Member Info for Fortissimo

The stock is grossly undervalued and mispriced ... simple as that. The mm's certainly taking their time correcting the mis pricing. But getting there.

Only another £150m (5p a share) to go before market cap aligns with one of the minnows in Ecuador lol! And we most certainly are not a minnow. We have the biggest the asset in Ecuador as far as I can see.

Wake me up when we are back in the 20's.

Looking forward to seeing Dan's new presentation. We'll likely have the only Tier1 mine 100% owned at Beaver Creek!

Is that the mine that Noboa is or was personally invested in himself prior to him being elected?? Does he still own a stake? Bit of a conflict of interest there imho.

Certainly bullish for Ecuador and all mines in the country if a big named super major or national takes it on. Certainly removes the apparent 'regional risk' so interesting one to watch unfold.

Almost through $3600oz.

How much gold do we have?

TAM looking awesome based on early production and those gold prices or better!

Good post Panda.

Small world innit?

Panda,

Why not wait for the new presentation which is due to be released next week? You'll get some answers in that for sure.

Dan has a couple of big presentations coming up with beaver creek starting next thursday. Perhaps he wants some momentum and excitable share price going into those events? Canaccord are fully on board now so they might have a view on when to release news although worth remembering that news should be released when ready etc or when sensitive.

There could be a intraday release but would seem pointless. Your best audience will be on Monday morning. And as per usual, the sp tends to show somw strength going into the Friday close as Traders yet again place bets for the strong Monday open on news.

In theory, sp should dip today on no news, but if assumption is that news is nailed on next week... then guess it can do the opposite!

Jerry... the way some miners are going you might want to set it £3 lol!

EEE continues to outstand. Just when it looks like it's tired, it jogs on another 15%. 7p to 82p today in under 12months.

I'll happily wait another 12 months if we can get £1.50

Tier1 mines hard to find these days.... and 100% owned Tier1 mines almost non existent.

Dan's got Beaver Creek conference on the 9th/10th/11th of September, so imagine he's keen to get as much assay info into that new presentation. The latter should be out next week and will be interesting.

I did wonder whether we'd get the ExploreCO update/plans released before Beaver Creek too but guess we'll have to wait and see.

Tandy results don't have to be off the charts. Anything around the 0.6% would be fine. The point is, there's so much more to be gained via the TSF being resolved. I think SOLG were modelling on around the 0.6% grade level prior to drilling simply as a base case. But thus far the drilled holes/assays have far exceeded expectations.

The ExploreCo spin out would likely see the best increase in sp especially if it brought exploration drilling forward to imminent levels. What we don't really want is a protracted ExploreCo listing phase with exploration not kicking off until Q2 next year etc.

I'd like to see 'plans' laid bear but perhaps a small investment of circa $10m+ to get porvenir toward a better valuation level ahead of an IPO.

Drilling and exploration is what the market is getting excited about right now due to PM's flying.

Any IPO listing / propsectus etc etc is going to take at least 6months+. So lets get some derisking done on Porvenir first and see where that gets us??

Heaven help the shorter if TAM delivers continued near 1% grades at shallow depth.

We might find ourselves producing from TAM for longer than thought.

What if it's still 'open'?

Now swiss domicile sorted, perhaps it's time for the 'bid' approach... well... not until the short is closed. Oh... hang on... the short has started a partial close after almost 6 months.

mmm

Just a quick point on this Swiss domicile as came up in discussion with a fund manager I know.

Here's the thing... the swiss domicile is a lawyer/paper work job. It's likely that it's been on the table for a while. But.. why execute it now and publish to market? It won't have any bearings on the AR FY due at end of the month. It could have been triggered or pen'd anytime over the next few months leading up to DFS. So why do it now? The inference is ...you normally action these things just before a friendly bid approach. And you normally do it when you have ducks in order... eg have TAM sorted and SP much higher. Interesting move as any benefit in numbers due to taz savings won't be seen for months yet until DFS arrives.

Lets face it, they are chinese based. The short appeared shortly after they took on an extra 6% and pre TAM drilling. So it may have been a hedge. They are entitled to manage risk like anyone else. I think it's fairly clear that TAM is a goer now and TSF sorted but that's not 100% confirmed just yet. But even so, I would have expected the short or hedge to have reduced inline with the sp rising.

The short played a part in capping the sp below 8p for some time... during that period, 300m to 400m of volume was recorded and if some of that volume hands then it's win win. So yes... the short is losing money but the longs at 7p are already in the money. So loss might be marginal.

The share register will have Jiangxi's holdings as well as valuestone. But market notification only occurs trough the 1% thresholds. So Jiangxi might be up to 12.99% right now. SOLG will know.

Good spot indeed. Transacted on 29th so may have been end of month tidy up.

Data always delayed by around 48hours, so possible they may have closed out more of the short on Monday/Tuesday. I guess we'll know 3.30pm ish today.

Dan... I smell blood... drop an RNS in on a whopping big grade hole on TAM and I think they'll start squealing whcih will help with the next leg up.

I think most expect an offer to land this year or possibly into H1 2026. Any potential partner or buyer of the ENSA licence will want to buy back the allowable 50% share of the stream deal. I believethat means any deal /CoC needs tp be done and dusted by Mid 2027. Most acquisition deals take roughly 6 months to 9 months to conclude, so the deadline (to be on safe side) would be September/October 2026 for 'accepted' offers. If a bid war is a fear of the interested party, then that can make the bid / offer process much longer and thus could required a first bid as early as April 2026.

I have no doubts what-so-ever that SOLG knew exactly what they were doing when they struck that deal with Franco/Osisko and set that mid 2027 deadline. It's like a ticking time bomb to any acquirer even more so when you include the prospect of $4000oz+ PoG and early production plans for TAM.

Not long guys and gals... we are on the final stretch now and the specialists (Paul, Dan and Canaccord) are ticking off the boxes as we go.

Lets not beat around the bush here... everything that has been done by Dan since Jiangxi took their stake to 12%+ and provided technical advice and consultancy is... well... a Chinese wish list.

Dear SOLG... could you do the following for us please and then we can make yoy a very fine offer.

1. Get rid of that TSX listing... they hate it when chinese firms take over their listed miners

2. Get the Franco/Osisko stream doc updated please to account for change of control and other bits.

3. Get TAM drilled so we can be sure of that TSF and early shallow production profile

4. Consolidate CGP 15% ENSA stake into 100% SOLG ownership

5. Create a tax efficient domicile so we can acquire it without having to reveal the mechanics of the financial channels

6. Get the locals relocated please inline with Ecuador mining/ministry guidance.

7. Spin out the regional folio into ExploreCo so we have a simple 'ENSA' acquisition to complete.

Do the above and if all works out ... we'll make you an offer.

Ta

Yes, feels like the mm's know news is coming. They've bagged a few yesterday after the walk down from 15.7p on Swiss domicile news.

The 250k afterhours trade gave it away a bit as paid at circa 15.5p against 15.04p close.

The market is a funny old animal. It's happy to drip drip lower when it suits it... but when there's momentum in a stock like SOLG or as mentioned earlier EEE... just look at the shakes and mini wash outs as the mm's scramble around generating volatility to gain stock.

Guess that's the game.

SOLG's not really near prime shake out range yet. I think if they pop it into the 21p/22p range then they'll flush a few out. But most mid term traders know that style of chart and will be waiting patiently for the next leg up from 16.5p to 19's and higher.

Another few 0.8% or better holes at near surface and we really could be flying.

Great momentum for Dan going into his presentation/conference season in around 8 days or so.

Hopefully see funds coming into SOLG from EEE investors taking profits. That stock has done terrifically well but like all explorers... once the MRE drops and heads start to turn toward funding... capex... lassonde curve etc etc the fun days start to end replaced by the boring phase of finance and red tape cutting.

Many GGP holders as well as SOLG holders know all about that. The early exploration days are the most exciting and best for pi's imho.

That's why Dan needs to get that ExploreCo moving asap... the excitement from drilling a few more decent holes on Porvenir or on a few yet to be drilled sites is what the shareholders want. Just imagine if we had several rigs underway across 3 or 4 blocks. News every 3 or 4 weeks for next 6 months.

Come on Dan... lets get TAM sorted and then move fast into regionals exploration please.

While Trump plays Tariff's, the chinese have been quietly acquiring precious metals and mines and look well set for metal price surge in coming years. Trump and the US will be hit by 50%+ tariffs lol when they seek to gain their own supplies.

"China’s overseas mining investment also hit highs in 2024, valued at US$22.1 billion, compared to the previous high of US$21.8 billion in 2018, according to research by the Griffith Asia Institute."

https://theoregongroup.com/commodities/cobalt/chinas-overseas-mining-acquisitions-hit-10-year-high/

I think 'Script' is more apt for this fantasy comical thread.

Players like BHP don't issue shares to little olde players like SOLG. Last thing their shareholders would want is $5bln+ being sold into the market. Super majors buy in cash unless it's a mega deal like the poorly planned BHP move for Anglo.

Someone like FQ or Wyloo etc might prefer to issue shares but much depends on how it is structured.

Any buyer of SOLG's Alpala will account for the full cash cost which is acquisition price followed by capex required through to production.