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An interesting point HfH.

But serious parties would already be in the dataroom.

We know management don't give a stuff about PI comms anymore.

So why the updated slides? Potential financiers? Future industry presentations? A nice 'glossy' for the Govt when presenting future plans?

I like it.

Regional slides are much improved too - a reminder of the fantastic opportunities.

Plus, importantly:

"Negotiations for investment protection agreement well advanced".

RICH3R - agree, and unfortunately this is what we're left with, with a company with 6 full-time employees!

No investor relations or replies to emails.

I mean, it took them 4+ days to tweet about their own PFS!

I'm not worried about short-term funding.

Should be easy for SOLG to place the CGP shares / placing / another NSR.

The issue is at what cost - shouldn't be any sort of placing at these levels, and another NSR erodes what is already a challenging IRR (on a minimum capex basis).

Simple fact is the market is waiting for a tangible plan for developing (and funding) Cascabel. And SOLG is still keeping the market waiting.

Adieuk32, for the April-22 PFS, SOLG also said they would file the Technical Report NI 43-101 within 45 days (which they did).

Nothing unusual there. 45 days is just the National Instrument filing requirement.

Separately, I asked if you could explain what you meant by:

"Ecuador government have 3 months, from December-23 to approve the development"?

For those wanting the Hannam note, Willem Middlekoop tweeted it earlier today.

Seems positive, that SOLG could retain a similar NPV given inflationary pressure, phased approach and significantly lower capex.

Adieuk32 - can you explain what you mean by:

"Ecuador government have 3 months, from December-23 to approve the development"?

"then Solomon Gold have 6 months to execute the development plan"?

I think you are confusing with the Exploitation Contract. But I've no idea what the '3 months' bit relates to?

Equally, I'm unclear of the significance of filing the Technical Report on SEDAR within 45 days. Surely that is just a formality, PFS financials and details are already disclosed to the market?

I agree you've entered at a bargain price though.

I'd be grateful if anyone could share a link to the updated Hannam note / price target?

Be interested to see their views / risk adjustments.

Adieuk32 - you know a PFS was produced for Cascabel in April 2022?

Agreed, what news? It is just a summary of the PFS.

(With some cherry-picking of which bits of the article to mention)

Hi Dbw.

Would be interested to know who (if anyone) from SOLG has confirmed that. Scott, Christina, Sean Tufford? Because I understood they usually ignore emails?

Or from the Maxit/ex-CGP group?

Hi SharketMare

The Exploitation Contract is expected to be executed before end-June.

Hence I'd expect the revised IPA to be done in parallel. Both because MEM have asked for IPA to align to exploitation contract, and also because SOLG would want an IPA in place when executing the contract.

So IPA to be in place before end-June?

Of course, management find it difficult to provide clear guidance on this!

"Personally, I think on basis of PFS today, Scott is welcome to part of his 30m bonus shares at 17p. But future awards should be zero."

No Fort. Scott hasn't met any of the performance criteria for award of his options. Hence he ISN'T welcome to them.

He needs a SP of minimum 25p. Much higher in reality due to 3yr averages being used, and full entitlement at 35p+

I'm surprised the PFS Addendum / PFS3 STILL doesn't make any allowance for Tandayama?

Why? We have MREs for Tandayama. According to today's RNS:

"The TAM deposit outcrops at the surface, resulting in a low strip ratio, offering an excellent opportunity to provide additional mill feed for up to 7 years and the potential for an earlier start of metal production from an open-cut mining method.

The current evaluation of the TAM deposit is not at a PFS level and is, therefore, not included in the Cascabel Project economics presented above or in the PFS mine plan."

Surely near-surface, early start production is precisely what we need for a lower Capex start-up?

TheItalian - "20-25p target" - careful, you'll get called a deramper!

Out of curiousity, is that target for Cascabel only? I.e. attributing zero value to Porvenir and regionals?

Best wishes.

Fort, re: your reference to Noboa and political wins...

... After the last 18 months I reluctantly feel the days of Cascabel being the poster child for Ecuador mining development have gone.

Look at the progress others (Solaris, Lundin) are making. Solgold don't get many mentions now. The largest concession holder in Ecuador and nothing happening - mothballed.

Not even bothering to attend conferences to sell the Cascabel (and wider exploration) story.

Maybe I'm just ground down - but the 'it will all happen in the next 3-6 months' suggestions are getting tiresome...

... particularly with the current clowns in charge. Who don't seem to know how to set guidance and meet suggested deadlines.

... but it can't last forever Fort.

Clearly the market isn't thinking much is being achieved? And lack of updates/details on progress reinforces that concern.

Redknight just guesses when it is a close period. See his posts from earlier in the year.

The PFS could well still be being worked on, due later in March, in which case Directors would be free to buy now.

(Note: I'm not saying there aren't other strategic discussions restricting director buys, but we don't know).

Some look at Royalty deals as the easy option.

But look at the position Scott has allowed the company to get to: a $50m deal reflects c25% of MCap!

Appears Plan Z of 'crash the SP to encourage a bid' is in full swing.

Slight change in Going Concern statement:

end-Sep: "the Directors expect that future funding will likely be provided by equity investors, debt funding or via other strategic arrangements."

end-Dec: "the Directors expect that future funding will likely be provided by equity investors or via other strategic arrangements."

No surprise at change. And 'strategic' can include Royalty deals etc.