Member Info for SharketMare

Hi Lunch, I think it was this...

"You've probably guessed, I'm very experienced in all things SOLG. I do a lot of research. I hope to use this board to exchange views on SOLG updates and news items with similarly knowledgeable posters."

...that struck me as something the LunchMoney of old would never have typed.

Good to have you back, your posts on AGM day were helpful and necessary. Try not to get too wound up by the nonsense.

NRL2901, thanks for your sensible post. I had actually missed that comment from Warren Irwin. Here's the link to the tweet and thread for those interested: https://twitter.com/bigdude6669/status/1595832739877769216?s=20&t=2oOFIzAEVeRcqvSQ_0Ih4Q

He also goes on to discredit the 78p+ fair value as outlined by Darryl in the merger presentation as "prognostications that were made by people who are no longer with the company".

I know it's not the most popular option on here, but I really think that Bozi's suggestion of hiving off Cascabel into a standalone company and then selling it on, leaving SOLG to continue exploring the regional portfolio would be the best long term outcome for shareholders. It'll allow us to get a better valuation from the market of Porvenir & the other prospects. Given Irwin's posts, 45p-50p for Cascabel seems about right?

DinnerM - are you LunchM reincarnate or are you TheSlug? I thought the former until you posted something day of AGM, now can't tell

For those interested, Norges voted FOR everything the board proposed, including the Specials, with the exceptions of the remuneration report, the re-election of James Clare and the election of Dan Vujcic.

All related to concerns about conflict of interest and remuneration.

https://www.nbim.no/en/the-fund/responsible-investment/our-voting-records/meeting

Zoros, in fairness there has been little to learn on here because the company hasn't made much progress. There was some excellent analysis of the merger (the only thing that really matters this year) by a poster called HubrisHunter, who was hounded off this board by people like yourself who accused him of being TheSlug. So thanks for that... The rest of the time we've been left to sleuthing and snippets from Fawzi.

The BB is only as good as the company!

It's hardly scaremongering when the market is shut and news of the results were being published before market open this morning. I'm happy to hold my hands up and admit my anxiety was totally misplaced - it was driven by the lack of results RNS during trading hours. I also thought we'd rally after the AGM if the directors all managed to retain/gain their jobs - clearly not.

The specials (12 and 13) needed 75% I believe so have not passed.

Let's hope for a better 2023.

Addicknt, I'm probably part of the camp you describe. I just find it odd that we didn't get a results RNS as we did last year. At 7am tomorrow my posts below might look very silly. I just hate the uncertainty and with Solg, have learned to fear the worst. Sorry but that just is how it is for me.

If Nick has gone as Director he is going to be spitting feathers that he agreed to the merger and his golden goose is now being run entirely by his former foe.

Imagine Dbw... I did also suggest to Bozi privately the idea that he could come back as DGR's representative to the board, though I'm not sure whether this would be permissable by the governance code.

FTJNY, I'm not so sure. I am pretty anxious at this point, as if Mather has secured 76% of votes cast IN ADVANCE his position is by no means guaranteed (though am not 100% on the maths here). The lack of Results RNS is unusual.

I wonder if they are burning the midnight oil in Brisbane pouring over the corporate governance code in the UK to work out what they can and can't get away with...

As I said earlier, Fawzi's absence today does not fill me with confidence given the importance of today's vote and the fact that it was by no means a done deal.

Let's hope he has a job to come back to.

It certainly is Bozi. I've also thought BHP's silence in the run up to this AGM has been notable. In fact we've not heard much bar speculation in the press since we brought Jiangxi on-board and the merger was announced, have we?

Are we not due a "Results of the AGM" RNS today?

Only 1 person can use those details.

Not going to lie, our IR guy being on holiday for this AGM does not fill me with any confidence whatsoever. In fact, it's made me concerned it might be a total clusterf*ck.

Either that or Caldwell and co have said he won't be needed because they aren't going to take any questions. Or plan on just ignoring them...

You too Bob, try not to shoot your other foot before the 25th so you can still hop about over Xmas.

So Fawzi managed to negotiate a 50% increase in his base salary from 2021 to 2022? (As per Kohaku's post).

Nice work if you can get it. I'm sure he's been extremely busy over the last few weeks speaking to various investors to shore up support for the BoD. Time for him to earn that crust.

"Lastly when I get something wrong I always say sorry"

Speechless.

"Our resident village idiot probably doesn't even understand what this is about."

Never a truer word posted on this BB.

Nick wants to cash in on Cascabel and rinse and repeat across the portfolio. He said as much in one of the recent DGR releases.

Orthern is just less optimistic than most about a positive outcome here and is (rightly) disgruntled at how the company has been run for the last few years.

The quality of the asset in the ground is the only thing keeping many investors here. The way this company has been run has been objectively poor, from governance and fundraising to strategy and communication.

I would recommend re-reading the Sangha piece in the AFR where he started swinging for BHP and NCM. If you believe in his track record and ability to screw the over majors, buy this stock. If you don't, sell up and take the loss, because in 12 months' time it might be a lot bleaker.

We need SOLG to plot out the middle ground, the plan B should plan A fail.