Member Info for NotMuchMoney

Pbow - I concur on the 'unable to amend the PFS presentation / sensitivies due to NI43-101 standards'. Company has confirmed that a number a years ago (i.e. prior to Sean).

There may be an opprtunity to update given TSX listing has now ended. However document presumably still needs to comply with NI43-101 standard, and hence remains static. Otherwise need to go for JORC code (which interestingly doesn't need a technical report to be formally filed).

Hence are Solgold reducing time required to prepare a FS by moving from NI43-101 to JORC? The TSX delisting would have facilitated this.

Addicknt, you mean "new posters' AIs are familiar with the disclosure rules"?

Rodney - not sure I agree with your AI's "located in stable jurisdictions—a profile that matches SolGold’s Cascabel and Porvenir projects."

Can hardly call Ecuador's political and economic situation, and mining & Exploration industries, "stable".

Hi addicknt, agree, not clear on Cornerstone Ecuador S.A., which sits under Solgold Canada Inc and owns 15% of ENSA.

Been through the MD&A / quarterlies and whilst the sale of 151m of Own Shares to Jiangxi is covered, nothing around changes to the structure.

Suspect there will be some corporate activity to get 100% under Solgold Finance AG, or similar.

Wish the company would provide more info on Christina Weber and Joerg Eichenberger (both Directors of SolGold Finance AG).

Who are they? What are their specialties etc?

Stas20, in addition to the 3m shares correction, GBP to USD is around 0.74:1 (not 0.8).

So your $4bn becomes about £1 a share based on full NPV of Cascabel. 30%-50% at Pre-FS/FS is 30p-50p.

We've been crunching these numbers for years. 30p, 50p..... all well above where we are now.

Obviously can be much more as progress to production, or bidding tension. But point is management need to progress things otherwise all this is just noise on a social media platform.

Addicknt, re:11:50 post, completely agree.

The realities replacing the on-paper potential.

@Stas20 - Pbow posts more reliable and credible research and analysis than a cumulative 95% of posters on this site.

Even if some of his views are occasionally different to my own, they are always clearly justified.

InvestorPanda however is an absolute fruitcake. Genuine mental health concerns around that individual.

I'm sure Pbow is after a fair price. But that fair price won't be full NPV for a project at pre-FS stage, in Ecuador with the politicial/environmental challenges and substantial risk premium required.

And it terms of spot prices as long-term assumptions in a FS, of course they won't be at that level. Nor do they need to be, to show what a fantastic asset Cascabel is. (Don't forget, we've had higher NPVs in the past. More important, given SOLG isn't a major with loads of operating surplus, the Capex can be managed and de-risking events continue as planned over next 12 months).

@Pbow - don't get frustrated and pull your account. Your research is appreciated. After all, how many others flagged the Ecuador concession tax.

(Typically bad timing from a SOLG perspective, noting it has been deferred).

Unfortunately other posters have no interest in the real-life situation in Ecuador - more exciting to talk about what the takeover premium will be etc.

Addicknt, I expect he is.

The whole conversation would be much easier if it would just refer to NPVs as per the PFS / announcements / sensitivities.

Very difficult to argue with those points Bozi.

I know days can go fast, but I've been very disappointed by slow progress and very limited comms over first 100 days.

Key appointments, drilling and study updates, confirming milestones and ExploreCo on track etc?

Too many times retail investors have thought "it is very quiet, management MUST be working on something amazing in the background'

Get on with it Dan before anyone (and that appears to be very few in the market) loses interest. And before we enter another Summer lull.

All good analysis.

Equally, NAV could be 10-20% lower to reflect inflation and increased cost to build / mining activity. And reduced further for increased cost of a mine redesign, tailings site, hydro, rail to port etc.

Solgold need to release the Feasibility Study to confirm the current NPV / NAV, in line with their current thinking.

I can't help but find the Canada delisting timing interesting if feasibility study would no longer need to comply with NI 43-101 Technical Report standards? (But not an expert)

Dan has been CEO for 100 days now.

Where is that new COO?

Where is the Tandayama drilling update?

Where is the improved comms and engagement with Retail?

Less than 3 weeks to announce the 'definitive plan' for ExploreCo.

For a moment I saw RNS and thought perhaps Dan or others were buying shares. How naive.

Yep, Scott continuing to do his bit to drag down the SP!

Fort,

1) disagree with the chinese TSX argument; I thought irrelevant for a secondary listing

2) agree with concern around losing quarterly updates, poor performance so far, low option prices, a risk senior management prioritise themselves and not all shareholders etc

SP fell c5% yesterday so could well be a large 'sell'.

Short is c18m shares so needs a bit more than c1m of buying.

P.S. Does feel like Dan is focusing on the wrong areas - spending 'pounds' to delist from TSX to save 'pennies'.

No-one cares about the TSX Dan. Get on with drilling Tandayama, completing the FS, progressing regionals (via spin-out or other means).

And get someone in - COO or otherwise - who can plan, set realistic targets, and communicate progress to the market.

Hi Fort

Agreed, and I made that point on 28th May, almost a fortnight after the MD&A had been released. Since the MD&A was light on post reporting date news.

- Tandayama drilling programme was due to commence early May. Has it started? i.e. confirm progress being made

- G Mining Phase 1 was at 74% (end-March); what is the current position and what is outstanding/timescales?

- ESIA still on track for Q3?

- Tailings investigation progress etc. etc.

I suspect the usual wishy-washy dates and missed targets by Solgold.

I'm expecting a glut of news in June though, including above and ExploreCo plans and COO appointment.

Timid - but won't all that potential in ExploreCo have the same challenges you highlight around Cascabel? i.e. environmental impact?

If anything, block cave at Cascabel and green credentials (hydro power, electric mining operation) are one of the positives. The negatives are initial capex and operational risk?

P.S. open-pit mining potential at Tandayama has been talked about for years. Not just when Jiangxi bought more. Haven't there been 40+ holes drilled at TAM (apologies, exact number excapes me).

Timid - so you think after spending $350m+ over 10 years on Cascabel the company is going to sell it for $600m?

Thanks addicknt. Just wary of hearing it all before re: shareholder engagement and more frequent comms etc.

Just like Scott's "culture of non-performance in the corporate office".

I would like to see some more determined action.