Member Info for Fortissimo

Bozi, I think the phrase of 'when in hole stop digging' springs to mind. You really think BHP buying 5% in open market is achieveable at these levels??

You really think the idea that if they were to update that they have crossed 11% threshold taht the market wouldn't get a bit excited?? You think that's feeble??

Jog on.

What's BHP's total investment in SOLG??

I'm going from memory here... 100m shares at 45p = £45m. That was a circa 5% stake I think. They then bought a wedge off Bob for 25p, which was circa 5% and then took more in the 26p placing which got them to 13% before being diluted back to 10%.

So that's £90m (approx/rough!). Average paid price close to 33p a share.

Now lets take the real investors here... Franco and Osisko. Franco have already done $150m (note dollars). Osisko have done $50m. Further to this, another $33m has been chucked in with anothr $67m cued up for 2025. After that, we are looking at a further $650m being tabled or offered.

So even on an early investment basis, Franco are ahead of BHP in terms of cash deployed.

The chinese took 6% at average of around 17p as bought 1% in open market from blackrock (my guess on blackrock). So that's about $50m if you include the $5m for Porvenir.

In total, Osisko, BHP, Franco, Chinese and NCM (NMM) have bunged a total of about $350m into SOLG. And there's about $700m lined up subject to milestones and various development decisions.

As Orpherncopper recently said... 'No one is bidding for this junk..' END.

Well, if all goes to plan, the above will have bunged $1.1bln into SOLG.... apparent 'JUNK'.

They must be mad or ermmm, perhaps Orpherncopper is writing the current $350m spent as irrelevant and the future $700m left as ermmm... unlikely.

Bit of advice... always follow the money and ignore pi's that clearly know alot less than the big boys with big pockets.

Bozi, as smickster has already explained the obvious to you I don't think I'll bother with the rest. I thought you knew how markets works? Clearly not.

If either the chinese or BHP or NMM had to declare an increase in ownership of SOLG, even you would find it hard to find a negative, but I have no doubts you'd find one.

Are you and orphencopper the same poster?

If BHP or NMM are not interested, then I genuinely think they'd sell stock in open market as an act of spite... as that's what they seem like based on past antics. Like babies that didn't get their way a few years back (NCM at the time) toys out of the pram etc. The point is, the investment value eg 20% could be as much as £400m or £500m by the time a sale is done. So it's not minor bucks, but equally you could say if they are holding then they see worthwhile value. Lets face it, even £250m per company is smallfry. So the fact they are holding is likely due to the nature of the mining business. They don't want another competitor getting Alpala at a cheap price and they have a 20% vote on it. Or... they see opportunities ahead whereby SOLG or Franco or Osisko stumble or fall out ... funding is off and they can sweep in and take it all on the cheap. For the likes of BHP, it's probably the latter as a coin toss. If they sell up and move on... they lose that opportunity. Ask yourself this... if SOLG pitched an equity raise to BHP at 20p a share for another 5% of SOLG... do you think they would take it?? I do. But it would be verging on suicide by SOLG management.

NMM, I think you also need too offset some of the metal pricing (uplift) with inflation and rising capex.

But agree, there's alot of value in those cascabel hills!

Actually looks like a connected company so ... thus initial post valid.

Ignore last post, g mining a different company to g mining services.

Busy little bees... one thing is sure... they know how to get the job done which is a relief as our CEO seems incapable of even finding the right spot for the swanny.

https://www.mining.com/g-mining-receives-interim-environmental-permit-for-oko-west-project-in-guyana/

Https://wp-solgold-2023.s3.ca-central-1.amazonaws.com/media/2024/11/November-2-Corporate-Presentation.pdf

Page 7 speaks a thousand words. World class asset and way way better than anything else out there.

Judging by the AFR aussie article today, I'd say a large aussie mining company is starting to get a bit scratchy lol!

They have a long long way to go on filo... that won't be producing until 2030's and that's assuming it turns out to be what they think it might be.

The article is actually quite encouraging as it's clearly a dig at SOLG... so someones not happy... it actually comes across as a bit childish and bitter. I wonder who that reminds more of lol!

So two large Aussie miners on SOLG's register and the journo is Aussie based lol! Perhaps someone should point out to him that the 'streams' are not fully embedded and can be bought back to the tune of 50%+.

Someones feathers have been ruffled... I wonder if the rumoured Canucks connection has got a few irritated. Certainly feels like that on this BB lol!

Bob ... canadian based.... vs the aussie base crew.

mmm... it's hotting up.

"the loose coalition of colourful characters"... I think the author showed his colours there.

Wonder how much BHP paid them to write that tosh. Aussie sponsored tripe.

Interesting to see that since Blackrock exited SOLG 2022, they then seem to have jumped straight into the rumoured SOLG bidder, Endeavour Mining.

They've gone from owning zero to building a 12%+ stake. Interesting times.

https://fintel.io/so/us/edr/blackrock

I think there's a few ways the 'TRUMP' cards could be played so the markets will swing with his rhetoric foremost but assuming he goes for the growth and realises he needs chinese to take part in that, then by all accounts I can't see a scenario whereby COPPER is not the markets go to in 2025.

I think PoG has had it's 2024 party but still some 15% upside ahead in 2025. Bitcoin and crypto looks a bit stretched to me and toppy. The one the market has neglected for last 2 or 3 years is Copper... so in theory it's time it had a jaw dropping run.

If SOLG can get the phased funding through without much delay, then stock could be in high demand especially against a market hot on copper and majors looking for copper rich resources.

I don't think Scott or Bob can afford another year of drifting.

There's not a tier1 mine that is 100% owned that has gone for sub $3bln that I can see, so 10p would be poin but there is always a worry that someone like Endeavour makes a paper offer which might value the combined business at $2bln with SOLG shareholders gaining 49%. That would be a poor outcome if or assuming BHP would not counter bid but then some would say there's upside in the Endeavour /SOLG combined business going forwards so could see that rerate by 50%+. Mmm! It's a curious one but does seem like there's a few (bob and his buddies) that would like a more liquid 'canadian' stock to offload. Lets see what 2025 brings.

The market rated Darryl's PFS at 37p+.

Scott's PFS wasn't given half of that. It took about $100m for Scott to get to that and that's after he had moth balled everything. He's cost shareholders a fortune.

The crux report was proven to be woefully inadequate in many areas. SOLG's PFS was signed off by numerous industry 'gods' and experts. I think they knew alot more than the writers of the crux report.

The bottom line is... the market was happy with Darryl's PFS. But then covid kicked in, high inflation followed and interest rates spiralled. Which resulted in the market shelving a bucket load of high capex focused projects.

This was a big blow to SOLG as we were left with a PFS that was for a super major to take on and as such we were pushed into a tight buyers market. With the cut down PFS, lower capex, we have a more mid cap friendly project basis. It's still $1.5bln+ so not smallfry, but it's better suited to the market backdrop of moderate rates and sticky inflation.

The market has zero faith in Scott or Bob. That's why the stock is discounted by over 90%+.

Somehow, we need the market to believe as even after $750m finance package, the market thinks Scott won't get to phase 2 funding. Why else would we be sub 8p?

As and when each phased $30m+ is dropped into our account, then the market might rerate. Until then, it can just price the stock to fail on phase 2 funding requirements and after that to fail on phase 3 and after that to fail on a DFS decision etc etc.

The market will only change it's view on project failure when it see's a buyer come in or when it see's DFS and second half of funding.

If you want a bellwether or insight into the markets mood for miners or commodities, then look at Glencore.

Take a look at that chart and you'll see the downward trend from Jan 2024 and more recently since US elections Oct/Nov period.

Growth slowing, persistent inflation etc etc china slower spend and so on... it all acts to slow down commods and demand.

NotMuchMoney, Porvenir hole 1 had everyone thinking it was a bigger and better Alpala. So yes... it turned out to be no where near as good as Alpala. But lets not forget, Porvenir is still in the top 20 discoveries over last decade or more. It's a very fine asset close to existing infrastructure. The reason bob and Scott did nothing to progress it, was all about cost savings. They knocked exploration on the head and that included Tandy. It doesn't mean that those assets suddenly have lost their shine. Far from it. It's just down to money or lack of it. That's about the jist of it.

As for orpherncopper, we'll have to beg to differ. The chap described SOLG's assets as 'junk' last night.

Seriously... there's nothing well reasoned in anything he says. He has a mission and that mission is to talk the stock down. Simple as that.

Alpala is a world class asset. It's metal mix/resources mix are a smelters dream. Like all block cave mines, it's capex intensive and suited to super majors, but it's got profits in it for 50 years+.

The chances are, the 20% of resources are more than enough for most majors.... nevermind the other 80%.

At end of the day, it's all about IRR. And that increases with more capex you deploy... hence higher scale, bigger spend equals bigger profits.

Yes, 2% down on a pi55sy 500k traded.

If that's 'tanking' I'd hate to see you Paddyboy when a real drama hits.

£35k in cash worth traded ...Oh my word.

Ortherncopper

Stop spotuing shiiite. The assets are world class. Franco know this. Osisko know this. BHP and NMM know this.

The only thing that's 'junk' around here is your own junk coming out ... if you've lost the faith in SOLG and see it as bottom drawer.. that's fine. But why are you here posting every day? It's like you need some kind of confirmation bias... telling everyone that it's all junk as if it's going to bring some merit to your comments. I think Franco know more than you. I think even an everyday mine investor knows more than you.

You're entitle to your opinion as they say but lets face it, you have zero credentials compared to lieks of Franco and yet you seem to think you know more than them.

Trot on and come back when you've decided to check your drawerer even though you know there's nothing in there as you're not holding SOLG shares. That's for sure.

Just imagine for a moment that you didn't have Alpala.

Lets say all we have is Tandy. Well, like Porvenir, it's a very viable mine by itself. In fact, Tandy could easily be mined as a low cost start up mine. I know it's been mentioned before, but when you have something like Alpala, Tandy looks a bit like a sideshow ... overshadowed and not really of interest to a Tier 1 mine developer. But to a smaller miner, Tandy is perfect. Haven't looked at the detailed numbers but based on potential shallow open pit high resource, I reckon the IRR on that as a separate mine could be close to 40%. That's easily fundable.

Just a shame that our management team are so one dimensional that they can't seem to do more than one thing at one time eg; Porvenir parked. Exploration parked. Everything parked while they struggle along trying to look like they know what they are doing with a Tier 1 mine.. when in fact, the truth of it is they are just buying time... stringing things out and frustrating potential buyers as 'time' starts to cost when you are a major player that needs resources and needs them fast.

Tandy should be a priority imho and that's in past tense. It should have been focused on 2 years ago.

i'm guessing our cash pile is down to $15m at best right now. might even be lower due to these stalling ****s of a management team. franco will not be happy if they go cap in hand again... but guess what... oh... g-mining have said they need to do another review (me guessing here) and that scott's work was all a pile of shiiiite etc.. of course it will be dressed up as g-mining having some 'optimisation' thoughts lol! lets see what happens... as there's normally a good reason for not getting an update and that's because farq all has been done!