Member Info for DG1Investor

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

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

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

Didn’t mean to sound patronising - enjoy your wine needalife and all the best

I understand your point Needalife - your viewing at as a form of crusade fighting back against where you feel you have been slighted or done wrong. That’s fair enough and I certainly sense your frustration and from that why you challenge every positive with an opposing view.

My own opinion in terms of getting into the mud slinging poster v poster is that it’s just fruitless mate - it’s a rabbit hole which will be unlikely to bring much satisfaction as it goes round and round - honestly and sincerely I just don’t believe it’ll bring resolve nor is great use of your time for your own well being ……however if you derive some fun from it then I get it - everyone gets their kicks in different ways - one man’s water is another man’s wine so to say

As for SOLG my opinion is that it’s been a tiresome journey - I do believe errors have been made from mgt and if they had their time over maybe a different path would have been chosen. I’m obviously not privy to all that has gone on and as such I can’t really lay direct blame on anyone but it’s clear to anyone who has followed the story that this is not where they envisaged us being all these yrs after discovery - (remember the 60p options ! Haha)

Moving forward I don’t believe it’s quite a dire as some of your posts might make one think and also not as pink and rosey as others paint - the truth probably lays somewhere in between

It’s as good as mothballed is my honest opinion - cutting back with next to

Nothing going on in the field and likely very little going on in the SOLG boardroom - my hunch is it’s been like that for some time. The issue is when you strip away the hype and spin and bull ….it leaves very little in the way of things they can say or put out - they say it’s a conscious decision a new path to only report on actual facts rather than endless broken promises - my view is that they came to the end of the road with the deceit of working hard

That said I do very much believe Maxit and Citi are working hard (this is what is affording the rest of SOLG mgt to hide away in the shadows) - I do believe that interested parties are indeed undertaking due-diligence - who knows what this will yield.

I’ve long held the view that Mather thinks it’s worth loads but he’s dilusional - right market - right time - right macro - right jurisdiction he’s probably right. However I reckon Maxit Bob Caldwell Irwin etc would all be over the moon to get out around 40-50p …..they might get it - but if not then can they convince Mather to walk at say 30-35p …….maybe this is what the Chinese are waiting on

All the best and honestly get out and about and don’t be dragged down by these bulletin boards

Needalife - you do post a lot. Of course that’s entirely your perogative and you can do what ever you like. I was pondering though - for one who is clearly so downbeat and negative on the company why spend quite as much time as you do posting, sometimes 5 or 6 times again - it’s a genuine question

I do actually think you raise some interesting points and I’m also pretty down on the company myself at the moment but I just don’t get the value in the constant messaging

I’m all for a balanced board, differing opinions and I certainly don’t sit in the all is rosey camp - far from it.

Maybe if you’re hurting and underwater email Scott Caldwell - scaldwell@solg.au.com (I think it is) or maybe Mather - must be a way to get to him. It strikes me they don’t have too much else going on so should be able to respond - I think Caldwell is meant to be heading up IR

Im not in the camp that Cascabel will be taken off SOLG and given away by any new govt to a major on the cheap - that would surely be future outside investment suicide

Timing of Lasso’s move was not ideal but we didn’t seem to be going anywhere fast anyway - I mean waiting for this exploitation license is not a new thing - Ecuador is a bit of a mess for sure right now but over the years it often is. New mines were permitted / constructed and produced under previous left wing govts so it’s not likely that the industry would just stop whomever gets in next.

It’s a challenging time for sure - maybe the politics will force our hand to accept a lower bid sooner or maybe there is no bid at all coming - none of it is terminal though

Anyway all the best

Yep it’s a truly disgraceful performance hey Novice

I wonder if they ever consider just how badly they have done in terms of sp performance over 5 yrs ! or just sit there rubbing their hands about all the lovely salaries they have received over the years

They really should hang their heads in shame as it’s woeful and must be highly embarrassing

They will forever point fingers at each other to lay blame and never bare or shoulder responsibility

Just down to the new team now to see what they can salvage

Looks like Bobs baseball hasn’t swung quite as fast as we’d have all hoped for. I have no idea what the hold up is and would only be guessing. Let’s hope it’s just a delay due to them maybe wanting more assurance from Ecuador govt - only my view but due-dil on the blockcave should be done by now as they would have done some of that prior to their investment surely !

Obviously they have to settle on a price that gets Mather and his old pals vote - as I’d expect any bid to be approved rather than speculative.

I’ve long since held the view that BHP have lost interest but hope to be proved wrong - could see them come in with a bid especially if Jiangxi open low, I’m praying there may be other interested parties but that would just be speculation

You mention no exodus of investors, it’s my belief a good few PI’s have moved on or at least significantly sold down. As for institutions BHP / Newcrest etc in fact anyone with large holdings would struggle to exit without crashing the price, and they can bide their time as it’s a drop in the ocean to most of them - BHP could write their entire investment off from just a few days company wide profits, of course none will want to do that but my point is it’s not such a big deal for them.

Jiangxi are in at 17p (from memory) so if we tumble from here it’s no big deal for them - they could just buy more to lower their average or offer a lower price in the future if things become desperate …..hence the need to lower costs to last longer maybe ?

Warren Irwin has mentioned that the Chinese buying assets in the west is becoming harder so hopefully grabbing an asset like Cascabel will be appealing and maybe give some impetus to get it done - however doesn’t look or feel like they are rushing right now

I’m sure as time ticks by and things become more strained that tensions here will become more tested, but with SOLG without much of a plan B, sale not happening as quickly as we hoped for and SOLG going down the minimal comms route - only news that has happened will be RNS’d and because I don’t think they are doing much there won’t be much happening to RNS all we are left with is the hope that Cascabel gets sold

Shame they created such a binary scenario - my hunch is they thought Bob would hit a home run rather swiftly - seems like the Jiangxi pitchers may have thrown a few swerve balls

Just have to hope that deal lands

Smickster - I hadn’t meant to call you Snicker that was an auto correct error - my apologies

Also I made no reference to your intelligence - I’m sure your a great guy why would I think any differently - i don’t know you

Earthling was invested - i have no idea if he is anymore - Bozi most certainly is invested - so unfortunately on this occasion I know for a fact your call/opinion is wrong - however I’m not here to argue that or correct - your opinion is your opinion

Your right though SOLG have left us guessing

I know why

Because they have decided from here on out only to report on things as they happen / they are trying to move away from broken promises

Problem is - it’s too late as very few trust them anymore and very few if any will want to be on a long term journey with them (Quady might though) so trying to regain credibility is a bit late in the day now

Solg are doing sod all drilling / continue sacking people / and have a plan to conserve cash to last longer / like us they are praying Bob Sangha can get us a deal

That’s it in a nut shell

Snicker - Bozi is invested here and has been for yrs and yrs - he’s as genuine as they come, intelligent thoughtful and well educated - just because he may point on some negatives or concerns or challenges some of the Rar Rar Rar we get on here doesn’t mean he isn’t genuine …..he’s also die hard Man U not Tottenham as I think you guessed at

And in addition there have been genuinely invested people on this board over the years - Earthling is one - derided by many but he was invested. As were others too who pointed out some of their concerns but were hit by barrages of knock backs - from all of us and me too …….maybe better we listen in future rather than jump to defend what has turned out to be a pretty poor all round company performance

How do I know they are genuine - cos I’ve spoken to them / had zoom calls and even met with some of them face to face

Let’s all not be so quick to judge anyone on here - as differing opinions make the world go round

In the best possible taste - ‘at least they are all getting old’

As are a good few of us here too with our never ending wait

Cauldwell must be getting near to 70 now - mid 60’s easily - apparently a wealthy man who has bought 20m shares and has 30m more given to him (options based on SP) …he’s surely not gonna want to spend the last of his days sacking 20 something Ecuadorians - and pretending to feign interest in rock samples …granted maybe he’s escaping the wife for a bit but one would think he’d want to cash in sooner rather than later to spend some of his millions on luxury rather than holed up in Ecuador

Same for Mather although he’s a tad younger - do they really want to start exploration again - it’s taken 7 yrs for us to get to a poorly received PFS …..if that was repeated on another find most of our board will be in care homes by the time of the next PFS dribbling down their shirts and waving their ‘SOLG is very undervalued’ flags’

Make no mistake we are up for sale - when Maxit / Sangha etc we’re all buying more shares last year do you think they were buying them as a long term investment - not a chance - remember they hate Mather and just want out of this share like many others - but they sniffed an opportunity - SOLG was going nowhere under Cuzzubo really feel sorry for that chap well out of his depth

They brokered the merger so they could sell Cascabel and get an exit - they are still trying to sell it - maybe the sticking point is price maybe it’s extra due-dil being a block cave , maybe it’s needing more political assurance ….none of us know

My bet is the deal was let’s sell Cascabel and Nick you can keep on plodding with other tennaments if you fancy it - but we want our money out to invest elsewhere……(but like me and most I’d assume)

So thankfully they are all getting older now and just maybe the charade can soon end - I’d take 40p and run to the hills to escape the solgold broken promises the missed timescales - the dilution the endless rotation of Mgt - the lack of progress - the lies (French translation) - the disappointment - the wasted money and utter mistrust I have in the whole damn lot of them.

There is no end to this Strategic Review - no revealing report will come out - no future plan - it’s just a review of what can they sell and to who and for how much

As others have said it’s glory or bust now - well bust will be sitting here in yrs and yrs to come praying for salvation

Bubble forget £1.32 mate

These guys will be buying yachts and spraying champagne at 60p with their options and shareholdings - luckily for me they want out just as much as I do

Only question is how do they get Jiangxi to bid

Jiangxi are no fools

Quady - I really don’t want ant to argue

Personally and it’s just my opinion - I doubt he’s as ****** as he might have come across - maybe some of the back and forth was meant to rile

Don’t know about your ex- wife stuff - but appreciate that may have been a sensitive point

The CO2 stuff we’ll we all have our own opinions

What I’m trying to get across and maybe not very well - is that an open chat room is exactly that ‘it’s open’ …there will be ****** / bigots / extreme politics / hugely differing opinions / good - bad people / right or wrong (in our own independent views) …..but surely ‘within the chat room’ none of that matters - if we disagree / take umbrage / feel insulted / feel enraged even - we just mute those and move on

We take the knowledge we can - yours / mine / slugs / all of the good posters and indeed sometimes bad and we make our judgement from that …..

Over the yrs it’s been a real shame to see it degenerate - your clearly a clever chap & (although you won’t agree) so is he !!

You take the best from each other and ignore the worst !

Anyway - roll on the sale / bid / update / time is running short - if I’m growing old so please let’s have a pay day and all f### off into the sunset

Sad to say it DBW - but we are mere minions they don’t give a flying ….about us - never have and never will

I was told a long time ago that NM was a huge BS merchant - out for himself and no one else with many a tale provided about the antics along the way - the choose to think differently - to think he was aligned to myself as an investor (true in part I guess) but I haven’t had the salary / bonus / shares given like he has over the 8 yrs I’ve sat here

We have to chose carefully in life on who to trust - who enriches us with knowledge, compassion and understanding …..and of course brings us good wealth

Jury is still firmly out here

It’ll be over soon I’m pretty sure as long as the Chinese don’t come across any show stoppers during their due dill ……let’s hope the end is nigh hey - we all get to exit with a return and live to recite the SOLG journey many of us wish we had never travelled !

ATB chaps

Hope they do create competitive tension DBW - what they are creating right now is a snooze fest

Thought we might have heard something by now - anything really - but the disappointing SOLG comms never really fails to disappoint ! Where is our old mate Fawzi when we need him ….probably chilling on a beach somewhere now as long as he negotiated a nice compromise (keep your gob shut exit)

H1 for the sale is my bet - complete this block cave due-dil and bang in a 50p bid ……then we wait or walk (just my guess - nothing more nothing less)

All the best chaps

21 Days Fortissimo - thankyou I think that was the answer I was looking for.

also I know there will be performance criteria that needs to be met for the options to vest - however I'm quite sure there will be a caveat in that if there is any corporate action then all optrions will immediately be deemed as fully vested

Indeed addicknt the broader market is likely to be the biggest factor - I did caveat my post with 'contributory'

I'd like to know if there is a timescale between getting options awarded and then them going on to vest in their entirety. I guess the work around is that Scott can say negotations are ongoing as we have all been informed of the various elements of the Strategic Review - so the discussion element is in the public domain and as such wouldnt then prohibit the award of the options.

I mean - hypothetically say they received a 'formal' bid for the company say in two weeks time - would that be ok in terms of the options as long as Scott didnt know it was coming ? ie he would just say - yes Mr regulator we were in discussion but no bid had actually formally hit my desk/inbox so it caught me quite be suprise, which was lucky for me as I've just agreed a 30m option package......would that be ok ?

I really dont mean to sound sarcastic - i really dont know the rules and would love to know for sure what the rules are

surely Caldwells options are a contributory factor to the drop. 30m options may indicate no immediate bid - needs a little bit of distance between the dip into the cookie jar and getting paid out - just to keep the right side of the regulations. Thats why I'd rather everyone else who is going to be getting options or enhanced incentive plans hurry's up about it.

Let them load up for their help themselves payday and then finally with every passing day we can progress closer to the main event.

Thats the main cause of the probelm of this weeks slap in the face RNS - however I guess for them as they know what is likley coming they couldnt give a hoot about the current price. Must be lovely to load up for free without a care in the world.

Hopefully next week we hear more about the criteria for the options to vest, get the enhanced employee incentive scheme sorted, sack any remaining stragglers and then finally something for the little man may present itself.

Have a good weekend chaps

Sharket - i do think WI’s tweet is more born from his own frustrations with Solg since his exit in 2017 and the lack of progress and mismanagement, rather than an indication of what price he thinks it’ll be sold at now

Many would agree that taking the lot at 40p+ 6 yrs ago would have been better than going through the last six yrs only to finally exit at 40-50-60p etc now

Lost opportunity to reallocate those funds - cost opportunity loss

Let’s hope this will be over soon

Been a very long and hugely disappointing journey

Massive value destruction over the years - company has returned zero shareholder value since the rally to 40p+ all those years ago …so many broken deadlines, so much waffle, such poor mgt

Personally and it’s only my opinion, I really couldn’t care less about SC’s 30m options - I’m more interested in the the performance criteria and vesting periods attached to the options and why do we have to wait for these details …..more smoke and mirrors - just be honest with us

I couldn’t care less about a new incentive scheme for anyone left in the company - just get on with it

I couldn’t even care less if they all issue another set of options to each other all back slapping and talking up how well they have all done - just get on with it !

SC has given a reasonable presentation (better than BHP Cuzzubo could do) he’s sacked Fawzi and a couple of others and closed down a couple of regus offices - so 30m options sounds about right in these inflationary times

All I care about now is getting this company sold - Bobs had 5 mths at it now or maybe longer - how much due-dil is needed, I really don’t know the answer to this but would seem reasonable to me that we must be close. In my opinion Jiangxi are not gonna be the stalking horse - they will need to offer a bid that already has board approval - no low bid as it doesn’t look like anyone else interested (although I concede that could change)

So NM if your looking in - line up your options / incentives / bonuses / dish out the same to anyone else who has been about for 5 mins (mths) who is critical to getting a bid / get your wife’s, girlfriends, family to load up at these pathetic prices and for the love of god get this company sold

Most of us have had enough - most of us will be pleased to never hear Solg whispered again and most of us would like to move on and only occasionally reflect back on how badly a business can be run and to look back on our learnings to hope we don’t ever stumble across a company like this again