Member Info for SharketMare

Nick Mather resigned as NED mere hours before IRR RNS'd the JV...

Some news on the timeline for the demerger would be nice.. and how the company is going to be divided up.

Bought a few of these today - agree that this is a very good entry price. Have been watching for a while and did not expect it to see slip back below 4p.

the route TO production*

That's fair enough Bozi - we're interpreting the same piece of news differently. Personally, I think the inclusion of the term "strategic options" was 1) the first time I've seen this communicated and 2) a signpost to investors that we are now actively exploring opportunities other than financing the route the production for Alpala.

I appreciate that from the RNS itself no *firm* conclusions can be drawn. But I think in combination with WI's comments (who, as mentioned, has a pretty good track record with SOLG predictions) that the business is now seriously considering offloading Cascabel.

Time will tell which one of us is right - I'm not overly fussed either way. Hope you're well.

No Bozi. I'm basing it on this paragraph from the recent, unprecedented RNS on SOLG and CGP working together cooperatively:

"Concurrently with advancing the Cascabel Project, the Parties will explore and evaluate a range of strategic and financing options focused on maximizing value for their respective shareholders with respect to the Cascabel Project."

As I state in my post, this, combined with Warren Irwin's in effect gloating, leads me to believe that it is highly unlikely that SOLG will take Cascabel to production.

"Dart , CGP / Irwin have always made it clear they want Cascabel sold , recently Irwin said they wanted to see this in the near term……. Now they are happy with direction of the company…. You believe this is because we are going to production and they are going to have to stump up hundreds of millions ….. really ?"

This is the clearest piece of evidence IMO that there has been a step change in the strategy. The RNS highlighting "strategic" options combined with Warren Irwin's recent untrammeled glee should indicate to all shareholders that SOLG is not going to be taking Cascabel to production.

To those who are insistent that the business hasn't changed tack and is still heading to production, how do you explain Warren Irwin's - who is 100% transparent about what he wants to happen - recent delight? Do you simply think he is uninformed and/or bluffing? He has, unfortunately, got a pretty strong track record in predicting future events when it comes to SOLG.

To echo David's point, RK I have enjoyed your posts and insight over the last few weeks in particular, but it does leave me somewhat frustrated to see you post about a sale of a chunk of your holding allegedly at the recent high (or thereabouts), only for us to be informed of the trade a few days later after a 10%+ retrace. Personally, I would find it both much more informative (because yes, you do get it right more often than not) and worthy of respect if you told us on the day of the trade, not after the market has decided whether or not it was a shrewd move.

SM

RK, does this mean I don't have to read how firm your bid is when you wake up every morning?

"Retain flexibility and adjust to circumstances" sounds like it's been lifted straight from the Boris Johnson playbook. It translates to me as "don't trust a damn thing I ever have to say about anything".

Good luck and bon weekend to all long term holders of this share.

55PBF

Hello Senderos, we currently produce no copper, gold or silver and won't do so for another ~5-7 years at best (Porvenir may change this). To expect our price to rise in line with mining giants producing vast quantities of those metals is thinking for the birds I'm afraid.

This share will move on:
1) Porvenir drillings results / MRE (my personal belief is that the company will deliver a sizeable tranche of drilling results from across the portfolio in due course, rather than update on a hole-by-hole basis)
2) The revised PFS (due later this year)
3) A takeover bid

We are now well-funded, sitting on the best copper/gold discovery for some time and potentially entering a commodities super-cycle. This share will come good.. have a little patience and ignore the day to day movements. 30p will be a distant memory before the year is out.

Reminds me of what AKGold used to post back in the 1-4p days..

It accompanied the rebranding of the business from RB to Reckitt.

Topped up another £1,000 worth just now, thank you sellers :)

On the JV rumours - whilst I agree that it is likely that Vince is speaking to potential partners for JV or sale of our lithium asset in Ghana, I do not expect to hear anything about this anytime soon. We are still drilling (and have just extended the programme) to expand the resource. Any JV partner worth their salt will have to wait until the programme is completed, assays have returned from the labs and the resource estimate (and economics of the mine) have been updated accordingly. This is because they will inevitably have to do DD on what exactly they will be buying into. Moreoever, we as investors have a vested interest in IRR getting that resource expansion work done before we sell off a % of it to a company that will take it to production - as all signs are pointing to us doubling the size of the resource.

As such, I don't expect to hear anything around a JV until late June/July at the earliest.

Just my two cents.

It would be great if Porvenir does in fact materialise into a Tier 1 asset, and BHP and NCM come to a gentleman's agreement that BHP can develop Alpala through JV with SOLG and NCM can have Porvenir.

Total speculation admittedly, but it would be welcome and happy ending for many people I imagine.

One can only imagine what the SP might reach on Friday

Not2sure- agree with what you are saying. I think 1) Bozi makes good points about exceptional market conditions driving the SP to 48p during the first Li boom and 2) we are undervalued, plain and simple.

There were far fewer shares in issue when we hit 48p, too. I think mike29 crunched the numbers on here not too many weeks back, but 48p back then is around 30p in today's world.

This is where SOLG's investment in and communication around its ESG credentials will pay dividends. In some ways, going it alone and not having the skeletons that most majors have in their closets might help us win over the mining-sceptic communities.