Member Info for ToS1963

DBW fair point.... but anything designed to get Solg appear to make progress to any kind of plan gets my approval. In truth, their ability to meet any kind of self declared milestone has been shocking, progress to their own published plans has been glacial, and its constantly had a negative impact on SP.

I think it’s correct to assume the majors don’t really care too much about the Solg PFS. So, unfortunately I don’t see it’s publication as firing any starting gun, nor moving the SP much.
My belief was that the majors were awaiting elections, and would seek relationships and reassurances from the victorious candidate/government on extraction policy etc. before committing. Now that the election has long passed, and nothing has emerged, seems I was wrong. Longer this goes on, more it seems that the Quady view is the most likely outcome. It would not be my preferred outcome, and it wasn’t what I initially invested for, however if it comes to pass, I’m prepared to wait.

Quite a chunky rise this morning.... on no news that I can see. Anyone any ideas why? As an aside, this is a very quiet forum, so not sure I’ll get a response!
I’m not complaining though. Been reinvesting my divvies here, so it’s all good.

I knew there was something regarding disclosure to third parties but couldn’t quite recall it so I dug it out. Make of it what you will, vis a vis the RK posts today.

The FCA is aware that many issuers provide unpublished information to third parties such as analysts, employees, credit rating agencies, finance providers and major shareholders, often in response to queries from such parties. The fact that information is unpublished does not in itself make it inside information. However, unpublished information which amounts to inside information is only permitted to be disclosed in accordance with the requirements of the Market Abuse Regulation.

So if we’ve details of the best ever drilled hole in SA and haven’t released the details..... we are in trouble. Or if we’ve given info to RK.... and not to ALL shareholders.... we are also in trouble.

So I’m calling BS.

The following is the law.

For a stock market to work efficiently and fairly, two principles must apply: companies need to release relevant information as soon as it is available; and all those who want to deal in shares should have access to the same information at the same time.

Rules to that effect are contained in the FSA’s Disclosure and Transparency Rules (DTR) and apply to companies with a full listing on the London Stock Exchange. The fourth of the FSA’s Listing Principles ensures adherence to the spirit as well as the letter of the DTR: a listed company must communicate information to holders and potential holders of its listed equity securities in such a way as to avoid the creation or continuation of a false market.

The core obligation is set out in DTR 2.2.1: a company must notify the market, through an approved Regulatory Information Service (RIS), as soon as possible, of any inside information concerning the company.

Another LTH here, who sits in the “held for over 10 years but can’t sell due to FOMO” camp. There’s plenty’s about BBG. Perhaps we’re all twits though. Talking the board and sentiment down? Think they’re doing a grand job of wrecking sentiment here without my help. And have done so for years now.

Red knight, as I mentioned before, I would love to know the latest position on the individual licenses. My limited understanding of how they work is that each license allows for 4 years of exploration work, which can be extended for a further 4 years upon application and approval. You then have up to 2 years to complete an economic appraisal. I am unsure if this 2 years can be extended, but I would imagine so.
If what I outline is correct, or even reasonably accurate, the questions, particularly in regard to Alpala, are obvious. What is the latest position on that license. I assume have frequent if not continual engagement with the Ecuadorean authorities, so what’s the latest position from their perspective? Thanks.

Any new CEO worth his salt will be fully aware how much power and control NM still wields given his holding. I’d suggest this may be proving a stumbling block to finding a suitable candidate prepared to accept the position without necessary guarantees of independent control over strategy and decision making.

Red... if you get a chance, could you ask them if we have applied for an extension to the licence beyond the two years permitted for economic evaluation? We are allowed to apply for a further two years, and I for one would be very interested in their response. If we haven’t, could you further ask if there is any intention to do so? Thanks.

Suspect after all this time it’s not just the shareholders, and funds, who are beginning to question the glacial progress. The Ecuadorean government must surely be keeping a close watch on things. Our licenses do have clauses in them which dictate what must be achieved, and by when. We do, I believe, have a decent reputation (unlike some) with them, but that can change. They need to get a move on.

..l and companies who write cheques before they are ready to cash them run the risk of attracting investors who subsequently become disgruntled at what they perceive as inability to deliver on promises.
Which is where we are here.

Bozi... on these statements.....

“ That said i fully expect Alpala PFS by early Jan and Cascabel DFS by end of 2022. Porvenir PEA and PFS started by the same timeframe.

2022 has to be the year those two projects jump forwards.”

.......We are in agreement.

Bozi agree, wasn’t looking for any silly arguments. There’s far too much of that on this thread, and it does grate.
Seems every time anything that questions corporate direction or strategy is posted though, the poster (me in this instance) risks such accusations. It’s tiresome. It’s equally tiresome when the “share price was 1p on such and such a date, and 46p on such and such”. . Irrelevant unless one is trading. What matters for an investor is the direction of travel, corporate strategy, and ability to deliver ongoing growth, value and a ROI over the longer term. A fall from 46p from whenever to 27.65p today does not reflect this.

Bozi... in one post you admit that they aren’t averse to some obfuscation, the you say they communicate regularly and “to good effect”.
Firstly, I’d rather any company I invest in avoids such obfuscation (it always damages the SP) nd secondly... genuine question... what exactly, does “good effect” look like? I’m struggling to see it myself.

Here’s what Solgold said in a presentation 5 years ago. It’s a direct copy and paste.

“Cascabel is characterised by multiple targets, world class drill intersections over 1km in length, and high copper and gold grades, as well as logistic advantages in location, elevation, water supply, proximity to road, port and power services and a progressive legislative approach to resource development. In 2016, SolGold is planning a resource statement over a portion of the Alpala Central deposit, the most advanced target at Cascabel, and additional drill testing of other key targets within the Cascabel concession. The company plans to complete further metallurgical testing, and completion of early stage mine and plant design in line with a scoping study for economic development options at Cascabel. SolGold is investigating both high tonnage / low grade open cut potential as well as high grade / low tonnage underground developments as a block caving operation.”

Here we are.... nearly 6 years later. They could put that statement in this years annual report, so little has changed in the intervening years.

Ezio .Auditor I would love to know how and when you got your average to £8.

You got me doubting my memory so I checked.... HL and Google concur. SP was 33.88p at end of 2010, start of 2011.

Addicknt... for clarity, SP was over 40p late 2010, and over 30p for most if not all Q1 2011, so not, as you suggest, sub 10p. I know this well, as I too was caught on that spike, and, as stuartbms says, there was plenty on here ramping it to the high heavens, so I have a great deal of sympathy with his frustration. I have fortunately managed.... over 11 long years, to get my average down, and am now showing a modest profit..... but let’s not jump down the throats of newcomers eh? There is simply no getting away from the facts that this share is the complete dog of many a portfolio, and as a company, they have continually.... for over a decade.... over promised and under delivered.

*Timely basis