Member Info for Fortissimo

Feels more like a precursor to the for sale sign and strategic review. The lower the sp goes the greater the chances of an opportune bid. As proven by the recent Turquoise hill and Oz Minerals bids. Super majors strike when sentiment is low and share prices are depressed.

SOLG could announce a 1000m drill hole with 2% metals and the market would not blink. It's not a market to appreciate exploration results. It's a market that just wants quick returns and M&A will suit many.

Nows the time for BHP to strike... more so than ever before.

Even the mighty Glencore sold down over 7% today. Funny old game as seems like the powers that be think hammering commodities is the way forward to sorting the inflation issue. I'm afraid that's not the answer. The answer is getting people to return back to offices and work place as homeworkers are richer than ever before, more disposable cash in pockets as no train fairs needed, no commute, not work clothes, lunches etc etc etc. It's the 'new way' of working that is causing banks a headache. Only way to try and hurt homeworkers is hit them with energy costs but that's hardly gonna work is it! Just hammers the poor.

The Fed Reserve created this inflation bubble and even without Putin... it would still be 10%+. That's what happens when you try and fix the market Mr Powell.

Next RNS will probably be a resignation RNS from Darryl lol!

Someone at SOLG towers needs to steady the ship and show some leadership.

That said... some pretty hefty selling going on across miners, gold and copper holders.

how low will it go?

Well guess that depends on how Darryl decides to deal with it. Market clearly showing Darryl that he doesn't have all the time in the world.

Valuestone bought a chunk at 32p. Norges bought huge amounts around 27p to 35p and Blackrock recently bought decent wedge in the high 30's. Guess they all didn't realise that the market knows better??

Looks like a little squeeze on some CFD players today. Ouch... it will hurt. In theory, if NCM and BHP or Blackrock really wanted to... they could take this as low as they want - buyers just don't seem interested and that's all down to Darryl I'm afraid. He's failed to communicated the funding requirements and it's a big unknown. Short term funding through to PFS2 and Porvenir PEA we all know about it... but market wants to know what's happening with funding through to DFS.

It's a good time for swapping around stock and bit of smart isa thinking... assuming you have confidence the sp will be higher. Book the losses and buy in low on the isa.

It took just 400k of stock this morning (or £80k cash) to drop SOLG's market cap by £22m.

A fine working machine. Can understand it on AIM but this is FTSE listed.

Be good to see the summer drift weeks out of the way and market should be back to normal next week... one hopes.

Darryl.... 'we have plenty of time'.... ermmm.. you have about 90 days or so to AGM. You personally are on borrowed time as are many others.

I recall somewhere in the share bonus / options rns that they mentioned VWAP. 27p levels would be representative or close to a 1 month VWAP.

It's a 'stock' award and not cash award so would my guess is they used VWAP. Guess is.... had they waited a few more weeks before issuing them, they might have got 24p and more shares in their pocket or of course... if news comes soon and it's good, then they may have got 35p+ shares and less of them.

Pointless updating the market at end of the month especially August. Traders return to desks from hols around first week to second week in September. That's when you want to drop news into the market.

SOLG's MD&A due before end of Sept I think and there's Beaver Creek Conference on Sept 13th and Denver gold Presentation on Sept 19th.

I would say News guaranteed in September based on that lot.

Soon be time for BHP to put in a 'proper' updated offer to OZ Minerals rather than their post low ball attempt. When will they learn!!! Should be interesting to see it unfold.

Yes, probably shouldn't have used the term 'options' but the point regarding the award price and VWAP remains valid I believe Although Lunchmoney is the go-to poster for the finer details.

The options are minor in grand scheme of things but interesting that they loom like they've used the VWAP and price of 27p+. That's above the last few placings (so won't upset too many larger shareholders) and significantly higher (30%) from 21p today. Management being management tend to go for the best price they can get so perhaps they know of some news soon which might increase that VWAP lol!

Looks like the new guys are now incentivised to get the business sold too! Something cooking for sure... way too quiet out there and that includes on these BB's.

AGM in Dec fast approaching. Tick tock tick tock...90 days or so to go before it's curtains for some.

RSI a bit high and run up from 27p looking valid but little hot. Nice consolidation period around 30p to 35p levels would set up a nice strong platform for run into the 40's. Stocks don't go up in straight lines and need to build support before going much much higher. End of the month trading tomorrow so markets/commods likely to be a bit rocky.

Minor volume but decent bounce

Fruita del Norte is an interesting one as that was a stream deal they bought into. Ironic really... NCM seem happy to take a stream deal from Lundin Shareholders but when someone offers to do a stream deal with SOLG, they don't like it. I wonder why lol!

I can't much on NCM books for 2026 onwards. They seem very short term focussed with high impact fats profit return projects. That might be working for them but their share price is at 5 year lows and shareholders look unhappy. And that's with PM's being at their highest levels for years. NCM are doing something wrong and top management need to carry the can. Time for some fresh blood there with big ambitions.

There was a report in the media a while back (or it may have been a broker note) that they expected a 'CONSORTIUM' to make a move on SOLG. Whether that group ends up winning is anyones bet but if Mather has been able to rustle up a group like Twiggy, Gina, Valuestone, Lundin, Solaris and a few others (Franco/Boliden) then you just never know. If they pitch a deal in the 50p+ levels, then it sets the ball rolling and suddenly the BHP bullies are forced into action or they can walk away. About time someone tested the likes of BHPrather than running scared of them. Time to see if they want to 'put up, or shut up'. In OZ land, Mather has a lot of mates in the mining industry and many of them have a dislike for the way that BHP throw their weight around. Twiggy sent them packing. I suspect Oz Minerals will send them packing too. Soon their own shareholders might send Henry packing.

Careful DBW... don't give those on the sidelines a hint of what's going on. Let them scramble on board after the news lands.

FOMO is SOLG's number one weapon. Although as we know, Bozi and a few others can't think of any reason why someone would want to buy SOLG shares right now! Really, there's no reason at all and we're all doomed and 9p is on the horizon.

We know from past discussions that CGP are looking for a pay day and been doing so for the last 3 or 4 years. We don't know what the terms of the 'cooperation agreement' are with SOLG/CGP but I'll take a run and jump at it and say they have committed their ENSA stake to SOLG (in votes) on the basis that SOLG do not apply that $3.5m clause. By doing that, both parties share common interest and it prevents a predator from buying one (eg SOLG) and leaving the other on the shelf (CGP) ready to wilt and cede to the $3.5m deal as the ENSA terms will transfer from SOLG to any new buyer. In exchange for this cosy relationship, Irwin and co have got to sit on their hands and keep their front door shut. No one was ever going to buy CGP knowing that that $3.5m clause existed. That said, they could always stump up the required costs but if you bought SOLG and CGP together (or ENSA on 100% basis) then there is no back costs to be paid. All costs just carry forward and should be used for tax offsets.

I just can't see NCM getting overly involved with SOLG. I think they like the Gold and Silver ratio's and perhaps the regional folio but I don't think they are that keen on the copper mix. I don't see NCM as being a copper player. I might be wrong of course but I think that's more Rio, Barrick, Anglo and of course now BHP's game.

I think NCM are ready to cash out on any SOLG bid deal but know they have an important stake - a swing stake. So they'll be holding tight until the starter gun goes. I think they'll want at least north of 50p based on the averages and time invested in SOLG (many years).

I think a bid will come in the next 12 weeks. Possibly as early as next month. But do get a feeling that BHP and Oz Minerals action has some implications but just not sure what they are right now. But BHP might be hedging their bets. Gain one but lose the other perhaps?

LunchMoney, as far as I'm aware, the cash box is only for working capital and exploration eg anything other than ENSA. ENSA finance was previously 100% ring fenced via Franco deal.

So my assumption is that there were two proposed raises (eg the finance structure) with $40m for NON ENSA via cash box and $50m via Boliden etc as royalty deal for ENSA only to see through to DFS. I have no idea what capital commitments are required for DFS but if it involves further land purchases and other related pre development costs then it could be $100m for all we know. That's the frustration... we know the burn rate for NON ENSA based on aggressive exploration phases but we have zero idea on what's required to reach DFS. That's poor and that failure of communication rests with SOLG and no one else. BHP and NCM cannot be blamed for that. Darryl is the man with-holding the capital commitments from 'all' shareholders so hope he's following the rules. As you say, results due before end of Sept means we should get a guide on going concern and 12 month forecast on cash burn and what position they are to deliver funding.

So looks like we'll have some kind of corporate event within the next 4 to 5 weeks imho.

LunchMoney, a minor fund raise would not have seen royalty deals involved so I think it's fair to assume that parties involved knew what was going on and as such blocked it somehow. That would indicate $100m+ imho. If it was just $40m plus some working capital to sort exploration on regionals then it would have skimmed through with no issues via equity raise. Same as years before. This year was different as SOLG appeared to try and do the same as last year (Franco) according to NCM Bizwaz.

Eish,

Last update from Darry was that the company is exploring various funding options and doesn't see it being a problem at all and cash pile will see us through to end of the year if required etc.

As we all know by now, the problem isn't funding at all... it's getting major shareholders to agree on what form or structure that funding takes. I don't think SOLG need to communicate to us pi's what negotiations are underway but I do think it would be fair for them to at the very least outline the sum involved. To be kept in the dark over what the full amount required when many other larger investors already have this knowledge is extremely unfair and bordering on market reg rules.

Order book looks like it's all been tidied up now post the placing which feels an eternity away. Hence, now very much a supply and demand basis which bodes well as think there's a lot of investors taking positions now at 32p+ (soon to be 33/34) and that stock is then going out of circulation for a while. ECO doesn't have a huge float so liquidity really tightens with buyers and the sp can move up in very large chunks.

Still a decent 4 weeks+ left before spud, possibly 5 weeks. But the mm's are in no mood to give away cheap stock now. We could see mid 30's and early 40's within next couple of weeks and then the risk trade begins to swing. That's why it's always rewarding for the early birds. 25p was a steal and am delighted with that average.