Member Info for SharketMare

We have the Porvenir permit from the Ministry of Energy and Mines but not from the Ministry for the Environment. Therefore it is not "fully permitted" and SOLG has not released an RNS. This is from Sean Tufford.

Folks, our paymasters (Franco and Osisko) want to see us develop Cascabel. Our lean management team have to focus on developing Cascabel to 1) unlock funding to keep us in business 2) move us closer towards the exit they all want.

The regionals are not in play here IMO. Unless a bid is tabled from out of the blue, this is one to forget about while we do the boring stuff and tick boxes.

1984 regards your 17.53 post y'day - it's a silly suggestion because if you watch Scott's interview post landing the 750m, he indicates that the company is going to be getting on with the dull but important operational work for the time being. Copper deal is definitely in play at some point down the line, but this is an incredibly lean corporate mgmt team that is having to go about rehiring half the staff they sacked when they thought they could sell this asset fast and smart. As NotMuchMoney said the other day, DC is laughing because we are literally pursuing the strategy he set out - advancing and derisking while remaining open to the possibility of a bid. Sadly we have wasted years and god knows how much resource fannying about with boardroom squabbles, though we did at least consolidate ownership of Cascabel over that time.

I agree with you though that the SR was and is a total nonsense. The company has a clearly defined strategy now which is to advance and derisk Cascabel while waiting for a bid. The reason we haven't announced that the SR has concluded is to allow mgmt to save face (they have no other cards to play).

Add, here you go:

"Documents filed to the Federal Court by Mr Cuzzubbo claim he was terminated amid a factional struggle within the SolGold boardroom over whether to swiftly sell or develop the company’s flagship asset: Ecuador’s Cascabel copper and gold project.

The court documents say Mr Cuzzubbo had approval from the SolGold board to pursue a strategy to build, fund and own a mine at Cascabel that would produce about as much copper as Olympic Dam at a cost of about $US2.7 billion.

Mr Cuzzubbo’s strategy was to “remain open” to a compelling offer, but not pursue a sale at all costs.

His claim suggests there was a “competing strategy” pushed by some, including SolGold director and substantial shareholder Nick Mather, to reduce investment in the project and maximise the prospect of selling Cascabel."

From AFR, Dec '23: https://www.afr.com/companies/mining/sacked-ceo-sues-solgold-for-breach-of-contract-20231212-p5equr

Redknight, the idea that the company is going to land a $900m streaming deal "imminently" as you suggested yesterday is silly even by your standards.

Quite right Fort.

We didn't sign the CIPA at PDAC. We signed a non-binding commitment to signing a revised IPA at some point in the future.

Vucic was paid $46,664 by SOLG last year. I'm not expecting much of a return. And the SR is meaningless. It's a tool that's been used to buy time. There is simply no way a genuine strategic review of a business our size would take this long.

Didn't you just have a meeting with Scott, after which you were ramptastic and singing his praises? What's changed?

On the topic of DGR, their latest filing contains the below:

"Loan 1:On 16 December 2021, DGR Global Limited (DGR) entered into a loan agreement with Equities First Holdings LLC (EFH). EFH advanced £1,679,302 (GBP) equivalent to AUD 3,116,862.12 to DGR. The loan is secured by 12,000,000 ordinary shares held by DGR in Atlantic Lithium Limited. The loan bears interest at 3.5% per annum and is repayable on 16 December 2024.

Loan 2:On 21 September 2023, DGR Global Limited (DGR) entered into a loan agreement with Equities First Holdings LLC (EFH). EFH advanced £911,121 (GBP) to DGR. The loan is secured by 15,000,000 ordinary shares held by DGR in SolGold plc. The loan bears interest at 3.75% per annum and is repayable on 21 September 2025.

Loan 3: On 17 January 2024, DGR Global Limited (DGR) entered into a loan agreement with Choice Investments (Dubbo) Pty Ltd. Choice advanced $5 million to DGR. The loan is secured by DGR assets. The loan bears interest at 20% per annum and is repayable on 30 November 2024. "

-The ALL shares listed in loan 1 are worth £1.8m (at 0.15p/share) and the loan value is £1.58m. No idea where the floor for that share price is at the moment after Ghanaian parliament delayed ratification

-Where the hell is Mather finding $5m from to repay Loan 3...

BBG, it must be stressful living inside that paranoid mind of yours. Can you point me to the social media smear campaign you refer to in another post? Maxit/Sangha are heavily incentivised to deliver a positive outcome for shareholders here. They stand to profit handsomely from an exit so to suggest they might be bad actors is for the birds.

Mathers, I thought gold might have been a safe haven this morning and loaded up with CEY at 119p. Fat lot of good that did me. Hopefully performs well over the mid term.

"we could set up a make shift prison on an ex army or RAF base and use the military to guard them"

Is there any problem you can't solve, Quady?

It's not a misinterpretation at all, he literally said: "Please... forward any names you may have" . If that isn't "asking people for recommendations" as I previously stated then I don't know what is. I don't really see any harm in it being totally honest, but I do question whether it's how a £300m MCAP company should be operating. We have gone from £400k/year Fawzi to hiring a contractor whose primary job is sorting out the IR customer database, and isn't privy to conversations with current or potential investors. There's probably a happy medium between these two which is where a company of our size and ambition should be looking to hire.

Sean seems like a really nice guy. Would I want him sat opposite BHP or NMM batting for SOLG? Probably not.

Sean Tufford knows little more than the rest of us. He is not an insider, and is given the heads up about RNS releases a few hours before they land and when the market is closed. He is currently approaching various funds, including some of the sovereign wealth funds mentioned below, to generate interest in SOLG. In fact, just yesterday he asked people on the Telegram group for recommendations on who he should get in touch with. It's certainly a novel and modern approach to 'investor relations'...

If he sells to BHP/NMM he will have shafted the PIs he's claimed to be acting in the interest of all these years in an unforgivable way. The Chinese make most sense.. but at what price?

Addicnkt @ 7.24 - were those valuations correct as of yesterday? Atlantic has fallen back a bit due to the Ghanaian parliament dragging its heels over ratifying their mining lease. What are the chances of Mather selling his stake here as a block to a strategic? And at what price? You're right in that something has to give for him to keep the lights on there.

Affrm, you are shaping up to be the Jim Cramer of SOLG. Can you predict the share price tanking please. TIA.

Fair enough, looking at where else you're posting - PREM, LND etc. I'm arguably more convinced you're someone who is just around to make a quick buck in volatile stocks.

Probably time for me to take some time away until Solg is back to its sleepy self. Atb

Affrm, I don't think you are BBG. But to suggest you're balanced in your analysis isn't really fair. It's the multiple daily posts claiming "this will rerate soon" or "the MMs can't keep us down much longer" or "bid soon imo" that grate on LTHs because it's just rampy nonsense. If you truly believe in this share and its long term prospects why do you care when it rises? You strike me as a trader looking for a nice quick 100% and then we'll never hear from you again.

If there was a big RNS due tomorrow our CFO wouldn't have been able to buy any shares. This BB has swung from being full of idiotic naysayers - needalife and Stackhigh - to equally as idiotic rampers - affrm and BBG's various aliases. I'm genuinely not sure which is worse.

Why can't people just discuss the recent updates and what lies ahead in a calm and reasonable way. We don't hear anywhere near enough from sensible posters like Bozi, NMM, rcgl2 who know this company inside out. Addicknt does a good job of flying the flag of reason more frequently but more often than not is drowned out by the clowns.