Member Info for Fortissimo

Copper going mental

I see Anglo have delivered their reposte to BHP. It might work... but I think BHP will have one last pop before May 22nd deadline. If they fail, then they might set sights on SOLG pretty sharpish as no doubt Tier1 mines do wonders for production hungry super majors.

The environmental permit can't be issued until the tailings/ waste plans have been finalised. These must be very close now if not already completed. SOLG really should RNS any developments on the Tailings as it's important info.

We know that Bob and the CGP boys are not going down the equity dilution route, so this would appear to be all asset backed finance which means it takes alot longer as due diligence needs to be done across the entire asset.

As for the loan.... seriously guys... with Mr Liu's contacts and close ties with chinese... do we really need to wonder where the loan is coming from?? The fact that SOLG can't disclose it or won't disclose it suggests it's clearly going to 'out' the financier or one of them and the silence of late has all been designed to keep things confidential.

Bob will prob announce a non dlutive $500m cash raise and this market will price us down to 5p lol! Madness. Never seen a market so lazy and sloppy as it is now. Wood Group under attack. Anglo under attack... US dollar well under attack... risk assets should be surging and guess what... we are in an election year... so just about everything should be surging as the politicians work their magic to make us all feel everythings just fine lol!

Wow...

If they can pull this off, then any super majors on the sidelines will have to make a move.

Looks like Bob's about to force their hands.

The $10m loan can't be coming from Maxit or any insiders as it would need to be RNS'd as a related party loan.

It's moe likley to be coming from someone like Franco if you ask me as it seems to mirror that time when Mather inked the same. But this finance deal looks bigger... much bigger.

I'd guess somewhere near $500m to $1bln level.

It didn't take long after the last loan deal Mather deal before news dropped.

We know Noboa will do everything to get permits sorted so my guess is that is just a ruse and desigend to buy some time while the financial package is sorted. My guess is that the permits are all ready to go but won't be signed until the finance is complete and likely done on same day... as both are linked and if finance didn't follow... then with Permits in place... SOLG would be a sitting duck. So smart move.

In this current market, Bob must be enjoying the attention he will be getting for a Tier1 asset.

Just what are BHP going to do if they lose out on Anglo..... mmm!

I think we'll get a few RNS's this month.

We are entering the zone whereby Bob has to deliver something. But like when Mather delivered the ground breaking Franco deal which got the markets attention many moons ago and put BHP back in their box.

Lets hope they like 88.8p then.

I'll roll over for that.

Well, the chinese have just kicked off a $140bln bond sale which has the markets licking its lips.

Looks like the chinese will be cashed up for acquisitions... very soon.

mmm!

LordWM, key stuff to look out for

1. MD&A news out next week (covers Jan to March 31st, key achievements and cash balance)

2. MSCI reshuffle May 14th (share price north of 10p and we might get back in, which means forced fund managing buying)

3. June 6th Exploitation activatition deadline (SOLG must action it but haven't thus far)

4. Some kind of non dilutive cash injection is expected before end of June to keep the lights on - but most likely earlier than that unless of course they negate the need to keep lights on and just go straight to the sale process.

Agreed but Adventus was a minnow. SOLG has a Tier1 mine under its belt plus 60 more valuable licence blocks in ecuador so there is no real 'cheap' way to get hold of it as too many on sidelines will just counter offer not to mention the two super majors sitting on the shareholder list in BHP and NMM.

What is key though is the important red tape events that Adventus had in place... as follows:

1. Investment Protection Agreement for the project in place with the Government of Ecuador

2. Key permits secured, including the Environmental License and tailings storage approval

SOLG have also ticked some red tape boxes but they do not have the Environmental Licence nor do tbey have the tailing sstorage approval. According to Scott, SOLG were drill testing some areas in September last year for suitable tailings. We've not had an update since.

Buyers aren't too worried about buying prior to DFS... but they do want EP's in place and that can't be done until the water storage / waste storage and so on are all agreed.

But in general, I agree with your point that beaten up mining stocks are going cheap now before the metals boom really kicks off. PoG expected to hit $3000 and I think Copper heading to $12000 this year. Possibly $15000 in 2025.

Rumour mill suggesting a Glencore deal to buy/merge Anglo to be presented as early as next week.

London city boys do not want BHP to win this one as it would mean another sizable loss to the FTSE100 index at a time when copper is set to light up the show in next 2 years.

Perhaps the london city boys should price things correctly in the first place and 'invest' in the future rather than trying to make daily coin with the algo's.

Any business with copper assets likely to be in the sights of predators right now. It's going to kick off big time.

The MD&A out next week will cover ops and cash burn through to March 31st 2024.

If the cash balance is less than $5mln then you can be assured we are close to zero now.

As noted in past accounts, teh company has a $6m per year running cost on the regionals alone. Some 60 odd licence blocks in that folio all requiring cash spend / committments or lose them and let them go for free to someone like Barrick or Gina R.

Perhaps Bob's plan is to grind the cash pile to zero and then offer shareholders a pony deal and suggest it's hard to fund the business going forward etc... so board recommends we take the pony deal.

If that leads to a bid process and other players coming in with better deals... then sobeit.

But walking the business into a funding black hole looks reckless at best and management have a duty to shareholders to ensure we are a going concern. At the moment, we don't even have enough to meet our licence obligations.

So clock ticking louder and louder on Bob's amazing deal he's been working on for over 18 months now. I hope he blows the doors off but I fear he'll likely deliver something weak before something stronger comes along.

Noboa is in control through to May 2025 and potentially longer should he be re-elected next year.

This year is a bit like a pre election campaign for him so he'll be keen to make some major headlines that woo ecuadorians.

He's clamping down on crime but jobs and growth key.

He really could do with announcing the biggest mine deal in Ecuador's history... now that really would be a fine present pre elections.

The mm's prob just working through that 9m block from last week or another large block is being worked through.

I don't think we'll see anything material until the BHP / Anglo bid fight concludes.

Small funding raise to keep lights on likely soon though.

Sport heading that way too.

Golf ... football.. etc the Saudi's and co are awash with money and planning ahead for fossil fuel free world... which means they have to diversify.

It's a puzzle why the likes of Tesla or Porsche.. or any german car manufacturing as a whole doesn't buy a Tier1 copper mine. Seems like a no brainer. Cut out alot of middle men.

The offer for Wood Group is by a Dubai-based firm.

This is what happens when markets fail to price stock properly. You get scenario's whereby likes of Anglo could leave FTSE and go to BHP... you get situations whereby Chinese can buy up mining resources and you get situations like today where Dubai-based firms can buy up major services companies like Wood Group.

Won't be long before these guys rule the markets when it comes to mining and services. And who can blame them. The markets have themselves to blame by allowing it to happen. These firms likely won't be listed ever again. And if they do get listed... it won't be on the FTSE.

I see Wood Group had another bid and yet again the market caught napping. Wood Group was circa 120's not long ago and now a rumoured offer of 205p (made on April 30th) turned down but shareholders only told about it today.. tut tut!

Really poor by Wood group management. Wood group share price clearly nudged up on insiders and market gossip prior to today's news.

So the question is Bob... have you had offers and if you have... why haven't you told us about them?

That certainly would be the fairest way to issue news but if you look major news releases from past years like Franco royalty deal or Porvenir hole 1 or merger news or PFS 1, 2 and 3... I think pretty much all of them have suited the usual LSE pre open or 7am RNS benchmark.

History often best guide to the future.

Eloro,

Getting a sale done on a Tier1 asset that requires alot of derisking still is no easy feat. I'll acknowledge that. Market backdrop a year ago was not much fun for miners... I'll acknowledge that. But today, times are very different ... in fact the last 4 months have been trnasformational for the sector and that's being witnessed in many share prices. Many have doubled or risen by 50% and that's not just the small caps.. that's the big multi billion plays too.

So in a nut shell, if Bob and co can't get a deal done this year pre AGM... then there's no way shareholders can vote them in for another term. No logic in that at all. This year should be a zinch for getting asset deals done. It should be a walk in the park for seasoned players like Bob.

So if he can't get it done this year, it's time for him to step aside and let someone else take the reigns... like EBAY. They'd get an auction done in 7 days and yes... there would be bidders.

Joking aside... all it really needs is a big to be tabled and the rest will follow. As seen by BHP's recent low ball bid on Anglo. Talk is Glencore are up next to pitch their best offer. Rio keeping powerdry for now. Lets see how that unfolds.

Small caps and many miners going great guns today. Many at 12 months highs.

The reason we are near multi year lows is due to Scott and Bob's 'silence'.

So management are holding us back right now in a very very favourable market. So using logic... one would deduce from that, Bob and Scott can't be doing it on purpose... as even the worst management teams out there could have SOLG dancing again in this current market atmosphere... so the logic is... something very rewarding is being concluded.

But this isn't a chat room for SOLG anymore... it stopped being a chat room on SOLG when management effectively mothballed the business.

When there is nothing to chat about, then you get certain weak individuals posting things for the sake of it because they have mental issues which need massaging.

Simply as that. SOLG have zero to say and that's why you have a BB that resembles a kindergarten.

On another subject related to SOLG's position... see CNR (condor gold). I flagged that up a while ago as an example of another business that went through a SR and then announced they were selling and had numerous interested parties etc etc. It was 15p or lower not long ago and is now punching above 35p.

SOLG's time will come but until then, if you have nothing to say, then just leave the bb to the individuals with multiple aliases and end up talking to each other in some pathetic way in the hope to boost postings. Probably LSE staff keen to keep post counts up and ad revenue flowing.

Under market laws, management nor insiders/SOLG staff are allowed to give you any information that is sensitive or not already out there in the public domain.

So shareholders emailing SOLG looking for information are wasting their time. You'll get nothing. Ask a pertinent question and you'll likely not get the answer you hoped for.

When they have information to give to the market... you'll har about it via normal channels... not some back door email banter.

So those that are emailing and looking for reassuring strokes from management should lower their expectations. This management team ar ethe same team that managed CGP and that was a moth balled business on TSX. Limited updates and the business was run like the main shareholders personal business. Their comms and treatment of pi's was awful. They were nothing more than a bunch of guys with a 15% stake in ENSA waiting for their payday. Now... they are exactly the same crew.. but with 100% ENSA and still trying to find some way to get their pay day.

So that's it ... blunt I know... but these guys are not mine builders... not mine discoverers... they just acquire land/permits in volumes and then farm out, get someone else to drill them and hold onto a minor stake and hope one comes in good.

Bob has proven results for getting deals and Scott has zero evidence of being a ceo or being able to run a Tier 1 mine.

So lets get real here... your asking the wrong people the wrong questions.