Member Info for seanhunter

My big fear is BHP would be willing to stand back, watch us crash ourselves on the lunacy rocks of going into production and come to the "rescue" when we get in way over our heads. Bit of an ordeal to go through 5 more years of a stagnant or falling SP only to get snapped up in 2027 for 30p a share.

"Onto the next challenge, after I take some time to catch my breath!"

Read into that what you will....

The question was rhetoric Quady, based upon the other posts, and certainly not something I'd want - but it is a valid question given that we don't seem to have much direction or oomph at the present time.

But that you for a post that doesn't mention the diverse book.

If we really have become nothing more than a hugely expensive cash burning job creation scheme, why shouldn't the whole project be mothballed, trading halted and the share price suspended at 22p until we can find a buyer for the whole kit and caboodle?

What is gutting is that it took years for our "bottom" to climb up to the 25p mark.

To crash down through that shows what a mess the last couple of months have become. Was it incompetence or really deliberate? If deliberate it must be part of a cunning plan worthy of Badrick. We haven't even started spending money on the basic infrastructure we will need to go into production.

We all know what's coming next, the dreaded 19p level

Down into the 22s now.

I expect a placing at 20p too. This will pull the SP down to that level, then it's 19p from there.

It's just a shame SOLG has never offered access to giveaway placings to existing retail shareholders, but I'd pass on this one anyway.

To the new generation of SOLGERS who bought in over 30p and are now underwater, and to the ever loyal poor bloody infantry who once again held and didn't sell as we once more kissed 40p hello and goodbye, I'd like to apologise for being one of the loudest voices on here promoting the idea of an imminent bid. All I can say is, this time round, I really believed it. It was the right time, and the right position for us to be in - plus without one, ie. where we are now, just didn't make sense. Without a bid we are in limbo, with nothing to offer but more spending just to grind on month after month, or massive, massive dilution to start chasing the crazy dream of going into production. I know I didn't tell anyone to buy, or not to sell, but I still feel guilty. What makes it worse is I have no faith in the current team leading us, I just put all my hopes in a rescue that never came.

Hopefully not another self-harming RNS.

We are certainly paddling our own canoe. Unfortunately it's right up Sh*t Creek.

Agred. We aregoing nowhere fast. The daily fluctuations as we head back towards the dreaded 19p level are so tight you can't even trade this at the moment.

Quady you may have noticed that no one is queueing up to fund us, not for production and not even for short term survival. Banging on about the diverse book seems to be a comfort blanket for you but it has heehaw relevance.

I can't comment on the individual merits, many indeed boasting great track records, but it's clear the current lot have been in place long enough for any good they might have done and the cupboard is now bare. We seemed to have sleepwalked to where we are now which is incredible given the energy and sure sense of direction Solg showed as a young company. Sad times.

Tragic that we can be talking about a low ball bid of 50p in 2022 when scoffed at it in 2017 when 50p was worth a good deal more in real terms.

But we are not sinking. Just rudderless and becalmed with a BoD who are bereft of any realistic plan that anyone except Quady takes seriously.

Not seen these low levels since the Omicron panic last year, looks like the miserable nature of last weeks RNS is starting to sink in. Very hard to see any positives in our present predicament without a bid.

We are living in pretty weird times but the most astounding thing for me is all this pretending to be interested in women's football thing going on at the moment. Bizarre.

I assume its the latest incarnation of Slug but seriously why would someone dedicate their life to disrupting this board? We ain't that special. It's like the nutter who sits beside you on the bus...

Of course I meant $5 million not $5 billion, I do apologise.

It'll be $5 billion a month if Quady gets his way...

How the eff are we spending this much money each month now? Anyone want to venture a break down?

So Fort, a burn rate of $5million per month. This is turning into an expensive hobby.

MaasiveRay, I can't even take solice in the idea of trading this right now because it would be too easy to get locked in with a falling share price and absolutely no news ahead that would perk things up (apart of course from a bid, a hope for which I will remain invested).

But someone mentioned Sirius Minerials (SXX), another darling of these boards where paddling their own canoe ended badly. I made a few bob from SXX before moving on, but I was lucky. To quote The Telegraph:

"It was 2018 and a target of May 2021 had been set at its headquarters on the outskirts of Scarborough, Yorkshire. Pushed internally and highlighted to investors, the month was when the mining start-up hoped its nearby diggers would first hit the rich seam of polyhalite - a type of fertiliser - running deep underneath the North York Moors National Park.
It was an ambitious goal - six months ahead of its base case at the end of 2021. But it would be well worth it: marking a significant milestone and helping towards its singular goal of first commercial fertiliser production by mid-2024.
Both the May 2021 target and the less stretching end-of-year target have been and gone, with no polyhalite yet produced. In late 2019 Sirius Minerals ran out of money and was bought by FTSE 100 mining giant Anglo-American for £405m - a steep cut to its £1.8bn stock market value less than two years earlier."

A different case, a different company, a different set of circumstances, yes - but a cautionary tale nevertheless. I was also invested in KAZ, where after peaking at £10+ we were suddenly taken over at 750p without us smallfry having any say in the matter. I've made some stinker investments in my time, but I like to think I've learned something along the way.

Fortissimo, staff leaving just before they expect a bid to come in makes no sense whatsoever. Having another job quietly lined up in the background is a different matter, but there is no positive spin to put on any exits at the moment... unless it's a pre-condition set by a potential bidder.