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Montecristo...why would you bother posting such a baseless opinion...are you saying Nick has been lying about potentially another six Alpalas...?
Drilling success solves all immediate "problems" as I said. If there is success, then the CGP offer looks that much more attractive. The theory that they are holding back the drilling for the sake of CGP doesn't hold water - in fact it's positively leaky.
BNc, yes goldies fell across the board. As you said, didn't have a big impact on the way up, but seems that we're a selling candidate if gold falls (it's in the name after all).
More are trading this than let on here.
As a clarification of the thinking behind last post.... stated corporate strategy is now to take to production.... unless we get a true value bid, which would have to be put to shareholders. I don’t see us getting anything near what NM would regard as a fair value bid .... so the corporate strategy is to take Alpala to production, whilst continuing to drill and prove up the other tenements. That’s 8 years of same old same old on the exploration side, with associated costs, with no income....all the at the same time as we are building a massive block cave mine with no previous experience. JV with a major stated as not the favoured option. Again, with no income. All of this has to be financed, and will certainly involve ... partially at least... even more dilution.
We just have to sell something to mitigate the shareholder risk with that strategy. I need to see clear evidence and explanation of this supposed tax issue with selling Alpala.
By the way, none of that has anything to do with impatience, or inability to wait.... but I just don’t buy into it as a corporate strategy. It’s bonkers. It needs to be better explained to me in this years annual report, because I just don’t understand it.
TOS.... yep you could be right .... but you’re not lol
Lack of news..... SP retraces. Lack of belief in ability to deliver on stated corporate strategy, market reflects this in SP.
Unless we get a bid, I am rapidly coming to the conclusion we are stuck at these levels for the next 8 years minimum, with occasional spikes on the odd decent drill result.
Morning Mr Miagi
Indeed - seems the meerkats are just as reassured - tbh however as daft and ilogical as it sounds I do wonder if yesterdays/today's price action could be associated with the dumps in gold&silver yesterday.........
R's
BN.c
BNc, indeed - imminently mobilising...all very reassuring.
exactly anon
if u bought in single digits and even in the 10's & tbh even 20p you'd have done very nicely when price hit the 40's more than once.......
also still kicking myself re 10p lows opportunity (78.6% fib) - shocking for a ta chap innit lols......
atb
bn.c
I was unlucky with the march drop. I had bought in Dec for 19p and never sell at a loss because I'm happy to hold the extra shares ( I call it my win win statagy) I sold them at 23p after it went on it's great run in the Spring. I should have loaded up but was not sure how well solg would bounce back. I was brave enough to pick up some nice ftse 100 and 250 bargins though
Monte, I've been in since 2013 too.
There have been umpteen chances for good trades, where I've also made good money, as conservative as I am when it comes to gambling.
And when you look at it as 3.5p or even 7p as it was then, this has climbed nicely.
And imo is guaranteed to continue climbing.
What I find disappointing is that some holders still have no faith whatsoever.
Even then, I suspect many might be trading, without admitting it.
I can't see it happening for one minute, but if this were to hit 20p again, I'd be all over it.
I'm still kicking myself that I never bought at 10-11.
mIagi
imminent & mobilising.........
lols ;o]
Nite all
R's
BN.c
I've sat on my solg shares since 2013, then I put a smallish sum aside last year just for trading solg, nothing to technical, just buy around 19, 20, 21 range and sell any time it goes over 23ish. Have pulled of some nice trades ( don't always get it right) happy in the knowledge my main holding is always there. I would recommend it to anyone who gets annoyed with the slow progress. I actually find myself getting excited when the SP starts to go down after a good run.
Definitely going to be a blockbuster of an RNS tmrw morning ; ) PLEASE, pretty please ?
Monte, well there was all that artisinal miner c arp in June and then in October there were the demonstrations. Wasn't exactly the smoothest of years. By October, SOLG were running low on funds and sentiment wasn't great. They only got those blessed water permits in September 19 anyway. Although, there was a good 6 month period subsequent to Sept 19 in which you would have thought they could have a least got a couple of poxy man portables over to Porvenir and Hueca... there's no excuse really for that. And now here we are. We are 2.5 months on from having raised the $40m and we have had no news of any substance about how the drilling is going, or if it has even started...one might feel justified in saying wtf is going on?
Hello Quady
Yes that's true, it just seems so much time passed with very little happening. Hopefully things kick off from here on in.
Hello Montecristo, I think some of the delays were getting the licenses, remember how long we took to satisfy the Government on not polluting the water basin. Then we had Covid, and we had to fund raise along the way. These things take time.
I hope your right, but at the time of the Standstill agreement with BHP, if you asked what most people thought would happen by Aug 2020. I think the majority would have said, 2 or 3 more discoveries by now ( I know covid did not help)
We were told 12 drills on site, first choice with the contractor because he had so many shares in solg etc etc if we wanted more.
I know they wanted to drill the guts out of Alpala but they could of done that with 6 drills and have at least one other at 6 others targets. What has happened exactly?
Quady, the geophysics looked good at Aguinaga too...it's only an indicator. Much more important are the rock saw samples such as those at Porvenir of a long stretch with very healthy amounts of gold and copper in it.
Guys, we are not starting from scratch, we have an idea of the resources from the Induction Polarisation surveys. After all, that's how we started with Alpala. So we know where to start drilling. And doubt they are duds.
Monte, agree with the first 2/3s more or less (at this stage I don't think either Aguinaga or Blanca are the wonderous deposits that they might have been). It is my opinion, based on RNS and presentation snippets, that the artisinal miners have stolen a healthy amount of the shallow stuff in Blanca - swiss cheese. But both could still be economic to mine in the fullness of time.
I do disagree with your sentiment about the rest of the tenements. Yes they are rare, but Ecuador is largely unexplored, the surface expressions of some of them are huge (Porvenir, Hueca) and as Jason Ward said "What are the chances that the first one is the only one and the biggest?"
I thought the standstill agreement was about proving up the other targets, it's nearly over and they have hardly drilled anywhere else. I can understand why people are annoyed.
I think Blanca is a dud, just like Aguinaga.
They talked it up for ages then after a few drill holes,the news dried up completely.
But that is to be expected, these monsters are rare. Thats why Alpala makes headlines.
Don't be surprised if none of the other tenements produce anything, the odds are against us finding even one other.
Would be a great bonus if we did.
Hi BNC, I worked as a Technical Analyst in AIX and Virtualisation for a major Computer manufacturer. I also Supported clustering in various flavors. But really could turn my hand to anything, so was often lent to customers in my later years, as one of the problems, with new technology, is when a customer has it implemented, you require knowledgeable people on site to support and use it. Did more of that in my final years. But have also lectured and taught in my early years.
Hi Quady,
What field did u work in matey?
[and no not the strawberry field I work in before u say it lols]
bn.c
Hi L2analyst, I hope you are OK. We all know that to get the best price, sometimes takes time. I disagree, as we can construct this mine, and take it to production. It's how good we can manage the project. This will be built step by step, following detailed plans. The experts and engineers, will be hired as we progress. We don't require anyone to help build this. When I was a technical analyst, we worked with differing teams, to deliver some truly huge data infrastructures projects, sometimes the design documentation would take 2-3 years to complete, before we started, and was updated, again before we began. As technology had moved on. I have seen both excellent and bad management execute the build, stage by stage. That's what makes the difference. I believe we are going to build it, just patience required. No longer 5 years, only 4.5 years to go. We are getting there. Good luck and patience to everybody.