Member Info for Fortissimo

RICH3R

14 years? lol! So you're just getting started then? You'll need another 20 years+ before you fully understand TA and markets.

Some of us have been in and around these markets for a very long time.

An RSI of over 70 is not 'over-heating' especially when backed by strong volume. SOLG currently running at 15 days above 70 rsi.

In march 2022, SOLG maintained an RSI over 70 for 23 days. So could be another 8 to 9 days left of this run... who know!

Empire Metals had an RSI over 70 for 23 days flat. (well done on that one by the way Bozi!).

With SOLG's line up of news due, we could see March 2022's RSI period beaten??

Patience solgers

we've waited 2 years plus for some life in the old dog ... so enjoy the sunshine... there are bigger fish about that will move this back to the high teens in no time. When it happens..it happens fast with SOLG.

We are still £220m shy of where the market rates Solaris resources and we are twice as good as them and twice as far ahead.

So only 7p+ to add before being aligned to one of the smaller players in Ecuador.

Wakey wakey!

It was a good interview. He seemed pretty on the ball even though the questions were likely pre agreed.

He looks like he's put on a few pounds... must be all those investor/client lunches lol!

Thanks Pbow, great research. Agree, looks like MSCI re-entry some months off unless there are some examples out there where MSCI seem to bend the rules. I'll take a look at the stocks entered over the last few quarters and see if they follow the same rules. Thanks again.

Tandy is commercial with metal prices at these levels and copper predicted to be much higher in 2 years time etc. No question about that. However, to get partners involved, funding secured and development underway you need to use discounted metal prices. Simple as that. On that basis... a few more holes over 0.6% grades would be very supportive. I think they may identified the sweet spot on Pit one. I think there's 2 or 3 holes out of the 5 left that should be 0.6% or above.

Pit 2 hole 55 and 58 will have been completed.

if 4th rig has arrived then in theory Pit 1 must be done now whcih aligns with Dan's message about early August.

So Pit 2 should have 4 rigs on it drilling away the last of those 9 or 8 holes is my guess. Not sure on ease or cost of moving rigs from Pit 1 to 2, but I would expect each hole to be done in a couple of weeks or just over so feasible to get Pit 2 ompleted in next 3 weeks with 4 rigs turning.

Pit 1 looks done now so did they see something very nice in the last few holes that triggered the request for 4th rig??

Short not closed either but we are running 24 hours behind ... always. They are risking more some serious damage with predicted newsflow lined up.

I don't think it matter too much where the sp goes in the 11p to 13p channel. That's the consoldiation range and a few days bobbling around here would be fab fro the technicals ahead of the next batch of news due pretty soon I believe.

If Dan has his TA hat on... he'll know good news will enable a break through of that 13.5p level. Thereafter it's pretty quick to 16.5p ranges.

Anyone looked at the next MSCI criteria/market cap entry point? Get back into that and we would be back into the 20's.

So we have 15 more holes to come of which we only need a couple of really decent headliners (0.9%+ at length) and we should be looking great. News on exploco comes at any time but again if I were Dan, I would cool my engines and get that news flow flowing nicely and regularly panned out over the next week to 6 weeks leading into the mining conference season. He's a savvy guy in terms of what markets like to hear so he needs to plan well. Of course any sensitive news has to be releaseed immediately so some caveat there.

I think SOLG wasdoing equity raises left right and centre and NMM were having to throw more cash at it ... then yes they would sell out as it's a cost to them. But they are in now with 10% of a Tier1 mine asset which quite a few folk in mining industry know is worth £3bln+

So that's £300m to NMM (approx) or they can sell our cheaply and take £60m??

Divestments tend to happen when the asset is costing more than they think they'll get back.

I agree with addicknt, that cascabel is probably too big for them. Newmont are not like Jiangxi or BHP... they are very much the little guy out of the mix. Medium size. They are more likely fodder for a major. Now there's a thought.... what happens to the SOLG dynamic if BHP bought Newmont??

Lots of swings and roundabouts out there in the mining industry. Even Glencore is in the sights of some larger or similar sized players. Consolidation inevitable across sector.

Addicknt, I think it could anyway... Newmont could hold but BHP could sell. Even Jiangxi could exit. Who knows. But I think generally... even the majors are not stuipd when it comes to divestment. They have departments which are specifically set the task of finding cost savings, gettting best price for assets or deals etc etc. Newmont are not going to sell out cheapily. Thus far, the default mentality is that neither have made a bid for SOLG so neither are interested. That's nonsense and a fools perception. No super major or mid major will ever say they are 'interested' in a business which they have set their sights on acquiring. It's the opposite that they like to spin. Usually you get the saying...'it's not a fit for us right now' mmmm all that means is that they can change their minds or should I say... tell the real truth when they like.

We have 3 very large mining companies on our books owning 32% ish collectively. That tells you all you need to know. All 3 are in the game and all 3 could make a move at anytime that suits them.

FWIIW.. I think any formal approach to NMM for their shares will come pre bid. That's the usual tactic. Agree a number of commitments and then launch a bid saying you have 30%+ commitmented shares etc etc. That tells anyone like BHP what they are up against.

I don't think any of the big 3 are going any where fast but at some point... someones gotta make the first move as i dont see all 3 pitching in as a consortium.

I'm very happy with Dan's comments and general attitude to the early phase of Exploco. Spot on with what I was hoping which is that they will give a minor stake away for early funding which enables better understanding of what we have so drilling on Porvenir foremost but also looks like some budget to do some other licence blocks. Now... although a bit sketchy.. I think he was intimating that if that goes well then there may be a reward for the early investors or partner eg... feels a bit like an 'earn in' agreement being etched out. Add to this his comment regarding partner bringing in boots on the ground (that's my phrase) it feels like it's pointing to jiangxi or valuestone and if not them, then perhaps Newmont. If it is the latter then I think it's also a protective measure in that we need Newmont to retain their stake in SOLG near term until we can get things progressed more and sp recovered. Dan is clearly an 'aussie' and I think he's going to get along just fine with Newmont.

My guess is $25m for 15% of exploco but with earn in opportiunity for another 10% if decision to progress Porvenir to PFS. Need PEA sorted first etc.

So watch this space guys... I think he's already got the cornerstone investor lined up so just a question of being smart and managing the newsflow with the sp recovery. If TAM news great... on the next 5 holes, I think that might pretty much confirm the viability and the remaining 11 holes just going to add more weight to it.

The game changer for TAM is metal prices. I think if they looked at TAM in same way today but with PoG at $1800oz etc, I don't think the story would be as strong.

Getting an open pit resource underway could be done in 24 months possibly 18 months if they really motored. Cash flows could be coming in as early as Q2 or more likely Q3 2027. That would be massive!

We are alive and active again after being asleep for 2 years under Bob's floppy bat. DV knows the numbers and how investors/funders think. That's something we've not had in a CEO for many many years.

Having a chairman helps and is essential if you want funds and II's to buy into your company. With that box ticked now, it's much easier to attract II's.

A clear plan and strategy is the next big one that II's like. So the plan for a development business (ENSA), spin out exploco and then subsequent rebrands is what they want to see. SOLG's biggest issue before was that it had two types of investors. One type wanted to invest in a Tier1 mine and ENSA but not have the complications of exploration/capital raises etc etc. The other cared little for heavy capex and risky development and wanted a pure exploration play.

A few of us are happy with both. But once that split is defined and done, you'll see a different style of fund or II get involved in different parts.

The lassonde curve is important for many and you can't have a business on that curve which is coming out of exploration phase and into development phase whilst also seemingly starting the process all over again with some blocks.

SOLG has had to ring fence funds for ENSA vs other exploration/ business ops in the past and it was complicated and messy. Going forwards all investors will know which one they are involved with or have option to be in both.

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Sp climbing back up the wall like a badger at clarksons farm.

What a shake that was.

I do hope those that sold get another opportunity as if this ends up going into bid rumor gossip... it will be into the 20's fast.

Wow! Look at that buying.

Jiangxi only have 0.8% to play with before they have to declare a TR1. So there's no way they'll be able to scoop up in open market unnoticed. That said, Valuestone could buy up circa 100m+ shares I believe before being forced to declare as over 5%? Valuestone are chinese so ineffect proxy for Jiangxi even though they often are shown to be independent.

Volume way too high to be retail buying. We have big fish involved. Someones smelled blood is my guess.

Would be typical... just when SOLG story starts to look great again... pooooofff in comes bid and bye bye SOLG.

The intraday dips are getting bought into heavily.

if they just sat on their hands they might be better off but instead they are aggressively buying whoever they are.

I guess if you plan a bid in 40's or 50's then buying at 12p+ is a no brainer.

That's my assumption of course.

Thanks pbow... good to be corrected. So $100m spend commitment.

I think that 12.5% stake is worth around £7m right now. Likely to be worth around £14m in not too distant future is my guess.

With $20m (assuming they got that) we could get Porvenir PEA sorted and drilling done ourselves. Interesting potential cash pile there which whilst isn't that much in ENSA scheme of things, it's enough to do a years worth of exploration on a number of blocks.... eh Dan?

They paid about$120m I think for their licence blocks. I wonder how much they would pay for a slice of our Exploco?

The south has infrastructure all in place. Ironically, out of all the SOLG assets, I've always thought Porvenir would be the first producer due to the fact it's already within easy infrastructure and easy to mine. But Bob and his cronies mothballed it for 2 years to focus on selling ENSA.

Now Dan... lets get these very fine asset moving again.