Member Info for Fortissimo

I thought the AGM resolutions recently passed (Dec 22) now circumnavigated any such issues. So yes... from prospectus point of view, it's correct but then post AGM we gained right to issue bucket loads of shares so bypassed the old BHP clause. It still exists but we have other means available to issue stock post AGM from what I understand.

Does look like Blackrock have been doing some selling as must be sub 3% to miss out on that list.

Bodes well if they are indeed the reason for the depressed share price. When you have a seller of that weight who seem a bit care free with their exit strategy.... it can cause sp issues.

Worth noting that these positions do factor in the Chinese 6% equity raise, so guess Blackrock would have dropped by 0.2% anyway.

Post merger, BHP and NCM look set to fall just under 10% level.

All good for end of the month tidy up and I would expect them to comet punching strong with new presentation due for PDAC first week of March.

Lets see when and where they plan to start drilling (rio or chill or both) and lets got motoring please.

Nailed that one at 12.31pm

Predictable or what!

The market is full of various participants whether autobot via algorithms programs or simply tagged to ETF ebbs and flows... at end of the day the market is a place for trading, investing and always open to abuse with FCA relatively toothless on the minor stuff (we are not talking BP or Glencore here are we!?).

The ARB traders / players have a more accurate timeline now the company has updated them all with news that new shares should be issued early March. That said.... if I were Scott and looking for brownie points (and they need them) I'd aim to give guidance that I can refreshingly beat rather than overrun on again. So you never know... you might get an RNS saying prospectus published and new shares to be issued next week.

Then again... this is SOLG!

There is major demand from the smelters as Cascabel PM's mix is diverse and not just copper and gold. That'sthe extra wow factor of the discoveries over the last few years. We have a seriously rich vein which offers a multi basket option to smelters which gives them additional exposure to metals that you don't get in some mines/regions of the world.

I'm not pro or against off take deals but I am against further dilution. I'm also for kicking off an auction or asset sale or monetisation event and quite frankly I couldn't give Aussie xxxx what kicks it off but you can't keep things status quo as all potential bidders just sit on hands.

Got to get the domino rolling and like I said... any royalty, stream off take deal etc all comes with reversing or buyback ops and it's peanuts to majors or Chinese.

So don't get too upset if you see something announced that might upset the majors.... I think that's the idea now! The longer they leave it, the more dollars it will cost them. Remember, SOLG/CGP have just made it very easy for any national (Chinese) or Super major miner to acquire 100% ENSA and that's already come at a considerable cost to us wee shareholders. We shareholders can't be expected to keep carrying the can for the future owners. The change of the guard carries responsibility and SOLG have spent millions building a socially respected Brand in Ecuador which is also worth quite a few quid but won't appear in any of the PFS resource numbers.

addicknt,

sometimes you have to annoy the majors a little bit to kick start some action. I think you'll find that the majority of deals done to date all have various 'buyback' options albeit based on certain timeframes.

The Franco deal and Osisko deal had buy back options I believe, so it might sting a little but it's minor stuff in greater context.

I doubt SOLG would sign away too much without leaving the option to buy back a chunk. That's how you keep your 'door' open to offers while also keeping the lights on.

“This is going to be a very exciting story in SolGold going forward,” said Sangha.

Yes Bob.... a few months on and we are at Multi year lows and you've knocked out the lowest equity raise (16p) in 6 years and stuttered your way to concluding a merger which to date still has happened.

Bit of fast, smart, slow and stupid rolled all into one.

A fun article nonetheless. Bob and Maxit will be the laughing stock of the mining industry if this one ends up looking Luke warm on a monetisation event. Reputations at stake here as well as some ageing ego's .... so that bodes well!

I don't think much depends on the NCM/NM deal. Apart from the confirmed reality that NCM won't be buying SOLG. There was a time when a possible NCM v BHP fight was on the cards. But not likely now.

With Chinese influence building in Ecuador and major history breaking Trade deal expected soon... I think it's down to the Chinese and whether BHP or any other super major out there fancies taking them on.

rcgl2,

Newmont are no fools and no real fans of BHP so you never know.... they might just offload the 10% SOLG stake (should they acquire NCM) to the chinese. Or... in a back scratching exercise (I'm sure there are many between BHP and NM) they could sell BHP the 10% stake. Now just imagine that... just when SOLG were keen to see BHP diluted... BHP could end up with an even greater stake than they had before.

Much depends on Newmont/NCM deal and how they see non core assets. Certainly interesting to watch it unfold.

FTSE breaks 8000pts.

Buoyed by banks, mining and oil stocks. Makes you wonder how or why smaller cap miners are new lows.

I'm looking forward to upcoming presentation too as think they'll put some meat on the bone with regard to target drilling planned for Rio and Chical. Still don't understand why they can't get on with this now. Not overly excited about the Aussie asset plans but the latter does seem to get some pi's more excited than Ecuador. Perhaps if we gather some rock chip samples with minor amounts of gold we'll soar by 50% lol!

sorry about predictive text... 'Scott's team' not Scotland... the latter seem to be doing much better these (rugby!).

I certainly agree the Scott's apparent disparaging comments toward SOLG's corporate non performance was a bit hypocritical! He seemed to **** all off and keep himself on some kind of parapet. Whilst it's easy to criticise past management is should also be noted of their achievements. Here's some facts to consider...

1. SOLG's lowest share price for some years (on a VWAP basis) has occurred since Scott /CGP took over.
2. Signs of unprofessional and disorganisation seem more evident now with the CGP team in charge than before. SOLG past management were not perfect by any means but that looked and sounded a bit more professional imho and did not air dirt linen in public unless being attacked by likes of BHP and NCM.
3. SOLG past management secure $100m Franco deal and a number of successful equity raises well above 20p.
4. So far, the 'new boys' have delivered a $50m royalty (at more expensive rates) and issued equity to new investor for the lowest equity price in 6 and half years?? !!
5. Maxit - made the decision back in 2016 to sell their SOLG shares to BHP for 25p! They retained their CGP stock.
6. The CGP boys achieved very little with the remaining CGP business with failed JV deals with NCM and pony drill results across bulk of their folio with exception to Bramados which they JV'd out to Sunstone and as a result have a minor interest.

So whilst I appreciate that many are pointing fingers at past SOLG management, the reality is the new boys in charge have delivered very little, the share price has crashed while on their watch and we've seen a very cheap equity placing.

Perhaps the reason the SOLG share price was steady eddy in the mid 20's under Mather (for most of the time) was because the market thought SOLG management more capable. eg $100m Franco deal was a game changer and prevented hefty dilution which would have virtually handed the keys to NCM and BHP.

I appreciate the directness of Scott, but it needs to be done professionally and he needs to accept some responsibility himself rather than doing the weak thing and blaming others.

All in all, the share price is battered and at multi year lows because of Scotland team not because of the old SOLG team although I must acknowledge Darryl certainly didn't help things nor did Mr Inflation.

Bozi,

"where are the speculators"...yes indeed. A valid point. The absence of buying from Norges, blackrock or the chinese is a concern especially at 12p/13p levels.

Putting that aside and looking at it purely from a traders point of view, the latter don't like zero news periods. So when the company says... erm... we now think we'll conclude the merger around end of Feb (27th) or possibly a few days later (early march) that's the green light for many to sell. Why hold stock for 10 days+ when you know nothing is going to give the sp a lift?

There is of course a strong chance that the RSI followers (they buy when RSI is low) will be wading in next week. In the last 5 years, SOLG has only been sub 21 on the RSI 10 times I believe. It's a rare event and is always accompanied by a decent bounce. Plenty of TA followers will be hoping for a dip into the lower 12's or even 11's but being too greedy can also see them lose out. Then there's the ARB boys of course. Some hefty shorts in play (they've already forward sold their 15 x SOLG shares when the price was 18p. Now they can either just wait until those 15 shares per cgp share arrive and close out or they might chose to close out a few in open market (some of that might have been going on in the 14's.

All in all. When you combine some over leveraged holders, factor in some squeezes, some ARB players, some impatient traders, and a potential 10 day sign posted zero news period.... it's a proper sheeeeet storm is it not??

I don't think the low sp has anything to do with fears over the business or assets or management but more to do with the notorious news void. Everyone knows that Scott and co are holding their cards close to their chest until AFTER they have their SOLG shares in the back pocket. Then and only then will they initiate the assumed ramp fest kicking off no doubt with a hole or two on Rio.

It seems to me that Scott and co don't want their CGP shareholders to be selling post share issue. Let's face it... why would they sell at 14p or 15p or even 12p?? That's a loss on the 16p shares straight off the bat.

Far better to issue those shares to CGP holders and then issue a bullish rns on plans going forward giving them all a solid reason to hold well into the mid 20's and beyond.

Fawn can go for starters. If Scott has any sense he'll save $400k a year. A ludicrous salary for someone that quite frankly has done nothing for the last 6months+.

If Scott wants to save more money then get rid of Twigger. He's been a complete waste of time and has his fingers in too many pies to be able to deliver shareholders their money worth. How many meetings has he attended in the last 12 months??

Then there's Citi group, nomads and pointless TSX listings that cost a fortune. Get some new ones in, slash their contracts and get them to earn them.

When a companies stock drops from 40p levels to 12p levels seen on Friday yet the basic asset and cash balance of the company is unchanged (from days of 40p) then the finger can only be pointed at management and advisors.

Granted there is some depreciation in sp due to dilution (fund raise) but the extra 15% ENSA should make the CGP merger relatively neutral.

40p to 12p based on what?? A combination of BHP and NCM causing problems, then Darryl causing more problems, then Putin and post covid inflation causing PFS2 problems and then the ugly poorly funding 'test the market' situation.

When the markets crashed in Oct 22 due to market panic on inflation, SOLG tested 13p levels. Many stocks tested lows but majority have all now either jumped by 40% to 50% or are bouncing back steadily as backdrop improves.

The merger and TSX issues along with some ARB boys have undoubtedly made the share price top heavy with sellers/shorters. The nothing really explains the drop from 16p levels to 12p. Nothing at all apart from the usual market casino mechanics which prey on the over leveraged and turn some traders and investors into 'forced' sellers through margin calls. I've thought for sometime now that there might be an 'event' which see the market or bigger firms squeeze the pi's out of their shares right just before the long awaited asset sale or takeover event.

SOLG is known for drifting on now news and management have literally telegraphed the news free zone through to end of Feb. My hunch is that buyer will emerge next week as trading days to end of Feb are limited with 6 or 7 left at best.

Tos,

From the MD&A... it's standard stuff. You need to calm down fella.

"GOVERNMENT RELATIONS
An application to begin negotiations on the exploitation agreement for the Cascabel project was submitted to the Ministry of Energy and Mines (“MINEM”) on 31 August 2022 and was deemed admissible on 14 October 2022. Initial discussions regarding the Exploitation Agreement began in December 2022, and that the formal negotiation process began in January 2023. The Company has until December 2023 to complete the negotiation process with the establishment of a non-binding term sheet, and the submittal of a request to move into the exploitation phase.
In December 2022, the Company submitted an application to amend the previously subscribed Investment Protection Agreement in order to align it with the exploitation agreement under negotiation and to obtain additional benefits provided by the government which were not available when the agreement was signed in 2021.
The MINEM has established bi-monthly meetings with the Company to review the critical approvals required for the development of the Cascabel project, and to address other actions required by the Government for the success of the project." END

same link as above Pinot??

ToS1963

What on earth on you on about? SOLG are currently negotiating the next phase with Ecuador government as per last RNS. It's standard stuff. The clock STARTS ticking once that exploitation stage kicks in. Hence it's in Ecuador's interest to get it signed pronto and in SOLG's interest too as they means potential buyers will not sit on their hands.

Some utter nonsense being posted on these boards these days.

Either deliberate or just uninformed or misunderstood?

SOLG should just get in touch with Franco and bank another $400m for 10% royalty. Stick two fingers up to market and add 10p to share price!

I am kidding.