Member Info for SharketMare

Just a quick reminder, we recently sacked the person who was responsible for putting together the financing package for Alpala, who highlighted a 'change of strategy' as his reason for leaving.

redknight - reposting here as the last thread was deleted (inevitably).

Fair enough red, my worry is that as the market knows a fundraise is coming we run the risk of investors not attributing fair value to the updates. As we know, the SP has declined considerably since it became apparent that our major shareholders are at loggerheads on the way forward, and we had to pull back from our CEO's preferred method of raising funds.

I appreciate I must sound like a broken record, but things are very clearly not good at the top of the tree at SOLG, and for investors - both current and prospective - that is rightly a serious concern.

While the cloud of uncertainty hangs over the company it's hard to see any real share price appreciation, but that's just my - admittedly pessimistic - view.

mrahman - possibly because of the greater number of shares in issue if/when the funding plans get rubberstamped at the AGM.

They have given away a fair few freebies. But in return SD has brought on 3 mining bosses who know how to go toe-to-toe with the big boys and turn a junior exploration company into a producing major. Whilst PIs will be miffed, the likes of Sprott and institutional investors will be absolutely beaming, and ultimately, the shareholder register needs more of those types for long term support and share price stability.

Now is the time to line your pockets alongside the likes of Twiggy and enjoy the ride.

I'd add to Bozi's post below - Norges are in a position where they can invest and wait. They are buying into a monster Tier 1 asset that will, some day, come into production. Whether that is by BHP on an accelerated timeline, or by SOLG in 2029 (best case scenario), they probably aren't overly fussed.

Bar one poster on here, I don't think most PIs are investing into SOLG today to wait 7 years for first ore.

Fort, we both know GGP was massively overvalued throughout the 30s and 20s - a combination of retail investor hype and people sat at home ploughing money into stocks during COVID times.

Shaun Day inherited a nightmare scenario after GH sold up and left him with that nightmare 5% issue to resolve. GGP's share price tracked back to one that was much more reasonable for what the market KNEW was in the ground, and what % GGP owned. SD has got a fundraise away after the company was starting to look vulnerable and NCM didn't take up the 5%, much to everyone's surprise. He has now stuck 3 serious Directors on the board, and secured funding through to production. I think he has played an absolute blinder.

red, there's FA to discuss.

Sharepad issues:

https://twitter.com/10to15percent/status/1569222400532684800?s=20&t=qdze7FdwMjGwtv8bEk7njA

Dbw, I read a few bits and pieces on Twitter this morning about issues with Sharepad. Similarly, I was pretty shocked this morning to log onto ii and see the value of my ISA and trading account had dipped by 66%, with a couple of shares showing at nil value, and others at prices far lower than the actual bid. Thankfully just a glitch....

@JamesParsnips - you've been invested for less than 2 hours and you feel this share has been a 'let down'?

Today's news is transformational and derisks the proposition here massively.

Grow up.

bankrupty, I think you might have to download it as an app on your phone first. It works similarly to WhatsApp.

Fort - that is what I'm hoping for. That the radio silence following the botched fundraise is because they're now sat around the table hammering out a deal to be put to a vote at the AGM.

If by 'fried' you mean closing positions and banking profits, then yes, potentially.

Jerry, they are like chalk and cheese. Shaun comes across as totally credible, honest, transparent - he tells it how it is and doesn't really sugar coat. Clear roadmap and today demonstrates he gets things done.

SOLG can't seem to raise $50m to keep the lights on.

addicknt, your general point is of course bang on. I am happier to be a GGP shareholder today than I am a SOLG shareholder.

Iseo, agreed - that was my reading. So they've given up approx 10% of the 30% (3%) which might rise to approx 15% if Wyloo take up their options (4.5%). Better than if we'd sold the 5% to Newcrest for $85m or whatever it was.

Add, how did you calc the extra 10%? I might be wrong but wasn't how I read the funding RNS this morning.

That is some options package for our new recruits... at a half decent price though.

Shaun Day continues to set us up for long term success. Full faith in this guy to make all shareholders some good coin.

bankrupty, that's twice now you've speculated that the last RNS was leaked, or 'the market' mistakenly thought it was the PFS. Look at the dates listed in the timeline in the Dual Listing Replacement Perspective:

https://www.lse.co.uk/rns/ALL/lodgement-of-dual-listing-replacement-prospectus-o2cotvt5748uzkc.html

We were always going to get an RNS stating that the offer had been closed and whether or not it was fully taken up. So *maybe* you could speculate that some traders were buying in anticipation of that notification. But I highly doubt it. think traders are buying in in anticipation of the PFS and ASX listings. That's why we've seen sustained buying over the last 5 trading days, including on Friday, the day after the RNS.

Separately, it's worth noting that the offer closing date was meant to be September 5th, but as per the RNS, it closed on the 8th. However, the company states it will still start trading as A11 on the 26th.

Sometimes the most simple explanations are the right ones. Nothing was leaked to the market, people are just buying into a great story and a great stock.

What a strong end to the week for ALL. Hopefully a transformative 3 weeks ahead of us. Good luck all.