Member Info for SharketMare

Morning all, agree with John1970's post below, and think it's worth thinking back to what Shaun Day told us in London a few weeks ago. He himself is not happy with where the share price is and feels that the debt/equity funding and board appointments should have rerated us. He suggested that we think of the share price in 3-year cycles. We are currently about 20 months into one of these cycles (since SD took over) and in this time he has set the company up for mid-long term success.

I suspect that with the release of the FS we will start to see some meaningful movement here. I don't expect the share price to move a huge amount more on Hav drilling updates bar something spectacular. However, if we find something substantial in one of the other license areas we own, you'd imagine that some of the hype of recent years might return here.

All of this is in the context of investor flight away from equities as we head into another global recession.

Anyone able to share the full text?

Lunch - wouldn't that be a nice way of getting Mitsui on the register?

Ideally we get the funding sorted sooner rather than later, allowing us a nice run with two decent catalysts prior to the AGM.

I didn't see or even think about the prospect of a friendly merger though, so half expecting DC the magician to surprise us all once more. Tomorrow I'm hoping will be insightful, if nothing more!

Dbw, I agree and said as much on here previously - that if we were to get the market to appreciate the 2 updates properly, we'd have to have secured funding for the mid term. I am now guessing that after the "unsuccessful equity rise" (as it was described in Mining.com last week, https://www.mining.com/solgold-becomes-sole-owner-of-cascabel-with-cornerstone-buy/) that Darryl has focused on getting the friendly merger out of the way.

This presents a different proposition altogether to prospective investors, as they'll be buying into 100% of ENSA, and without a difficult relationship with a junior partner/investor to navigate.

So perhaps now he'll get a raise away quickly and then release the updates. Who knows!

Quady - I mean news on one of the two items you mention below. The Porvenir PEA and the revised PFS. Or perhaps funding.

Keeping a close eye on where this closes today. Given our moderately precarious position, I would not be surprised to see news tomorrow morning ahead of the presentation. I think this is the first time Darryl has faced investor questions for some time. It seems the jury is still somewhat out on whether or not the merger is good for SOLG shareholders (judging by mixed sentiment on here). Having another piece of good news to point to would certainly take the edge off what could be a difficult session!

Just for ease, you can register for the presentation tomorrow at this link below:

https://www.investormeetcompany.com/solgold-plc/register-investor

Was buried away in the merger RNS. Think given all that is going on this one isn't one we can afford to miss. I assume Darryl will have been rehearsing a new version of the schpiel given the taking Cascabel to production cr*p no longer holds any water.

Dbw - good point, I will be tuning in for sure. Maybe we'll see one of the two big pieces of news released tomorrow before the call. Or they might have lined up some good funding news (this would be nothing short of miraculous).

I read this piece in the FT yesterday and Dimon's quote below stuck in the mind:

https://www.ft.com/content/f9d90465-1036-430d-8f54-21d075a7b3ec

In June, Dimon warned of an economic “hurricane”, and on Monday he again encouraged investors to be “very, very cautious”. He added: “If you need money, go raise it.”

We are leaving the funding very late. The lights off bunker down scenario alluded to in the going concern RNS may well become a reality next year as we try and get the business sold.

I'm guessing that investors are reacting to two things: 1) the lack of near term catalysts (I believe the guidance we were provided for an updated resource at Ewoyaa was quite vague, "later this year or at the beginning of next year") 2) the macro economic environment, which simply isn't much good.

In my mind the business is at a bit of a crossroads. We've demonstrated to the market that we have a economically viable (and then some) mine, with an updated resource coming over the next few months. Relations with the Ghanaian government seem good, and I think Len's CV lends itself to ensuring that we keep in-country stakeholders onside.

I also think Len is coming across a bit better in the interviews such as the one posted by Bozi below, but he still doesn't really strike me as the person to take ALL forward long term. I would much rather see the business appoint someone as CEO with a stronger financial and M&A background, which would free up more of Len's time to 1) oversee bringing Ewoyaa online and 2) exploring other prospects, both for ALL and Ricca.

His number 2 and our CFO, Amanda, has been highly competent to date, but doesn't boast much of a mining pedigree, and from what I read has limited experience with capital markets. Are Len and Amanda the best team to extract highest value for shareholders, whether that be via sale of the business or pressing ahead to production?

Keen to hear others thoughts.

No one cares, and no one thinks you have any clue about the direction of the share price, given you were on the sidelines for the big news of last week. Must have hurt Ray, calling it so wrong!

Fort, this entire BB is for shareholders to express their views on SOLG. Wanting to hear from an outfit who does this for a living makes a lot more sense than listening to the likes of you or me on here.

My last post is nonsense and I've had one too many this eve. Too much Rory Sutherland! Atb solgers xx

Does no one else think the Irwin tweet smacks of a little desperation? We’ve assumed for a long time that Mather and Irwin’s silences have indicated a behind the scenes discussion that is positive for shareholders. The opposite could just as well be true. That they as big name investors in mining have ballsed it up and don’t want to draw attention to having done so….

I think the positive is more likely to be true than the negative at the mo, but let’s face it none of us have a scooby.

Bozi, the posts criticising you for having ‘missed out’ do tickle me. Keep it up, you are right after all and have a much better read on what is going on that most IMO.

I am probably more bullish on balance but let’s face it we (as SOLG) are still in a wee bit of a pickle.

BHP and the Japanese to build Cascabel together would be nice.

Sean, next time I am in the city I will stop in and buy you a pint. Spent two weeks there working at COP26 and love the place. Try and get up to Ibrox at least once a season with a pal who is a big Gers fan (I have a soft spot for them as took an interest when Gerrard was in charge).

Also bullish here - I bought a chunk in the 14s, traded out for 10% profit, then got back in just under 16p (separate to the core holding that I don't touch). Going to let it ride now until the AGM. As addicknt said earlier, this time feels different. Not sure I can wait for Godot for another year.

People like Sean, Ray. He rallies the troops, tells it how it is. Takes the **** out of BnC for reasons unknown, knows that this share price generally goes up and down between 19p and 40p. Gets sad when it falls lower. Writes with a Glaswwgian charm and would probably be a good bloke to drink a beer with.

Be more like Sean, Ray.

What you on about Dave? The biggest drop after the going concern RNS was on huge volume. Admittedly the weeks before that volume was low.

Silly horse.

fruitbat.. what a character you are. I reckon you've made a mint trading this over the years. Best of luck and never change.

Up she ticks... Dare I say you wouldn't want to be out of this over the weekend?!

Quady, I will take a look at VRS, not normally my bag, both the sector and the time before a decent payout, but I will do some research nonetheless.

Orthern, I invested in KAV at 2.9p and sold it for around 5p. I am probably going to dip back in early November after they finish drilling what is their most promising license area. The current boss Ben Turney is a bit of a chancer and the moving on of Mike Moles hasn't filled me with much confidence, but think it looks good for a trade (providing they actually find something!). I would consider properly investing for the longer term once Ben goes (I think his days are relatively numbered personally). I know Bozi was and I think still is invested there.

For a 2-3 year hold I am in pretty deep in GGP. The BB is a bit of a nightmare as it has such a huge retail following and bickering worse than here, but management are top drawer and the asset is golden. Us SOLGers will have to find something a little more niche I think.