Member Info for Fortissimo

One question is whether Twigger knew of his upcoming 'booting' or not when he bought 750k shares £75k's worth although guess it doesn't matter a jot as it's still cheapest price he's been able to buy at for years thanks to CGP boys coordinated sp destruction.

Another question is who the xxxxck is Mr. Adrian (Steve) van Barneveld? CV wise he's no one special. So why Mr Barneveld? Who's buddy is he or who's side is on? He's clearly Aussie based so could he be Mather's mate? And that's the 'balance' in exchange for Twigger or who clearly Mather's mate before although supposed to be impartial as a chairman?

So lets review yet another CGP boys destruction of value then...

1. They boot an 'invaluable' and industry respected experienced chairman

2. They boot a non exec that is one of the leading mining lawyers in Canada. Lets put him in CGP boys camp.. but erm.. he's a lawyer... so... mmm.

3. They appoint Mr Barveveld who looks Aussie based (poss connections to Mather) and his CV looks average at best.

So we had well respected chairman... well respected useful mining lawyer... and we now have neither... and some guy that quite frankly looks like he just a head nodder / proxy vote for someone... but lets not rule out a possible BHP connection due to Aussie roots. So could be BHP... but not wanting to whip pi's in a frenzy... best pick someone that doesn't have BHP jumper suit on his CV.

mmm

Addicknt, you know BHP and NCM (newmont) are not happy with the royalty deals. There were quite a few that said funding via royalty deals was a non starter due to BHP's objections to the Franco deal. And they were proved wrong. In came Osisko and another £50m (more expensive) deal done. Further placings done to new investors and BHP left out cold. Maxit has creamed off $5m+ I think... might even be $10m in the process. There are plenty of reasons why the shareholders 'that matter' as you put it are not happy. Twigger punched back at BHP in public... highlighting their underhand tactics a year or so ago. So he was thrown to wolves to please BHP... no doubt about that imho. But like I said... it was an attempt for Scott to save his job. He basically threw twigger under a bus and the only question now is whether he gets BHP's votes for doing so.

Dog eat dog but it's of his own making... well not Scott's ... but Bob and Maxit. It's the latter that are running the show. A poor one at that. Bob and his bat hey? Now looks like he's polishing BHP's shoes lol!

The mighty have fallen as they say... and so has the share price. And more will be falling come the AGM as the CGP boys are out of their depth here and looking woefully inexperienced... and rightfully so... none of them has a clue how ot progress a Tier1 asset.

Sack the lot, suspend the share price pending an auction sale and let BHP, Chinese and the other 18 interested parties slug it out... with a deadline auction date for bids.

Not hard is it?

True to form the share price not reacting well to the CGP boys RNS. Sp seemed like it was getting into better waters but good old Scott and MAxit are there to slap it back down!

Can't have it rising can we boys?

FTJNY

Nonsense... vote Scott out and you'll force Maxit's hand. Between Maxit and Mathers et al, they hold enough stock to make sure BHP don't run riot. You need to look at the share register and realise that there's not much BHP can do.

So you can vote for turkeys again at xmas like you did last year or you can try and inact some change and apply some pressure.

They've blown $70 this year on what? And you want to vote them in? You're not throwing away the keys by voting Scott out but you might be regaining some level of control by doing so. These CGP boys are wrecking this business and profiting themselves. Have you seen the fees that Maxit have raked in this year from SOLG?

Certainly feels like the scene is set for an offer announcement but whether that is teased pre agm and fulfilled in H1 2024 .. who knows... but the 'how to sell a company' playbook has been pretty much followed to a T.

1. Reduce share price so threaten shareholders with some kind of misguided reality

2. Reduce cash balance to point that means more dilution

3. Reduce company to moth ball status and bore shareholders to death

4. Sack or remove chairman and anyone esle that gets in the way of sale plans

5. Present pony offer to shareholder and pray someone else counter offers it.

Tick tick tick...

Trouble is... they have an AGM coming up and the above is not going to help much if Scott gets the boot. So what else do they have up their sleeves as planning like above always results in plan b's and they knew what they were walking into Come Dec. So come on Scott and Bob... time to show your hand very soon. Lets have it then.

Well, I'm not happy with losing two directors for no apparent reason at all.

So I'm voting Scott down come AGM unless he has some news that changes my mind.

Throwing some lambs to the wolves is lets face it... rather cowardly and seems to sum these CGP boys up.

They are toast. Bring in a the new team... that can get the job done for goodness sake.

Plenty out there more experienced and capable of getting job done.

So much for 'stability' DBW... looks like the CGP boys can't handle anyone else around apart from themselves.

They've effectively taken SOLG over. 100% control yet last year they had minor 15% ENSA stake and 6% SOLG control.

Funny old game innit.

Is this some kind of plan pre agm that they sacrifice two directors in the hope that shareholders then have little choice but to retain the rest??

Mmm... So why would you acquire 750k share Mr Twigger and then step aside?

I wonder whether his rebuff to BHP has come back to haunt him. Scott.... did you sacrific Twigger to please BHP and save your own bacon??

Not going to work sunshine... you are toast unless you deliver something 'major' pre agm.

Agreed - quite a few shorters notifications don't get made when they dropp through thresholds. Much depends on where they are based and who regualtes them.

I think you can question the FCA data with them and they can seek confirmation. They have a duty to maintain clear and transparent markets.

I remember a few years back on Premier Oil ... no short positions declared until something got forced or flagged up and then hey presto turned out a firm had a 20% short on the business!!! Unbelieveable!

Yep, that window of opportunity over last 6 months to 12 months should be closing next year. As Inflation drops, rates drop and likely stimulus kicks in... the growth story kicks in again western and far east style.

Our last PFS would have had 1.5% to 2% inflation built in along with interest rates of about the same 2% to 3%. In 2022, US inflation was 9%+ and rates 4% and rising. The expectation is that rates will be back to 4% or lower in 2024 and inflation sub 2.5%.

That effectvely sets up better metrics for PFS in 2024. Along with higher metal prices, the IRR should be over 25% imho based on phased one lower capex starter mine.

Buyers, predators.. partners... call them what you like.. the time is to buy now and not into a metal bull market and better economic backdrop. You want to strike when shareholders feel weal not strong.

The Chinese have a real chance here to snaffle a great asset on the cheap imho. If they continue to kick tyres... they could end up paying much much more.

Yes, but in the past, try and buy 1% in open market and the price flies as witnessed when Norges were buying in mid 30's.

I think the disappointing thing of late is that it took the price to fall to around 8p levels before someone was interested in taking a wedge off BSC. You'd think the chinese would have gobbled up that 1.5% in the early teens after buying bulk of their 5% holding in the high teens.

When things move ... we know they move fast with SOLG. One week the sp was 19p.. few weeks later it was 41p. GGP has jumped from £250m market cap to £500m+ market cap on zero news. This market is nuts... how can it value a company at £250m one week and then change it's mind to £500m with zero to warrant it apart from it being mispriced in the first place.

SOLG was flatlining in the mid 25's not long ago. The market seemed disinterested in SOLG then and yet the market cap would be £750m at 25p vs £265m today. Amazing how disfunctional the markets are at present when it comes to deciding on valuations.

It's certainly a puzzle. The stock should have bounced after the recent small cap/ftse350 resurgence. Plenty of little miners and middle levels miners putting on solid gains this month.

AGM notice should be out next week. At least we are guaranteed an RNS!

There 2 schools a thought regarding Ecuador gov. Firstly... SOLG may well get all loose ends signed off by Lasso before he leaves on Nov 25th. But ironically... one has to question the impetus for Lasso and old gov to get this done. Why not just leave it to the new man? I'm sure Noboa would be delighted to be announcing a big deal in mining sector just weeks or days into his tenure. That said... he might want to tread softly on mining until he gets his feet under the table.

So who knows, but change in political powers clearly has or can hinder talks.

Aussie dollars would give £2.1bln or about 70p a share.

Majority of brokers have fair value or target prices of near 70p.

So surprise at price tag. But if it's US dollars then £3bln or £1 a share looks a tall ask in this market.

Not sure $150m is a sticking point to someone likely shelling out $2bln+ whether in acquisition or full cost inc development.

But it's not a drop in the ocean either so any buyer or interested party would naturally like it settled.

Lets assume (just for example sake) that acquistion price on ENSA is $1.5bln or 40p a share. So $150m would equate to 4p a share. So if it gets amended or wiped, then I would expect Ecuador Gov to have something in return... no idea what but lets park that for time being. So 4p a share liability for buyer or discount required if not altered. Not a deal breaker at all but meaningful.

Shorts added more on 14th with some taking a minor amount off.

I still think this is arbitrage or linked to bonds as the latter collapsed today by 7%. At 54 value it's just 2 or 3 away from 51/52 lows.

Just guessing here but feels like something 'financial' going on behind scenes. Poss reorg of debt with some equity involved??

Shorters seem very confident adding some hefty weights at such a low level (eg 46p). I can understand it at 60p or 70p. But at 46p... they should be reducing not adding.

Looks like the tail wagging the dog over on TSX. Big volume for them so early in the day.

Just where is this stock coming from?

News soon then as TSX always seems to move before LSE... I wonder if that's the canadian connection lol!

"there is simply no desirable outcome from kicking Scott out at this point in time."

Well, there is 'no desirable outcome' likely at the AGM for them unless they deliver something meaningful.

I've said it before, I'll say it again. No management team would expect to get through the upcoming AGM based on the last 12 months performance. So my guess is they have something up their sleeve and we'll hear soon. Sorry for the negatively, but they've burned close to $70m and I'm struggling to see what they've delivered shareholders for that money??

I want to be positive ... but they've done nothing to try and be positive. They've turned the business into a struggling minnow when we were looking pretty strong indeed before they came along.

The sp was 3 x higher for starters. And we had less shares in issue... nevermind the bonus options.

There's nothing Scott can tell me in a phone call that is going to change my mind on him or CGP guys. Zilch. I know this based on the info he imparted to you. All fluff and no substance.

They need to deliver something of substance or they are going find out the hard way imho. I think they know what's coming so I'm expecting decent news soon.

Might not take much to get my vote but it has to be something meaningful. Not some regional pony deal on their old CGP exploration junk.

Lets have some news Scott on what you've delivered shareholders for that whopping $67m spend. Lets ave it!

DBW... they've spunked $67m. The cash pile was $85m. Cash at Sept 30th was $22.9m. That's likely down to $18m now.

Cut costs??? Yes... but at what cost? It's cost more to cut the flippin costs and we've had zero exploration thrown in compared to previous years.

Sorry if I am doing a Bozi... and just bashing the company while holding all my stock but that's how it is. Makes no sense at all to pi55 on ones own shoes but as Bozi and Orpherncopper have proven... it can be done if you wear wellies.

You can't destabilise a train wreck. It's already destablised.

I know what you are saying but you are falling into the same trap and you need to realise that these guys will leap into action if their apple cart is turned upside down. So vote them down and watch what they do. You'll be suitable surprised imho. You'll soon see them achieve something as they want their plans messed up one bit.

There's no way BHP will vote for them. No way Newmont will vote for them. I reckon they'll be looking at 60%+ votes against in 4 weeks time.

They need a rabbit out of the hat big time. There's still time. Noboa takes over on Nov 26th. They've got about 11 days left with Lasso to get anything outstanding signed or else they are into new gov discussions. Mmm!