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I had a 45 minute zoom call with Scott and Christina today (the lady who works alongside him)
They were kind enough to afford me this face to face meet (via zoom) following myself reaching out on email a few backs asking some questions and painting my own personal position of dissatisfaction
I'd hasten to add that I had to re-arrange the call a few times due to my own work commitments - which they accomodated with understanding and respect.
I'll provide my notes below
Please remember these are notes I compiled during and directly after the call - I can vouch for them being an honest summary / although I may get some wording wrong or my interpretaion may well be incorrect - but I've done my best
Firstly Id say this - Personal opinon - I believe Scott and Christina spoke honestly and openly - I didnt feel like anything was being hidden or misdirected - they were both incredibly warm and listened to my concerns and answered as best they could without breaking any inside rules
Furthermore - they are 'very' open to increasing dialogie with UK Retail Investors - they asked for suggestions on how this could be progressed - and suggested open forum webinars - which they would co-oridnate (with acknowledgement on both sides that these are not easy to run as its impossible to appease everyone - but the gauranteed honesty and openness)
Notes: In no paticular order - I'm not giving context to each of the notes as I cant quite recall every stream of conversation - its just the notes as I have jotted them down
Solg indeed envisaged and saw coming the political change that is now happening - with Lasso having 14% poularity it was somewhat enivetable
It has slowed things down with with discussions with parties privy to the data room
Was positioned as a slow down rather than an end to discussions - obvioulsy nobody for sure knows what happens next poilitcaly in Ecuador so a breather was to be expected
Scott is based in Quito and sees no disruptions on the streets
Some site visits have been postponed / delayed
Strategic Review couldnt comment too much - there is 'No' end date to it currently although this could change in the future - its an onging process
Current News flow is not the real sexy stuff that retail crave / Cascabel is more engineering type studies
Some of the prospect targets which have come from CGP look very good and have moved into top 10 targets - rising to the top of the ranking list
Not a lot of exploration on going right now
Cost cutting was a necessary - Scott appreciates this doesnt per-say drive SP and is almsot a position that we should have been in in the first place - now we are doing things correctly and sensibly
No equity perceived to be needed in terms of a raise for 12mths
If CGP shares are sold (the ones they owned of SOLG) - it would cause no further dilution - there is no current intention to sell these shares
in the field they are close to finalising a low cost option for t
Thanks DG1, I look forward to the rest.
"No end date to the SR..." Then why did they say there was?
Thank you for arranging the call and reporting to us, really appreciate that DG1.
I positioned I wasnt happy with the article which detailed Bob Sanghas fast and smart bat - I thought it was unprofessional
Scott - Bob is a shareholder and is entitled to say what he wants - like all of us
Re-iteration that we are Moine finders and not Mine builders
Ecuador want this mine built
News will be given when things are agreed or concluded - we will be moving away from promises and timelines that dont come to fruition
Cascabel is a huge asset - Ecuador knows it - they look at jobs and development and revenues for yrs to come - In all likelyhood we wont be mining it ourselves
Scott welcomes discussion with Newmont and will engage with them when the time is right - Cascabel is far better than anything that Nwmont currently have in their stable - and they are gold copper focused - C/A NDA will hopefully be signed in the future with Newmont
It is hoped that Lasso will sign the IPA (investmnet protection agreement - shortly) Both IPA and Exploration Licenses are still moving forward and very much expected to be approved
Scott spent time discussing the geology and sampling and ongoing works - which was interesting but went a little over me (sorry guys)
It was mentioned again that drilling has finished at Cascabel - although engineering studies continue - it was siad that Cascabel is absolutley huge - it could indeed get even bigger - but making a huge discovery even bigger might not really shift the dial
Scott will engage with investors - he's open and honest
My own very brief summary
Do I believe SOLG will be sold tomorrow - probably not
Do I beleive ongoing discussions are happening with interested parties (yes I do)
Do I think the political situation has slowed things a bit (yes I do)
Do I think political change is a show stopper (no i dont)
The SR is open ended - confirmed - with the caveat that could change in the future
Did I feel more assured about whats happening (yes I do)
Thats it guys and gals.......take it as it is......I hope it helps somewhat
Add - I did say that I thought it was detailed as ending in June within the prosepctus - he said this has not been said - its very much open ended but he did say this could change in the future
Great stuff, DG1 and thanks again.
I'm beginning to wonder if I dreamt the H1 comment. Can anyone back me up?
Your very welcome
Part of my post cut off - it was low cost option for tailings facility has been progressed considerably - again not the sexy stuff that jumps the SP but in the overall plan a very inportant part of progress
So, we are 'mine finders, not mine builders' and yet we're working on engineering plans.
We are explorers and yet are not exploring.
Anyone else confused?
Good afternoon DG1.
Thank you for the update.
May I ask if he mentioned Bramaderos and particularly at the Limon target.
We acquired this when we brought CGP and my understanding is we are taking this to production with a JV with Sunstone metals.
I also understand we are 12.5% carried to production.
One last thing and this exchange between was light hearted and jovial
I was saying all we really want is honesty and openness as investors - we dont want to be led or ramped or feel we have been misguided
Its on this basis that we can all take our own decisions - which are Buy - Sell - or Hold
Scott said he'd be a buyer at this point in time.......two things holding him back - firstly closed period until the end of June secondly his wife........I guess a lot of us face the second challenge
I said openly to him - Scott - take this the right way - with 19m+ shares you have 'enough' - he said thats exactly what my wife has been saying
It was a jovial light hearted exchange - dont go basing any investment decisions on it - but I thought it was a light hearted momnent to share
Hi Quady - sorry mate we didnt discuss specific Bramaderos or Limon
He did say the targets that are from CGP which have moved to high priority are in proximity to Cascabel in the North though - if that helps you
Thank you DG1
Bramaderos is close to Cascabel and for me it stuck out as a good prospect when I looked at what CGP owned.
Many thanks.
I think Add - and this is personal view/opinion only
The message is - it would be highly unlikley we will ever be the miners of cascabel - However their are certain engineering / studies that are being progressed........please remember these are my notes in my pad - potentially engineering was the wrong word - in my pad it said engineering/studies/ground works
What i would encourage is that people come together to request maybe a webinar so everyone can have air time and ask questions
Or maybe a consolidated list of questions is sent over to Scott and Christina
Not an easy task - with this LSE board id imagine
Thanks a lot DG1, great summary.
How about asking SOLG to organise a webinar via investormeetcompany? Other companies use this platform quite often (e.g. SHG) to communicate with shareholders and respond to questions live.
I can confirm this is also what I was told in my convoy.
I haven't shared it on here due to the onanists.
Good idea Magoo- then everyone gets to discuss the company they are invested in without being cancelled/deleted and without all the daft name-calling on here
DG1Investor - a very big thank you for going to the trouble of sharing this with us. You have gone the extra mile and I, for one, very much appreciate you "clearing the air".
I very much support a webinar with the BoD representative going fwd.
Best wishes to you.
Z
My thanks also to DG1, that's an example of what an investor should be doing not cacking their pants and ranting on a board all day that the end is nigh because the SP has dropped a few percent.
Thanks for sharing DG1. Top man!
How can a strategy review be eternal or open ended???
At some point you have to decide on a strategy and then plan to execute it!
Otherness, exactly my point. It's total nonsense.
I think the SR stays open until they hopefully get an offer, if they don't get one well we really are up the creek then.
DG1. Many thanks for the update. Although the Colonel won’t like me bringing this up, GGP have an excellent reputation for engaging with shareholders. This is done in various ways.
1. Town Hall meetings in London, hosted by Donald Leggatt of LSE, when the MD is in town.
2. Q&A webinars again hosted by Donald.
3. Webinars hosted by the team at Sunday Roast.
4. Webinar Q&A hosted by Liam at aim on air
5. Proactive interviews with the team in London or Sydney.
Plus a few other ad hoc chats.
So if Solgold don’t know how to do it, they haven’t been trying too hard!
Golddigit. I refer you to my yesterday post, stating that I couldn't believe how fantasists on this board hang on to every word other fantasists make.
Dg1 invester, a retail shareholder, did not, and never will have a zoom meeting with a very busy Scott Caldwell. Even more ridiculous is his claim he kept reschuling because of his own commitments. But even more incredulous, the rest of the day was spent by a few sad individuals discussing his attention seeking claim. Now I really must depart this crazy world you live in, before I go insane