Member Info for Fortissimo

BBG, Mr Lui is on the BoD due to his involvement in Osisko... I believe.

Perhaps the other guys is also connected with Franco?

The point is, as major investment partners in SOLG (more involved than BHP or NCM etc) they have an interest and right to be involved at BoD level.

It's not been confirmed that Mr Lui is Osisko's pick... but he came on shortly after Osisko made their initial $50m investment.

At least the AGM is not tucked away like previous years with Dec 21st or 22nd dates.

I thought Dec 5th was quite early considering you'd want to have some decent newsflow going into that event.

So either the CIPA news or something cooking imho. If not... it's going to be a rather mundane and sorry affair.

I think Dec 5th is the earliest we've had for a while.

RSI on the floor and lowest for a long time.

Way oversold. It will bounce soon.

Bozi, the open pit potential of Tandy is just a cherry ontop of a very large cake. It's not needed to make Cascabel viable. Cascabel is already very viable and can be developed in stages based on capital deployment or developed on larger scale like most majors do with Tier1 assets eg aka Darryl's PFS.

The huge benefit of Tandy, is more to SOLG as a minnow... as a go it alone entity. It means they could get finance backing that is factored into earlier cash generation in the development cycle. So, all it really means is that it enhances SOLG's path forwards whereas, it doesn't really make much difference to a super major as they don't need that cash generation in the early development phase as cash is not an issue for them.

Interestingly, I don't think Tandy is part of the Franco/Osisko stream deal but there might be some detail somewhere that aligns them. The point being, Tandy could offer another stream opportunity.

With metal prices where they are and where they are headed, Cascabel will NEVER be a black hole for investment capital.

Today, the investment landscape is different largely due to a world that no longer takes 'long term views'. Everything needs to deliver cashflows and profits from the get-go. Hence Tandy offers investment ops that are very much attractive to a wider number of financial vehicles/products.

Franco have done their due diligence and they know more than you... much more. And they think Alpala is an amazing asset. World class. But like all things mother nature related... there will always be unknowns and hurdles thrown up along the way. That's mining for you. Nothing is a dead cert out there. Apart from another Trump victory of course. What a shambles america has become.

Only plausible reason for SOLG not doing anything like JV or sale of regionals is that someone eg BHP or Chinese have said... erm... keep that as it is please.

There's no way on this planet that Gina R would spend $120m on some licence blocks in Ecuador when she could have got a sniff at some SOLG assets. The assets that Barrick and Gina R have taken on are no where near as interesting as some of SOLG's assets. Furthermore, the fact that Porvenir seems like it's on hold waiting on someone's decisions suggests there are more balls in play than we all think.

The asset are too good to not get a deal away so the conclusion is... they simply don't want to do a deal and would rather package the lot under SOLG for sale along with ENSA.

Probably some overhang from that 3.4m block sold last week weighing on stock as usually weighted to end of the month. Based on last few days trading I would hazard a guess that the supply of stock is drying up at these levels which means they'll have to nudge it higher to attract more sellers.

Lets face it... not many winners out there selling at 8p is there? But plenty of potential winners buying in at 8p levels. The upside story completely overpowers the downside. The latter very limited from where we are and it would take some serious failures to lower levels justified.

Not without risk but upside story has always been huge as tier 1 assets rarely valued under £1bln these days even at the FS stage. Look around and find another Tier1 mine that is 100% owned and valued for peanuts in the ground. Market will wake up soon but for now, mm's just gotta get their crust and do their job.

I think we'll see more and more stress from the markets in terms of views on resources next year and ability to meet demand. Goldmans are forecasting $3000oz for gold. Copper is expected to perform better.

The fact is, the PoG boom has not effected SOLG at present time as we are not a producer. But there comes a time when the market begins to take more of a speculative view on the 'next' gold producers or asset rich miners, knowing that M&A usually follows under investment in mine building.

In a nut shell, we really couldn't ask for a better backdrop. IMHO, SOLG need to start refering to the IRR on basis of the higher metal prices in PFS rather than the low end / conservative 'shoe in' numbers.

Then you really start to get the message over. They've tried to reiterate the asset in today's RNS but it's very much based on last years numbers and metal prices have surged since then. As has many other costs, so have to remember build costs will have risen too, but debt / interest bearing costs have fallen and are set to fall further.

I reckon we'll see a much better IRR number when G-mining get close to finalising their Feasibility Study.

The AGM notice should be winging it's way to us soon.

You'd think they would saved some ink and money on the RNS and included the date in news release today.

Going to be a pretty dull and dare I say it... contentious AGM if the sp is sub 11p and newsflow close to zero before that event.

History shows that management tend to save their news releases for Nov and Dec.

How many more do you have lined up Scotty boy? Have you sorted the amended investment protection yet?

Worth remembering the market was quite happy pricing SOLG at 13p upon the news of the funding packaging. Ironically, as works now actually commence, it values the same business at 8p.

Funny old game innit.

Bozi, we are derisking. Not developing.

A development decision is not planned until 2026 once the PF and subsequent DFS are approved.

Bozi, I'm not sure your making your point very well?? Bob and his crew have already told you that they are not mine builders. They've made it pretty clear they don't want to be developers.

They are moving the asset along toward a level of derisking that ultimately then makes any bid more valuable and certainly much more likely.

We are already on that path albeit a slow one.

Padmaster is correct, a bid can come at any time... and you are correct... a bid could come in 12months time or more. No one is right and no one has a right to imply they know the future.

But Tier1 mines assets always get snapped up and with metal boom around the corner there comes a time when a major sitting on their hands... results in lost time and lower profits. Sometimes making an early move allows them to make bigger bucks down the line. No one knows the strategy or mindsake of the majors as they flip flop around on a yearly basis. But have no doubts about this... post covid in a period of historic under investment... we are in a situation whereby big miners need resources replenished and they need to set that goal out with targets to their own shareholders and many are struggling to show they are positioned correctly for the copper boom.

Just tweaked your post addicknt

Bozi, we've all been frustrated by the failures and chaos of the past, so, now we have a clearly defined path of action I suppose some unbridled optimism is to be expected. In fact, when you think about the time wasted and huge sums of money invested under the CGP regime, it's remotely surprising.

Tandy is the candy. With metal prices likely to be sky high come 2026, an open pit mine around that time or even 2027 could see a nice income stream which enables bank interest loans of a larger size as SOLG will have means to pay without tapping equity or using hefty security deals like CB's.

They've had yonks to work the Tandy prospect out... they certainly move slow these CGP boys.

I reckon we have news coming next week... just an educated hunch!

SOLG BoD's always seem to drop something when the sp heads below 9p. Anyone would think they bought stock at above 9p... oh wait a moment... yes ... they bought quite a few shares at that level and above.

Must admit surprised that gap got filled considering the 8p low end levels were only reached under heavy forced selling pressure from MSCI exiting. The landscape quite different now especially with funding phased approach defined.

So does look like a TA move as you imply. Hopefully the 'tidy' chart will see some traders come in for a move back to 10p+ or higher pre AGM. Nice 20% to 25% profit op for short term traders but like all things, not a shoe in or certainty.

SOLG management are going be feeling it under the collar if the sp is sub 9p heading into next months AGM.

Addicknt, the question would be why has not Scott released price sensitive information? Perhaps Mather has assumed that SOLG would have done it? Who knows? But I think it's Scott that you should be looking at and asking him if he has key information which is being held back that should be released to market. I expect he won't answer that lol!

But remember a few months back when the bridge loan deal was announced and they deliberately withheld the parties name which seemed odd. A quick search by yourself and few others showed Franco's name all over it... public domain info.

So it's pretty clear to me that Scott and Bob think it's down to them what and when they release info and that's not a good as that's not the way it is. It should be the chairman and nomad that ensure shareholders have all info when they should have it. And course... we no longer have a chairman and lets face it... the nomad has been woeful for years not to mention the broker? Most companies would have changed both by now.

Mather has personal holdings in SOLG as well as DGR. Does anyone know the % ownership that Mather has in DGR??

Does he own 50%+ of DGR? Who are the other main shareholders in DGR??

Ultimately, by diluting DGR shareholders through raising more cash etc, Mather may actually end up acquiring a larger stake in DGR or end up with a smaller stake etc. Eitherway, I imagine shareholders at DGR (not Mather) may prefer selling some SOLG shares rather than being diluted. Ultimately DGR is worth $120m+ assuming a modest $2bln SOLG buyout.

Mather has enough cahsed up buddies out there to keep DGR's lights on while the predictable (although uncertain timeline) sale takes place.

I think quite a few are making a mountain out of a molehill where Mather and DGR are concerned. It's just a loan deal and will get sorted for the simple reason that there is a clear defined asset value at the end of it acting as security but like many things... not without risk.

DGR shareholders may end up being diluted or the DGR business might end up being owned by some new investors leaving the little guy out of it.

Too much money at stake here and DGR doesn't need much to keep the lights on.

Looks like another fund manager decided to clean the decks this month and start next month new.

SOLG management failing to attract buyers and generating almost zero reasons for investors to think they should be getting on board.

How's Mather getting on with his buddy and that debt pile at DGA?

However, one thing that is noticeable of late is that SOLG does not rise with PoG at all but when PoG falls, SOLG certainly seems like it likes to fall with it.

Ironic.

8.13p is the low from 9 months ago. Heading into the AGM around that level is going to see some heat on Scott and Bob.

SOLG doesn't and hasn't moved with PoG pricing for a long time. I think when it was part of the gold ETF index MSCI, it moved a bit with that fund volume.

SP last hit 8.5p around June 2024 I think and lowest was 8.13p which was around same time but broadly speaking 8p base levels were last seen in Spring 2024 about 9 months ago. Since then, markets have jumped and majority of smallcaps and miners have done very well ... some doubling or tripling in value.

Current management team seem incapable of generating interest from the larger funds.

2024 has go down as another wasted year and poor performance by SOLG BoD's. They have failed to raise the sp but on a brighter note, have not diluted us all to oblivion like the likes of GGP and others.

Have we started the tailings geo tech works yet Scott or are you still waiting on some boiler suits to arrive?