm.
Well done to everyone that voted to keep NM in situ.

Hi rcgl2, that's not the way I read it, surely we can bring in new partners and issue shares just to them, I agree that the disapplied pre-emption rights, make this a little more complicated, but maybe that's the reason to have an EGM at 14 days notice is important. ( I realize that's a standard resolution )
So we can authorize in that way.
This is a total success for NM.

Iceberg and Colonel, you are on the money, yes more shares issued for exploration, at a higher price, but none offered to CGP, NCM or BHP, so more dilution for them, and a more diverse book for us, with shareholders that back NM.
I do disagree that we will get a hostile bid, as they now know this can be defended.
Only way forward for a bid, is either consolidation, or buying on the open market.
OUCH !! that sounds expensive for the majors.
So in the next year, we get the PFS, DFS , start construction of Alpala, Prove up other sites, maybe the start of some PEA's to add value to the Solgold story, and thus make a 2 pound bid look cheap.

Scoutt the removal of NM has failed, we will not offer any more shares to CGP, NCM or BHP in further issues, the book will become more diverse, and the margin will be wider in favour of NM next year.