Member Info for Fortissimo

An EGM can be called at anytime. Just needs a number of shareholders to unite and form a group.

Personally I think the failure to replace the chairman is a good enough reason to call an EGM.

There seems zero governance at board level and Bob and his mates are just destroying this company with their apparent 'strategic review'. $100m blown on absolutely nothing. Nothing to show for it at all. Even Franco money is now disappearing fast down the hole due to SOLG poor management planning. Funds gained in July... and no update on one drill thus far in mid December!

An EGM would allow for some heads to roll and new heads to come in.

If his bonus was based on the sp performance then he might be doing a bit more.

At end of the day, the low sp is not ENTIRELY managements fault as markets can go luke warm on any sector as they feel fit. But as I have said before, the reduced liquidity is highly liklely down to the fact that we don't have full compliance eg a chairman in place and therefore some fund managers simply are not ALLOWED to buy into companies who do not have properly Boardroom complicance.

The lack of a chairman is something that is all SOLG's doing. They scaked the last one and they haven't done anything to find a new one based on MD&A's and news releases.

So they are directly effecting the liquidity in the stock which is causing the sp to sit new multi years lows.

Perhaps we could ask if they can return some bonus shares on the basis of destroying shareholder value??

Bozi, the LSE won't be much of a market if it follows your logic.

I think you missed my point. Ineffecient and poor markets tend to get shunned by btter companies... they go else where where they are valued correctly.

I've added a link below for you... it's a retail punter story for you but there are more indepth professional outlooks and concerns on the FTSE and LSE in general but bit more high brow.

The link below is easy reading for you.

https://www.express.co.uk/news/uk/1989259/London-Stock-Exchange-exodus-firms

The LSE actually got off its @rse and started pricing mining companies properly then we would be seeing them fall prey to cheap offers from likes of international firms like BHP and others.

The LSE has lost more majors stocks to other indices this year than every before. The london stockmarket has become a shambles. It was once the leading star... now it's losing credentials faster than Tata Board member.

The difference is, GGP's trading volume was around 36m today. So about £2.5m in cash traded although some will be leverage so represents lower cash outlay. SOLG traded 2.5m shares or around £180k in cash. Not wanting to brag here, but I could have traded a few blocks and accounted for today's volume single handily. That's the crazy thing with these markets. You could have just one or two PI's trading or getting forced to close out T-20's that they shouldn't have taken out like redknight types and other margin called players feeling a squeeze at 7p or lower. In a nut shell... £180k in cash can apparently knock off £15m in value. That's alot of swing and power for your buck isn't it.

Management need to start delivering some momentum news updates and start realising that it's the 'shareholders' that pay their wages and who they work for... not themselves. They answer to us.

Certainly better to be buying at 7p levels than 17p which incidentally was around the area the Chinese forked out a wedge for a 6% stake.

Like I said over the weekend, there are some signs out there that are hard to ignore and can be viewed in a variety of ways.

1. Franco have increased exposure and appear fully behind the asset

2. Osisko same as above but lower capital exposure to Franco at this time

3. BHP and NNM have gone no where. Not a single share sold and not a single share bought in last 4 years+

4. Since the chinese took on a wedge at 17p and added another 1% wedge in open market trades at 18p/19p levels... they appear to be sitting on their hands now like 7p is not an opportunity... or they don't want to have to declare an increase in interest and spark loads of rumours

5. Even the directors and the likes of Irwin and close connected parties to Bob and Mather appear to be sitting on their hands. Why are they not buying shares in open market? They've had plenty of 'non closed periods' to trade in now.

So... all a bit weird innit. It's like Bob and his chinese buddies don't want the sp moving higher and also don't want more shares at these cheap prices. Makes you wonder why? Unless Bob plans to do a cheap equity raise and line all their pockets... but that would be an odd one as goes against what he has said. That all said and done, he's said things before and not delivered on them and lets face it, an opportunity to line his own pockets on the cheap has not passed him by before lol! Hence why he's here.

Addicknt, yes I know you will... usually every morning. Like clock work. Almost like a bot.

Bozi,

It's up to how people choose to read things at end of the day. Been like that for centuries although the last 25 years we seem to have slipped into some kind of factoid generation that needs a google or algobot to confirm their thoughts., Whatever happened to joined up thinking eh? What happened to the pencil? We move on... but I'm confident the smaert one sout there know how to read between lines.

I'm bullish on SOLG resources and bearish on SOLG management and mindful that believe it or not, the latter can really xxck it all up if left to do so. Luckily, I think Franco will make sure 'changes' are made or else... there will not be more money handed out... well... not without a substantial uplift in the stream deal.

Why I am venting off now? Well... I've waited 6 months now for some operational news. Real operational news progress. And I simply can't believe that this management team haven't delivered some. It's time they were held to account and delivered monthly updates that show progress. Thus far, they have done next to zero.

So where's the Update for all the ops works done over the last quarter than Scott? Or do we have to wait for the MD&A and pick through the lines whch many barely bother to read as that's more convenient for you??

Addicknt, I believe they insisted on a minor contractor being appointed. One that had a reputation for not stringing things out and wasting cash. If you read the RNS's, the important jobs that was previously down to Scott's team, have now been moved over to the recently appointed experts - G-mining.

Next time, don't ask silly rhetorical questions. You know the score. Although most know, you have a rose tinted glasses view of this pathetic management team.

FTJNY, nope, you're wrong again. All in your head I'm afraid. I've not sold a share for a long while and have been adding. As I have said... I'm bullish on the asset and like Franco... willing to put money behind it... but I know... like Franco do... that sometimes you need management additions or changes when things don't go as they were menat especially on operational front. Lets face it, we can't all just sit and watch a team flounder around losing cash each month can we?

As for 4 years ago... yes sorry about that. Sorrt about being bullish and then covid arriving. That put the wobblies up me and yes I did sell out and then buy back in. One of those roller coaster once in a generation events that lets face it had most heads spinning for a while whether through the virus or through something else.

But you've got me wrong i'm afraid. I'm just someone that is prepared to 'vent' off when needed rather than hiding behind my shareholding and not wanting to say any negative points as feels like i'm pi55ing into the wind. Sometimes 'change' only happens when you get pi55ed on?

FTJNY, have a read of this and let me know if you're happy with Bob pulling the strings here with his Osisko buddies??? And how things are going... do you feel safe in Bob's hands? Do you think the market has downgraded SOLG due to Bob and his team's involvement?

https://www.theglobeandmail.com/report-on-business/industry-news/the-law-page/dundee-takes-on-high-profile-mining-banker-in-cutthroat-court-battle/article19716946/

FTJNY, nope. So you'll need to apologise there. I hold more stock than ever before. I'm invested in the asset but hugely disappointed by management's inability to get the job done.

So venting off is entirely up to me but I assure you, I'm 100% invested and 100% sure my comments will make diddly squat different to the share price.

Some of us are prepared to vent off rather than remaining quite for the weak fear of shooting themselves in the foot. Perhaps the real disingenious ones are the ones that do just that eh FTJNY?

The irony is, they need to drill unproductive (lacking in resources/and at shallow depth) areas so they can stick all the crap on while the extract all the lovely stuff. Last thing you want to do is stick your tea rooms and swanny ontop of a gold rich shallow rich vein. You'd literally be shi''ing on your profits. Quite befitting then to give that task to Scott... he's very good at turning shareholders assets into crap.

The scary thing is that Scott 'apparently' has been planning the drill sites based on extensive work with his team for the last 24 months lol! 2 farkin years to find the rights areas and they still don't have much confidence. Just imagine where we would be had g-mining been employed from the beginning of Scott's tenure ... we'd be a year ahead now. Instead... we are another year behind and about $100m in cash has been spent and I'm not sure Scott can tell you where that money has gone. Because there's farq all to show for it. Inept bunch of .......

And guess what... if anything negative comes out of the geotech drilling then that will be down to G-mining. Bob and Scott will squirm their way out of it Dan Betts style and blame the contractors for any issues. You wait and see. Standard slimey management techniques to remove themselves directly from operations. Tut tut.

Agreed... the usual SOLG stringing it out while burning precious cash. What company or management team spend 12 months getting a finance package sorted only then to secure that package and be totally ill prepared to use it?? It's unacceptable to gain cash in July and not be ready straight away to get ops moving. They've padded things out for 6months and it's cost about $12m just on the G&A expenses. Every month needs to be packed full of activity, otherwise we'll not get very far with the Franco cash. It's been a sorry tale of literally seeing an ill equipped an inexperienced CEO trip over the simpliest of tasks. He's been charged with the minor role of finding some ground to stick the tea rooms and bogs on while they wait for the proper G-mining team to turn up and do the real works. Bunch of complete and utter hopless ..... I'll let you fill the blanks.

The CGP boys were never really very good with the 'on the ground stuff' were they!?? I guess we now know the real reason why the market lost faith in SOLG and marked us down. It wasn't anything to do with the asset but everything to do with the weakness of Scott and Bob et al. No wonder BHP and co voted them back in.... they are doing a sterling job at beating the sp up lol!

According to recent RNS's geotech work started in Mid August. Then we hear SOLG are having a 'kick off' meeting with G-mining on November 2nd. Is it just me or have they seemingly gone 'geotech drilling' for the last 5 months and not one single update on progress???

That's nearly half a xxcking year... and we've not heard a bean the drilling results. This seems to also go against the companies much promised 'regular updates'.

What the xxck is going on. Feels more like they've done fark all since getting franco cash and just been waiting for G-mining to pitch up and start works. Which bascially means... yes ... you got it... Scott and team doing absolute zero as per usual.

Where's the update Scott?

Sid, there's a bit more to it than that but yes... it's very much about the £750m on the table as whilst the 'market' as disfunctional as it is has given up on SOLG, Franco/Osisko etc have certainly not. The money is there to get this wonderful asset to the point of a final development decision. The market (historically) hates that kind of longevity... the market wants equity raises... the market wants opportunities etc etc... it's essentially a fruit machine/casino mechanism and doesn't handle companies like SOLG very well valuation wise as it will always choose the 'failure to meet' investment / development decision mantra vs the ... Tier 1 mining great that Alpala is set to become. No one knows whether G-mining will nail the Tailings drillings first time. No one knows what's nailed on until it happens. It comes as no surprise at all that Scott and his team have been given the task of drilling / testing the non important areas for infrastructure and developent... like the tea rooms and bogs lol! Franco don't want Scott anywhere near the drilling on the tailings. That's why G-mining are involved. The experts. They are very aware of ecuador. Very matey with chinese and Lundin et al. For a moment, one might even suggest that the 'consortium' owned SOLG is already underway lol! But for now, no need to declare that. Lets just see what G-mining deliver. There are always risks going forwards and the market will assue the worst... why wouldn't it... afteral, it's getting nothing for pricing stuff in as equity raises will be zero for them.

Ecuador's elections next year are often cited as a concern but as many have said already, both main candidates are PRO-mining... and there's no chance of this changing. So that threat has gone. But that won't stop the market pricing in some kind of unexpected dinosaur type event wiping out our asset and leaving us all with nothing.

The market was happy with the Franco/Osisko deal a whiole back when announced it got excoted and the sp tested 13p. Hardly 35p+ high levels of the past but the point is, nothing has changed since that announcement. Nothing at all. Yet the 'market' has drifted SOLG back down to almost half that price at around 7p. There's no logically reason for that.

When I look around at the main shareholders... I see the same lot there. BHP, NMM, Mather et al. No one has given up on SOLG. No one has exited. Franco have increased exposure as have Osisko and recently Mather has bascially chucked everything into DGR to save it and retain that interest in SOLG.

That's not negative. That's all positive. Which begs the question why so many seem to be posting such negative drivel of late. They conveniently avoid the facts and just spin negativity to suit their trading positions as they've exited but of course will be re-entering and cheaper prices if allowed lol! Same old... same old shiiite.

China's central bank resumes buying...

After a 6 month+ pause, they appear to be back buying up Gold to boost reserves.

Could see $3000oz in next 3 to 6 months.

They could of course buy up SOLG and boost reserves far cheaper.

Essentially the specials opens the door to a simialr style deal like that seen with Wyloo and GGP but obviously on much better terms further down the line. On that basis, the only way BHP can get a hope of taking SOLG over would be to bid outright. So ineffect the passing of the specials should help bring an end to this cat and mouse game.

The last 18 monthshas been very nice for buying up important voting shares and supportive ones at that.

I wonder how many the chinese own? I guess we'll never know if all through smaller entities and sub 1%. But 300m+ shares were bought and seemingly tucked away based on transactions and volumes over the last 18months. IMHO of course.

Good to see Mather retained with larger vote than previous years but still clearly a few out there voting against him... I wonder who they are lol!

Remember Franco are here because of Mather... not Bob et al, so rather crucial that Mather was retained. So good news.

I guess the outcome here is that we can all see that BHP and NMM are voting in favour.

Does look like some behind scene's chats with larger investors have been going on. I wonder what they've been promised for their compliance and support??? Mmm. Bob and his bat suddenly playing nicely?

Bozi,

SOLG also have huge upside. You can't just say Filo ... "appear to have much more exploration upside on their licence given the alteration zone not explored."

They are years behind and the real point of comparison should be in the fact that an acquisition was made long before DFS. Long before many of the derisking events required.

Yes Filo, could turn out to be huge. But that's an 'if and a but'. SOLG's Alpala is already 'huge'... so huge infact that it's highly likely that the full resources that lie within that asset are not fully extracted. There's potentially a Tier1 mine there for the next 50 years. You can't say that about Filo.... well... not yet.