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RICH3r/Bozi - In response to your concerns about my loyalty to this stock.....I have never waivered since I joined in 1734, I believe. This 'find' and future associated and related finds that Solg will probably uncover in Ecuador...has the makings of a once in a lifetime discovery (provided the geopolitical will remains in favour of course). Those who joined at or close to those early days and who stay the distance will become very very wealthy individuals, of that I have no doubt. I have never ever had any doubt about the endgame (production @ Alpala). What has changed for me, is that I feel that NM lost his way - got distracted - thought he knew better. The Cadastre/tenements have become too cumbersome for someone of his stature. He's built an army of workers (700+) and yet we haven't dug one 'sod' of soil, he's "diversified" his financial portfolio (accepting interests from all avenues), so that there are now too many 'interested parties' in the frame. He's drilling left right and centre (when the hub of his activities - Alpala gets sidelined). And to cap it all.....the silly sod goes and gets himself voluntarily sacked! For well before covid - months and months before...this stock was treading water. It was borderline festering. Last year (Oct) there was a glimmer of hope when we 'rose from the ashes' and hit 40+ a figure previously reached in may of 2018 FFS! And to support this, there was a flurry of news/podcasts/webinars from Nm which stimulated "volume".....markets like volume....... Now we are back to festering again with little or nothing on the horizon...except a glimmer of hope in some posts that there could be a takeover/JV imminent.....yeah, right....Zzzzzzzz.
So - as much as I had wished to see the end game (which has been pushed back again to 2027 now), I need to get out and with a little skin in the game if possible. There is much more going on at a more exciting pace. Feck knows why I hang in there.....probably just to wind Novochoc up! Probably 'cos I genuinely believe this is such a unique find and I want to be there when the champagne flows! But at the end of the day...time IS more valuable than money for me....and the clock is ticking. So I will continue to promote Solg (because it is a great find) and I will continue to plan to leave this paint manufacturer as soon as I see an escape route. GL to the faithful - you will be rewarded handsomely. Z
Here is a direct quote from the DGR website on Nick's 'retirement for personal reasons'...
"After his retirement as CEO, Mr Mather intends to remain on the Board as Non-Executive Director, and will continue to support SolGold’s ongoing exploration focus in Ecuador, independent financing and strategic corporate initiatives. During Mr Mather’s tenure, SolGold has been on a similar trajectory to several previous corporate successes of Mr Mather’s. In addition to the world class Alpala Project, SolGold has established a broad tenement portfolio in Ecuador potentially capable of delivering multiple world class copper and / or gold discoveries, as demonstrated by the initial drilling results from the Porvenir Project."
I think someone will make a bid soon. The trouble is, as the Italian said, we could have sold it 3 years ago probably for more money. If that proves to be the case, it will be down to mistakes from the board as redknight pointed out. At that stage, we wont be able to help you anymore. But you will always have the boards reassurances ringing in your ears to keep you going. All the best. Ps you never had any money with Bernie Madoff did you?
The RNS which advised that NM was stepping down did not mention the Apala committee. I assume from this that Nick will remain on the Apala committee moving forward - I will try and get an answer from the company
Maybe the board have tried to be to clever for their own good, and Nick stepping down was the realization of that. Most people on here feel the notion of going it alone is folly. Maybe we will now pay the price for that folly. ( yes Quady I know we ARE going to prodution) I'll save you the post)
It’s ridiculous the drop here. Sitting just above £500m market cap (while GGP is above £1bn with 1/20th of Solg’s resources). This is proving quite a painful journey (time wasted) and wondering whether we will ever see anything above 40p again.
To the poster who said he sees GGP go sub 20p and follow Solgold - what a pillock....thank you - you made me laugh out loud in my own company - anyway, note to self, ignore any future views from such poster! No hard feelings but jeez. ATB
To be honest, I am trying to laugh at the situation because I would just like to scream and burst into tears. We could have put the sale sign on in 2017, we could have probably sold for 50-60p, levels we have never seen despite all the beautiful forecasts.
There's not much to stop it going sub 20p again if the 50k block seller hangs around. Porvenir looks like being priced out and treated like other regional drills which on the whole have bland.
The stock lost momentum after Porvenir hole 2 data.
I can see ggp also following solg sub 20p if or when the dow decides to sell off and return to 28k or 29k levels. The bots seem to be all over the miners at present in a negative way. Probably a play on stronger dollar.
Seems to me that one level then leads on to another level in either direction, so that it then becomes a self fulfilling prophecy. I always hear things like, if it goes up to this level it could then go up to this level but if it goes down to that level it could then fall further to this level. All within about 5 % of each other. If you analyse what a TA technician is telling you, he can actually never be wrong.
Some shares lend themselves to TA better than others, and to be honest SOLG is not the most TA friendly share.
Now, while the short and medium term positive channels I described on the 14th Jan have been broken down since then and now we have a dominant downward channel, we have been in a "primary" W since March 2020.
Since you like to be entertained in TA matters and constructively comment on it every single time one tries to offer a technical view, I think we need to start with the fractal nature of Elliott waves, which means that in this W3 we are going to look for a 5-step "intermediate" (w(1) to w(5) waves, each of which would be broken down into smaller 5-step "minor" w1 to w5 waves. I think we are currently in the minor w4 of the intermediate w(1), and the 29th Jan trough that was supposed to be the end of the w4 and start of the w5 has not held today, so we have to be ready for a rerate to 22-24p, which hopefully might hold. Past that we would be in a w5 with target of at least the October 2020 peak of 44p-ish, and following that, completed the intermediate w(1) we would be due for a w(2) fall again. All in all, s****y times......