Member Info for WoodyB

The problem we have is that there are less than four months of funds left to pay for the monthly spend. I think a sale is inevitable. Bring it on.

No problem.

Addicknt just to clarify I don't think it's acceptable I completely agree with you. I think they should explain themselves. I am going to see if a rabbit appears out of the hat in October, if not I am going to press them again myself.

You should follow that up with Anna and Nick Addicknt and let us know if they respond.

Quote from Anna I received a couple of weeks ago:
'Operations at Cascabel are progressing as normal and we plan to update the market with an updated resource statement (MRE3) by the end of 2019 followed by the PFS in Q1 2020.'
She also confirmed in reply to my enquiry they will announce material results on regional project, finance negotiations once they have any.

Thanks, I hope so. It will be a great relief if this comes off, but that's the nature of risk, nothing ventured etc.... I know most on here are after £1 plus, which would be brilliant, but after all the ups and downs I'd been inclined to cash in on some at least if we got to 50-60p.

I've just bought 19,600 more. Everything crossed now for some reasonable news on financing.

I have emailed Solgold to enquire if the lack of updates on finance, drilling etc this mean means nothing material has happened. If I get a reply I shall let you know. In fairness to NM he has replied to me in the past on a number of occasions with a full, friendly and frank response in my view bearing him mind his responsibilities/duties.

11% down now, what the hell is going on? Does someone knows something we don't?

I agree RICH3R, unfortunately the lower the cash reserve goes the less negotiating position we have, irrespective of how much potential there is in the ground. My dad always told me it doesn't matter what assets you have, you are helpless if you have no income. I am hoping Mather is going to release good news re financing, drilling permits or new results, just before they have to raise more money, as a lever to get the cash flow. After so long with no real news I am hoping this is why. We will see.

I get mine free via London Stock Exchsange too. Here it is for those who’ve not got it:
The Board of SolGold (LSE and TSX code: SOLG) is pleased to provide an update on the work program and recent drilling at the Company's Cascabel Project in Northern Ecuador.

Highlights:

Ø
Large additional tonnage targeted to be brought into Indicated category at Alpala Deposit due to an additional 68,354m of drilling now completed since the release of MRE#2. Over 201,930m of resource drilling now assayed ahead of the upcoming third Mineral Resource update (MRE#3) this year.

Ø
Resource extension drilling at Alpala Deposit continues targeting extensions to high-grade outliers peripheral to the main deposit.

Ø
Ongoing growth to the existing mineralised system and targeted increases to the resource base at Alpala continues at Alpala Northwest, Trivinio, Alpala North, and Alpala Southeast.

Ø
Greater geological and structural understanding is identifying targets adjacent to main orebody, with drilling now targeting mineralisation at the newly identified Alpala Southwest area.

Ø
Cascabel drilling fleet expanding. A total of 15 drill rigs are expected to be active on the project by September 2019 as the Company bolsters its fleet, expediting the planned Alpala Deposit Pre-Feasibility Study (PFS).

Ø
Drilling is focussed on continued resource extension and infill drilling along the Alpala trend as well as extensive geotechnical, hydrological, hydrogeological, metallurgical and petrophysical work.

Well I am back in at 34.65p. I am pleased this has resolved in Solgold's favour. It does not sound like there is an appeal process, I hope that is correct. What a rollercoaster few weeks I started with 312,000 shares, managed to trade up to 370,000 odd but then lost the gain, so I've ended up with 302,000. It was the right thing for me to get out, I could not afford to lose my stake. I do wonder if this has shaken NM, as the Court case was not a review on how good a company Solgold is or it prospects, but a legal question with a strong wind behind environmental and local issues. Maybe he will review and decide it is time to consider a sale, as these curved ball issues are a huge risk that can derail or delay the success irrespective of how good the company is.

For the record you misquoted me there. All share investment is a gamble as you are placing your trust in the directors and a company out of your control (save for your voting rights). In the case a company this great assets in South America but at this stage no guarantee it can be mined. Hopefully it will come good. You are gambling that the Court finds in favour of Solgold today, I’m not as I’m in cash. My gamble is when to get back in. Good luck by the way!

Yes maybe there’s a whiff but I’m waiting too.

'emails' I meant 'posts'!

Thanks for your research and emails over the last few days, much appreciated.

I hope it works for you Lostagain. I can also retire if this comes off, but if not I’m looking at the long haul to 67/68, but I’m facing that anyway so in for a penny...I’ve managed to get up from 312,000 to 374.000 shares by buying and selling in the last fortnight but it’s immaterial if it goes pop! A big gamble.

Well I’m back in at 28.75, my resolve didn’t hold long. I hope I don’t regret it!

Thanks I’ve got a commercial property mortgage free in a limited company as on balance my view was it’s easier to manage and pass on direct to my kids at some point (I opted against a SIPP). All my Solgold holding was roughly 50% each in my Hargreaves Lansdown SIPP and my HSBC stocks & shares ISA - I’ve not taken any cash out, so I’ve got about £107,000 in cash now and itchy fingers!

Thanks no I sold Lloyds in 2017 to get into this. Missed the high point if 86p(?) a year or two before.