Member Info for ToS1963

I do wonder if a lot of posters/investors on here even bother keeping up with the basic risk factors which could impact their investments. Zoros posted a very valid link, directly affecting anyone invested here (albeit in a couple of the more minor concessions) and everyone jumped into fake, incorrect, or old news accusations. That’s today’s news, and Solgold are directly affected.

Try again .... Sharug is in Azuay province, two concessions.

Sharug isin the Azusa province. 2 concessions there.

RSR I started this thread with an article link, but please if you don’t know where in the country Cascabel is situated, don’t invest in Solgold or reply.

... didn’t go well.
https://www.opendemocracy.net/en/democraciaabierta/ecuador-pro-mining-politics-indigenous-green-movement-victory/

All looks good to me. Some little bits of previously unseen positivity, no shouting from the rooftops, and a slower cash burn than I had anticipated. I’m very positive about this update. I’ve long since given up on judging how markets react, but there’s nothing in there that’s negative that was not already known. Thumbs up from me.

Josepi... certainly feels like somethings got to give, but I confess I cannot for the life of me see what can or will in the next several months. We can hope for further positive drilling and assays, which should stabilise and perhaps even push the SP back up some, but I fear you are correct, we’ve got further to fall before that happens.
So what to do? My own approach will be to just hold what I have, keep abreast of the news as and when it arrives. Whilst I don’t think any bid is coming, I think BHP and NCM will hold more influence in the coming months, and a collaborative approach to the PFS may lead to a JV. Any such announcement would, I suspect, spike the SP. In my view, that’s the best hope in the short term. In the longer term, as others say regularly on here, the stuff is still in the ground, and I own a share of it. So if I have to wait all the way to production to get what i believe it’s worth, I will.

Anyone bidding 90p would have to justify to their own shareholders why they are offering over 4 times the current market cap. Now I don’t know what the biggest ever premium offered for a hostile acquisition was, but average is between 20% and 50% depending on sector. That would put us at 25p to 35p from here, or 48p to 60p from a 40p start. Can’t imagine any of these would be acceptable to either the board or PI’s. Ironically, and unusually, the recent collapse has possibly made a takeover less likely imho. Also imho, 90p would sail through. I’d certainly bite their hand off.

French for Dummies

Quady, production is only on the cards “if a development decision is made”. Such a decision has just been deferred a year. The bit in quotes is lifted directly from the RNS.

Another thing DBW.... as is always the case, the market wakes up before the private investor. We are down over 40% in a month.

Oh and by the way DBW.... no need for the rudeness.

DBW... next cash raise should have been post PFS according to plan as of Thursday, and would therefore have been well north of 40p imho. Next raise will now be in the region of 50% of that.
PFS was due last year, and will now now appear until a year later. Plan has slipped a year. We’ve paid many salaries and fees to people engaged on that PFS work. Those are sunk costs. Pretty clear to me. We have yet to see a new plan detailing any new handover to production date.

Hi RK, a lot of sense in that post, and agree, some frustrations have certainly been vented on here. Hands up, guilty as charged.
Over the coming weeks, I hope to see a more measured and pragmatic approach emerging, ideally with a bit more detail regarding the new strategy to get the stuff out the ground.... by that, I mean both engineering and finance strategy.
I’m not concerned about further dilution, it was always inevitable. I am also not concerned about the change of design, if indeed it is more economic and will ensure an earlier production (with subsequent reduced need for dilution).
I am, and I remain, angry that right up until Friday, the company were banging a completely different drum, when, as is now obvious, they knew it was misleading. To my mind, that still needs explaining, and moving NM aside, if that is what happened.... is nowhere near enough. But I’ve been over that before.
Anyway.... the loss of a year, and the impact on SP, is particularly painful for those of us who were seeking a return sooner rather than later. That may still come any day via bid or JV news, but if that doesn’t happen, we are where we are.
The short term SP impact is the one that I believe may hurt us most. Our next raise.... which will surely be this year.... will now be at a significantly lower SP than could have been the case. Once more, Solg becomes a put away and forget investment.

From the November presentation.....
PFS complete Q4 2020
Conditional finance package complete Q4 2020
Fiscal negotiations complete Q4 2020
Off take discussions complete Q1 2021

These deadlines?

Please tell me they seriously didn’t say they were busy with deadlines.

Lies should of course be challenged.... I haven’t seen any, can you show me? As for “deramping”, I’m fairly certain that is entirely in your head. If it isn’t, then their clearly wasting their time. Nothing anyone puts on here, ever, will effect the SP. Nor will it impact the decisions of any rational investor one way or the other. To believe otherwise is just so paranoid, it’s laughable.

Orthern.... not sure, probably a renumeration committee decision, however my concern.... he wasn’t sacked, he was moved aside or stepped down.... but what will his salary be after March?

Could we please, please stop it with the “he’s deramping!” “He’s sold and wants in at a lower price!” “If you don’t like it, what are you still here?” “Panicking “ Nonsense. It’s pathetic. If you disagree with a poster who appears bearish or concerned following Fridays RNS (I am one) please present a rationale counter argument, as plenty do on here. The purpose of this forum is surely to provide a vehicle for such debate. Plenty disagree with me on here, and being concerned about recent events doesn’t make me some sort of super strategist with the ability to effect the SP by the waffle I put on here. That’s ridiculous. I could equally accuse all the rose tinted never question the board posters of ramping the share with an agenda to raise the SP and sell. Which would be laughable.

Great post DrQ. For me this bit is key.....l
We require impressive assay results across the portfolio over the next few months to steadily push the share price back up allowing any future cash raise to be more palatable.