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It could be that, Hemo. Or he said it as a vague statement that can't be quantified (typical management speak). You know, because he is the guy who has presided over a collapse in the share price?
A cynic would say the director buys were fairly small, and came at a time when the SP desperately needed stabilising. What better way to try and project confidence than to buy a few shares? The SP has always risen on FOMO and it would benefit them if they generated some. What it actually did was remind the market that the talk of data room interest wasn't near to yielding anything interesting enough to block insiders from buying.
this is the link for the loan agreement if you want to read it
https://wcsecure.weblink.com.au/pdf/dgr/02763329.pdf
i picked up on this post on hottcopper and thought it was worth posting here, this is from ****nic on hotcopper
"i think there is an alignment of nm's interests and those of sh at least myself. i perceive the solgold asset a jewel and to be saved at all costs.
the fact that bhp and others want it is enough for me. i've just had bhp knock back a $400m option to develop kalkaroo from havilah resources. i'm sure others will develop it. when i discussed it over christmas in depth, with my brother-in-law, who was an executive with bhp. he said bhp want quality expandable assets of material size. that's what cascable and its leases are. people can say whatever they like to me it's a tier-one asset and will be worth plenty from a 2025 cu price jump likely starting second half 2024."
He always had confidence but history has shown it has sometimes been misplaced. To be fair he probably hadn’t allowed for a pandemic, increase in interest rates delaying and disrupting things.
I think hope might be a better word than confidence in this case.
If it goes wrong there is a big slice of shares up for grabs in November if we are still here.
Following the recent discussion and joining the dots, Scott's recent statement 'SOLG are in the best position they've ever been in' is most likely because (probably because for the first time in many years) the BOD are finally ALL aligned with the same goal, they want either a sale of the asset or and the company, and this is also reinforced by multiple director buys last quarter.
Now the best way to achieve that goal is to deliver a highly attractive PFS (due very soon) that has an entry cost of $1-1.3bn that will attract multiple entities to want to get involved, because that will force the majors to the table and then it's game on. As I've said before, this will be a very interesting quarter and all being well, a highly profitable year.
DBW, he's taking a massive gamble and appears to have bet the house. At his age this suggests either a huge degree of confidence, or a huge degree of desperation.
Watch the derampers s+hit themselves now...
Anyone who is invested should join the 'shareholders' telegram thread.
Eloro, idiot1988 and Needaroot are not invested here and never will be. They are paid derampers.
Mather knows Solgold will be sold before Armour loan requires to be repaid
Hold onto your hats and log off this rubbish thread.
Actually BBG that’s a good point …. How else would he hope to refund the repayment
BBG, you are a plonker! However, the question is would he benefit more by allowing DGR to default?
He would if he ends up getting the DGR assets in the event of a default.
Agreed Add, I was perplexed to read that he wanted a sale given his previous objective for us to become a producer. Something definitely caused him to have changed direction so suddenly. That said, we as shareholders need to be extremely vigilant so that we are not sold down the river by self loans which are designed to fail and thereby transfer the assets to the lender at our expense.
Mather betting the farm that he will have sufficient cash before November to repay Armour loan...
I wonder why he is so confident???? Imminent corp event here?
He badly needs to get his hands on some liquidity, but this has been the case with DGR for some time. I wonder if this is at the root of his obvious change of mind about our future direction? One moment he was supporting DC with plans to take us to production, the next minute he wasn't.
That's a real shame needy, and yet you're a real glutton for punishment here buddy...
Incidentally, totally agree with you Add re the machinations at DGR. I am thinking that NM must expect a payday soon for him to have made such a move. I would think that his relationship with Choice should be examined by DGR shareholders. When it comes to money, trust is a rare commodity.
I have expected a reader to ask not long to go for what because I used the word before in that sentence. But I hold up my hands for not being more clear. It was late in the night.
Working from home today.
Eloro, well, no, I didn't mis-read it, but you've now provided clarification. Thanks.
Add, you miss-read what I am saying. Hopefully not long to go before we run out of money....I am saying, hopefully not long to go before we are sold before we run out of money. I am not a turkey voting for Xmas. My fault , I should stated specifically what I was thinking more clearly, without ambiguity.
One other thing worth noting. Choice obviously believe the DGR holding here is worth something and, given this is DGR's most important asset, there would have been a lot of discussion around our situation and just how liquid their holding actually is (not very) Wouldn't we all love to know what he told them?
Mather is obviously confident Armour has some value and has devised an ingenious scheme to gain control of the company, but I'm glad I'm not a shareholder in DGR.
Under normal circumstances you'd think this is of no relevance to us, but he appears to have pledged our shares as security, which Choice Investments (owned by the Mass Group, a construction company) would end up owning in November if things go wrong. (Clearly, no agreement exists between us and DGR which prevents them using our shares in this way, although Mather's personal holding may have that restriction).
Mather has a lot at stake and is betting on being able to salvage Armour and simultaneously achieving value here. If his plan goes wrong and we're still an independent company, come November we'll have an added instability to our shareholder base.
Eloro; 'Hopefully, not long to go before we run out of money'. So you actively want people to lose their money, do you? If you're so intent on losing your money, why not sell now and save yourself more angst?
1984, I am exasperated by the corporate shenanigans and would love to see an end to the SR and the current uncertainty.
Folks are focused on our copper, but with the price of gold, and solg having 23m oz, this asset might become more attractive than the copper. China is buying gold at an accelerated level. Hopefully, not long to go before we run out of money.
DGR is clearly in the grasps of death finance and won’t last long. It’s a warning shot; as we’re in the same boat if we can’t stop all expenditure and ride it out
But DGR has a healthy position here so who takes them out might be interesting
Definitely looks dodgy NAL.
However, given that NM now has all of his hopes and dreams tied up with solg, one got to figure that he needs it to come good so that he can walk away with all of DGR's former assets. I think we at solg only need to start worrying when we borrow money from NM instead of a raise or selling the Cornerstone shares. Hence, NM needs a monetization event here. I don't think the Chinese will mind dealing with NM. One thing for sure, Warren isn't happy watching his heavily involved position getting hammered to become an actively interested position.
Eloro.
That's what made me smile at novices hoping I lose a fortune on solg.
I have lost a small fortune on dgr. I brought @ 9c.
And mather has royally shafted me ever since.
And while he's still pulling the strings behind the scenes at solg. Nothing will happen.
Believe me, many, many ceo will never deal with a company he's involved in.
I am always weary when a person starts loaning money to themselves. Not a good sign. GR of PREM did that. The end result is that that person doesn't lose because they end up owning the asset when a default occurs, but the shareholders of the company who borrowed the money gets wiped out. Hence, NM is Armour, and NM is DGR. DGR assets gets passed to Armour in case of a default, and the DGR guys gets wiped out. The only winner is NM who gets DGR's assets at the expense of DGR's shareholders. Not good.
Novice, FYI, I have lost far more money on bad choices over the years, than I care to remember.
I have also made modest amounts over the years.
As I've said many times, I only invest in exploration companies.
So I am fully aware of the risks.
What marks me apart from others on here.
I do not have to constantly make up more and more ridiculous stories to try to impress others
Neither do I have to daily spout, that I know what's going on behind the scenes, or that I have fictional contacts.
Also, try to remember I brought at 3.5p, so although I'm disappointed I never hit the big time.
I've lost nothing yet.