Member Info for RodneyT

Good afternoon addicknt

A number of other posters as well as myself have put forward the idea of BHP/NCM as 'producers' and all other shareholders being 'investors'. Based on current shareholdings, an 'external' offer found to be irresistible by the investors would leave the producers with the choice of either making a better offer or accepting it too - that's of course if there are working together. Whether they are or are not is beside the point. Having been significantly shaken 2021 to date, a well placed offer would be hard for the investors to resist. More the merrier of all those 60p share options are well in the money too. Just an idea! All the best.

Hello Adamsday and good afternoon. I completely agree. Please check my previous posts and you will see that I've given NM due respect for his achievements on our behalf. Give it time folks!

Had to smile at that RICH3R! You know, it's really good that we are all brothers/sisters/fellow sufferers here. For better or worse we keep going. Remember 31 March ladies and gents. Have a lovely weekend all and thank you for the debate. Always good to listen to the opinion of others. No need to be upset when we don't agree. Keep chatting. R

I understand your frustration RICH3R and of course we can agree to disagree on any topic including this one. Yes, NM continues to draw his salary as CEO. He's still in that role. Let's compare notes on 1 April, if not before. Perhaps you can convince me then - or vice versa? :-)

Good evening Fastjet,

I've never thought that Nick would want to just leaves things as they are and 'drift' into 31 March 2021. I find it startling how much negativity has been directed at NM. We all make mistakes and we all do better with the benefit of hindsight. Day to day, he's represented shareholders very well indeed over the years. On balance, yes, I believe that to be the case. To conclude, I believe something quite big could happen between now and 31 March. We shall see!

Let's see what happens RK. Too soon to write off the CEO just yet. Sure, things didn't go as we wanted them to of late. These things happen and in all facets of life. NM's still in that chair. He's a talented person whose record has my respect.

Good morning all.
NM is CEO of Solgold until 31 March 2021. He is a major shareholder in the company which has done very well since he took the top chair. I would hazard a guess to say NM is at least as wealthy as any of us on this board - he's a sucessful man who's had an excellent career (which is not over yet). NM has been quiet of late but that is not to say he has nothing to say or is not very busy in the background. Who knows what may happen between now and 31 March 2021 under his watch?

Many thanks Jezzoo. Could the devil be in the detail i.e. we're not at 31 March just yet and NM is still CEO until then? I fully understand Quady's points about PEA, NPV etc and one could also consider the stance taken by FN. My central position is to focus on the market i.e. the players and what they want. BHP/NCM - either or both together - want to mine SOLG's assets one would imagine. That's how they see making a strong recurring income for shareholders. Further, for BHP in particular, SOLG and its resources will be (at least at the start) a marginal play in their total business. Not so for ' the investors'. They are looking for profit rather than mines and there could be many out there who would be happy with, say, 90p rather than NPV or NPV+ all day long. That group perhaps has a different objective to 'the producers'.

Quady,
I respect your opinion in relation to what you believe the major shareholders might accept fir their shares. You may recall me referring to BHP/NCM as 'the producers'. I did this because they of course do produce at their other sites around the world and doubtless have the same in mind for Solgold's assets too. The other shareholders (including the other major shareholders) are not 'producers'. They are either explorers, fund managers or individual shareholders. With BHP/NCM at around 27.1% of the total shares in issuance, a 90p offer (as a guide only!) could credibly be accepted by the other 70+% of shareholders who, first and foremost, are looking for a good return on their investment rather than becoming a producer themselves. Of course NM has referred to SOLG becoming a producer many times but this is, after all, tantamount to very large game of poker is it not and spoofing is integral to that game as we know!

Good morning Smickster and thank you. I sense there is ' a number' that 'the non-producers' would accept leaving BHP/NCM to either bid more or accept too. Based on the recent past, I think NM could easily rekindle support from PIs if need be and the other major shareholders are doubtless interested in a good profit. I think we always have to factor in how business operates in other parts of the world. Not all credible buyers have the western style corporate protocols. Think SWFs and other state backed enterprises. Even where usual western protocols apply, bids can be countered as market price increases - a virtuous circle for the seller.I think we should also bear in mind that NM is CEO until 31 March. Why not factor in the time until then to let him speak as he wishes in due course?Put another way, let's not be too hasty at this moment coming to conclusions. There is nothing we can do now ourselves to change what has happened of late.

I was wondering what the law of England & Wales stipulates in relation to what percentage of share are needed in order to gain control of Solgold and/or lead to a position where BHP and/or NCM must either accept the bid or bid higher to seek approval from the Board. Also, not all potential buyers have 'Western Style' boards and shareholders to answer to.

Just supposing an offer for the whole company was received by the Board prior to 31 March 2021 of, say, 90p. Were that to occur when the share price was around current levels (and following such a sharp decline and other turbulence, do we think that the bulk of private investors would agree were the Board to recommend acceptance? Would Cornerstone and BlackRock agree? Would NM be happy with respect to his own holdings as well as the position for staff options? I guess Newcrest and BHP would not be keen to accept since they probably want to own the resources and push through to production. Some may say we have had the 'shock' referred to by NM already. Would such an offer, if made and then recommended/accepted be the 'awe' he referred to and what could BHP and Newcrest do, if anything to prevent it based on their current holdings? Would they be allowed to collude? This type of scenario and 'an offer few can refuse' could be a fitting finale to NM's career. What % of the share register would be needed to render BHP and NCM (the producers?) powerless to prevent this bid succeeding unless either/both(?) make a higher bid which itself is successful? As an aside, where is L Twigger (the Financier from the East) in this story?

Q, what do you think about starting with 'I don't agree' next time then going on to make your point? I don't think any of us are keen on so called 'cancel culture' and we also all know that just because we disagree with others does not mean we are necessarily right.

https://www.lse.co.uk/rns/IRR/change-of-registered-office-and-company-secretary-jvf9njwjm1v0qil.html

Karl moving on I see. Wonder where he's going? Will he stay with us for a while? Hope so.

:-) never heard that phrase before! I sense a softening up process so that imminent news ahead looks as good as possible! But who am I to know! Also, I always enjoy reference to The Curve! It reminds me of Franco's confidence in us.

I keep thinking about the Lassonde Curve and where Solgold might be on that. Heading towards the end of stage 3 ladies and gents??
https://kuchling.com/the-lassonde-curve-a-wild-ride/

I have always supported the Board and will continue to do so. The business is well run and has developed good relationships with its employees and the Ecuadorean Government. NM has negotiated well throughout on our behalf. I prefer the current Board to one parachuted in by others. Good luck NM and good luck Solgold. Just keep chipping away. A sparkling future lies ahead - for all of us.

Be patient everybody and even if you wholly disagree with another poster, please treat that person with respect. At the moment all we have is rumour. NM is a seasoned professional as are his colleagues and advisers. Give the company time to speak. Patience.

Nick Mather was appointed as CEO on 17 May 2015. Since then, the company's share price has increased by just under 900%. It's not been a straight line up a la Bernie Madoff but just under 900% is a good percentage I would say. Happy New Year to all.

Hear hear. Please everybody, please stick to Solgold and related matters. As a wise person told me years ago, just because someone disagrees with someone else doesn't mean to say they are right. Let's always treat eachother with respect.