Member Info for Fortissimo

The PFS itself might not move the dial but it's what the company says next.

Lets face it... you can only do so many PFS's and burn through $85m per year. At what point does it become pointless? So this will be the last PFS on Alpala. Therefore, based on that what are the company going to do next? If they are not going to develop it or derisk it further... what's left for them to do? Exploration of course.... so all they need to do to move the dial is confirm result of strategic review... kick off some exploration and erm... find some cash from somewhere. If they issue those 157m CGP shares on the cheap and some go to their mates or insiders.... I and many will be spitting blood. That will be well out of order. So lets hope they don't do that.

Certainly one to watch espcially when you take into account the other stock that might be on the table soon too. Lets take a look...

1. CGP shares circa 5.5%

2. DGR shares circa 6.8%

3. Newmont shares circa 10.2%

The chinese currently hold circa 6% so we are told. If they were to acquire the above, they would hold 28.5%!!!!

If BHP were to acquire that lot, then they would have 32.6%! And that requires a formal bid.

Bob and co would be in big big trouble if any one entity bagged anywhere near 29% level.

As interest rates drop, financing across mining sector should improve and as some have mentioned and we are witniessing of late, the Middle East money men are beginning to tread on the banks and big miners patches. This is a major headache for the markets and the super majors as the model of squeezing the little miner into submission begins to pale against Saudi's happily piling cash in and taking 10% to 20% stakes. It becomes a lot harder for the super major or banks to squeeze the minnow miners if they have Saudi investmernt etc. Of course... the Saudi's may well just see all as investment op and sell out to the super majors when time is right but it won't be cheap.

The world of finance is changing fast as are the markets. The FTSE and London markets are looking devoid of ideas and poor valuations and lack of interest amongst investors is leading bigger companies to list else where.

The london market used to be great for miners... now it's like a ghost town. You'd think a copper shortage is centuries away when you look at the London market and related companies.

I guess we'll never know as the date on closure not confirmed as reporting info was delayed.

mmm... nothing transparent with SOLG these days and whoever had that short was being as opaque as possible.

Well that's certainly good news or bad news ... depends on how you look at it! Bad news as in we do not have a 15m share buyer as if the short is closed, they no longer need to buy back. The good news is that clearly it was a hedge or related party action imho as they closed the short out as soon as CGP merger had completed and CFO and CEO appointed. Give or take a week.

Very sloppy for them to to notify the market and they should be fined imho. What's the point of disclosure regs if some just bypass it or ignore it.

Just over 2 weeks now till Scott delivers his PFS and the market is giving him a very strong thumbs down right now.

MD&A out soon too so should get a read on cash pile burn albeit some weeks behind.

Nothing wrong with that Tweet. Interestingly they include Porvenir on the map along with Cascabel. We've not heard a bean on porvenir for yonks since the chinese chucked $5m at it.

Eloro,

What if the external team looking over the PFS told Scott/SOLG that their report was 'nearing completion' and that they were on target to deliver it to him before Feb 15th??

Would that fit with the update on Jan 22nd? As ultimately... it is the external team that will looking it over as the market prefers things to be stamped by independents rather than company directors.

BBG, I'm on board with that and have said as much. FWIIW... I think the PFS was sorted long ago and 'have been' waiting on inflation numbers and other stuff to improve. Makes sense. But.. here's the but.... Scott said very categorically just over 6 weeks ago that he would be delivering the PFS in early Q1.

On Dec 14th SOLG said...

Cascabel Update

Given the in-person format of the AGM, SolGold is pleased to provide the following update to all shareholders in advance regarding the Company's world-class Cascabel Project :

• Phased Approach Pre-Feasibility Study Progressing Well - Expected to be released early in the first quarter of 2024.

What you need to realise is that Scott and Bob are losing credibility every day that ticks by now and they deliver no news. That's why the sp is 7p and not 47p+. The market is calling their bluff.

So if they miss mid Q1... then it's more damaging for them and shareholders. If he thought there was a chance of missing early Q1 then he shouldn't have said it!! He didn't need to say it! He could have just stuck to the PFS in Q1.

So bringing it forward raises expectations.... and then to miss then just generates poor sentiment. And that's damaging. And that destruction is down to management alone.

So it does matter. You best drop Scott an email and remind him of his promises.

BBG,

Lets keep it civilised. No need to be personal about it. I'm just going by the official company updates and the last RNS Scott issued was pre AGM and he very cleary stated in a bullish tone that PFS would be ready in EARLY Q1.

So what's your problem with that? Unless you are now saying that Scott was wrong and that he's given false guidance to the market?

End of March would be a big miss on guidance and the corp update issued a few days ago would have been the time to tell the market that PFS was no late Q1. But that didn't happen so all looks on track for Before Feb 15th.

If it's end of March... then that's going to look poor on Scott. But lets face it, he's not had a good 12 months at all has he?

Terrible comms, no Strategic review results to report... no IPA... no reduction in cash burn or cost savings... nothing. Utter shambles since he took over or should I say before 'Bob' took over.

When Scott updated the market via the formal RNS channel in Dec pre AGM, and he said PFS ready for release in early Q1 (eg before Feb 15th) he would have either engaged the external audit consultants prior to writing that RNS or had already had guidance from them to say they would be completed by early Jan... hence he would have factored in some safety overun time as wouldn't want to look a fool to the market by missing a simple forecast.

So, without a doubt... external overview would have been likely underway in Dec if not before.

Tick tock Scott... Q1 is soon to be 33% complete. Mid feb and it will be 50% complete. End of Feb and it's heading into late Q1.

Yes, I imagine Scott is getting quite worried now as with just over 16 days to go before he reveals the product of his last 12 months in control... the market is pricing SOLG stock at multi-year lows.

Manipulation aside, I think Scott and most traders out there would have expected this to be back to 14p levels+ going into the last couple of weeks of the impending PFS and grand reveal of his master plan.

If it's anything like the much heralded website refresh... then we are in big trouble as that looked like it had about 2 days spent on it yet it took 4 months to deliver.

Over 5 million shares traded (not huge but above the norm) and in a usually volatile penny stock, it closes at unchanged.

The odds on that are close to zero but if someone's determined to keep a foot down on SOLG... then that's the kind of closing sp events you can expect. The VWAP should be pretty irrelevant here as any offer/bid should be made on the asset worth not the markets inability to price the share price etc.

Decent volume day for a change. Not sure how the bots are doing it but someone seems able to scopp up over 1m+ today and over 1m+ the other day without the price moving a jot.

Amazing accumulation work by someone - at this rate they could have snaffled around 100m shares from bored or frustrated investors over the last 3 months at sub 8p.

The reality is, some funds or investment firms simply cannot touch SOLG shares even though they might want to because they are not allowed to buy penny stocks. Some have rules on market caps. Some have rules on regional issues and some have rules on governance etc etc. But majority of these firm tend to be blue chip focused only. They invest in commods through Glencore or Anglo or Rio etc. The idea of a reverse split is fine and majority of firms that do it are sub 1p.

SOLG doesn't need these firms to help with liquidity. As we saw with likes of Blackrock and Norges etc ... there is no real barrier to buying SOLG stock for most out there. A reverse split would open the door to other firms that trade only £+ stocks but it's not really worth doing.

What SOLG needs to do is bolster interest in the stock by actually having catalysts underway. That comes from exploration. And as we know... they are not doing exploration... they might be doing minor rock chip stuff... but no serious exploration. And they don't have the cash to do it anyway. The only event that will move the dial here and get the share price moving is one that demonstrates monetisation. It's long overdue now and the market is simply saying to Maxit and Scott... at 7p we think you can't deliver. If the price was 40p+... the market would be saying... well done Scott and Maxit... you've proven that there is a very good chance you'll bring this home. At 50p+ or 60p+ I suspect the market will be saying 'job done'.

Have they had a sniff or a BHP low ball coming??

Lets face it... anyone wanting to take a chape jab at SOLG while they are rock bottom ... the time is now. As I said a month ago or so... the window of opportunity is now and that will close as inflation drops, PFS's are released and risk on assets catch some tail winds after being ignored for last 2 years.

Eloro,

"nearing completion' simply implies it's on track as per guidance given in Dec which cited 'early Q1 24'. If it was no longer 'early Q1' then I think the RNS would have said something along the lines of expecting the PFS to be released toward end of Q1. But they didn't say that. Hence the corp update would have stated if delays were expected and it didn't, so I think you are reading it the wrong way. I think the Corp update was merely confiming that the PFS is imminent as previously guided.

Tick tock Scott... exactly 3 weeks left to hit target of PFS in 'early Q1'.

You simply can't afford to miss that deadline as the market has already lost confidence in your ability to deliver anything solid at all... so time to show them that you are good at setting targets and you deliver on them. That will help build some much needed confidence.

MD&A out soon too so would be great to see how that tailings / water tests went too.

The last RNS was a corporate update so not an ops update. But the latter is much needed especially to support the PFS and of course we all need to know what you are going to do next now that the PFS is done. I do hope you are not going to 'optimise' it further lol!

Nothing personal about it Wildtiger. Just that you stated "Be Patient guys" and "It's a no brainer".

What did you base those two comments and promises upon?

No problem with you being flexible and changing your mind like the wind or based on your short term trading...

4 days have past and you've gone from no brainer, to be patient, to ... bailing out and then citing 4p as next possible level.

I think you can see why folk on here might not take your posts too seriously!

ATB Tiger... you are a trader and as we know... traders get it wrong more times than they get it right. And that's a fact based on IG and other spread betters data. In fact traders on the whole (retail) get 1 call in 3 correct and the rest wrong leaving them nursing a 70% loss in most cases.

As posted by Wildtiger 4 days ago..."Be Patient guys"

wildtiger

Posted in: SOLG

Posts: 1,892

Price: 8.04

No Opinion

16p18 Jan 2024 08:51

14-16p is the short term target. Be patient guys

Well, just over 3 weeks away now so not long to wait at all.

Scott would not have been bold eneough to say 'EARLY Q1' in an RNS on Dec 14th to then go and miss that deadline by months or several weeks. It's clear that they pretty much completed the PFS back in Q3 but are no doubt waiting for lower inflation numbers before putting it to print.