Member Info for TheItalian

Thank you, now I remember I had to go through HSBC. But last year wasn't there an alternative method, via another company indicated by SOLGOLD?

Sorry for the dumb question, but how do we actually send our votes for the AGM?

Tell them @Copperpot, tell them!
The resource is there, someone will bring it to fruition and we own (a little) part of it so we will be fine, how much we don't know but we will be fine.
I know we would all like to be a higher price right now, but as I wrote the other day the resource is huge and still growing, and as indicated via today's RNS, we will get an even richer PFS, so stop saying that it's just delays as if's there isn't another side to that equation.

Shippy, how do you get the voting forms?

I'd rather suggest that rk1:
https://www.goworldtravel.com/travel-italy-bay-of-ieranto/

Wow Novice, it looks as stunning as an Italian would described the Amalfi Coast!

I think it's clever though. Solgold sticking their head out and being friend with the government now creates the question about where is the commitment from BHP and Newcrest and all the other majors.
Are they going to start pledging investment or are they going to continue playing games?

But the way I read the $430m news is just that Solgold has committed to spend that money over the next 10 years for Cascabel. That is just in support of the "Ecuador open for business 2021" campaign, to lure other international investors in. Some favours will come back to Solgold for putting their name forward, even if Solgold would have probably spent that money anyway.
There is a specific comment from President Lasso: ""I thank the investors for their trust in Ecuador, I congratulate them and wish them many successes," said the Ecuadorian president after ensuring that these investment commitments will generate employment and promote the development of the country."
Am I getting it all wrong? I haven't found a single article including all the South American ones, specifying that it's money coming from the government towards Solgold.

About resolutions 10, 11 and 12 (capital raising)
If I understand the wording correctly, they are about small-ish amounts, so not the sort of money needed to fund the Alpala development. The word used is "Cashbox" so I take it that it's for ordinary administration.
Considering the amount of cash the company already has, why would we vote to be diluted further?

I hate the legalese...
What is the relevance of that section 10? Are they planning to raise more funds via equity, with all the cash we already have?

I do get all these ideas and opinions about price manipulation, and I certainly do not think the market is a levelled playing field. I know how algos work and in fact I build my own. I also agree that they can be built to great effect for illiquid shares, to push the price up or down, or keep it in a range.
My point earlier is that the price is still where it's theoretically supposed to be based on fundamentals and exploration company valuations, so manipulation might well be redundant.
Ask yourselves, with all the institutionals already lined up, and most of us who bought long time ago in volume, what woudl push the price higher if not the news that we haven't received yet?
If there was such exuberance, you can also be sure that some of use would start to sell as soon as 35-40p, pushing the price back down with little volume.
So, even if someone is manipulating the price, it's probably not even necessary, IMHO that is.

GLA

Come on RK1, a company is going to try and set its own strategy with a plan A and a plan B or it will be imposed by someone else (e.g. BHP and NCM).
There are some obvious defining factors about SOLG at play:
1) The resource is even too big and its size is a moving target, so taking its snapshot at any point in time means undervaluing it
2) Ecuador is still a risky proposition no matter what the spin. South American countries can turn around one way or the other in 12 months.
3) It's a given that the majors will want to take it away from SOLG
4) Any idea of fair value is at best a wide range of values, from 45p to £4 depending on what is priced in when
So of course if you are the CEO, you will rush to drill and measure as much as possible because time is not going to be your friend and the majors are going to be breathing on your neck and pushing you around for the light weight you are, and mistakes will be made.
I can only reasonably expect that many of the drilling results we have been hoping for were not as good as, no other hole 5s happened, and the first PFS draft was not economical, and if you want to justify the effort and not give in and sell at 45p, you are going to buy time and of course that will annoy the majors.
So was NM bluffing? Of course not. I can only imagine that he would very much love to sell the bloody company and move on, but what SOLG need to prove to get the right price is an awful lot and it takes time and a lot of good work. In the meantime, if the majors keep playing their games, what is he supposed to do, tell them "Ok them, have it your way?" or is he going to own the strategy and say "Plan B it is then, if no one pays for it, the resource is ours and we will continue the project ourselves".
The only reality I see is that SOLG had been trying to create optionality for the investors, and the majors have been trying to corner SOLG and take the options away. In this respect, I don't see how it may be convenient for us to support BHP at the AGM.

Just one comment on the 2019 PFS that was postponed.
As I understand, that PFS was just based on technical hypotheses that weren't yielding an economic result congruous with the size and underground position of the resource. SOLG would have had no reason to go back to the drawing board if they had not received negative feedback and a redraft was absolutely necessary to progress further with corporate development. If there is a shortcoming here it's in the formulation of those technical hypotheses, and if there is a possible mistake on NM's side is that he probably estimated that the majors would have been more forthcoming with bids that they were, no matter the PFS details.

I am not entirely sure why there is manipulation, on the basis that the share price is not where we could like it to be.
When if peaked in the past it was due to market exuberance and it happened during bullish markets phases.
As a more credible proxy for pricing, before we get carried away, we can look at previous valuation data for exploration companies (pre-feasibility), which puts SOLG at around 27p considering that only Alpala is priced in as most investors would.
This could well jump to 50-60p if the feasibility study is adequate and further more if that triggers a buyer's interest.
Until then, I think we are priced exactly where we deserve to be, pending all the long awaited updates.

Imagine if a company like SOLGOLD was run by a private investors committee made of the most vocal participants to this BB, always ready to jump to uninformed conclusions and pass judgement on management. This company would have been bankrupt even before getting to that magical hole 5.
If you guys had any idea of how companies are run, the daily grind, making progress on so many fronts while orchestrating a strategy, coordinating the different departments and their activities, steering the ship as obstacles and opportunities arise, you would not talk about any of this as if management and employees had nothing else to do than please the small investors every week with some sugar coated RNS to make the feel good about those 10k they invested as pure speculation.
Come on people, get a grip!

Shippy, you are the one reason I still have Messenger on my phone!

Just to avoid that we project fantasies instead of facts onto this BB, BHP has switched auditors in 2019, from KPMG to E&Y, not PWC.

Maybe he had enough of BHP after 24 years and in fact he does not want to have anything to do with them!

We even have time for Solgold coffee. Aren't we cool?

I can settle even on a 25th December AGM if Santa shows up with a BHP offer at £1!