Member Info for Fortissimo

Eish, it might have sometihng to do with a spin off listing / IPO for the regionals. Trouble is, we don't really have staff or knowledge to explore anymore after Scott got rid of them all in an apparent cost saving exercise. He's since out sourced all the 'brains' work to g-mining on ENSA. I don't think it would be smart to outsource the exploration on regionals... too sensitive especially when g-mining are working for many firms in Ecuador.

I guess it's not that hard to start to to employ more staff once the regional spin off gained an IPO etc. Trouble is, it would take a year at least to get any spin off listed and ready to drill holes.

There's nothing 'finance' related to discuss on ENSA/Alpala. It's all sewn up with Franco and Osisko through till 2026. So it certainly has nothing to do with our main asset.

Thus my conclusion is it either relates to regionals spins off as equity issue from the mother ship not possible... but spin off would be funded through equity.... so some dilution there but hey ho the market values it at zero now so not real issue there.

Only other thing it could involve is 'merger' talk. As I said a while ago, one way to join some dots would be a merger with a firm like Endeavour Mining. It would solve many problems and make a takeover just as possible but at a higher price as both are undervalued. Endeavour have cash flows and could finance aggressive regionals. Would suit Bob as he'll seek an exit via his canadian buddies and exit stage left.

Lets see what happens but clock is ticking and Mather needs an monetisation event as he's put all his chips down on this one now.

All quite intriguing really. Fly 6000 miles to London to have a pint and talk about nothing without even updating a presentation of any significance.

I'd a hedge a bet and say they were here for something else and pi's got the usual mushroom treatment while some more important firms or outfits got the real deal.

Something cooking for sure and 3% of stock traded in large lumps in last 3 days.

There's always something going on when you have a $3bln to $4bln asset on your books.

The sp largely irrelevant to BHP and Newmont as neither look like getting any chances of gaining equity at these low levels. The low sp means nothing to them as they know that any bid pitched to SOLG will need to be based on the asset and industry benchmark pricing.

There are pro's and con's with the asset being derisked. One one hand it's good news for them if they intend to buy the asset. On the other hand, it's taking a very long time and these majors need future metal resources advanced fast not at SOLG's snail pace. And of course...they are losing out to Franco and Osisko each time stream deals are done.

It's a problem for likes of BHP and the sp is irrelevant. The market could price SOLG at 30p+ ina. weeks if it had reason too. The asset supports it. Unfortunately, we are in a time when the markets are discounting junior miners/explorers by up to 90%+. That can and I think will change as rates begin to fall this year.

Does soemone have sight of Norges holdings and can they confirm whether they have added as saw someone say norges now at 3% again after being 2.6% for a while. They might have bought one of the 14.6m blocks???

Ahh.. just seen your opening post at end of thread.

Well good on them.

Jerryspaniel

"Its definitely not a jolly, as Scott, Chris and Sean are all travelling overnight economy, which is something I wouldnt do from the Americas." END

How could you possibly know what type of flights they are taking? Or am I missing my issue of the SOLG club newsletter?

SharketMare, I doubt that. The reason the sp is where it is has more to do with lack of engagement with fund managers and marketing the company to larger investors. They have no interest in doing that. If they did then they would be doing road shows galore and they would have sorted the chairman role long ago. That's prevented many large investors from buying in and I suspect quite a few have exited because of it. That's very poor by Scott and Bob.

So to think they are worried about retail investors look way off... if they don't work hard on the big investors then they really don't care about the little guys either.

Feels like they have agreed a sale long ago imho and are simply working through the required boxes that the buyer wants ticked before signing on the dotted line. No need to tell the market any of that until the boxes are ticked etc.

Certainly explains why they don't give much of a t055 in terms of proactive market engagement.

That and the reality of there being zero operational progress since Scott arrived. I don't think he's actually drilled anything deeper than a hole to sheete in.

DBW, I guess it depends on whether they are here to finalise something/sign etc or whether it's a early meeting with some london outfits who know how to get things done whether that's finance, merger or sale or knows. But usually a trip to the lond financial centre is about capital/asset discussions.

It won't be about equity finance that's for sure as the company have made it clear that there will be NO dilution at these levels. So perhaps synidicate bank finance ?? Not sure on that myself as Bob tends to like his canadian finance buddies more than London spivs. Poss delist from LSE and move to Canadian market lol!

I'm kidding but you have to remember, it's Bob that we are dealing with here.

Perhaps they've finally decided to look at spinning off the regionals into a NEWCo??? They would need a London discussion on that one for sure.

There will be 'other' business to do in London... the main business and purpose of their trip no doubt. So why not do a quick PI 'stroking' event while you're over here.

Just a hunch but I think a 'merger' is on the way.

They don't seem to interested in doing very much news wise. They don't seem interested in sorting the chairman position. Share prices don't matter much if you are going to agree a share ratio deal based on 'value' of assets etc. The merger partner may also be deeply discounted etc.

Regionals might kick off again if you have an entity that can finance that aspect through cashflows.

News headline might be... new mega company formed to push Ecuador mining to new frontier etc etc

How exciting hey Bob? ..... who'll incidentally, will exit left when the bigger firm has liqudity and interest. Just a hunch!

That's the 3rd 14.6m block in as many days. So almost 45m traded all at or around 7p.

1.5% holding there. Wonder whether it's Norges exiting?? Have to wait until Feb 1st to see what the fund managers have been up to but Global X did hold around 50m shares ish at last count so could be them.

Someone's bought them.

"If Solgold ever come good, DGR will follow…"

And there lies the reason why some are invested in DGR and continue to invest. Plenty of pro's and cons's with investment vehicles like DGR but the market recognises this and presents investors with a huge discount and huge upside opprtunity. Run the numbers now and I think you'll find DGR presents the best outcome for an investor based on SOLG being sold for anything near market value or even poor market value. But the risks are higher too due to dilution threat at DGR level... not SOLG level. That said, the Franco / royalty deals have helped DGR investors as they continue to hold a meaningful slice of SOLG. But lets face it, if SOLG goes it alone (I don't think they will but assume they do) I think the final funding phase will need about $500m of equity funds. That might happen with an sp nearer 250p+ ... who knows... but there's no way the remaining $1bln will come from banks and stream deals without shareholders having to put more skin in the game. It's standard stuff and SOLG management have aleady said so, although not put numbers on it.

So as you can see... the DGR investment in SOLG is highly pinned on an asset sale. Mather doesn't want to go it alone. Bob doesn't want to go it alone. Scott doesn't want to go it alone. Yet here we are with all of them telling the market that we are on track to go it alone lol! It's not going to happen. But they could merge with another company ... get some better liquidity flowing and then exit themselves by selling chunks into market and higher sp.

There are big moves going on in the commodity market and miners are consoldating fast from small to medium to super majors as all jostle ahead of the next metals boom. The juniors are the last to react, but when they do, the share price rises will be like dot com boom days imho. Patience required. Although not for DGR... it's a real ticking time bomb there. But perhaps that bodes well for all that are seeking a sale.

14.69m share block transaction hidden from Jan 23rd and buried into Friday after hours when no one is looking.

I think there's a name for that kind of shenanigans.

Naughty, very naughty.

Just where does this stock come from? There seems to be a never ending supply... and never ending buyers... just not in normal trading hours lol!

Roll on next week and Scott's webinar update where he can tell us all about the huge progress SOLG have made since they bagged $750m in June 2024.... based on milestones achieved of course.

Anyone fancy as merger with Endeavour Mining?

So SOLG Webinar on Jan 29th booked in would suggest they have something to say before then or around then.

That would have given G-mining around 2 months albeit with some days/weeks absent due to festive period.

Remember, Scott and co have been charged with drilling some test areas to make sure they don't stick the bogs and tea rooms ontop of a rich vein of resources. Low grade work. Meanwhile, G-mining have been charged with doing the geo works on the extremely important tailings target or targets.

Considering assays seem to take months these days, I can't see how they can have anything to report.

We've not heard anything material back from the meeting with g-mining in Oct/Nov, so if there were any delays or change of plans then they would have had to announce to market well before now. So all looks on tracks and looking forward to seeing the progress made Scotty boy considering you have had over 2 years now, blown over $100m in cash and shareholders have a share price near rock bottom... some might say.... it's been a dire period under hiscontrol. Apart from one private investor hey Addicknt!

Key quote for me is

"The prospect of a deal between Rio Tinto and Glencore will raise fresh ­concerns about the shrinking London Stock Exchange, which last year suffered its biggest exodus of companies since the financial crisis.

Eighty-eight companies delisted or transferred to rival exchanges in 2024. Both miners are principally listed on the London Stock Exchange, meaning any merger would shrink the total ­number of companies listed in the UK." END

That says it all.... it's not just minng companies that are poorly valued on the LSE. More and more stocks on the LSE seem to be trading at a big discount compared to overseas exchanges.

The death of London as a city market has been happening for a while now.

Sad times but that's what happens when you let the spivs run the show.

First you need a mining industry ... and one that has been established for 20 years+ before you start thinking about nationalisation. The latter would kill any hopes Ecuador has of reducing debt and boosting GDP as no super major would go anywhere near it.

Further down the line, the biggest fear for big miners is 'taxation'. That tends to be the one issue that can't be contained as each country has a right to adapt to various global issues... just like UK raising rates on businesses etc.

Investment protection vitally important and with roughly $3bln to $4bln + required on Alpala minimum (forget Scott's baby pfs... that will never go into action... well not if a super major gets involved)... so it would be years and years away before Ecuador could tap into the profits beyond what has been agreed. In 25 years time when licence extensions are required etc... well.. that's when things can change.

Bankable loans... predictive text for you! Quite like banable ones though!

The importance of such a resolution rests with the final development funding which is obviiously key to the Franco $750 decision due in 2026 I think. If for instance SOLG did agree on a decision to develop the mine, then they would need to prove they can fund part of it from equity as that's standard stuff when dealing with banable loans in future and royalty streams that might include the copper aspect. Basically... shareholders would be expected to put some skin in the game... oh the irony... after shareholders have essentially funded this through to where we are... but that's markets for you.

So in a nut shell... this piece was required to ensure the market 'believes' in the bigger picture. The truth is, the market won't 'believe' in SOLG developing Alpala until it happens.

If the share price were to increase to above 20p, then issuing equity on a large scale eg 1 billion extra shares etc might make some sense if raising $300m ish.

But at sub 7p or even sub 16p, there should not be any equity raises at all. If there are any raises, then it would be significant failure by management and they should be for the chop come Dec.

BHP did have rights to ensure they could maintain their stake at 10% or higher I believe so don't think they can be forceably diluted below 10% without being offered an opportunity to partake themselves. That rule or right might have passed now but not sure to be honest on timelines of their original deal with Mather.

I think that 'exploration opportunity' horse has bolted now. I think the market would react poorly to anything issued by Scott now. It can't be funded via Franco cash so would need to be via a JV or new listing/vehicle style partnership as equity not viable at 7p levels and certainly not accretive.

I also think the market is not impressed with the slow progress made by Scott and his team. Lets face it, G-mining might be experts (much needed based on Scott's inexperience and reduced staff / team) but even they can't turn things around that fast. They've only had about 8 weeks to play with and 3 of those were festive holiday periods. They should have been appointed in July... not October/November.

So important right now to show the market that SOLG can actually execute something properly and get the much needed phase 2 cash as the money wasted over the last 6 months doing SFA must have eaten up half of it... leaving no more than about $10m left right now (remember... $10m got gobbled up via the bridge loan, so tranche 1 was really $23m and not $33m as that $10m got burned well before July.

Slow progress = inept management and it's costing shareholders shed loads.

Agree, you'd think we'd be talking about more recent TR1's especially at these levels. But as already remarked, I guess the chinese et all are afraid of spiking the sp.

Also, no signs of fund managers buying in big or investment firms like blackrock et al, probably down to the simple fact that they many are not allowed to buy SOLG stock as it's a company that has failed compliance down to being without a Chairman for over a year.

That one is entirely on you Bob.

"one of us has called the last couple of years quite well"

mmm. Yes indeed. You've been negative on SOLG for a while now. Infact, we did have this discussion a while ago (your memory failing again??) and I highlighted the fact that you had failed to follow your own negative views on SOLG as apparently you haven't sold a share, yet talked the stock down for 2 years. Curiously one that. Here's a tip for you... when at 22p levels, you sell the lot if you think things are looking weak. Then you talk the stock down and buy back in cheap and pat yourself on the back.

Or... like you Bozi... you hold at 22p, talk the stock down, remain negative, tell everyone that you've called it well but in doing so you've lost a wedge and pi55ed on your own shoes.

You are the finest. Your are the greatest. I've never seen self inflicted loss making quite like it.

As for aliases etc... well... I guess that's the reward for telling folk a ramped up stock (you know the one) is overpriced at 38p and destined to go to sub 10p... I called that well... in fact... if LSE was consistent... I think you should be banned then on the same basis don't you think after you amazing SOLG call??

Perhaps you shoud have a word with LSE and get yourself removed? Reward at last for you?

Bozi,

You really are showing your lack of knowledge and making yourself look the numpty that I think many now can see you for.

You say... "Did Norges tell us every time they went through a % threshold when they first accumulated?"

Why would they?? They don't have to notify until they break 5% (international rules) or 3% threshold for UK based.

BHP would have to notify the moment they went through 11% level. They would have 24hrs to 48hrs to report.

Yet again you show your lack of knowledge. You really don't know very much at all about markets do you?