Member Info for SharketMare

cyfalafwr - I'm slightly confused as to why you would sell your IRR shares now and miss out on the free Ricca shares?

To your second point I think there are two factors. 1) Geography as you rightly point out. Whilst Ghana is mining friendly and much safer than much of the rest of the continent, it is still Africa, not Australia or Canada. 2) The investment case as-things-were was not particularly clean. If you are an investor wanting exposure to a proven and highly promising lithium asset, you also have to take on the risk and exploration costs associated with the gold assets (fundraise, potentially poor drill results etc). For a while this acted in IRR's favour as the company was (possibly) seen as well-hedged through its diverse portfolio. Now with the Ewoyaa much further ahead in its development cycle than our other projects, it makes sense to spin it off, rebrand, and get the message out there that this is one of the best lithium plays out there at the moment.

At the start of this year I said I'd be happy with 45p by year-end (much to the ridicule of the £1+ crew). Unfortunately I think I'll be around 3 months out. If ALL doesn't achieve that price before April I'll be very disappointed.

SM

Good spot CD. Whether intentional or not it shows that Ecuador is top of mind. Not long to wait before we see the next chapter unfold here.

BBG - our very own Alex Jones

BBG you write: "Yea they have, and it’s called retaining a consultancy business who then retain you muppets on behalf of their client"

Please can you point me towards any evidence of BHP working with such a consultancy or a consultancy that advertises this as a service?

I'm here all day.

Redknight, just so I am clear you are implying that:

1. Nick was behind the recent Chairman's letter
2. Nick orchestrated the Berry St letter
3. Nick is holding back drilling news

Is that right?

I appreciate your knowledge, expertise and explanations on the director process outlined above, but find your conclusions/speculation a little farfetched (to say the least), unless you are privy to information from your meeting with Elodie and Twiggy that hasn't been shared publicly here.

Catching up on yesterday's news and the reactions on here after a busy 3 days.

To me, it seems we are once again in a position where shareholders have the choice between supporting the company or supporting BHP. Both choices have multiple outcomes.

If we as shareholders support the company, in my opinion we are either voting for:

1) the company continuing to drill and take Alpala to production through debt financing and/or royalty streaming, with some but minimal dilution. I believe that NM wants to turn SOLG into a major miner and continues to have considerable influence over the company and its direction. Fair play to Nick. For shareholders this will mean growth is unlocked through positive drilling results and news of how Alpala will be financed. I think it will be a bumpy ride but long term the payday will be substantial. Many on here are not willing to wait, and neither will BHP. If this is how this plays out I think BHP/NCM will sell their stake in the company as to addicknt's point, they aren't going to care about a paltry stake in a company they have no control over. This may well be very painful for SOLG.

Or

2) the company being sold for what it (and most likely Nick) perceives to be 'fair value'. Again, this will take time and the road will be bumpy. Positive drilling results will unlock growth and help defend a lowball bid. Personally if this does happen I see us selling to a third party in order to give BHP a much deserved bloody nose.

If we as shareholders choose to support BHP and we end up with a BOD who are loyal to them there are two possible scenarios:

1) the company and its assets are carved up for BHP and NCM and sold for some of the speculative lowballs thrown around here - 45p/50p. This is the quick buck crowd's preferred option.

Or

2) we are diluted into oblivion to fund Alpala, allowing BHP and/or NCM to obtain more of the company (they have deeper pockets than old Nick) and then snap up the whole thing for very cheap. I don't think anyone wants this option on this board.

Heading into the AGM, SOLG has banked a flurry of drilling updates which it hopes will give the share price a much needed boost and bolster shareholder support. If that sounds familiar it's because it is - this is almost identical to the situation we found ourselves in last year.

Personally, I think supporting BHP in the hope of a 45p takeover and a quick payday comes with enormous risk, because they may simply decide to go down the dilution route outlined above.

I stated on here earlier this week that there is much going on behind the scenes that us PIs can only speculate about. Well now we know. It's messy and the next few weeks will be fascinating.

I am loathe to support the current BOD after a frustrating year, poor corporate communication, and slow progress. But ultimately I think we have little choice.

SM

Ornthecopper, good spot. From the Tandy MRE RNS though:

"Drilling has continued at the TAM deposit during the estimation process and visual mineralisation from Holes 19-30 suggest potential for future resource growth in the southeast quarter of the open pit optimised shape and particularly in the east and southeast depth extensions of the underground optimised shape where the highest grade mineralisation encountered thus far remains open"

Maybe Twigger was of the opinion that the full campaign ought to be completed before the MRE was issued. And maybe he was right given the reaction from the market.

Something must have caused a change of tactic.

I am increasingly of the belief that we PIs have next to no idea what is going on behind the scenes. There is certainly more to the story than simply what the company tells us via RNS or 121s with some of our regulars. Thing is none of us have a clue, which is why this board is so rife with speculation. My posts included.

Atb
SM

Hi Dava, listing on OTC in the US is akin to listing on AIM in the UK and not the main market. According to your last post you've already invested in IRR on AIM over here, so the OTC listing in the US shouldn't bother you at all.

Separately, the company is about to undergo both a demerger and a rebrand, which will result in two 'pure play' companies - ALL and Ricca in lithium and gold respectively. This will make the 'story' behind both companies much easier to tell, and IMO will result in IRR/ALL becoming more attractive to funds, and potentially to lithium ETFs.

The teething pains of the demerger (which so far appear to have been a sharp, unsubstantiated and short-lived sell off on the day) will be a distant memory when the market starts to recognise true value of what we are sitting on in Ghana. This stock at this price is a no brainer, it will do multiples of this SP over the next 6-9 months.

munchbox54, 8.07am
"can see me buying more at 15p. psss poor VM as usual ."

munchbox54, 8.27pm
"Answer is the stand alone company he thinks should be valued at 3-4x today’s value. Looking forward here. Watch Piedmont buy shares on the open market. Expect 20p very quickly"

Tells you all you need to know about the credibility of this poster.

Hi Bozi, RE the point on choosing not the list the gold now. As we are (long) overdue the MRE at Zaranou, I am wondering whether the business has bought itself some more time to prove up the surrounding targets so that it has a much more substantial MRE to shop around at IPO time.

Personally see today's news as welcome as we now have transparency over the future of our investment with accompanying timelines.
- Company to be demerged into publicly listed Atlantic Lithium Limited (ALL) and delisted Ricca Resources Limited
- ALL to be dual listed on AIM and OTCQX (North America)
- ALL to become a much more attractive investment (vs IRR) to those who want exposure to lithium, including instis, funds & ETFs
- Ricca to raise almost equivalent cash being siphoned from IRR (AUD 7m vs AUS 7.1m) with shareholders of Ricca invited to take part in the capital raise
- Whilst the above I hold to be known, I would strongly speculate that Ricca will list at some point next year following further progress with its drilling campaigns (and I'd hope for a welcome return on the shares we're getting there)

There may be a few teething pains over the next couple of months but mid to long term this remains an excellent investment.

If any of the above is inaccurate I welcome corrections!

All best
SM

Good and reasonable approach rcgl2. AGM agenda will be revealing.

BBG, how about you address the points raised in the post rather that waffle on like the loon you are. You come out with some half decent and insightful stuff but it's mired by the paranoia and absurd accusations of agendas. Can't you just accept that people have differing points of view and engage in polite discussion? I've 'known' Bozi for years - we both have opinions on what's going on at SOLG and we disagree - and that's not a problem because we're adults.

Grow up.

Hi again Bozi, depending on how much you believe his posts (and I do believe what RK posts even if I disagree with the way in which he positioned it, and the way in which the company is choosing to engage him), redknight stated the below:

"while I still think much has been achieved in the last year, especially on CG, there are still some key actions to be completed and the AGM could be challenging while 'the elephant remains in the room'..."

If we're dealing in facts we have:

1. Berry St publicly raising concerns over NM and governance
2. No CEO in place during pivotal period for SOLG
3. The above from RK which I think we can safely say is about Nick
4. Fawzi's choosing not to refute/deny TheItalian's question about Nick & his influence

We're far beyond the point of speculation - things are clearly still not right at the top of SOLG towers.

Hi Bozi, broadly agree with your sentiments here and have probably been guilty myself of the speculation around Nick. What I would say in response is that referring to it as 'pathetic unsubstantiated tosh' might be a little strong. One of our institutional shareholders has mentioned him by name in an RNS of their own expressing concern around corporate governance. I would be amazed if they have done this if this wasn't indicative of broader sentiment on the street. The company is also courting major shareholders on a corporate governance roadshow that only really came to light through RK's relationship with the business. We can only really speculate on what the real purpose of this is. Finally, TheItalian emailed Fawzi directly regarding Mather and his influence and received a response that dodged the question - this in itself is quite telling IMO.

What I am struggling with is how this tallies up with CGP's apparent contentment with how the company is being run and the RNS of June 2nd this year expressing a more positive working relationship. (https://www.lse.co.uk/rns/SOLG/solgold-cornerstone-agree-to-work-cooperatively-f95hmggtv02ztca.html). I guess that was 4 months ago. It will be interesting to see if anything extraordinary is tabled at this year's AGM.

It's a puzzle at the moment for me, both fascinating and frustrating. I am coming round to the view that we won't see a bid before more and very substantial dilution, allowing BHP/NCM to increase their control over the company and dilute Mather, who will not be able to go toe-to-toe with these guys for much longer. It's speculated on the Telegram group that Mather, DGR and Tencent are reducing their exposure to IRR, perhaps in preparation for an upcoming capital raise here. We just don't know. Dependent on market reaction to the PFS, I may well sell up here and look elsewhere as I get the impression that a many manhours are being wasted on issues unrelated to the advancement of the company and its assets.

All best
SM

Ship, News is quite active on the IRR board - very insightful posts if a little dense to work through.

BBG - great spot. Looking through Andywest's posting history you could quite easily play a game of 'who said it' redknight or Andywest.

I appreciate much of the ire has been directed at the board today, but I don't think RK did him or this BB any favours when he stated that he'd been asked not to share the content of the conversation because it "could be market sensitive...". The board need to buck their ideas up and RK needs to be more choiceful with his own words in my opinion. LunchMoney's summary earlier today was spot on.

Good evening all, have just caught up on the day's events and to me one thing is now patently clear: the corporate governance roadshow was necessary because this BOD haven't got a clue what they are playing at.

- We have failed to find a CEO at a pivotal time in the company's development, probably down to the fact that the former ousted CEO is on the f*cking nominations committee

- We have our Chairman and other senior management spending what is in my opinion an unreasonable amount of time entertaining a bloke who holds £450k of shares (allegedly), knowing he is an active poster on a chat forum forum then asking him not to repeat any of it (honestly, given the clusterf*ck of this board today and Fawzi having to deny any MNPI was disclosed via email, it's hard to see this as anything but unprofessional and misguided)

- We have institutional shareholders openly criticising the company for poor corporate governance

- We have an NED who is at loggerheads with our main shareholders who holds a chunk of the company and clearly still has far too much influence over how the company is run, despite being booted as CEO

So this roadshow comes as no surprise to me whatsoever. To echo DBW's earlier posts, the sooner this is sold off to a proper business the better. I'm genuinely concerned that my investment is no longer in competent hands and thank god for the fact that the asset we have is guaranteed to end up in the hands of a major mining company.

All best
SM

On the fifth day of Christmas the company said to me:
"Fiiiive Ti-er Ones! Four joint ventures, Three PFS, Two MREs, and a CEO imminent-ly"

We live in hope.

RE Quady Fri 17.37 - do you use Bing?

Explains a lot...

Addicknt - completely agree.