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RodneyT, unfortunately I don't think the BoD's have any intention of defending it. I think it's been manufactured by Bob/Maxit/Paul and Dan. I trust none of them.

And no... if Chinese do offer 28p, I don't think that's it. Always a chance someone else comes in but there's also a chance the chinese get blocked on the deal by USA/Noboa and or they pull out after 2 months of due diligence or if they feel there is no counter bid coming. So risk to downside as well and anyone that think 28p is the floor needs a rude awakening. The market is telling you that now with sp at 25p or 24's earlier. There's real risk to this deal with chinese on a number of levels.

I don't have the same faith you do in Dan and Paul. I think they were brought in to get this to exactly where it is now.

NotMuchMoney... The market thinks Solaris Resources is alright just shy of £1bln market cap. They are behind us on some things but ahead on others. But their asset is much smaller and less profitable. They have $3.7bln capex!

You have Franco and Osisko up for a $750m investment. There's nothing wrong with the asset apart from the fact that it might be toooo BIG for some.

Now you're sounding like someone that doesn't want the chinese bid to fail as you can't stand the idea of the sp dropping back. But come on... it will bounce back. ExploreCo... CIPA... more TAM drilling. We'll get our mojo back. In 2 or 3 years we might even be £1+.

Selling for 28p is utter madness. Had this Chinese offer never come along, we'd still be drilling TAM... still be doing ExploreCo and we'd probably be mid 20's to mid 30's if not better.

Instead... there's a feeling that this is the only option. Where did that come from??? Yes... it's disappointing to think BHP are not interested, but as I said... they have big brazil legal issues ongoing. Perhaps they'll be interested next year when we derisk more?

Yes we know... you and your multi aliases have been spamming the entire LSE BB.

Watch out for that 10% holder. They look like they will dilute the little guy with pleasure.

Agree, but my worry is that they don't make the offer and then bash the sp back to 10p levels and then Tonguan or Zijin come in and offer 21p!

The game of price discovery and more importantly getting to see BHP and NEM's poker hands first has been accomplished. Whats to stop them coming back in a few months time when the sp has been deflated, management infighting... shareholders now wanting 28p again like it was fab... like you say lots of opportunities to create a sense of weakness in SOLG which is crazy considering the optimism and strength we have about 4 weeks ago! They've killed us with this low ball bid.

The irony is... since the shares total got announced, there's been about 9m options exercised or 9m shares gifted to someone. Seems to be happening regularly!

Like I said... I think they might have known they were out of picture due to possible block by Noboa/Trump so thought they would try and find out as much as they could before they got blocked fully lol!

If Trump/Noboa has blocked it then that's great news. Might not feel like it near term as there will be turbulence.. but long term... SOLG have great assets... we just need ExploreCo moving and JV deal sorted.

The correctiive ones seem odd. Didn't they know how many shares they owned ??? You couldn't make it up with Mather and Maxit. Both can't seem to get the holdings calculated. On top of that, it's clear that someone miscalculated on the TSX / canadian holdings which is why they are not having to seek exclusion to the rules. Hopefully they won't be able to do that and we'll still get the MD&A update which gives shareholders a guide on the cash balance.

I'm no fan of the management and many will know what I have said before, but it's not all down to them. The timing of the low ball by Chinese is calculated. BHP are pre-occupied with litigation matters at the moment. A couple of weeks ago they were in the UK courts trying to wriggle out of the Brazil dam case. The UK courts sent BHP's laywers packing and the net result is they lost that phase of the case and look like being on the hook for billions and billions of compensation payments similar to what BP had to do after their environment disaster.

So BHP might have fancied the project... still do... but were told by the laywers and bots at the top... it's a no-go at the present time.

Some investors on here I think are living in la la land. Royalty deals were needed at the time as the alternative would have been hefty dilution. My guess is that we would have around 6bln shares in issue right now and BHP if involved with the equity raises would have owned 30% or more.

For long term shareholders it's a lesson of learning when to sell. Selling a few years ago when the sp was 45p and 2 billion shares in issue would have been smart but on a value basis the market cap would not have been far off what the 28p bid is delivering today.

The CGP merger and the issue of around an extra 1 billion shares is why we are where we are. We gained 15% of Ensa which is like getting 15% of an asset that the market already undervalued lol! And then the CGP SOLG 6.5% stake was priced at 22p at time of merger and the CGP boys gave that away to the chinese for 9p. So we lost value on those shares and we lost value on the merger and we lost huge value and time allowing the CGP boys to run the show and now... we are looking at Bob/Maxits desired exit and not looking at the future opportunities that await us.

CGP/Maxit/Bob... all of them had virtually nothing to offer. They had a 15% stake in ENSA and 6.5% in SOLG. There was a ticking time clock waiting to dilute the living xxck out of them due to past costs/development costs. CGP would have gone under or would have had to sell out cheap.

And wow... look at what happened. The tables got turned.

You can still block this deal if you try. Just bombard the whitehouse email and Noboa's email with requests to block the chinese gaining probably one of the largest mines and folios in Latin America. They will be able to control large amounts of the copper industry.

This bit is the one..

"Technical input from JCC, at their cost, will also contribute significantly in terms of savings and timing of assessments of Cascabel." END

There was absolutely no reason whatsoever to allow or give Jiagnxi onsite access and accept technical advice. Many of us at the time said... what? Why would the chinese offer to help us with technical advice lol! And more over ... what did our board think would happen?

"....will also contribute significantly in terms of savings and timing of assessments of Cascabel"... this line reads like it was written by the Chinese... let try it in a sentence shall we...

The Chinese said to themselves, that working with the BoD's will provide them with """"savings""""" and """timing""" of assessments of Cascabel.

Yes... well they certainly knew when to strike and they have certainly made lots of savings.

Remind me Dan and Paul... could you let us all know what 'technical advice' the chinese supplied to you please. Shareholders want to know what they offer OUR company.

Re-read this little pearla from Dan... after he gifted the Chinese 6.5% of the company for 9p or a pony £15m. If this goes to the chinese for 28p... there will be serious implications for Dan and Paul. The cancelled conferences before Chinese made a bid was also a sign that the BOD's did not want to market the company anymore. Why? Because they had their buyer and one thing in mind.

"Chief Executive Officer, Dan Vujcic commented:

"I am pleased that conditions for the JCC transaction have been satisfied expeditiously. The investment strengthens our balance sheet and allows us to assess interesting opportunities to bring forward production at Cascabel and formulate a plan for our vast and valuable exploration portfolio. Technical input from JCC, at their cost, will also contribute significantly in terms of savings and timing of assessments of Cascabel. We are focused on unlocking value for our shareholders and for Ecuador" END.

Https://www.politico.eu/article/donald-trump-tech-rare-earth-china-ai-singapore-exports/

"The strategy states that the Western Hemisphere must be controlled by the US politically, economically, commercially, and militarily. It is the ‘Trump Corollary’ to the Monroe Doctrine – an 1823 policy which established that European powers should not intervene in Latin America. This paved the way for US pre-eminence in the region until well into the 20th century. However, Washington neglected it in the last three decades." END.

Article well worth a read from 5 days ago. Perhaps the chinese are more concerned than we think and decided to 'test' the water.

https://www.chathamhouse.org/2025/12/trump-corollary-us-security-strategy-brings-new-focus-latin-america-it-disordered-plan

We know the offer is ridiculously cheap... so does anyone genuinely know (stand up now!) of any reason what-so-ever why the Chinese would not follow through with a formal offer???

1. Reasons to be cautious ... before... were... BHP or NEM could counter bid.

2. Trump Rhetoric not helpful and genuinely concerned that USA treat/Noboa could block the offer/deal

I think point 1 has been put to bed. Point 2... who knows? So I guess they are enquiring right now and will only go ahead if they get the thumbs up. Things is... they really need an answer soon like before the 24th.

That said, they might just wait and if nothing is approved at a Noboa level... then I suspect SOLG can always help them out and extend the deadline another 30 days. By which time... they should have mopped up more than shares... assuming that's the joint team plan?

Come on Dan... where's the news updates you promised. We're sitting duck right now and need you fighting our corner... not disappearing into the shadows looking at autotrader for your new Lambo.

I did notice that. The likes of Blackrock who are invested in Jiangxi will be delighted with the idea that they might bag a $6bln asset for not far off $600m NET to them.

Unbelievable ! They'll probably delist once they've got Cascabel in full production mode!

Be careful of '1832 Asset Management L.P.' They hold close to 10% of your beloved OMI. As SOLG shareholders have found out... never a good thing these days.

We have options... but as I said from word go... need everyone to block it. That means pressing Noboa and Trump via white house and Noboa's email links. All easy to find. And on one of my posts from a few days ago. Put pressure on them to block it.

If we get Chinese out of the way by blocking them...then we have sometime to get things done properly. Get the ExploreCo listed on AX. Get ENSA into a proper auction phase ... none of this Chinese gift stuff. Seek partners, JV's. Loads we can do.

But we are sunk imho if Chinese get go ahad by Noboa and Trump... and trust me... that's the conversation that PBOC are having now. If Chinese do not make a formal offer... then you know they were told it was a NO from Noboa.

Remember... he can withold permits/CIPA etc etc. So Chinese can't takeover SOLG without having big reassurances from Ecuador and right now... Noboa is cosy with Trump after sealing a US treaty deal.

TheFerns... I told you to sell out of GGP when it was 30p.

And you've lost a bucket load doing the opposite. But I'm glad you've got something back after being diluted to heaven and back.

Smickster,

I'm fuming ... sorry for defeatist tone but unless it gets blocked by Noboa / Trump... I can't see the 'many ways' this could you can.

The rug was pulled with BHP. NEM and BHP both are happy to exit. My biggest fear now is the Chinese play silly buggers and now they have the price discovery and BHP outed... they drop their bid further down the line after doing 'due diligence' cough cough.

Our board have done nothing smickster. It's been nearly 3 weeks and they could have dropped some greats news. Instead we get silence.

Most of it I am just venting off. I'll cool it down or try to! As can see it's not helpful and so many have been here for so long ... just feel really let down by BoD's and the market as a whole. When this is over... I will be steering clear of London Stock market. Reeves can stick it up her @rrrse. I aint investing in this joke of an exchange anymore. We're going for a song for number of reasons but LSE to blame for much of it with poor understanding of valuation and weak liquidity.

Montecristo2,

The trouble is... money doesn't grow on tree's Chinese know this and so does Bob at Maxit. SOLG could outright turn the 28p down, but Jiangxi would just do a private deal with NEM, BHP and Maxit. They would get to around 36% anyway. When it that position, they can boss around how we raise cash... they can put people on our board to keep their mate Mr Lui company. They are slowly eat this company inside out. Without a major holder to contend them, it's game over.

Oh... and then there's the cash required. So lets assume we block chinese and we are back to going it alone with great news flow lined up. Mmm. The market is going to say... how are you gonna fund this. The options are.. copper stream or bank finance or CB's etc and equity dilution. The chances are our PFS will be pumped up to $2.5bln minimum with TAM bolted on. Open pit is more expensive than block cave (large scale) but easier to mine.

Bottom line is... like the GGP story unfolded... their sp was 32p+ or something like that and then it got messy as they had to dilute to fund and acquire assets. Sp was 3p by the time they started to recover. The money was there to be made at the pre-development stage. Not at the development stage. That's mining for you.

Something many will learn on here going forward. The lesson is... enjoy the exploration phases but when that's over and the dauting task of financing it looms... get out.

Look at Empire Metals. Similar over there. 1p or 2p all the way to 80p+. Then thoughts start shifting to how is this going to be financed. How much does it cost to derisk the asset. Then the bubble bursts. It's 30p range now.

The path to going it alone is littered with risk and huge dilution although TAM certainly helps reduce that. Solaris as an example for what ever reason, has a market cap of £1bln ish and their capex is $3.7bln. For an Ecuador minnow... that's huge. But how are they going to fund that $3.7bln?? Market doesn't seem to care one bit nor does it care about the cheap price SOLG is going for.

If we were on ASX where they appreciate miners. I don't think we'd be around now. Unfortunately, we listed on London LSE and that market is dead in the water for mining as a whole. Metals boom has sparked it up a bit but it's like trying to get blood out of a stone on this index. Want a bank or phama or pension insurance fund to invest in ... LSE is your go to.

Eloro.. more nonsense from Irwin. The royalty streams have a 50% buyback option. Had we not done them, shareholders would have been diluted heavily. I suspect we'd have around 5 billion shares in issue.

What is hard to argue against is why SOLG have struggled so long to find a buyer. Why Bob took 2 years and delivered zero.

And remember, Jiangxi got 12.2% of SOLG for around 13p a share. They are not paying 28p a share. They are paying 28p for 88%. And I suspect due to the mechanics of the market and some investors not wanting to be locked in here for 6 months while Chinese do due diligence and the sp remains at 26p or 27p range... they'll pick up another 15%+ at 26p or 27p levels. They won't be in any rush.

So they'll end up paying around 24p to 25p is my guess. Of course that matters not to Bob and Maxit. He gets 28p. That's 3p better than when he last sold a large wedge to BHP some years ago. Might just about cover the cost of inflation. Factor that in and the Chinese are giving shareholders 22p a share on the cost of capital they have suffered over last 5 years+.

Nevermind the missing the metals boom as 28p doesn't account for any of that at all.

Irwin, Bob and the rest of tge CGP boys should have been left to rot with the 15% ENSA stake they had. They couldn't even afford their share of the development past costs. They were down and out. And they've done us all in. Let that sink in.