Member Info for HereforHemo

DBW a £68k buy is a serious vote of confidence. Good news coming soon imo.

The companies interested in Cascabel are multi billion dollar companies. There won't be a JV, they will just buy SOLG lock stock and barrel, in my opinion.

According to a World Gold Council report central banks bought well over 800 tonnes of gold last year, up over 14% year on year. That demand alone boosted the value of Gold by 10%. This trend will continue in 2024 meaning the level of reserves moves towards an average of 40% which equates to an additional $3.2 trillion in the asset corresponding to a price of $2,500 an ounce.

With Cascabel having 9.4 Moz only costed at only $1,750oz in the PFS, the economic case is so compelling, with so many majors after it, the only logic outcome with the vast sums involved in acquiring Cascabel is a takeover of SOLG itself.

The interview confirms the thoughts from my last post. The one and only priority for Scott and Chris should be enforcing our cash position. Once achieved its the difference between Cascabel being valued in billions as opposed to hundreds of millions. However as I've stated before, I'm very hopeful it will indeed be sorted this month, and with gold forecast to hit $2,500 an ounce by the end of the year, and the PFS costed at $1,750, Cascabel could not only be huge for us it could and should be gigantic.

I think we'll hear about some non dilutive finance in the next couple of weeks, maybe on the back of the strategic review finally being published. I certainly expect them before the technical report is out and that's highly likely to be sometime this month.

Dollar now at a low for this year and likely to fall further on rate cuts which has already pushed gold to a 5 month high. Silver also rising and I'm sure copper will do so soon to create the perfect storm for a returning bull market.

China economy needs copper and Chinese consumers flocking to gold. Newmont now producing 50% more gold than Barrick who I feel have to respond, maybe other majors too. I feel every week that passes paints Cascabel in a stronger light. BUT it annoys me posters stating 'breakout' , '9-10p tomorrow' etc. The fact is they'll be no breakout. Not because of the so called market manipulation, or by credit companies or anyone else. The fact is we need to sort our own balance sheet out and extend the financial runway, THIS imo will be the catalyst for the SP to fly. Luckily I think all will become clear on this in the next 3 weeks. Until then, more patience required I think.

Following the Toronto conference I now think Cascabel goes to either Barrick or to China. The major positive is there's definitely more than one party thar wants it, so that in itself bodes well for shareholders. Plenty of good news arriving this month. All in my opinion.

I posted earlier that it wouldn't surprise me if there was competition for Cascabel.

My understanding of the situation is that following the signing of the agreement in Toronto, Cascabel is now FRONT OF MIND for some serious big hitters. I emphasise the word some!

Let the games begin.

I've got no axe to grind either way but personally I've filtered both 1984 and Quady. I'm quite happy to leave them to their heat pumps and climate discussions with just a green box to show for it. Why the hell they're intent on disrupting the board with discussions NOBODY else is interested in is beyond me. Its a SOLG discussion board. Why do people find that so hard to understand???

Noboa has improved it 800 points in only 100 days. The increase in VAT and other taxes will help, but most importantly the tens of thousands to be employed in mining will reduce the 50% unemployment (making it less likely people in poverty will join gangs) and increasing the tax revenue to the government.

I don't really understand why people are arguing about who takes Cascabel into production. The important thing for shareholders is its being built, there will be a mine! Whether SOLG somehow finance it (which I doubt, although I think our relationship with the Government is intrinsically linked), whether its a JV, whether Cascabel is sold, or whether SOLG is sold (which is what I think will happen with the new owners keeping the name and personnel), it really doesn't to me. ALL scenarios add shareholder value and that's my one and only concern. To me, just a matter of time.

Roxi I agree. In my opinion the only risk with SOLG was their financial viability. Slashing their burn rate helped but to me, having a recent MOU signed for a Hydro-Solar plant with multiple multinationals to provide additional power to Cascabel, and most notably the confirmation of the $3.2bn commitment to actually build the mine has taken away all perceived risk. You simply do not get the President of Equador changing his diary to not only take the 8 hour flight to Canada but actually stay longer than planned just to sign a flagship history making deal with little SOLG IF he wasn't 100% sure the mine was not 100% funded and would be built. There are very exciting times ahead. 50p-£1 is realistic for this share, sooner rather than later. But, I'd emphasise its just my take on things. GLA.

144,425 more towards my total. That's me done, all in. Now I'll just wait. GLA

A few comments from Noboa's presentation that I thought may be of interest:

*less than 6% of Ecuadorians are retirement age

* the largest demographic is 14-35 year olds

* the unemployment rate of this demographic is 50%

Noboa sees mining as a primary solution to this problem.

* protection of the environment is key

* he wants to streamline all of the interdepartmental delays in mining applications/permits etc into one single group giving rapid decisions

All in all seems really calm and balanced guy, and as pro mining as you could wish for. Let's hope he can drive through the constitutional changes that are required

Thanks for the clarification, apologies for misunderstanding it.

Not wishing to put a damper on the obvious excitement but wouldn't Ecuador have to open the Mining Cadastre before investment was secured and deals are signed off? I may be wrong but I'm not expecting major developments on this as soon as others are expecting it.

Fort the recent Cascabel RNS specifically mentions $3.2bn in the second paragraph.

Noboa is making good progress on the economic front, although still early days.

https://www.ecuadortimes.net/the-country-risk-falls-to-1321-points-what-does-it-mean-for-ecuador/

Just bought another 142,178 and I'll continue to add.

Fort in summary, apart from the exploration agreement, lots of news THIS MONTH.

That aged well. So will it be the Chinese or will Barrick steal the show? Who cares, its getting funded!!!

RE: The Chinese Buying3 Mar 2024 12:44

So Noboa and a strong Ecuadorian delegation in Canada with Scott and Chris leading the SOLG team and various meetings arranged with majors over the next few days to progress Cascabel. I would suggest that if it's going to happen it going to happen now. My money is where its always been, with the Chinese. I don't think they'll get it without a lot of competition therefore I don't think they'll get it cheap, but they have deeper pockets than anyone. Hold for gold (and copper..and silver).