Member Info for mattlilly

SOLGOLD’S STRATEGIC VISION AND THE CASCABEL OPPORTUNITY

Our strategy emphasizes:

4. Selectively advancing our broader portfolio to create additional value

Strategically advance our diverse portfolio of mineral exploration assets

EXPLORATION PORTFOLIO – ECUADOR

While our primary focus remains on Cascabel, SolGold maintains a diverse portfolio of highly prospective exploration assets across Ecuador. These assets represent significant potential for future value creation and underscore our commitment to the country's emerging mining sector.

Recent exploration at Blanca-Nieves and Espejo Projects has uncovered significant mineralization, promising further growth potential.

Due to our strategic focus on Cascabel and prudent capital management, technical and fieldwork on these assets was temporarily suspended during the period. However, we continue to keep all concessions in good standing, recognizing their long-term strategicvalue.

Reduced all-in cash burn rate to US$3.0 million per month, versus US$6.5 million in 2023

The Company will need to secure further funding to meet the Group’s future exploration milestones and commitments, as well as project construction, but the Gold Stream Agreement subsequent to 30 June 2024 provides funding for ongoing operational requirements for at least eighteen months following 30 June 2024 for the Cascabel project; further funding is required to fund regional Ecuadorian projects and corporate administrative expenses.

As we progress with Cascabel and our financial position strengthens, we aim to advance these assets strategically, applying the knowledge and expertise gained from our flagship project.

As the project progresses, the Group will explore a comprehensive range of funding options typically available for projects of this scale and quality. Additionally, the Group remains open to exploring strategic partnerships that could bring valuable expertise in mine development and operations. The specific funding strategy will be evaluated and refined as the project advances and its requirements become more defined.

From the Annual Report

"Scott Caldwell

Chief Executive Officer and Acting Chair

26 September 2024"

DGR Global is all but bust...

That means a prospective bidder couldpick up SOLG shares in a lump soon...

"(a) Equities First Holdings LLC

Loan 1

On 16 December 2021, DGR Global Limited (DGR) entered into a loan agreement with Equities First Holdings LLC (EFH). EFH advan ced £1,679,302 (GBP) to DGR. The loan is secured by 12,000,000 ordinary shares held by DGR in Atlantic Lithium Limited (refer note 13). The loan bears interest at 3.5% per annum and is repayable on 16 December 2024.

Loan 2

On 21 September 2023, DGR Global Limited (DGR) entered into a loan agreement with Equities First Holdings LLC (EFH). EFH adva nced £911,121 (GBP) to DGR. The loan is secured by 15,000,000 ordinary shares held by DGR in SolGold plc (refer note 13). The loan bears interest at 3.75% per annum and is repayable on 21 September 2025.

(b) Choice Investments (Dubbo) Pty Ltd

In January 2024, the Company entered into a Facility Agreement with Choice Investments (Dubbo) Pty Ltd (Choice). Under the Facility Agreement, Choice has agreed to provide funding in a number tranches up to $10m, which can be provided by Choice and/or Co-Lenders.

To date the Company has drawn down $5m on the facility. The interest rate on the loan is 20% per annum, which is capitalised and payable on maturity, and the loan is repayable on 30 November 2024"

"Shares held in Atlantic Lithium Limited and SolGold plc have been used as security for loans advanced to DGR Global Limited by Equities First Holdings LLC (the lender) (refer to note 17). Title to 12,000,000 ordinary shares in Atlantic Lithium Limited and 15,000,000 ordinary shares in SolGold plc, representing 98.77% and 7.35%, respectively, of the total number of shares owned by DGR at 30 June 2024, have been transferred to the lender in terms of a Deed of Security. Although the title in the shares has been transferred to the lender, DGR has retained substantially all the risks and rewards of ownership of the shares and continues to recognise the investment in the shares.

At 30 June 2024, the 12,000,000 ordinary shares in Atlantic Lithium Limited and the 15,000,000 ordinary shares in SolGold plc used as security for the loans had a fair value of $4,756,004 and $2,528,070, respectively. Additionally, all the remaining shares owned by DGR Global Limited that have not been provided as security for the Equities First Holdings LLC loans have been used as security for the loan advanced by Choice Investments (Dubbo) Pty Ltd (refer to note 17)."

He is so way off beam...overlooking the forced sale of SOLG shares...see next post...

Obviously all the garbage posted on here has blocked the drains...

So the listing should be restored tonight...

Looks like its nothing to do with the debt...

Lets hope the market picks that up and the SOLG SP picks up from 10% down in 3 trading days...

Idiots!

The Annual Report was filed today...(remember Oz is ahead of us...

"Release Date: 01/10/24 08:12

Summary: Annual Report to shareholders"

Aye addickt...but read the last post which makes clear that announcing on the DGR website is not sufficient...

Sheer bloody incompetence...92 days to get it right and they post on the final day but forget to file it...

Yawn...but Mather misses a deadline again...

"Listing Rule 4.10.3 requires an entity that is included in the official list as an ASX Listing to include in its annual report either a corporate governance statement that meets the requirements of that rule or the URL of the page on its website where such a statement is located. The corporate governance statement must disclose the extent to which the entity has followed the recommendations set by the ASX Corporate Governance Council during the reporting period. If the entity has not followed a recommendation for any part of the reporting period, its corporate governance statement must separately identify that recommendation and the period during which it was not followed and state its reasons for not following the recommendation and what (if any) alternative governance practices it adopted in lieu of the recommendation during that period.

Under Listing Rule 4.7.4, if an entity chooses to include its corporate governance statement on its website rather than in its annual report, it must lodge a copy of the corporate governance statement with ASX at the same time as it lodges its annual report with ASX. The corporate governance statement must be current as at the effective date specified in that statement for the purposes of Listing Rule 4.10.3.

Under Listing Rule 4.7.3, an entity must also lodge with ASX a completed Appendix 4G at the same time as it lodges its annual report with ASX. The Appendix 4G serves a dual purpose. It acts as a key designed to assist readers to locate the governance disclosures made by a listed entity under Listing Rule 4.10.3 and under the ASX Corporate Governance Council’s recommendations. It also acts as a verification tool for listed entities to confirm that they have met the disclosure requirements of Listing Rule 4.10.3.

The Appendix 4G is not a substitute for, and is not to be confused with, the entity's corporate governance statement. They serve different purposes and an entity must produce each of them separately."

Looks like it was late filing of its Annual Report...

https://www.tipranks.com/news/company-announcements/dgr-global-limited-unveils-2024-annual-report

https://wcsecure.weblink.com.au/pdf/DGR/02860451.pdf

Corporate governance at DGR...

https://www.tipranks.com/news/company-announcements/dgr-global-affirms-corporate-governance-transparency

Way to go HfH...

Not only does he not have a hot line...he is banned thanks to his disgraceful accusations...

Wow! S/o is keen to sell...26 million so far....

"A major gold discovery is one defined as one containing at least 2 million ounces in reserves, resources, and past production."

We have 9.4 million ounces...

"“The S&P report is misleading in that it shows that major mining companies are exploring for more gold, but they are doing it on their own properties, sometimes mining around the edges of deposits discovered decades ago,” he noted. “They are doing nothing to go out and find new mines, but that has never been a major’s job. It’s the job of juniors to discover new mineral deposits, but they are not being financed; they literally have no money and are conducting financings at 5-10 cents, thus blowing out their share structures.”

Are you sure Maxit doesn't have a contract...?

They arranged the Osisjo, Jiangxi deals and the FNV/Osisko offtake...

So why wouldn't Bob have a contract to sell SOLG...?

My 2.88 million shown as a sell...

I wonder if weak holders from the cash raise are selling out...?

Bought another 2.88 million at 10.4...cheap as chips...

I haven't felt this bullish about miners since 2010/2011

At current gold and copper prices the Post Tax NPV is $5.2 billion...

What's not to like...?

Up 7% in 2 days and 17% in a fortnight...

Bid for 250,000 at 10.42...now up 5%