Member Info for RodneyT

Well done, Quady. Good to read that. Good for you to advise of this. I fell asleep at the wheel and totalled my car three years ago. Nobody hurt and I walked away uninjured. The insurance company were rats and paid me a pittance.

Quady,

'surely'? possibly, Quady, possibly. No, I'll stay with Stas20's figures thank you. It made me chuckle a while back when you referred to Solgold NAV as 5c a share :-)

Great prospects here. Clear plan to production, TAM results expected soon that our CEO has been pleased about so far and could result in a paradigm shift for the better and all the while an excellent target for potential bidders. Great work by DV and team. Would love to hear from PS over the coming days. He's been quiet for a while and I am sure he has plenty to say. Terrific to have such a good Chairman.

Quady

Stas20 did well with his NAV estimate and I'll stick with that thanks. He showed workings and explained to you why you were mistaken in your approach.

As per IP, I haven't seen him try to cancel folk. He's certainty quite lively and I know many here turn on him but I think it's important to remember this is a discussion board so we need discussion and debate. Group think/speak seems a bit Orwellian to me. Good to see a wide range of opinions. We're all outsiders here and don't REALLY know what's going on within the company day to day, do we?

Well done IP and thanks for sharing. I've always enjoyed your posts and you bring some fun to this board. I know you can be a bit lively from time to time but that's you and that's absolutely fine as far as I am concerned. You were the first to refer to a credible SP of 150p in future. Stas20 then backed you on that as others have done since.

Notwithstanding anything else, I sense you truly believe in this company, the interests of shareholders like us and the genuine potential for the share price to soar in value.

Keep posting IP and I hope you had an excellent lunch with NM. I particularly enjoyed your comment that you talked about pretty much everything else other than Solgold. Really good. I suspect you both didn't think speaking about Solgold was the best use of the time you had in that you both know this is an excellent company with an outstanding management team. Keep talking IP, keep ranting, keep us all smiling a bit! ;-)

Needy,

In professional firms, some partners and more partners than other partners. Newly appointed salaried partners are referred to as partners but the reality is that they have little to no power compared to founding partners with lots of equity. Sure, you and I can buy a few shares at 17p or so. If we want to buy the whole company, not a chance at anywhere near that level. How much would it take? My opinion is to start with estimated NAV (164p) and then think about things from there given all the derisking, permits and so forth. Even at this stage as of now, I think it would take at least 100p to be a successful bidder but even that might not be enough, particularly if things become competitive amongst interested parties.

Could be Fort and would make sense. Look how Ruffer has recently invested in Kefi Gold? Ruffer is an outstanding investment house with a top reputation for good performance and low volatility for over 30 years. It caught my eye that a manager like this invested in Kefi which only has a market cap of about £80m. Ruffer manage about £20 bn. If the quality is good and prospects sound, they will come. Exciting times for Solgold.

Terrific to see such a strong day with over 10 million shares traded based on an SP in the 16's at the beginning of the day. No news so far but I think both new and established investors are now connecting really well to the management of this company and its goals. I'll be looking at the value of buys and sells later. Likely similar to when we were in the 6's and 7's trading 20 to 30m. Terrific stuff DV and with a presentation to come later.

Mmm...I was thinking earlier on that a strong RNS just after the close would give DV a real spring in his step when he stands up to speak later. He was excited with the TAM results and we know these have scope to be transformational. So exciting to see this company moving on briskly!

Is a great company with excellent management. Right place, right time is now. Well done DV and team and good luck with presentation later today.

Since the PFS was distributed, the Company has been very active at TAM and will know far more about it now compared to then. You can use all the nasty words you like, PBOW. I won't respond in kind. I stick with my list. I stick with my statement that TAM can be an uneconomic mine and can still be very useful to the company due to other uses for waste rock. This is not at all unprecedented. So we disagree then. Of course it does not matter because whatever will happen at the company will happen. It's so sad how you resort to unpleasantness nowadays. I was shocked how you disrespected Stas 20. It seems that's what happens when people disagree with you. Didn't used to be that way. What's changed? The company is doing really well. Surely that's the main thing. Anyway, I'll say no more on this topic. We disagree. You have a right to your view and I do to mine. Hopefully the old PBOW will return in due course.

When was the PFS produced, PBOW? What has happened at TAM since then?

I'm happy to disagree with you. It doesn't matter in the bigger picture of things. You seem such a different person on your return. Just when the company is doing so well, you seem to angry. I am sorry about that. Perhaps developments next week might cheer you up?

PBOW,

TAM does not have to be a profitable mine for it to be extremely valuable to Solgold. This is not unprecedented and would not represent anything 'new'. My opinion, however, is that TAM will be profitable. Actually, I think it could be very good indeed. Next week is likely to be exciting. That's the main thing.

Hi All,

Just back and great to see such a strong day for the share price. Next week is likely to be exciting as well so let's see what happens. I said that I would come up with a few examples of other mines where profitability of secondary mines, per se, wasn't the priority and waste rock to be used in connection with the main mine and/or TSF was. Here are some for your review. Really happy with progress at Solgold. So good to have an excellent management team now. Have a great weekend, all.

Cadia (Newmont)

Main ore body is Cadia East panel cave. Satellite was Cadia Hill open pit. The pit itself was approved for in-pit tailings disposal. Waste rock dumps at site provided the engineered rockfill for the embankments of the Southern and Northern TSFs which are essential for the life of the cave. Rock volumes included more than 266 Mt in the South WRD and more than 30 Mt in the North WRD. First TSF stages were completed in 1998 and 2001 and have since been progressively raised. The open pit’s economics were not the driver. The cave was the engine and the pit waste rock made the tailings system possible.

Northparkes (CMOC)

Main ore bodies are the E48 and E26 block caves. Satellites are small open pits such as E44 and E28NE. Planning documents show waste rock from the new open cuts will be used for tailings facility embankment construction. Additional TSF capacity is explicitly linked to these pits. Rock sources are within 300 metres of haul routes, minimising costs. The cave orebodies are the prize while the open pits provide nearby rock that reduces TSF build costs.

Oyu Tolgoi (Rio Tinto)

Main ore body is the Hugo North underground block cave. Satellite is the Oyut open pit. A downstream raised TSF of about 2 km on each side serves the complex. The open pit started production in 2012 while the cave was under development. Waste segregation is designed so that non acid forming rock from surface works is used for TSF embankment construction and encapsulation. The open pit was never solely about value but rather about rock, haulage and early site infrastructure that enable the cave’s tailings footprint.

Red Chris (Newmont)

Main ore body is a block cave currently under development. The satellite is the existing open pit. The transition plan calls for re-purposing the open pit as a waste and development rock storage facility. The Tailings Impoundment Area uses annual centreline embankment raises built from rockfill shells. The pit provides proximity and capacity for the underground development rock and waste to be used in TSF construction. The main cave will deliver the returns while the open pit is the enabler of tailings and infrastructure.

This shows that in each case the company optimised for rock logistics and TSF geometry rather than the net present value of the satellite pit. The smaller body was an enabler for the cave, not the centre of the economic model. Cascabel and Tandayama follow the same logic but I suspect TAM will be

PBOW,

Shout as much as you like, I will provide evidence for what I stated tomorrow evening. If I cannot, I will apologise. In the meantime, Stas20 made you a clear offer. Will you accept?

PBOW, It is so sad to see how rude and disrespectful you have become on your return. Whatever your problem is, I am sorry. You don't speak for me PBOW. I have made my statement and have said that I will provide evidence tomorrow. In the meantime, how about picking up and easy £5k taking up Stas20's offer? Either that or apologise for being so rude about him.

I'll prove my point tomorrow evening PBOW. No time until then. I wouldn't say what I said without back up evidence. To be clear: many miners are indeed quite happy making a loss on certain production on their acreage because the waste rock is very valuable elsewhere to them.

PBOW,

I pointed out to you many weeks ago that several producers use loss-making production areas within their property purely to use waste rock for other purposes such as a TSF. With this in mind, great results at TAM would be an excellent bonus (but they are not essential).

The good news now is that DV is clearly excited and confident about progress. I am sorry that you are not. Also, I really don't understand why you have come back with this demeanour. You don't appear to be yourself at all. What's happened?

NAB,

Why would Stas20 lie and what benefit would doing so bring? Is there any previous evidence that shows Stas20 lying here? Anyway, enjoy your dinner!

Stas20,

"I see the undervaluation as gross and wanted to help fellow shareholders. "

For what it's worth, I have always found your posts as designed to assist all shareholders understand the company and investment opportunity more than they did prior to reading them. PBOW has come up with some interesting observations too which is why I was so disappointed that he returned to the board in the way he did. I'm sure he chose the wrong word in haste and hope he decides to apologise. Best choice for all in my view.

IP, agree with you that the focus at this moment has to be on what DV just said as CEO and the ramifications of this for us as shareholders. Personally, I am excited about what will happen next week. He seemed very comfortable with progress and what will be announced next week. This and the other references he made demonstrated (to me at least) a company progressing strongly under the management of a skillful CEO and team. Excellent stuff.