Member Info for ToS1963

Hi Quady.... I never mentioned NM selling, cheap or otherwise. What he might have done, in order to protect the SP....... for example..... is not to issue a placement in June at 20.5p, and issue the Porvenir and PEA updates first (these were less than 4 months later) which allowed the SP to rise to nearly 40p, and then issue the placement at say 30 to 35p. That placement was done at one of the worst possible times for PIs though. As you’ll remember, I did take some a short time later at 21p, but for those who perhaps couldn’t afford to it would have been a crushing blow though. I also noted that NM filled his boots at that price.

Hi Frog etc.... that’s the issue though, isn’t it. Using your figures, which are as good as any, 55p now or £1.50 in several years time. NM should be able to deliver both. Firstly... the 55p would represent the first exit point promised many years ago, but doesn’t seem achievable. Despite countless good exploration results, the SP has bounced back and forth for a considerable time without breaking out. Many long term holders may not have the time to wait until a mine is built AND producing. I voted in favour of all motions, and am therefore ok to give NM a while longer, but confess that by now, this is largely due to better the devil you know. He did, and continues to promise exit points, but I fail to see how the current strategy delivers these prior to production. Any uplift in SP as we continue on the path is swiftly negated back to this level by dilution. I wouldn’t accept 55p, but something around 80p would see me selling up most of my holding.

Max19.... not the best analogy. Remember Phillipedes collapsed and died upon completing the marathon.

Out of interest.... how does one “target” a 50% increase in the price of a share held in ones portfolio, within 2 weeks? I’d like to give it a try with a few of my holdings. Thanks in advance.

Results were published 28th Feb last year, so that’s the latest date I think we’ll get the expected news. If forced I would expect a company update of some kind prior to that though, so any day really. Regarding SP... in the absence of an update, I expect it might drift back a bit from here. Forced to guess, 8.2p. On news, my topslice target is 12p. Assuming I still like what I am hearing, the remainder can ride long term.

Agree Scrat, particularly the point about spending money. I for one would not have wanted a top heavy, bloated and expensive company which has no revenue right up until it became absolutely necessary. Now they are in place though, they’ve got to start justifying the extra expense.

In a perverse sort of way, I quite like the odd day when everything tanks. I just see it as a buying day, rather than a selling day.

By the way.... if you want to track project progress, and keep them honest, I recommend saving the presentation and project timeline. I can’t for the life of me find the previous versions, and can only think they have been removed. As there is no regular project progress reports, only what we get via RNS, tracking slippages can be difficult. Not unusual for a company to try to put out positive messages wherever they can, so I don’t blame them for this (e.g. the PFS has slipped significantly since this was originally published, and there’s no mention of the 20.5p recent raise on slide 8) but I for one like to know how my investments are faring and what the current risks may be.

Take the “download latest presentation” option from here.....

https://www.solgold.com.au/

As schlemiel says, about $3bn is the estimate, and the project timetable is on slide 21 of the last (November) presentation on the website. Handover to production estimated end 2025. There have been critical path slippages since it was initially published though, so I expect more, and, as Schlemiel also said, cost overruns.

Ice / Quady. I am not uncomfortable with the current SP, and yes, I concede that given the challenges faced by Covid, and let’s not forget the not too distant court challenges, NM and co have brought us through relatively unscathed. Fingers crossed.
I’m never happy on these boards though when posters start pulling out dates and SPs to support a particular argument. I’ve been in Solgold far, far too long to accept that 37p at the end of 2020 is a great result. It is, however, a decent result if you take 2020 in isolation.

Ice... two years to date the SP has gone down. Anyone can pick random dates on most shares.... particularly this one.... to try to prove their point. It’s immaterial to the discussion.

As I said ice, I have previously explained this. Clearly I have to do so again. I remain invested, because I have yet to realise fair value for that investment. I believe there are quicker, and less risky, ways to do that than NM is currently adopting. But selling out now in a fit of pique would be throwing out the baby with the bath water. It’s not that difficult to understand.

Sorry ice, but no intention of selling at this level, for reasons I’ve previously explained. Doesn’t mean I have to agree with corporate strategy as it is currently. NCM CGP and possibly BHP don’t agree with it either..... and they are holding on.

Jerry... I’d speculate that there’s some truth that it made sense to use the rigs as they were nearby. Better that than the cost and time to move them to the south. But that’s pure guesswork.

Grim.... last couple of your posts have pretty much hit the nail on the head I’d say. I’m sue many of the PIs who have held here for a long time feel the same way. Dilution with a payback strategy.... good. We accept the risks associated with exploring and finding little or nothing. We don’t accept hitting the jackpot Alpala) and not realising the gain in any meaningful way for over a decade.

Quady, last night you speculated one or two of the tenements might be producing prior to the completion of the Alpala build. In light of your reply to Grim.... which one or two did you have in mind?

Hi all
Respectfully... can I ask that we try to keep the posts about companies other than Solg to a minimum on this board? I understand there are similarities, and comparisons perhaps, but I come on here to discuss Solgold.

Thanks

To my mind biggest advantage of this area is it seems to be close enough to benefit from the already identified (for Alpala) water, power, road and port infrastructure. Lots of potential for economies of scale which tenements in the south do not benefit from. Fingers crossed it pans out.... bit early to be calling a Tier 1 though, but I like the confidence & excitement. Really wish Solgold had or would remain as an out and out explorer. That’s why I invested. Just too much risk.... geopolitical, financial and time wise.... for my liking with the current declared strategy. But hey ho, my moneys on the table now. Hoping to see at least one of the promised exit points to allow me to topslice and derisk.

Quady... so it was just the word hefty you objected to? You prefer a longer, slower death? Dilution is inevitable... and given the scale of the tenements to be explored, hefty dilution at that. You’re right though, he’ll want to drag it out for a lot longer. On his salary, why wouldn’t he. As long as he keeps promising exit points all should be well.
I respect you believe in the all the way to production strategy... but be careful what you wish for.