Member Info for ToS1963

Couple of big sells at low price? I’m not impressed!

We are incapable of building a mine, but suddenly the drug cartels are block cave experts. Mind you, I have to admit they’d probably be more capable than us at raising the finance.

HrH I would respectfully disagree with you. This is quite some way to go before anyone could consider it a gold, silver and copper play.

It’s a speculative investment in an exploration company, and always has been. I agree, that may be on the cusp of changing (we are all hoping so). But we’re not a miner, and imho never will be.

Good luck to you also Krusty one of our two approaches will ultimately prove to be the correct one!

To simplify. Let’s imagine we are a house builder. 10 years ago, we spotted a field in a prime location, added it to our land bank, and last year eventually we were given planning permission to build 1000 x £500,000 homes. We have no materials, no architects, no builders, no electricians, no joiners, no roofers, no project plan of note, and nowhere near enough money to undertake the project.

Is our share price likely improved if house prices rise? As a shareholder, would you rather see house prices rise, or progress on the project? In short, what I’m asking is please, let’s not get to tied up with precious metal prices. They are of little consequence at present, and only serve to accurately value the asset. In my analogy, it’s our ownership of the planning permission that they want.

Our biggest asset at the present time isn’t the PM’s. It’s this

· SolGold plc, through its wholly owned subsidiary in Ecuador, Exploraciones Novomining S.A. ("Mining Concessionaire"), has negotiated the right to develop the Cascabel Project and produce copper, gold, and silver from the contract area for 33 years, which may be renewed.

I got out yesterday. SP has dropped 20% in a year, and 10% since the wind up was announced. In that time, the communication from the company regarding any timeframe for realising the assets, and distribution to shareholders, has been non existent. That’s nearly 7 months, I’d have expected an update in that time. I hope I’m wrong (probably am) but can make no sense of the price action, and it’s giving me a bad feeling. I was quite happy with this investment when I was receiving regular dividends from what I believed was a solid asset. I fully realise my decision is probably the wrong one, and it would have been better financially to see the wind down through here, so please, don’t follow my lead or think this is advice. I’m just happier with a portfolio I don’t have to pay too much attention to.

Shandy, I’d be expressly concerned if we had the overheads of the supply chain necessary to facilitate national coverage, with our existing cash and mcap. It’s a very small outfit, with some promising brands, and huge potential to expand in the future. Steady, incremental and affordable growth is what I’m hoping for, with the added chance of a large player swooping in to snatch up the brands at a premium.

Tiger.... what, in your opinion, will be the reason for the short term 100% increase here?

Here’s how relevant the copper price is to Solgold.... in 5 years, copper is up 39%, whilst Solgold is down 78%.

Swear if I see another poster (well one in particular) creaming themselves over a copper value we are incapable of realising, I’ll lose control.

Copper price of limited interest to Solgold. Only relevance is what spot they use for umpteenth feasibility study. If your super keen on copper futures, buy those, or a miner.

My own view has always been we can’t take this to production ourselves. I confess I have thought, since my initial investment (2011) that we would be bought, either in whole, or the Cascabel part. I’m perfectly willing to confess I’ve been wrong.... on both counts.... for nearly 13 years now. And from everything the board are saying, and doing, I can’t for the life of me see anything changing for the next few years. So I’m resigned to sticking these in a drawer and seeing what transpires. That’s been my position since 2020.

I’ll just say it.... (again!). We don’t have any copper. Or silver. Or gold.

We hold licences to look for it.

We found a very significant deposit, at depth.

We now (thankfully) hold a license to extract it.

We show no capability whatsoever of doing so.

The SP reflects this.

So you can post all the copper shortage, gold price BS you like, until the cows come home, it won’t make a jot of difference to your investment here unless and until we have a plausible, viable strategy to realise the value in the ground.

If all those links get you excited, best to invest in someone who is actually mining the stuff.

Some good discussions on here today. Thought I’d entered the wrong thread for a moment.

Well I thought I’d be up or down more than 8% with my quick trade..... have decided to hold for another 24 hours to see which direction this breaks.

Donotpanic.... and there was me speculating I could, potentially, make (or lose) a reasonably quick 20-30%!

I’ve had a wee punt in two tranches at 19.74p and 19.68p. Looking to get out tomorrow, Bitcoin not for me on the whole, but felt there was little to lose here if I stick to my guns and sell tomorrow come what may.

Good heavens they’re all out today. So, does gearing ratio calculation include shareholder equity or not? As a shareholder, have you seen a return of any equity? I haven’t (dividends aren’t included) So they’ve presumably been paying down debt, not returning equity, in order to reduce gearing. Which they should say. Just saying we are “reducing gearing” is opaque. There will (hopefully!) come a time when they start paying us back. Which will also be reducing gearing.

Thank you for reaching out. The Company will communicate both the timing and amount of the first distribution when it has sufficient certainty on receipt of monies and distribution. The monthly reports the Company publishes are the best place for updates as the wind down progresses.

No need to be rude Krusty. There’s far too much of that on these boards, let’s try to keep this thread clear of that. What I do, and don’t understand is none of your concern.

Monkey man... I share your concern. Especially given the widening gap between SP and NAV. To that end, I’ve contacted the company as follows. Will post any response.

Can you give me any indication of a timeframe for the return of capital to shareholders? The presentation on the website here is opaque in the extreme.

https://vpcspecialtylending.com/wp-content/uploads/2023/06/FPE-2023-VPC-Specialty-Lending-Investments-PLC_9.28.23-FINAL.pdf

Indeed it seems to suggest that some assets have already been disposed of, yet the capital realised was used to “reduce gearing”. Whatever that means.

Given the terrible share price in relation to NAV, is there anything you can say which might appease me, a humble shareholder who seems to be in the position of being promised a return on my investment, which doesn’t appear to materialise?