Member Info for SharketMare

AGM due to kick off at 11am UK time

Given the Newmont CEO's recent comments on Solgold, I think the chances of this happening are next to none.

Thank you for sharing xeverton

Solgold is only a beacon for ESG if you ignore the G.

Eloro, because at the time landing two big names on the register was a massive win for what was then a junior explorer. They wouldn't have taken large stakes in the company without those rights.

Morning TI. I wondered the same thing. Could it be related to being able to issue large quantities of shares to a potential suitor so as to force through a takeover? Something not currently possible due to the pre-emption rights held by BHP and Newmont?

I'd wager most actual 21 year old analysts have a much better understanding of how the markets work than you do matey.

Utter garbage. Do you think institutional investors like Blackrock, Norges Bank and others would sit back and watch their investments be manipulated by the likes of BHP? Of course they wouldn't. Neither would the likes of Mather who have substantial capital at risk.

You're just another one who has bet the farm on this share and lashing out at imaginary boogeymen.

Why would anyone pay someone to deramp SOLG? The people running the show are doing a brilliant job themselves. This lawsuit being a fine example.

52 week low. 7.0p.

Given the shocking share price the company ought to release a statement addressing some of the points raised in the AFR piece. They won't be able to comment on the legal proceedings but they can at least call out some of the inaccuracies and reassure shareholders that they are confident of securing adequate shareholder support at the AGM.

This company is a proper basket case and I can't wait for it to come to its conclusion.

Good point on Blackrock actually being supportive of Mather. The whole article is fairly lazy but gives some juicy insight as to what went on behind the scenes.

NMM - agree with your 08.18 post completely. A change of government provides BHP with an opportune moment to stake their claim. Unfortunately SOLG have given them plenty of ammunition over the years to do so, too.

Never fails to deliver a sh*tshow at this time of year. What a royal mess. You can bet that BHP are working overtime behind the scenes both with shareholders and the Ecuadorian government to make life as hard as possible for us.

I'm looking forward to Quady finding arguments against the court documents submitted by DC stating that Mather & co. have been trying to sell the business for a while.

What a mess.

My top up at 8.6 to bring my average down looking like a shrewd move. *rolls eyes*

TI - that might well be the case, but we are reaching a crunch point with the Ecuadorian government who will want to see progress and a path/timeline to revenue for the country. It's at this point that discussions around price become serious and our major shareholders lower their expectations.

E.T. - not a complex problem to solve, but definitely one that any bidder would want resolved before making a move. And, arguably, one that Mather and the larger holders would want resolved so that more of the proceeds went to them and not the govt.

Correction: we have spent $238m of the $400m committed. So a shortfall of $162m. Still a decent wedge.

It's almost impressive that amidst the mindless ramblings as to why there is no bid yet, redknight fails to mention what is arguably the most compelling reason - the fact that we still haven't managed to renegotiate the IPA with the Ecuadorian government. As per the original terms of this agreement, we are around $200m short of what we agreed to spend on Cascabel exploration by the end of 2023.

Let's say a bidder is weighing up an offer of $1.5bn for Cascabel, which works out roughly 40p a share. The successful bidder would be buying the obligations in the original IPA, i.e. with the outstanding $200m liability. No major mining CEO worth their salt is going to want to have an extra 13% whacked on top of the price they're willing to pay for an asset. And that is to say nothing of the other conditions in the document which may also be subject to renegotiation, particularly as we are the ones trying to wriggle out of a commitment worth two thirds of our MCAP.

It hasn't been publicly addressed but this is invariably part of the mess that Caldwell is having to unwind to prepare the business for a sale.

It will be very interesting to see whether the Ecuadorian government goes on the offensive as the year lapses and we haven't held our side of the bargain. If they do we are in big trouble. Personally, I think that the pro-mining noise means we should be fine, and I'm hoping to see the agreement land this side of the AGM (as per SOLG's self-imposed EOY deadline).

I wonder whether the audience for these RNSs are not investors, but the new government. The revised IPA remains unsigned and it's not unrealistic to think the new administration have asked the question of Solgold about what they have actually done with the land packages over the last few years. I've emailed the company asking about the IPA but not received anything back. If they miss their end of year deadline shareholder's deserve an update.

SOLG is not an AIM stock, it has a main market listing.