Member Info for Fortissimo

Yes and without them, with won't get much cash or a decent JV deal or sale.

Addicknt, you seem to forget the other options. It's not all about cash raises. SOLG have told you they are looking at many forms of finance. Listen to the company.

Red - here's a little reminder of your posts leading up to your 600k sold statement (I'm guessing if you sold in chunks you were selling while posting this kind of stuff??) You are Jekyll and Hyde. Is that where the 'our holdings' comes from?

15.78
No Opinion
RE: Sp30 Sep 2022 10:45
If theres a bid approach the best time to announce it is over the weekend...then people will be all obver each other to pile in on Monday...
redknight1
Posted in: SOLG
Posts: 5,959
Price: 15.98
No Opinion
RE: Resignations30 Sep 2022 10:42
Ray...Im told you are dissing my purchases...how come you're the only clever git in here...?

Still filtered...
redknight1
Posted in: SOLG
Posts: 5,959
Price: 15.98
No Opinion
RE: Sp30 Sep 2022 10:41
Agreed...already bought up to 16.68...21% above last nights close...
redknight1
Posted in: SOLG
Posts: 5,959
Price: 15.98
No Opinion
RE: Resignations30 Sep 2022 10:38
Novice...what happend to your Friday forecast...?

Or was yesterday's 5.5p it?
redknight1
Posted in: SOLG
Posts: 5,959
Price: 15.98
No Opinion
RE: Sp30 Sep 2022 10:36
Capitulation Colonel...you always need one last big push down to take out stop losses, shake out the weak holders and kickstart the upward move...

Whoever is bidding better get going soon...

Bloomberg will be pleased. I remember reading one story on there about Gold going to 10,000 and the next day gold going to 1600! Bloomberg cover the stories that are fed to them by their pay masters which is either hedge funds or JPM Goldmans and so on. It's news for the pi's as it's old the minute it hits the terminal.

Lucky for you 600k shares is peanuts to the market so you'll not have any impact. In fact, the buyer today was very keen and out of the gates early doors. Whether they come back next week and continue the trend in Q4 is anyones guess but today's action a classic example of how one moment the board is full of doomsayers saying 10p tomorrow and then all of a sudden they are all gone.

Follow the money... Norges at 30p+, Blackrock in a rush at 34p+ and Franco in for $100m no sweat. They clearly haven't been watching Bloomberg lol!

Good WK all.

should add, if BHP get wind of this then they might try and scupper it all by making a bid within the next couple of weeks. Eg before November AGM resolutions are sent out and any special matters of business to be voted on.

4m traded which after yesterdays 12m or so - that's good volume after some very low days. Guess that's what happens when you put a stock into bargain levels. Like selling genuinely rolex's for £500. They get snapped up fast.

I'm expecting a decent sized UT and some after hours action so could see another 10m traded day.

On a side note, if you are planning a cheeky funding move prior to the AGM, then you naturally want to make sure BHP do not have much time to react. That way, when it goes to a vote shareholders can amass in their droves via voting system and BHP will have to offer an alternative and won't have much time.

Think that's what's happening here and why we are seemingly happy to drift along with no news and no funding confirmation.

Agree, this is how you force a major like BHP to 'put up or shut up'. But do you need to manufacture a bid to get things rolling? Why not just sign a royalty deal with Boliden... surely that will see a similar result?

There is a way that Mather can really annoy BHP and shift the entire dynamics and that's through a decent sized share issue to someone like Fortescue. This is what I have been expecting and heard whispers of a while back. Fortescue are the second largest licence block holder in Ecuador but from is out there, they have struggled with some eco warriors of late. They need to bolster their activity in Ecuador but ideally through a subsidiary like SOLG (once bought out etc). Land acquisitions and so on are all done better under the SOLG brand. Further down the line Fortescue can ditch the SOLG brand etc.

Fortescue could become a direct shareholder to the tune of 10% and have some warrants in there that will move them to 15%. Not too different from the Wyloo GGP set up. Funding would be provided by Fortescue etc.

Now what do BHP do? The cat will be amongst the pigeons and we know Twiggy doesn't like BHP!

The main man is back at FMG helm. And he's very keen on Ecuador.

If that run to 13p yesterday eventually proves to be a proper tree shake then that's appalling and terrible to see poor retail investors ripped out of a takeover stock.

Will be talked about for years if true.

I was right about the order book... mmmm

Sharket,

I think the 'experienced' recruits are there to add credibility to the PLAN A strategy of taking Alpala forwards on a development basis. You know... gives it some authenticity compared to having some guys on there that are well... less than experienced to such a task?

Of course, Plan A might be a hopeless one but if you want top dollar for your assets in a sale you need to make the prospective buyers think you have 'options'.

Bit like Darryl telling the market that they have plenty of finance options and yet majority of pi's on here (you included) seem to think there is only one option and it's an equity raise and a poor one at that. And remember, what was said about a month or two ago might not be said now. Things change fast especially when the market tanks.

Tesla1,

Are you a buyer in waiting here or just someone that likes posting on the SOLG bb?? What's your investment interest in SOLG?

there will be a few out there very upset if it doesn't fall back.

Order book looks very light- almost as if someone wants it much higher and into the 17's.

Have they agreed an equity raise price in the high teens perhaps??

Something cooking

Lunchmoney,

Know what you are saying but looking at recent news updates, permits are hard to come by and grass root rock samples just about acceptable before more red tape to get all the environmental approvals pre drilling etc. It takes time and money.

Would you not agree that recent exploration drilling (over the last 2 years) has been hit and miss or more miss than hit!

Time for some fresh exploration faces perhaps? Hit some big holes again?? Get some excitement going?

pigeon English?

Only kidding!

addicknt.

I'm not a fan of Darryl either. Think he's the right man for a large project like Alpala with proven deliverable experience and that lends some credibility to funders and those that want to believe the 'we can develop this' mantra. But is he a CEO?? Absolutely not. Does he understand markets? Absolutely not. Does he understand retail investors and their desire to be stroked every 5 mins with news?? No. He's the wrong man for the retail investor base. But he might be the right man for the funders. Furthermore, he might be the right man to get that PFS2 done to the best level it could be. So it's a mixed bag but remember, he does have advisers like PWC... Citi group...the nomad... NEDS etc etc so they should be stepping up to the plate and helping him and SOLG. I think you should air your concerns toward them and not Darryl (in most cases).

If or when an offer comes for SOLG, remember it will be based on the PFS2 and Porvenir PEA. The rest of the folio likely to go for peanuts which is a shame. But that's what happens when you don't drill the prospects.

Dr Copper was mysteriously higher yesterday and up over 2%. Very rare to see that against major indices falling. It's normally a bellwether for bullishness.

SOLG's sp moving on decent volume for first hour of 1.4m. Normally see 1.4m as a total daily volume. Looks like it's hit a zone that interests buyers.

If I were part of the exploration team and was twiddling my thumbs through majority of 2022 and then told likely to be doing the same until Q1 2023, then I too might think about moving on. What you don't want to do is wait around while everyone else leaves and takes the new jobs.

Darryl might want to bring in his guys and most cel's do like their teams around them. And not being too harsh on the old guys, but it's been very much hit and miss on the exploration with more misses than hits. Poor decisions taken on RIO. Some poor decisions on Porvenir satellite areas (nothing to report there) and plenty of poor holes drilled. Yes Tandy was good. Some of Porvenir good or great. But that's it. The rest poor. So why not bring in a new and better exploration team??

Just a reminder ... Norges were buying at 33p+ range. Double today's price. Can anyone point me to what's changed asset wise for the share price to be sliced in half?? The previous share price of 33p was supposed to be a valuation of the assets and potential assets. What's 15p represent?

I think we know somethings cooking as the 'test the market funding RNS arrived when the sp was 26p+ and whilst market has deteriorated since then, I'm not sure a 50% slice is aligned with other stocks out there in the sector. 26p to 13p would normally see a company issue an RNS saying they know of no reason for the fall and reiterate the message that there are numerous funding choices and the company will update shortly. But nothing... just silence.

Then as many have highlighted, whilst in this pretty ugly storm, we see no tweets by Irwin or Mather apart from the messages via CGP and DGS on 'corporate action' to be expected.

Last year we had Twigger defending the Board against unwanted approaches by BHP and NCM (or one of them). Twigger said he felt they should stop trying underhand tactics and if they want to control SOLG, they should make a fair offer. Here we are seemingly at loggerheads with BHP and NCM again over funding (might be Mather/DGR and not BHP at all) and yet we don't have any dirty washing being aired this time. We don't have any tweets from Irwin or CGP that are negative. And this is Mather's baby and we see nothing from him either. So as they say.... sometimes the biggest noise is no noise at all. It's the silence that is deafening.

I just get the feeling that SOLG already have the funding sorted but have not released that news yet. Maybe it involves royalties and perhaps the low sp supports that plan and will correct thereafter. But most all, it's clear that SOLG needs to do something to shift the power being thrown about by NCM and BHP. This could be done by bringing on a 3rd party like Fortescue with a 10%+ stake or even 15%.

I just can't see the point of allowing the sp to drop, then capitulating and giving away cheap equity to NCM and BHP. Makes no sense at all especially if that was tabled back at 26p levels or even 35p+ which was when Norges and Blackrock were buying big.

Anyway... just speculation on my part as that's all we can do when left in the dark and the company quiet as a mouse. My gut says something has been cooking for a while but until it happens... I'm wrong. But I only have to be right 'once' and that might reward handsomely. Mathers not the type of person to sit back and watch this just nose dive... so something afoot.

Josepi

That's a tough question. I have Mather and potentially associated partners/holdings etc near the 25%+ mark. So it's not just about ego's here (eg ex CEO) it's about Mather's baby... and how this ends up. Mather was the one that got the Franco deal done and it resulted in him losing the CEO role but remaining a director. Rightfully so as he holds a large wedge here.

Applying logic, one would say it might have been straight forward to just revise the funding structure which 'failed' and represent one that would work for all. But the fact that it seems like all involved have just let the sp slide on leaving the funding issue unresolved.... makes me wonder who's squeezing who?

Slug offered up some nice scenarios a week or so ago. The one I like goes a bit like this...

1. let the sp slide / telegraph funding issues
2. Then do nothing until we get close to AGM resolutions time (eg posted 1 months in advance of meeting, so Nov 6th or something like that)
3. Then just before AGM resolutions - Mather and his buddies (Chinese/gina/wyloo) make a low ball bid of say 36p which will look very attractive if sp in low teens.
4. Then see what BHP and NCM do. At this point not much time to react as AGM fast approaching.
5. If nothing comes from BHP, then Mather gets his baby back on the cheap and BHP have lost.

This kind of plan has to be workable so needs to have deep pocket partners involved. Chinese and Gina tick those boxes. I'm not sure the US will be happy though and considering Lasso is 'their' man IMHO, he might come under pressure to make any Chinese deal unworkable. There is politics at stake here and last thing Ecuador/US needs is lefty green warriors getting in (came very close indeed at last elections).

Overall markets are not pretty right now so I think SOLG would be down into the teens regardless of funding being resolved. Look at GGP... funding sorted yet 20% down from that priced deal, 30% down if you take the combined warrant deal.

We might be at a stage whereby we see the FTSE100 drop below 6000 level. In that situation, SOLG would be dragged down too even on low volumes.

Addicknt, does it matter? It only matters if you are trading or over leveraged etc. Many invested for the takeover or buyout north of 70p+ levels. Whether that comes or not is anyones guess but the sp could be 14p today or 34p in a few weeks...and in both instances it matters not much if you are holding for the buyout deal.

14p levels only really matter if the company plans equity raises and as we know, Mather was against doing hefty equity raises when the sp was 26p so there's no way he's going for it at 13p.

Today's collapse (not the only Stockton wobble in the woeful market of late) could actually push a funding raise toward Royalty deal or a JV partner deal and so on. Those scenarios are now more of value to shareholders than equity raises at 26p+.

BHP and NCM don't like royalty deals as it effects their future interests lol! But even they can't argue that doing an equity raise at 13p or 14p is better value than a royalty deal. We've had $100m from Franco, so lets get $100m from Boliden and show the market that the assets are 'prime' and indemand and the share price needs to readjust to reflect that.

Where's all this talk of 'bust' coming from?? Utter nonsense. If SOLG announced a strategic review with intention to sell assets or asset or entire offer for company blah blah blah... then it would be soaring higher.

SOLG can hoist the forsale sign whenever they like. Will it garner a great price? Well that depends on who's interested and how bad they want it. They could avoid sale of business and instead do a alliance deal with solaris / Lundin and Chinese.

Loads of options. Going into admin aint one of them. Anyone that thinks that's a possibility has not got a clue.