Solgold Share Discussion Threads

[mknight] 10/11/2020 12:06

Fsa watcher

Your probably on the right lines he may have spent some time with a female who was working at the firm .. who knows it happens all the time .

[fsawatcher] 10/11/2020 11:53

i fink its obvious that mather fallen out with him coz hes gone from every company mather involved with innit

did he poke nicks wife?

it dont look professional just personal

you sold out another wedge then red stone?

thought i saw sommat go throuo early mornin

50 shares woz you wasntt it?

[pob69] 10/11/2020 11:42

Paid for interview with Cornerstone with just a passing reference to Cascabel (!?!) SOLG $SOLG $SOLG.L #porvenir #cascabel #ecuador $CGP

[jlondon] 10/11/2020 11:41

RT
You are insinuating "a man of principle & integrity."
Then, you start with your thesis.
Clear what you are stating and that is conjecture on your part intimating X, Y & Z. For the avoidance of doubt, leave Mr J to put in his own C.V and not your interpretation as there is NO NEED given the RNS is NOT about anything to do with THAT aspect AT ALL??

From the CGP takeover etc, it was made clear that there will a strategic review at Solgold and that NEW APPOINTEMENTS WILL FOLLOW. All the new RECENT APPOINTMENTS are of a different senior level who are specialists etc in their respective fields?

Isnt this happening PRIOR to the ALPALA PFS and Funding Update?

What you are saying of Solgold, its board and Mather is not funny - if you dare post it on Hotcopper because it is also relevant. If you dare not, then it is because there would be CENSOR [rules of posting re:slan etc] given the hint or rather the overt examples of co*s where the CFO has left and its due to dis and dat, hence why you inserted Mr J is a man of principle and intergrity. You are jumping to conclusions of a serious nature? PROOF: If in the coming days, there is no such alleg proven, then it was just jumping to conclusions?

Hence, why we [shareholders] have to put you right to get some balance? If you are a big holder as you assert, then CONTACT the Board of Solgold and check for yourself. Others can do so as well. Ask.

[rougepierre] 10/11/2020 11:35

Thanks aplenty...

[rougepierre] 10/11/2020 11:35

Why do you have to pick a fight JL...

They were MY WORDS...where did I state that they were in his CV...?

It is an openion...are you implying that he is not...?

Just read the entirety of his cv...this is a man of principle and integrity...

AIMO AS USUAL...

[rougepierre] 10/11/2020 11:31

Samuel Terry (I believe a Nick Mather investment medium) has in creased its stake in DGR from 5.2% to 6.5% (63 million shares) and they've acquired a further 11.7m options...

Tenstar Trading (another NM medium) has also acquired an additional 33m shares to maintain its 18.32% stake...

Nick and his wife have directly acquired 23m shares and 11.6m options...giving him 163 million or 16.86% (potentially 175 million)...

Tightening the grip all round...

And guess who holds Nick's direct investment...Citicorp Nominees...

[plentymorefish] 10/11/2020 11:29

No, I don't think your posts will have the slightest impact on SOLG's share price ....your musings are overt, not covert so I don't need to read between the lines......you are 'filled with concern' at the sudden departure of the CFO.....that's clear and concise.....you also believe he's a man of 'principle'....that's clear and concise.....when a CFO leaves a company suddenly, 'it is not well regarded in any quoted market'.....that's clear and concise......despite your misgivings your happy to retain your '£280k worth of shares'.....that's clear and concise.....'hands up I got it wrong' that's clear and concise (I'll take that finally as an apology)....I'll leave you to your 'research' and thanks for sharing........

[jlondon] 10/11/2020 11:23

Priyanka Jayasuriya, CFO
Linkedin
The link: hxxps://au.linkedin.com/in/priyanka-jayasuriya-415ba49

Comment:
Mr Jayasuriya did N O T put into his C.V: "...a man of principle and integrity" per RP #27333 of Nov 10,2020. That was RP*s OWN insertion as there is NO such entry in Mr Jayasuriya*s Linkedin C.V.

[rougepierre] 10/11/2020 11:18

Don't be daft plentymorefish...

If you read between the lines, to me it increases the possibility of takeover...

Do you honestly think I'm stupid enough to try and devalue £280k worth of shares...

Do you honestly think my posts will have the slightest bearing on the share price ..

There are things afoot...I believe what has happened may go to the core of the dichotomy between taking Alpala to production or SOLG being predated...

If anything I am reassured by the resilience of the share price today...I think there may be a 'tug of war' going on, but I actually think this increases the chance of a share rise in the near future...

Why do you always have to suspect motives. I was wrong on the other matter because the list of share trades I was able to access did not show the afternoon trade of 650,000...

Hands up I got it wrong...does nobody else on here...?

[dozyduck] 10/11/2020 11:17

I don't think linkedin profiles are produced by disinterested independents ! There are so many outstanding individuals with stupendously significant achievements that one wonders why there is a shortage of such people everywhere else.

[rougepierre] 10/11/2020 11:13

The DGR Global equity issue was oversubscribed and anyone applying for less than $50,000 extra was allotted in full.

The proceeds were used to repay the Tribeca Convertible Notes and this part is significant:

"The Board also wishes to advise of the full repayment today of the $10,000,000 Convertible Note facility with Tribeca Investment Partners, leaving DGR Global and its assets unencumbered. The Board would like to take this opportunity to thank Tribeca for their financial support over the past 3 years."

DGR's shares in SOLG were pledged as security against the notes.

Not only does this give DGR back its control over its SOLG shares (10%+), but it cuts off a potential avenue for a SOLG predator who, if they had bought the notes, would have had control over the pledged security...

[plentymorefish] 10/11/2020 11:09

You have no idea of what is going on behind the scenes at SOLG. Your use of phrases such as 'fills me with concern' strikes of being a drama queen with no evidence of the market sharing such 'concern' based on today's SP?.....interestingly in your example of your previous role, the company went into liquidation 2 years after ignoring your advice......are you inferring that will be SOLG's fate or is that just there to scare us 'numpties' (your words, not mine, for which you've still yet to apologise)....what evidence do you have that the former SOLG CFO 'seems to be a man of principle'?....your posts are odd for someone who claims to hold 900,000 and it's difficult to fathom what your agenda maybe?.....

[rougepierre] 10/11/2020 11:07

From DGR ASX Announcements...

Karl is interim CFO there...why not at SOLG...?

"DGR Global Ltd (DGR, the Company) wishes to advise that Mr Priy Jayasuriya has resigned by mutual agreement as Chief Financial Officer of the Company, effective immediately. The Company has commenced a review of its management structure and has appointed Mr Karl Schlobohm as its interim Chief Financial Officer to provide continuity until the review has been completed.
Mr Schlobohm is a qualified Chartered Accountant who has been with the DGR Global Group since 2009 and has previously acted as the Group’s CFO."

[rougepierre] 10/11/2020 11:05

Priy Jayasuriya...a man of principle and integrity indeed...

Extract from his Ernst & Young experience below:

"Enhanced regional working relationship with Hewlett Packard and Intel by consistently displaying highest levels of integrity and transparency in all dealings."

Ernst & Young
Executive Director
Company Name Ernst & Young
Dates Employed 1995 – 2010
Employment Duration 15 yrs
LocationSan Francisco Bay Area, Singapore, Brisbane
My key responsibilities while at Ernst & Young (EY) included the following:

Actively involved in developing business & financial strategy, reporting, management & development of policies, systems, processes, etc for clients across IT and Bio Technology industries including US publicly-listed companies, and Australian publicly-listed and privately-owned companies.

Prepared Audit Committee Reports, encompassing high-level reviews of the financial statements and audit issues that directly impacted the financial statements, including any operational issues.

Provided leadership to a team of over 30 finance managers across a client portfolio encompassing 9 audit engagements and generating AUD $4+ million in fees. Monitoring their activities to ensure highest individual and team productivity.

Successfully coordinated the worldwide and Asia Pacific regional audits of Hewlett Packard, Intel and Louis Vuitton’s subsidiary DFS Galleria. Directly responsible for working with teams across the Asia Pacific region to identify and resolve operational issues with a financial impact. Provided subject matter expertise for assigned geography, lines of business, and functions.

Enhanced regional working relationship with Hewlett Packard and Intel by consistently displaying highest levels of integrity and transparency in all dealings. Participated in Country Financial Reviews with Hewlett Packard and Intel Senior Management to identify business and accounting issues.

Collaborated and travelled with—and reported to—Senior Regional and Worldwide Client Management to identify and resolve potential business and accounting issues, and anticipate and fully meet client service needs.

Selected to serve as US GAAP / US GAAS expert for internal service teams throughout the Asia-Pacific region. Frequently sought out to provide high-level advice on both technical and general operating business issues by staff across the region.

[rougepierre] 10/11/2020 10:58

Of course it is entirely possible that, if Nick has charged Ingo with all corporate finance matters, that could conflict directly with Priy's role.

It would be interesting to be a fly on the wall at BHP, NCM, CGP and Blackrock this morning...

It looks like Nick's grip on DGR and SOLG has tightened further...let's hope for his sake that there is no substance to CGP's accusations regarding governance irregularities...

Coming back again to the duty of a COMPANY to put the interests of ALL shareholders first...that includes you, me and all the above stakeholders...not just Nick and DGR...

Nick may not realise it yet, but unless Priy has pressing personal reasons or has committed some impropriety, SOLG may suddenly have become much more vulnerable to predators than it was four hours ago...

AIMO as usual...

[rougepierre] 10/11/2020 10:46

Having been GFD of a quoted company, this morning's RNS does not fill me with joy...

The CFO/GFD of a quoted company is the second most important position after CEO.

They are the prime point of liaison between the company and its Nomad and are regarded as the key role in protecting shareholders' interests...

His sudden departure fills me with concern; when a CFO/GFD leaves a quoted company suddenly it is not well regarded in any quoted market.

So there must be a very important reason, because he was not only CFO of SOLG and DGR, but also of all DGR's UK quoted subsidiaries.

I have posted an extract from hie Linkedin entry below, but there are two key aspects where a GFD may feel the need to resign as a point of principle.

The first, is where there is a fundamental difference between the CFO and CEO over financial strategy. This is what led me to resign mt role at a quoted company. I was concerned that unless we realised assets very quickly the company would be in serious financial difficulty. The CEO/major shareholder disagreed; the Board supported him. I had to resign; two years later the company was in liquidation;

The second is where there is a material difference of materiality in relation to governance going forward. So, for example, there may have been an alternate proposal for SOLG going forward that Priy supported. The formation of this Alpala Committee looks like a definitive commitment to taking it to production.

Remember, above all the CFO is there to protect ALL shareholders interests...he seems to be a man of principle and has been at DGR/SOLG for 10 years...

Here is a key statement from his Linked In entry...

Watch this space...

"In my current position as Group CFO of DGR Global, I have recently been successful in overseeing the largest Oil and Gas Exploration IPO on the ASX over the past decade as well as being an integral member of the team that worked on an additional 2 IPOs within the group. Very much a “people person” I have been responsible for managing the Group’s key stakeholder relationships with its bankers, corporate advisers, lawyers, auditors and regulators. Additional successes with Ernst & Young include serving as the internal US GAAP Expert for the entire Asia-Pacific Region while based in Singapore; being hand-picked by senior management to relocate from the USA to Singapore to manage 3 of Ernst & Young's most prestigious clients and been seen as a business partner for Hewlett Packard and Intel in the Asia Pacific region."

AIMO as usual...

[jlondon] 10/11/2020 10:43

Solgold RNS, Tues, 10 Nov 2020:
"Formation of the ALPALA PROJECT C O M M I T T E E."


Ref:
Appointment of Clive Latham at Greatland Gold.
"He served on the operating COMMITTEES OF E S C O N D I D A & G R A S B E RG.
["Greatland Gold appoints former mining Rio mining veteran."-Proactive Investors, 15 Oct 2018 [Put title into the search engine to read and check]

My Comment:
Things are starting to move now - Large Tier -1 mines have operating committees to oversee the project/s, hence Alpala will also follow this industry methodology?

As for the "MUTUAL" CFO RNS, there is now a need for a different type of BEAN-COUNTER, one that has Tier 1 experience as it will require juggling project finance, FCF etc. The NEW APPOINTMENT should provide clarity if correct? This is NOT an FTSE 100 co and with conspiri? Solgold is evolving into Mather*s vision for this co as he stated as Alpala PFS/Funding Update approaches in the near term. New appointments were earlier so this is following the trend to beef up the board etc to run a potential Tier 1 mine ie Alpala? A new appointment of a more SENIOR level?

Example: Elizabeth Gaines joined Fortescue as Non-Executive Director in Feb 2013. Ms Gains was appointed Chief Financial Officer & Executive Direct in 2017. She is NOW CEO OF FORTESCUE. Her Wiki: Curtin Uni with APPLIED FINANCE from Macquarie Uni. Andrew Forrest [Twiggy] is no longer CEO as he is running all over the world looking for growth ie new deposits. Mather said in a Mining Online interview that his vision is to emulate growth of Fortescue.

J.L

[jlondon] 10/11/2020 10:43

Solgold*s 100% owned PORVENIR Hole 2 [Southern Ecuador]
Solgold RNS, 4 Nov 2020
at 839.9m.

My Comment:
The Hole 2 could have now hit 1, 019 metres today, 10 Nov 2020 surpassing Hole 1 Provenir 900m depth [end of hole].

I use a conservative 30m at day although others use a higher figure.

[mam fach] 10/11/2020 10:03

Appologies. Another senior moment.
Covid , Fire break and US election taking it's toll.

[celeritas] 10/11/2020 09:41

Its the 10th of the 11th

[plentymorefish] 10/11/2020 09:41

You must be in a different time zone to me.....

[mam fach] 10/11/2020 09:30

Well it is 11th of the 11th. Not quite 11am though.
Don't we all pray for peace.

[pob69] 10/11/2020 09:24

I've been reflecting on various corporate board governanace issues and recent news to "counter" those accusations;

Cornerstone RNS 8/3/19 criticised Solgold's corporate governance practices making reference to Nick Mather (founder of DGR) appearing to commonly staff his associates to the management team and/or board of directors of DGR's "portfolio" companies, including SolGold, Aus Tin Mining, IronRidge and Dark Horse.

It specifically mentions Brian Moller (Solgold Chair), Karl Schlobohm (SolGold's Corporate Secretary) and Priy Jayasuriya (SolGold's Chief Financial Officer) all fill similar positions with each of DGR and its three publicly traded portfolio companies. We now know that Moller stood down as chair, remaining as NED and Jayasuriya has departed. Schlobohm remains.

Cornerstone in its release dated 15/7/20 details its intention at a future General Meeting to propose that all members of the current board be replaced with five new nominees, each with the requisite skill set and independence to direct SolGold for the benefit of all shareholders.

Solgold has appointed 4 new independent NEDs in 2020, not associated with DGR. Its release 5/8/20 makes reference to 3 NED appoinments to be made in London, Toronto and Ecuador (which has been completed). It also makes reference to Moller and Mather indicating their intention to step down from a number of other listed company Boards (which remains outstanding I think?).

Today's Solgold "Formation of the Alpala Project Committee" RNS is interesting in that is doesn't mention who is Chair but the 2 new NEDs are highlighted and prioritised and it could be assumed that one of them is the chair, especially as it has been set up to "Monitor and support the Director of Studies and Chief Executive Officer and their teams"

I thought it odd that yesterday's corporate presentation moved the CEO to the Management team suggesting a suble "changing of the guard". I will keenly follow the actions of Kevin O'Kane's in the new "regime".

Is this enough to "sooth" concerns from the likes of Cornerstone? "Peace in our time?"