Member Info for RodneyT

Add, possibly. I am working on some things right now. As soon as I am able to be clearer, please be assured that I will be.

I would. That figure does not relate to the NAV of Cascabel let alone anything else we own.

I note our new shorter as at 3 April. A Hong Kong-based house. Fancy that! Day after the DGR vote, too. Knock me down with a feather :-)

Regretably, I have reason to believe that you could be right, Add.

Following on from the DGR news overnight, I am hoping that the next move is to start drilling as soon as possible at Tandayama. Here is why;

1. Unlock Early Production Potential

The March 4 announcement explicitly mentioned:

“Definition of reserves at Tandayama… for early open cut development and early copper-gold production.”

Starting drilling here signals that SolGold is serious about monetising near-surface resources quickly—a cashflow bridge to Cascabel’s long-term block cave operation.

A gold-rich zone at Tandayama amounts to quicker payback, faster cash flow, smaller capex hurdle.

2. Re-rate Catalyst for the Market

A drill campaign with visible gold potential can:

• Provide near-term news flow and market attention

• Justify a higher valuation ahead of full-scale development

• Potentially unlock streaming or JV deals around a smaller starter pit

For a share with NAV of ~106p and a current price a fraction of that, gold intercepts could trigger significant revaluation.

3. Strategic vs. Jiangxi

A “gold-first” focus at Tandayama would play directly into the hands of:

• Nick Mather, who wants NAV-realisation and no cheap exit to Jiangxi

• Franco-Nevada and Osisko, who are already have a streaming agreement for SolGold’s gold and would support expanding known gold resources

• Retail shareholders, who could benefit from value uplift without giving away control

It reinforces that SolGold can fund itself and stay independent.

4. Technically and Permitting-Ready

The March 4 release confirmed:

• SolGold already has an early works permit in place at Cascabel

• Tandayama is adjacent to Alpala, making it operationally and logistically low-friction

• Drill data could be quickly incorporated into feasibility-stage economics

This is not a speculative drill program—it’s development-aligned, and could feed straight into feasibility and early cashflow modelling.

When Could It Happen?

If SolGold wants to generate momentum in Q2 2025—ahead of ExploreCo, further Jiangxi moves, or an ASX listing discussion—then a Tandayama drilling announcement could come at any time in April or May.

A well-timed announcement could:

• Catch the market off-guard (in a good way)

• Provide leverage in financing discussions

• Signal tactical execution under the new CEO

A sudden announcement of gold drilling at Tandayama would be:

• Technically justified

• Strategically sharp

• Market-moving

• Aligned with Nick Mather’s and retail shareholders’ interests

It would show SolGold is not waiting for a buyer—it’s building a mine.

The DGR Global EGM means Samuel effectively controls DGR. While some see this as insider consolidation, for SolGold shareholders, it’s likely good news.

Why it matters:

• DGR holds a significant stake in SolGold — and was at risk of insolvency.

• Had DGR collapsed, its SolGold shares could have been dumped or scooped up cheaply by players like Jiangxi Copper.

• That could have shifted control of SolGold and diluted long-term retail investor value still further

With the EGM win:

• Mather has stabilised DGR, avoiding a fire sale.

• SolGold’s register remains independent and intact.

• Small shareholders retain exposure to upside from Cascabel and future developments.

In short, this EGM outcome protects SolGold’s independence and keeps long-term value on the table for everyone — not just institutions or predators.

Very grateful to laser, dive and other posters who have done so much to contribute helpful material here. Thank you.

Lots of ifs buts and maybes there. Dentons know a thing or two about the law. In any event we only have opinion in relation to SC. We don't know the facts.

Is unclear as is the position on his options. Here is what Dentons say about NEDs. It is not so simple as saying 'NEDs don't work for the company'.

https://www.dentons.com/en/insights/articles/2023/april/14/employment-status-of-non-executive-directors

I checked that point already with a Chartered Accountant. He might be or he might not be. We don't know for sure at this point.

No, I would not agree. That's not to say I am right, of course.

How do we know he won't benefit from them Add? As a NED, he could still be an employee. Or a special agreement could have been made. We know SC had the options and we don't know for sure that he no longer does.

It's a valid point about the FN/O funding deal. SC and his team also deserve credit for the revised PFS and its conservative nature. On the other hand, the share options granted at lower and lower prices along with the execution terms are SC's to own too.

The gap between SC stepping aside as CEO and the deal being announced was 6 working days. I doubt the new pair had much to do with the transaction.

Chambers & Partners, Fleet Street. They specialise in the line of business and it is all set out on their website. There are 3 exploration licences and 1 exploitation licence.

Well said Red!

Any buyer wants maximum NAV for minimum cost. As existing shareholders, we want as close to NAV as possible and maybe more if more than one party is interested. NAV is just over 100p a share give or take. Even NM and SC could agree on that. Talk about 'fire sales' and 'max 30p' are opinions. Balanced against that are the NAV and the recent comments by the Minister of Mining. The interested parties all focus on Cascabel but we have much more than that. May I remind readers that the Porvenir 1st licence is approved and there are only 4 in total, the last of which is for exploitation. I have no idea why the previous management didn't present this fact in a clear and factual light.

Just your opinion, actually, which yoi are perfectly entitled to. You could be right, you could be wrong.

# Jiang Xi get busy

As of now, just supposing get busy soon in the field doing all types of research work. Have we not considered the scope for a huge conflict of interest bearing in mind it appears that they want to own Cascabel/Solgold? They want to own the NAV at the lowest price. What incentive is there for them to report back all the details on a fantastic new discovery, for example? What does their prime motive appear to be? To own the NAV at the lowest possible price. Why would they want the NAV to increase markedly?

Indeed, Mathersfinger. Let's hope that the new management team a really bold and transparent in sharing news with the market. Not just news going forward but how about sharing good things that have happened already that we might need reminding of or don't even know about? Perhaps we have been told via RNS but are not aware of the importance? Come on Dan! Keep it going.