Member Info for SharketMare

Topped up another 5,953 shares this morning, following the Quibbles investment strategy of hoping for a return in 10+ years.

DG1, always enjoyed your posts across a few different shares we are both invested in. I have no reason to disbelieve your claims to have spoken to members of the SOLG and CGP teams over the years. It's clear as day what the plan is here, it's now up for the new directors and their advisors to deliver it.

Here is the relevant RNS from July last year. Looks like BHP completed Phase 2 of the drilling programme and decided not for us. The share price dropped 12.5% on that news, slightly more in the following trading days but has since recovered. Looks like Luminex have several other prospective areas they are now focusing on instead.

https://luminexresources.com/news/luminex-provides-tarqui-update-and-drill-results/

Good spot addicnkt. Also keen to see which 7 companies they have chosen for their BHP Explor programme. The jurisdictions in which these companies and their respective projects sit will give us a good indication as to where their geographical focus is for the next 3-5 years.

@SAS
"RTC, why can’t you see a £4B valuation ?

Surely you know by now that an SP has got FA to do with what a company is really worth.
It’s all down to supply & demand.
Large demand, little supply, price goes up.
Little demand, large supply, price goes down.
It’s not rocket science !
...
Take Tesla for instance..."

Yes a £4bn MCAP is certainly possible, but when attempting to value a company sensible investors don't - or shouldn't - be factoring in the potential for it to become a subject of fervent market speculation and ridiculous overvaluation, as was the case with Tesla, and with GGP, over the last few years. Investing in a company in the hope that its valuation becomes detached from its fundamentals isn't a strategy I'd advocate.

It isn't a million miles away from making comparisons with the meme stocks that blew up during that bizarre period during the pandemic.

GGP at this price (and MCAP) is undervalued based upon future revenues from its 30% share in HAV, and as we release an updated MRE, the FS, and receive a positive decision to mine, the market will inevitably start to close the gap. The license areas we own - as prospective as they might be - won't really be much of a factor here until the drill bit delivers some positive results IMO.

Agree with Culpepper's sentiment that in absence of another stellar find, a 100% rise from these levels in a relatively short time frame will be a good result (speaking only for me personally of course).

SM

Watching and waiting here - I think the KCB drilling campaign is worth investing in at these levels. When funds become available I'll look to get back in to KAV. Positive drill results in the first half of this year, followed by talk of drilling again at the GRS could see this back at 5-6p. Lots of ifs in there, but worth a punt I think.

I take Cox saying he'll sell up at 1.75 and never touch this again as a bullish indicator :)

Of course he's a parody. His writing style is familiar but I can't place his former alias - there was definitely someone else on here once who was able to namedrop at will from a certain era whilst telling tall tales. The core tenet of his production argument is an unhealthy obsession with Nick Mather, and DBW put that to bed late last night.

Addicknt, in total agreement with you on the shoddy comms from SOLG itself, but it's worth re-reading the AFR piece in which Sangha, who will control just shy of 5% of the company once the merger completes said. For me this puts in plain English what is going to play out here.

"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.

It now seems far more likely that SolGold will sell part or all of Cascabel and use the proceeds to return to its core competency; greenfields exploration.

“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.”

Addicknt, it's a moot point: the people running the company are aligned with the DGR strategy. They're all working towards the common goal of monetization of Cascabel. It's simply a question of how and when at this point.

How thick do you have to be to think that when Mather is speaking from a DGR perspective it is any different from his views as a former/current SOLG employee?

I have met more perceptive teenagers.

Sean, given you assuredness of a bid, why don't you just head off now? You've gone from dry-witted and humorous Glaswegian to tin-foil-hat-wearing grumpus, accusing posters of having an 'agenda' and trying to shut down well meaning discussion. I used to look forward to buying you a pint once we all get our long overdue payday here, what has happened?

TheItalian, that is quite the cynical take! If that were the case Bob Sangha will have destroyed his credibility and reputation and no one would trust a thing he had to say again. I think the very public nature of this takeover and the PR campaign that ran along side it is a sign of confidence of monetization rather than empty bluster.

DinnerMoney, Bozi - thanks for your responses. Glad I'm not going mad.

Christ, what is wrong with some of you? First Fort jumping down my throat on the LDN thread which I strongly caveated with "this is an apples and oranges comparison" and now this from you Sean, who has spent the last 24 hours posting useless and inane cr*p about getting Quady removed from this BB.

To suggest that there is no similarity at all between LND and SOLG is ludicrous - both are mining companies who are undergoing or have completed strategic reviews. Both have a retail shareholder base who for a long time have been saying that a takeover is nailed on. I posted the link last night to show people what an example output of a strategic review could look like. addicknt's response was the only one that was remotely reasonable - one of the few people left on here with his head screwed on.

Just watching the Len interview - how much more comfortable does he seem than when he first stepped in the CEO role? I'm sadly no longer invested here, having had to cash out mid Q4 to fund a flat purchase, but as soon as funds become available again I'll be looking to get back in. An absolute steal at these prices with a highly promising year ahead.

Market outlooks are varied, but general consensus is that the US will tip into recession at some point this year. If we are going to be breaking ground end '23 early '24 we may well be in a sweet spot for getting in to production as the global economy is starting to properly recover.

addicknt, not that I saw, admin must have decided it wasn't appropriate, which is laughable given half of the sh*te posted on here.

According to Fawzi they aren't. Take your pick.

In my experience when someone states that another party is "free to express their opinion", it's a polite way of saying "that's a load of b*llocks".

How the company intends on advancing and de-risking Cascabel without producing further studies, I simply don't know. You could argue that all of the below actions fit that description:

1) Further drilling at TA for open pit before full block cave operation
2) Bringing on a JV partner
3) Selling the asset to a third party
4) Optimizing the PFS (though we've been told this isn't happening)

Personally I think we're just in a holding pattern awaiting the outcome of the completion of the merger and the outcome of the strategic review. At which point the company will have to put its cards on the table and let us all know what the plan is (though I think Bob Sangha spelt it out for us a few weeks ago in the AFR)...

addicknt - had similar thoughts.

Not as clueless as SP Angel. I asked the company for clarification on the note as it runs contrary to what they recently told us. In response:

"Regarding SP Angel’s comments, as a broker they are free to express their opinion. I refer you to our Company Update RNS dated 22 November 2022 where we provided our last update to the market regarding the studies stating that these are expected to be delayed and that the focus is to continue to advance and de-risk Cascabel."

i.e. it's a load of rubbish.

It will be interesting to see what the short position(s) do once the drilling campaign ex-Hav is up and running and results are due. A promising find could see this spike and the return of the "herd", given the high profile GGP had/has amongst retail investors. From a risk perspective I'd be surprised if an insti like JPM would be happy with betting against a drilling campaign across some highly prospective licenses. I guess we'll see in due course.

I don't take any joy in the fact you've lost income, Quady. I'm just pointing out to readers of this BB that you arrogantly questioning others' thinking on this stock should be taken with a hefty pinch of salt given your own investment decisions.