Member Info for Timid

Only a LoM extension of 5+ years at Segilola will this stock running.

I took great heart from the additional 3000m of drilling at Baraka 3. This suggests B3 is looking very good and Douta is a monster.

Do the math. imagine Explorco with Nick M at the helm. This is going to end beautifully.

This is interesting

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02966316-6A1272454&v=4a466cc3f899e00730cfbfcd5ab8940c41f474b6

Your answers from Segun beginning at 19 minutes

https://youtu.be/AZzIZAZA8HQ

Last year half year financials were announced on 23 August. So sometime late August we get the news on the dividend (and hopefully a bonus div). At a guess payment late Sept/early Oct.

There was an operational update on 15 July. That will give a good idea on what the numbers should look like.

Anyway, doesn't really matter. Segilola LoM update is much more important followed by Douta PFS at year end.

Pretty grim reading on this channel.

BHP & Newmont will exit SOLG via bid from Jiangxi at ~0.4 NAV. BHP & Newmont will exit Explorco via a selldown during the IPO. I have no idea what Jiangxi will do.

Nick Mather may look to buy the Explorco shares held by BHP & NEM. This would give him control. He is ambitious.

I will look to add to my Explorco holding.

What's it worth? £25m? Raise £25m. MC £50m probably cheap given the size & potential at Povenir. Everything else is free.

If NM is in control he may want to list Explorco on the ASX.

Good luck to everyone.

I'm calculating EPS of around 35c for the year. Realized gold price of $3000oz June qtr, and $3300 for the second half of the year.

Dividend could be anything. 1.25c normal div and 1.25 special div?

Two things: 1. Jiangxi makes a bid after Explorco lists on ASX.; 2. this is made easier by SOLG/Jiangxi having to report to only one regulatory authority, in the UK. That exit from the TSXV will be completed soon.

Newmont is exiting 100%. Half goes to the public and the other half to Wyloo or whoever Twiggy decides.

Scheme Doc.

1.12 Separately, under the lock in and orderly market agreement between the Company and Newmont NOL dated 4 December 2024 (“Lock In and Orderly Market Agreement”) which was entered into in connection with the Acquisition, Newmont NOL agreed to a lock in of 12 months in respect of the GGP Shares which it was issued as part of that acquisition consideration (which, as at the Latest Practicable Date, represents approximately 20.41% of

the issued share capital of the Company). One of the carve outs from this lock in comprises any sales made through the Company’s broker pursuant to or in connection with ASX Admission, subject to the agreement in writing by both parties. Newmont NOL has not, at this stage, sought any formal agreement from the Company to any such sales but it is possible that it may do so prior to Admission. The Company notes that 50% of the GGP Shares held by Newmont NOL are, in any case, subject to a call option in favour of Wyloo, and therefore, subject to certain exceptions, are not capable of being sold whilst that option applies, without Wyloo’s agreement.

10% to Wyloo, 10% to instos.

$A5b MC and six months to get to index weighting.

This is now a bet on the gold (& copper) price not on any premium on ASX listing.

ATB.

NotMuchMoney, etc

I think I have been in & out of this stock longer than anyone except Nick Mather. I think I first bought in 2010 (?).

The problem for BHP & NEM is the environmental impact of open pit mining. China Inc can ignore it but Western companies, especially market leaders, can't avoid the scrutiny of various environment protection groups/NGOs. The reputational damage is too great. Better to go to the desert highlands of Chile, like BHP. Out of sight, out of mind.

It is no coincidence that the decision to investigate open pit mining at Tandayama happened around the same time Jiangxi moved to 12%.

I think there is a win for everyone. NEM can say it wasn't its decision to invest in Solgold. For BHP, its investment is petty cash. Nick Mather is in the biggest trouble but to get control of ExploreCo and get a pile of cash from the sale of his various shareholdings will e a good outcome. He will relish another opportunity in Ecuador and Exploreco's land holdings are not rubbish. Porvenir has real potential.

Ortherncopper: "The theory of Jiangxi chomping at the bit to buy is us nonsense... they could buy us this afternoon if they wanted."

Jiangxi needs to wait until ExploreCo is spun out. I suspect Nick M has made it part of the deal that he gets control. He owns enough SOLG to muddy the waters.

I'd imagine 15p would get a deal done. We get shares in ExploreCo free.

What does "a lot of optionality "mean?

Sabadola-Massawa appears to have a long mine life 15+ years

Barrick sold S-M so can't imagine it is interested.

I think THX will develop Douta. ".... it is looking very positive" exudes confidence.

This is worth a look. I wonder if Segun is on X.

https://x.com/bftd2025/status/1927921513056879072

Anyone know where ExploreCo will be listed? Any chance on ASX?

Is there a timetable published anywhere?

Surely Jiangxi makes a bid once ExploreCo is listed.

Paddy, you have been a believer from near Day 1. But continue to hold. There's more to come. Much, much more.

If SD is Prince of the Paterson you're the King!

Love your work.

"Until March 2027, Jiangxi may provide SolGold with technical consulting services as required, subject to mutual agreement, with respect to the Company's world-class Cascabel Project in Ecuador. Jiangxi will not charge the Company, unless otherwise agreed by the parties, for any of its costs associated with this technical cooperation."

Chief Executive Officer, Dan Vujcic commented:

"As we endeavour to re-shape and streamline the SolGold investment proposition this investment by Jiangxi, at a substantial premium to Monday's closing price, is a powerful endorsement towards the intrinsic value embedded in SolGold."

Spot on Fortisimo. ESG is taken seriously by western companies. BHP & NEM do not need protestors outside their offices getting mainstream media attention.

China Inc? Trying to keep a straight face as they rape & pillage.

If China Inc owns the project all gold goes to China. And that's for generations. Cascabel will have amine life of 50-100 years.

The Jiangxi increase in shareholding to 12% and the decision to investigate an open pit at Tandayama is NOT a coincidence.

BHP is happy to operate in the high Andes in Chile but in the headwaters of the Amazon? So much as changed in the last 15 years. Westerner's attitudes to the environment have shifted dramatically to the left.

So, what impediments remain to a bid by Jiangxi?

I've been in this since discovery. Finally we have and exit!

Jiangxi - bring it on!!!

I 🩷this Rick Rule wisdom: "If you believe in higher gold prices, then buy a lot of gold in the ground, and do absolutely nothing. When the gold price rises, sell that gold in the ground to someone who is going to beneficiate it."

Listen to Segun.

Read the various reports about reserves at various gold prices.

See P.10 of this slide pack. https://thorexpl.com/site/assets/files/2846/thor-explorations-corporate-presentation-22-april-2025-sl.pdf

There's plenty of gold still to be mined at Segilola. Stop tormenting the weak holders!