Member Info for NotMuchMoney

A couple of comments Rodney:

I don't believe share options would come into it. Certainly not Scott's. Options can't be exercised for a change of control (assuming there is this clause in his performance options) when the vote is on accepting any change of control.

Any vote would need to get to 75% (of number of shares voted) rather than 50%? So assuming retail make effort to vote, easier to get to 25% than a majority requirement.

Fort - what duty does SOLG management have to "inform the market"? (Assuming no related-party and no thresholds being crossed).

Daily volume is about 3m - shares - so let's say £250k.

Monthly volume is 60m-ish - so about £5m.

Peanuts.

I suspect posts about small trades and historic issues at Guyana Goldfields reflect the general PI boredom at lack of news and slow progress.

Shock and awe it certainly isn't. But that's where we are unfortunately. Having to focus on derisking Cascabel, no cash for exciting regional exploration, getting the basics done.

I 'trust' Scott in the sense he will know from the Strategic Review activity what the interest is, what the turnkey requirements are for interested parties, and is focusing on getting those complete to enable a decent sale or corporate event.

Nothing against a holder's 'club' at all...

But 60million shares is 2%. It won't make a difference. We are more reliant on the decisions of Nick, Maxit, BHP, NEM. Jiangxi.

Jack/BBG - "Scott has had 24 months to secure funding for Porvenir.

During this time inferior assets have received capital. What about securing a royalty on porvenir Gold Royalty or Wheaton etc."

We have no idea how good Porvenir is. Why was the study stopped after such progress?

In a presentation a year or so ago Scott said Porvenir was "not as good as we hoped". Now, this may mean it is not a Tier 1 , doesn't have the desired open pit potential etc. ... but it could suggest it is not economically viable?

Mining is not as simple as just shovelling ore out the ground. It is cost of development and processing, power, water, logistics and distribution etc. Do Solgold have all access rights etc?

I have no idea on a realistic NPV for Porvenir. Nor does anyone else on this board.

Hi BBG / Jack.

You seem pretty angry with Solgold management. Probably after you burned your bridges due to your recent behaviour.

Suggest you take some time out to reflect.

"Great Close - Bought up to 7.50 by ALGOs...is somebody closing their short in preparation for a bid...?"

What's that redknight1? You've got a T20 you're trying to pump?

[28th Jan - "Had to pay 7.30 for 200k on a T20..."]

I respectfully disagree DBW (which may appear a bit rich, given you spent time with Scott / Nick and I didn't!).

I would have thought Solgold would bite Franco's hand off if they offered a decent streaming deal to progress Porvenir.

It has been sat doing nothing for c2 years.

Mortgaging some assets is better than doing nothing with them. Especially given the lack of funds, and extended timescales for getting Cascabel to turnkey status.

Reminds me of a comment yesterday re: regionals and grassroots. Solgold holding out for a big offer, nothing arriving and left with no progress.

P.S. Is this the company looking at appetite for Retail to support a Retail Offer in near future? For example, raise £10m or £20m to fund regional exploration drilling?

I sense from the RedCloud call that regional funding options appear limited. But does Retail have this spare cash lying around? And if they do, why are they not buying more already at 7p!

Personally, if these funds were ringfenced for specific regional targets, with a short-term timeframe (e.g. 3-6 months), I'd contribute.

Hi RodneyT

Playing catch-up as swamped with work...

Are you requesting these details on behalf of the company? (Sean?) i.e. they would like a way of directly contacting material PIs?

Or just for conversation with like-minded, genuine investors?

Wouldn't SOLG management have these details from the share register? (for example, the targetted letters requesting PI support at previous AGMs). Or is this made more difficult by holdings shown for nominee accounts, not individuals etc.

Thanks.

Many thanks to those who could attend and discussed PI views. Disappointed I couldn't make it.

Potentially the London financing / retail engagement trip is being combined with interviewing / confirming choice of a Chairman?

They have approvals for this. Surprised someone wasn't already lined up and announced by now.

Another potential question for Scott tomorrow.

Redknight's comment of:

"Will consider finance from anyone who is on the list now (presumably the 10 in the dataroom)"

So you think the 10 in the data room includes DGR, Solgold Canada, Nick and Scott himself?!!

Finally watched the webinar.

So it seems the 'Feasibility Study' is now expected to take 12 months. i.e. 2026.

And this may rely on further drilling at TAM, which in turn may change the design again.

What. the. hell. have. Solgold. been. doing. for. the. last. year?

All the Cascabel items outsourced to G Mining. All the regionals on hold; you can smell the desperation for financing or a partner.

I can't make tomorrow due to work commitments. Hope others can ask some probing questions and provide some 'constructive feedback'!

Www.youtube.com/watch?v=p9dZTkwzLLQ

Jerry - if you could pin Scott down on CIPA please (what is holding up ratification), whether on track for next Franco/Osisko milestone payment, and permitting/relationship with Govt.

A few big risks that SOLG have been quiet on:

i the original IPA underinvestment, and whether this is holding up approval (and protections) under CIPA.

ii capital requirements in Q1/Q2 if delays progressing Cascabel and running out of cash before next milestone payment

iii recent speculation about Govt not being happy with permitting timescales / rate of progress

I suspect Scott (or Chris for item ii) will avoid directly answering, but good to try.

Thank you.

On the regionals, I don't believe they are total crap. But Solgold are no longer the only show in town. And Ecuador continues to have challenges.

I know from a reliable source that there was serious interest in regionals and grassroots 4/5 years ago. But rather than accept small / no payments to get someone onboard to help or take the lead planning and funding exploration/drilling, SOLG put a larger value on these than the market were willing to pay. What an oversight to not get 5-10 lower priority regionals progressing, even on a low-chance but low-cost basis.

Other than that Orthern, it was all good?!

As you say, I don't mind lack of charisma. But get the key messages across - factually.

The call was focused on Cascabel and development milestones and outlook. Did it spell out what has actually been achieved, and provide comfort all on track to meet France/Osisko milestones for next payment?

Slightly ironic that today's uneventful RedCloud is on the same day Cornish Metals (where Fawzi Hanano is Chief Development Officer) announced a £28m direct investment from the UK government.

I'm on client calls so unable to attend the redcloud.

How many Q&As were actually answered?

Hi Sharket.

If bringing the team over to meet PIs for a drink is the only reason for the trip - what a waste of time and money, the latter of which SOLG don't have much of. No reason that couldn't be done by a moderated presentation taking questions etc.

I'm 99% sure there are planned conversations with bigger fish. Hence bringing the team, not just Scott.