Member Info for SharketMare

PP, have noticed that too. CEY is the one I always keep an eye on. If we can get the FS out while gold is rallying we will benefit handsomely.

RK, it wasn't too long ago (mere months) you were complaining about our shoddy corporate governance. Now you are cheerleading a NED essentially running the show.

I'm with you on Mather being the right man to get the best result for us PIs. But you've got to admit this is proper cowboy stuff at this stage.

Article in AFR today to go with the one posted earlier in the Australian. More of the same. This year has been a joke.

RK, no I'm highlighting that he was responding to a direct question that was totally unrelated to Darry's departure. The tweet and today's RNS are not linked. Have a read for yourself. In fact, it may well have been TheItalian of this parish that he was responding to:

https://twitter.com/TheItal81490451/status/1589866786325135363

Colonel, even a stopped clock is right twice a day. Yesterday you were telling us that "BBs are a good indicator" of future share performance. You have previously claimed Blackrock are an investment bank when they are an asset manager, despite claiming to have worked in investment banking yourself. You repeatedly tell us that Blackrock buying stock in the 30s was a sign that the 'big boys' know something we don't and to expect a takeover "at least 50% above 35p", yet in the same breath you claim they're holding the price down at 16p (providing no justification as to why).

Honestly, you spin a good, bullish yarn, but anyone with half a brain can see you have just as little clue as the rest of us (and are more often wrong than right).

RogueNation - what tweet are you referring to? His "Sale of SOLG" tweet was posted yesterday, and in response to a question on how full value will be realised here. It has nothing to do with Darryl's exit, unless there is something I'm missing.

Thanks sire. That article sums it up rather nicely. A total clusterf*ck of a year.

Quady, why are SOLG going to have to clarify the situation? They didn't provide clarity on why Ingo left, or Ayten left. They didn't provide clarity on whatever happened with funding over the summer. I've been saying all year that communication from this company is diabolical because we are having to constantly second guess what is going on. Perhaps now you are coming around to this way of thinking too?

Fort, one second you're lauding Blackrock buying in the 30s as a sign that the bears have it wrong, the next you're telling us they are selling tranches of stock to keep the price in a certain range. Which is it?

Bozi: " That rests with SOLG management"

Most people on here would be hard pressed to name who that even is these days. Twigger has been one of the few constants, along with Nick in the background. The new lot we as investors barely know from Adam. I guess the interim CFO said a few bits and pieces on the webinar, mainly clarifying/correcting DC's mumblings.

The company is barely recognizable from the exploration company many invested in years ago: scrambling for finance, major shareholders at loggerheads, unable to hold down a CFO/CEO for even a year. It's a mess and I fully agree that we are going to be engineering a sale from a point of weakness, not strength.

Question is, will BHP/NCM bother sticking around while all this unfolds?

Rk - on FirstTin - I spoke to their IR guys (was outsourced to an agency) pre IPO. Definitely one to watch. My strategy is to wait until markets go properly caput and then look to take a position when China et al start rebuilding - literally and figuratively - the economy through industry.

Apologies for off topic.

Ah yes you're right, I thought I read resigned in the RNS but clearly he has been sacked. Can't say I'll miss him.

I was pondering this late last night: whether we are are currently invested in a de facto Mather-run company or whether Darryl was some sort of strategic genius. I thought it was a little odd he sought to take little to no credit personally for the merger - a masterstroke from out of nowhere. Perhaps today we have our answer.

One thing I think this does show though, is that we are going to be waiting several months before any meaningful corporate action. There is no way DC ups and leaves if a serious pay day was imminent.

Colonel, Feb 2025 is not "3+ years" away, it's just over 2 - can you count? Yes I'm well aware Alpala will exist through many elections, but at current pace of progress there is a good chance it'll be someone else in charge when we need our mining license and want to start construction. Should that come to pass, all of the equity we have built with Lasso and his party is rendered useless.

This is why the much derided ESG work we do with communities and people is so important - ensuring we have advocates local to where we want to build who can curry favour with the government at the time.

I've never said I have any idea about the number of buyers lined up, and neither do you. I think comparisons with Noront should be taken with a pinch of salt given we are talking about Ecuador and not Canada - but I've never suggested this share doesn't have the possibility to do the same - I think the upside here is big, but comes with a dose of risk.

Finally, were I to trawl back through your posting history and pull out everything you've called wrong, I'd be here all week. You're a fantasist who spends his time outlining each and every possible eventuality, sadly for us having to wade through your drivel, just never the right one.

Is it, sean? As far as I can tell there are only a handful of people on this BB still talking about SOLG going to production. The company have even stopped talking about getting to DFS, let alone production in 7 years time. We're undertaking a strategic review, that's the sole focus at the moment. Those 'in the know' i.e. Irwin and co. seem to think that releasing full value is "in progress", and for them that means a sale of either the whole company or of Cascabel so they can take their money and move on. So we can take some heart in that. Perhaps upon announcing the outcome of the strategic review, the market might start to take more of an interest as we will have publicly dropped the production schtick.

I think there are two elephants in the room.

1) Do we actually have an interested buyer lined up, and if so, at what price? Bearing in mind, they are buying a tier 1 asset yet to reach a bankable feasibility study and a load of other license areas that require not insignificant investment.

2) We are inching closer towards another election in Ecuador. Realistically, whoever wins that election is going to have to green light mine development at Cascabel. This has to be a serious consideration of any major player willing to stump up the cash to buy either the asset or us as a company outright. With the global economy teetering on the edge and the world over becoming increasingly polarised, who knows which way the Ecuadorian people will lurch over the next 2 years?

I know ColonelDrake shot me down last night for saying this is somewhat of an Ecuadorian crapshoot, but to suggest that our future doesn't come with its fair share of risk and uncertainty is silly, IMO. The market will be all too well aware of this, too.

Like I said, happy to hold my hands up and say I called it wrong. What's amusing is the post of mine you highlighted was in response to you claiming Boliden offered SOLG $100m. Truth is none of us have any idea what is going on here.

If you think a crap shoot in Ecuador is a better investment than a fully funded route to cash and production in Australia, that's your call.

"Just look at GGP deal with Wyloo. Not a good deal at all when you compare it to what SOLG have achieved. That's $150m raised by SOLG without any equity dilution and a minor drop in royalty income on the asset as a whole."

Apples and oranges, but still a silly comment nonetheless. What's your schtick with GGP? A few weeks ago you told us all you bought in, did you take 10% and sell out? GGP was massively overvalued and in a highly precarious position. Having given away 70% of Hav as part of the JV, it would have been crazy for them to start selling off the profits from their remaining 30%. Instead they secured funding to production (2024 vs 2029+) and secured 3 superstars on their BOD.

My money feels a lot safer there than it does here. Though the upside here is much higher.

Today's deal is a decent enough for result for SOLG, and yes I hold my hands up and admit I called it wrong, as I took Darryl at face when he stated that royalty deals were off the table until we got to DFS (a timely reminder that anything this company says is all one big game of smoke and mirrors). I wonder whether he wanted to sow up the deal with CGP (and in return a few more votes at the AGM) before announcing funding that is invariably going to irk BHP and NCM. Interesting to see how they both play it during the run up this year.

Quady, let's just hope our board aren't foolish enough to expend time and resource simply to turn around in a few months and press ahead with what they were already planning to do. That would be rather stupid.

Quady, Plan A is now to launch a strategic review of the business to unlock value for all shareholders. It is no longer press ahead to production.

Zoros, agree with all of that 21.08.

Thanks WF, let's hope your logic is sound. Expect a bumpy few months (not just here, everywhere), but hopefully things will start to brighten up from Q2 onwards next year.