Member Info for Strider4

Should read: "and unfortunately, and far more importantly than the 10 million odd being given to directors at the next AGM, for which there is a chance to vote, is the 85 million (from memory) given to employees, which is done and dusted now (that was done at a previous AGM - no idea how they managed to get away with such a high cap) and leaves a bad taste."

Shipright, ref the permitting, you had me excited there a minute, so I hopped along to page 33 and lo and behold there it is "permitting". But that permitting is to do with Alpala.

The permitting I was asking about was drill permits. So, unfortunately my question remains unanswered.

Ran out of characters there.

My final statement was: and unfortunately, and far more importantly than the 10 million odd being given to directors at the next AGM, for which there is a chance to vote (that was done at a previous AGM - no idea how they managed to get away with such a high cap), is the 85 million (from memory) given to employees, which is done and dusted now and leaves a bad taste.

Shipright, I emailed Karl today requesting a form.

I am not against options per se, as appropriate incentivisation is important. I firmly believe however that the number of options that have been thrown around like confetti is outrageous, and I will be voting accordingly. Frankly, not one of your arguments stands up:

"No one asked about options as most people believe they are well deserved"

Perhaps - I can't comment. Those of you who are in from 2p and 4p, no doubt couldn't care less - you're sitting pretty. But there has to be an investment case going forwards for new money. So far, NM has done nothing for me with my average of 38.6p. So far he has done nothing for BHP at 45p and nothing for Newcrests 41p etc etc. And from here on in those who invest are not interested in seeing extortionate rewards for past performance.

"especially for the locals."

Why especially for the locals? Why the differentiation?

"Boss pays minimum wage"

Considering all of the effort SOLG are putting into stakeholder engagement I highly doubt the locals are being paid minimum wage! Far more likely they are getting paid a very healthy salary, by local standards.

"It doesn't matter if the options make the local workers richer than their wildest dreams, it's their country and they are the people on the ground skinning their knuckles breaking cores up while we sit here making our poor little fingers sore divulging our hastily considered thoughts."

Please, they are geologists - that is what geologists do (well it's a touch more complex than that but never mind). You could say that about any job that requires physical activity - it's ludicrous. As for the "it's their country" line, please. So, these 50 odd geologists own the country do they? What about all of the other people in the region - should they be given a shedload of options too? It's their country too...

"The company is doing all it can to make sure shareholders get to make their voices heard including getting volunteers (me) to help put the word out."

Funny, Karl must have missed my email about options, that I also printed on this BB, about a month ago, as I never got a response.

"Think carefully before you deny them their rewards. If you heard the webinar you MUST have heard how knackerd NM is and how tired of answering the same questions. Maybe the support of the shareholders is needed."

Even if, and I doubt it will happen, items 7-13 don't get passed and NM doesn't get another 5 million options, guess what, he got 4 million last year and he gets paid $400k aussie as a basic salary. If he had allocated himself fewer options with a more reasonable strike/expiry I might have voted for them.

And finally, the one thing we agree on. Yes, I did note that NM was tired, and yes I did appreciate the effort he put in. But no I don't appreciate it to the tune of 5 million options at 60p with a 3 year expiry.

Ok, so finally listened to the webinar - took the plunge and gave out my email and agreed to recieve future communications! You couldn't opt out of it - surely that's not in keeping with latest regs?!

Overall, I was thoroughly impressed. Nick adds a lot more meat to the bone than you'll pick up from the pdfs alone. I liked the more informal feel; it was down-to-earth and straight talking.

I note that there was no question, or it was not answered, about options! Also, a shame we didn't get more on when he expected the drill permits to come through, although he might have had to play that one carefully and be vague anyway.

It is certainly an exciting proposition to hear him talk about a copper province and SOLG becoming a Major. Personally, I feel it's entirely possible they can pull it off. Now, my feeling throughout was that Nick genuinely does want to see this become a Major. That was until the last question, when I changed my mind. If one of the majors offers a "fabulous" price for the company, I'm convinced Nick will take it. Of course, he hastens to add that they will dismiss "silly low valuations". So, unless they get that offer that they can't refuse it's all systems go. Having heard all he has to say, I'm in two minds as to which I prefer! And that is saying something - I'm saying I might sacrifice a very healthy profit now (ish) for a potentially enourmous one down the line. If SOLG can get Alpala up and running more or less independently then it will be gravy from there on in.

It was excellent to hear plenty of details about their engagement in the community. The approach seems to be going down very well, and I can see why. JW nipping any problems in the bud early, with the most critical of the locals forming the company's enviro team - good stuff. This will all pay huge dividends when it comes to permitting and negotiating fiscals with the gov.

It was good to hear Nick expand on what he meant by the "blueprint". It means same province (ease of moving drill rigs, company HQ, personel), same jurisdiction (gov. relations that have been built over a number of years), same geological models (the Alpala learning curve will result in greater efficiency going forward), same workforce (that they've spent ages training up). All quite compelling.

Agree with all of that. I too have what for me is serious money in here (75% of my portfolio) as do, I believe, most of the regular posters.

"We are on a very positive path with Solg, can’t remember a negative RNS. SP will follow upwards - no idea on when that will happen - but I’ve backed my confidence on that with some serious money - I get a bit wobbly when we dip (human nature) but end game is extremely positive. £+ here is my prediction and I have an inclination that the final SP could be a great deal higher than many even hazard a guess at - how long ? Who knows but I’m willing to wait."

I'll second that DG. I rate Addicknt as the best poster on here currently. I also appreciate Schlem's research and Jerryspaniel comes up with some decent insights too.

why NM has our best interests at heart.

And and aside: 38 millions reasons why SOLG have sway over the only drilling company in town.

Thanks, looks like I have to register to view it...that's really annoying - I hate giving my email away to these third parties.

Does anyone have links to any of the recent presentations/webinar (recordings rather than pdfs)?

Lol zoros - what a bleak picture you paint! Yes, you're right, we're on the verge of a disaster and NM is about to kick his clogs...not.

Ok thanks.

Did they mention if its possible to view the webinar retrospectively for those that missed it or would like to watch it again?

I would say of the two opinions, Addicknt's is the more likely given that NM is 62 years old and the only way he is going to monetise his millions is via a reasonably priced takeover.

KB007 - never mind all that. I've been stirred to open up the actual RNS to find out. The presentation is slightly misleading, in that it is wrong for the next 7 months, at which point it will become right again! Newcrest's anti-dilutionary rights are only active until the end of August 2019...we may well see some action from them at that stage, if not before.

"As part of securing this placement, SolGold has agreed to a revision to the subscription agreement with Newcrest Mining Ltd to include an anti-dilutionary right to participate in any new equity raisings for a period of 12 months at a level of 14.54%. Â After this 12 month term, the terms of the original subscription agreement with Newcrest dated 30 August 2016 continue, providing Newcrest with anti-dilutionary rights at a 10% level until 30 August 2019.

The agreement also provides that Newcrest agrees to support certain transactions including change of control transactions in SolGold which are recommended by the Board, supported by an independent evaluation, and by not less than 60% of the Company in acceptances or at a General Meeting of shareholders".

NM categorically stated that there would be no JVs, so it's go it alone or sell the lot (whatever the "lot" is) for the "right" price (the price that NM has in his head...>$3.5 billion).

Ok, that's fine - then it's the presentation, stating 10%, that is wrong and needs updating surely?

FR, we keep going over the same tired arguments. Yes "there has been no discussion about that" (BHP buying the company) - now dated 3 weeks ago (or so). That was then and this is now. Self-evidently the phone could ring at any time, and BHP have show they can act both quickly and "efficiently" (NM's words).

And another word on takeovers in general. It is quite common to see the buyer take a stake in a company prior to the full takeover offer. Now my question to you FR is WHAT WERE THEY ALL WAITING FOR?!!!

FR - what are they waiting for?

What were they waiting for before they bought Guyana's stake? Why did they then wait 6 weeks to buy the next 5%? These things take a bit of time to organise and, no doubt, to agree upon in the BHP boardroom.

FR - "Do you not think all these majors know the basics of the upcoming PEA?"

You make a good point. And they were already modelling the resource too. NM himself said that he suspected that's why BHP acted when they did. So, they acted about a month before MRE2 - who's to say they won't try another move a month before the PEA.

As DG said earlier, you can try and say it until you are blue in the face that no bid is coming any time soon, but the fact is that there is a chance, and a healthy one at that, that it will.