Member Info for Pbow

I think its fair to say that a lot of people (myself included) think the news had leaked to an extent

Https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.lahora.com.ec/economia/por-que-ecuador-podria-ser-la-cuarta-potencia-mundial-en-cobre-20251203-0008.html&ved=2ahUKEwj05t_-76GRAxVFRKQEHVpUJr0QxfQBKAB6BAgLEAE&usg=AOvVaw318OaqtG6KzoNeakE_aZMK

Ive already voted against Scott, as I did in the last two AGMs.

Partrytime https://wp-solgold-2023.s3.ca-central-1.amazonaws.com/media/2025/10/Corporate-Deck-2025-10-31.pdf

Slide 13 - planned catalyst - ie in the future. This presentation is dated October. It details the CIPA..... because we dont have it yet!!!!

Partytime you are wrong.

IPA

AIPA

CIPA

Thats the order. CIPA has been announced but not executed. Its why everyone is waiting for it.

Partrytine Franco have a mortgage in the asset.

The CIPA has not been executed

Exactly that Fort. You would have to go back 100 years.

Fort what doesnt change is that a company that doesnt have the capactiy to build a project doesnt eventually build it. All that changes (hopefully) is what we get out of it through a JV / sale or earn in.

Even with the open cut its huge.

The TFS, the processing plant the electricity etc. Look at the buikd cost of Solaris (though that is clearly a lot deeper so needs more excavation prior to hitting pay dirt).

But you say you listen to what the company says - they say they are going to be building TAM and Alpala at the same time. Drill and blasting the declines at a rate that isnt far off what a TBM might do. It will be incredibly expensive.

Simply put give an example of a company in the last 20 years who have built a project for over 4 billion USD. Im confident you wont find one.

Where have I said that Cascabel is an impossible Project?

Ive not. Ive said its impossible for a company such as solgold to build it that's a completely different discussion.

Ive worked on bigger/ more complex projects (as Contractor/ PMC). But the Employer/ Client didnt have circa 300 employees most of whom seem to be employed making honey and bread.

The Moin Container port was a smaller Project as I say. Mersk struggled and it took many years more to build than planned - this is why a company like solgold cant do it - when something goes wrong they will be done.

I unfiltered Needalife to see what you were replying to Rodney (and have now refiltered him).

He is to an extent correct Ecuador has form for ignoring international law - ie arresting the chap in the Mexican embassy. However, its completely irrelevant. Ecuador is a signatory to the New York convention, as such once the CIPA is in place and it has international arbitration its covered by said convention. That means that any dispute and resulting award would be enforceable outside of Ecuador so there respect to the law is then irrelevant.

You can see an example of what would happen if you read up on Chevron v Ecuador (UNCITRAL, PCA Case No. 2009-23)

When you say "Correct Nick Mather of Solgold and DGR has constantly said since 2015. That we are taking Solgold to production." regarding an article where its talking about a bidding war that's misrepresentation.

Is it 100% impossible for solgold to build the job - no nothing is impossible. But id say its not far off impossible - and starting next year is.

You dont just hire a Civil Engineering firm. You need to build an employer organisation first. You have to create the tender design and tender docs. Could G-Mining do this - possibly.

I would guess it will be built under FIDIC redbook or yellowbook. But you then have to find companies willing / capable to do it (not many). You then have to run the tender. If its red book you have to appoint the designer as well. There is such an incredible amount of risk that I just dont see how a company such as Solgold could possibly manage it, I really dont see how they could possibly meet the requirements of Sub-clause 2.4 - and no one will take the job if that clause is removed. For them to hire people for the job will be incredibly difficult as well. The concept of early procurement blows my mind - they wont be able to get LCs so how will they early procure? The only project I have worked on in Latin America was the Moin Container port built by APM Terminal (they are wholly owned by Mersk) they found it incredibly hard.

"anticipating the role of kingmaker in any bidding war"......

Some misrepresentation there Quady.....

Https://www.miningnews.net/m-a/news-analysis/4524129/dgr-poised-play-kingmaker-looming-solgold-battle

Https://mineriaenlinea.com/2025/12/america-latina-intensifica-procesamiento-de-minerales-criticos-ante-presion-estrategica-de-ee-uu/amp/

https://www.expreso.ec/actualidad/economia/presupuesto-2026-arcom-preve-leve-alza-en-ingresos-pese-la-nueva-tasa-minera-266509.html

To be fair Fort there are also 1.2 billion shares than there was wheb BHP did that purchase.

Elero here is one of Jacks posts day of the bid (and not long before it came in). What is right about it?

Why the timing is explosive for SolGold

You now have a unique convergence:

1. Two U.S. trips (confidential)

2. UAE trip for investment agreements

3. Casa Ecuador promotion centre

4. UAE Development Fund negotiations

5. U.S.–Saudi critical minerals pact (same week as Noboa’s first U.S. trip)

6. USTDA meeting Ecuador Production Minister

7. BHP walks away from Anglo → needs Tier 1 copper

8. BHP-linked SolGold director resigns today

9. SolGold share price up 10%

10. SolGold AGM STILL not announced

11. CIPA due before year-end

12. Takeover window opens Jan–Feb 2026

This is NOT luck.

This is NOT chaos.

This is NOT routine diplomacy.

This is transaction sequencing.

I dont really understand what Jack is supposed to have got right.... he has always said Jiangxi wouldnt bid .... and they did?!?! What's right about that?

I was having a look over the press over lunch. Quite a lot of stuff in the Chinese press about the situation (I have to confess the Chinese stuff is a bit tricky - had to download an app).

What I find surprising though is there is absolutely nothing in the Ecuadorian mainstream press about it - like nothing.