Solgold Share Discussion Threads

[thelung] 27/11/2020 11:01

DD, have you ever been to Barnard Castle for an eye test?

[dozyduck] 27/11/2020 10:44

Back to what counts
Worrying number of new shares NM wants headroom for. Maybe OK if its part of Alpala funding but not if its to fund further exploration - just means the mega dilution investors (and probably BHP and NCM) are afraid of is even more visible. Doesn't matter if it might generate value 'in the long term'. Shareholders would prefer at least a managed rise in the shares within a reasonable timescale - which won't happen if NM pursues his current agenda. His 'alignment' with the interests of other shareholders is weasel words. What 'interests' exactly ? They may not want to wait a decade while his empire building bears any fruit . They don't have his current $millions to see them through (and the majors might not want to wait either) until he becomes Emperor. No wonder he is grubbing for votes. I'm not voting yes.

)

[mwv1] 27/11/2020 09:20

Copper price motoring now through $3.39 per lb up over 5% this week alone.

[shakester2] 27/11/2020 08:23

Sorted my vote too. Have a feeling the big boys are conspiring

[wapping67] 27/11/2020 07:12

Mirabeau, they are historical sales to the end of Sept 2020 and therefore .....they are not selling stock but they have previously sold stock which is declared and accounted for

[michaelfenton] 27/11/2020 05:46

Remember this is in the main a copper play which is on a roll. Gold a nice extra.

[michaelfenton] 27/11/2020 05:33

It is MY view that whatever your thoughts are about NM he and the majority of those on here do not want to lose SOLG for a miserable bid of say 50p. So we need to support him at the AGM or who knows where this will go? For those who do not know, if you instruct your broker they will deal with the whole matter for you. Mine did (charlestanley.direct).One simple message setting out your wishes and they do the paperwork.

[zoros1] 26/11/2020 22:53

Pob - yet again, a good spot - thank you.
How then, does this 'discovery' (PFS date) fit in with this one published 3 days ago:

hxxps://cornerstoneresources.com/site/assets/files/5534/cgp_corporatepresentation_2011.pdf

Page 10:

"...Pre-Feasibility Study(“PFSR21;)
•underway, expected to be completedQ1 2021, with definitiveFeasibilityStudy end of 2021..."

Z

[mirabeau] 26/11/2020 22:49

It seems CGP is selling some of their SOLG stock

thanks to Aquinaga on LSE

'During the nine months ended September 30, 2020 the Company sold 12,185,838 (December 31, 2019 – 829,576) shares of SolGold Plc for total proceeds of $4,526,585 (December 31, 2019 - $279,013) and recorded a loss on the sale of long-term marketable securities of $3,069,597 (December 31, 2019 - $238,112) in comprehensive (loss) income. The unrealized gain for the nine months ended September 30, 2020 is $23,698,539 (December 31, 2019 loss- $73,065,395).'

[pob69] 26/11/2020 22:21

So much heat rather than light posted here sadly. No facts, just unsourced opinions treated as gospel by the originator.

Essentially no one knows the truth this second or the next second...

Do your own research and don't just rely on people shouting constantly....

The Cornerstone MD&A just published states a Q4 2020 PFS....SOLG $SOLG $SOLG.L #porvenir #cascabel #ecuador $CGP

"SolGold has announced that a Pre-Feasibility Study (“PFS”) is expected to be completed prior to the end of Q4 2020, with a definitive Feasibility Study scheduled for completion sometime in 2021."

[arcadian] 26/11/2020 20:23

zoros - I voted for all the resolutions including the potential pay rise but you wrote


I am NO fan of NM, I think he is a poor performer and very inefficent. I for one would be more than happy for someone else to hold the reins @ Solg.

Why then did you vote to reinstate him/them?

Just voted:
Resolutions 1 to 11: For.

Just curious

[dozyduck] 26/11/2020 20:16

My criticism wasn't that a completed PFS was being delayed for some reason. It was aimed at those on this board who don't seem to understand the complexities. Try to imagine what scale of work is required that costs $100m. And read a typical pFS that extends to some 500 pages to see the work that must go into it. Even Solg's PEA was 438 pages of dense scientific data and caculation. The PFS will have to review every element and more and will be even thicker. Even one of the thousands of separate items in it - if delayed or having to check something not allowed for or having to be redone would hold up the whole report. NM will have many people reporting to him that they expect to complete their bit by so and so date. If just one of those proves unreliable, or goes off sick or drops dead, will, again, hold up the whole caboodle. And NM will be looking stupid. And obviously he is under pressure to deliver as early as possible, so maybe trusted others too much.
Just pointing out that planning a mine and estimating cost and time for every little bit is an immense undertaking. I know because I was an early user of PERT - if you know what that is and what it is for.

[michaelfenton] 26/11/2020 19:27

I have sent my broker instructions to support the board.

[goodgrief] 26/11/2020 19:10

lefrene, "their skills at getting that value reflected in the share price are dire" ... that's what a few of us have had the temerity to say of AAZ management even before COVID and border skirmishes. But the consensus opinion is that management walk on water!

[lefrene] 26/11/2020 16:52

LT, I agree, but you left out 'confidence in not diluting share holders into penury'. They need to sell something, with $3 billion in the kitty the whole 70+ shooting match can be drilled to high heaven.

[lowtrawler] 26/11/2020 16:40

LF, when you are years away from getting any positive cashflow, confidence is the main currency that drives your share price. Confidence in the resource value, confidence in the costs to extract, confidence in the timeline, confidence in management to deliver, confidence in the political environment. The PFS is a key milestone in providing confidence.

The management team can only earn confidence by always delivering on their promises, meeting deadlines, working to budget, avoiding nasty surprises. SOLG need to transition from being a small explorer into being a trusted developer. The new management team will help but the current team have a poor track record and it shows in our price.

[rougepierre] 26/11/2020 16:39

UT 36.35 down 3.3%...

[lefrene] 26/11/2020 16:23

LT, I agree, their skills at finding resource is excellent, their skills at getting that value reflected in the share price are dire. I might be being a bit hard, as plainly there's a lot of big money politics going on to which we are not privy, one hopes NM is working to a cunning plan!

At least the price of copper is looking up at very long last.

[goldrush] 26/11/2020 16:22

We always thought the AGM voting could be close.....The changes to the corporate governance structures swung the balance back towards favouring NM(because it was now seen that he could not easily issue shares to his cronies etc)....he brought in the Chinese investment at 0.8% (probably the most he was allowed to do).....perhaps this has galvanised BHP,NCM (with CCP in the background in their pocket).....the couple of % which is around in these BBs could be vitally important....

[zoros1] 26/11/2020 16:05

Just voted:
Resolutions 1 to 11: For.
Resolution 12: against.
Resolutions 13 to 15: For.
Z

[mad foetus] 26/11/2020 16:01

BUR issued a similar RNS prior to their EGM to get a US listing (in may from memory). It ended up being passed around 95-5, so not sure you can read much into it

[lowtrawler] 26/11/2020 15:48

LF, "perennial disappointment"? We have likely just discovered a 2nd Tier 1 and once Rio starts drilling, maybe a 3rd. It's disappointing when they constantly miss their own self-imposed deadlines but that pales in comparison to their success at finding resource.

[lefrene] 26/11/2020 12:30

Or 3, Nick did know, but kicked the can down the road to maintain confidence. It's no longer on AiM but it still behaves like a typical AiM business, ie plenty of talk but nowhere near as much walking as advertised. One hopes that the business will get through this period of perennial disappointment and start to deliver on the huge potential.