Member Info for SharketMare

Schlemiel, this is what I'd like to know too.

Red, the idea that Sandeep or the stand-in CEO will launch a bid for SOLG as some form of takeover defence is absurd. People would think they'd lost their marbles.

I'm sorry but the 10% interest in Solgold (worth about £40m) will not be a serious consideration of a major miner looking to spend £20bn on swallowing up a competitor.

Quady a broker, give me strength. A game that is all about relationships and compromise. I was an astronaut once too.

"I felt that I didn't need four heavyweights from SOLG.(two of which are uninvested in ALL) to plow in and start telling people what they should be doing and whether they should be investing or not"

I didn't tell anyone what they should and shouldn't be doing, nor was I responding to you, bakrupty. I was merely defending the stock and the BOD from the nonsense posted by others on here, which as an investor should be welcomed rather than attacked.

No idea what your problem is bud.

Amazing, investment advice from someone whose trading strategy appears to based upon investing in shares owned by adversaries on internet chat forums - which is the only reason you are here, MassiveRay.

I think Buffet followed a similar strategy during the dotcom boom.

A couple of posts from Hubrishunter on Twitter on the delay:

"$Solg a prospectus is required by Solgold for UKLA (as was known) and sits under the FCA to approve the new share listing. Takes a minimum of 5 whole working days plus 3 more if more info needed IMO. Yes delayed more than I originally envisaged. Why? Dunno. Spec Jiangxi trade?"

"Hard to know. A block trade would not change number of new SOLG shares unless they cancel the Treasury shares. This also requires going to the FCA to authorise the prospectus proforma But I doubt this is the reason. Nothing to worry about. Likely just procedural"

HH, if you're reading - sign back up here. Your insight and knowledge is sorely missed.

Perhaps they use imminent in the manner that SOLG has used the word historically :)

Not2sure, I know you're in SOLG too - investors here don't know how good they've got it! If you want to see what a lousy BOD and mismanagement of an asset looks like, take a look at the story there over the last few years...

(Though I caveat that with I think we will get a payday before long...)

LL, your post is misleading and disingenuous to say the least. You've chosen to compare today's share price with the spike up to 40p in 2017. How about we go back a further 12 months when the share price was 3p? There's your shareholder value creation - a return of approx 1200%.

There are many more shares in issue today than there were in 2017, and the company is valued at a considerably higher MCAP, too. This is part and parcel of investing in exploration companies. The BOD made a decision to raise funds through equity - we have no debt. We partnered with PLL to help fund further exploration and development at Ewoyaa, massively derisking the proposition in which I believe was a brilliant deal for ALL shareholders.

We are now transitioning from explorer to producer and, in the absence of further catalysts, there isn't much to entice investors here over the short term - barring the resource update, the granting of a mining license and potential further investment from the MIIF.

If you want another example of a company whose share price has taken a hammering during what is known as the orphan period, take a look at GGP - currently wallowing around the 8p mark following spectacular (and massively overdone) highs a couple of years ago.

We are likely in the 'development' phase on the graph below. The numbers speak for themselves. Providing we receive the necessary permitting and don't have too many operational hiccups, you will see your shareholder value creation in a big way from when we start producing onwards.

https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/

I am not even invested here at the moment but felt the need to defend the company and the BOD, who have done a brilliant job so far amid tragic and difficult circumstances.

Looking forward to the update on the use of hydro electric power in the new presentation. Been just over two years in the making, so should be highly informative.

Where is the MIIF link? I see no relevance at all. Looks like they're ensuring they are all well remunerated around the time ALL should be going into or already will be in production. The SP will be well north of 60p by that point.

No one's displeased by your buys, in fact I welcome people supporting the share price, even if it is on a temporary basis. It's the 20+ uselss posts, shameless bragging, and bickering with other posters on here that ****es everyone off. All of today's discussion of SOLG has been buried.

Anyway, I think we'll see the prospectus published tomorrow morning.

addicknt - yep, it's clear what the intention is, it's now a question of delivering. I'm hoping for the prospectus tomorrow and news of the merger completing not long afterwards. If Bob is able to deliver news of a bid alongside the merger completing, I'll buy him a new bat myself.

https://www.afr.com/companies/mining/how-bhp-newcrest-may-lose-their-copper-prize-to-a-scrappy-crew-of-minnows-20221114-p5bxxy

Some highlights:

1. "Sangha helped to arrange the Osisko royalty deal under Maxit’s new role as a financial adviser to SolGold." - This is the $50m ringfenced for Cascabel - orchestrated by the same person who is saying that the dream of building a block cave mine at Alpala is over.

2. "“No one would be happier than me if we end up with a great outcome for shareholders and BHP and Newcrest end up with zero stake in Cascabel,” said Sangha. “It’s all about taking these big companies down and embarrassing them.”" - This scenario (i.e. zero ownership of Cascabel by BHP or NCM) is only viable through a third party takeover.

3. "It will see more SolGold shares issued to Sangha (who owns almost 20 per cent of Cornerstone) and some of his friends, and it will dilute the power the BHP and Newcrest faction wield on the SolGold register." - In reference to the merger, this now means there are more shares in the hands of people who have publicly stated they want an exit from SOLG, i.e. a buyout or asset sale in which proceeds are returned to shareholders. A JV would not allow for this as any rise off the back of a JV would be heavily sold into and simply not a fair or viable outcome for all shareholders looking to cash in.

4. "The strategic review will be run by Sangha and Citi and will consider selling part or all of Cascabel, among other options. Sangha says the strategic review heralds the end of an era where SolGold was “pretending they were going to build a block cave” mine." - This one doesn't need any further explanation.

5. “We are going to do what we should have done six years ago; monetise this in whatever way maximises value for shareholders,” said Sangha. “We are bringing it to an end fast and smart, rather than slow and stupid.” - Again, pretty clear what this means.

Hi Quady, no I'm referring to the AFR article that The Italian referenced earlier, where Bob Sangha laid out in no uncertain terms that the plan was to monetize the asset, and that SOLG building a block cave mine at Cascabel was no longer an option.

Quady, we have been told that the plan is to monetize the asset and that dreams of us building a block cave at Alpala are over. You can ignore the reality of the situation all you want and cherry-pick slivers of information that suit your production narrative, but in the not too distant future you are going to look rather silly.

It's funny you mention Widow T****ey, Shaunhunter, as back in the early 80s I had the pleasure of meeting Dan Le Rue,
who of course played her at the London Palladium in 1978. Following a lunch at Simpson's Tavern that started at noon and ended in Soho in the smaller hours, we found ourselves at the French House mingling with a few of the artier types from the area- including Le Rue. One of his acquaintances made what I can only describe as a pass at me via a not-so-subtle grope of my upper thigh under the table. I politely refused his advances, and had never told a soul of the incident until this very post.
Years later we'd cross paths again, both Le Rue and The Groper, at Buckingham Palace on the Queen's Birthday. I think it was 2002 and he'd been awarded an MBE. I'd been invited as Mandy's plus 1. He remembered me of course (le rue), and I could never shrug the suspicion that his friend had told him of his
approach to me all those years before. A knowing glint in their eyes when we shook hands.

/Quibbles

Good find rcgl2. I believe Ingo was also a director while he was at the company? Hard to know what, if anything, it means, but interesting nonetheless.

Cheers zoros - your timelines (and other posts) have been very helpful as I spend more time focusing on what's playing out here and less on SOLG d*cking about in Ecuador!

Whilst he will have to be very careful what he says publicly (e.g. he can't onward share views from conversations with NCM on the revised MRE or the FS), something seems to have softened Shaun's stance.