Member Info for Pbow

The NAV figures were pure fantasy. They took the upside of the metal prices and ignored the downside of the capex and opex increases (which are clearly substantial).

Im afraid Rodney I think the solgold story will be ending Q1 next year (I expect the chinese are better at keeping to deadlines than Solgold have been).

I was hoping for an exit point starting with a 4 but it wasnt to be. I know you hung your hat mutliple times on some fantasy NAV figure but it was simply that fantasy. You took all the good parts but ignored the bad parts. The capital and opex cost of the project would have gone through the roof and would have been shown in any new PFS / DFS.

Of course there is a chance of a white knight coming in - but i would say there is more chance of me winning the lottery next year.

Its a shame in may ways that this story may end soon. Some very positive political news in Ecuador at the moment which we might not benefit from.

TomTee he is about to commence the breakdown of all breakdowns.

Whereas im disappointed that I havent done as well as I hoped (most likely) out of this share.... Jack will be inconsolable. Its been his life for years.

I agreed with you Jack you have been here more than 10 months......

Killjoy IP has been here for a lot longer than 10 months but under the name of ByronBayGold. He deleted his account during one of his breakdowns.

NNM I thought the first one was a stinker at the time and remain of that view. I think we would have been better doing one more raise with the majors and then go for the streams. Anyway its water under the bridge.

Im holding all my shares. 4 outcomes at the moment.

1) 28p bid comes

2) a slightly improved offer comes

3) a bidding war happens.

4) no bid.

If 4 happens then the price will drop like a stone. If any of 1 2 or 3 happens the share price increases. I think 4 is the least likely so ill continue to hold.

You have to remember its not an Ecuadorian company being bought Fort.

If memory serves the Osisko Royalty Agreement buyback was a third not 50%. The other two were 50% though. The first one was the real stinker by the way.

As to do the Ecuadorian government need to approve the purchase my understanding that unless the Chinese are stupid the Ecuadorian government doesnt need to approve.

Saying that if they bought solgold now they could buy some of that cream back. All three had buy backs for elements of it.

I read an interesting article which included solgold and solaris the other week. Seems Solaris is next on the auction block,

I dont believe its to spite Mather.... but his actions took some of the cream away which may lead them to no longer want to proceed. It certainly changed their approach with the company at any rate.

No signs that the tax is being dropped but i think it will. There was a news piece ridiculing it in the the press a week ago.

Solgold havent returned any concessions - they have started the process for some but it takes a year.

The guy who brought in the tax is no longer in the government. Maybe they are seeing sense.

I think its a major contributor Add.

Https://www.reporteminero.cl/noticia/noticias/2025/12/solgold-oferta-jiangxi-copper-cascabel-ecuador-mercado-del-cobre

https://www.expreso.ec/actualidad/economia/ecuador-nuevo-pago-de-tasa-minera-en-enero-de-2026-vuelve-preocupar-al-sector-267855.html

Let me stress Rodney I hope im wrong!!!

To be fair Stack I do think on the balance of probabilities its over at 28p. Its been a fun journey and ill enjoy the AGM.

Ive had chatgpt do a search on chinese reporting on the bid. Generally all saying bid has been made. Subject to authority clearance (in china) and they have applied for it. Nothing suggesting alternative bids etc.

Ive booked flights to attend the AGM. If you have questions to be asked list them.

Im of the opinion that the costs of the project have blown up leaving them in a bind. The PFS says 100k litres of diesel a day when in production - with the price of diesel being increased so much that on its own is a blow. The mining tax.... uncertainty following Loma Largo....

Anyway it could have been worse!