Member Info for SharketMare

Interesting, as just the other day I recall you doing your damndest to pour water on the objectively positive news that Jiangxi had been buying more stock on the open market.

128+ posts from you over the last 30 days, all on SOLG, the vast majority rubbishing any inkling of positivity and picking fights with posters who have been here for years.

Mad behaviour, totally mad.

They're*

Far less mad than someone who spends each day trying their hardest to discredit any slight piece of positive information about a stock their allgedly invested in. The tweet from HH that redknight shared RE the CEO of Celec saying THEY will build 1,000MW of installed capacity to be used by SOLG was pretty interesting and a further pointer towards the government being serious about starting construction next year. Yet you were chomping at the bit to take the p*iss and rubbish it. Bizarre behaviour.

If the upside doesn't balance out the risks, why are you invested? Are you thick?

I recall Bozi & others on here calling the appointment of Turney as a big red flag the day it was announced. He did a great job of hyping the share price up to 6p and has since turned KAV into a lifestyle company. The Zim deal will simply buy him a few more months at the top before he is inevitably removed by the Kasangras, who will probably end up controlling the whole lot.

We sell the asset to a company that has the financial means to start construction.

You'd hope so, but what they do with their stake in SOLG will be pretty far down the priority list given that Newmont have no presence in Ecuador and their stake is worth approx. £50m at today's prices. I think the most likely course of action is that they'll sit and do nothing.

Hope you are well Dbw

"but surely not for a price below 40p"

You think Newmont, worth over $30bn, are going to be playing hardball with 10% stake in a non-care asset in Ecuador? I imagine it'll be put in the bottom drawer and forgotten about until someone makes an offer for all of SOLG, at which point they'll sell up, regardless of price. Of more concern is them deciding to dump it into the open market.

Hi add, yes they did, and I think they committed to that update when they were confident of hammering out a deal for Cascabel in the first 6 months of this year. Bob's bullish comments, the whole "fast and smart" schtick. I recall Bozi and others (inc. myself) saying that end of H1 was a reasonable timeframe for an offer to materialise post merger.

My assumption (heaven forfend we make assumptions...) is that the political situation and the two license negotiations are what is currently blocking Jiangxi/whoever making a move that would result in an offer being put to shareholders. Makes far more sense from where they are sitting to let the incumbent weather the political storm and get those two deals over the line.

This is why Scott has had to pivot somewhat and why we're now talking about optimising Cascabel in fairly vague terms (we have no idea what form this update will take, and no timeline for its delivery). Still a believer that things will come good here, particularly from these levels.

As far as I remember the only deadlines the company have committed to are the two agreements with the Ecuadorians - by year end. To me that speaks volumes about the timelines we can expect here before any meaningful action.

Fully expect the 'regional prioritization' charade to continue for most if not all of the year and no drilling to be done.

Expect some progress/updates on tailings site and environmental considerations, but again no timelines provided by the company on these.

You have, a point well made. Consolidation will mean the SP is higher regardless, but when we are producing our MCAP should exceed past ATHs, too. And hopefully by some way.

" I stand by what I've said before, that there will be a bid eventually. But we don't currently have a buyer, so it won't be any time soon.

Sadly, I don't think the company is going to get much more saleable, you're right about that."

Assumptions:

1. That there will be a bid eventually

2. That the company won't be sold anytime soon

3. That the company isn't going to get much more saleable (which is in fact a contradiction to a previous post whereby you stated that SOLG needed to rebuild credibility and actively pursue the exploitation license in order to receive a bid)

In short, you're full of sh*t.

Woody/snowman I had the same thought. Find it hard to believe that Jiangxi would be allowed to access MNPI via the signing of an NDA and then buy shares on the open market.

ArAgCu what I find baffling about the below exchange is you seem so desperate for it to be the case that companies have signed NDAs and not accessed the information in the data room. Do you honestly think majors would go through the trouble of engaging their legal teams to read and sign an agreement only to then not bother reviewing one of the biggest copper gold finds of the last few decades? What an absurd thought.

I'm sorry Q but your memory has let you down here, he confirmed that CAs/NDAs had been signed. It was black and white.

No Q, he confirmed that SOLG has signed several NDAs/CAs but couldn't name any of the companies to have done so. The way he answered the question on Jiangxi's involvement to me at least implied that they had signed one.

I would add - first round elections on August 20th might mean the people on the other side of the negotiating table are different come year end. The second round/run off is not until October 15th.

SOLG would do very well to get those agreements signed before then, if government is still operating in between rounds 1 and 2.

I still fully believe there will be a takeover here, just not until much later in the year, perhaps early next year. Fort posted some rambling analogies about houses and hotels yesterday to describe the situation, here is another:

SOLG owns a house. Jiangxi is the buyer. Upon doing due diligence, it becomes apparent that SOLG owes the person who owns the land the house is built on (the Ecuadorian government) approx $145m before the end of the year. SOLG is attempting to renegotiate this agreement (the IPA). SOLG is also negotiating an agreement to build a massive underground extension (exploitation agreement) . These are things crucial to the success of your purchase - no underground extension, the house is worthless to you.

If you are Jiangxi and decide to purchase today, you will have to take over these negotiations, and you do not have any relationship whatsoever with the landlord at the moment.

The smart, risk-averse play here is to sit and wait for SOLG to resolve the issues with the landlord and then make an offer. The downside to this is another buyer coming along and deciding to make an offer, at which point your hand will be forced into a counter offer if this is an asset you are dead set on buying. But you realise that it's unlikely that one of your peers is going to risk £$1.5bn on a block cave mine in Ecuador without those agreements in place.

There is very, very little impetus for anyone to bid now. Nothing will happen here until SOLG has done those two deals with the government and the project has been massively de-risked. This is why in yesterday's slide deck (slide 5) it was listed as the first priority for the business. We've been given a timeline of year-end for these agreements, pretty much the only deadline that SOLG is currently willing to commit to.

Timing wise, I hope to buy back in 1) before the agreements are signed or 2) after the agreements are signed and before an offer is made. With no drilling taking place (and I imagine there won't be any at all this year), it's hard to see what will catalyse the share price in between now and October.

Based upon the comments just then RE strategic review - that it includes internally reviewing other prospects such as Porvenir, and has no fixed end date - it becomes devoid of any meaning, and is basically a smokescreen for the company to muddle through without a clear strategy.

The renegotiation of the IPA will involve a significant write down (approx $145m) of the financial commitment SOLG made, which was due to be spent by end '24. How SOLG go about justifying this and convincing the govt that SOLG are the best company to move this forward will be key. The company does not appear to be negotiating from a position of strength.

This presentation has been poor at best. Perhaps the Q&A will liven things up.

"The presentation material will also be available on the Company website on the day of the presentation"

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