Member Info for SharketMare

Come on guys, let's give the bloke a chance. Given the nature of his job and what he said in his email, there's a good chance he's reading this board. People (myself included) have bemoaned the lack of comms from SOLG with PIs and now Scott has done something about it. If Sean's appointment means a responsive IR team then I'm all for it. And if this is more cost effective than hiring someone on a 'permanent' basis who might be out of a job in a few months, then it's a smart move. Thanks for sharing Shippy.

We've basically outsourced IR. Agree with Bozi, NMM and add that the email doesn't inspire confidence. Though BBG's point is a reasonable one.

NotMuchMoney - I wouldn't bother with BBG. On the Telegram channel he mentions it recently became apparent he was totally unaware of the fact that we are negotiating a revised IPA and the shortfall in SOLG committed spend. He resorts to ad hominem attacks and r*cist abuse when he gets found out (as you have experienced and will see more of, shortly).

The sane amongst us value your measured input! Happy new year.

It's not a rant, Quady, it's a submission to the Federal Court in Australia.

Will leave it there and wish you a prosperous 2024.

I would add that "reducing investment in the project and maximising the prospect of selling Cascabel" is exactly what the company has been doing since Caldwell took over.

Sorry Quady, but that's just plain wrong. As per the AFR article published last year on the DC court case:

"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."

Unless you think Daryl is making things up (and committing a crime), this to date is the clearest evidence we have that shows Mather & co want this sold.

Quady, I'm not suggesting we can't do it. I just think that given management and major shareholders want to exit their positions, a sale of either the asset (Cascabel) or the whole company is the outcome they are pushing for. The company has been winding down its workforce, discontinuing positions (e.g. our Chief People Officer / HR lead), and is employing contractors (e.g. Sean Tufford) to fill important roles (you generally don't bring someone in on a temp basis to manage relations one of your most important stakeholders, i.e. investors). This is not how a company that is gearing up for several years of mine development and ultimately production behaves.

It's not a preferable outcome for shareholders wanting an exit and NOT wanting to be diluted, take on development risks etc.*

Quady, I don't think anyone believes we can't enter into a JV at Cascabel, more that it's not a preferable outcome for shareholders wanting an exit (including SOLG's management and its advisors), wanting to see their holdings diluted, or wanting to take on the risks associated with developing a mine in Ecuador.

No worries chaps hope you are both doing well. Pretty wet and grey start to the NY in North London.

highflyingman - I think he is likely to be more of an IR guy than a dealmaker for SOLG.

Morning Goner, happy new year to you. This is an interesting development. Sean Tufford runs his own shop which specialises in Client Relations. He describes the business amongst other things on his LinkedIn as having "strong, proven experience with multiple M&A transactions, public company shareholder lists, subscriber lists, donor lists, membership lists, customer lists, supplier lists, and patient lists."

He describes himself using the following: "With over 15 years of senior leadership experience in the mining industry, I have a proven track record of getting stuff done when times are tough. I have successfully assisted multiple public companies in equity capital raising, corporate development, investor relations, and marketing, as well as navigating complex M&A transactions in challenging markets."

He also, a month ago, posted a link to the Kitco interview that Scott did a few months ago: https://www.linkedin.com/posts/sean-tufford-2a91028_getting-cascabel-over-the-finish-line-solgold-activity-7135675568326377472-geQR?utm_source=share&utm_medium=member_desktop

In his own words: "PUT THIS ON YOUR WATCHLIST. Every person, every institution, every analyst, every writer says, Cascabel IS GOING TO BE HUGE."

And at the bottom of the post he leaves the investor email for SOLG. So in short, I think the email is legit and we've hired Sean to get this over the line.

Stackhigh, you were right in your predictions last year, but as Bozi points out that's in part due to things that were totally outside of the board's control, e.g. commodity prices falling, Ecuador going to the polls. Things are taking longer than management and their bullish advisors would have hoped for this time last year. Hopefully you put your money where your mouth was and either shorted the stock or managed your position accordingly?

What are the tea leaves saying lies in wait for 2024?

Yesterday when I took a brief look a huge chunk of the trades were A trades.

The board today is frothy even by its own ludicrous standards. We are up around 50% from 7p, which from memory was about 2/3 weeks ago. Best advice is to ignore the rampers (Red, BBG) who are totally clueless, and the derampers/trolls (Stackhigh, NAL) and wait for some news that will hopefully give us an idea as to what, if anything, is happening behind the scenes.

Better times ahead, we hope.

What a great day. Long overdue. Here's to a prosperous 2024, starting with an offer for the company in Q1.

Happy Christmas addicknt

NMM, agree, we deserve an update. I know only a handful of us bang this drum but it's important and the self imposed deadline is nearly here.

Seems like the uplift was priced in already and most people were hoping for a 50% increase. RNS was positive but underwhelming. I imagine a few event based traders sold up and moved on today.

Well according to the court documents, Nick Mather has for some time wanted to stop further spending at Cascabel and sell it. Which is what we are doing.

Let the shenanigans begin. BHP have been far too quiet, tomorrow's voting results might provoke a response from either us or them. Judging by the rally today we - i.e. the smaller shareholders, Mather, Caldwell etc. - are safe for the time being. If we nail the agreements with the government and turn this into a turnkey asset we all, at long last, should make some good money from these levels.

This time next year...

I just hope we get the results today. Appreciate it'll be late in AUS but would be good to know where we stand.