Member Info for Fortissimo

redknight1, what are you blabbering on about? You sound like that RNS has come as a shock to you. Where have you been? The RNS says exactly what we already know apart from you! We all knew that funds were required to take us to DFS. But like I said a while ago, it's up to the likes of NCM and BHP if they want to take part in equity raise at a decent price like 32p or 36p. Any lower and it's not in interests of all shareholders and I suspect Boliden will step in for $100m donation in exchange for same royalty deal as Franco. BHP can't spit dummies out if they are not willing to fund the business in the 30's. Simple as that. Norges will have your 300k with delight. This RNS only delivers one bit of unknown news. And that's the cash pile total of $26m. That gives us about 4 months to get this finance sorted if taken to the wire or 3 months being more realistic so likely to happen in September when market returns to proper business.

Some real flappers around these days. Everyone wants a slice of SOLG so any funding will be a easy to sort. The rest of your speculation is nonsense.

There's a huge basin there and it's clearly following the same geology as the massive Venezuela finds. Guyana in theory could be the right place for majors as leftism takes over the South American regions.

forgot to add, majority of staff required for such an IPO on ENSA would without a doubt be required to relocate to Ecuador as that's a given. Hence some staff won't want to do that if Brisbane, London or Sydney based. Lots of commitments required when developing projects in countries like Ecuador. Many of SOLG staff are already in Ecuador so only upheaval for a few.

I think we are going down the IPO route. Spin off ENSA and then BHP can take what stake they want but will need to pay the going rate or buy chunks off other investors post IPO. Probably then list that ENSA SOLG Copper and Gold entity on North American markets with $1.5bln to $2bln market cap. SOLG retains decent stake. Then SOLG becomes a pure exploration play based on folio and we all retain shares in that. Valuation of SOLG would be boosted based on the IPO value. Exploration staff would be retained or bolstered and some staff would go over to SOLG ENSA etc. So plenty of moving about in that corp action. That scenario would allow SOLG and Mather to continue to deliver more and more Tier 1 assets but no guarantee of course. Think that's what Mather has been after for a while. He doesn't want to be taken out and see the buyer get the entire SOLG folio for almost free. New lady CFO is specialist at doing IPO and spin offs to gain greater value for the main entity. Above scenario could have conditions if favourable to BHP that they can't acquire SOLG for 24 months etc allows for SOLG to find more Tier 1 assets but would have a clause to say BHP would be able to bid if SOLG was bid from outside player etc. Agree on the NCM... think the BHP might swallow them up but I did hear that they were looking at Glencore so shows you that even NCM is small fry compared to that kind of deal. All guesses on my part but think we'll be at 50p to 60p+ based on the above scenario.

https://www.bnamericas.com/en/news/new-guyana-exploration-well-targeting-200mb

someone on twitter saying they seen smoke or flaring... mmm take with pinch of salt but timing of it is certainly inline with well depth target zones.

We should know up to date Institutional holdings next week then as SOLG have been good at updating holdings as per each important presentation. Wonder what Norges are at now?

The new CFO is likely looking at deals and mining with people that Ingo would not get near. Different calibre entirely. SOLG is maturing and moving toward being a very strong and professional outfit. Majority of the earlier management team is being replaced and that's understandable as big investors want big experience behind the wheel. Ingo was right for SOLG some years ago but the new lady is the one that will get the 'major' deals done. Thus Ingo must feel like a spare part and has moved on likely looking for another smaller company that he can begin to build and move forwards which is better suited to his skill set. He's not going to Barrick or BHP as CFO is he! Also, as the AGM nears in Dec, I suspect there will be a few other 'old' management players moving on and certainly some big names being voted off 'should' a monetised deal on Alpala not materialise. The clock is ticking and you can feel the squeeze coming into the sharp end.

One word guys

'Barrick'!!

TSX up 6%. Someones buying across the pond and doing it without causing too many ripples as volumes low on face of it but much higher compared to the usual almost stagnant TSX volumes.

As they say... volume is your friend and we've had some pretty large after hours trading over the last few weeks. It might have calmed down a little over last couple of weeks but that's fooling no one! Blackrock bought back there 1% that they were fiddling around with. Norges seemed in a rush to get from 2.6% to near 4%. Mather taking up his DGR options. Irwin so quiet it's almost like his shouting ... "show me the money"!!!!

The way Darryl's been hiring ... I think we are about to see SOLG split into two. One part ENSA... and Jv'd or sold. And the other part all about exploration and Porvenir with an eye to rinse and repeat the success proven on ENSA.

thank you NRL2901 and Monte. This BB can be a great help when not cluttered with squabbling. It's coming home boys and gals and binaries. (tick!)

Did I miss something? Where or when did Mather say 'corporate action' coming or expected as per some posts above. Is this recent or just echo's of last years comments?

Gold sub $1700oz likely to hurt HUM harder than most as AISC's way too high for those production levels. Should have been 10% lower than that. Blaming it on inflation is a lame excuse. Another excuse to add to the growing list.

Gold now $1690oz! Hum losing $200oz to $300oz per day. That's going to stack up fast.

There's a very good reason for all these very slick video's. All will be revealed soon but imagine the new lady is very busy!

Seanhunter, the last funding round of $100m and $40m didn't sting did it? Mather made sure it didn't as his interest are aligned with the common pi. I think you might be surprised this time around, I think boliden or those types are in the frame and that's not going to please BHP but like I said... it's up to BHP... if they offer to fund the $100m+ but at 45p (like they did last time Sean) then I think most would happy.... well those that are invested. SP could move up fast to 30p levels soon if market gets.a whiff that a cheap raise in mid 20's is not happening... bit like the price surge seen when blackrock and Norges were in a rush to add stock. You could get left behind Sean as it's obvious you've sold with a. view of buying back cheaper. Good luck with that. Risky move. FOMO rules here. And our time is coming.

We have no rev so market knows we have to raise money. That's a given. But at the moment the market is assuming that comes from an equity raise. In past times that's around $40m which in context is a minor raise and really shouldn't be the single most directing force on the share price. But there's a strong chance this time that more cash is required. Like the $100m via Franco, if similar funds come from Boliden or another then we know that upsets BHP and NCM but pleases just about every other shareholder as dilution is not something that we want too much of and on $100m the dilution becomes more significant.

There's been some little news pieces with hints of deals being done and recently talk of Warintza and Lundin or Solaris etc.

In my opinion if BHP and NCM don't want another royalty deal then 'they' should approach SOLG and offer to raise the $40m or $100m but at 35p or 45p levels. At those levels it becomes less dilutive. I think most would be fine with a 36p capital raise of $100m. That would see the sp bounce back fast. I wonder whether that was brewing when Blackrock were in a hurry to buy back that 1% that they seem to be playing around with for last few months (my assumption!).

It's all going to be unveiled soon and the new appointments suggest that those new signings know that funding is not an issue with some actively being employed to help back ink it all. Buy the dips as fruit bat used to say. Are you back in yet fruit bat?

I still think the biggest issue here for Mather is that he feels SOLG are worth considerably more than just ENSA/Alpala. Whether he's right or not is anyones guess but I think he wants the chance to explore some more licence blocks with Rio likely high on the list. So put yourself in Mather's shoes... any deal that see's SOLG continue to explore the rest of folios a good deal for him. It might end up a bad deal for all if the drills bit delivers nothing but average assays and cash pile shrinks. Ophir energy is a prime example of a business that did really well by selling a minor 20% in a Tanzanian O&G discovery for $1.3bln! They then went on to spend all of that $1.3bln on duster after duster after duster. Unbelievable! So one scenario here is that SOLG IPO ENSA and get a wedge of cash plus retain a small stake. Then go on a huge exploration phase which either delivers or fails. It's a bit like winning at the casino and then pouring it all back in and losing majority of it. Of course the bullish scenario is Mather and team end up delivering the much promised 'handful' of Tier 1 assets. I think the worst case scenario for Mather is a complete buyout of SOLG for a price that barely even covers ENSA's true worth or potential. Rest of the folio effectively goes for free. One way he and the SOLG team can move to try and fight off that scenario is to start doing JV deals on Greenock and other licence blocks and then at the very least it's harder to take SOLG out based on ENSA value alone.

Here's one to ponder... lets say BHP offer XX for ENSA and price agreed but SOLG set up a spin off company and chuck all other blocks into that and then IPO that in some form. Would you invest in that or walk away? I guess that's the real issue here... many want exploration but like the fact we are under pinned by ENSA value. But how confident are you of SOLG funding another tier 1 asset? Would you invest lock stock and barrel into say... 20 or 30 drills on RIO?

In summary.... I think there's a chance that if BHP and NCM play it right they can get a deal that suits all. A deal that leaves SOLG to continue as the explorer which after all was the whole point of the business in format place. Something cooking for sure as all involved seem very quiet. Even the media. No leak stories at present. Mmm!

Yep, get the feeling we might get news next week. About time too. Might be Moran... might be financing ... might be jv talk... grass root deals....IPO ENSA plans...could be loads of things.

The drift down from 28.5p earlier in week was on no volume at all. The larger volume buys over last few weeks have all been near or above 30p. You can't get more than a few 100k blocks on SOLG without the sp being back at 28p levels fast. So traders and newbies should enjoy the little nibble trades they can get when price is sub 25p. Fro those on sidelines, with 400k+ shares needed to be bought back etc... that's not going to be easy when there's a load of other folk doing the same.

I get the feeling the next bit of news could be 'big'. Irwin too quiet these days and as another poster said... there are confidentiality contracts being signed all over the place at SOLG towers. Wonder what's so hush hush then!! Also still perplexed as to why Blackrock bought back almost 1% when they knew the market was wobbling. Why didn't they wait? Seems odd for a trading firm to make a mistake like that. They could have bought back at 28p/29p levels instead of the 34p/35p level.

TSX has been more bullish than LSE for a while now. Someone trying to gather stock before news but via TSX (off radar compared to LSE??

minor volume but a weird one

Yep - good isn't it? Noront was 'doing nothing' before BHP came along and pitched a 55cent offer. 4 months later after several bids and counter bids the stock was sold for 110cents.

If you want an offer... then you want the stock to look unwanted. You want potential equity raises to look very expensive. You want the stock to look cheap.

The lower the SP goes the harder it gets. It actually forces management into JV's and farm out deals. When blackrock bought back their various instruments to close out June at around 35p, I genuinely thought an equity offering was coming around the 35p/36p level which I reckon would have been acceptable by most considering the last placing was done at 26p.

Perhaps it suits SOLG to have a lower sp right now? Why... well they can go down the Franco style route and raise cash via royalty option. Yes BHP and NCM will be unhappy with that but what's the alternative? A heavy dilutive capital raise at 24p? No way that's happening. Mather was clear last time. $40m+ exploration budget is fine at mid 20's but $100m+ is too much of a hit on dilution.

So while the lower sp doesn't worry me too much, it actually pushes SOLG toward a Sale or JV deals and I think most would agree, that's what is needed after years of dilution. It's time to monetise.

bradlml1,

How does it compare to your Thomas Cook investment? You know... the one that went from 50p to 4p?