Member Info for RodneyT

It is important for CEOs to refer more often to shareholders than to stakeholders because shareholders are the legally recognised owners of the company, the providers of hard-earned capital, and the group to whom directors owe primary fiduciary accountability. Unlike stakeholders, who may have an interest in outcomes but do not risk their own capital, shareholders place their money directly at risk and can lose it entirely if management fails. That distinction is fundamental: stakeholder considerations may be valuable, but they are always secondary. Overemphasising stakeholder language risks appearing unanchored or evasive, whereas prioritising shareholder interests reassures markets and regulators that management is aligned with the owners, disciplined in capital allocation, and focused on value creation. Scott Caldwell referred to ‘stakeholders’ much more often than Dan Vujcic does. I am delighted about that change. Vujcic refers to creating value for shareholders.

This is a tremendous improvement!

DV likely to be on his way to Denver at the moment (or there already). Beaver Creek the largest summit of its type in the world and DV representing the company doubtless advised by Canaccord.

So where could things be as of now?

Assays from holes 57, 59, 60 and 61 are pending, with management already calling hole 58 “one of the most robust results we’ve seen at Cascabel”. Strong follow-ups would reinforce that Tandayama can deliver near-surface, high-grade, early cashflow tonnes.

Beaver Creek gathers the largest concentration of mining CEOs, producers, bankers, and institutional investors anywhere. SolGold will showcase new data to precisely the people who drive funding, partnerships, and M&A.

Management is openly highlighting SolGold’s market cap as disconnected from the quality of its copper-gold endowment. Conferences like this are where valuation gaps close fast if majors and funds take notice.

Integration of new drilling into the Feasibility Study is already underway with G Mining Services. That means assay news now directly improves project economics, shortening the line of sight to development decisions.

Precedent matters

Other companies (Filo Mining, Lundin Gold, Adriatic Metals) have dropped key results just before these summits, triggering sharp re-ratings. SolGold has every reason to follow suit.

Summary

We could well be at the start of a coordinated newsflow cycle, assays due, the CEO addressing the world’s most influential mining audience, and feasibility planning being updated in real time.

Exciting time to be a shareholder in Solgold given the crazy low share price versus 164p NAV estimate, the increasing prices of metals and the clear intention of management to drive forward shareholder value. DV refers to 'shareholders' much more often than 'stakeholders'. Good!

Bravo DV and team and good luck at the summit.

NMB, my apologies. It was a great point you made about sensitivity a few weeks back and Stas20 used it well to come to the 164p NAV estimate. Stas20 is still around BTW.

IP can be 'lively' from time to time but his target price for the company is a long held view by him for which he has been mocked and capillaried for ages. It just so happens that his target and the work done by Stas20 and Needagain revealed similar numbers. Mad Jack is not made compared to ideas of 5c per share NAV! 😉

NAB :-) :-) what a vivid imagination you must have! 'Ramping'? The pace and quality of recent developments at Solgold are wonderful facts. That's not ramping, it's referring to reality.

It's an interesting discussion point and revelation. That's all it is. 'Ramping'? No, referring to facts. Have a look at my posts earlier today. If you don't like it that the company is doing so well now, maybe that's because you are short or want to buy in lower? It's great to see DV and team leading so well. I was sceptical initially. Not now. I suggest you try the same.

I am always objective, NAB as all shareholders ought to be. Also, you don't, and never will, speak for me. Concentrate on speaking for yourself. IP's post is interesting to me.

IP,

This post is exactly why I have never said that you are 'mad'! It reads really well. Who knows? Really interesting and thanks for posting. I'm going to have a think about that.

Attendance at Beaver Creek next week by Solgold is uplifting news for Solgold shareholders.

The Precious Metals Summit at Beaver Creek next week is one of the mining industry’s most exclusive and influential investment forums. It is a by invitation only event that brings together a curated mix of senior executives from exploration and development companies, portfolio managers from specialist natural resource funds, sell side analysts and brokers, and key figures from private equity, royalty and streaming firms, and large producers.

It is known for its high quality one on one meetings and off the record conversations that often spark funding deals, farm ins, and merger and acquisition interest. Heavyweights like Pierre Lassonde, Robert Friedland, Frank Giustra, and Jonathan Goodman regularly attend, alongside funds such as Sprott, Franklin Templeton, Orion, BlackRock Natural Resources, and various global family offices.

This year, SolGold is a confirmed presenter, right as its TAM asset is hitting drilling highs and ExploreCo plans are expected.

SolGold’s presence at the Summit could not have come at a better time. With major investors actively looking for underappreciated copper and gold projects, SolGold has the opportunity with this platform to put its story firmly back in front of high conviction capital.

In the short term, just being part of this event will likely boost sentiment.

By showcasing progress at TAM and re emphasising the scale of Cascabel, SolGold can open the door to new capital, strategic partnerships, and perhaps even renewed takeover interest. If management can build on the connections made in Beaver Creek, this summit could mark a real turning point.

For shareholders, the real value may lie in what happens next, whether that is a spin out of ExploreCo, a joint venture to unlock Cascabel, or a serious bid for the company.

Either way, SolGold is far better positioned now than it was just a few months ago. With the right follow through, this could be the beginning of a long overdue re rating.

Pierre Lassonde is the co founder of Franco Nevada, one of the world’s largest and most successful gold royalty and streaming companies and, of course, Solgold’s chief streaming financier. Robert Friedland is the founder of Ivanhoe Mines and a renowned resource entrepreneur known for discovering and developing world class copper and nickel deposits.

Their presence at Beaver Creek signals the calibre of attendees and the level of attention the event attracts from serious long term capital.

Good luck next week DV and team.

I'm sure you are fishing in the right waters.

Alright, IP, alright.

It's a bit sunnier here in London today and I have a sunnier opinion than you. Here's what I'm thinking as of now:

27 July 2025 – Operational Update

TAM drilling confirmed multiple high grade copper gold intervals in initial holes. Fourth drill rig deployed to accelerate infill and step out drilling. Drill program supports Cascabel’s phased development strategy, integrating TAM as a shallow open pit supplement to Alpala's underground block cave.

28 July 2025 – Further Assays Announced

Continuation of strong intercepts reinforced TAM as a low cost high grade starter pit, ideally positioned to generate early project cash flow. Aligned with Cascabel’s Project Execution Plan filed in June.

15 August 2025 – Best Results Yet

Hole TAD 58 returned:

140 m @ 0.92 percent CuEq from 8 m, including

106 m @ 1.10 percent CuEq from 22 m

These are the strongest near surface intercepts in TAM to date.

Drill Results (TAD 57, 59 to 61 etc): Pending assays from late July and early August samples. Expected early to mid September.

Resource Upgrade: Measured and Indicated update from current 5000 m infill. Expected September to October.

Scoping Study: Focused on TAM starter pit economics. Possible September RNS.

JV or Funding or Offtake: Early monetisation of TAM via strategic partner or royalty. Q4 window opens post resource update.

Strategic Significance?

TAM is evolving into:

A low capex high margin open pit, advancing SolGold’s transition to near term copper and gold production.

A financing lever enabling upfront cash flow, streaming or JV opportunities.

A defensive wedge against takeover undervaluation increasing standalone project viability.

This has all happened in the last month or so. That's quite a lot of activity. Rome wasn't built in a day, this looks strong to me and I have no reason to doubt the direction of travel the Board is steering us in. Would be nice to get the drill results and they'll doubtless be arriving soon enough.

Good stuff at Solgold. Not perfect but good stuff. Well done DV and team.

Why is that your opinion IP, please explain? Why would the company want to frustrate small shareholders? Please explain.

Hear, hear Add. A changed named ' hypnotherapist' and actor who, apparently told a lady he could make her bosom larger by hypnotherapy alone! I find him quite sinister actually. :-)

Well, a Green publication would say that, wouldn't it, S?

The Copper needed for the electrification espoused by Greens worldwide has to come from somewhere. Can't have your cheesecake and eat it in this world.

Also, Ecuadorian society needs and wants higher living standards. To afford these, the country needs more revenue which is why successive governments have been so upbeat about Cascabel as well as mining more generally. # Follow the money.

Maybe, Quady, but the share price is still up at the close today by 2.1% since this time last week.

NMM, Facts and opinions both add to the discussion. What detracts from it is when opinions are framed as absolute truth and respect for differing voices is lost.

PBOW, Who are we to say here what could be the best way to accquire Solgold if, indeed, it will be accquired? Are we all international legal, tax and business professionals all in one here? Moreover, are we credible buyers looking for multi-decade resource supply security ourselves? Are we experts in geopolitics and top table dealmakers. No, I don't think we are any of those things. Using the word 'logical' to support your opinion infers that those with other opinions are illogical whereas, in fact, they just have a different opinion and could be right. Who knows? We are all outsiders here. What we know for a fact, for example, is that the share price of the company has gone up over 100% in 2025 year to date. My opinion is that Solgold is an exciting company now with excellent balance sheet, prospects and management.

Your 'logic' PBOW, your 'logic'. NDAs are designed to hold confidential information as just that. Outsiders like us are not meant to know many things even though we are shareholders. RK could be right, Jack could be right, you could be right, for example, on your point about increased costs. I added the increased price of Solgold's underlying assets as well as that only 18% had been included in the PFS in order to present a more balanced picture and one not focused on downside.

In your opinion as an outsider like the rest of us, PBOW, i.e not party to any discussions, minutiae or other critical points of detail which could be vital. As a matter of interest, why do you only now refer to JCC and not in your initial lofty post? RK could well be right. How would any of us know whether he is or isn't? He is certainly not 'absolutely wrong' we don't know that!

PBOW,

Frankly, that is an absurd assumption and highly misleading. First, because none of us know as we are not insiders. Secondly...and far more importantly, surely you know that JCC own over 18% of First Quantum. Being effecctively owned by the PRC authorities, any deal is possible and the debt levels you focus on are irrelevant. Why didn't you mention the JCC link for balanace PBOW?

I've never thought you are 'mad' IP - a bit lively maybe but why not? You have a right to your opinion. I happen to think that your take out price of 150p is close enough to 1 x NAV so why not? It is certainly much closer to any deal price as and when a deal comes than the current share price. Folk who think the NAV of Solgold is 5p are much madder than you! Keep talking IP. You're never boring and bring some fun to this board. Why not?!