Member Info for seanhunter

Fair enough Bozi, I'll take your word for that and won't mention it again - and I apologise.

But my basic retort to all the negative things you are saying is - yes, you may be right, but we have paid the price. From the PFS release to now, we have gone from 37p to 17p. We've been punished. All the negatives are factored in. The casual buyer is not interested right now. major news allowed all the recent bargain hunters to escape with a 20% profit.

Yes, we are still in a hole. But we are in a much better position after this week to climb out of it. the Japanese interest - big news in itself - was completely drowned out by the merger news.

The days of hoping for a £1.36 or a £1 bid are behind us. LTHs need to get used to that. 50p is no longer lowball. It took us 5 years to get into this mess and we have only ourseves to blame. But there is still a huge upside to where we are. If we were just sitting at 30p I doubt you would be so concerned with the things that suddenly look life threatening at 17p.

I don't see a quick recovery, but I do see a 40p - 50p exit sometime fairly soon. Anything above that is gravy.

Bozi all the negative points you keep hammering away at are valid. That's why we are currently at 17p and not 37p like we were a few short weeks ago.

I'm pretty convinced you sold up recently hoping to get back in lower, but even taking you at face value, it's worth reminding you that all the current problems can be fixed and s has been pointed out CGP and the likes of Irwin would not have been up for a merger had we looked (behind the scenes) like we are going to crash and burn with no funding in a few weeks.

The only way is up from here.

This isn't the "market value" today by any means, we are just sitting in the sin bin for the dire performance of our board.

As I've said Tesla1 - there is a new narrative. "SOLG is now at market value".

You keep beating that drum mate.

Good post redknight1, and may I ay, sounding like your old self.

That's how I see yesterday too - a bit of over excitement from a few (particularly over on AVDN) who thought it'd be an instant jump to 28p, then a lot of selling at 21p, then a lot - an awful lot - of ATs yesterday steadily walking the price down.

But some big buyers in there getting bargains.

I note too - on this board and ADVN - that posters have crawled out of the woodwork to explain to us that we are now at "market value".

This merger is a huge development. As things start to move, expect some foul balls and dirty tricks, misinformation and manipulation - particularly in the form of SOLG "experts" who have never bothered to comment before.

There is a narrative being built - "SOLG is now at market value even with a sale of Cascabel so you might as well sell up now and go away".

You heard it here first.

schlemiel, spot on - I believe that is the route from here, and it is the only route that will reward us smaller shareholders without waiting for decades.

I expect no more talk about "going into production" - I've been calling out that nonsense for months.

I have next to zero faith in the BoD but they have 3 simple tasks ahead of them:

Merge quickly and painlessly
Raise a little bit of cash to survive for a few months
Sell Cascabel to the highest bidder

If we can jump through these hoops the poor bloody infantry will at last get some reward and the chance to continue our investing journey with SOLG as it further explores our Ecuador concessions.

This isn't the end, but hopefully the first big sale of our journey with many more to come.

We should have been here 4 years ago, but that's water under the bridge.

GLA

Tesla1

MCAP is currently £393million.

For what we've got that is undervalued as Cascabel is worth way more than that alone

The price the market is putting on the individual share price reflects our current situation re. funding and other issues - and the current price is STILL based on relatively low volume and a lot of automated trades.

Don't confuse uncertainty and hesitancy as "market value" in the absence of true, large buyers making a move.

When the share price was 37p just a few weeks ago - was that market value?

If so, it shows you that "market value" is a meaningless concept going forward - it is merey a snapshot of the sentiment of today.

Now that made me laugh Slug.

DaveTheHorse is on ADVN accusing us guys on here of being pump and dump merchants.

Hilarious given his own posts.

Those of us who've been in Solg for years and not sold at 40p are hardly in the pump and dump game.

No-one likes a shotgun wedding, but what really is the alternative at this stage?

We have no plan no cash, no inspired leadership
We have got to sell Cascabel, and the big boys want us to merge before they buy it.

We don't have the luxury of sniffing at it.

If this merger is rejected then its 4p here we come. Its our only way out of our current finance death spiral.

As noble as it is to turn.our noses up at what we think is beneath us, beggars can't be choosers. We've paddled our own canoe long enough and ended up up you know what creek.

Others may want to go down with the ship like gentlemen, but most of want what's possible not what we thought we'd get 5 years ago. This is the only way forward that doesn't end in bankruptcy. The merger is the price the big boys have set. If we don't pay that price now they will pick Solg up.off the floor for pennies.

Give this, say, a timeline of a year:

We merge with Cornerstone.
The dust settles.
We sell Cascabel alone to one of the big boys.

What price would we likely get for Cascabel?

Where would the cash go - into SOLGs coffers or straight to us in the form of a special dividend?

Once that is done, with Cascabel offloaded and the cash from the sale safely in our pockets, what value would SOLG have in terms of MCAP?

This is certainly what I'd like to see - Casabel sold, the cash going straight into our pockets (not held by SOLG as it may be discounted in the share price if all they are going to do is spend it eventually) and a leaner meaner SOLG emerging from the other site, exploring and developing our other concessions, fully cashed up and reverting to the explore--prove up-sell model of the early days. That way, we get some reward but the story can continue

Cornerstone have had a good deal ever since we got into bed with them. It was the biggest mistake we ever made and it has haunted and hindered us ever since, like a fat tick feeding off our blood. There was always going to be a price to pay. Let's hope the "merger" means we swallow them up and digest them, then forget they ever existed. And good riddance.

Cheers DBW

Apart from Nick... not sure what the connection is SAT2? Explain?

Yep... I'm still no fan of the man personally but Irwin is right. It's time to pull the sticking plaster off in one go and stop wasting time and money putting off what is inevitable.

We've had 5 or 6 completely wasted years now. Fine if you are on a salary, not so great if you are a shareholder.

Get Cascabel sold asap.

It may not be the first choice of those who thought they'd be getting a £1.32 payout one day, but that is never going to happen now - ad the sale of Cascabel will be transformative, both for us poor bloody infantry and for the leaner meaner SOLG going forward.

Get it done.

DBW the fly in the ointment for years has been Cornerstone.

We were always forced to say "If you want to do business with me, my annoying little brother has to be involved."

Talk about off putting.

Not sure what you are so bitter about Bozi - again I can only assume that you sold recently on the expectation it was going lower.

And yes, I hate dilution - but frankly if it's part of the endgame and not to pay for endless drilling (and certainly not going into production) and simply keeping 800 people employed - then I will swallow it, because whatever short term dilution we see it will be worth it if it leads to a sale.

And if there is no sale mate, it won't be Comedy Central, because we are screwed. Finished. Right back to the 2p you all fondly remember. Without a sale we are nothing but a cash burning exercise.

The big boys have had enough - they've told us to merge prior to a sale. As long as they follow those orders, our management are now redundant and we are on a pre-ordained path to a sale. Not the outcome many LTHs would have wanted, but we've screwed things up so badly in recent years that this is the best we can hope for - and it's not a bad outcome.

Zoros what alternative did we have? We were hitting the buffers in weeks. The BoD had no plan or direction, tge SP was heading to 5p.

THe big boys have knocked our heads together and told us what we need to do prior to a sale. The old SOLG has run its course, up a blind alley. This is the beginning of the endgame whether we like it or not.

Red don't forget all the recent buyers in at 15p getting out at a nice 20% profit. I see a strong close today as we settle in the 20s again.

At least we know what was behind the tree shake of the last 2 weeks.

Commiserations to those who were frightened into selling.

Hard cheese to the scum who stood on the sidelines gloating. You could have bought in at 13p - but no, "this has farther to fall".