Member Info for mattlilly

Cash burn $9.6m

Cash balance $22.9m

"With the ongoing restructuring efforts described below, management expects current cash balances to last beyond June

2024. Management intends to raise financing prior to June 2024 in order to maintain a strong cash position...

The Cascabel project will continue to move forward efficiently and cost-effectively. The following activities will advance and de-risk the project:

Securing the property required for essential infrastructure such as the tailings deposition site, the concentrate and

tailings pipeline route, etc.;

• Preparation and issuance of a Revised Prefeasibility Study that will examine a phased development approach for

the Cascabel Project;

• Engineering of the elements required to advance the study will be conducted by SolGold technical personnel; and

• Required third-party engineering will be sourced through a multiple-bid process and awarded to qualified firms

based on quality, cost, and schedule.

Capitalised expenditures on exploration and evaluations 3 months to Sept 23

Cascabel 3,042,767

Regional projects 1,282,463 ( I suspect this may be Bramadero...?)

Page 15 of MD&A is Major activities undertaken in the reporting period

Eloro...I believe the 'decline' is the angled shaft that will be dug in the first phase to access the higher ore.

It may not exist any more but Keith Marshall produced a graphic showing this after PFS2. Ingo was also very enthusiastic as it brings down the first phase production costs...

I've kept several presentations and the graphic is on page 20 of the 3 August 2022.

B***er...

Up 12% so far...biggest volume day since Sept 21st...

Volume still not great...

Would be good to close near or at the high of the day with a solid UT...

ATYM up 7.3% since Friday; ANTO and CAML up 4/5% in 2 hours...all pure copper plays...

GDXJ up 5%

If copper and gold puash on, lets see if it flushes out the first bid...

Theres been no hurry for the 20 in the data room up to now, but the start iof the Junior Miners and metals boom could cause their nerve to break...

Especially if XIB close their short and we plough through 10 and beyond...

We need to break 10p...soon...and then we're off to the races...

Copper breaking out at $3.745...?

And we're through 9p as predicted...

When will one (or more) of the 20 in the data room blink...?

Hi 1984...I'm on a Twitter Board where we have a resident 'chartist'...

Incidentally...SOLG closed at 9.74 in Canada last night...no movement today yet...

ANTO up 4% in the last 45 minutes...

GDXJ up 4.4%

Gold hit $1971, up from $1944 today, well through resistance...Silver up 3.3% in just 75 minutes...copper up 1.6% today and bang on resistance...

Aha...surprise surprise...the dollar is sharply down and US 10 year Treasuries sharply up as markets speculate that US interest rates have peaked following unchanged consumer price inflation...

Maybe the starter's gun has been fired...

Sorry subby I missed out that the CFO and the CFD both left the company following the very public failed fundraise, having recommended against it at the Board.

Hi subby

First read my post below...for the patient this is a bargain...if we get a repeat of 2008/2010 this will multibag...

Here are my responses to the points you make:

It has in fact gone from 40p to sub 8p before bouncing

I will deal with the macro factors later, but internally it has been chronically mismanaged.

Nick Mather can't really be blamed for overhyping it becauze the SP got up over 40p at least three times.

The PFS was a high spot but things started to go wrong in 2022 after 'PFS2' was published...

It had become clear that, in declining capital markets and with inflation starting to rise rapidly, that Cascabel was unfundable for a Junior Miner such as Solgold.

But the company needed money to keep going.

Darryl Cuzubbo had been appointed CEO in late 2021 but it was the previous acting CEO, Keith Marshall who, with consummate mining experience with Rio Tinto etc who persuaded the Board of a modified mining plan.

In May 2022 SOLG appointed a competent CFO, but Cuzzubbo tried to lead a 'cashbox' fundraising, against the advice of SOLG's bankers and its CFO and Corporate Finance Director.

The fundraise failed spectacularly and the SP plummeted from 35p to under 14p in under three months.

Unfortunately this coincided with a collapse in the copper price from over $5 to under $3.20 and coincidentally a fall in the gold price from over $2000 to under $1640...

So...a perfect storm...

Since then we have had the Cornerstone 'takeover' which boded well, with SOLG ending up with 100% of Cascabel and Bob Sangha (who engineered the Wyloo takeover of Noront) very publicly saying SOLG would be sold.

The 'merger' was a disaster because of internal incompetence and took twice as long as it needed to. As a result Scott Caldwell, ex CGP, took over as CEO and he has massively simplified things. There is no drilling going on anywhere but there are 20 interested parties in the data room.

Unfortunately during the news hiatus, Berry Street went into liquidation and sold its share stake, taking SOLG from c14p to under 8p...

So I hope thagt explains things.

Meanwhile, as I was writing this, Gold is flying and copper is up sharply.

Please make your own decisions, but my wife and I have 1.4 million shares at c11p and i think that tells you what my opinion is.

Good luck

Can you believe that the filtering algorithm just censored "qu int upled"...?

here is the bulk of my recent post on advfn...

i am in no doubt that china is manipulating both copper and gold while they continue to build up their stocks of both.

look at that quote from the gretchell article:

"central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year in records going back to 1950..."

gold went from $33 to $880 between 1972 and 1980; from $236 to $1940 between 2001 and 2011 (gordon brown sold a big chunk of gb's gold at the bottom!); and from $1050 to $2060 between 2015 and 2020...

the junior gold miners index (mvis) *****upled between november 2008 and november 2010..

and make no mistake...at these levels, solg is a gold play, with 75 million gold equivalent ounces.

we can all offer various opinions on gthe inflationary last couple of years, but...

at a time when us inflation went from 1.4% in jan 2021 to 9.1% in june 2022, copper went from $3.50 to $3.59...

but after the 2008 crash, copper tripled in just 2 years and, for example anto's share price (a major copper play) tripled over the same period...

indeed when copper went from $2.19 in march 2020 to $4.76 in october 2021, solg went from 11.75p to 41.75p...

and meanwhile, most of the major metals and minerals analysts are predicting a copper price boom by 2025 at the latest...

so...

solg is a junior miner

it has become a gold play

it is also a copper play and...

three of the world's biggest miners have a strategic stake...

its just a matter of time...

Totally agree Italian...the voice of reason...

Don't worry...I only posted about Quady because he slanders DBW. He was immediately refiltered.

I also look forward to the good natured Board we have had from time to time.

At least Quady is consistent. He has said from almost his first post all those years ago that Cascabel is going to production and that a takeover can be ruled out.

You have to admire his blind stubbornness...but of course when the takeover happens and he makes serious money like the rest of us, he will of course insist he was right all along...

I will now return to my knitting, macrame and origami.

Thanks again and Merry Christmas.

And invested and incentivised Eloro. Agreed.

Sincere apologies for the typos...my handwriting is even worse!