Member Info for ToS1963

Surprised to see the down today on the back of what I considered a very positive RNS. Guess it was already priced in.... I give up trying to read the market! Not unhappy with SP though, long term hold for me.

I agree the fall is down to uncertainty. I don’t agree we had uncertainty last year. We had a stated strategy to become an Ecuador centric major. The market either did not believe, or did not like that strategy so the SP stagnated. The major shareholders, along with many of the PIs, also did not buy the stated strategy, and as a result, NM was ousted. We are now in a limbo position with a new CEO yet to outline his vision, which needs to overturn the discredited strategy in order to bring the shareholders back on board. The SP is reacting accordingly. The market has no idea where this company goes next, and news of that needs to be forthcoming very soon.

Cheated.... 80p on £14..... 5.7%. On £22.... 3.6%. So it depends if you want income, or growth? I’m happy with the dividend. SP is largely an irrelevance to me as I don’t have any intention to sell. That level of income is pretty hard to find, and allows me to draw dividends as cash whilst not having to reduce my holding.

Rcgl2.... agree 100%

In today at 106.2. Seems overdone to me. Not looking to hold long term.

Two!

No worries, got me excited though! And it’s interesting that it was exactly to years ago today.

Have now read, and reread, the report. It’s well written, and mostly plausible. However, it is almost and entirely negative view, despite seemingly being set out to show the pros and cons, it lends all weight and analysis on the cons, particularly for small PIs. It doesn’t add anything to what I already know. Where it is correct is that we, the PIs, are carrying the most risk, and will be last in the thoughts of those hoping to score big. It’s also true that the top execs, NM in particular, have seen their own wealth grow in parallel with the market cap, whilst we are tied to a very unimpressive SP owing to new issues. That’s the painful truth. I further expect this to continue for a while yet, but I don’t believe it will be to production. Good drilling results, news of financing, and / or news of bid/JV should come in 2021, and should see a rerate. That’s my hope and expectation, which will give the much talked about exit points for PIs. Those wishing to wait much longer should also see much better returns. All imho, and probably nonsense. Often said on here, and true, we all have different requirements for our investments.

Think that’s 2 years old.

Hi Lafitte.... whilst I agree with your suggestions of what the results to sentiment would be if your 4 points came to pass, I am a bit puzzled why you believe any of the 4 are either over or resolved? Yesterday’s RNS did not change anything in terms of strategy or relationships that we know of. In fact, the RNS suggested same horse, different jockey. That’s all.

Novice.... you’re probably correct, but I think it’s fairer to say worn down and disillusioned than nervous and impatient. 2021 will represent 10 years for me. That’s a whole decade. Still holding, and intend to continue to do so, but it’s been a very frustrating ride for many here. Perhaps that was the plan all along.... to outlast the ability or willingness of the small PI to hold in favour of the majors.

Bozi, I’ve been critical of NM on here, but I’ve also praised him. I like the Franco deal. I think the PFS delays have been badly handled. The latest 20.5p placing was an absolutely terrible move. Overall I agree with you though, some of the abuse he has received on here has been ott especially given how far he HAS taken the company. I usually try to depersonalise my criticisms by saying “the board” rather than NM. But not always. I like to think he runs a democracy though, but perhaps that’s naive. Pointless bringing all that new expertise on to the board if you’re not going to listen to their input though.

In 1848 I loaned Yosemite Sam a completely speculative $100 to go look for some gold in California. He found shedloads of the stuff, worth millions to us both. Nevada gold mine inc. offered Sam and I a million bucks each for it, but Sam decided he wanted to build a mine. He’s still trying to build it, as he’s never built a mine before, and Bugs Bunny keeps blowing him up.
Not to worry though, I got my $100 back from Sam for my share.

Bozi..... “ A company reserves the right to change it's strategy ToS1963.

It is the company's strategy. Not the investor's, the government's or anyone elses.”

I know all this thanks. Point I was making was only the many investors did not necessarily buy in to the current strategic direction, but would nevertheless like a fair return.

I hear you Quady, but it’s understandable, given the change of strategic direction, the many of the LTH would like to see a somewhat earlier return on their investments. In the absence of that, at the very least regular updates on progress towards the new goal. I too invested in an exploration company, which is no longer Solg sole purpose. Accepting the board at their word, if we are to take this to production, I don’t think it unreasonable to expect a coherent plan, with realistic milestones and costs, that is regularly updated and slippage/cost overruns highlighted and explained. Absence of such is killing both investor sentiment, and the SP.

Hi Bozi... many on here invested in a company that subsequently changed its strategy though.

Perhaps struggling to translate the statement into French. I’ll do it for them.
Au revoir , et merci por tout les poissons .

I’m astonished there hasn’t been any form of statement from the company today, even any rebuttal, of what is a price sensitive news story from a recognised established source. Not certain what to make of it, other than it was just Reuter’s publishing hearsay prior to any form of verification. Which they’ve done before.

I can’t see that the story seems to have been picked up and reprinted by other agencies. This suggests to me that they are having difficulty gaining confirmation (or denial) from credible sources. Reuter’s do have previous for publishing unverified stories. This leaves me thinking you may well be right, we might just see a bland denial tomorrow. This won’t be good short term for SP. (Not overly concerned about that though).

Quady, if you ever want a break from having to report him, don’t worry, I will. I don’t take kindly to being blackmailed, especially by an obvious ******.