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To1963 - you've held your nerve and survived the hammering all newcomers receive if they dare question NM's motives. ONly a few bullies but they are relentless. I filtered several in the days where they were slanging everyone off for the slightest misdemeanours. Some of the die hards still here though unfortunately.
What concerns me though is the flurry of excitement, almost orgasmic reactions to desperately begging for an allocation in the placing @ 21.5p.....when the SP was @ 23p...WTF?
Did I miss something? A company dilutes with a 1.5p spread and people are queueing up to buy them? Then...hours later the SP drops below their purchase price. Mental. Some serious fans here, of solg - eager to hand over even more dosh to NM to spend on his endless webinar expenses... We all know (as the masseur said to the client) there will be a happy ending but it's torture watching it play out. NM is out of his comfort zone and it showed last night.
Zoros last post, in a nutshell, sums up my feelings - better and more succinctly than I did - as they stood last night, and proved to be correct today. Furthermore, all the new 21.5p holders looking for short term gain have to be cleared before we realise our investments. Which is sickening for all LTH at this stage.
Not sure many if any took the plunge and put in £90K into Greatland Gold when it was a penny. How many stuck with Greatland Gold throughout from 1p till now... Not sure.. Usually with 1p stocks most investors won't put tens of thousands of pounds in them. Its just mental
I agree with your post in general about NM... This company is much larger and with much more assets and potential etc than greatland gold and the SP is a complete joke. It should be much higher
Phat = you missed the main differences: Many PI's bought into GGP early and at very very low prices. Several (some of whom are on this forum) are already multi millionaires, which leads to the other main point: Over at GGP....the action is translating into cash and very very shortly, the story will come to an end leading to a lot of investors making a lot of money with minimum fuss. Here - its like watching paint dry. Very few are making any decent cash....because NM is farting around trying to become a major with none of the cash or experience. No-one is here to be educated on how to become a miner. We are here to make money and don't ever forget that!
Anon3 ... nah, my holding isn’t so big as to be uncomfortable, so perhaps I phrased the making me nervous bit badly. As with any investment, I am happier when I believe I’m getting transparency and honesty from the board. In the current circumstances with Solg, it is understandable that that may not 100% be the case. I’m sure they are keeping us as informed as possible. Not wishing for any more last minute surprises like last night though! Agree that sentiment and opinion has it that he’s got a track record of providing value let’s hope he does so here as well.
Tos1963, Not that I know much about NM's previous history, but the consensus is that he creates value for all shareholders and afaik, has never stitched anyone up. I see no reason why he'd start now. If I was that nervous, I'd be asking myself if my holding might be uncomfortably big, tbh.
Anon3... yep, I hear you. I guess I just want clarity here. It’s natural in the late stages of an exploration lifecycle that the board will play their cards as close to their chests as regulations allow, but it usually leads to nervous shareholders like me thinking they might be hiding something! Perhaps I should just take him at face value, he is fully intent on taking this to production. Suspect his kids will seethe benefits of that, as at his age it will be more of a legacy than a career!
ToS1963, I maintain my position. He wants to go to production.
The truth is, it doesn't matter either way, imo. As production or a sale, this will be a big earner for the shareholders. I know some would prefer a sale because it brings a qucker result. But the real money would be in production, the massively increased sP and the divis. Even if it might be the kids seeing the benefit, as could very possibly be my case too.
1) Ecuador vs Australia - political risk Less in Australia 2) Alpala has 23.7m Oz Gold, 10m tonnes copper (worth 4 times the gold), Haverion has maybe 5-10m Oz Gold at Haverion plus whatever at Scallywag but nothing proved 3) SOLG own 85% of Alpala and 100% of 13 other major prospects that could be the same size as Alpala’s vs 30% of Haverion and 100% Scallywag 4) SOLG shareholders are BHP Newcrest and mainly institutions vs only Newcrest at GGP 5) SOLG is 1 year ahead in terms of prefeasbaility study and proven reserves - GGP are reliant on Newcrest for everything and basically under their control 6) Future prospects - SOLG will have a bidding war and sell for £2-4bn. £1-2z GGP won’t be a war and will sell for 20-30p IF Haverion is as big as the Newcrest CEO says.
Both good prospects but GGP majorly overvalued vs SOLG
Anon.... from all the recent rumblings from NM and the board, it would seem, on the surface, that you are right here, and he fully intends to take this to production. Personally, I don’t think so, I think he’s talking that up to ensure best price possible for any offer. Whatever, it hopefully won’t be too much longer before we find out who is correct. In my view, last night makes even less sense in the taking it to production scenario. The funds raised are laughable vis a vis yielding a mine from scratch. All that said... I, along with most long term holders, did not invest here because we wanted to support a mining start up. We invested in an exploration company. I for one have neither the desire nor inclination to wait a further 7 or so years for a return. Should you prove to be correct, I will probably do as you suggest and stick them in a drawer. My kids will see more benefit than I will I suspect! Either way... unforeseen events nonwithstanding, we should make good money here. It’s just a question of when.
I'm overall very bullish about Solg, but the earlier comment that this is a boring share fascinated me. I've seen this go from 3p to 40p and back down to 10p and anywhere and everywhere in between. And I've been in and out of it quite a few times, making reasonable profit. How people think they haven't had chances to make money is beyond me. But one thing I've noticed about the Solg SP is that it has an amazing ability to just the opposite of what you expect. Hence I'm fully confident I'm going to be adding at sub 20p.
That probably sounds really negative, but I'm sure many of you know I'm probably right.
And those who want Solg to discover, sell, rinse and repeat, sorry, you've constantly been told by NM that he wants to take this to production. I firmly believe that that's what he wants to happen. And he'll fight tooth and nail to achieve it. Which will probably take another six or seven years, minimum, imo. If you don't like that idea, your best bet is to either sell down or just put them in the bottom drawer. If it's the latter, I'm sure you'll be very pleasantly surprised when you look again.
Just awful guys. Pathetic playground stuff. If you were really interested in this company you would be discussing this massive volume with 50% of it after hours. Maybe this is a watershed moment. Think it could move 3p on Monday. Just not sure which way!!