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Ironically, SCR doesn't hedge because they don't want to miss out on any upside in gold prices, yet Nesis says $2,500 is nonsense, and he's worried it won't stay that high.

Some good posts on Telegram now and then. I'll copy the relevant ones in here if some poster's are not Telegram app users.

Posted on a Telegram channel today

Which is true?

Mr Maxim Nazimoc CFO June 11th 2024

“We still receive pretty numerous requests on where can I buy a large block of what used to be Polymetal and now Solidcore. So there's definitely an unfulfilled demand for stock”.

Mr Vitaly Nesis CEO September 5th 2024

"If you look at the situation in Astana now, the shares there are not worth much, but you have to understand that this is an objective reflection of the situation on AIX. There are few investors, few buyers, it is difficult for foreigners to enter here, many institutional investors simply do not want to spend time and resources to fully switch to the AIFC exchange”.

If that's the case because they no longer follow compliance laws and rules then this current stance management are relaying falls in line with what you outline. A company with no need to consider or consult the owners of the company. Just swashbuckling on without a care to follow old ways and rules.

Jon. The majority shareholder wants a bigger stake and the CEO is doing their bidding. If they listed on a dynamic exchange value would be realised hence the share price reflect fundamentals and the market would price out the majority shareholder.

Centamin valued at $1.95 a share. Solidcore at $3.20

Centamin Revenue $232 million. Solidcore revenue $1,140,000,000

Centamin EBITDA $106 million. Solidcore EBITDA $475 million

Centamin FCF $41 million. Solidcore FCF $240 million

According to Nesis, leaving the London Stock Exchange meant the company lost a significant amount of liquidity. "If you look at the situation in Astana now, the shares there are not worth much, but you have to understand that this is an objective reflection of the situation on AIX. There are few investors, few buyers, it is difficult for foreigners to enter here, many institutional investors simply do not want to spend time and resources to fully switch to the AIFC exchange. Therefore, unfortunately, the prospects for growth in the value of Solidcore Resources shares before returning to London are not very good. But I am sure that those investors who agree to stay with us for three to five years will be rewarded, which in English is called patient capital," says the head of Solidcore Resources.