RE: RNS24 Nov 2021 21:25
In Autumn 2013 I initially bought SOLG on a friend’s tip @ circa 12p. And I’m still grateful to my friend for the tip. Since then, I’ve had my chances to sell much higher (and didn’t - which was a mistake in hindsight), and made another sizeable mistake buying a big chunk of my holding at 39p in Spring 2019 (again in hindsight). I’ve made a few successful trades (whilst holding core shares) but they were relatively small.
The apparent irony is that had I just sat on my 12p shares I would even now be circa 100% profit (although over 8 years, you could argue this return was meagre). As it is, I’m far from that. C’est La Vie ! It was all my choice.
I’ve always held because of the assets we have, and I continue to do so. But I do feel that our directors have in the main, let shareholders down (via the share price) through what appears to me to be complete indecision, a lack of clarity of prioritising/limiting your asset to do list - which has manifested itself by trying to bite off more than a small explorer can chew, a lack of urgency and vigour to create a can-do company, and a lack of sincere respect for smaller shareholders by not delivering good PR and keeping us regularly updated.
This has resulted in failed deadlines and uncertainty with the market understandably being cautious.
I do get that SOLG have created a solid footprint in Ecuador with such a high % of our employees being Ecuadorian - and that has been a huge positive - resulting in our very healthy relationship with the government.
I do hope our new CEO brings root and branch change for the better, providing fast-track deliverable timelines, and brings some vigour to this company ! Let’s GOT ON WITH IT !
(none of this negates my hope for a good bid or joint ventures !!).
gla
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