Member Info for snowman123

There is a separate document on SEDAR. Look for this:
Nov 19 2021 10:48:13 ET Form of proxy - English

I am looking forward to drink some Solgold coffee when this is all done and dusted :-)

I am also of the opinion there might be some sort of a friendly deal in the making and therefore no new CEO has been announced. In the letter to the shareholder it says: ”The search for a new CEO is well advanced with a final shortlist compiled/a preferred candidate identified.” Having only a shortlist / preferred candidate to me says talks have barely started and the process is not very far along. Is SOLG just buying some time with this statement?

Later in the letter to shareholder in the bit about BHP it says: “…. undermine the advanced process to secure a new CEO …” In my opinion this contradicts the previous statement. Unless making a shortlist means you are advanced in the process.

Anyhow, my own little conspiracy theory. Nice to discuss these while we wait for news. Of course as long as we can keep the discussions respectful.

"Major gold miner Newcrest to acquire Pretium for $2.8 billion"

https://www.kitco.com/news/2021-11-08/Major-gold-miner-Newcrest-to-acquire-Pretium-for-2-8-billion.html

No experience with boardroom politics here and I was rather surprised by clearly stating an external company name in the RNS. As many others I can see the value of solgold and would like to receive some updates. But that could just be my impatience. I am hoping the quarterly update will have some good information.

In my own conspiracy theory the lack of a CEO could have meant a friendly takeover bid. But no evidence for that and that doesn't seem the case anyway. I would actually welcome some sort of bid. If too low it should be rejected, but my reasoning is that it would at least increase the share price.

Thanks The Italian! First of I made the rookie mistake to use 2000 pounds per tonne instead of 2204. And as said earlier I used only the core. But now I understand your calculation and it makes sense. Cheers!

Thanks redknight1. I only used the core, but of course there is a lot more material to be accounted for.

TheItalian, can you share your calculation? I am coming to some different number, but maybe I have calculated wrong.

Using the high grade core of 442MT at 1.4% CuEq it gives 6 188 000 tonne of copper.
0.07 c/p is 140 $/tonne. This gives a value of $ 866 320 000. With 0.732 £/$ this is £ 634 146 240.
Solgold's 85% share is £ 539 024 304.
2 293 820 000 outstanding shares gives a price of 0.23 £/share

Please correct me if I am wrong. And I hope I am wrong :-)

It has been delayed into the following year in the past. See table below showing the date of the AGM for each financial year since 2015. But hopefully it will still be held this year.

FY2015 28.1.2016
FY2016 28.7.2017
FY2017 30.1.2018
FY2018 20.12.2018
FY2019 20.9.2019
FY2020 17.12.2020

I haven't investigated the rewards, but isn't the remuneration package approved during an AGM? If so people will have a chance on the next AGM to change course regarding out of line rewards.

Let's hope it is this year still and it would clear out a few things. Would be nice to have some consistency in timing in having the AGM and quarterly updates going forward.

When can we expect the AGM to take place? Timing has been all over the place in recent years. Announced the date normally about 1 month before the AGM. Below a list of when AGMs have been held for the financial years from 2015 onwards.

FY2015 28.1.2016
FY2016 28.7.2017
FY2017 30.1.2018
FY2018 20.12.2018
FY2019 20.9.2019
FY2020 17.12.2020

This article states 1 share trades are used to manipulate the price down. Reading this board I always thought it was to flag an RNS coming. *mindblown* *sarcasmoff* *backtomynormaldayjob*

But as per advice of this article I will keep on holding.

Thanks Jerryspaniel. I didn't check NC, but their base case numbers as you state them make more sense to me. And then you can show the upside with a sensitivity analysis. Hopefully SolGold will do something similar.
A different discount rate for different parts of the world also makes sense to me.

ColonelDrake, I also see the copper price going up. And was especially surprised by the gold price used. As it is basically today's price. I am no mine finance expert, but I thought in some regulations you had to use the 3-year trailing average. Anyhow, it will be interesting to see the prices used in SolGold's PFS. Although they are probably not much different from the latest MD&A.

Just for the people that are interested I got the average closing prices from macrotrends.net

Cu ($/b)
2021 4.1989
2020 2.8013
2019 2.7218
2018 2.9333

Au ($/Oz)
2021 1798.11
2020 1773.73
2019 1393.34
2018 1268.93

Interesting to follow GGP from the sidelines as I am not invested there. If you look at the numbers it is interesting to see that shareholders are willing to pay more than is justified by the PFS alone. So there is a premium for the potential upside at Havieron. Hopefully that will be the case also when SolGold releases the PFS.

But of course my thinking can be wrong. As far as I can tell there are roughly 4 billion shares in GGP and the PFS shows a 508 MUS$ NPV. This would give a 12.7c or 9.5p share price if the share would take the PFS into account at full value and nothing else. Obviously people believe in the story at the moment and that I think is positive for other (junior) mining companies.

Also note the use of a 4.5% discount rate and US$1,750 Gold and US$4.08Ib Copper price used. I would have expected slightly more conservative numbers and wondering what SolGold will use in their PFS.

Thanks mog999 and BBG. Interesting to follow the M&A in the mining industry. And maybe SolGold will be in the headlines at some point. And if it happens it would be interesting to see if it will be a friendly or hostile takeover bid.

My personal opinion (which is based on no fact whatsoever) is that if there will be a bid of any party it will come after the release of a positive PFS. And in case there will be a bid there might be others bidding. But time will tell.

Don't know if it was already posted here, but BHP is copper hungry as we all already know:

https://www.kitco.com/news/2021-10-04/BHP-in-talks-with-Ivanhoe-report.html

BHP made an investment proposal in 2016. You can refresh your memory here: http://ir.q4europe.com/Tools/newsArticleHTML.aspx?solutionID=3676&customerKey=Solgold&storyID=13656537

Then from the latest company presentation regarding BHP:
September 2018: BHP purchased Guyana Goldfields’s 103m shares @ 26.59p
October 2018: US$59.2m @ 45.00p
November 2019: US$22m @ 22.15p
April 2021: US$10M @ 25.5p