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Investors should read their full report as more detail in there too. Very bullish.

The ExploreCo is very much on. Infact if this bid hadn't arrived, we might have heard some of the finer details on it this month.

Considering the Chinese bid is so low, and the markets have priced the regional folio at zero... they won't mind if we keep that will they lol!

"Between 2026 and 2029, Glencore expects copper-equivalent output to grow at a compound rate of 4% annually, with copper alone projected to expand at a much faster 9.4% over the same period."

Https://uk.advfn.com/market-news/article/8893/glencore-sets-out-long-term-copper-expansion-plan-confirms-alumbrera-restart

We know Trump stomped off to Australia to do some kind of precious metal deal although details seem a bit unclear on what was agreed. However, I highly suspect he was keen on seeing BHP or any other Aussie miner leading the way when it comes to major mining acquisitions.

It's not as if BHP require much of an incentive to snaffle the most lucrative mining folio in Ecuador... but by doing so, they might just bag some brownie points for their Aussie PM which can come in useful further down the line.

There's a war out there right now and it involved precious metals. The race is on. China V USA... and lets face it... USA vs the world. Even Europe brought out a recent proposal to make Precious metals a strategic priority.

Look at the bigger picture and see how many Tier1 100% owned copper/gold mines are out there that seemingly appear to be wrapped up with a big bow on them awaiting a new home.

Hopefully we'll have a deal where we can sell ENSA only and keep the ExploreCo. So the next one comes from that. I'd be delighted to be an investor in the ExploreCo spin out and could see that starting at $150m mkt cap on IPO or listing and moving to $2bln + on a number of discoveries. Rinse and repeat. Why wouldn't you?? Just because the chinese have come in with a bid doesn't mean we should deviate from our main plan unless of course they stump up something that we can't refuse. On that basis... I think most would kiss good bye to LSE for sure and go and look at something on TSX or ASX where miners are appreciated properly.

Addicknt, the chinese are short of a penny! On top of this, they've been gifted a golden start with 12.2% of the company for virtually nothing... dinner money stuff.

So they only have to bid on 88%. In the past, when a holder has been given a cheap entry it usually designed so that they can actually offer MORE when it comes to a bid process. See how that works??

So 55p for BHP is a damn sight more to acquire to them than 55p is for jiangxi. Can can top that 55p bid (if it came) by 10% or more and still be paying less than BHP.

That's my understanding of WHY they were gifted the CGP shares at 9p. That and it created 3 main holders all in and around the 10% mark.

My guess is that they bid around 36p level next and folk like Addicknt will think that's a great leap from 26p... etc etc as will some other investors.

Then I suspect you get our board saying that they want to extend the deadline of Dec 27th or 28th as think it worth discussing more etc etc blah blah blah.

Then you get updated PFS numbers, more TAM assays and the CIPA drops as a defence.

Then you get Jiagnxi coming back after apparently being so impressed with all those numbers and CIPA and they offer 42p or something like that.

Then you get Jiangxi saying thay have 25%+ of pledged holdings blah blah blah.

Then after a week or two you get BHP or another stove in with an offer 50p. The rest you can envisage from there.

Guess work of course! But this is a company with Porvenir, Cascabel, TAM and 60 other licence blocks. Anything under $3bln is a bargain. An absolute steel!

Addicknt, Jiagnxi might just be testing the water and the process gives them an op to talk directly to Newmont which as we are led to believe are the potential weak link.

I wouldn't focus on the 26p early bid very much and use that as a basis for anything. The market is ignoring that as are likes of L&G.

However that said, Jiagnxi have already achieved their desired goal with you. You are a prime example of WHY they made that 26p bid. They've led you to believe that they won't bid much higher... erm... like they can't afford it lol!

The point is... if the next offer comes in at say 36p... well. doesn't look like they've really pushed themselves to go so much higher. Aren't we lucky! And then if final offer comes in at say 45p... well. lets take it as they've made such an effort to go from 26p to 45p... and clearly don't want to go higher. See how that story conditions your thinking ... see how you've been set up from the start??

Sometimes, it's all about managing expectations and that 26p offer certainly makes you think... 60p is out of the question. Of course that's nonsense and the amount bid needs to reflect the asset and it's worth less some discount for some unknowns/risks.

Unless jiagnxi are out to make a fool of themselves, I think you'll find there's more to come and likely from someone you haven't heard of yet.

Those royalty 50% buyback deadlines haven't gone away and are approaching fast especially when you account for the 6 months + of due diligence before final completion on any sale.

Another 980k at 29.8p

Go go go L&G.

I don't think BHP average is 26p. They bought a 3rd of their shares at 45p. The other 2/3rds came at around 25p/26p level I believe.

NMM, if the bid phase fails, they are going to need a new COO anyway. G-mining are doing all what's needed.

If Scott got booted, you wouldn't notice a thing.

SOLG would need to staff up if they go down the early phase development.

I'll be voting against Scott and Liu. Can never forgive Scott for what he delivered over his time at SOLG and the fact that he got loads of bonus shares. Absolute shocker. Anyone that sayd he'd take 23p needs showing the door pronto. He's a xxcking liability.

Maxit were at 5.11% so no change there.

They all seem a bit slow on delivering their TR1's don't they! Come on Mather... lets see yours.

$5.30 now. Could see that test $5.60 next. Some forecasters suggesting copper could see $14000/mt next year.

JPM have $12500/mt for H2 2026.

https://www.jpmorgan.com/insights/global-research/commodities/copper-outlook

Hopefully a few more TR1's will be along soon... might be some new ones in there that get a few folk excited. Would be nice to see Blackrock as they nearly always enter the fray when they smell blood or bid/upside.

L&G were quite aggressive yesterday adding 1m+ shares. They have the fire power to build quickly subject to available stock and if stock runs out then yes... the mm's take it higher to gather some sellers. They might need to nudge it into the 32p/33p region to get the volume of sells required to match some incoming heavyweight buyers. That's the game.

Ironically it was our US market buyers that made the stock finish strongly on last few days. Seems that after 2.30pm market open, more buyers emerge. Surely they are not Trumps Army trying to take it away from the chinese lol!

Yep, it's usually the fat greedy management that fold when offered a big pay day or exit. 'People' are always the weakeness and always targeted first. You can't target mother nature or the resources as they speak for themselves.

Part of me wants SOLG to go it alone. I want them to do an open pit low hanging fruit production mine on TAM. I want them to do the same on Porvenir. Just those two assets could throw off serious profits. Then further down the line... look at doing a JV on the block cave aspect of Cascabel once we've skimmed off the nice and easy stuff (sub level plan). Meanwhile, use some cash to explore the 60 odd licences... discovery the early stages of more Tier1 mines... there might be 3 of them or 5 of them or none of them. What price would we be then??

I reckon the above would take about 2 to 3 years and yes there would be some dilution but not much imho.

Trouble is.... we've signed a deal with Franco/Osisko that is based on a different plan... and to get the third tranche we need to follow that plan. That said... I reckon Franco would be open to some tweaks as we move forwards.

Bottom line... it's always about 'time' and I think we have some investors in Sangha, Irwin and others that want to exit. It's that impatience that will likely hand the top paragraph to the chinese or a super major. They'll do it differently but lets get real here... Porvenir and TAM are likely worth £1.5bln by themselves.

The only light at end of tunnel would be if we can spin out the ExploreCo and sell off just ENSA... then we get best of both worlds. That's what I want most.

We are in the sweet spot right now... the spot where you want to stick your house on the market and get top notch prices...

1. All time high metal prices and going higher in future (according to well respected forecasters eg copper shortage looming)

2. Super majors awash with cash. They have so much cash that shareholders want to see it deployed in high growth projects for next phase

3. Post covid most super majors pulled back on development projects due to high inflation etc... now they are under resourced and projects are going to be years down the line before they start producing. They've lost time.

4. Global war on precious metals... that places pressure on PRC is particular to move fast

5. Investment market/ bankable loans etc all have appetite due to higher metal pricing/green drive

6. Tier1 mines in South America that are 100% owned and ready to progress to production in 2 years+ very rare. In fact... Tier1 mines 100% owned are the most rare. Most are co owned or JV'd.

7. SOLG's regional folio offers Porvenir and 60 odd other licence blocks presenting a huge regional opportunity for a large player that could sort them out for 50 years+

8. Ecuador as a region looks more open to business under Noboa who has 3 years left in power.

In summary, we have cash rich hungry Super majors and PRC all wanting resources. We are in th best shape we've been in since the company started. We are in an excellent position.

Pbow, I think the question you should be asking is this one.... Show me a Tier1 mine 100% owned that is in a non majors hands that hasn't ended up in a super majors hands or PRC etc.

Then follow that one with ... show me a management team that have had a tasty bid put in front of them that makes them mega rich that have turned it down lol!

The rest is irrelevant really.

Ivanhoe is the one you need to look at. That's the story that says it can be done.

Different time now Pbow. Give me a an example of a metal prices where they are right now over the last 20 years? An example of where copper prices are going to be?

Your missing the point... the investment case has changed... the world goes through cycles and we are in a phase now of a metal/precious resources War across the globe.