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First of all I am grateful that he found the time to call and answer a few questions.
Website. Yes it's well over due and he apologised. There are no underlying or sinister reasons for the delay just that the company doing the work are slow.
Political situation. Both the the remaining candidates are pro development so he is not concerned and stays out of politics. Despite media reports of civil unrest he feels safe living in Ecuador and is happy going about his day to day business.
There are a number of parties active in the data room. Some we are likely to have heard of and some we are less likely to know. The one thing they all have in common is a balance sheet sufficient to become a strategic partner. So potentially deep pockets.
There is still no time constraint or limit for the strategic review which is ongoing. The political situation has, howver slowed things down.
There is "a lot of interest" in Espejo in the north and Cana Brava and El Cisne in the south. Some work is being done to try to decide where would be best to drill and permission will then be sought. ( I'm a little vague on this but there is something happening).
There has been a new company sec appointed. The previous one was standing is after the departure of Karl so little to see here.
The financials should be out on the 26th and will contain some information regarding the departure of Cuzzubbo.
The newest plan of action for Cascabel should be out in Q1 2024. Still block cave. Negotiations are ongoing with the government for permits for tailings sites etc. The plan is likely to be a low cost option and phased approach to develop Cascabel .
As a shareholder Scott is disappointed in the SP but, if he was not in a lock out period due to the impending financials, would see it as an good buying opportunity and buy more (if his wife let him). He said this twice.
We discussed holding another webinar which looks likely but may well be after the release of the financials.
So nothing ground breaking but good to know big companies (plural) are in the data room and that there is interest in the regionals.
Many thanks 🙏 Shippy
Morning all.
Thank you Shipright for taking the time and sharing the information, much appreciated.
Pinot
:0)
Am I correct in thinking DC was claiming $1m compensation for unfair dismissal?
DM, you're spot-on about the web site.
Thank you Shipright.
May I ask a question.
There are a number of parties active in the data room. Some we are likely to have heard of and some we are less likely to know. The one thing they all have in common is a balance sheet sufficient to become a strategic partner. So potentially deep pockets.
Does this mean we are looking for a partner to bring this to production. As no mention of we are up for sale.
But we are looking for a partner with the available finance.
Hence a JV.
MBS on the hunt too...
Agree DM. A really poor story there with zero to get excited about.
They're clearly happy they'll get the support at AGM. How they'll manage this I don't know.
Completely agree about the regionals. Someone explain to me how Helipuerto isn't an urgent drill given the geophysics and Solaris next door.
Getting very tired here now but not in the business of bailing for a cheaper entry.
We now need a hail mary. Rotten.
Thanks ship
Maybe nothing to set the world on fire but equally nothing there to concern us
Both candidates supportive
Plenty of interested parties poking around
They might even get the financials out on time
Not sure I buy the story re the website and I still think there’s more to it …… 7 weeks without any news and counting. Still at least we’re having some beautiful weather….. is it too early for a cold one ?
Grazie Shippy, always a collaborative and useful poster, taking the right initiatives and not wasting time with pointless speculations. In terms of content of you chat with SC, I think the actual positive is that there is just slow progress given the landscape rather than mysteries and conspiracies and alleged incompetence. Anyone running a company would know how much time and effort is spent on the daily grind to move things forward, and things often move slowly.
The DC information in the financials will be purely pay and settlement related ... Almost certainly, nice and fat and juicy, and not remotely related to performance.... 21st century corporates are gonna 21st century corporate I guess... and maybe update on the legal action he said would happen...
The world and his dog, waiting for updates on solg. the world and his dog desperate to get updates on solg plans and direction. does Scott put out a res. does he make a press announcement.
no he gives skippy a ring
thank god we've got ship. not only has he had a cosy chat with scotty. but scotty advised him to buy more shares. company ceos advising a retail share holder to buy shares. mmmmmmm
and 9 gullible desperate for news fools, recommend the post.
couldn't make it up.
Nal, your absence over the past couple of days made me wonder whether you'd been bitten by a particularly venomous snake, but then I realised no snake would take the risk of being poisoned.
Thanks Shippy.
I think there a couple of interesting tidbits here when we sum together everything that has been shared. Setting aside the website incompetence (laughable) and what is likely to be some bad news regarding Cuzzobbo, we've been told that:
1) Scott is not bothered about the political situation as both candidates are supportive of development. His attitude comes across a little blasé but we'll roll with it.
2) The outcomes of the strategic review have been delayed, or the process has been slowed due to the political situation.
Can we infer that, if Scott/SOLG doesn't see politics as an issue, that the delay to the SR has come about due to political concerns from a third party and their future involvement with Cascabel/SOLG/the regional portfolio? It's hard to square the circle otherwise in my mind.
Finally, I agree with Quady that the "strategic partner" language is definitely more of a nod to a JV than a buyout.
P.S. Nal, if you think Shippy has fabricated the post, I'm sure you'll be sending an email to the company stating as much, as misrepresenting the company's position on these issues would warrant action. Though I do recall last time you tried to send a basic email to SOLG you were incapable of doing so. Thicker than two short ones you are matey.
Adikt. your naiveté, knows no bounds.
caldwell phoned shippy. get a grip
I know the usual clowns like aquinaga and dinner money and co are out of there depth, but I genuinely believed you was a tad brighter. no hope for you mate. read the posts. aquinaga, dm, copper pot , quady , attention seeking fools ,in any walk of life other than this board I am certain you wouldn't give them the time of day .
just filter me mate, you will be happier wallowing in the solg fantasy world without any interruptions, hang in there with the clowns
Shark. just as a point of interest your earlier post.
Christ. Nothing of any substance for another 3 months or so. More talk of developing Cascabel ourselves. Two big agreements with the Ecuadorian govt to finalise by year end.
Taking my money elsewhere for a bit. Best of luck to you all.
why are you spending so much time on here if your not invested.
clowns and fantasists spring to mind.
Check my post from last Friday matey when I bought back in! And as for spending so much time here... people in glass houses etc.
Hi Shippy,
Thanks for setting this up and taking the time to do this (and Scott for taking time out to discuss)
Don't look like Irwin & gobshyte Sanga are anywhere near a sale or any such like does it!
quelle surprise!!!
Anyways, thanks again.
atvb
r's
BN.c
Fast and smart such a big disappointment!!
It's all very well for Scott to claim that he is a shareholder, but he doesn't appear to accept that it's his responsibility to look after the SP. I bet if his bonus/compensation was gated by the SP performance that he would be singing a different song.
I am not impressed with his performance to date. All talk, and talk, and no actions leading to meaningful outcomes.
Eloro,
Scot can't say anything that is not already out in the market via updates or presentation. Any new information has to take route of RNS is deemed necessary or price sensitive etc. So just because the telcon tells you nothing new does not mean that there are not lots of things going on in background. It's clearly sensitive stuff and with Ecuador elections and NCM/Newmont deal both concluding in October, I think these outcomes have some effect and as such are a drag on events.
That said... no one can ignore or contest that the last 12months have been nothing but a bore. Key red tape events signed by Ecuador gov are welcome and precursor to bids or deals and the ink is still drying on the last one signed.
If Scott and co do not deliver anything meaningful pre AGM then I think it's quite possible BHP & Newmont will be able to stir up some anti BoD's stuff.
Agreed Fort,
However, had he not criticised previous management, thereby giving the impression that he will be different and will deliver, then folks I believe would have tempered our expectations of him.
I have worked for companies where share price performance is a key part of the leadership deliverables, and I can assure you that they always found something to say which gave the market the impression that things were getting done. I would love to see Scott's pay being linked to KPIs which includes the SP performance.
I am grateful however that he hasn't talked about first mover advantage, nor cabs off ranks. His oft repeated phrase is the right rocks. He will be having rocks dropped on him at the AGM if no meaningful outcomes by then.
Eloro
I'm pretty sure his bonus is linked to performance. Not sure where he said this but I have heard him saying it.
It doesn't look very rosy at the moment.
Skippy, of course you did. The same same as you tell people daily you've filtered me, yet respond to my posts.
Clowns and fantasists.
Shark. You told us in may you was selling up.
You've been posting on here regularly since then.
Completely out of your depth, but posting constantly for 4 or 5 months. Why would you be on here daily if youdont hold shares.
Clowns and fantasists