Member Info for Fortissimo

More than interested. Who wouldn't be when a tier 1 world class asset like Cascabel is being discussed. Question is... is this a 'meet the parents' event or a prequel to meeting the new in laws? Eitherway... any deals on ENSA need Ecuadorian 'official' consent. Partners in cascabel are partners of Ecuador.

Irwin breaking his silence says it all. Mather and Irwin both said expect corporate activity in Q4 (end of the year).

Tick tock

It might not end up being them. But the point to remember is that at some point it may well be someone else. That's the point. We near the end game and we already have loads of names to throw into the hat. Franco, Boliden, Norges, Mitsui, Valuestone, Lundin... loads more. One of the greatest tier 1 copper/gold discoveries in decades. So it's not surprising really is it??

Seems the market got a bit excited today but we'll need addicknt to update us on the market voice.

Nice close.

And just think... the real action hasn't even started yet.

we know that orthencopper!

Oh dear... I do hope for all those that offloaded and reduced and those that sold out completely .... that this comes to nothing. Then again... if it doesn't and those guys sitting around that table are there to get things done.... well... tomorrow could be busy.

Bozi Bozi bozi bozi... oi oi oi oi!

anyone seen addicknt??

Busy I expect!

Bozi.... you sound disappointed lol!

Interesting to read that they have partnered BHP before and seem happy with minority stakes. One deal they did with BHP they had 10% stake and BHP had 85%. Mmm... not a country mile away from CGP's 15% stake and SOLG 85% ENSA. Wonder whether CGP are going all Tokyo on us.

Just waiting for the doom mongers to come out with their sake comments.

I'm wasted here.

BHP about to get egg fried rice on face?

Redknight, I can't argue with BHP's website. And I don't disagree that they like to work from home. But I also didn't miss the very public and media driven meeting between Lasso and BHP some months ago. Seems odd for a company not really interested in Ecuador (according to their website) don't you think?

Fortescue is the second largest player in Ecuador on a licence block basis. BHP and NCM are active in Ecuador outside of SOLG interests. Do some research and you'll see the dynamics on o e of the most desirable and sought after regions in South America. Every other region has basically been tapped up, secured or wobbling under lefty uprisings.

Ecuador, Lasso IMF et al...are keen to find a solution that meets the worlds copper needs and grows Ecuador. It's coming, not long now. Oh and remember... there are some crucial land purchases still remaining on ENSA blocks. So the big boys like this matters sorted before extending the cheque book pages.

precisely... and just for the record, I don't think Noront would have gone for more than 110cents had their share price been 70 cents when the first offer came in. The fact it was 23 cents when BHP made the 55 cent offer just shows how 'asleep' at the wheel the market was.

A rumour in a newspaper over the weekend on a bid approach whisper could see SOLG back into the 30's before a bid even materialises.

The market? Is this the same market that priced Oz minerals at $4bln and then BHP likely last offer will be $10bln? Is this same market that priced noront at 23 cents and wyloo some months later (with no major noront catalyst news etc) bought it for 110 cents? Is this the same market that drove SOLG down to 11p when a flu bug on steroids swept across the world? The market will adjust to what it is told. These days it 'follows'. In the old days it used to be designed as a forward thinker and prices would be advanced. It's a casino and the house always reduces the odds when they think punters need to come back to the casino bank for cash. To beat the market, you have to be ahead of it.

addicknt
You still seem to be missing the point. Yes... were very exposed aren't we?? There's no way Mather would allow this to happen unless it suits another agenda. When have SOLG ever (EVER) allowed them to be exposed? At when we near the all important stage... why NOW of all times would Mather just sit back and keel over without a fight?

I said a long time ago that BHP's foot in the door allowed them to have intimate discussions with SOLG that a non major major could not have. By this I mean, they could find a way to agree a stronger foothold with SOLG and avoid any fears of a counter bid or hostile approach from Rio, Codelco, Anglo, FMG and so on. By running down the clock... SOLG are forcing BHP to the table... not the other way around. As I have no doubt that SOLG have an alternative lined up. Mather would not play it any other way. So the clock is ticking and SOLG 'look' exposed but in reality they have highly likely got funding all sorted and ready and waiting. What they don't want is BHP to counter that with a typical bid rns that says... we are offering shareholders a better option blah blah blah

If SOLG drop some big partner or funding news with just 21 days to the AGM (I think that's the min notice period) then BHP will struggle to get an alternative out there before the VOTE.

There's no way Mather is sleep walking into a zero cash pile and easy takeover. He's been planning and waiting for this moment for over 10 years+.

Exposed?? Exposed my @rse!

Something has to happen in the next 5 weeks to 12 weeks... as the end of the line nears. There are no questions about that. The phrase... 'coming to a head' pretty much nails it. Long time coming too.

There's one question that I want all shareholders (and traders/regular flippers) and it's this

1. Why are BHP here? Why are NCM here?

Answer that and you'll realise that it's always about power and how the big guy can try and squeeze the little guys. Capitalism at it's best or ugliest. There are no partners here or united shareholders. Just big entities wanting assets on the cheap. It's business.

Time is running out addicknt. Which makes you wonder why Mather and Irwin are so quiet. They don't seem too worried do they? As I have said before, perhaps time is running out for those that clearly have designed on destabilising SOLG (like they did before last AGM and tried to remove various directors)???

There's no way on thus planet that Mather would just sit and let the clock run down unless it was in his favour. Remember, if SOLG deliver a plan to be voted on at the AGM, (in next 3 to 4 weeks) then BHP will have very little time to mobilise and counter. Sometimes, you have to realise that the answer is in from of you all along. A cornered animal tends to fight its way out. If it sits there patiently then you know it's feeling confident and unthreatened. The clock has been ticking for a long time but I don't get a feeling of desperation at all. Quite the opposite. I get a feeling that SOLG have a plan. If they didn't then they would have returned to the table and agreed a new equity raise deal or fund structure that all major shareholders would agree to. But they didn't. Mmmm.

Lunchmoney, agreed. I think Darryl hinted as much a few weeks back that there would not any raise or funding done until after the PFS2 and Porvenir PEA. In theory, these two events are now very close and for disclosure reasons/inside knowledge etc it would not work well with the watchdogs if a capital raise was done and then major catalyst news released after that event.

If the plan is to get the PFS2 delivered so the prospective buyer/partner can then agree to the final deal... then yes... that makes sense. If they plant to unveil the much awaited grass root and farm out plans along with a number of of major strategy changes (poss ENSA sale) or deals on Southerne licence blocks etc etc, these will need approval via AGM. So to meet that requirement, disclosure and resolutions would need to be available 28 days prior to AGM I believe. So about 1st or second week in November. A vote at the AGM is essentially the only way you can show the likes of BHP and NCM that 'they' are not the majority holders and as such the company listens to all shareholders and the vote is democratic at end of the day. Not long now. Until then, the mm's are happy with getting deals done around 15p/16p between some larger buyers and sellers.

gazza, it's pretty obvious that the shed needs attention. redknight is just adjusting to the inclement weather. Hard to predict and ever changing. Have you checked your shed?

The word for you today is '''' Bitumen''''.

Looks like an arranges sale and has been like that for some days now. After hours then posts the corrected buy or sell. Someone wants out and someone wants in! But the price for the mm's to get these two matched up seems to be 16p. Against the market bounce, SOLG should be back to around 17.5p/18p on a like for like basis. So it's being pegged back by the heavier weighted participants. Might be Berry street clearing off...? Might be blackrock doing their quarterly rejig? Might be forges picking them up. Eitherway, volume is up and running at nearly 7m average for last few days.

Markets beginning to think Fed needs to moderate and ease up on the hefty rate rises. That would bode well for equites.

Does anyone have any data that shows total short positions on SOLG?? It's never been a heavily shorted stock but would be interesting to know what the level was before the funding 'test' and after the failed 'test'.