Solgold was spun out of DGR around 2005, and DGR holders then...

Solgold was spun out of DGR around 2005, and DGR holders then received 2 for every 17 shares they held. That probably wasn't much considering how few shares DGR had on issue then.

Since then, DGR, as cornerstone investor, participated in various capital raising initiatives. Along with Nick Mather and himself and Tenstar Holdings. This is how DGR/NM control Solgold. While I have not calculated the exact figure, the cost base for all of their holdings is definitely exceptionally low. A large proportion of their shares, if I recall correctly were the result of convertible notes issued by Solgold to them, and converted on very very favorable terms. Maybe someone can work it out exactly.

DGR will hold the Solgold shares and will be sold when NM considers it appropriate. And how much of that gain will flow to us shareholders is uncertain. Owning DGR isn't the same as owning Solgold.

Pretty sure the sums owing to the Canadian financiers have now been extinguished by the partial repayment of the $13m that DGR lent to Armour Energy.

I think the current outstanding 6.5c options are all directors' options. Again maybe somebody could correct me if I got that wrong. I don't think any of the directors have ever sold any of their shares.

Happy to be corrected.