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Fort,
The only thing that has changed is that Dc has been brought in to make solg as cheap as possible to draw out a bid.
The way I read it is cgp got there way( hence being so quiet) and they will support Nick on a price they both believe achievable/acceptable.
Morning Dbw, yup tin hats for sure in a very volatile market.
Reminds me of days gone by with big swings( traders dream?) Where we would sink but recover by the end of the day.
But trying to ignore the daily sp what do we think Nick can do?
Sell his stake to another major
Put himself back up for the top job
Help with arranging funding( stream)
How many of these options are realistic and could he pull something else out the bag?
I think it's safe to say those invested ( not Bhp, Ncm maybe BR?)are more likely than not to back Nick than current setup no matter what is said on this bb.
Bozi, I'm guessing people's reputations will be fine if the final outcomes is a positive one.
The fact you are still invested says to me you (as i do)believe this will be the case.
So we wait in pain as we watch our paper gains wiped out.
What would not be good is for a raft of pi to sell out when we may need them going forward to stand against bhp tyranny.
Like rRk said yesterday, it does t make sense to talk down your investments.
Just some transparency required , that's all.
And for balance I'm pretty unhappy with many things at solg but choose to stay invested.
If I no longer believed in the story I would sell up and move on leaving the good people to it.
This is not to say a rasing issues is a bad thing but some blatantly take the biscuit.
Looks like accounting mistakes as opposed to someone fiddling?
This misappropriation resulted in the overstatement of our exploration assets by US$4.6 million, with the associated false expenses having been capitalised in-line with SolGold's accounting policy. SolGold concluded that it was appropriate to write-down the value of these assets accordingly and restate our financial statements. The profit and loss impact for the year ended 30 June 2022 amounted to US$227,846, reflecting the fact that most losses were incurred in prior years.
Hypothetical but if SolGold turned round in 4-6 weeks time and said "we can't get the cash in to be a going concern", would the story have changed for you then?
Of course but highly unlikely imo. We have raised in tricky positions before early 2016 if i recall we were down to our last few million.
You say the recent raise is a new development and I say its a continuation of our largest investors rocking the boat.
A matter of perspective maybe.
They have not seen eye to eye since the Franco stream deal and probably before....its not news and imo no change to story.
Some believed removing Nm would improve the relationship between solg and our largest investors, this was never going to be the case.
More importantly why are we running down the clock to our investment commitments?
We don't seem that bothered about this.
I'm guessing if we lost the tenements, they wouldn't be that easy to distribute due to the changes made to appease the indigenous community.
Bozi,
Solg isn't an isolated case.
The story is the same, we need cash and big boys are playing hard ball.
I understand you are feeling a bit jittery so maybe turn off from your device for a while .
Tbh I wouldn't want anything doing in the next few weeks anyway.