Member Info for Fortissimo

Mog, might be the left overs from BSC? We had circa 25m chunk bought at time when BSC were publically selling down and I thought at the time that someone like Maxit or another has taken the stock on and then gone about an orderly sale albeit in the low 8's. By my accounts, BSC did not have excessive amounts of stock and most should have been washed through by now. The volume of late suggests 'another' seller. No idea who it can be ...could be Norges?

But that's the main reason we are down here in teh 8's ... simply because there are some big sellers out there that have lost confidence in the current BoD's and are exiting. Often fund managers run YoY with funds rather than April to April, so some funds will sell down loss making stocks to offset profits others if latter solid. Helps them start slate fresh in 2024. So could be a few funds selling SOLG over next 2 weeks.

Share price at it's lowest for years and management look very weak going into this AGM. I thought they would come out fighting but looks like they have zero to deliver. They seem tired and worn down and we need some new blood for sure. We also need to get back to exploring and under Scott, that's not likely.

Bozi, not sure how you arrived at that? You suggestion of waiting until end of Q1 and reassess is laughable! What are you going to reassess?? How do you think the Auditors would like it if you when the accounts are done and they ask you the 'going concern' question and you answer... welll... erm... we might not have enough cash to see us through to H2 but we'll just see how we go until April??? mmm I think they'd tell you that you nuts.

At present, SOLG likely have sub $20m in cash. They have $6m licence commitments coming up in 2024. That leaves about $14m for day to day and apparent ENSA PFS work. That's not going last much past Q1.

It's the upcoming accounst that need to be signed off and they'll need a raise or finance before that IMHO which would be around Feb time at latest.

Bozi, royalty deals are in best interests of shareholders when sp is at 8p. You can either do $50m at 8p = 500m+ shares or 15% of shares vs a $50m royalty via Osisko or another that gives an opportunity to buy back half.

Another $50m royalty is not exactly going to write ENSA off is it? But 15% dilution at 8p would be a shambles.

BBG... any royalty deals are ring fenced to ENSA. So if you want exploration, it needs an equity raise or a JV farm deal which carries us for x amount of holes or metres.

Best scenario imho would be to sell Porvenir for $200m+ (that's a bargain) and use those funds to finance everything else. 157m CGP shares would raise a pony £12m right now at 8p. But that would be enough to fund a sizable exploration campaign in 2024. How those shares are sold and how that cash is used is open to debate as some might say that the cash should not be used for ENSA and instead used purely for exploration.

DBW, agreed... got to start somewhere. If this was an RNS from an AIM minnow like EEE or others, it would put on £50m+. Instead, SP is struggling to notch up £10m advance on cap. But lets not worry too much as the sp would be moving faster north if we had 4 or 5 1000m high grade drill cores to report. Wonder whether Scott and co are suddenly waking up to the Mather strategy? Had they adopted that earlier, we might be 40p+ right now and ENSA could tick along for as long as it takes... who cares etc etc. Instead, the CGP boys put all their eggs in one basket and then dropped the basket by looks of things.

Anyways... enough of those guys... soon be some fresh blood and impetus back driving this business forwards.

What is very exciting about today's news is that the smaples are circa 10km's from Alpala. And what's even better... is they have nothing to do with ENSA. It's under the Ecuadorian subsidiary, Carnegie Ridge Resources S.A.

Just imagine... if the are joined? Literally one large spine/belt running all the way down. Yum yum!

Bianca might turn out to be the real 'core'. The real 'low hanging fruit' core that NCM thought was out there and wanted SOLG to continue searching for it.

With Bianca (it's early days but lets get excited).. Tandy (open pit shallow and cheap to mine) and then Porvenir... these are all potentially solid mines which are much easier to finance or partner up on as lower capex and lower risk.

The time to fully test these was 'the last 12 months' as they would have offered support to the SP. And lets face it, it would have cost less than $20m to knock out 5 to 6 holes across all of them.

Missed opportunities.... and now with an SP of 8p... we are hugely handicapped, cash pile dwindling and looking like we won't be raising very much cash from those 157m shares.

Bianca looks great... unfortunately due to Scott and Bob et al... they've left us with Ricky.

Mid to long term holders will remember what Porvenir Hole 1 did for the share price. We flew to 44p ranges within days from low 20's.

Just imagine how the share price would fly if we knocked out a few 1000m holes at Bianca?? It only costs roughly $300k to $500k per hole dependent on drill pad locations of course. For $3m we could have 6 or even 10 holes drilled between Jan and March.

Rcgl2,

Perhaps restarting exploration was a condition set by BHP and Newmont?? Perhaps they said.... get exploration moving again and we'll vote for you and give you some slack.

The irony is... the recent RNS is all about ENSA indirectly as it's potentially a bolt on to Alpala/North Ecuador. I'm sure Noboa will be excited too as he holds a stake in the block next door.

Most super majors just want to see the minnows doing the early exploration work. It's how they like it.

SOLGOLD came back to life today with that RNS. Exploration is the lifeblood and what excites people. Scott perhaps now realising his error and realising that he took the helm of an 'exploration' company not a development company yet he's run it as neither.

So perhaps SOLGOLD's return to exploration (date pending lol!) is all about buying votes or all about realising what shareholders really want.... which is kinda the same thing.

Of course he can't stay as a CEO. What an absurd idea. So shareholders vote him down as a director and the company then think it's a good idea to keep him as CEO?? I think some of you need to remember who owns the company? It's not the CGP boys, it's ALL shareholders. And if or when Scott loses the director vote, that's a unaminous vote on his inability as CEO.

Some of you on here are living in another world.

No CEO continues in his or her post after being booted from the board. End of!

Now, lets get Mather back in and get back to exploring again as those rock chips are very exciting. We've barely scratched the surface. Don't listen to Scott and co... ... we are not doing any exploration... who does he think he is!!?? We are an exploration company... so move along Scott and let us shareholders get on with proving up our amazing folio while your mate Bob tries to muster the power to rediscover his swing timing on ENSA

SharketMare,

Mather is an exploration man through and through. It's what he believes in most. So I'm afraid... while he has to say he is supportive of Scott (if he didn't then it wouldn't send good message to market would it) he most certainly is not supportive of someone that stops shareholders seeing the exploration fruits born out of the extensive folio.

Scott is the reason why you have been starved of anything remotely exciting in terms of news. Wake up!

Love it. Is this Mather's message to shareholders on the state of SOLG towers lol!

Boiling Zone indeed. Scott is toast.

What CEO tells the market that we are not a developer but an explorer and then moth balls exploring when you have these kind of licence blocks in your folio!!!

Oh dear... time for some exploration... oh... but Scott... are we allowed to drill ?? Ermmm.... err NO. We need to consevre cash and stay below 8p for a bit longer until we can get those 157m shares placed to some folk I know.

"SM, I think it's more likely to be aimed at bolstering Caldwell's position in advance of the AGM."

Addicknt, uoi couldn't be more wrong. Look who's name is all over it. Rememeber it is Scott who mothballed the exploration. It's Scott who has prevented this news from hitting the wires. Just imagine where we could be now had we explored it over the last year!!

This spanks of 'life' after Scott. Thank goodness, SOLG are seeing the light and realising that the market needs to see SOLG exploring again.

Vote for Mather, vote Scott down and we'll be back on track again after this woeful 12 months under the inept CGP boys.

Yes, Gold popular at present and copper likely to be a stunning performer over next 2 to 5 years.

SOLG's new website front's SOLG as "A Strategic Opportunity In Copper". Intro mentions copper 5 or 6 more times. Mentions Gold just twice.

The interested parties in the data room will be well aware of the exciting metal mix at Alpala. It's a great basket.

The irony on the new reduced phased approach on Alpala is that phase 1 (low hanging fruit) production and capex is likely going to knock out similar profits to a moderate sized Porvenir mine. The key difference being that Porvenir is located to a major south ecuadorian mining hub.

Mmm... I said 18 months ago that I thought Porvenir might be producing ahead of Alpala.

Porvenir (imho) is worth double our current market cap with ease. Which just leaves the minor detail for the market of pricing in a Tier1 asset. They usually start at £3bln.

From Dec 2021 RNS...

"Since the effective date (26 October 2021), a further 1,501.3m of drilling has been completed at the CAC deposit for a current total of 20,137m in 25 drill holes, with drill hole 26 currently underway utilising one diamond drilling rig. Assay results from Holes 22-26 at CAC are pending. Two diamond drill rigs are operating at nearby mineralised targets at Mula Muerta (Mula Muerta and Viño targets), which lie approximately 1km west of the Cacharposa deposit. "END.

So Hole 26 was underway 2 years ago and Assays were already pending on 22 to 25. Hole 26 and 27 take up the additional 1000m's drilled.

So the RNS by SOLG on Friday was virtually 2 years late. You really couldn't make it up!

Not only that, but where are the results on Mula Muerta and Vino targets???

I repeat... why did it take SOLG nearly 2 years to tell shareholders about assays from 22-26?

Hole 26 was 'material' news so tut tut ... SOLG. Now where's the data on Mula and Vino or did that those two diamond rigs disappear like the $4m??

I think the question that needs to be asked is when were the holes 21 to 27 drilled? My guess is that they were drilled before the merger completed so likely sometime in late 2021 or 2022 H1.

The question then arises of 'when were the assays done' on these holes? The question then arises...'when was that information known'?

Whilst bulk of the holes are average at best, hole 26 is actually pretty significant. It's not in the class of Hole 1 but it's still pretty damn good!

The assays will be dated so should be easy enough to find out from SOLG.

As many on here are aware, all key information needs communicating to shareholders and that becomes especially important when doing deals with partners who are privy to inside information.

So either we are about to learn of a deal on Porvenir (likely with chinese) or, someone somewhere highlighted to SOLG the legal obligations on RNS's and sharing key information with markets and shareholders. Hole 26 certainly justifies an RNS.

Perhaps the chinese want a deal on Porvenir first before risking a bid on ENSA as if the latter results in a bid war for entirety of SOLG, then at the very least they walk away with Porvenir?? So securing their interests, managing risks of being gazumped.

My assumptions of course. But my guess is that Porvenir holes 21 to 27 were drilled yonks ago and SOLG really should have dated them rather than imply this is 'drilling activity' by current management team.

The common denominator between SOLG and Porvenir is of course the Chinese partners. The ones that invested $5m directly into SOLG but ring fenced for spend on Porvenir only.

I wonder if the common denominator will stretch to Alpala?

One thing is sure, the chinese may well be 'still' very interested in Porvenir and why wouldn't they be? It's perfect size for them and situation near other assets/mines they hold or part operate in south Ecuador.

So that's my Chinese takeaway for the weekend.

Well that depends on how it is communicated. The market will get excited if management get excited and that RNS is about exciting as a brick in the head.

One can only assume that SOLG 'had' to complete some drilling to maintain the licence or retain it... something along those lines. Scott... we were told yonks ago (over a year) that MRE2 was almost ready. It's been almost 2 years... it's gathering dust and the market has forgotten all about it. Still if it ticks some declaration boxes before a partner deal then that's a cracking profunctory RNS. Something needs to be signed... either a partner deal on regionals or your P45.

I suspect they need to seek approval to issue those shares as they are in fact held by 'shareholders' through the merger deal. Of course, passing this resolution would allow them to issue the shares to their buddies at low prices. So they effectively owned the CGP shares themselves, then did a merger which they were part of that deal and now want to be able to reissue those shares to themselves at much cheaper price which is entirely down to their own doing.

mmm

I think that's called daylight robbery.

Anyone seen $4m lying around? Anyone seen thse 157m CGP shares ermmm they were down the sofa.

These guys are toast. Stick with them and the sp will be 3p in no time. I actually think the market will rerate SOLG if they lot of them were sacked simply because the market would assume the next plausible stage will be an advertised sale.

Vote them down and you'll soon see the result of the SR lol!

Last time Mather was under threat, we had a sobbing letter (at great expense) pleading for shareholders to vote for him. The retail vote clearly has more power or influence than you are suggesting - I think you'll be surprised at the amount of shareholders that vote for change. Like I said... vote them down and just watch Bob and his mates scramble around and get a deal presented ... they won't hang about nor will any buyers in the ring right now. Things are too cosy right now. The apple cart needs turning so that all Bob and co and the potential buyers realise that if they don't get it done soon... someone else will and it won't be as cosy as before.

You can vote for another 12 months drfit again and woeful comms and performance or you can vote to cause some disruption and FORCE their hands. It's not just Bob and co... it's the buyers in the data room. They'll be afraid and unsettled alright. And if it's the chinese involved... then they'll get on with rather than kicking tyres.

Vote them down. They did nothing this year and burned $70m. They'll do nothing next year and burn the more millions, deliver zero exploration and just award themselves more bonus shares next Feb or March lol!

Bunch of hopeless halfwits who are only in control due to their original 15% ENSA stake and subsequent merger.

They did absoluetly zero at CGP and are doing the same here. They need to go and pronto.

I should add, SOLG can see votes made (fairly swiftly due to the system in place) but votes can change. If you vote through your broker, check to see if you can change your vote at a later date but obviously before Dec 20th.

Some PI's could vote eveyrthing down and then change their minds in a few weeks if Scott or Maxit actually deliver something meaningful before the AGM.

They'll get the message sooner rather than later.

Yes, agree entirely. The only vote SOLG got from me was for Maria.

When Scott gets booted, they should make Maria CEO. She's more suited to the role than Scott who quite frankly is way out of his depth. He's better off in his boiler suit.

Looks like they've been dumping for a while I think they started the year at just over 9% and now looking like they are going sub 6% fast.

My issue is lack of reporting for an II like that? FCA should be all over them. They must TR1 holdings when they break % points over 3% or 5% for overseas.

If Schroders intend to dump before year end, then it could be a bruising period as 30m shares dropped in the market is not good when buyers are lacking. Shorters know this and that's why they've been all over it recently imho.