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Is this an opportunity to get in on a dip??? Are the fundamentals there? Is this one of the largest discoveries at present. Is there more than likely more to come??? Yes there are risks! If you’ve not got the ‘Cojones’ you shouldn’t be investing in shares.
SolGold plc
("SolGold" or the "Company")
Response to Share Price Activity
Following media reports in Ecuador regarding a potential referendum on mining in the province in which SolGold's Cascabel project is located, the Board of SolGold wishes to provide clarity on the situation.
Under Ecuadorean law individuals are legally allowed to put forward petitions to the Constitutional Court for the inclusion of specific questions in a future vote. If that question is viewed as valid and constitutionally legal by the Constitutional Court the next phase is for the petitioning party to gain 10% of the signatures of the voting population of the provinces involved.
A public hearing is being held on 5 June 2019 where the Court will receive both arguments from the originator and the counter arguments from interested parties who oppose the validity of the question to determine whether the question regarding the future of mining is valid and constitutionally legal.
Following the process with the Constitutional Court the question must be approved by the Electoral Council in order to be included on future ballot papers for the provinces specified.
With strong support from the government, the international mining community operating in Ecuador and local communities, SolGold does not expect approval to be forthcoming from either the electorate or the Court.
There has been no indication from the Ecuadorean government that SolGold's tenure is at risk. The Cascabel project is a key project in Ecuador's developing mining industry and a critical driver for the future of Ecuador's economy. SolGold continues to receive full and objective support from the Ecuadorean government.
SolGold recently announced findings from its Preliminary Economic Assessment (PEA) for the Alpala deposit in the Cascabel project in Northern Ecuador. The project indicated approximately US$17bn (at US$3.30/lb copper price and US$1,300oz gold price) in taxes, royalties and profit shares to the government and peoples of Ecuador. SolGold is committed to building an integrated explorer, appraiser and miner in the copper industry in Ecuador, and enjoys the support of two of its major shareholders, Newcrest and BHP
The Company currently employs approximately 500 Ecuadoreans, and its staff is 97% Ecuadorean. The project will provide substantial and ongoing support for local, and a variety of, Ecuadorean industries and companies, and provide a platform for growth in the GDP of Ecuador. SolGold aims to replicate this project on other locations thought the country as part of its plan to create an intergenerational company in Ecuador.
All lining up well. I must admit I thought we would get a better market reaction to the PEA but I guess it’s not really anything other than what we were all expecting. Why the bottom dwellers seem to take do much pleasure in goading people I do not know. If you are in it for the long game it is what it is. If your in it for a quick trade then ide say you would be better off sticking to the ftse100. But please don’t encourage them out from under their rocks....
It’s like,’ oh no! they’re saying really bad things, I better sell all my shares quick!’ NOT. I frankly don’t care what they say as I have them all filtered, but the board gets full of people answering them back! I like to see useful info. They get off on the replies. CRAZY SAD LONELY PEOPLE!!!
Directors should earn their money, not use our money!!!! But I’m thinking the same thing!!! Dick Turpin would be proud of this bunch!!!!
So they sell the majority of the company. The company we all have a ‘share’ of! They then have a lot of money in the bank. Money which we own a ‘share’ of. What are they going to do with our money????? They could start by giving some back to cover my massive losses!!!!!! But come on all you in the know. How are they going to grow this company with our money they now have in the bank?? When will we find out what’s next? I have no option but to hold.
Can you explain, does it mean So if the shares reach the price the employees are allowed to buy the allotted shares?? Or do they already own the shares and can sell them when the stock reaches the exercisable price??
Glad I dumped my second tranche at 1.10. 60% loss but it was reinvested in a better prospect. (Solgold). As for my other 30k worth now just over 6k, I’m gonna put em in the back of the cupboard, who knows what’s gonna happen???
never Be happy with this bunch of amateurs. Locked in due to massive losses, already taken a five figure loss and sold a large portion of my shares. Still holding but come on , be honest, is anyone HAPPY in this share?????
Rats deserting a sinking ship. Don’t think I’m gonna get to my over £5 average this time. Massive losses getting even bigger. I’m resigned to my £30k going down the pan. What a bunch of tw4ts....