Member Info for ToS1963

Marvel check the Rns’s for the past few months. We’re not talking about today’s trades or L2.

Smickster... yes we are still exploring, and there’s lots still to do! Please let me be clear, I’m not advocating getting rid of NM. In fact.... we’re we to sell off the assets to a major, one by one, as they reached PFS stage, using the funds to continue exploration and reward shareholders, that would suit me down to the ground. And I still believe NM would be the ideal candidate as Head/Director of Exploration in such a company.

Just checked my posting history. On 3/7/2020 at 12.07 I posted the following under the subject heading “Rio issues in Mongolia”.
https://www.smh.com.au/business/companies/rio-tinto-cuts-copper-hopes-in-fresh-mongolia-mine-setback-20200703-p558ox.html

Little impact on Solg, but shows two things to me..... on the positive, there will be slightly less copper around if and when we start producing, but on the negative it shows some of the unforeseen risks to timing and cost associated with mine construction.

For a further two month we were still promised a PFS by Q3. Then 2 x RNS which followed still promised it by Jan 21. If a mere PI knew of the problems in Mongolia by then... how come the mining experts at Solgold didn’t?

CD you all how I arrived at the idea the PFS was botched... okay.....
Due Q3 2020
RNS on last due date, delayed due to Covid, well advanced, due ASAP
RNS 1/12/20 delay getting geotechnical data, but nearing completion, due end Jan 21
RNS 5/2/21 now due late 2021
RNS 8/4/21 still due late 21, but to incorporate as yet undiscovered near surface stuff first
RNS 23/11/21 further delayed, update at AGM.

If that’s not a company botching something, I don’t know what is. Regarding Oyu Tolgoi, that’s just a convenient excuse. I was the first poster to bring that clusterf* to this boards attention, and it was all known about well in advance of most of the above. It’s a red herring here.

PAC not knocking NM, and accept what you say about him being key to us getting here. However, is a proven explorer the right person to take the company forward in achieving its stated aim of becoming a major mining company? Initial botched PFS would suggest otherwise. Moot point, as he is no longer at the helm, although undoubtedly (and deservedly) will still have significant influence given his position and shareholding.

Am a holder here, and am positive about my holding. Dividend is excellent, and appears sustainable. However, I can’t help but notice the sheer volume of TR-1s that keep appearing. It’s way more than any other share I hold. The majority of them are sells as well. Surprised that all these institutions don’t seem to share my confidence, and I also think the overall impact is suppressing the share price. Would like to think that somebody was building a stake here, but surely they too would have to release a TR-1 were that the case. So what’s going on? Anyone any ideas?

Anyone else noticed that “happy clapper” seems to have become the new insult de jour on here?

Damers company have never (to my knowledge) said no further dilution. Indeed, the RNS detailing the rationale behind PFS delay dated 8th April (so not the most recent delay) stipulates the hope that changing the PFS may reduce dilution. Clearly dilution remains a likely option. And, motions at forthcoming AGM reinforce this. I’m therefore genuinely puzzled why your research leads you to the conclusion that they “clearly stated” no further dilution.
However, dilution ain’t so bad if it’s to support “management’s expectations of robust and prospective economics”. That’s a quote from the April RNS. I await the PFS for more granular details, and we should find out when we’ll get it on 15th of this month.

Harry as with your reply. It was a pleasant change to have someone put forward an alternative view without rudeness or name calling.

Happyharry yep.... fingers crossed wouldn’t be my usual investment advice! Solgold a bit of an anomaly in this regard though. I too hope for a different and improved approach from the new CEO, particularly around progressing Alpala and communicating future plans and strategy. However, I believe in order to be afforded the breathing space to do this, we need a short term SP boost, otherwise he is in danger of getting bogged down in defence mode. Best route to this is if we strike a great hole at Rio.

Loving your positivity Colonel. As others have said, best defence against low takeout is a high SP, and I concur that Rio is our best hope, in the near term, of a significant uplift. NM et al may have their faults when it comes to PFS, and comms, but nobody can question how good they have proven over the years at finding the stuff. So fingers crossed, keep holding, support the board, and let’s see where it takes us. That’s my strategy. GLA.

.... and every gain we can make, however marginal, will reduce the extra strain on the NHS. Which was always, and remains, the whole point.
These restrictions are, and never were, about wiping out Covid. They were to try to keep the R number as low as possible, and certainly below 1, in order to protect the NHS so that its services could remain as open and functional as possible, particularly over the winter months, for those who need them. Therefore to say “I’m healthy, I’m not scared of catching Covid, so I won’t wear a mask” is just selfish in the extreme. Wearing a mask is a minor inconvenience, and doing so may just save someone’s life. So get over yourself Slug.

Are masks really oppression?

Covering your face in Tesco isn’t a classic symptom of life under tyranny. O’Brien didn’t threaten to pop a lightweight cloth mask on Winston Smith in Nineteen Eighty-Four. It’s only useful as an instrument of terror if you can’t imagine anything worse than your glasses misting up.

Not my words, but appropriate.

Is Covid really no worse than flu?

If Covid doesn’t either exist or is no worse than ‘the Spanish flu’, as Slug suggests, who’s killing so many people? Thanos? Why are 1.4 million NHS workers lying about it? Who’s orchestrating this global conspiracy, and why do you imagine you’re intelligent enough to see through it?

Last announcement said they would be delayed, but would be released in December, with the exact date to be confirmed. Website still showing December, but no definitive date. Surely they’ll need to release something soon, it’s December tomorrow!
My punt here taking slightly longer than I anticipated, confess to believing it would rebound to between £13 and £15 in short order, but seems we’ve found a level until news. Still hoping for a chunky uplift when results are announced, so not long to wait.

Cheek turned.

Colonel.... great post. I have thought, for a very long time now, that there is something really weird going on here. I confess to having no proof, or concrete evidence of this, but as a long term holder, and avid researcher of my investments, Solgold stands alone as the one I’m not sure I really understand. The BoD cannot, seriously, be as bad as recent (last few years) actions (or lack thereof) portray them. Ironically, such opaqueness would normally make me exit at the earliest and least loss making opportunity. However, Solgold has gotten under my skin a wee bit to the extent whereby I’m now resigned to seeing how this all plays out. My average was around 37p (yes, I know, I got caught on a spike) but being in a share so long does allow you an opportunity or two to trade, which I have done, and am now in the much happier position of averaging 22.4p. This is a price I’m quite happy with, and am prepared to allow this to play out. Here’s the slightly controversial part. I suspect in the absence of a bid, or JV news, we shall see another dilution in 2022, and the way things look, this is likely to be at or around today’s SP. I think I might take a further punt at these levels should that prove to be the case. Originally this was to fund my retirement(in part). I’m now fortunate enough to be retired 4 years, without the need for a return on this investment. So it’s jam if it comes in... which I still believe it will. Just not sure when.

Blue sky I’m not a conspiracy theory advocate, but reason I thought of it was I was wondering if the US investor reaction to the RNS would follow ours, resulting in another dip in the SP in the afternoon. However I then realised it was one of the few days in the year when no trades via Mellon could take place. It’s probably a coincidence, but as you allude, it could be a slight attempt to mitigate the impact of slightly disappointing news. Given that they have only just opened up to the US investor base, had the results been stellar, I don’t think they would have been released when the US was closed!

DJ agree with your concerns, however (see my last post) my view is, if I am to support the board, it’s got to be (within reason) an all or nothing deal. I don’t want to vote for them, only to restrict their ability and flexibility by voting against the special. Yes, it would be good to get more detail behind its intended use, but even if it’s to keep the drills turning so be it. Only thing I would perhaps be voting against is any tasty bonuses, or share options, up less tied to a specific share price NOT market cap.

Bit disappointed at SP reaction to today’s RNS. Didn’t seem that bad to me, and as others have pointed out, there’s plenty more to come. What did interest me though, is the fact it was released on Thanksgiving Day?