Member Info for Bozi

Swest - please don't temper your exuberance. We're all really enthusiastic about what a super project Ewoyaa is going to be.

It's just a tempering of expectations from the studies.

You'll have to excuse me - this might not be completely right - but one of the brokers, possibly Liberum, projected a TP of 396p based on a spot from a recent auction.

Those are the resources we should be sharing and drawing new investor attention to. The upside here is enormous, as we know.

Swest - you have to remember the PFS isn't a method to promote the company. It's a technical study.

The aim therefore, has to be to show the robustness of the project using the most prudent or Conservative assumptions we can.

And the ALL PFS hits the spot.

We know what an average spot price of 2000-2500 does to the economics and we know what an offtake auction at 7000 does as well (blows our bloody heads off) but the PFS and DFS are there to say to anyone interested in financing the project or taking the product - this is a project that can operate profitably in the severest bear market".

We can look to broker notes for commentary and analysis on what higher spots do to our production investment case.

IMO.

Quady - why would we consolidate 100% ownership of Cascabel by bringing Cornerstone into the fold only to then JV it?

Makes zero sense. It's tantamount to giving CGP a nice payday at our expense and no other reason.

For me, a JV is less likely than it ever was, and it was never likely anyway!

I don't really agree that Len got the ASX pricing wrong. You've got to remember that the aim is to get some aussie retail investors involved at a decent entry and if you price the float at 45/50p or even more then there's a chance that it falls flat on its face. The price in London was settling back anyway and unfortunate the listing didn't coincide with the spurts that the aussie market sometimes sees with its band of lithium hopefuls.

Shares move up and they move down. We had the burn up in Q1 and you have to admit that the shares got a bit ahead of themselves. Now we're in the consolidation phase, the opportunity to consider adding to positions, etc.

At the end of the day, we should remain fairly resilient with a decent treasury and we have MIIF interested. I wouldn't be surprised to see us trade within a range as they come on board and we get some more drill results before we take off again when a) general market conditions improve, b) we are ready to publish our next resource update and c) we are releasing the DFS. Three things that can conspire to push ALL back to the highs and potentially further, especially if the application lodged today comes through at around the same time.

No shortage of catalysts here. Be aware of getting too cute and having it bite you on the.....

Thanks StukeyBlue.

I must admit I'm not sure if we're talking about the same thing or if you're coming at this from another angle.

Agree nothing is guaranteed, but it sounds quite likely from what Darryl said that they will sell the stock, and that SOLG can call the funds if necessary (this would appear to be a given).

Lets see what comes about.

StukeyBlue- the more cash we can give them the fewer new SOLG shares will need to be printed, so it benefits us as SOLG shareholders.

Also, CGP have a holding of SOLG stock that can essentially be placed with new investors. It's basically a placing of existing shares. CGP receives the cash proceeds and loans them to SOLG.

SOLG would therefore have enough cash to settle CGP holders 20% cash 80% SOLG stock. However, SOLG won't want to do this if other funding avenues that are going to push the company on in 2023 don't yield something fruitful. In such a case CGP will get all stock amd SOLG will still take the proceeds of the placing for working capital.

So it boils down to can SOLG get a better deal for a sufficient level of finance for 2023 elsewhere. If they can, CGP will get cash. Of they can't, they won't.

Without checking I'm pretty sure it's Porvenir that's nearest Lundin's ground. Once we get a PEA on that i think it's far to move it up the value curve.

I was just saying on the point generally. It was something i picked up from listening to yesterday's call this morning and whilst I'm favour of slimming down our portfolio, I've had to take the view that there's nothing to be gained until we can at least put some JORC figures on the licence in question.

Thst said though, if Cascabel is worth 78p to SOLG shareholders (and potentislly a little more besides) is it unrealistic to think Porvenir might be worth 22p to SOLG shareholders?

Just on the off-chance someone wants to star the bidding off at a quid...

Which other prospects, StukeyBlue?

Porvenir aside, i can't agree. Projects can't be valued until there's a resource estimate and better still, an economic study. It's impossible to value an asset without knowing how much metal could be in situ and how profitable it would be to extract.

So, aside from Porvenir, everything else carries a nominal value. That's why it is so important to continue regional drilling. It's the best value add.

This was reiterated by Darryl yesterday.

Market wanted company to basically say "bring on the bidding war" and anything else treated as sub-par.

That's by-product of doing things in the order they have into a particulsrly weak market. It means when the company then starts waving it's arms around investors just aren't interested.

It's the same reason the strategic review announcment was sold off.

Thanks SM. Just catching up.

Would you like to explain why Redknight?

Yes 9billion.

We've done that on half a dozen occasions over the past 3 or 4 years. It's important to let investors know where the company is speaking so we can keep up with media.

Redknight - can you elaborate? I'm not seeing the relevance in that statement. All it's saying is that if we settle 20% in cash then all shareholders will receive that cash, not just certain ones, and that the number of SOLG shares being issued would be reduced accordingly.

There's nothing in there about that being funded from existing resources.

If you calculate the implied CGP valuation from the SolGold offer then you'll return to your a original assertion, which was correct.

Arok1975

You cant be fearful of a production story here because of what has happened at Solgold.

Solgold is a completely different species in terms of project characteristics and the corporate circumstances.

ALL by comparison has a mega profitable mine at a conservative SC6% price. 5 months payback based on those economics, a very low opex number and a very simple process flowsheet.

It really doesn't get any better, particularly ehen you consider the exploration upside.

In my view ALL is not one to sell off cheap. Cutting and running makes virtually no sense.

Come on Orthern. I think we can give them a bit more credit than that!

Your 5 questions all very reasonable by the way but all material info and would need to be released by RNS first I suspect.

Here we go folks,

You watch KAV take on a completely new meaning if we make a discovery on KCB. The whole dynamic will change, even over at the KSZ where the wildcat nature of our exploration there will be backed by the security provided by the more conventional KCB.

Hopeful.

The macro is what is is and i can't fsult anyone who wants to protect capital too much. However, when you're out you're out and a weakened macro picture doesn't necessarily mean that every stock will tank.

If anyone wants a reminder of why we're all interested in this company then today's video from Len should help with that. It's a good update that incorporates exploration with the planned DMS process and extremely robust economics. Those factors alone give reason to believe Atlantix could be one to better weather any potential downturn.

https://youtu.be/01TuK2QfqLo

Bm3121uk

Tell us again exactly which crime Nick Mather committed against your family?

Your view on him is rather extreme. It doesn't take into account that buying junior resource companies is all about finding needles in haystacks and unfortunately the vast majority of them will lead to poor returns. That isn't specific to Mather. That's the whole of market.

Your aim as an investor is to get in low and get out high. Its as simple as that. If you can't do it there's no point blaming anyone else but yourself. There have been numerous opportunities for good gains at SolGold and Nick's other interests. You've just got to be careful with the oilers that you're not holding a full position into a drill result on a wildcat exploration well. A duster will never end well.

It's going to be interesting to see what happens here over the coming months. We're one happy family now and we're marching on to the PFS and PEA at Porvenir. A little £500-700m NPV there would certainly be very nice for starters.

Big vote of confidence from the market at a time where competition for new capital is fierce and general appetite rom investors is strained.

We have raised virtually our whole market cap (as at 3 October when the SP was 12p).

Company has about 12 months runway now to score the home run with EpiSwitch CiRT. I'm pretty confident they will and i suspect it might not be long before we hear more about the recent conference and any business secured from that.

This could be a real flyer in what are testing times in general.

They'd be on a very short list CovGaz but you've got to consider the political narrative. Does Ecuador want the big business of it's next generation going into Chinese hands given the strength of it's economy and obligations to the IMF?

I suspect there's a reason Valuestone were kept to the single subscription.

China is also fighting it's own battle over rare earths. Not one for me to expand on here but if you have a read of what's going on in Myanmar and the emergence of Western alternatives you'll see how the West is starting to stand on it's own two feet.