Member Info for Fortissimo

Yes, you know my view on this, I think the risk for Scott and Maxit heading into the AGM with zero news to offer runs the risk of them losing control whether through Scott getting booted or other means.

They simply 'have' to announce something that will move the sp dial or it's toast time for Scott. You can't come in heralding massive positive change when price is 25p and then 12 months later post merger deliver zero and an sp of 9p.

They are not fools. They know ramifications of that.

One thing to consider is that BHP make low ball just before the AGM and that might be 30p a share. Now... in the event that SOLG have nothing to resposte with... how would many vote? Lets face it... if BHP want the asset, it's better to launch a bid when the sp is 9p as opposed to 29p.

I think there's a real chance there could be fireworks ahead of the AGM. More chance than there be absolutely nothing. So lets see how it pans out.

Not quite following you there? But think you are saying 10p early Dec? Correct?

That's quite a difference from your earlier post saying 5p?

Anon, so you are predicting 5p heading into the Dec AGM?

Correct?

"Down another 4-5% tomorrow is my bet." You could be right on that one Anon. Tell you what... have a guess where the sp will be heading into Dec and the upcoming AGM.

Let me know what your prediction is on that one.

"It's as I said, there's no reason to buy."

Anon, I think you need to stand back and take a look at things over the last few months and review the year. Then ask yourself the same question. All I ask is that you consider the following:

1. The Chinese took a 5% holding at around 16.5p.

2. Directors pitched their option awards at 17p.

3. The chinese bought up another 1% holding at levels around 18p.

4. Osisko chucked $50m at it. Franco chucked $100m. Between them they've effectively thrown cash into SOLG that would amount to close to half today's market cap.

In summary, you have an opportunity to buy at 9p or lower today. If you feel that's not worth the time or effort then that's you call.

But there are plenty others out there (many experts in their fields/sectors) spending multi millions on this at much much higher prices.

The market has a habit of making small pi's feel like there is 'no point' in holding. And just as you sell or decide to buy another stock... it takes off big time. Think about those poor investors in GGP that sold out at 5.8p thinking it's going no where fast after month and months of dark tough times... and then in 2 weeks it almost doubles.

As they say, they key to success in markets is based on risk vs reward. Buying at 9p certainly seems like a better reason to me than buying at 16p a few weeks or months later.

But each to their own. ATB.

"Great post Texas"

Stop posting to yourself Orphencopper. You just whipped up another alias lol! You know you did!

Straight in the bin. Keep trying.

Bozi,

Now now... stop with the hand bag stuff. Remember... you're the guy who has actively told many of us on here that you called SOLG right. But erm... you didn't actually do anything to benefit from your own insights. Infact.. you just sat on your hands and watched unfold. No conviction in your own vision says a lot really.

As I said before... there's no point at all highlighting you you've seen the negatives or issues coming when you just sat on your hands and then watched it unfold.

I've done pretty well on other stocks but have no intention to go gloating about it.

EEE doing well for you ?? Enjoy it. No need to be grumpy.

Don't start me off Sharketmare... one has 30% stake in minor discovery and one has 100% stake in monster Tier1 mine discovery.

Keep it real. You know what I am aligning... and it's market's ability to price thiungs cheapily and get it wrong. Anyway.. good to see you enjoying some rises over there as you've had a horrid time there too. You do pick em!

Thanks MFU and delighted for you on GGP. It will filter through to SOLG and other small miners as what you are effectively saying is that the market is beginning to price things 'in' rather than price things 'out'. I thought the last GGP RNS was about kicking back production to 2025?

Anyway... great volume over there and wish you the best with it. SOLG has 50%+ ahead just to get back to woeful 13p levels and even that will not save much face for Scott come AGM. SOLG needs a 100% rise from recent lows to see Scott safe. Shame... but all CEO's end up getting the chop when performance is poor... or some decide to leave early and pocket the cash before share prices fall. You know the types! ATB

GGP now £500m market cap and worth double SOLG.

So one minute GGP is 5.7p and looking dire. Then, on no news... it's 10p after just 2 weeks.

What the farq is going on with these markets. It's nuts!

Look, it doesn't take a rocket scientist to tell you that sub 10p was steel of the century on SOLG shares. Of course they would snap up the opportunity to buy some and get some browny points from some investors (not all!).

Personally, I always start with the pricing for BoD's options as the benchmark of where they think bottom is or where they know they can make 2 or 3 times the value without breaking sweat. There's no doubt imho that Scott though 17p was a super bonus award price to peg his options to.

As exampled by GGP recently.... once an unloved stock going nowhere fast scratching around sub 6p and within 14 days everyone is happy clapping and the sp is 9.3p or 50% higher on zilch.

When things change... they tend to change fast with stocks like SOLG and GGP. Remember, SOLG was 10p post covid and tested 41p+ pre PFS last year.

I just think management saw a win win opportunity and took it.... but as I said.... some might say they orchestrated it as they did zero to prevent it from happening.

Scot and co are going to that SP back up toward 17p/18p or higher to scrap through the AGM. They'll be plenty of happy clapping and investors looking forward to Q1 2024 if the sp is back in low 20's.

So what are they going to pull from the hat in next 6 weeks to deliver that happy clapping??

Remember... they could have set the AGM date for Dec 22nd if they really wanted to. Instead they set it for 2nd week in Dec and tagged a 'special meeting' along to it.

Mmm. 10p tomorrow or 11p? The mm's have certainly shaken a few off the train over the last week or so.

GGP up over 50% in under 2 weeks. And that's after they delayed operations! Market cap £477m!!

SOLG the complete opposite, almost down by 50% over slightly longer period (15p to 7.5p) apparently all down to a large seller. Well, historically SOLG has always been above GGP on market cap (bar the dizzy days of 38p on GGP), so if the market is being rational... SOLG should be on for a 50% climb in November. Sadly... that's still under 15p from where we are but would represent an almost 100% climb off lows. This market is nuts... like a fruit machine in casino hall.

As spooky as it is... fund update tomorrow via morningstar so should see who's been selling and buying. If we see a large sizable trade after hours today, then wouldn't surprise me as still think Berry Street have some loose ends to tie up.

Roll on November, October has been as scary as it gets. Scott will need plenty of tricks and treats to get through upcoming AGM and he's got about 6 weeks left now. Tick tock scott.

Plenty has changed... for starters, you have close to 3billion shares in issue comparedf to circa 2billion a few years back. For balance, we have gained 15% extra of a Tier1 asset, so now have 100%. Is or was that 15% extra worth the additional 800million+ in shares? We'll only know that answer when they deliver a monetisation event. But considering the market prefers to value SOLG on an almost 90% discount basis or credits asset worth to tune of just 10%... we are letf suffering from acquiring that 15% in the meantime... we have to literally carry it at 10% value even though we've paid 100% for it and some might say even more than that.

The CGP boys want a monetisation event... they want an exit. A JV deal or farm in etc is not likely to deliver that. If the sp spiked to 45p on BHP taking a 65% stake (not going happen by the way) then Maxit and co can't sell into that spike. The volume is not there. What they can do is agree to sell their stake to BHP just like they did in 2018 and leave the rest of us to fight it out in the open market.

That's also not likely to work with Mather, Tenstar, Rosseau and so on. They all need exits too.

The likes of BHP know exactly what Bob and co want. They know the alternatives to an all out sale are very limited and not pleasing to Bob and co.

I think their view near term is to get a low ball deal done with some smaller outfit based on a $1bln capex. So it's plausible. So could be Endeavour Mining etc... fairly small biz compared to BHP.. they buy SOLG for 30p... then go about building it or farming bits out thereafter. Danger is... BHP just sits on hands and does not counter offer... then just starts talks with Endeavour Mining about farm in's or JV's.

So only way to really get BHP to make a bid is to find someone capable of taking ENSA through all phases but in a gradual manner. Someone like the Chinese. Mirror the Mirador plans. Go down that route and highly unlikely BHP will be getting a look in. So they either walk away or they push the bidding for SOLG higher into the 40's and 50's.

There is no other scenario imho. It's all about delivering an agreement that forces BHP's or other super majors that are watching SOLG out from the shadows and into the bidding arena. Until the first domino drops... the market will value SOLG at major discount. 10% looks harsh to e and would have though 25% to 30% minimum would be fairer based on stage of project. So 21/22p is the range that carries some respect. 9p or 10p range is just disrespectful and typical of this casino market these days.

Chartwise, the RSI hit 9 when it tested 45.8p and it bounced on the record contract win news. Today, the RSI sits at 21, so suggests there is room for the shorters to push it lower. Certainly oversold but market showing concerns on debt and cashflows near term.

I guess it depends on how you look at things. If as some say... success is determined by share prce, then in order it goes a bit like this...

1. Under Mather Control... highs of 43p+ within last 5 years

2. Under DC Control... highs of 41p+ within last 5 years (note with more shares in issue than point 1)

3. Under SC Control... highs of 23p within last 5 years (note with more shares in issue than point 1&2)

So Scott would need to deliver an sp of over 44p levels to win the great of 'best share price' under his control.

I'm excluding the earlier days when it was penny share and much smaller float/shares in issue.

Incidentally, the winner or loser (depends on your view) is BHP who raised market expectations with their 45p purchase.

Eloro, my hunch is that Bob & Maxit are smarter than they appear to be right now. There are pro and cons with a low sp when dealing with potential buyers. Bob & Maxit would be aware that the 'heat' would be on them after pushing things into Q1 24 and fully aware that they would be under the cosh heading into the AGM based on virtually zero news events all year and zero monetisation. So what would a smart Bob and smart maxit do?? Would they be prepared and have something lined up ready to release to the market ahead of AGM voting. Get some happy clapping going? Absolutely. That's why I think it won't be a problem and news will be forthcoming. No outfit like Maxit would walk into a potentially tricky AGM (apparently a special AGM to boot) without something to generate some smiles.

SO relax... Bob and co will deliver. Scott will be safe and all will rumble on to Q1 24. Or... Maxit are not prepared and have zero to offer in which case my earlier posts today become reality for many.

There will be decent news before the AGM... why? Because without it... they are in trouble imho.

There is no chance of SOLG progressing Alpala to TURN-KEY status. The phrase might sound nice to some people but unless they plan to drill the test mine shafts and deliver that data, then it's like handing a buyer the keys to the car but telling them your not sure the engine or brakes work... best get that checked out boys!

Getting permits and making key land purchases etc etc are important no doubt about that. Super majors prefer the minnows get that stuff done as if they were to do it the price usually quadruples as sellers/lawyers know the majors can afford it.

Eloro... I've made myself clear... Bob and MAxit need to earn my vote. They don't get it by default. That's been the issue in the past and probably why we are where we are. Pressure is needed. Maxit and Bob are no fools. They would have known the damage to the sp near term when kicking the can down the road into Q1. They would have been aware of Berry Street. And they did nothing until the price hit 7p levels. Thus far, everything they have done has been to 'lower' the sp not support it.

Out of interest, do the CGP 100m shares carry votes if not held in treasury? So who votes on their behalf then? These are owned by SOLG shareholders. If they carry voting rights then surely that needs attention?

Thanks for that... little pi's have one vote a year to make themselves heard. This upcoming AGM is the most important yet. Bob and Maxit have to deliver something before that AGM - they've got 6 weeks. If they do and it's good... they'll get my vote. Deliver nothing and they get voted down. We had about $85m this time last year (or after 2022 finance done) and now we are looking at a cash balance of nearer $25m. They've spunked $60m and we have zero to show for it. That's shocking for a business that has done zero exploration and minimal work to Alpala. Where has the money gone? How much in fees has Maxit made already? How many options has Scott been given and for doing what? Time to make your voice heard. They'll see the votes piling upm against them long before the AGM imho and then you'll see some proper news.

'We' are not in a far better position imho but Maxit, Scott and CGP boys are in a far better position. And give them another year and if nothing happens, you'll find they'll be in an even better position. This is the advantage they have. Here's some fatcs for you, when BHP approached SOLG in 2016 to help with funding, it was Bob and Maxit that decided against it... instead they did the financing and awarded themselves cheap shares via guyana. Then after 2 years, they then sold the same shares they took on in 2016 to BHP in 2018 for 3 to 4 times the value eg 25p.

Hence... if you think they will not place those 100m shares with their own mates then you are living in la la land. They are ALL about making money for themselves. Thus far they have made a fortune out of SOLG. The rest of the shareholder base (majority) have made nothing and actually been diluted by 50% over course of 7 years.

That's why I'm pretty sure that if they think the AGM is not going in their favour... then you'll soon see their plans to sell and the story all laid out for shareholders. Force their hand before they chop yours off.