Member Info for Pbow

Bonker again im not saying that the current share price will determine what we will be sold for. Because if we are sold it will most likely be a year down the line and the share price will no doubt be different. What I am saying is no one is going to bid 30 pence for a company whose share price is 7 pence. If solgold share price recovers to say 15 to 20 pence then of course a bid in excess of 30 pence is possible.

Https://lundinmining.com/news/lundin-mining-and-bhp-to-acquire-filo-and-form-a-5-123162/

When Lundin & BHP bought Filo the announcement stated....

"BHP and Lundin Mining have agreed to jointly acquire Filo for total consideration of approximately C$4.1 billion, or C$33.00 per Filo Share. This represents a premium of 32.2% to Filo’s unaffected 30-day volume weighted average price up to July 11, 2024, and a premium of 12.2% to Filo’s last closing price on the TSX on July 29, 2024."

Fort you are twisting words. "The fact is... making a bid in the 30's when the sp is sub 10's stands far more chance of gaining support than if they waited until the sp recovers to 21p+ and then bang in 30p+ bid."

You clearly said make a bid in the 30's when the sp is sub 10's. When I went to school sub 10's meant less than 10.

Here is when BHP made a bid.... https://www.bhp.com/-/media/documents/investors/2024/240425_response-to-announcement-by-anglo-american.pdf

They state....

"a premium on the implied market value of Anglo American’s unlisted assets2 of approximately 31 per cent;

• a premium on the implied market value of Anglo American’s unlisted assets2 of approximately 78 per cent. to the volume weighted average closing price of Anglo American’s shares (adjusted for the attributable volume weighted average closing prices of Anglo Platinum and Kumba) in

the 90 trading days prior to and including 23 April 2024;"

The above covers what you are saying. But find one that has a weighted average of 90s that gives a 400% premium and Ill fall off my chair.

I was wrong on the election as were most of the polling companies, and the various commentators in the Ecuadorian press. I bet you we wont get a bid in the 30s while we are sub 10p.

RK I said the following

"BHP bidding for Noront isnt relevant as it followed on from a bid by Wyloo Metals, even then it was circa a 100% premium not a circa 400% premium which is what would be required here. I dont doubt that in a bidding war BHP could pay 30 pence or even more - but not an opening bid."

I completely accept that we could (in a bidding war) get 30 plus. Im just saying we wont get an opening bid of 30 pence plus whilst we are at these levels.

You are contradicting yourself.... You say im a numpty because im saying no one will bid in the 30s when the share price is 7p..... Yet in the original post I was replying to saying it wont happen you state the following....

"The fact is... making a bid in the 30's when the sp is sub 10's stands far more chance of gaining support than if they waited until the sp recovers to 21p+ and then bang in 30p+ bid."

How does sub 10's in that post correlate to "and I suspect the sp will mysteriously rise to teens before any bid arises."

Ill rephrase my point BHP will not bid in the 30s when the price is sub 10p because its a) not a charity and b) not stupid.

The company is priced at 7p and its main asset is Cascabel. So ok Cascabel is priced at less than 7p by the market.

BHP bidding for Noront isnt relevant as it followed on from a bid by Wyloo Metals, even then it was circa a 100% premium not a circa 400% premium which is what would be required here. I dont doubt that in a bidding war BHP could pay 30 pence or even more - but not an opening bid.

I dont think any shareholder would want their company - be it BHP or otherwise to make a bid of 400% premium of the current share price because it will be viewed as overpaying.

Fort I dont see how the likes of BHP could sell a bid of 30 pence to its shareholders for an asset that's priced in the 7s.

That aside Im of the opinion that an offer will come when we are a bit further on in the permitting process. Its a lot of money to stump up with no guarantee of getting the license. Maybe the CIPA could help though depending on how its written.

I do agree though that good TAM results could be a bit of a gamechanger on pricing.

Thanks for sharing DBW.

Heya Rodney yes I did.

It was a good RNS. I dont read much into the undervaluation statement as its bloody obvious.

There is no way they will do a revised PFS. I do however look forward to TAM results and the DFS. Im leaning towards buying another 40 to 50 grands worth in the next month.

Stas welcome to the world of Solgold LSE..... it gets very tiresome.

Reed Huppman left in July. Seems that Ash Martin has also left. Both appointed by Scott as part of his Guyana Goldfields reunion.

They are working on the DFS its most likely due at the end of the year / early next year depending on the results of the Tam drilling which is due in circa 6 to 8 weeks.

If its a written transcript jack then its your understanding of the conversation and you hear what you want to hear. I listened to a recording from around the same time and he said different. I trust my hearing more than your understanding given you have demonstrated you are as thick as two short planks.

NNM i think he is deducting 650m (the 100m is not for construction) and then adding a bit for inflation.

Jack at a very similar time you spoke to him someone else spoke to him and ive listened to the recording and he said different to said person. Like most things I think you hear what you want to hear.

In the PFS it was 4 years after license so 2030/2031.

Https://www.bnamericas.com/es/reportajes/solgold-iniciaria-en-2030-produccion-de-proyecto-de-us4200mn-cascabel-en-ecuador production 2030. Now its 2028.... ie accelerated.

And before you start going on about permitting being accelerated (which won't happen) unless you think they are going to just blow up Santa Cecilia and the people living there then it wouldnt make a blind bit of difference if they did.

Because production is much earlier.

For me the share price should be circa 10% to 20% of NPV for cascabel, a bit for Porvenir as well. A take over would be at 25% to 40% both %'ages rising when we get the DFS. But we are where we are and pointless moaning as it doesnt change what is what.

but yes its back of the *** packet stuff and clearly wrong becuase of tam - either tam isnt happening and it gets worse or tam is happening and it gets a lot better.