Member Info for Fortissimo

They don't get much better than that.

Now they can really knock out the volumes which we were all expecting. The next few quarters are going to blow the doors off.

I can't see anything unexpected, I think the copper production clearly 'building' for Q1 based on the new streams but all new production streams build slowly and then ramp up fast. You want to break the production line in gradually.

There's nothing outstanding on Trafigura either, so going fowards... what a great time to buy at these levels with what looks like an absolute stonker coming in Q2

They are on track to have around $50m in cash based on Q2. Some lag in Q1 but that's all par for course with new production streams.

Look at the cash build... not the quarter rev bookings. Look at the inventory.

You won't find many miners out there throwing off $20m+ to $30m per quarter and valued at under £300m. This will be £500m market cap+ before next year.

Cash pile growing with speed now. Inventory build a welcome addition. If they pile that into q2, then possible they could have close to or over $50m in cash by end of q2. Could they end the year with $100m in cash?? That would surely demand a £500m to £600m cap minimum.

Great progress. Higher copper prices will improve numbers further and I am expecting PoG to make a return to $5500 levels in H2.

Major tipping point now. Middle east looks fragile at best and consumers deciding that 'range' now sufficient to make the leap.

EV's sales are now surging which as we all know brings with it greater demand for PM's with copper being top of the list. Issues across globe on copper supply mainly brought on by Freeport's Grasberg woes.

Strap yourselves in... copper and AAZ going on an amazing ride over the next 1 to 4 years. AAZ well positioned.

Nudging higher today. Looks keen to punch out new highs.

Codelco raising prices as well.

Strong moves in copper. Nice timing for AAZ. Suits the new strategy.

Majority of miners heading back to near multi year highs. AAZ still a decent 20% to 25% below recent highs, so still lagging rest of market.

Looks great value against other miners right now. Could see copper break $7 in H2 in my opinion.

Trump will want the markets looking plump again going into Mid terms.

With metal prices sky high, it's certainly time AAZ delivered some cash returns to investors.

Popped a few into the new ISA allowance yesterday. 480p is my projected target for this tme next year.

I should add... don't follow me in on a metals ETF now... I think the horse bolted early year and there might be a significant pull back in metals over the next 3 months. Gold's best months are Jan/Feb and then after that, they tend to get neglected until October time.

Metals are at all time highs, as is the market indices. It's frothy... created by Trump and co and the earnings numbers don't support the markets exuberance. It feels like a proper pullback/correction is on its way. So be careful folks. No advice given or intended. Place your own bets!

I'm not going to waste my breath on likes of Maxit, Scott or Dan.

I exited a while ago as could see the inevitable. Invested the funds into a Metals ETF and am already 25% up. Sometimes you just have to move on. I didn't want to depart without wishing the real SOLGERS all the very best.

At the end of the day... Cascabel looked great on paper, the numbers were immense. Solaris (open pit) proved that a $2bln valuation was possible even at an early stage. Yet for whatever reason... no one wanted Cascabel. No one wanted the regionals. Even with metal prices sky high... no one else wanted this asset. And that interest was put to the test and it failed to draw anyone out.

If it was an ebay auction... then it's one of those that just got away ... poor timing or poorly marketed. It's done and game over.

Plenty of other opportunities out there but remember this.... the assets and valuation are only as good as the management team behind them. So always scrutinise the team behind your investment if planning for the longer term view.

ATB.

Yes, if any one is going to the AGM could they ask where the following promised items are please. Many thanks.

1. CIPA

2. Updated PFS with correct metal prices (eg old ones were or are hugely outdated now)

3. Status on EISA

4. Details on Hole 77 and rest of TAM drilling results that have been completed but not reported

5. Details on the ExploreCo plans

These were all the key events and catalysts sold to shareholders by the CEO and of which I believe his cheap options were based on.

It's more a combination of end of month/quarter and y/e profit taking. Par for course but exacerbated by CME raising margin requirements for gold, silver and other metals as posted on the exchange's website late Friday. Deliberate move designed to let off some much needed steam. Likely to continue tomorrow albeit a half day / eg low liquidity.

"A tsunami of buying has arrived"

Yes... and a tsunami of selling too!

The sp would be 35p+ if that 50m was all 'buying'.

It's mainly arbitrage trading which is why you'll see sideways action rather than a rising SP.

In situations like these, when the arbitrage trades are done, the sp normally checks into a holding price which is usuall7 5% to 8% below offer price. Why?? Because they in time they will want you to vote for the deal rather than exit now at 28p. Best way to get you to vote is drop the sp back into the 26's.

Only hope here now is counter bid and if that was likely, we'd be into the 30's now.

That doesn't mean one is not coming... just the market thinks it unlikely.

SharketMare, we don't know what Norges or &G et al think as yet. We might hear something next week. None of them have pledged their votes in favour as far as the RNS info goes.

Remember, Jiagnxi ONLY have 28.5% of the votes. They need 75% of the votes to get this through.

I think it would have helped Jiangxi if they could have got that total higher at the time of their formal offer... which perhaps explains the 11th hour offer... only they didn't achieve a higher sign up albeit LOI's.

That's quite damning in it's own right. Everyone can vote for it... that's fine. Their choice. But they'll be voting for something without having all the information required as I have already outlined.

There's a real chance that Jiagnxi won't get the 75% acceptance here. They are miles off with 28.5% thus far.

I have expected them to announce their formal offer with a figure of LOI's over 50% so they killed any doubters flat. But looks like they couldn't muster that up amongst the larger holders. Instead, it's just NCM, BHP and a few flaky SOLG directors and we know who they are lol!

Not sure I follow Addicknt? Dan said he would deliver them before year end. Perhaps he'll still deliver the news as promised but bit later? All I am saying is... i can't make an informed decision UNTIL that news lands.

If CIPA is being withheld by Ecuador Gov, then I think the BOD's have a duty to tell us why? That's key information. The PFS update is not hard to do. Dan seemed confident on that a long time ago... so no way there are any excuses that are acceptable on that one.

Lets face it... they could just update the current PFS with higher metal prices and then say a further update will come in Jan once TAM has been fully modelled in??

Or... are we dealing with a BoD's that have decided their job is done and they are sitting back and awaiting the AGM and then the Scheme voting event?

We need action don't we? We also need anyone counter bidding to KNOW exactly how great this asset is... eg... it's not a 28p a share asset is it??

SharketMare, completelt agree... some wriggle room for them. However, lets remember that when the Land levy tax was in play as early as June/July I believe, Dan was asked whether the ExploreCo plan/news was still planned for before year end. His answer (if I recall correctly to a number of investors asking the same question) was YES. So you need to factor that in.

PFS update on TAM / metal prices was also cited for year end. TAM drilling was said to be continuing with G-mining regardless of the bid. That was also mentioned on the MRE RNS. Also, the latter supports the base formula for working into the PFS. Eg...updated MRE first, then modelled PFS.

There are a number of other ongoing nws events i haven't mentioned. The EISA was also underway and planned for submission to Ecuador before year end. Infact, I think it had been submitted in October... but could be wrong.

CIPA was expected before year end. This was messaged by Dan long ago. It was also reiterated after the Ecaudor land levy suggesting it would not be held up. There's no reason why it cannot be released unless the Ecuador Gov are hanging on to it? Which in that case begs more questons than answers does it not?

The fact is, in summary, all the KEY VITAL events that our CEO promised us BEFORE year end have not been provided by the CEO yet at the same time he expects everyone to accept a pony 28p offer which is NOT based on that news nor does it 'REFLECT' it.

It's possible this news may land tomorrow... or over the next few weeks so lets not get the pitchforks out just yet. But lets at the very least try and get what was promised to shareholders 'delivered' so we can all make an informed decision.

That's fair. I'm sure it's forthcoming. I'm sure RodneyT and others will be very very disappointed if Dan fails to deliver the promised news releases. If he doesn't, then he's done half a job so perhaps he won't mind if we strip out half of his bonus options?? Sound fair?

So here's the thing Dan...

For us to attract a counter bid above teh 28p that you've already implied is reflective f what we have achieved this year.... we need the missing parts that you promised before year end...

1. CIPA

2. Updated PFS with higher metal prices factored in as well as TAM

3. ExploreCo IPO/spin out details

4. Final results from TAM drilling from early November.

If you don't issue this news, then I'm afraid you are placing your shareholders at a disadvantage and you are NOT giving potential counter bidders the full story from which they should be basing their bids.

We simply have to have the above news points or else questions will be asked WHY YOU HAVEN'T DELIVERED ON YOUR PROMISES.

So here's the things Dan....

YOU promised before year end...

1. CIPA

2. Updated PFS with higher metal prices factored in as well as TAM

3. ExploreCo IPO/spin out details

4. Final results from TAM drilling from early November.

Now, you're recommending that I and other shareholders accept a 28p bid WITHOUT the news above being factored in??

So let me get this right... are you saying that points 1 -4 are all reflected in our share price which you claim is strong??

I'm lost? Completely lost as a shareholder.

In caps for you... HOW CAN I MAKE AN INFORMED DECISION ON THE 28P OFFER THAT YOU HAVE 'unanimously' RECOMMENDED WITHOUT THE NEWS YOU PROMISED?? WITHOUT THE NEWS THAT YOU LED ALL SHAREHOLDERS INTO BELIEVING WOULD ARRIVE BEFORE YEAR END.

You are asking me to blindly vote in favour of something that DOES NOT take into account the above 4 points.

So, I'll tell you now... I'll be voting NO THANKYOU to the offer because I CANNOT make an informad decision BECAUSE you have failed to furnish me with the information I required to do so.

Do you think that's FAIR Dan?

Before the court hearing on the scheme... any counter offer has to arrive before the voting commences on that. It would put a serious spanner in the works so imagine any predator would time it with maximum effect... bit like the chinese did with their first or second bid. They've already gained a 1 week to 2 weeks countdown start due to seasonal calendar/market holidays.

Smickster,

As you know I'm fuming and raging at our BoD's for seemingly allowing this to occur at the stage we are at. Some might say they had little choice but I think their desire to get a bid and 'any bid at that' is the reason we are where we are. So with better management team and without the woeful involvement of some insiders like Maxit/Bob etc... I think we might have got an offer next year post CIPA news, post ExploreCo news and post PFS update. We deserve all 3. After that's been delivered, then and only then can Dan or our BoD's say that the sp is reflective of this years hard work. It's no where near reflective of that right now at 28p!!

Like I said a while ago, the chinese were never going to be offering free technical advice to bolster the sp lol! They want to assess the asset indetail ... that's all and that technical advice loop hole was a neat way of circumnavigating the market rules. I still can't believe my eyes when I reread that equity gift to them at 9p. Beggars belief!