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Points taken guys, but remember that Newcrest had a rep on the BOD which didn't pan out to mean anything regarding a bid etc. So, I wouldn't read too much into the ex Jiangxi man being hired. Time will tell.

Fort, there is one thing I don't follow: We all believe this will go to the Chinese. We know that the Chinese are not bothered by jurisdictional challenges. So, why haven't they made their move on solg already, or buy more shares given the SP? Being a muppet, I am struggling to figure out why the Chinese haven't moved yet.

10m can only last for so long. Company must report new source of funding imminently!

Guys, I was puzzled how someone could call others a simpleton for making a prediction when he himself was also making a prediction that solg would not be sold without providing a thread of factual evidence to back up his assertion.

Only those at solg behind closed doors knows exactly what is going on. The rest of us are guessing based on our respective extrapolation of what we each think might happen.

For my part, this is my first investment in a company on the verge of either being sold or going to production. Hence, I have no previous examples to guide me as to what to expect. Surely veteran investors would have been through this process before and would have a better idea what to expect?

I expected enlightening comments rather than gloating about who is right and who is under water.

I agree, the assets are compelling and they are what I based my decision on when I invested. They exist, unlike other companies who have yet to find the mother lode.

Surely Stack even you cannot rule out an unexpected bid from say the Arabs? You are guessing like the rest of us because you have no more insight into what's going on behind closed doors at solg than we do. Hence, I cannot see how you can speak so categorically against the company being sold when you cannot predict the random nature of unpredictability.

My point is, out of the blue, a bid could land from a buyer with deep pockets who doesn't care about bureaucracy and red tape.

Not sure if this was already posted:

"SolGold will construct hydroelectricity to boost Cascabel mining project

June 14, 2024 Published by: Milo Cuenca 0 Comments

On Monday, June 10, 2024, the Ministry of Energy and SolGold signed an exploitation contract for the Cascabel mining project, which will produce gold, silver and copper. SolGold announced an initial investment of 1,550 million dollars, highlighting the construction of a hydroelectric key for the project.

Luis Mario Sánchez, vice president of SolGold Ecuador, revealed that he hopes to start the construction of Cascabel between the beginning and the middle of 2026, once the environmental licenses are obtained. The production of minerals will begin in the middle of 2030, but a fundamental aspect of the project is the construction of a hydroelectric plant in Imbabura, which will provide self-sufficient energy.

The hidroelectric, with a capacity of 220 megawatts, will cover the 180 megawatts necessary for the mining operation. The construction of this plant is crucial and must be listed before the start of mine operations. SolGold has signed a preliminary agreement with the constructor Semaica, with an estimated investment of 500 million dollars for this work.

During the construction of the project, approximately 3,700 direct and indirect jobs will be created and 1,200 during operation. In addition to the hydroelectric plant, a processing plant will be constructed to convert the rock material into a concentrate of copper, gold and silver, which will initially be exported by land from the port of Esmeraldas.

The Ecuadorian State will receive approximately 6,700 million dollars in royalties and taxes during the next 28 years, including 1,600 million in royalties. SolGold will pay 75 million dollars in advance royalties from 2026. The reserves of the Cascabel project include 3.2 million tons of copper, 9.4 million ounces of gold and 28 million ounces of silver for the first 28 years."

Cheers DBW. As much as I am fatigued with this share, the Exploitation is a milestone, and the government support is admirable. So, I will just have to wait patiently.

Thanks for the feedback DBW. What about the environmental EIA? I thought that was critical?

He could have deferred answering the question, or state that he would accept a value which is commensurate with the value of the asset.

He bragged about how much gold and copper we have, invited folks to do the maths, and then he goes on to say he would accept 30c!!

The man isn't ceo material.

CMG, after you kept forcing Scott's interview on us, I watched it again and it's clear that we haven't received a bid. Consequently, he is attempting to derisk Cascabel to make it more attractive. Hence, I think that we are here for the long haul. 18 months to get all the permits goes against Warren Irwin's assertion that we will be sold within a year. So, I no longer have any expectations of a corporate event taking place anytime soon. He will have to find more cash because 10m will only go so far. I also have it reconfirmed that he is inept when told the world that he would accept U$0.30. I don't see how that adds shareholders value? Back to the bottom draw with my shares!

CMG, there is no doubt that this will be sold. The question must be whether any of us will be alive to witness the sale? Given his age, one would have thought that our inept ceo would want this sold ASAP.

Why keep putting up the link to that infamous 30c 2 months old interview? I don't need reminding that our inept, buffoon of a ceo would accept 30c!!

Did someone receive confirmation from the company that all shall become apparent very soon, or is that just more wishful thinking?

Here we are, middle of June, and we are none the wiser what actually going to happen. One minute we are not mine builders, next it would appear that We are going to build a mine! We are having financial discussions but we can't say with whom. We refuse to divulge who lent us 10M, and a raise may well be on the cards. The swill in the trough will need topping up!

Let's not forget the never-ending SR! Funding will be required to keep that going longer😔

I am not sure that they will rns that they have started to access the 10M Quady. I guess that we will have to wait until the next account statement. Then there is the interest which they will need to pay.....why am I feeling that a raise is in the cards?

I think that you are being a tad presumptuous there Add! Until we know more about the funding strategy once the 10M is consumed, receive the EIA, and be certain that we are not looking of several more years of raises, then we should assume nothing where Scott is concerned. I hope that you and other posters are right that something will happen soon that will provide the opportunity for an exit, or is it Solgxit?😆

...of this?

Dodgy website on a mobile!

Add, at this point I am grateful that Scott wasn't afforded the opportunity to bang on about The Rocks!!

I was thinking only this morning that Add better start preparing his list of reasons why we should vote for Scott at the 2024 agm. Lo and behold, we are now reading that he is planning to keep his snout in the trough for several more years yet!!

Oh the humanity!! Can we endure more years if this?

And yet we still don't know who lent us 10m!!!

So much for communicating with shareholders. I suppose if the aim is to keep us guessing, then they are doing an excellent job👏

For once I share Covgaz's sentiments on this share. It's always 1 step forward, 20 step backwards. We are kept on the dark and the promise to keep shareholders informed has become a forgotten promise.

HfH, what about the Environmental EIA which some posters believe is a prerequisite for financing Cascabel?

It certainly sounds as if we are hell bent on becoming mine builders!