Member Info for Fortissimo

Thanks Pbow.

Looks promising. I bet the MSCI are itching to have SOLG back in especially as they had them in there when they were 25p+.

Get SOLG in there and it could deliver a splendid performance return.

We could do with 30m shares being bought in open market !!

Https://www.msci.com/eqb/pressreleases/archive/ir_dates.pdf

Not completely sure on criteria / market cap requirements, but would think we stand a good chance of re-entry should we sustain 10p+ levels.

Traders will be aware of this and all know the power of forced fund manager buying upon entry to MSCI. Last time saw near 30m shares bought by the index.

Perhaps the offers on Porvenir haven't been up to scratch. That's one reason for doing zilch on it. It's the type of prospect that could be mined easily (without risky block cave issues) and is bang on regional radar of chinese not to mention the size of it... it's pretty big but not Tier1, so fits perfectly with other smaller mines in the south. Doesn't require bucket loads of capital to get into development and all infrastructure is there. So it's a decent asset to tuck away under the belt for when offers are improve as metal prices rise. But surely... that's where we are at now? Now is the time to get a deal done... not 18 months ago.

DBW, I think most understtod the need to conserve cash while they explored sale, jv's royalty deals (or all of them etc) as it created a basis of strength to negotiate. But I think all would agree now, that the moth balling of exploration is no longer required. They have two very distinct parts to the company. There's ENSA (Alpala) Tier 1 (pre development/dfs/funding etc) and then there's the other 60 odd licence blocks and Porvenir (advanced to PFS stage).

It's been slow going for the last 2 years, like watching paint dry. And here we are, still with no clear guide or plan on what they are doing with the 60 odd licence blocks... which incidentally... cost about $6m per year to hang onto from what we were told sometime ago. If that is true, then there has to be funding or cash coming from some deal soon otherwise they will be forced to relinquish those blocks.

Two very different SOLG's here now. One is ENSA and all cash is ring fenced. And the other is regionals/exploration and there is zero cash left to do anything with them.

There are some cross overs with some exploration areas / targets within ENSA like Tandy but these are very much seen as an extension of Alpala and not 'new' exploration.

So as the weeks past by, I expect the pressure to ramp up on Bob and co to deliver something on exploration now the previous plan to conserve cash and moth business is no longer needed.

CMG, rock chip samples and drilling holes with screw drivers?? That's not proper exploration. They haven't drilled a hole longer than 20 meteres for about 2 years+ now I believe.

The 'conserving cash' strategy hasn't worked at all. They burned through $85m doing next to nothing. The whole point of conserving cash was to give them time to get this sold. The Franco deal effectively sorts the cash issues now, so that strategy is a thing of the past. Where's the forward plan? Yes, they have just sorted a terrific funding deal... hats off to Bob and co for that one. But the exploration strategy should have been run in tandem. It should have been ready to go along with the finance whether that be through JV's, farm outs or sale of Porvenir etc etc.

Remember, Bob is a finance man, not an explorer. Mather is the 'explorer'. And since he was effectively removed, so was all ambitions to explore.

And that's why the sp is sub 10p today. In a market that needs 'lots of news' to move share prices, SOLG simply don't have the right strategy in place to deliver that.

Strategic review? What strategic review?

The Franco deal was a game changer... but it's only half the job done... and we still have zero exploration. So time for Scott and Bob to step it up a gear. Lets get back to drilling some targets... proper targets.

No chairman

No exploration

No sign of Mr Liu's involvement thus far

They'll struggle to get any 'bank' finance without a 'chairman' that's for sure.

But for likes of Franco and BHP and others... they really couldn't give a t055 whether SOLG have 20 Neds or 5 chairman.

They just want to see the asset derisked.

SOLG dropped the ball by doing zero exploration. Porvenir hole 1 was the main reason for the sp hitting 43p some yonks ago. Different times and different market ... yes... but there's absolutely no excuse for an 'explorer' to be doing zero exploration. Just $5m buys you several decent holes on a few targets and keeps the news hungry retail investors happy clapping.

Very interesting indeed.

"The initial opening of the cadastre is scheduled for this year." END

It's taken 6 years... but really gathering pace now. All looking very sweet for mining M&A & investment in Ecuador.

Well done Noboa.

Pbow, I don't much them to be honest, I responded to Eloro because I thought he was jumping to conclusions and turning a zero story into a critical demeaning one toward SOLG.

As you know, the mining industry is a very small space. If you are looking for large resource investment opportunities inc Tier1 mines, then you don't need to be aware or go combing through juniors. 100% owned Tier1 assets (not in super major hands) are rare things indeed. So not hard to find. Anyone that 'wants' to get into a tier1 copper/gold mine will be fully aware of SOLG.

CMG..."We have share Options sitting, what run out on the 9th & 10th August 2024. "

Which options expire??

Use your common sense... shaun's not likely to know if SOLG were talking with UAE outfit and then on the flip side (and I'm giving that donut too much credit) if he did know of talks, he's hardly going to say...thanks for the tip or prompt but we're already talking to them.... is he??

You seem keen to be critical. Be assured, SOLG have plenty of interest.

Eloro, do you really think an outfit like 'Mubadala Investment UAE' are not aware of one of the greatest Tier1 discoveries in last 20 years?

It's not for SOLG to approach them, it's for SOLG to manage all the approaches and there has been loads of them.

And lastly... how do you know that 'Mubadala Investment UAE' haven't already had discussions with SOLG?? You've based your 'disappointment' on some geezer called Shaun who quite clearly hasn't got a clue what is going on in Bob's office... and good job too!

18th July was last director buy. Before that was mid April.

Good to see them buying.

Charles even!

Every little bit counts. Well done Chris.

Surprised it isn't moving much higher as after that UK rate cut, it looks nailed on for a Fed cut. Rate cuts bode well for risk on assets as well as gold focused. Throw in the fact that the MSCI should be forced buyers in around 3 weeks time or under that now... and you have a price today which looks cheeeeeeeap as chips. Dozey market will wake up soon enough as it's usually about 2 or 3 weeks behind the curve lol!

The chinese acquired a 6% stake in SOLG around the 17p level. That was a bargain compared to BHP and NMM's cost of their 10% stakes.

DGR's 6.8% stake could shift the power amongst major shareholders and that's the main concern for likes of BOB. If chinese got that 6.8%, they would move to near 11%. Combine that with BHP and NMM and you have a potential JV party owning 31%. That's quite powerful.

No sign of the chinese buying in open market as yet (like they did before) or Norges or others getting stuck in, and no sign of Blackrock re-entering the fray.

So for moment, no one is showing any major share buying interest in open market.

I think 50p a share offer would put cat amongst the pigeons as quite a few newbies in at sub 10p might jump at that. That said, if it was for ENSA only and left the regionals in shareholders hands, then 50p might be attractive assuming the remaining business has Porvenir and 60 odd licences to rinse and repeat on. I still think the regionals and Porvenir are worth at least 10p to 15p a share. Potentially 5 x that amount should they hit some cracking results on some priority targets.

The irony is... our share price is suppressed because of the monkey that is on our back (Tier1 assets) and if we to monetise that and move onto next targets, I think the market would finally 'get it' and we'd see alot more priced in for exploration.

$900m in funding is not hard to find when you have $700m+ sorted and Tier1 asset with call copper virtually royalty free (with exception to the earlier 0.6% and 0.5% ENSA royalty deals)

This makes Bob's job alot easier. Any fund manager, investment bank, or PE firm will look at that Filo deal and then look at SOLG and think... blimey... we really do have a proven example now of how keen the likes of BHP are (after their failed Anglo bid) and a good benchmark value for future deals. Remember... share prices mean zilch in grand scheme of theings on valuation of assets. The mining industry is the benchmark when it comes to doing proper valuations and today's Filo deal will have some interested in SOLG .... even more interested.

BHP were lining up $40bln+ spend on Anglo. $2bln on filo, $4bln or half it with NMM on SOLG... and so on... they might end up acquiring 2 or 3 tier1 size assets for less than $7bln. That's better cash deployment than buying Anglo for $40bln.

Great news indeed. It proves that pre environmental permit and early stage mining projects are now very kuch in demand as the super majors find themselves scratching around to gain assets to support their dwindling reserves post covid ops.

This is indeed a great benchmark deal for Alpala. If they are willing to pay $4.1 billion CAD for those assets, then that would make SOLG's assets worth considerably more.

How much does it work out based on filo's currently proven (or yet to be fully proven) resources??

Fab news.

Our time will come but we are bigger... and not many Tier1 mines around that are 100% owned... so we are in demand.

The Filo corp will have a few other miners out there starting to get itchy fingers.

Nice to see BHP blending well with Lundin. We know Lundin are big in Ecuador. Mmm.

"Porvenir Advanced Exploration permit was received 2 weeks ago."

Well, that's great news indeed.