Member Info for ToS1963

Impossible to question the board, or the corporate strategy on here without accusations of deliberately attempting to harm the SP for personal gain. Complete and utter rubbish, and damaging to decent debate. I, along with most others, NM included, desperately need the SP to be way higher than it currently is. We will never get a fair value offer otherwise. No major is going to bid 4 times our market cap or above. So please.... by all means disagree, and provide counter arguments, but accusing every poster in this fashion is tiresome and unnecessary.

As a clarification of the thinking behind last post.... stated corporate strategy is now to take to production.... unless we get a true value bid, which would have to be put to shareholders. I don’t see us getting anything near what NM would regard as a fair value bid .... so the corporate strategy is to take Alpala to production, whilst continuing to drill and prove up the other tenements. That’s 8 years of same old same old on the exploration side, with associated costs, with no income....all the at the same time as we are building a massive block cave mine with no previous experience. JV with a major stated as not the favoured option. Again, with no income. All of this has to be financed, and will certainly involve ... partially at least... even more dilution.
We just have to sell something to mitigate the shareholder risk with that strategy. I need to see clear evidence and explanation of this supposed tax issue with selling Alpala.
By the way, none of that has anything to do with impatience, or inability to wait.... but I just don’t buy into it as a corporate strategy. It’s bonkers. It needs to be better explained to me in this years annual report, because I just don’t understand it.

Quady... isn’t our bid more likely to bring forward other bids rather than deter them though?

Lack of news..... SP retraces. Lack of belief in ability to deliver on stated corporate strategy, market reflects this in SP.
Unless we get a bid, I am rapidly coming to the conclusion we are stuck at these levels for the next 8 years minimum, with occasional spikes on the odd decent drill result.

Miagi.... deep down, I believe you are correct regarding the effect decent Porvenir results will have.

This was the corporate strategy.... lifted directly from the annual reports of 2014, 15 and 16...

. The Company’s corporate strategy is to:
• Create substantial wealth for its shareholders by exploring, discovering and defining large inventories of, but not limited to, copper and gold metal.
• Primarily focus on copper and gold, taking up the growth potential and increasing global demands.
• Target regions with world class deposits.
• Target grass roots level exploration opportunities to enable low cost entry into projects.
• Focus on disciplined and systematic approach to exploration.
• Maximise shareholder funds on “in the ground” exploration expenditure as a proportion of the total budget in order to generate high-quality results.
• Secure additional exploration projects by the application for new tenements and/or farm-in style agreements.
• Undertake an on-going review of potentially ‘value accretive’ opportunities that are presented to the company from time to time.
• Respect the communities and environment in which we operate.
• Maintain a strong focus on Health and Safety for our employees and contractors.

By 2018, that strategy changed to.....

. Our vision is to become a leading copper and gold miner underpinned by our exceptional portfolio of project options.
Exploration – utilise our highly experienced team and our first mover advantage in Ecuador to identity multiple potential world-class copper and/or gold deposits.

I guess my main gripe is that shift of focus.... I don’t buy into it. How much input did we the shareholders have into that fundamental shift from explorer to miner?

Miagi... I sincerely hope you are correct, that decent drill results will at last shift the SP closer to where it should be by now. However the longer it drags on, the more I fear a less than satisfactory reaction from the market. If they don’t believe he can take one major resource to production, they’re gonna struggle to believe he can do two. I know that makes no sense from a true value of resource perspective.... but neither does today’s SP. And heaven forbid the drill results are poor. We’ll be crucified.

L2.... I hear you. Perhaps I wouldn’t be as vehement in my condemnation of him, but my patience has long since expired. Despite consistent promises over the years to provide fair value for investors, and, more importantly, exit points along the way, he has as you say marched the SP all the way down from 40 to 25p, and seems completely at a loss how to rectify this. Positively engage with your major stakeholders. The market has been screaming at him for an eternity now that it does not buy in to the take it to production line. He is pigheadedly refusing to listen. Anyone in his position who doesn’t heed the market and the stakeholders soon has to make way for someone who will.

L2.... yes, I had noticed that. Suspect it’s just lack of expected news on many fronts. Infuriating, as always with Solg. Sorry if that seems pessimistic.

Rcgl2 very aligned to my thinking. Many posts over past few weeks on here have highlighted current boom in gold price, which should add significant value to our indicative value..... this will only increase (hopefully) our potential sale value. However, not being a producer, it has no impact on our cash flow. In the scenario.... to my mind very possible scenario.... you outline, there is a global crash prior to us becoming a producer, not sure Solg is large enough to withstand it and would instead become a sitting duck for a big cash rich major who is. I am holding a much higher %age of cash than is usual for me, in order to mitigate this risk, but runaway inflation then presents its own risk. And I’m certainly not contemplating selling here at these prices.

I have exited here this morning, taking my losses on the chin. Good luck all who remain, but at my stage of life, following today’s RNS didn’t believe this was making the progress I had anticipated... well not within the timeframe I had hoped. The discounted placing was the final straw. You live and learn. Good luck all who remain, longer term I still feel there is potential here.

Despite never being anything but my usual civil self to all posters, irrespective of their views, I seem to have been added to a filtered list by the newcomer (!) to the board this evening. Clearly didn’t take them long to make a judgement on me.
It feels a bit like a badge of honour.

I clearly need to drink much more wine.

Ok Novice, point taken.... I must try to be more upbeat! Yes, this is a very welcome rise, and this time, I do think breaking and holding 27p might be significant on the Solgold journey. We are certainly due a good deal of extremely “price volatile” news or events in the very near future, which, despite my apparent pessimism, I am quite excited by! Take care, and apologies if I appeared to jump on you there.

FoF.... if you are a new, genuine poster to the Solgold board, welcome. If you are the same one post wonder who regularly pops up to cause trouble, please don’t do so on the back of one of my posts.... thanks.

Ok, perhaps I need to be clearer. I over the years I have invested in many companies, for several different reasons. Most of my portfolio is designed to give me regular dividend income, with hopefully some growth and / or security on the side. Several shares have been purchased in a more speculative fashion, Solgold being one of these. On all these speculative type investments, my initial research has either proven correct, and I have made money, or incorrect, and I have lost money. The winners, I take my profit, often leaving some invested if I believe there to be future growth potential.... or sometimes just for the sentimental he’ll of it. The losers, I exit, and take my losses. I confess to regularly allowing my losers to run too long. Then welcome to Solgold. All my initial research has to date proven reasonably accurate, and the value I perceive my initial .... and subsequent...investments to be worth far exceeds the value reflected in today’s SP. That is what I mean when I say the share is the dog of my portfolio. I love and hate it in equal measure. As I have said, many times on this board, but seems I need to repeat.... I invested here because I believe in the company and it’s assets. And I am bloody minded enough to wait as long as it takes to realise my true value here. I am in profit. But please, don’t try to convince me to get excited about a move from 10p to 27p. If I was remotely interested in that, as you’ve said yourself, I could have exited at 40p plus years ago.

Nope, just an honest realist.

Novice.... we were 27.6p on 5th August 2019. So a loss in a year. It’s extremely disingenuous to just pick a SP from a single point in time..... one when all stocks were trashed by a global pandemic not seen in my lifetime.... and allude that we are therefore invested in a marvellous company just because of the subsequent rise.
I believe in this company, and agree with much of the reaction when the regular derampers with there own agendas appear... but this kind of nonsense doesn’t help our arguments in any way. This share has been an absolute dog for many investors for many years. Whilst I am a big supporter of this company, and have my money where my mouth is, there is absolutely no getting round the basic truism that my money could have been much better invested almost anywhere else for much of the past decade.

Many apologies if posted already, but nice reading, even if nothing new to us.

https://stockhouse.com/opinion/independent-reports/2020/08/04/dynacert-mcphy-solgold-right-shares-for-future

Theiceberg ....
“ I am not even that excited about the current SP as this is so just the start....”

Oh I am so glad someone else thinks this. All this talk about breaking resistance at 27p and big buys.....for heavens sake. It was driving me mad! We need news. And lots of it.... or a bid or two....to move this anywhere near value of what we have in the ground, and that’s leaving aside the extra value achievable if you are one of the folk who believe Solg will still be around when it comes out.