Member Info for SharketMare

Orthern, I think we should take a BB vote on which stock to buy after SOLG gets bought out. Preferably one with a BOD as opaque as the current lot so we can sit around arguing about what's going on few another few years.

Quady, am nursing a hell of a hangover and admittedly being trite.

I am reading a good book at the moment by Rory Sutherland, called Alchemy. It's about the pitfalls of thinking too rationally and logically to explain the world as we see it, to the detriment of what he calls 'magic'. I definitely fall into this trap, so it's been a real eye opener.

Have a good day fella.

addicknt, you said in an earlier post something along the lines of "this time it feels different". I/you/we all have said this for at least the last two years as we headed in to the AGM. This year the difference, for me at least, is two-fold.

1) the funding situation, which is unprecedented since I've been invested here
2) the silence from major shareholders who are set to either win or lose big here despite the decimation of the share price

If I genuinely thought the company was just planning on releasing the PEA and revised PFS and continuing BAU into next year I'd be 1) f*cking livid at the mismanagement this year and 2) looking for a swift exit

Thankfully it's now pretty clear something is brewing and we at long last will have one of NM's "exit points" presented to us before long.

"So as I said don't get Hung up about shareholder value as that is not in Solgolds hands or Indeed anyone elses."

Comedy gold, second only to "the share price is doesn't matter" from this 'seasoned investor'.

Colonel, agree with all that.

Lunch, I have tried to post a bit less as of late because of the state of the board, but also because I believe the latest MD&A (which I have read) isn't really worthy of comment.

I don't expect the company to fundraise before the AGM anymore (if they were going to raise via equity it would have been done by now and I don't think a royalty agreement is on the cards). I think management are planning on pulling a rabbit out of the hat that will change SOLG significantly. It may cease to exist altogether. This is why I think the latest doc is essentially moot.

The company and its major shareholders are far too quiet given the difficult situation we find ourselves in, to the point of borderline negligence. Something will budge over the next few weeks. Shareholders will likely be given something to vote on and at that point we can take stock.

I do continue to read with interest your factual analysis.

JBarnum, it was announced that Mark Barnaba, deputy Chairman of Fortescue will replace Alex starting from Jan 2023.

https://www.lse.co.uk/rns/GGP/transformational-appointments-to-the-board-lc65akrxuao342r.html

Akin to swapping Andy Carroll for Haaland.

MassiveRay, lest we forget, you predicted a spike up to 25p followed by a placing at 20p. Just one of the many things you've called wrong while pretending you're some sort of oracle. You're a chancer and a highly unlikeable one at that. This BB has become pretty much unusable because of your obsession with Novice and constant spam here. 178 posts in the last 30 days and not one of them useful.

Share price might go up or down - thanks Dave. Any views on the sun rising tomorrow?

Well someone looks confident - taking 880,000 shares @ 15.32p, assuming that was a buy.

Excellent work from team ALL to secure quality coverage such as this.

https://www.reuters.com/article/ghana-mining-lithium/atlantic-lithiums-ghana-mine-poised-to-begin-production-by-2024-idUSKBN2QV0NQ

Good weekend all.

Fort, what I'm getting at is that he might have stuck a couple of old boys in place who won't be overly fussed if they're out of a job in the next month or two. Unlike employees like Holmes and Whistler who I imagine will be working for a few years yet!

Will be interesting to see if and when they are replaced. I will have a look now and see if SOLG are hiring.

Another thing that has been playing on my mind the last few weeks are the new execs we've brought on.

Steven Botts has already clocked up 40 years in mining. Bernie Loyer 35 (and hasn't even bothered to update his LinkedIn to show he's working at SOLG). Keith Pollocks is relative spring chicken, but even he has a good 20+ years as an accomplished money man under his belt.

Does this group - particularly Botts and Loyer - really have it in them to bring a new Tier 1 online over the next 7 years?

Loyer did 15 years at BHP and overlapped with Darryl. Pollocks worked for a coal mining company around the time Darryl C was promoted from Head of Coal to Group Exec of APAC at Orica. I'd say there's a fair chance their paths crossed at some point, especially as they then both spent the next 4 years based out of Melbourne.

It does feel a bit 'jobs for the boys' to me, particularly when you consider we've turfed out all of the old finance and exploration guys, one of whom mentioned a 'change in strategy' when he left.

Perhaps there is an outcome on the horizon whereby SOLG sells off / gives back the majority of its regional exploration portfolio and agrees a JV with BHP and/or NCM for Cascabel, with exits provided to Mather and Cornerstone through acquisition of their respective stakes in ENSA.

This would allow the company to focus on bringing Cascabel online, with Mather and CGP out of the way, and the show being run by BHP and/or NCM, and SOLG retaining a minority stake.

It doesn't seem feasible for Cascabel and the rest to be managed by one company, particularly a company of SOLG's size. The former is arguably too much for SOLG to handle on its own as it is.

Given the history, it seems hard to believe that in 7 years time, BHP, NCM and Nick Mather are all going to be raising a glass to first pour at Cascabel, don't you think? It seems like a mutually beneficial outcome for all for the majors to build Cascabel and for Nick to either retire or do what he does best - exploration.

Pure speculation, but it is Friday.

Hi Culpepper, SD is disappointed with where the share price is. He believes that the recent debt/equity financing and board appointments should have us pegged much higher than where we are now.

It is hard to put too fine a point on this, but the money markets for companies like us are extremely tough at the moment. He mentioned the example of SOLG, who in his words recently went to market and failed to raise funds. GGP were very keen to avoid that type of situation. Equities more broadly are struggling because of macroeconomic factors, and commodity demand and prices (with the exception perhaps of lithium) have both fallen off in Q3. This (in my opinion) will be the toughest few months the company has to weather before things turn around - but we will be doing so from a position of strength, with cash in the bank and a board of superstars joining from Jan 1st "maybe earlier" (quote from last night).

As has been the case for a while, it's about switching off from day-to-day price action and adding to your position here when possible, if you are underwater and have faith in the board to deliver mid to long term.

I personally don't buy into the manipulation theory (I think that is where I have had disagreements with some on this BB previously) and it wasn't mentioned at all last night.

Popsicle - great dinner thank you, my dining companions had been propping up the bar at the Three Tuns, so it was a jovial affair...

One other thing from tonight that stuck with me was how often Fortescue came up. I think SD has aspirations to follow in the footsteps of Twiggy and build a multi billion dollar mining company. He has already built a reputation as a guy who delivers for shareholders (the Sprott report really hammered this home for me), and if he manages to turn GGP into a major he will have some legacy.

The board appointments speak to this. Who better to help turn GGP into the next Fortescue than their deputy chair and former CEO. And what was it SD noted (with a wry smile) when telling the story of the AFR report on the equity and debt financing? Oh yes, that they printed a picture of Twiggy and not him...

Evening all, noting down my thoughts from tonight's event which is still ongoing. I have dinner plans and couldn't stay for drinks and sandwiches with the rest.

- There is a clear 3 pillared strategy for GGP to create shareholder value:
1. Developing Hav
2. Exploration
3. JVs/Strategic Partnerships/Acquisition

My takeaway from tonight was that SD's focus - given his background - is going to be on #3. NCM are running the show on #1 and #2 will (rightly) sit with the geologists. With acquisitions, there is a clear preference for an asset that is either cash generating or one with a clear path to free cash flow, but he is not going to be rushing into anything - we are now looking at the market from a position of strength.

- SD inherited an utter mess from Gervais Heddle. The fact that in 12 months he has managed to transform our collective fortunes is nothing short of remarkable. Make no mistake, we were on the ropes and he has navigated us through in his own words an 'existential crisis' for GGP. Yes, it has come at a cost (dilution), but we are a much, much stronger company today than we were when he took over.

- The money markets are extremely tough for junior and mid cap explorers at the moment. My take away was that NCM gambled when refusing the 5% option, thinking that GGP would struggle to raise requisite finance and would be ripe for a hostile takeover. SD had been planning the debt and equity package for 12 months as he was all too aware of the risk. He has played an absolute blinder.

- Once the tide turns here (and it will!) I think we should all expect a share consolidation given the huge number of shares in issue.

- Relations with NCM and SD's relationship with SB is good. I think there is a genuine, mutual respect there. Of course there will be more that SD would share behind closed doors, but ultimately they are two CEOs acting in the interests of their respective shareholders. Why SB didn't take him up on the $85m buyback will remain a mystery for all.

Finally, bamps and panama, it was lovely to meet you both briefly at the end. Such a breath of fresh air to put faces to names and leave the children on here to it.

I have never felt more confident in my investment here. The future is extremely bright - Shaun Day is THE man.

SM

addicknt, who needs one when - in the words of the orcale earlier - "the finance will take care of itself".

GoneRogue that's my understanding of it too. Either the spread has to be pretty decent or you are trading decent money for it to be worth the time of day.

Colonel, I try and take in information from a variety of sources when trying to work out what is going on with SOLG, because communication directly from the company is on the whole, dire. These include:

- Company RNS
- SOLG news in respected titles
- Verbatim quotes from SOLG employees
- Emails or other forms of communication from SOLG employees
- Comments from mining industry analysts, investors and executives on SOLG
- Comments on this BB
- Information from posters who have built relationships with SOLG employees

Taking into account the above, and all that has been said and written about the fundraising attempt, I am pretty confident in my point of view. I've also said that I accept there are differences of opinion - a good and healthy part of any BB. I do post on here to correct what I see as wrong information (e.g. my post to you earlier on the structure of the fundraise that wasn't), but only do so when I have evidence to back it up.

I maintain that it's because of the smoke and mirrors approach that SOLG has long taken to communicating with investors that this BB is 1) so active 2) has such a range of viewpoints about what the hell is actually going on.

Atb
SM