Member Info for SharketMare

The director buys are very welcome. Particularly from Scott putting his money where his mouth is, after the whole "if my wife would let me" schpiel. Let's get the elections out the way and hopefully some progress on the permits before the AGM.

DG1 - thanks, appreciate the explanation. My hangover is not helping my pessimism, unsurprisingly.

I'm sorry, but no one says "at 17" when they mean "in 2017". Given that the share price is currently below 10p, I wouldn't be surprised if Irwin was claiming he took 50% of his investment out at 17p. Anyone have any idea what price he got in at?

Would be good to get clarification on this from him on Twitter as if he's stating he wished he took all his money out at 17p, and expects this to be sold in the next 6 months, there is a pretty grim outcome ahead of us reading between those lines.

2015! Your riposte relates to a comment made 8 years ago. We've had 3 CEOs since then!

"Remember we are an exploration company moving to become a producer."

No, we are an exploration company that has announced an indefinite strategic review, that is producing a reworked PFS for a third time, and that has given absolutely no indication that it is looking to raise funds to start construction of a mine.

Needalife, do you realise how totally f*cking stupid you come across writing this "I told you so" nonsense when by your own admission you've held on to these shares like the rest of us?

If there is some sort of reality TV show you can apply for in Australia, please do, as I'd pay good money to watch you clown around all day.

I don't think it's a coincidence that the share price has tanked over 20% since that Kitco interview was published on YouTube (4 days ago). He was asked some of the tougher questions that had been raised on this BB and his answers were both uninspiring and inadequate. Regretting getting back involved at 14p, but still a believer long term.

Apols for the typos... long day

In mitigation.. Scott has also said that at least some of the interested parties are concerned about the political risk in Ecuador. So whilst the two remaining candidates for President are both pro mining, perhaps buyers are want the election done and dusted and SOLG to do as much of the derisking as possible before making a move.

Also worth remember that in early 2025, so approx 12 months after we release PFS #3, Ecuador will be going to the polls again...

The first thing a PR company would do is ask the business to provide a copy of its corporate strategy. It would then build a communications strategy that enables/helps the business to deliver the business strategy. SOLG are currently unable to present a coherent business strategy (it's under review indefinitely) which is in part why our comms is such a sh*tshow.

I can’t help but feel we are desperate after watching that interview. We stuck the for sale sign on the company with the announcement of the SR. We had no buyers so we pivoted and suggested we’re open to JVs. No one has taken that bait so we’re now reworking the PFS for what will be the third time.

The SR will remain “open-ended” until someone makes some sort of offer for Cascabel - and whether it is a buyout or JV we will jump at it. The chat about JVs on the regionals is wearing very thin for me - we’ve been discussing these for years at this point and nothing has materialised. Why? Are we being to demanding with our terms?

The credibility of the company and viability of the asset is very much on the line in Q1 next year.

Orthern, at this point I’m veering towards the SR being a smokescreen and new mgmt thinking they could get this sold much faster than they have been able to.

It simply can’t take this long to answer questions like “shall we hive off ENSA from the regionals to create two separate companies?”, something the company itself referenced in the RNS.

This leaves Scott in the embarrassing position of having to stand in front of investors and claim it’s “open-ended” and try and repair relationships with BHP and NCM 10 months after his attack dog Sangha said to and Australian national his aim is to stop them from owning any of Cascabel at all.

A question for Quady - as someone who doesn’t believe we are up for sale / likely to be sold, are you not incensed that we’ve taken the best part of a year to conduct a strategic review that still has no deadline against it?

As always with SOLG we are all left guessing and hoping.

Our annual report is released and posters instead choose to play a childish game of Guess Who. No one cares guys. Take it to the other site.

I have a feeling that DinnerMoney is not going to be best pleased reading this update. Not really much meat on the bones RE forward looking plans.

DC saga still ongoing?

“The progress towards delivery of key project milestones including the Investment Protection Agreement and permitting will de-risk the Cascabel project and expand SolGold’s potential funding options across the three phases of development. These could include copper concentrate offtakes, potential opportunities with strategic partners, project finance and Export Credit Agencies (“ECA”), streaming, and equity raises, among other options.”

Amongst the waffle (of which there is a lot) this was a vaguely interesting tidbit.

They’ve really opened the book on corporate governance shortcomings later on in the report and how they are planning to tackle them. Or not in some cases.

Do they*

Fort in August: "So disappointing to see the momentum lost but it will build again once market returns to proper trading 3rd week of Sept"

Fort in September: "usual end of the month weakness for equities as a whole but September notorious for it"

Given you write off all of summer and now September, can you let us know which months are actually positive for equities? Does they follow the same rules as oysters?

There's no way I'm going to bring myself to vote against Scott and the BoD because I have absolutely no belief that anyone would be able to achieve a positive outcome any faster. It's been a painful year, but one that is just as so for Caldwell, Sangha and Irwin who all want an out and stand to make a load more cash than most on here.

Come on Eloro time to let that one go.

Bozi, we see eye to eye on most things SOLG, but I'm struggling with your criticisms of Sangha on the other thread last night. Whilst I appreciate the now infamous 'Bob's bat' story in the AFR was a PR exercise, some of his pedigree was included in the piece:

"The bat bears the label “stupidity reset device” in honour of Sangha’s work in outfoxing the much larger multinational GoldCorp when it made multiple hostile moves on Osisko between 2009 and 2014.

When Sangha helped thwart GoldCorp’s hostile takeover by arranging for most of Osisko’s assets to be sold at a higher price to Agnico Eagle and Yamana Gold in 2014, it was not the last time he took delight in wrongfooting a mining giant.

Sangha was in Forrest’s corner last year when Australia’s second-richest man launched a six-month bidding war against BHP for control of Canadian critical minerals explorer Noront.

BHP walked away from that battle in the belief Forrest’s private company Wyloo Metals had overpaid for geology that was very remote and at an early stage of scientific assessment. Forrest walked away with the prize."

It's hard to believe that Forrest is going to hire someone he doesn't rate to go toe to toe with BHP. I think it's fair to say he has built a reputation for being a strong dealmaker in the industry. A good person to have in our corner.

SaS, I agree. But according to a post from Dip666, he also said it was the second most likely outcome. Dip's words below:

"Most interesting highlight for me is that Shaun seems to see Newmont divesting Hav as most likely outcome, buying Havieron stake from us as second most likely and JV continuing as least likely."

I think the Newmont divesting scenario might explain some of the weakness we're seeing in the SP as it has the potential to push back our timeline to production.

The whole merger has been a massive curveball for everyone who bought into the GGP story prior to it being announced. Very frustrating.