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Something similar happened with JAY Colonel but over a few days...
It bottomed at 8.76 yesterday am and by late afternoon was pushing 10.7p...
We need these Reddit guys over here...
Miagi - you've returned from your mega sulk, eh? Threatening to kill everybody @ LSE cos they were corrupt and constantly banned you. Then you got a serious thrashing on GGP for being a complete and utter twunt there too!
Licked your wounds and back for more eh....?
Behave this time FFS!
Do the maths RICHR...its £200...
Then there is some dreary bo l lox about Blanca and Rio saying they'll get around to a bit of drilling here and there now and again...yad yada....
then this final para:
Alpala PFS likely around end Q1;
stock remains at steep discount to DCF value Despite changes to its senior management announced last month, SOLG’s strategy remains to create value through systematic exploration, discovery and development in the under explored Ecuadorean section of the prolific Andean Copper Belt. As outlined in our Dec 23rd update, our DCF model for Alpala is based on the “50Mtpa –fast” scenario, as presented in SOLG’s 2019 PEA, with adjustments made to the initial capex budget (H&Pe ~US$2.94bn) and grade profile to account for likely revisions to the underground design flagged by the Company late last year on the back of the latest geotechnical data. The PFS was scheduled to be drafted and submitted to the Board for approval by roughly the end of Jan’21, which suggests to us that the final PFS report should be released to the market around the end of Q1. This is to be followed by an “updated PFS”, incorporating further data, ahead of the DFS. We apply a target multiple of 0.8x to our Alpala NPV, which remains US$4.2bn, using an 8% WACC, $7,000/t long-term copper price and US$1,950/oz long-term gold price. We currently include a modest US$75m in further value for SOLG’s other exploration assets across Ecuador, recognising that there could be significant upside to this figure as the scale of potential Resources at Porvenir in particular and, in time, Varela, begin to take shape. Adjusting for potential dilution from outstanding warrants/options, this translates to a target price of 105p/share, ~248% above the current share price.
Us conspiracy theorists - as we've been dubbed lol - still wonder what these guys are going to do. They are still a crucial part of how things are going to play out imho and cannot be ignored. Must be time for them to make their move any day now - and certainly when the PFS is published ?????
Couldn't find Jerry's post re - Hannam.
So for those who haven't:
Regional exploration programmes continue to reveal significant potential beyond Alpala.
Exploration update highlighting further progress at Porvenir. SolGold has released an update on its regional exploration programmes in Ecuador beyond its flagship Alpala project. The most advanced exploration target remains Porvenir, in Southern Ecuador, where final assays have now been received on the first four diamond drill holes, with a further four outstanding. The results continue to show Porvenir’s potential to become a large, open-pit porphyry copper project. Since the Dec 7th update, the extension of hole 1 from 909m to 1,123m depth appears not to have added significantly to the known extent of the orebody, with mineralisation ending at 938m depth. Nonetheless, the total interval in hole 1 of 928m at 0.53% CuEq, including 644m at 0.65% CuEq starting from just 10m depth, demonstrates the potential scale of Porvenir. Final results from hole 2, which had been assayed to 500m as of SOLG’s Dec 3rd update, showed a total of 818m at 0.45% CuEq, including 262m at 0.71% CuEq starting from surface. Hole 3, while shorter than other holes to date (304m at 0.58% CuEq), included some of the most impressive grades to date at surface (with a 124m subinterval at 1.16% CuEq). Hole 4 again revealed the scalability of the project with a 934m interval running to a depth of 1.1km, albeit at a modest 0.26% CuEq. A 25,000m drill programme is planned for 2021 with the expected addition of a further three rigs to supplement the three already active on the project.
GDX also offloaded 9m shares in GGP (not that is relevant as yesterday's volume was north of 40m)
The GGP 'shake' as you call it was odd. It was vicious. The fall through 32p to 22p happened in two or three sessions I think. May have been technicals but the speed was horrific. Perhaps someone got wind of some over leveraged positions?
Volume has been a different ball game of there for months now. GGP often notch up 30m volue days which are regular events. Compare this to SOLG and the volume at best is 3m to 4m a day. Both have similar share prices but one GGP has almost double the stock in issue (roughly).
So 1p moves on GGP are worth about $40m. 1p moves on SOLG worth $22m ish. Hence, SOLG should be moving in higher chunks and on much better volume than 3m or 4m a day.
In terms of support, we just need the chinese to nibble up the cheap stock at 28p to 30p range rather than sit it out and leave the sp to drift.
The update was good today but it didn't have any 'transformational' news in there and I think it's obvious now that traders are gearing in for news only then to **** out when the news drops. What's new?
hi red - a SOLG sp north of £200 - blimey i'll have some of that :) but think you meant 200p - but i'll still have some of that too !!
Jerry kindly shared an updated note from Hannam this morning (hope you don't mind me mentioning it, J?) They had produced it within minutes of the RNS, which suggests they had been briefed beforehand.
Anyway, it reiterates the 105p target.
Wahay !!! only 5 years that's a mere bagatelle.... I've already been in 4.5 years !!!!Experts always say you should invest in a markets for a 10 year period
gov.capital is predicting these copper prices for our production start date of 1 January 2026:
Price - $12.623/lb Range $10.72955/lb to $14.51645/lb...
If that comes true the SOLG SP will be north of £200 by then...
You pays your money....
Is there a way of filtering thread titles?
No problem whatsoever RK, just ignore me like everyone else. We'll all win or lose together here regardless of what gets posted.
Bozi it was a poor attempt at a joke
Novicehunter....its very simple...while I'm not a trader, I lighten my load when I think the SP is going lower and buy back when I think it has fallen far enough...anything wrong in that...just in the last few weeks in SOLG that has reduced my average cost by almost £13,000...
What's your definition of "tripe'...?
And second, everybody who really knows me on here understands that I'm always very open with what I do. It goes back to when I was called a liar many moons ago and ended up posting the actual dealing orders I had made.
I share what I do here, not only to be transparent, but also because I know some people are influenced by what I do...if that makes them extra money or saves them costs or worse still losing money, all well and good...
We are a community...we discuss...we exchange ideas...we share the pleasure and the pain...
I quite understand that my posts may sometimes come across as self congratulatory...that isn't my intention...
We are specifically banned on LSE from posting recommendations so instead I simply post what I've bought and what I've sold, here and in other stocks, in the hope that others may share the benefit.
Yes I get it wrong sometimes, so yesterday I stupidly TWICE accidentally hit the sell button in a stock I was 'dummy' check ng the price of...a stock I didn't want to sell..that cost me money...
Also it would be easy to regret not selling HALF our SOLG at 43p (which is my core strategy when a SP doubles), as opposed to a quarter, because I thought they might go even higher...so instead I have been steadily reducing my average cost by trading in and out at the margin to try and achieve the same end...
I hope this helps better than your inane personal attack?
Afternoon rally, most likely end up on by end of day.
It's as I said several months ago - Cacharposa is not looking up to scratch, so far...Hole 4 is a bit of a disaster as that was the one that had the potential to greatly increase the size of the ore body. The Extension on hole 1 has also proved futile - they only bothered to go an additional couple of hundred metres. We've finally had confirmation of what most of us suspected - La Hueca turned up nothing so far. Wasn't Rio due to spud in December - been pushed back yet again.
So far SOLG have not hit the jackpot in the regionals. They may yet at Porvenir, but it needs to hit a super hole to prove it.
SOLG have Alpala, which is proven, and that is what underpins the value here. As yet, the drill bit has not proved significant additional value in the regionals.
Given the election uncertainty and the upcoming funding requirements (yes we heard mid to late 2021 for the regionals - how much salt do we need to take with that and does April count as mid?! Plus, there was no mention that they are fully funded to complete the DFS. Are they? They didn't take up the extra $50m from FN, presumably because NM was already on his way out and the new board want a good relationship with BHP. But where does that leave funds for the DFS?
I have a suspicion that the December Presentation chart has been subtly changed...however, on closer inspection...
The CFP and Fiscal Negotiations processes started in June 2019, but the PFS process STARTED in October 2019...all three are now scheduled to complete by end Q1 2021...
Offtake discussions also STARTED in October 2019 but are scheduled to finish later, in Q2 2021...
The DFS process STARTED in January 2020 and is scheduled to finish in Q4 2021, when the "Project Approval & Financing" are due, together with the "Construction Permit".
It is beyond doubt that discussions with the prospective engineers will already have commenced during the PFS/DFS phases, in order to inform the PFS and CFP, but will continue right up to the Q4 target.
This is beginning to feel real, but I still think that the way the SP has drifted makes SOLG a 'sitting duck'...the Chinese have been hoovering up global copper and silver and with the Biden Green Revolution, these two metals have become globally strategic.
Whether you're the Chinese needing to feed the smelters and resource the biggest EV market in the world, or 'major miners' who are running out of resource (the global unmanned gold resource is down to just NINE years, for example), somebody's surely got to buy this rich portfolio of metals whose market price is only going one way...
Jeffery Currie at Goldman Sachs is calling a global 'super' bull market in commodities with, e.g. a target price of $33 for silver and points out that EVERY global commodity market is in deficit, except zinc and palm oil...
Onwards and upwards...
BTW RK don't flatter yourself with how many "SHARES" you own LOLzzz
You couldn't make it up RK. If it where a movie it would be totally unbelievable, what a load of tripe you post LOL.
In Out, In Out shake it all about.
So, RK, despite your rant not half an hour ago about how this company and it's senior management is abominable you are loading up more stock.
A message to all in there somewhere....
Thank you Redknight, I hear what you say, and from my point it's accurate as I understand it.
However I think that the CFP will be announced after the PFS and not at the same time.
My reasoning is that there is just not enough time, as when they announce the CFP, I don't believe they will announce the detail, just that we have agreement and that various parts are being signed.
We will then get a later announcement. ( who knows when )
And this put together with the PFS, will then kick start the route to production.
The reason I say this, is that in order to get the figures for the building of Alpala in the PFS . This can only be obtained by talking to the people we are going to employ to build it.
As we need to obtain real data, for costs timelines and contingency planning.
That's the stock market.