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Why on earth would we let BHP have a look in on our regionals?? They've been nothing but a 'pain' in the @rse. Trying to destabilise the board... trying to get cheap equity raises... the list goes on.

There's not a cat in hells chance that Bob and his buddlies are going to let BHP get a look in on the regionals.

Open the doors to super majors that are interested... Barrick, Anglo, Rio and so on. But leave BHP to battle it out over licence blocks that are non existent.

Let the chinese have a look in by all means. But lets not repeat failures of the past by getting the likes of BHP involved.

If they want in... they'll have to buy us out or buy in via open market. If it goes down the IPO route, SOLG should 'ban' BHP from participating.

Addicknt, does the AIPA work alongside the CIPA or does the AIPA 'amend' the previous IPA?

I guess the question is... what exactly has been 'amended'?

As per usual, SOLG seem to struggle with continuity when it comes to news.

I guess my question is... has the $3.2bln spend requirement been dropped? If so, what is the new spend requirement?

Well $4m+ went missing down back of the sofa.

Anyone ever find that small change?

"the team have been in situ for only two months "

You mean the chairman?

Dan the man CEO has been there since 2022. He's not new. Nor is the recent plans for regional spin offs. Nor Tandy appraisal. It's an old team, tail between legs now doing what they were told to do (BY MANY shareholders) as their previous plan resulted in Bob having to use an inflatable device on his floppy baseball bat which is curved and yellow by the way.

Addicknt, I know... and the scary thing is I am probably right.

We have a chinese investor who has different motives to other shareholders. They want the price down. And that's a major worry as I can't see our management team capable of getting US out of the hole they have actively placed us in. Why on earth would the chinese want to do anything to inflate the price in SOLG's share price?

We've literally placed everything in the hands of the chinese and that includes g-mining who are known to be actively involved with chinese firms.

Dan and new chairman flying off to China last week suggests more pandering. Excuse the pun.

It wasn't that long ago that our old chairman was telling BHP to behave as they were trying to destabilise the board to get the asset cheap. Now we have a destabilised and utterly incompetent board actively selling the asset cheap.

They've already given away over 5% for just $18m!

I think it's largely to do with SOLG management being quiet as a mouse for starters. Apart from that, the fact that Valuestone keep selling stock to Jiangxi, and Jiangxi then sell it back and so on and so and so etc makes the price / share price fairly unattractive as chinese effectively can take they price where ever they want... whenever they want.

The above is of course all supposition. But without major funds like Blackrock, Pru, Legal & General etc getting stuck in, there's really nothing for the chinese to worry about. They can do this for the next 12 months if they please as SOLG don't look like reporting any news soon that's going to change the dial. If Jiangxi and Valuestone want to exchange shares in the 4's or 3's... then what's to stop them? Best bit is... they are apparently advising SOLG on what to do next with the asset on a technical basis lol! You really couldn't make it up.

Isn't the MD&A out soon?

I suspect Dan might want to do the usual SOLG placating before that arrives as reckon the cash burn is gonna look ugly and prove that delays are indeed ... occuring.

So an update saying they have found a place for the tea rooms and bogs not likely to move the dial but an update that says they have found a suitable place that is not resource rich for the tailings would be the most important news we've had since the $750m package announced.

I think it's pretty obvious they need the decline sorted before they can really derisk the project. That's the problem with block cave... it takes a lot of capex just to derisk it...

Do we have a number on the decline cost?? I recall Darryl talking about this about 3 years ago and was sure he stated about $200m?

Pbow... how much do you think the decline will cost?

They've mentioned ASX. The fast track way to getting the exploration business underway would be to reverse it into DGR. Or... agree a merger of the ExploCo. Not sure how ASX listings work but imagine they are smart and tight with regs on trying to get swift listings done.

IMHO... all feels, smells like Bob and his buddies pleasing Mather in return for Mather agreeing to a low ball for ENSA.

This was my concern a while ago, but more recent events make it much more likely that any ExploCo biz will be RUN by Mather... eg a Part deux SOLG.

Would not be surprised to see the likes of Mather's old cronies reappear. Moller... and so on.

Lets just make sure this time that CGP boys do not end up with some direct interest in the Subsidery like the case with ENSA as that 15% has turned out to cost us very very very very dearly. To the tune of about 75% loss in the sp for starters.

AIM IPO's can be quick compared to other indexs. General timeline is circa 6 months inc propsectus. As PBow covered in his cut and paste, likely it will be ASX. I know it's easy to be cynical etc but if IPO on ASX then suits Mather more than anyone else and if they are out to please him, then it might be in exchange for him agreeing to a low ball offer eg ... he gains a cracking deal into the ExploCo (10%+) and then he goes again etc.

The irony is, there probably more money to be made by investing in the exploCo than SOLG. For instance, lets say 1 billion shares issued in ExploCo at circa 5p or 6p a share. SOLG shareholders get 40% stake/free ride on early exploration drills. Any successful strike/assays reported and you could see 25p to 30p+ pretty easily. That's a 5 bagger and market cap just £300m etc. Easy to see a pathway through to a 10 bagger or 15 bagger on numerous successful drills. That said, more dilution would be expected along the way.

This is WHY 'growth' and shareprice action mostly comes from EXPLORATION... and not development, DFS, PFS stages etc.

Anyway... they best get a jog on as the only way that regional folio looks attractive is if there are not other alternatives out there. And if the mining cadestre opens up again soon... then SOLG will lose that exclusivity that they current hold.

This is WHY these moves now look too late and management have failed shareholders and now look like they are scrambling around to line their pockets on a self created low share price and get some events lined up for the AGM in Dec or most are toast.

Hugely frustrating and $100m in capital pi55ed down the toilet by Bob, Scott, Dan and co. Utter shambles.

It's taken over 2 years for them to eventually pull their finger out and get the spin off sorted. IPO's take time, so it's still likely 4 months+ off possibe longer as prospectus going to take while. The big question is 'where are they going to list it'?

I see SOLG's head office is Australia. I wonder whether they'll go for a float on ASX? Suits Mather and lets face it... the explo company is what he's been after for years. I see Tenstar share reduction confirmed at last... I wonder if they've released some cash so they can partake in the ExploCo float? Certainly insightful from them if that's the case cough cough.

If only they had listened and done this 2 years ago? Where would we be now with metal market boom underway. Could have had 3 tier 1 mines (potentially) under the belt.

Max...who is benefiting from it?????

Erm.. just watch... who do you think? Lets say SOLG do a placing at 6p for 500m shares. They raise £30m. They give chinese 300m shares. They move to 22% so are well happy and supportive. And then ... yes you guessed it... management, Mather, Bob and his crew all mop up the 200m shares left and safely cover their dilution. Infact, better than that... they likely stand to gain more from a sale at 25p thereafter than a sale at 50p prior. I think it's called doubling down.

Just guesses of course, but if Bob failed to get sale away at price he wanted, then obvious move for him would be to buy more shares (but very cheap) and then push a lower offer through. It also carries voting power and secures the insiders.

All supposition... so above is worse case scenario. But lets face it, they told us they wouldn't dilute and hence were going the Franco route. But now with a self controlled low sp... other options open up to them. If the sp was 22p... it wouldn't be possible. But at 7p... suddenly for likes of Bob he has a nice 'reset' to play with.

Magoo79, that might be the case. But my spider senses and the clear manipulation on the sp of late suggests that 'alternatives' are being explored. Remember... Osisko = chinese. So the only loose canon around here is Franco... and rightfully so... they have invested the most and I suspect will not be too happy with teh slow progress made by SOLG. And lets be clear here. The geo / tailings works should have been wrapped up months ago. G-mining are just another chinese firm indirectly but from what I hear, they are a little more vocal and a weak link in the SOLG dynsasty.

Lets see what unfolds. Thanks for the update, much appreciated but it's 'what is NOT said' that often matters the most.

Have to agree there, the most important factor for the cpmpany near term is the securing of Franco funds adn to do this they need to conclude the tailings GEO works. The fact that the chairman is off to China but decided to side step or avoid being pressed on Franco would suggest to me that they are now seeking a different kind of deal... one that does not include Franco... or one that does but has some alterations or inclusion of a partner. Which incidentally fits perfect;y well with the recnet updates to the Franco documentation as per SEDA.

Looks to me like the failed to deliver on Franco requirements (probably due to Scott's ineptitude as well as Dan's, as he was involved too) and are now seking the chinese to get us out of a tricky hole... probably at a serious cost or equity dilution.

Anything like the above (and I hope I am wrong) and Dan needs to hand back his options and the chairman needs to do some soul finding as he approved them on his watch.

well one thing is sure. bob and his cgp buddies got a large stake in the merged solg business due largely to the 5%+ cgp holding that they carried. the value of that holding was pinned to 22p a share. in exchange for that 22p a share, he and others got solg shares. 1 billion ish in total.

to then sell those shares at almost a 3rd of the price is destruction of value and the loss is almost an entire years worth of working capital. in fact, it would have funded a pretty good exploration program to run aside the cascabel pfs reworking and who knows we could have 2 or 3 great prospects right now.

to mothball the company and then sell 5% of it for $18m was a shocker. plain and simple.

the cgp boys have been nothing but a disaster. a bunch of suits with no clue. and the worst bit... dan (the new ceo) is one of them... one of the same crew. he joined in 2022 and has been actively responsible for many of the decisions made. and now he wants a reset lol! what a reset so he can gift himself cheap options and then deliver more pi55 poor performances.

lets hope shareholders vote with some sense this time at the upcoming egm (if or when we get one through) or at the upcoming agm if they are still around.

bunch of useless ****s.

RodneyT, Franco funds are for ENSA. You know this. The cash raised via Jiangxi circa $18m was to pay for

1. Regional licence (About $6m per year or see them all relinquished)

2. Darryl's courtcase settlement estimated to be around $2m

3. Working capital of about $10m to get the company through to the next Franco payment

It's pi55 poor management to do this at a firesale price of 8.8p. But when dealing with pi55 poor management... what is expcected?

The best bit... Stackhouse got a bonus/option issue !! Oh the irony... where was he when the sp was 13p+?? Was he seeking a a raise via the CGP shares then? No... I very much doubt it. Considering the $5m or $6m licence renewal was known well over a year ago... why didn't they plan ahead?

Stackhouse should be getting the chop... not getting rewarded!

Well that's the minimum deadline for the MD&A. There's no reason why they can't issue the MD&A's earlier considering it dates back to the previous quarter.

With each MD&A... we get updates as a forced requirement on management by TSX yet the news is mostly 2 to 3 months old.

Very poor stuff from SOLG.

I'm trying to get Norges involved at the moment as know they are unhappy too. Need a sizable shareholder to get involved especially if seeking EGM's.

We need an EGM imho as we had no say in Dan's appointment (he's not NEW) and no say in the CGP shares issued to the chinese. And we've had no updates at all for months.

It's our company... not yours Bob... so time someone started turning the screw on you lot.

NotMuchMoney, but that's my point. Dan has already bagged his options. If delays and issues with Franco second payment are indeed in 'play' still, then no options should be issued. Otherwise, they are rewarding failure.

When's the next MD&A???

The only question I want answered right now is how ha sthe tailings geo work gone. Is it complete and have they done all that is needed for the Franco second tranche to land??

The fact that they haven't offered that information after almost 8 months of operations suggests they don't have the answers which is a major worry... hence it would be appropriate for management to keep shareholders properly updated.

I still can't believe you can issue management options without the news on the second tranche landing. It's crucial to our path forwards. It's the news we are all awaiting. Once that lands... then by all means issue options but only based on performance criteria being met.

Much appreciated Pbow.

There's really not much more that sharehoders could ask for is there??

1. Metals market boom

2. Noboa election win = Pro mining and business plus continuity

3. M&A actually happening in Ecuador and not just elsewhere

If ever you were going to sell an asset or do a deal now is better than ever.

Yet here we are at near all time lows and a management team that seem awfully reluctant to update their shareholders on the holes drilled to date.

If the rigs are off to sort Tandy in a week or two... one would assume they are all done with the tailings geo work now.