Member Info for highflyigman

Add, I agree the IPA and exploitation agreements are of great value, but do we think they are a blocker to a bid?

I re-listened to the pres again yesterday whist working too Add and thought exactly the same thing. What are the specific milestones and when will they be delivered? There aren't any, literally nothing!!! ( other than the exploitation and investment protection agreements by year end ).

As far as I'm concerned that tells me everything I need to know, we're dressed up for some sort of sale. The two interesting points I took from the call were that we've got plenty of cash for the next 12 months+, and a number of NDA's signed and an active data room. This has been mooted for some time but the first time we've heard this form the company itself. Scot said himself 'it's all part of the process', but didn't say what the process was but lets face it he meant it's 'all part of the [sales] process'. Nuff said - it's just a waiting game now and I wonder if one of the Chinese suiters will strike during this seasonally weak period???

One question for any sensible posters, does the investment protection agreement need to be negotiated by SOLG or could it be done by any new owner of ? Let's face it, either of the Chinese suiters are probably better at dealing with the Ecuadorian government than SOLG as they surely have far more leverage so these agreements not being in place shouldn't be a blocker from them making a bid???

C

Hey DG1, agree with your points however I was comforted to hear the current cash situation is good for a long while and especially pleased to hear from the company it's self that there are multiple NDA's signed and a busy data room. Like you I believe CA by year end is very achievable, however wonder if one of the Chinese suiters would take advantage of the traditionally weak time of year and make an offer early in the know that they have additional leverage on the Ecuadorian authorities that other potential bidders don't have - but that might be wishful thinking!

Anyway, the direction of travel is locked in and we've got interest and it's only a matter of time before this plays out. Holding strong if not impatiently!

I was trying to do two things at once yesterday whilst listening to the call, so does anyone have a link to the recording yet so I can listen again?

Have a great weekend all. C

Anyone else think Caldwell sounded like Jie Biden today?

Much if it we already knew but the comments on cash burn and having signed multiple NDAs and a busy data room we're welcome to hear from the company itself. We're up for sale and we've got viewings, simples. I'm waiting patiently as the stage is set. C

Just added another 150k.

Sale of treasury shares???? Who knows but thus drop makes me think there is a bigger picture in play.

Time will tell. C

Well done DG1, seems like your lobbying has paid. There is simply no way the management will would be organising this unless they had positive things to say. Keep the faith all, life is short and there's no room for negatively. C

Did also occur to me that if a rumour was to be put out there to kick things off, it would have to be followed up by something or its a pointless exercise. Unless like add intimates, thats was enough and a formal initial offer is forthcoming. Nothing surprises me any more with this share but I'm keeping the faith as the team is no doubt on it and someone is bound to want to take this on. Sitting tight still, but like BigDude says, waiting is frustrating and difficult but patience will be rewarded I believe. C

Interesting read..

Gridlock: how a lack of power lines will delay the age of renewables - https://on.ft.com/3X2ktX3 via @FT

.. or behind a subscription which looks to be the case. C

Can't see this on the website Slug, is this a new alert?

Might just be me being a muppet as I'm on my 3rd espresso martini :-/

We seem to building a base around 16-17p. And you know what they say...

'The bigger the base, the further in space!'

Waiting patiently. C

For any kind of commenraty from WI, your best bet is twitter. Most recent post....

'Waiting for a bid is a painful thing to do. I am holding and not saying it is an easy decision. I sold an oil company once two weeks before a takeover bid and left 10 million on the table, so I try to be more patient. I am waiting.'

The conundrum this presents for us all snowman is that Solg, or at leat the parts that currently have value attached to them are up for sale. We've got a best in class financier on the case and an experienced mining ceo at the helm whos restructuring the business to realise shareholder value. There is no doubt we are in for a bumpy ride, however the long term trajectory for copper is understood and I just don't think I'm a good enough trader to trade round a short term drop in sector confidence. For me, it's just hold and ride out the volatility.

On a separate note, does anyone actually know whether the exploitation and investment protection agreements are a complete blocker to any corporate action? Are there any previous examples of takeovers without these been in place or fully up to date? My understanding is that we do have agreements in place already, but they are being updated.

ATB. C

Completely agree Add. I get that a good few are getting despondent but the fact still remain this world class asset is up for sale and we've got a man on it. Scott staying on with other exec's will be part of the deal to manage Cascabel into the next phase. Nothing I've read today ( thanks for sharing IT ) has changed my option, however I recognise I could well be wrong. C

Full Thread... here you are add.... ( HH - I know you pop in on here every now and again so ... full copyright "@Hubrishunter" - although like some other respected posters he probably stays away these days given the utter b3ll3nds that seem to hang out on here these days. Thanks christ I have two businesses to run to keep me busy and away from some of the tosh on here during the day. Hi to all those posters who are staying away for there sanity! )

$SOLG Solgold: a few things I infer from the last RNS: · “Management is internally evaluating a phased approach to the development of Cascabel with the intent to reduce upfront capital and shorten the development schedule.” & $25.4M shares held in a wholly owned subsidiary 1/

So Brooke Mcdonald, CEO of CGP back in 2021 when the PFS was delayed hinted at how they wanted to develop Alpala. Cornerstone said this already in 2021:

“the focus of initial operations should be on accessing the high-grade core at Alpala” 2/

Currently, it has 442MT at 1.40% CuEq in the measured and indicated category, including 359MT at 1.47% CuEq in the measured category alone. We expect that targeting the high-grade core with a smaller initial footprint will lower project risk through higher margin tonnes 3/

earlier in the mine plan, and will provide a platform for expansion at Cascabel.” “The lowering of initial capex will be achieved by sequencing the mining of the highest-grade portions of the core first, through a smaller initial footprint, which will allow for expansion..4/

in the future. While it’s too early to tell, we expect that additional targets will provide a roadmap for an optimal development plan.”

This is what I think part of the plan is but with a JV structure involving ENAMI and Jiangxi. I will never say never BHP/NCM 5/

As for the treasury shares held in a subsidiary, I was very surprised as I really convinced it was a block trade in favour of someone like Jiangxi, but clearly that would have by law been reported within 3 days. So I was wrong here. Why not sold? Why keep? Maybe it was their 6/

Intention to keep and sell to whom? If it is bc of low stock levels then why new shares to Jiangxi at 0.2$?Given they did DD and felt confident to buy a decent stake? Waiting for JV clarity?Why sell at all? But referenced as a potential source for cash. Anybody have a theory?7/

Does it mean some will bid for that subsidiary containing the ex treasury shares? As they stated, they no longer have treasury shares (derived from CGP’s old SOLG stake). They were part of Newco. Need to think about the permutations/implications regarding this.

Some interesting comments from a previously respected poster;

https://twitter.com/hubrishunter/status/1658109970938732546?t=DiRtr1ctZDS7jE9_FnW_zQ&s=19

Welcome back DG1, you had a personality transplant whist you've been away as reading you posts this evening was an absolute pleasure, didn't agree 100% but none the less all constructive.

I'd hoped for a swifter resolution to all things solg like yourself and many others, but the reality is that time plays a big part in any deal, and every second must feel like an hour to Bob, Mather and all the other players who want to move on as much as we do.

For so many reasons this will get sold, split up and sold, or whatever flavour of corporate action we end up with, but it's coming and the hardest thing to do right now is nothing. It's frustrating, but the asset is too good and potentially too important to too many potential suitors, so it's just question of checking for an RNS, the forget about till 7 am the next morning. See yo at 7. All the best. C

NAL, WI messaged this the other day...

'The Chinese are the most likely buyers. They will take time to complete their due diligence for sure as it is a big project.'

This implies they are already doing DD on the resource. Granted this is an assumption and we all know what happens whe you make decisions based on assumptions, but Bob and WI know each other well and your not telling me WI doesn't have an inside track on what's going on. Make of it what you will, but WI was very confident of recycling his SOLG investment in time for the next metals bull run recently and that's positive as far as I'm concerned.

Hope you enjoyed mother's day. ATB. C

Everyone just needs some patience;

- The world needs what we have, lots of it

- What the world does have is running out

- The prescious metals we aslo have are fast turning into 'the' safe haven in a divided world where trusted stores of value are gaining importance.

- it's up for sale

- We have an interested party who's been doing DD for a fair while now

- We have an industry renowned banker on the deal who is aligned with our very own interests.

Like BigDude has said, 'the numbers are big', so it's just going to take a while to get closed out, but for me, we're on the home straight to step 3.

Enjoy the weather all and forget about the sp, its irrelevant unless you need to sell any time soon.

C

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From BigDude this afternoon...

'I think the Chinese are the most likely buyers. They will take time to complete their due diligence for sure as it is a big project. The issue is things are getting tougher for the Chinese to buy large world class assets, so they know they need to move faster than normal.'

'take time to complete' .... interesting choice of words. To me this indicates WI thinks the Chinese are already doing DD ( well, we already guessed that much anyway ). A price must have been agreed for them to be this far and letting them inspect the cores, drill logs and everything else that goes with the DD process. Would love to know what it is! Another day closer. C