SolGold Share Chat (SOLG)

Has anybody else noticed the delayed trades that have just appeared on here?
I’m not sure what is up but I’m very optimistic. I trust NM and I expect an RNS revealing all or most on Monday or soon after.

GLA

Hi all; new to message chat (I'm an old guy; it took me three days to connect to the message board).
Have owned SOLG stock for many years with an average buy price of $.21 USD holding on (probably foolishly) up to $.60 USD in 2017.
I have not read all posts and if a sale to a major occurs relatively soon my point is moot but is anyone worried about environmentalists shutting down mining in certain areas of Ecuador. In the past two years or so there have been at least two formal attempts to close mines. Fortunately, so far, Ecuadorian courts have sided with miners. However, I am worried.
I wanted NM to address this issue but have not seen anything from him yet. Is anyone else concerned?

Have a great weekend all!!

Hi Phat thanks.... have you got a link or something to where/when he said that? Isn’t that a shareholder decision if and when the offer is made? Not doubting you, but how and why would the CGT on part be greater than the whole? I am no tax expert (obviously!) but how can any exploration company ever succeed then? Hopefully NM doesn’t mean his own personal CGT bill is the blocker here!

NM has said they can’t sell Alpala alone as the Capital gains tax would be too big for it to be in SOLG’s interest so he has said it’s all or nothing.

Strange day to dump loads of stock - immediately following placing when price likely to be down anyway. It seems unlikely to be placees selling given the price was at or below placing price.

So this bid... if and when it comes.... if all the majors want a piece (I think you are correct in that) what’s the problem? Solgold can use the funds for further exploration surely, and repay the loyalty of their long suffering shareholders into the bargain? So what exactly is he defending against? That’s what exploration companies are all about surely? Maybe I am being thick. Wouldn’t be the first time.

I know exactly what is happening here.
All the Major’s want a piece and NM is trying to increase the competition.

If Barrick Or Chinese are announced on Monday I expect this to bounce back up.

It’s a race against time. NM knows the bid is coming from BHP in October, but he doesn’t want Newcrest to make an early bid and let BHP loose without having explored the other licences and made a discovery or two.

The bid defence is in full swing. Maybe they don’t want Franco and it was always their intention to fund raise, maybe they are delaying Franco in anticipation of a Bid.

The “management” bought 162k shares but the “Directors“ didn’t.

WHAT DO THEY KNOW? AND WHY ARE THEY RAISING MORE THAN THEY SAID THEY NEEDED IN YESTERDAYS RNS’s?

RERATE SOON.

Hi ToS1963, NM isn't the type of person to rush! Citi won't be rushed either! We'll all find out what's going on in the coming months. As far as I'm concerned the ball is in the court of those wanting to get their hands on "the prize" Let them make the first move!

Copperpot.... It just felt rushed to me. No prospectus, very little time allowed to digest the offering, which was a bit unclear. Basically, it was pitched as a fundraiser to restart exploration post Covid. That, to me, is baffling. And worrying. It was just another example of NM seeking, and getting, more funds, without publication of a clear and tenable plan or strategy regarding how anyone who invested would benefit. That, to me, is rushed. As a complete aside, I was once asked by Fred Goodwin to pitch in more funds to RBS at short notice. Didn’t end well. Before anyone jumps at me for saying that, I am in no way suggesting those two events are similar. This is really got me puzzled, and I am hoping ultimately it’s a good thing, but I have long lost patience here.

Nearly in after hour trades...very big figures indeed, so 60-70m for the day

ToS1963, why do you think last night's fund raiser was rushed. It could have and probably was arranged weeks ago. Don't be jumping to conclusions matey!

Thanks BNC, for once the charts are not so much of a mystery (I hope!) thanks for sharing. Hope you’re keeping ok :)

In order to balance some of my posts, which I agree might seem negative (I’m very angry with Solg BoD) I do think something is happening here. Last nights rushed fundraiser, and today’s trading have both been very strange, and whilst I appreciate some of the speculation on here, I truly have no idea what’s going on. For so long now, with this blooming share, I’ve thought something was about to happen. There have been SO many false dawns with this.
Maybe this time.

weekly showing potential support based on fibs & previous price action
https://www.screencast.com/users/BN.c/folders/Shares%20SOLG/media/178da04e-a9b9-475b-9c4b-ceebbec51f16

daily chart showing similar support from fibs & poss 200sdma & abc corrective guidelines where the C wave is equal in length as the A wave (these are marked up and lines drawn as a guide)
https://www.screencast.com/users/BN.c/folders/Shares%20SOLG/media/80c37bfe-3e29-47be-9657-292a03f79600

atb folks
r's
bn.c

30,350,000 traded biggest I've ever seen here

Has anyone got sight of level 2 now? How is the book looking?
thanks

Bozi not boxing!

Boxing, I hear you, and I guess we have different reasons for investing in Solg. To my mind, the investment case for Solg has never been around copper production. Even last nights little fundraiser made no mention of mine creation, or copper production. If I wanted a South American copper producer in my portfolio (I do) the investment case around ANTO (for example) is far more coherent. I, along with many others, have Solg in their portfolio as an exploration company, the benefits of which are around the prove/sell/repeat scenario I outline. Owning Solg is like owning a house builder share who repeatedly asks investors to dig into their pockets to purchase land and build houses, yet never sells any. It’s infuriating. I have financially assisted proving one of the worlds biggest Cu/Au resources. I would now like to reap the rewards of that, or at very least have a board who were focussed at least in part on that. If NM seriously wants me to invest more money for creating a mine, and producing copper, he needs to clearly, categorically, publish a 5 year plan, and in particular how and when investors will be rewarded. If he’s serious about that what was last night about? He’ll be building a mine, not proving further assets in the years ahead.

To me that says they didn't need to be discounted so much.

You also have to factor in the likelihood that some II's pitched in for xx million shares at 21.5p but did not get full allocation. The II placing was over subscribed and they were only supposed to go for £16m worth and ended up with another £9m raised. Almost twice over subscribed. So who missed out?? Well my guess is that a few II's wanted more shares than what they ended up with and as such, the market is facilitating a 'seller' with the buyers at 21.5p. It would not surprise me one bit if an rns arrives saying Cornerstone no longer hold an interest in SOLG. I think it's clear that they need that cash and with 150m+ shares, they can raise close to $30m. I don't think they'll sell the lot but I reckon they are keen to get under 5%. Once under 5% they dip under the radar of holdings RNS's although still need to declare the quarterly reports.

As for buying now with a view in where we will be in 3 montsh time??? Does anyone really think this will be sub 30p by the time the PFS arrives and BHP are out of lock in period??

Of course not. This will rock about while the placing gets tidied up, but once it calms down, it's going to peg higher unchallenged by issues over equity raises and bolstered by news on exploration.

It's bargain of a century right now based on news events that are upcoming.

Ecuador issues remain, but BHP has to try and capitalise on that weakness as if they wait until after elections/referendum, they could end up paying double bubble.

Certainly good timing buying in now imho,like you say phattrader1 next few months this is looking good

That would be me. My mate works as a market maker and he heard rumours of Barrick/DGR topping up but this was before the RNS of “a potential investor”.
Either way $5m is small change - the affect of a heavyweight investor other than BHP or NCM would be brilliant news, unless it’s someone else related to Nick Mather.

I topped up today for 35k shares, total holding 215k until takeover. I don’t see this dropping below 20p at all. Much news to come in the next 60 working days (3 months).

FloctonFlyer,starting to move now ,tsx opens shortly lets see what Canucks think about last couple of rns reports

Awax, BARRICK and DGR were mentioned this morning by someone with only one post on lse hmmm....

1 million buy at 21.62 so price is creeping up.