Member Info for Fortissimo

Where are they getting the stock... that's the question? I thought volue would move higher after the elections as clear someone has been selling and many have been sitting hands awaiting run off result.

Could be Chinese buying but in terms of sellers.... might be Norges? Norges gorges replaced by Norges pukes?

I think a JV or farm out on some licence blocks possible but spinning out or IPO's are not likely to help at all as they take months to resolve. By March 2024, I suspect the auditors will be asking Scott for that $26m he spouted about in past presentations. He'll need sp back to 18p levels to achieve that with the 100m CGP shares.

I understand the benefits in getting a revised PFS with lower capex as means more interested parties can get involved. That might be the likes of Endeavour Mining... or Wyloo or Lundin etc. But the irony is ... how long is it going to take thereafter for these new parties to do their due diligence and make an offer or do a JV?

I think what Maxit are trying to do is to extract a bid from BHP or another (could be chinese etc) and have realised that all they need to do is get someone involved that is credible and willing to finance a phase 1 development which based on $1bln capex. When that party signs up... that's the trigger for the bigger fish to act or else... lose the asset opportunity.

A while back, earlier this year I think a Broker cited that the most likely partnership for ENSA would be a consortium. Eg a mix of names like Mirador has with Newcrest, Lundin, Codelco and the Chinese.

Like I said a while ago... if Scott ot Maxit deliver a JV on some of the high priority regionals with someone like BHP or Rio or Lundin etc... then that might be worthy of voting positively at the AGM.

The market would nuts (positively) if SOLG announced a JV with a super major on 3 or 4 licence blocks all fully funded by super major and drilling to start immediately. But lets get real here... why would a major want to do that? Why boost SOLG's share price when they may as well buy the lot on the cheap (if they can) and then have 60 licence blocks and a tier 1 mine.

Tricky tricky.

But that's the point of my post addicknt... you've been rogered already. Look at the share price.

BHP might roger you in the backstage door... but you'll still be better off than with Scott&Co.... simply because the maket would believe that BHP will get Alpala to production. At the moment... the market thinks Scott and co are a bunch of old CGP shareholders who sat on their hands for last 5 years waiting for a pay day on 15% ENSA only then to sit on their hands owning 100% ENSA and still waiting for a pay day.

At the moment, there is absolutely no pressure on Scott or Maxit to deliver anything. Why not? Whio's going to apply that pressure? Yep... you guessed it... it down to you and me and rest of shareholders.

If you want to give Bob and Maxit a kick up the backdoor... then vote Scott out. They'll just stick Stackhouse or Botts in charge so market won't give a toot as the market knows the end game but thinks Maxit can't deliver on it.

Someone needs to send Bob and Maxit a firm message and whilst I think Scott is just doing his job... unfortunately for him.. he's the CEO and like all CEO's they have to take the fall for failure.

It's time to make a stand. Time to let Bob & Maxit know that we shareholders also have a bat. They can of course... save Scott's bacon by allowing him to announce a JV or a monetisation event BEFORE the AGM. Shouldn't be too hard for someone as great as Bob and Maxit?

No news or no deals announced before AGM and I'm voting them all down. Simple as that. And I won't be the only one.

Addicknt, I disagree. Scott is there merely because Bob and Maxit need someone to front it and someone willing to live in Ecuador which I understand is a condition set by Lasso and co and fair play to them.

The asset is the asset. Scott is not going to deliver you a sale. Maxit are the ones that will do that. And thus far... they've delivered nothing apart from a royalty that was more expensive than Franco's and ironically awarded to themselves as Osisko is a related party from what I can see. They did the lowest equity placing for years at 16p. The list goes on.

Scott told everyone that he would deliver the Strategic Review and his updated plans in Q3 2023 or possibly Q4. Now it's apparently Q1 24? And wait for it... it will be delivered in Q1 but then they'll have some tweaks or optimisation to do (lol!) which will be completed in Q3... and then same goes on and on and on.

At the end of the day, you have to say enough is enough. It's time to stick the for sale sign up and that's that.

At 10p, we may as well have given in to BHP 4 or 5 years ago.

In summary, yes I want this asset sold but I am also at the point whereby I'd rather see it done without Scott or Maxit involved. They have brought zero value to the table thus far and just lined their own pockets. Which in turn means they can take a lower price and still be quids in while others are left to fend for themselves.

Vote them out and let BHP have a go and we can see what they can offer up. And remember, there are market laws that prevent them from doing a takeover through means that are deemed unfair eg diluting shareholders and gaining company that way.

Chinese might mop a few up now the elections are over as they were buying up 1%+ in open market at 17p/18p levels.

That said... I doubt they want to boost price if thinking of bidding.

Nice to see mm's print a large block in normal trading hours!

Some chunky buys appearing over last few days. They seem to be in larger blocks now post election result.

Nearly 3m block gone through.

MM's appear to be sorting a large seller/buyer out at the moment.

"If he's booted out and the sp drops by 50% the next day, how would you feel about your decision?"

Ermmm... he was voted 'in' last year and the share price has fallen by over 50%.

If he was a premier league manager, he'd have been sacked 4 months ago. And those sacking him would be looking forward to a better team performance from the new manager and new impetus that the club would have etc etc.

The fact is... 'shareholders' did not vote or ask for the CGP boys to takeover SOLG. It happened because of the forced merger. CGP had achieved almost zero at CGP for years and years while just sitting on their SOLG stake and 15% ENSA. Lets face it... they were just sitting back doing sweet FA. Now... the question is... has anything changed? Looking at the last 12months+ it looks and feels like they think they are still CGP only this time they have 100% ENSA.

I know the above is harsh and probably out of order by that's the reality laid bear. The CGP boys were given the cars keys for a year and I'm afraid, it's time to return it and the sad thing is... the tyres look like no dounuts were done. IN fact it barely looks like its been out the garage but they've blown $50m+ on pizza deliveries??

Bozi, sure SOLG will have an interim ceo while they fish for another but doubt they'll need another. Does Scott lose his 17m odd options if he gets the boot?

If he fails to deliver a JV deal whether on grass roots or on ENSA or a monetisation event of any kind etc etc before the AGM... then yes he is toast. That was a given when CGP merged and after all the slating of underperforming SOLG management the idea that Scott and Maxit have delivered zero over what will be 13 to 14 months is poor regardless of market backdrop.

I think he's the kind of guy that will give BHP a JV or some grass root licence blocks if it means they'll vote for him. Sadly.. he'll be playing with the devil to save his own soul (or 17m options).

The CGP guys have had long enough. If elections were the reason for delays.... then that's now been cleared... so let the news roll Scott and lets see whether it's worth voting you and also Maxit into 2024 as the latter may well be worth giving teh boot too. Get Citi or another back in to run an auction process.

Ortherncopper,

Is there anything positive you see in SOLG or is it all doom and gloom. The reason I ask is that if things are so dire why are you invested here? What are you invested for? I'm not suggesting you have to be positive to be invested (as we've been up and down that old one for yonks now). It's just that .... there comes a time when you have to listen to your own posts and act on them. And based on your posts... you should be selling up and moving onto another stock. What's stopping you?

At least Scott is engaging. I've heard this JV talk before .... and am hoping it's substantial and not some pony side hussle on some of the old CGP prospects. That would really annoy me. Sunstone et al is of no interest to me. Bramados... not interested. It's the big SOLG prospects that I'm interested in. Get a JV away with someone like FMG or Rio or Codelco etc and that will get tongues wagging and the sp moving back up nicely ahead of the q1 24 PFS update. Pull that off pre AGM and he's got my vote.

Thanks for that 'the italian'... it's pi's like you who are achieving more for 'everyone' than the likes of Peel Hunt or other brokers have done for a while. Where is the house broker these days?? What are they doing? Scak the and get some fresh impetus in!!

Bluetoff, best summary I can do below

1. Management let share price drop on zero news and Q1 2024 update.

2. Then with price sub 10p, the directors helped themselves to some nice cheap shares

3. Some bloke won an election

4. Copper no longer needed coz electric cars apparently not required anymore

5. Gold not needed as banks prefer to print dollars from thin air

6. England lost to Afghanistan in cricket.

There's only one shocker there... take your pick.

Need to be a bit careful KapilD as Mather might be unwell. Hopefully he's all good and just leaving it all to Maxit and co. As for DGR and other Mather interests... I have no idea about them.

I think they'll RNS in good time but it's the seda filing that they have to do first hence why it was picked up.

Incidentally, the last time we had a 'special meeting' added to the AGM was in 2019. Everything thereafter has been standard AGM.

Mather was at the helm in 2019 but slipped away after 2020's voting.

Scott needs something special himself or else he'll be following Mather as think Scott's votes were marginal last time around.

Further to my note about the additional 'special meeting' being added to the normal AGM on Dec 13th, it's also possible that this may have been requested by BHP as can be called by a shareholder with 10% interest.

We just had the box standard AGM last year but in under 8 weeks time, we are getting an AGM and 'Special Meeting'.

So either major shareholder requested it or there is something that they want us to vote on that is outside the normal AGM resolutions.

Might be nothing but last year, it was just an Annual General Meeting.

This year, it's an Annual General and SPECIAL Meeting.

ohhhhh! Mmm

No, it just means you need to be on the register as of Nov 8th to be able to record a vote. Voting can be done all the way up until your broker says so .. normally 3 to 5 days before AGM date but you would need to check with broker as many vary even though it's all automated these days. The big boys like BHP and co normally vote on the day I believe.

Only 8 weeks away

Incidentally... Lasso leaves November 24th. Noboa sworn in and starts Nov 25th.

So perhaps Scott and co know they'll all they need pre-agm hence why they have brought it forward by 2 weeks as historically it is usually Dec 22nd... eg latest date possible lol!

Here you are

AGM date : December 13, 2023

Record date for voting : Nov 8th 2023

And 723k block bought at 5.30pm.

Same old mm's... they can't seem to get around to posting big trades live during the day. Instead, they do it afterhours. Quiet buying.

Yes, plenty of selling and all via the usual AT route. And as per the norm these days, half the volue or a 3rd is bought into after hours trading.

Meanwhile, the buying continues across the pond with TSX up at 19.5cents or 11.5p equivalent.

It's a funny old game but the last time TSX got some nibbles, it turned out to be Management buying. Has Mather decided to buy some now Elections are over? Anyone heard from Nick recently?