Member Info for Fortissimo

Remember.... Noboa met Trump pre elections. After that meeting ... he won the elections by more than many thought possible. So what deal did Noboa sign secretly with Trump to gain his support?

Mmm... combine this with Trumps recent 50% copper tariff and then throw in his decalred desire for rare earth minerals along with copper et al. It looks to me like Trump is looking to secure US metals supplies and wrench them away from China.

Chinese might lose interest in Ecuador fast if they sense Noboa is aligning with Trump. That said... Trump will be gone in 3 years+ time and no doubt Noboa will follow at some point so change is change and a mine life of 50years+ will see many changes behind the wheel.

Thank goodness we have the international arbitration court behind us. As well as investment protection.

Looks like they are selling into the news.

They had about 25m shares left - so might be suppressed for another month unless Dan can persuade them to reverse and start topping up. Thus far they have dumped 25m shares since Dan arrived.

FWIIW... Slavery is very much evident across the world and more so in western world.

It's called PAYE.

If you are employed... you are a slave. If you are self employed... you are indeed free from slavery although there are some instances where you are not!

I'm not sure I've seen a small cap raise close to 10% of market cap in cash giving up to 12 months funding and the market not price in more than the £23m raised!

Weird stuff... I guess the II's have got to be invested before they pump the stock these days. Seems to be the case. And SOLG have close to zero II's and certainly none over 3%.

When Blackrock, pru, fidelity and others were well involved 5%+... you saw a stock perform inline with asset/proving up stage.

We need the casino / bookies to be invested as then and only then will they allow this stock to flourish.

TSF is ongoing as Tandy drilling very much part of that.

Important thing is that 'funding' is sorted for next 6 to 12 months based on an aggressive and fast on the ground operation and that paves the way to a more receptive market when hopefully better news drops like some stunning assays on Tandy... one hopes.

Not long now... They should be done and dusted on the drilling within 6 to 8 weeks is my guess. But you never know... Franco might request more holes if it's looking worthwhile... and why not? Better to spend $5m rather than $3.2m and get it properly defined here and now. That should be the mentality. Do it properly.

G-mining still very much involved and looks like they are now the operational arm of SOLG thus filling the brain gap between management and the drill bit. Remind me... what's Scott doing now and how much is he getting paid... still?

Reading between the lines here... we know that they are running low on cash as the $18m was raised over 3 months ago.

We also know that new funds are going to be required to either pay the Mining ministry fee or contest it legally.

Heading toward year end accounts, they'll need to have the numbers pen'd in and there's only 3 weeks left for them so the 10 days for $33.3m execution will take them close to the line ... but just within time. Hence when report comes out in September... the forward looking statement should look robust. If they had gained funds after June 30th via Franco, then Sept report would have looked ugly to anyone that cares about financials.

Bottom line... ecuador fee causing issues as expected but Franco still on board so that's a huge relief.

That's a huge relief. Looks like Franco can see more value in the eggs than strangle the goose.

As per usual with SOLG, bit unclear what waivers have been given but I suspect it is to do with tailings still being up in the air but perhaps Franco have seen some early assays on Tandy so are bit happier with risk involved.

Without over analysing it... I do wonder whether Dan has some other news that he needs to impart. No point in dishing decent news out if you can't confirm you are funded for the next 6 to 12 months. So funding news first... then hopefully some better news worthy updates.

This is a large monkey off our backs. They need to spend it well and smartly. And not pi55 it away like Scotty boy. It cost us 5% of shares to get here due to delays and failures. Can't afford to have that happen again.

Thank you Franco... you really are great partners.

He's off to wimbledon ... remember... SOLG is a lifestyle company where the directors get richer and the shareholders get poorer.

SOLG losing more II's and fund managers as the no news drifts on.

If they want more II's and fund managers than pi's then Dan has certainly failed in his first 3 months.

So far since Dan took over... our 3 largest fund managers have reduced their holdings

1. Global x has sold off 18m shares since May. They are down from 50m to 32m.

2. Konwave (once a strong supporter of SOLG) have sold down from 26m to 18m shares.

3. SEI have picked up some of the above, buying 10m shares and moving from 6.7m to 16.7m. I think they are US based and might know Perry Holloway.

Bottom line... if Dan is trying to wooo ii's and fund managers, then I seriously hope he hasn't offered them a equity raise opportunity as for they do seem to be dropping stock like they don't like it anymore!!

Addicknt, agree... far more damage done by introducing something like this out of the blue without consultation. Very poor and creates a very difficult investment landscape in Ecuador at a time when they are ironically trying to bolster it.

Rule number 1... always discuss 'ideas' to raise rev with the companies that are there and not the companies that are not. I truly suspect BHP and co are behind this and chinese might be involved too. They can afford the licence fee... the small miners cannot.

So net result is... small firms move out and big firms pick up the licences cheapily.

I think Noboa is quite cosy with Lundin and Codelco. He was invested in the massive mine owned by the pair. So I wonder whether they'll be paying the fee too?

Addicknt, but what if the big miners are needing to change from their old ways due to poor inactivity over the covid years and lack of resources going into the metals boom??

They may have let the minnows do the hard work decades ago... but perhaps they are now being forced to do a new exploration program themselves due to lack of opportunities in M&A?

If you were Ecuadorian minister for mines... you'd be pretty fed up with signing deals with slippery suited chaps like Bob Sangha and Mather on the basis of doing huge exploration only to see farq all happen over 10 years. These 'suits' simply ink ownership of licence blocks and then sit on them.

Out of the 66 licence blocks SOLG own... how many have they drilled?

I think late last year when Barrick signed a deal on some blocks, it was a sign that some bigger fish are having to get their feet wet earlier than usual.

Look on brightside... at least Dan has a justified reason for binning 50+ licence blocks now! Also... it does make you wonder whether this was what so many in the data room were worried about most as no one wanted to do a deal on the regionals that involve cash. Just imagine how they would feel now had they bought into SOLG's regional folio of 50+ licences and now facing a fee that would see them hand most back. Ouch!

There is common ground to be had through discussion but Ecuador gov are completely withon their rights (IMHO) to assert some weight into owning sich licences. Companies should not take the licence blocks on and then sit on them for a decade. That's wrong.

At end of the day... the miners can't expect the ecuador gov to police the hectars from illegal mining for free while they enjoy their bonus shares and lifestyle salaries from a comfy chair in Toronto or London.

Ecuador and Noboa simply wants to get the sector moving and moving faster. It's the investment world/western world that are asleep at the wheel and the problem. They seem to have no urgency or foresight to get their act together to enable the electrification process to accelerate and move away from fossil fuels. Instead, it's the chinese that are doing the good work and what do they get for it.... pony poor journalism and slurs from BBC and western media on mining practices. Is that all the west can do?? Play the twitter/x disinformation game to thwart chinese monopoly on mines? Or perhaps pull their finger out and start buying some mines and investing in the future. Noboa just was things moving... he wants exploration not lifestyle directors and bonus shares.

"China snaps up mines around the world in rush to secure resources"

seems like some are waking up now after being asleep at the wheel for last 5 years

the chinese are way ahead of the western world... smarter... better and far more organised.

Totally agree... i'd rather it was late (it is already)... and be solid and a strong step fowards... than rushed out and weak/flaky stuff.

take another month if need be... the only ones stretched or wanting news are the tiny little traders doing their t-25 trades. They are not important.

Just update the market when they have something meaningful to say. Don't rush it Dan. You'll be judged on what you say not the timing of the announcement. So take your time and get right for goodness sake.

The miners could pay the fee and then just back away from the ESG. No more building schools. No more planting trees... no more financial help regional at all. ZERO. Then let the mining ministry step in with their new found wealth and spend it all on doing exactly what the miners were doing before.

Eeeeediots.

Noboa met with Trump pre elections... say no more. Now Noboa looking a bit like a mini Trump. Lets hope like Trump, it's all bluster to go in big but come out small... but small is better than it was before.

I can only imagine Barrick won't hold back either. The irony is... Noboa's fee is likely to see the small miners hand back licences and the big miners like BHP et al pick them up. I wonder if Noboa got the idea after meeting with BHP recently? Noboa is interested in the super majors... no one else... and you can't blame him for that. They are the ones with the money and deep pockets.

"....Jiangxi position and want to do as much as possible to avoid having them in the driving seat."

Addicnkt

You are aware that the board issued Jiangxi over 5% shares for $18m

You are aware that the board has allowed Jiangxi technical insight into the asset and are actively involved advising SOLG on what best to do

You are aware that the board has allowed Jiangxi to have a director involved at board level (Mr Liu is Jiangxi's man.

Do you want to revise your line above to ... the board are ACTIVELY doing their best to place the chinese in the driving seat and have placed them top of the list above all other shareholders.

What planet are you on?

Eloro,

Give it a break. RodneyT has simply gathered together some or many disparate pi's which can act or demand more attention from SOLG than lots of piddly individuals. It might seem like an irrelevance to you or for some reason a threat... (no idea why) but the end result is that if/when the sheeeet hits the fan, action can be take faster. It might be small 1% of holders now but if the sheeeeeet it the fan many more would likely sign up with speed and that could moe to 3% or 5%+ very quickly. Then you really have a significant 'voice'.

Why would you lambast someone for organising something like that??

Serious mate... chill and leave the guy alone. He's a do-gooder not a bad'in. He's on your side.

Dbw,

I know it was you. It's not a dig. I'm not twitchy... just utterly furious with SOLG management for xxck ups and more furious by the fact that no one has been held accountable. In fact... more people have been rewarded! I'll happily 'chill' if I see an announcement that says... they have booted Scott C and all options stripped. They have built performance criteria into Dan's options with milestones stagered based on delivering xy and z.

Until they prove to the market that they have 'changed' and it is a real 'reset', then and only then will fund managers and II's get back on board.

There is no place for management in this world who reward failure.

In terms of updates.... I don't think Dan has any good news to impart. So ... don't give him to end of the week... give him to August/Sept and then at the very least the sp might stay above 5p.

SOLG was killed the minute Bob and CGP took over. It's taken 3 years+ of proven incompetence to confirm that.

"CMG …. Give him until the end of the week"

If Dan had anything decent to say then he would have said it. It's flippin obvious they have failed on a number of levels. Flippin obvious that they are hanging their hats on TAM as have feck all else that they can afford to do.

Lets put it bluntly...

1. A truthful update on progress from Dec through to June would have the sp under 5p.

2. A truthful update on the detail and what went wrong warts and all would prob see sub 4p.

3. An update on a half backed poor heavily diluted exploco plan would see insiders like Mather do well but rest of pi's will have to dig into pockets or else it's going to be pretty worthless is my guess

Trust me.... it's pretty obvious and has been for sometime.... you really don't want an update from Dan and SOLG.

Wait until August/September and if the wind blows in right direction they might very well have some good news then. Until then... it's better to be quiet and silent ... say nothing if you have nothing positive to say... that's been SOLG's mantra for years now. Why change it?

Panda not far from the truth. All supposition but the timelines suggest the following:

1. SOLG/Scott xxck up on key geo tailings works amongst other things

2. G-mining step in to try and help resolve issue but can't turn a turd into a cream donut

3. Chinese agree to cheap placing but comes with key conditions

a) they have their own team advising and running the show

b) TAM is drilled as that's their preferred option eg start small with low hanging fruit

c) Chinese take out a short in March/April as protection against TAM not working out, Franco walking away and another placing required

4. SOLG have not provided a detailed operational update for almost an entire year!!! Last update that showed they had drilled just 3 holes and that was in 2024!!

5. The chairman is not 'neutral' and acting in all shareholders interests if he is doing other roles within the business too. Can't and shouldn't do both.

6. Now TSX listing has gone, management can continue to keep shareholders in the dark without revealing cash balance on quarterly basis. Not good at all.

So if the above is true (which it may not be) the chinese are the 'NEW TEAM' starting from scratch. That's highly illegal! And heads are going to roll if/when an investigation is launched.