Member Info for TheItalian

Does anyone have access to it?

https://www.m****g-j*****l.com/copper-news/news/1452872/solgold-seeking-phased-cascabel

Thanks Pad. You have a special search engine, I don't k ow how you find this stuff. Let's hope it has the effect of snuffing out the buyers!

Has anyone seen news this morning?

Q, ready it first then.

As they state, the SR "includes exploring and pursuing opportunities to enhance Company value such as evaluating

financing alternatives, potentially spinning out non-Cascabel assets to shareholders, selling an interest in Cascabel

at a value-justifying price, or other related transactions."

Nothing about any version of Alpala to bring to production.

Guys (or ladies...),

A lot of the relevant information has in fact been provided. Following the CGP overhaul, the company and the CEO in various interviews you have all seen, has started a process to streamline the entire operation. For those of you who have worked in corporations, especially in senior positions, you know it does take a lot of time to unwind offices, reduce headcount, re-focus the strategy around priorities and re-align the resources and the people around the new priorities. It's a matter of months, not days or weeks, and you don't RNS every other day.

Since they want to sell the company (plan A), they need to deliver a company that is not going to give the buyer a headache, and that requires some good house cleaning from the way Scott described.

So stop worrying, this is the not what we need to worry about. The real obstacles to our riches are the nature of the resource and the mining techniques that are required for extraction, the country risk, the spin-off strategy that needs to be worked out for the non Cascabel resources, the greed of both sides on the negotiation table...

GLA

In one aspect, the SR is a simple concept. Being "strategic", it is about aligning the company to a target audience, in this case investors since it has been stated that the primary objective is to sell.

The way to do that is by "advancing Cascabel", which implies various activities, from cutting costs to narrowing the priority list to redefine the resource and the costs and techniques for economical extraction, to arranging finance.

So "advancing Cascabel" is a pre-requisite to make SOLG appealing to finally elicit a bid from someone. This is plan A.

Naturally the SOLG pill might be too difficult to swallow, so in executing plan A is also a milestone for plan B, which is the case where no one buys us and we need to either find JV partners (plan B) or develop ourselves (plan C).

So, long story short, let's not confuse the strategy of cleaning up the house to make SOLG marketable (=the official line of "advancing Cascabel") with the strategic objective of develop ourselves (=what some think that advancing Cascabel means).

Than again, this has always been the idea, even NM was trying to dress up SOLG for a sale except that he did not succeed and actually made it even less appealing to the majors.

Just my personal opinion as usual, GLA.

I have submitted a couple of very direct questions.

I don't spend much time here but I hold significantly more shares than Brad and I am down 80%, so I am looking for clear and unambiguous answers, and I would like to see him invest more in the company himself.

The current situation is not excusable. While I can appreciate that he is not in full control of OMI's destiny despite being the CEO, he has shown more inclination for second guessing the JV partners (after the negative facts) than proactiveness in steering the ship and derisking the company. I am really unimpressed, but I am equally trapped at this price point.

GLA

He is filtered so I have no idea and no interest in whatever he is commenting on, however it's comforting to see that his words have no effect on us investors, so for all practical purposes he is just wasting his time. I would advise that you all filter him as well so we can all move on to better and more constructive conversations.

Eloro it would be great if that was indeed the case, but just to stay grounded, WI may have not used his words in a legally appropriate fashion.

Companies may also just open a data room for prospective buyers against a mere letter of intent that does not really constitute a binding agreement of any kind, and then the "due diligence" is executed with or without an indicative target price range.

Usually nothing Bubble, but who knows this time?!.....

I think that we failed to grasp the extent of how badly SOLG was being managed, with too much money wasted on too many priorities, too little progress and too many burned bridges. The CGP overhaul will probably produce a leaner and meaner SOLG, in better shape when the buyers show up or if there are no buyers and we have to develop ourselves (hopefully not).

But A) it will take time, and B) in the meantime it will look like nothing significant is happening because house cleaning is not RNS material.

So perhaps, as we are still in some orphan stage and are unfortunately still not ready and presentable as a proper selling proposition , it's for the best that we need to wait, at least for those who hope that when we get sold, we get sold for a congruous price.

It does not mean that we are happy to wait longer after all that has gone through, but for all practical purposes we are likely to be in a better shape this year than we thought we were in the last 2-3 years.

Just a personal opinion, GLA.

I have no issues. I use Adblock Plus on my Chrome browser and the only problem is with the useless posters, not the website.

Nice

as someone famous said, the problem is that the stupid are always ****sure while the intelligent are full of doubts...

@Pad, too bad we live in different cities. You could write the lyrics and sing your line, I could write the music and play the drums, that could be the start of a great geriatric band!

If WI's comment is accurate, that means we would need to delist from TSX before being able to sell to the Chinese.

Zap, I don't think it's fair to actual investors. Not everyone who invests has the time to engage the BB every hour of every day, and the company has not performed as well as we investors expected, which is measured in price (bought vs sold). Of course the resource is there but if it does not get monetized, which is the very point of an enterprise, then the actual investors are more than entitled to complain or at least comment on the adverse events. I am down 81% after today on a material amount, I think the strategy needs some rethinking, especially if there is an actual resource that could be monetized (and it has not!).
GLA

Forte, I am not a fan of the efficient markets theory since it's proven that prices are constantly moving up and down away from balance sheet based appraisals, and I also trust that there is a theoretical and rational valuation for SOLG that puts the price to 60p or 111p.
However, until the fair value is achieved, the only "real" thing about the price is the price itself at any point in time because that's what dictates our entry and exit points and therefore our profit or loss.
The only three times I have seen the SOLG price at a level that resembled a fair valuation are in May 2017, briefly in October 2018, and again briefly in April 2022. Otherwise, the 999days EMA has been floating around 25p which is higher than today's price and a major discount to the target prices we keep dreaming about.
So, what is the only thing we have unless a majority buyer steps in and pays some premium to acquire the company? The current price, that's it, everything else is forecast at best and aspiration at worst.

I still see USD 75c as medium forecast, or 60p.
I suppose it does not really matter if 60p goes to 111p if we cannot even reach the 30s in the real market.

I have been saving a bottle of Montevetrano 2008 for the day I sell my last SOLG share, I hope it does not turn into vinegar by then!