Member Info for RodneyT

Have you been drinking, Needy? Bit early isn't it? Thanks for saying those things, let me correct them for you. Silly Needy, stay sober and show us your best Aussie side. :-)

odney, you've gone from telling us about your secret gang. (nothing secret about it, we've been chatting today and Brigitte just joined. Why don't you ask her now?

The gang who's members hold 10 million shares each (The maximum total was just over 113 million. Likely less now, we are checking. At least 2 members had over 10 million shares each)

The gang who are going to fund your legal costs (No, funding those myself but may ask for contribution from group in due course. Not needed yet)

The gang who are going to influence the solg board. ( Drunken rhubarb? Your words only and clap trap)

To being caught out by Bridget, who has shown what anyone with half a brain already knew. (Oh dear Needy, go ahead and ask her now then say sorry)

That's, you proving what a complete Muppet you are ( Bah humbug, can't debate so always resorts to abuse)

And that your gang was in your head (No, Needy, in your head and annoying you)

Needy, Would you like to make a material contribution to this board such as an article you have found that would be of interest for us all to review? Your compatriot IP did so overnight. Can you come up with something please? I am sure we would all give you credit for doing so.

Hi Bridget, I just replied to an email which I think was from you. Please confirm on here. Thanks

I will let you in today B. Apologies. I will reply this AM without fail.

Stack, I voted No and won't be changing. See my previous post relating to 'acceptance'. I'm not. Also, in addition to your infamous 5p raise projection, you constantly said there would be no bid in 2025 and it would likely be 2027 at the earliest for a bid if at all. This is not over yet Stack whether you like it or not. When it is over, we will see what the result is. But that isn't now Stack however much you wiggle.

Well done ARO. Well done for being on point and objective about where we are in the Scheme right now. A counterbid can come at any stage and thank you for reminding us all of this reality. Those who douse negativity about this are the same who peddle hopelessness and apathy. Nobody knows if a counterbid will come or not. If it does, there could easily be 'no warning'. We had no warning JCC would bid last year. We don't know the endgame here yet. Thanks for reminding us of this. And please vote everyone.

Needy, a very sad reply I must say. I answered all your questions and you ignored that because you didn't think I would. And now you revert to normal lashing out and calling me a liar. Lying about what exactly? solgsmallshareholders@gmail.com is still chatting daily. We did so yesterday and there are doubtless many members here who participated. What IP has shared earlier is interesting. Have you ever come up with something similar to his interesting article Needy? Just one time since you've been here? This is not over yet. Plenty of time for a counter bid to occur. We don't know it will but it can. That it could and that people are voting vexes you so doesn't it Needy? :-)

Needy, keep abusing away please. I know it irritates you that people have made their minds up and most have voted already. They vote No because they don't want the deal to pass. They vote yes because they do and if the latter then many just sell now and get virtually 28p. You're intolerant of folk voting No Needy but can't control them. Is that the reason for all your anger? You need to calm yourself, Needy! :-)

No I haven't Quady but Solgold is not a Chinese company. It is listed in London and covered by TP rules. (see my comments on creeping control, etc)

Quady, For companies covered by TP/TC rules, just that happens whether shareholders and Chinese or not. In any event, chance would be a fine thing. The alternative is to sell Solgold and all of its assets for 28p per share forever. It was easy not to vote for that. Incidentally, today's MS announcement alongside the similar JPM stake appear to be Arb/Event driven holdings in my view. Whilst not impossible, were they accumulating for a potential bidder, a TR1 would likely been issued. Of course, a potential bidder can just make a bid and does not need to accumulate any shares beforehand.

'Lies for attention', Stack? From you? :-) :-) How's the 5p raise going?

10. JCC will install directors, run it down and pick it up cheaply

A large shareholder can seek board influence. They cannot legally engineer value destruction without scrutiny. Directors owe duties to all shareholders and the Takeover Code exists for a reason.The realistic downside is funding pressure leading to a lower future bid, not theatrical sabotage.In the end this is not about morality. It is about probabilities.

28p reflects completion probability and funding risk. The PFS NPV reflects conditional long term economics.

The real question is how much risk shareholders are prepared to carry in exchange for potential upside with shareholders able to sell just under 28p now if they wish to do so.

Of course, Needy, Solgold could always get the CIPA filed and revised PFS sorted. This would open the door to FNO tranche 3 and therefore funding without dilution wouldn't it?

Needy, Here are my answers to your questions. I am happy to be patient to achieve value, I am not focused on quick completion and don't want it.

1. NPV is just what the company could hope for

The roughly $4 billion figure is not new modelling. It is simply the existing PFS NPV re run using the company’s own sensitivity tables at today’s forward PFS metal assumptions, which are about 20% above the original base case. Spot prices are higher still and have not been used.It is the same engineered mine plan, same reserves and same discount rate, just updated price inputs. It remains conditional on execution, as all PFS valuations are. Calling it hope is catchy but technically wrong.

2. The market value is what matters, 28p

28p today reflects the probability of the Scheme completing and cash being received. In live takeovers, shares trade to the bid price, not to intrinsic asset value. That is arbitrage mechanics. It tells you what the market thinks about completion risk. It does not prove 28p equals long term economic value.

3. There is not a scrap of evidence for a counterbid

There is no public evidence. Agreed. There rarely is until someone moves. The flat 28p suggests the market assigns low probability to a pre vote counter. That is a probability judgement, not proof of no strategic interest. The fact is that we are currently in the counterbid window.

4. Who will large shareholders sell to

Right now mainly arbitrage funds. If the Scheme passes everyone gets 28p anyway.

If it fails, large holders are not forced sellers. They can hold, fund, negotiate or wait. Institutions are not obliged to panic.

5. If they sell to JCC where does that leave SolGold

If JCC crosses key thresholds the Takeover Code triggers consequences. They cannot quietly creep to control without obligations. This is a Code governed UK company, not an unregulated junior.

6. It will just sit in mothballs

Large copper assets often sit in optimisation mode while funding paths evolve. That is preserving option value.Not building immediately does not equal economic extinction.

7. What does new management do with no funds

Governance reset. Capital discipline. Strategic engagement. Structured finance discussions. Rebuilding credibility. Capital markets respond to confidence. That alone can materially affect valuation before construction funding is finalised.

8. You once liked this management

Views change as facts change. I have given credit to management for share price performance in 2025 but I do not agree with its decision to commence a SoA

9. How bad would a cash raise be

Potentially dilutive, yes. That is the real risk. But dilution depends on share price and confidence at the time of raising. Tier one copper assets get funded. The debate is about terms, not viability. 28p reflects fear of dilution more than proof of worthlessness

"Highly suggestive", Bozi? I said this according to you:"Merry Christmas to all! I'm delighted with the news and interpret it as the starting gun. If Western businesses let this go for 28p then they might as well pack it in now."

Note the use of 'interpret' i.e. an opinion not a fact. I stick with what I said then and, yes, if 'the West' lets this go for 28p, they may as well pack it in now. DId you think about a visit to Specsavers, Bozi?

What did I say that 'wasn't true' Bozi?

Bozi, do you mean 'true' or 'correct'? One implies am error, the other something far more serious.

We have 10 days to go and I stand by my comments back then. If the collective West do let this go to China for 28p then I personally cannot stop that but have done what I can by voting No. Shareholders must vote and it is easy to do.

Needy,

I have been absolutely clear with my position. I expect the share price to fall if the JCC Scheme is rejected and I have said I don't have an issue with a lower share price as the assets would still be owned. Finance-wise, longer term I think it would be fine for certain shareholders to sell their shares and for the company to move on with its previously stated plans backed by FNO and perhaps a copper stream financing deal. I accept that the optics of certain shareholders selling whilst negotiating development finanacing is unlikely to be easy but the alternative to all this is to sell at 28p which I have voted against. Your fearmongering can be addressed now by those who are persuaded by it because they can sell now at a wafer below 28p. Yet you stream abuse at anyone who declares a No vote. Why are you so frightened of the No vote, Needy? If folk wish to vote For the vote, good luck to them. Who am I to say they are wrong to do so? That does not change the fact that I have voted No. There are 10 days to go for a counterbid to be announced. The market suggests that the odds are against this happening as the current share price suggests completion. But that does not mean to say that a counterbid will not be made. Concerning DV, the share price has increased 300+% under his leadership and I commend him for that. At no stage did I refer to him as a 'demigod' which is a word used by you to frame. So there we have it, 10 days to go and I have voted No. Please vote everyone whichever way you wish to vote. If you wish to vote Yes, you will not be abused by me in doing so. I have voted No for the reasons I have given.

Oh my, Needy!

The lashing out keeps coming from downunder. To be clear, TC rules allow for a counterbid to come at any stage all the way to Sanction. I have never said a counterbid WILL come, I have said it COULD come. The burden of proof is therefore on you that a counterbid WON'T come. Good luck with that Needy :-)

#conservative :-) sorry!

Yes yes yes Needy, your old 'quit now and be happy' message. Did you not reflect that still owning all our assets and have a lower share price (if indeed it is lower) might be preferential to selling our assets forever at 28p a share? Also, there are 11 days left for a counterbid to appear. The company needs no raise to remain going concern for many months hence. It would need a raise to continue developing Cascabel as intended. Many things could happen here during the next 2 weeks or so and it is specious to be so magnanimous suggesting otherwise. Please vote everyone in case you haven't already done so. The higher the turnout rate the better. I have voted No and will not change my vote. I do not want to sell these assets for 28p a share. On a highly concervative basis, this company has a NPV of towards $4 billion now. 28p amounts to about a third of that. I'd rather keep the asset, see large shareholders sell up if they want to, appoint new management and press on.

Does Needy make it up as he goes along with no evidence to back up what he says and is abusive and intolerant as and when he wishes to be? Yes.

You always project away Needy. You are terrified of the No vote and a vote against. Why is that please? The company has money as a going concern for months whether or not the scheme passes. You don't like that do you? Also, the SP may well fall as a consequence or a no but it may not. In any event we still own the assets. SP does not equal value. Oh Needy, please do some reading and try harder. We've only just got started. At least put some effort in.