Member Info for NotMuchMoney

Can't hold onto concessions doing nothing forever.

Some should have been JVd or spun out to progress.

Yes NM and others may want to keep as long as possible or keep for a 'full SOLG' sale. However, who is going to pay a premium for unexplored concessions? Arguably very few, highlighted by the lack of progress during the grassroots JV/sale process a few years ago.

Fortissimo - not sure I agree with "covid and the woes that followed the mining sector" point.

There was actually a decent commodity/mining 'bubble' mid-2020/2021.

Look at the increases in GDXJ over that period - above pre-covid levels.

Also coincided with a period of super-cheap money. Indeed, some posters were highlighting SOLG needed to fund/monetise in that window. Rather than dither. Then Ukraine/inflation, then Ecuador political issues, and we're now here.

Classic redknight...

"people are unable to acknowledge their own shortcomings and loom for anyone to blame but themselves."

then in same post...

"if that scenario happens I will be on hear daily blaming people like you for my losses."

"You can bet that BHP are working overtime behind the scenes both with shareholders and the Ecuadorian government to make life as hard as possible for us."

Indeed SM. The biggest risk - majors highlighting to Govt that SOLG are out of their depth and unlikely to be able to finance/progress.

We need that IPA agreed.

Then a clear, simplified PFS and some progress on financing.

In terms of AFR write-up, CGP and Maxit don't come out smelling of roses do they.

Shame, because they have been the guys in charge over last 12 months.

No wonder the cameras will be off at the AGM...

Wow. Who needs the Jerry Springer Show when you have the Solgold board.

I had thought the DC situation had been resolved quietly via employment tribunal? DC either holds a grudge and wants more, or destabilising on behalf of others?

I never had an issue with DC (other than the failed fund raise, which is unclear precisely what took place and who to blame).

The 'Plan A begets Plan B' approach seemed decent to me. He came in with some decent planning and organisation skills, with a roadmap to Cascabel and Porvenir PFSs...

...whilst importantly continuing to develop the regionals.

The CGP-led 'sale at all costs' approach, with hindsight, has left SOLG very exposed. Appreciate the economic and political uncertainty over 2023 but still, don't leave SOLG so exposed.

P.S. interesting that independents also (in addition to some PIs on here) took exception to Scott's pay and option awards.

Addicknt - re: voting rights I've never got clarity.

Anyhow, going to stop posting now, as whenever I post the price seems to drop.

Hi addicknt, they aren't Treasury.

11 May RNS states no Treasury shares held.

They are held in a subsidiary - Solgold Canada inc.

DBW - when you say "in the company’s hands" this is the same company that has materially delayed (Alpala) and cancelled (Porvenir) previous PFSs?

I'm not suggesting SOLG will miss Q1 for PFS3. Mainly because they aren't doing much else. But I don't think completely unreasonable for others to flag the risk of SOLG pivoting and changing the plan again in Q1?

Hi Bozi, agreed. What I was trying to highlight was that I consider IPA to be more a significant event than another PFS.

I wouldn't however assume that SOLG is doing a great job on IPA. They have, depending on view, either over-committed spend at Cascabel when signing IPA, OR grossly under-developed and underspent.

I know an addendum has been proposed and discussed for a long while - but another obstacle SOLG appear to have put in front of themselves.

DBW - PFS is a secondary milestone.

Revised IPA is due first. How many times have the company said this is anticipated during 2023; a 'good chance' this would land before Lasso left I think Scott messaged to you (or another PI).

We're still waiting.

I know SharketMare flags this, but this is key to reassure the market, and potential partners/buyers, we have a fully supportive Govt that want Cascabel built. (And built fast, not just drifting on further studies and phased approaches).

Hi DBW

I find that comment from Bob VERY odd:

- he'll know volumes are low and hence even a 0.5% short could easily be used to drive price down

- it would frankly take him 30secs to check the UK-listed shorts, given London is primary listing

His comment may explain why a Canadian company put the short on the UK listing...

... but to say "I don't know anything about..." - I'd flipping hope Maxit know that XIB are shorting SOLG!

Current MCap is c50% of historic capitalised exploration and evaluation expenditure.

I think the Lassonde curve underestimates the size of the trough from Feasibility to Development!

The question is, what do XIB 'know' that caused them to open their short and keep pushing down at these levels?

A dangerous game to keep open at 7.5p given the SR and potential upside.

What a ridiculous year.

Quady - SOLG are never that specific; where have they said 5 remain interested?

The only related statements I can recall are from 25 Oct update:

"Over 20 active CAs in place with over 5 site visits already conducted"

"and over 5 groups have already completed site visits with a number of follow-up visits being scheduled"

So:

- "over 5" means more than 5

- 20 confidentiality agreements remain active, so no idea how many of these are still interested

Smickster - FCA data with today's date shows it at 0.5%?

BBG - I think you are misunderstanding Enterprise Value.

It just adjusts MCap for existing debt/cash resources etc.

It DOES NOT reflect a value of in ground resources ($100bn+).

A Discounted Cashflow basis has two key parts:

i) a discount rate - to reflect cost of funding/interest as well as any risk premium - i.e. additional return due to riskiness by country

ii) cashflows, i.e. projected revenues to discount back - sales less expenses, as modelled under mine production profile and grades

How do you get to an EV of $3bn?

Www.fca.org.uk/publication/data/short-positions-daily-update.xlsx

Still showing open at 0.5%.

Also as a shareholder I would expect to be able to see a list of all concessions held (original SOLG + new CGP)...

... which are the priorities, which are in the development pipeline and which are grassroots etc.

I notice c$4m of exploration expenditure was written off in 2023 for 'concessions that were surrendered'.

Where, and why?

Constant guesswork at the moment.

From MD&A, covering June-22 to June-23:

Cascabel c$30m

Regionals c$16m

All very well having these incredible concessions. A reason lots have invested here. But do something with them - a paultry $16m over a year shows how little has been progressed...

... hence the 'recycled' RNSs with previous drilling or rock sample results.