Member Info for NotMuchMoney

ProfitSniffer - if only I'd thought about that 5 years ago!

It's risk vs. reward. Clearly Solgold prospects are FAR higher. But they may have a few additional hurdles and longer timescales.

Also, suspect Solaris is a bit frothy due to imminent PFS. May be a sell-off if PFS is not stellar. And we know about the lassonde curve orphan period after a PFS (multiple PFSs in Solgold's case!).

Fort - whilst Solaris are less advanced, I suspect their 'simple' high-grade, near-surface open pit (and potential for combined pits) has been more attractive to some investors.

Lower risk. Lower capex. Faster production.

They aren't being weighed-down by having to prove a block cave is viable, and demonstrating they can finance.

Don't get me wrong - If a major owned Cascabel now I'm sure the valuation would be far higher. But with SOLG's track record...

Addicknt - agreed, only have to look back to older corporate presentations (e.g. 2022) to see ENSA uniforms. Albeit with some Solgold uniforms too.

Damers, a thoroughly decent update, thank you.

Jack, I've made no threats against you whatsoever.

If anything, I'm trying to help by suggesting you consider what you write and any legal consequences. Rodney has suggested the same.

I won't lose any sleep if you ignore those suggestions.

Re: "Notmuchmoney - I have so much rubbish on you and all the trolls that I dare you to come after me."

i) you've no rubbish on me. My contribution to this forum has been researched/accurate.

ii) why would I have any interest in coming after you? You're an anonymous poster firing off random ideas each day. Doesn't affect my investment.

Try to enjoy the weekend and cool off a bit.

Wow Jack, what a moodswing today.

And yes Jerryspaniel/Rich3r - add the CEO defamation to Jack's potentially libellous comments about Scott purposefully sinking the SP for his Chinese friends.

Jack needs to be very careful. Frankly, Jack having consequences for running his mouth off all the time would be pretty deserved.

And following addicknt's comment about the company confirming Dan is relocating to London... completely agreed.

From Annual Report: "The CEO is entitled to reasonable expenses with respect to his relocation to Europe from Australia".

And from Companies House - Dan's directorship of Solgold UK Services Limited shows Dan currently being resident of Australia.

Solgold UK Services is certainly an interesting one.

However, the 2025 Annual Report shows 28 different Solgold subsidiaries.

A few of these are already 'services management'.

In particular, "Cornerstone Exploration Inc." - incorporated/operating in Canada with activity described as "Services Management".

Solgold UK Services could easily reflect a UK replacement under restructing for new Swiss domicile / tax reasons / part of ExploreCo plans.

InvestorPanda - suggest you check your own posting history. It is grim reading.

InvestorPanda - interesting you share texts with a CEO who recently you were begging to unblock you...

... and on this board you call 'a puppet'.

Oh, and "Smith and Vujcic are Sangha proxy’s", and "Sangha slu’t".

Why would you expect Dan to have any honest conversation with you whatsoever?

Hi Pbow. I got this from the title "Gold boom: a lifeline for Ecuador's finances, demanding greater control"

Do you have the article or summary of it (behind a paywall for me)?

Hi TheItalian

I take your point, but there is plenty that could be posted on:

- Ecuador social/regulatory (e.g. Supervision and Control fee)

- Metals demand/prices

- SOLG reports/accounts

- Peers progress/decisions (e.g. Solaris)

Loads of relevant and 'interesting' stuff but I agree with you we're waiting for major newsflow and subsequent re-rates.

So I can understand why some only post a few times a month.

Adults acting like children as usual.

Genuine investors - do what Monte says - filter and treat yourself to a wall of green.

As an aside, not much sympathy for those who read daily but rarely post. Trying contributing to the board. Instead of relying on the few to do the research and analysis for you. The board is what you make it.

Interesting tweet by Noboa.

Doesn't appear 'too far' away from Cascabel (but far enough).

Great to see action against illegal mining. But I can't help but think support and a big fanfare about the Tier 1 that is Cascabel will be equally important.

Grant of CIPA please Daniel.

You're welcome addicknt.

Agreed - Nick will be holding onto his Solgold interests tightly.

Plus I'd expect any change to Nick/Samuel (via related party) and DGR/Tenstar (through TR-1 thresholds) to be clearly reported to market.

Have a good weekend.

Hi addicknt,

I've spent some time going into "Nick's" 3 main interests in Solgold:

1) DGR Global

2) Tenstar

3) Samuel Holdings (where he receives salary and bonses, including those when CEO. Flagged as 'related party' in reports)

In 2020, these totalled c21% (10% + 6% + 5% respectively).

At June 2022, due to share issues, they totalled 18% (9% + 5% + 4%).

At June 2023, due to Cornerstone merger and increase in number of shares, they totalled c14% (7% + 4% + 3%).

Nick/Samuel is no longer shown as a substantial shareholding since he is below the 3% threshold (2.99% I think!).

But Nick is still showing as holding c90m shares. The only change since 2020 appears to be small sales in Non-beneficial holdings for the Mather Foundation.

In conclusion, I don't think anything has really changed with DGR, Tenstar and Nick's holdings.

It is 'dilution' from the Cornerstone merger that has resulted in the %s being lower, and Nick (via Samuel) no longer needing to report.

IMPORTANTLY, Nick's interests in the company have remained consistent:

c90m in 2021 (c3.9%, matches the corporate presentations for "Samuel Holdings Group (Mather)")

c90m in 2025 (c2.99%)

That is my view addicknt.

I'm not a fan of any stand-off with Govt. I'd like it all sorted. If anything, should be some additional incentives to get progressing (was it Solaris' IPA that had slightly better terms than Solgold negotiated?).

Hopeful of an update next week.

Caldwell is presumably on the Board for his technical knowledge. (Definitely not for his general management, comms or market engagement).

Weren't Franco + Osisko keen he remained? (From a technical perspective, rather than cheap takeover angle).

He can work closely with G Mining whilst Dan deals with stakeholders and comms.

And presumably, wouldn't have been a great message to market to give Scott the boot. Particularly if he could have then sued, like DC, and claimed his options. Plus he had c20m shares that he could have dumped.

P.S. 1CAD$ is not 80p. It is c55p.

Many here would be happy with 80p (or even 55p) at this current position. Throw in the CIPA, further success at TAM, ExploreCo.... and the price goes up.

Hi rcgl2

Great to see you back.

I was happy to get past break-even earlier in the week! The drawback of being a 'long'-termer and going in heavier than was sensible 4-5 years ago.

Didn't have the funds (or appetite) to take advantage sub-10p recently.

I felt Dan's appointment had more of a Nick influence than CGP. Certainly the CGP-driven 'strategic review' didn't achieve much and Dan, whilst saying he is his own man in interviews, seems more aligned to how I think Nick would handle things now.

Anyhow, things are looking up. You'll be past break-even before you know it!

Fort - I agree with your 10:16 post. A few regional drill hits could work wonders.

But Solgold are unlikely to have the spare cash at present, with most (if not all?) cash in bank restricted to Cascabel spending only.

That said, I would be happy if Solgold raised $15m to progress some regionals (such as Helipuerto, Rio, Chical) and complete the Porvenir PFS.

$15m is only c2% of Solgold's current £600m MCap.

But I can't see it happening. Focus is on Cascabel.