Member Info for SharketMare

"Cash lasts long enough to see gold and copper"

Pie in the sky... not a chance

You do have to wonder where that CRUX report came from because it's looking more and more like they were bang on the money. Alpala by itself is too expensive to mine.

I am now seriously questioning the functioning of this company and as such my investment. Something has gone very very wrong here.

Hi Colonel, as always it's very easy with hindsight to say that exiting at 34p was a shrewd move, although we might have been saying the complete opposite should Porvenir have delivered better results.

I had no doubt after NM left that this was going to trend downwards in the meantime. Investors dislike uncertainty and with NM at the helm for 3 months and no one with any real idea who will take over, and how that will impact strategy, this is going to drift. I do not have the skills (nor the balls) to try and time exit and re-entry points.

Fundamentally, as with all shares in my portfolio I ask myself do I think at some point (within whatever time frame you are investing in) that the SP will be higher than it is today, or it was when it was 34p? For me, the answer is yes, which is why I'm happy to hold and will add more if this drifts back further to early 20s.

Hi redknight. Do you have examples in recent times of companies paying over a 300% premium on the SP to take over an explorer?

Believe what you want Q, but prior to me calling him our yesterday calma had only posted on: SOLG, IRR, KAV, POW and one or two others. He has since posted a lot elsewhere.

WRT him posting on a favourite share of yours... the bloke has an unhealthy obsession with you. I'm hardly suprised.

Guess he just so happened to join the day after earthling disappeared.

I am almost certain he re-registered under the user 'calma'. I called him out yesterday after he made a subtle dig at Quady and he was posting on exactly the same shares as 'earthling'.

Hi Cadell, I agree with your sentiment. I don't understand why some LTHs on here dramatically reduced their positions (after holding for so long, too) when even in the event of the majors getting their way and taking over SOLG for a price deemend 'not fair' or not representative of 'true value' we would still surely be looking at no less than 60p?

Having held through the rollercoaster of the last 12-18 months, you'd think another 6 months or so for like you say, another 50-100% would be the sensible move.

"But we can see NM was not out of favour ( or he wouldn't be staying on )"

Quady, our CEO has just been removed from the company. At first our major shareholders tried to do this through the AGM. They failed.

Now, we do not *know* what has happened behind the scenes, but someone with insider knowledge has leaked to the press that SOLG are planning to replace Nick. This is a hostile act - plain and simple. It was done by someone who does not like Nick, and who may well have wanted to accelerate the timeline for his departure.

I do not think, with the greatest respect, it is possible to maintain as you do above that Nick was not out of favour, given what has transpired over the last few days.

All the best,
SM

Hello Quady, I'm sorry but this:

" Also Nick Mather is not out of favour, or he wouldn't be staying on.
All the rubbish printed over the weekend that NM had to go, was exactly that RUBBISH !"

.. is simply pie in the sky stuff. Why would the company go all-out to ensure Nick kept his job at the AGM if he planned to step aside a few weeks later? It would be an extremely high stakes and risky move to try and oust Nick altogether - he and DGR have considerable holdings in the company. As Nick failed to do with CGP (and the majors) the board recognise that keeping Nick on-side to an extent is going to be important.

As someone pointed out on here earlier, there may well be some feisty board meetings once we have a new CEO and the company's strategy isn't being dictated by Nick. I, like the earlier poster, would not be surprised to see him distance himself further (or be distanced!) from the company before the end of this year.

I think that today's news makes a JV at Alpala much likelier. So yes, we are going to production, but it certainly won't be SOLG going it alone.

Hello earthling (calma), did LSE ban your main account, or have you decided to start afresh?

Still impossible for you to resist a subtle dig at Quady. Seriously, get a life mate.

For those who care - check the posting history of calma (joined Jan 18th) and our resident Quady-obsessive (earthling) and look how remarkably correlated the share chat distribution is...

I'm also sad for Nick.

This can't have been an easy decision for him but he was ultimately left with no choice, and has put the future of the company over his ego.

He has been a fantastic steward of SOLG and many on here owe him a huge amount of gratitude.

Are you okay mate? Not sure whether you have an axe to grind with the company or a poster on here, but could you kindly go away? You're boring.

This is a positive move for those who are happy for this to be taken over for less than a quid (or see a JV that will see the SP rise to 60/70/80p).

For those who were happier to hold onto their shares for several years and hopefully avoid dilution this isn't great.

Zoros, I assume you have a price at which you're willing to sell in mind, and this is why you see this as positive.

hello dunkirk, yes the SP was much higher in 2017 (the heady days when chartists were claiming 80p was on the horizon!) but there were also far fewer shares in issue back then. LTHs have been diluted, frustratingly.

I prefer to think of things in terms of MCAP. I think - but may be wrong - the highest our MCAP reached was around the £120m mark, which today would translate roughly to a SP of 30p.

I am hoping this price is achieved in Q1 of this year when we deliver an MRE at Zaranou and lithium continues its recovery. However, what I really think the SP needs to get a real rocket underneath it is either an asset sale (which looks less likely in the short term with the lithium after today's news) or a JV.

Lots of majors playing in the same park as us in the Ivory Coast...

Hi ivans, this is fairly typical of IRR and there is little to no explanation as to why. It's baffling, and has been for years.

Added this morning to IRR's list of MMs.

I think it was lafitte who said that their sweet spot tends to be corporate rather than retail? And perhaps another poster suggested they work with very few mining companies.

Unsure of the significance but thought it worth sharing the info.

Hope you're all keeping well..

This is interesting for two reasons:

1. Just last week they were added to SOLG's roster of MMs
2. They don't have a huge amount of experience of working with mining companies, or within the retail investor market.

Could be corporate interest. Could be a shift in strategy for them to break mining/retail.

Thanks for the info though
SM

Morning CAR3Y - would you mind sharing which one for us mere mortals without access to L2?

Hi Ang, that is certainly a possibility.

I posited on here in the run up to the expiration of BHP's lock-in that it not impossible for BHP to want to divest from SOLG if it doesn't get its way. I was pretty roundly condemned for that view, but in light of the recent AGM I still do not think it beyond the realms of possibility at all.

Morning Bozi, would you mind elaborating on your point?