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Well bozi after years of perpetual obsessive optimism and constant posts of “after this event we will start to move” etc etc and we know there have been many false dawns as far back as “ when we go live on tsx we will fly” well I don’t see anything at all coming from this agm vote regardless of the outcome unfortunately this stock is on a race to the bottom for the greedy hands BHP et al, hence my prediction for new year of a single digit price.
Have a great weekend and let’s hope it doesn’t drop to far by Xmas :/
Two very good posts from addicknt and BnC earlier, I concur entirely.
Some of the long termer holder on here seem to have been ground down by the falling share price, and worn out by the endless hijacking of the board by the likes of MassiveRay, Stackhigh and Quady.
For the first time ever I have voted, obviously for all the resolutions at what will be the most crucial AGM in Solg history. If we lose, I can see the price drop to 8p as we then face a decade of bitterness and in-fighting and dilution with BHP and Newcrest our dogs in the manger. If we win, I think 24p is quite possible by the end of this week. Hence a jittery market puts us slap bang in the middle at 16p. Thursday is a binary choice: shareholder value asap or purgatory.
There are certainly dark forces at work - BlackRock should give any decent investor the shivers - but it's also time for brave hearts and high hopes that the endgame could be upon us soon. It's either endgame or endless games, and I think most of us are now sick and tired of those. Like BnC I would like to cash out soon, it's been too long a road now and none of us are getting any younger.
Quady, you said,
"Correct Bozi the BlackRock funds are being sold, it's not BlackRock selling shares."
That's wrong. It is BlackRock fund managers selling SOLG shares.
Quady, you said
"So reasons for selling Solgold shares could be.
1=) The fund no longer has Solgold as part of it's mix."
That isn't a reason. That's causation.
BlackRock isn't just ETFs. They have a huge fund management business with offerings they manage actively. ETFs are there to track markets, commodity baskets, benchmarks, etc.
I'm really seeing some holes in your understanding around this.
20 million shares traded on Friday....looks like there could be significant trading next week too
Bozi you are saying exactly what I am saying and then disagreeing with yourself.
The three scenario's I have put forward is how fund management and ETF's function.
You are correct I don't know which one it is.
But what I do know it's one or more of them.
Quady - please desist. You have no idea what you are talking about. BlackRock's cumulative holding of SOLG is reducing and quite steadily. That is because their individual funds are selling SOLG stock, the effect of which is being felt on our SP.
Where is your proof that BlackRock clients are redeeming their fund holdings in sufficient weight that the fund then is forced to sell SOLG stock to meet liquidity demand?
If a fund no longer has SOLG in it, it's because that fund manager has sold their SOLG shares. How is that possible if "BlackRock are not selling SOLG shares."
I agree that BlackRock are likely not selling SolGold stock to "walk the price down" but they are certainly selling SOLG stock and the price is certainly be walked down, so any discussion on what their motives might be is rather moot.
Correct Bozi the BlackRock funds are being sold, it's not BlackRock selling shares.
That's what I have constantly said.
So reasons for selling Solgold shares could be.
1=) The fund no longer has Solgold as part of it's mix.
2=) Client's are swapping funds and switching out of a fund that contains Solgold into one that doesn't.
3=) Clients are exiting funds that contain Solgold and taking the money.
The one thing that is not happening is BlackRock are selling Solgold shares to walk the price down.
Because that is not the business they are in.
Afternoon quady reading up on your posts you do seem to have alot of experience in investing and as you know i don't but when I catch up on this board everyone has an ore but rowing in a different direction on outcome of SOLG I guess as you say more will be revealed in strategic review but yes when I buy property I just look at possible downside and take it from there and the upside takes care of itself anyway I hope we are very near the floor with the SP
Novice - do you fancy explaining your statement?
After years of "55p by Friday" you're now opting for 55% value destruction in a week?
I do hope you know that if events transpire to produce that performance then there's little to zero chance of this "coming good on a 3-5 year view" If we see single figures before Christmas it's because the SOLG shareholders have voted like turkeys again and January 23 will be the start of a brand new hell for us all.
Be careful what you wish for.
DBW - one thing I'll say for Quady is that I don't know if BlackRock are experiencing a major run on their funds. They could be for all I know, and if they were then such an event may require excess liquidity.
But what are the chances even in the current environment? <1%?
Welcome back slug!!! Great to see you’re still mischievously agitating events here at the weekend.
My prediction for end of trade on 23/12 is 7p to 8p going into Xmas and new year week. Going to be squeaky bun time for a lot of us here but will come good on 3 to 5 years
Bozi …. I suspect you’re wasting your breath
Quady - that is not how it works. You have had this explained numerous times.
BlackRock are selling down from their various funds, for whatever reason. It's as simple as that.
Thanks for the replies. Fingers crossed!
Good afternoon MrTud .
BlackRock are not selling, their Clients are selling funds that contain Solgold as part of the mix.
Unlikely that BHP or NCM buying on the open market otherwise price would be a lot higher.
Although we have had some volume over the past days, this is nothing unusual as we should be having this kind of volume everyday, day in and day out.
More likely the big boys are selling down because they're P'd off about not getting their own way, I'd have thought.
Whoever's doing the selling, I'll be mopping a few of them up.
The consensus for a fair while has been that anything under 25p is cheap and I think it still applies.
Sentiment on here seems to be lower than whale poo.
Hence I keep reminding myself that that's the best time to buy.
MrTud,well know next week imho
Cheer up its Christmas I said she said he said Bring on 22/12/22 Then hopefully we will all know .
Now Merry Christmas to all our shareholder and a prosperous new year.
I think we all have our suspicions but in all honesty no one here knows who’s selling or why and who is soaking up the stock.
A question for someone who understands these things better than me … Is it possible that BHP and/or NCM could have been the ones buying shares quietly as nervous PIs and Blackrock have been off-loading? And so no TR1s? This would make the AGM vote tighter and has been playing on my mind.
Same here BNC
Add I think maybe re confidence will return here once AGM safely negotiated and merger done.
My guess would be Blackrock are selling more but would love to know who’s picking them up. On the plus side it’s fewer shares to vote with BHP / NCM so that’s not a bad thing. As you say plenty has changed here and hopefully the market will catch up at some point.
covgaz, I wasn't telling him to f off, it was a genuine question.
If I find myself invested in something which has failed to live up to my expectations or is in danger of failing completely, I cut my losses and sell, which is what all sensible investors should do. It's painful experience but I can't think of many circumstances where I've come to regret it.
I have shared the same frustration as you, and were we going into this agm with the DC at the helm and with a repetition of the same tired old mantra of taking this to production, I would be voting against the board or, I would be selling. But we are not. Life has changed completely and a new direction of travel is being prepared and it strikes me as odd that some people can't see that. Yes, there have been endless mistakes - and I've been very critical of them, in fact far more than most, but I now have more confidence than I've had for a long time...particularly as we nearly $100m in the bank.
The "we're going to production" days are gone and we're looking at a very different world - surely that must give you and Orthern some renewed confidence?
Evening all. The large UT today has raised a question to me, and I would appreciate anyone who could shed some light. As it represents roughly 0.5 per cent of shares, could it be a single transaction or 2 or is it simply an accumulation of many small settlements during the auction? Is there any way of knowing??
Had my final top up today. Let the games begin !!
GLA
DK
Hi Cov, you have my complete empathy - I also have some at 27p 25p 20p and most recent 17.6p - plus a others too - you're not alone..........not that that makes it easier.................
Sorry the orthen copper and others mentioned I maintain from the off never had anything positive / good to say about the company its prospects its resources or its management from the off - so sorry disgruntled from the off.................rang alarm bells when they joined and those alarm bells remain ringing in my ears - or maybe it's just tinnitus.........
Anyways nite
Take care
Maybe step away from this board for a while - cuz it certainly aint a healthy place to be - it used to be quite pleasant, where folks shared stuff and we learned stuff and had a larf - dont get me wrong there was also some bickering even back then but they were far more fun back then than now..............
Just want to wake up and see the SP rallying, but with good genuine reason..........and then news of an offer.......
Then I'd be cashing in all my chips - cuz aint going through this SOLG ringer [SLOG] again dont care what they have - they could have 10t per gramme gold (yes it's not a typo it's just me being daft but illustrating the point) and I'd still burger orf as well n truly had enough...................
R's & nite
BN.c