Member Info for SharketMare

Quady - the word 'overpay' is subjective and almost devoid of any meaning in Mike Henry's statement. Please stop clinging on to it like it has any relevance to the situation here at all.

Hi Bozi, I think the demerger will be important for IRR. At present, the investment case for institutions isn't particularly clear - what exactly are they buying with IRR? A fully funded Li project in one of the safest jurisdictions (both from a security and from a regulatory standpoint) in Africa (though let's not kid ourselves, if we were sat in Australia this would be even more appealing), a gold project in relative infancy in CDI (the fact that the MRE is yet to be released doesn't fill me with utmost confidence, though results to date have been good), and some prospective licenses in Chad - which I think will be on the backburner for some time. It's a bit messy - and the company must recognize this hence the desire to demerge.

Once we've established IRR as a pure play lithium company I think we will see increased interest from institutions, the company may be included in a few more ETFs / trackers. I'm hoping that this will really put a rocket under the share price, as I can't for the life of me work out why we are still so criminally undervalued.

Hope you are well
SM

The appointment of the CEO might well be the most exciting and telling RNS we get this year! Looking forward to it.

Unluckyme - you didn't clock the sarcasm in the OP's post and now you're trying to backtrack and say it was about his 'dialect' - whatever that means. His post is trolling, not sensible as you described.

Separately - can we please just stop engaging with this idiot and he will probably go away? 17 replies to his post and counting... The guy has no idea what he's on about.

Fairly nonplussed by this morning's news. 2021 has been a pretty dire year to date for SOLG. Where is the Porvenir MRE we were promised? Why have we heard so little of Tandy when it is of such strategic importance to Alpala and the revised PFS? Why do we still not have a new CEO, 8 months after it was announced the last one was off? @redknight - you were told it was a case of dotting Is and crossing Ts over a month ago now - how long is this bloody contract?

I think the post Zoros shared below is probably not a million miles away from the situation... I used to think that SOLG was one of the strongest plays in my PF, now I feel it's a case of all or nothing based upon the PFS that I am hoping we still get to see this side of 2022. The company HAS to deliver that on time for this year to be considered anything but failure.

Grumpy SM.

BBG: "I get the sense that they are somewhat connected/associated to Blackrock. I'd like to make a few phone calls in order investigate and understand who Blackrock are lending securities too....

We should also spend 5 minutes investigating if Quady and Ssmith trader arrived around the time Blackrock arrived on the scene.."

How does one gain exposure on the market to tin foil hats?

Is that directed at me Bubble? No theory or prediction here.

My point really is that a JV might be preferable for BHP because of the equity SOLG has built with the government and the Ecuadorian people in the communities in which it operates. This is a clear value add to any partnership. BHP - like almost every major miner - has a chequered past (Samarco might not be next door but it's on the same continent at least) and in a country that has historically shunned mining like Ecuador, opposition to any mine being built might be more vociferous because of this. Having a compny without the baggage that has operated in-country for several years and done a fairly good job to date as a partner is beneficial.

The below isn't clear - I mean the value of the relationship between SOLG and the government.

"addicknt - it is SOLG who holds the permits in Ecuador, not BHP or NCM. Yes, the Ecuadorian government will be acutely aware of our two major shareholders, but I would not underestimate the value of the work that has been done to build harmonious relations between the two. They know SOLG, they know OF BHP and NCM.

@Byron - honestly mate, if you think that the messages posted on the LSE BB of a £650m company are going to have any impact on takeover talks, take a break from your computer and maybe from investing altogether. The idea that any of the posters on here are paid to talk down a share (or that anyone would ever think it worth spending money on such a futile activity) is totally bat****.

I don't discount shares being manipulated with blockers/by bigger holders. But the dross that is posted on this forum isn't making one iota of difference.

redknight, how do you square what you've just said - which is essentially that SOLG have no intention of JV & are going to take Alpala to production - with CGP top brass being happy with the direction of the company and current SOLG management. You admit yourself they will not be in a position to stump up the cash they would owe should we take this route. Why are they so content?

Some good and dare I say it courteous discussion on this board today!

Jerry - I am inclined to go along with your cynicism that there isn't a new CEO being lined up, that we're waiting for PFS to be delivered and then this will go for far less than it should have done. If you were being even more cynical, you could argue that the Porvenir MRE (wasn't this at one point going to Q2 2021?) has been pushed back by design to allow for SOLG to be taken out based upon the Alpala valuation alone. I agree with Bozi that this would be a shocking result and an insult to PIs who have held on through thick and thin.

DWB - fully agree with your post @ 11.50 today. CGP want their payday and the fact that they are so content with the direction of the company and new management has to mean that this is where we are headed.

For what it's worth, I think that at such a pivotal time in the company's development (releasing the updated PFS that HAS to be correct, funding Alpala to production/flogging Alpala/entering into a JV with a major) it is frankly ludicrous that we still do not have a CEO defining our business strategy and steering the ship. It has been 6 months since Nick was ousted - the fact that we are still without a new CEO to me shows how desperate they were to get rid of him. They did so without a successor lined up.

Unfortunately have been struck down with COVID and therefore asleep for the best part of day. Logging on to see a post that is by a country mile the most ludicrous this board has seen to date from BBG has brought a smile to this weary face. Managing to unite the posters you mention in agreement is really quite something. Lay off the wacky backy or whatever it is you're smoking buddy.

SM

Hi D220 - for me its confirmation that we are sitting on massive sulphides that will propel this to approx 100m MCAP. If we start to see grades that indicate this an economically viable project then the sky really is the limit.

Given the potential size of what we are currently drilling I do not think that 20-25p on positive results is beyond the realms of possibility here.

@NorEsCo - no one here is a loser until they sell for a loss. Personally, I wouldn't be in the slightest bit surprised to see this as a classic case of AIM shenanigans - the exclusivity agreement ends, the SP tanks, the city boys load up and we strike a deal next week or week after.

I've doubled my holding this morning on the drop.

The value accredited to SOLG at the moment is almost entirely down to the world class deposit at Alpala / the broader Cascabel region. After the PFS balls up in Q4 last year which resulted in NM being dethroned, there are still questions over how SOLG plans on getting the shiny stuff out the ground, and how they intend to fund whichever process they land on.

My personal opinion is that once the revised PFS is delivered this year (heaven forbid if it is delayed), we will see some corporate action either that will unlock further value for shareholders. At that point I will be looking to sell up and leave them to it. Agree with other sentiment on here that we feel rudderless at the moment and the honeymoon/grace period that new management were given is well and truly over.

@swest42 - for me it's uncertainty around the demerger. We haven't had any detail other than it's what the business wants to do. It will have implications for funding, for our long standing backers (Assore, Sumitomo), and for the governments of Ghana, CDI and Chad. It's a tricky balancing act.