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4m traded which after yesterdays 12m or so - that's good volume after some very low days. Guess that's what happens when you put a stock into bargain levels. Like selling genuinely rolex's for £500. They get snapped up fast.
I'm expecting a decent sized UT and some after hours action so could see another 10m traded day.
On a side note, if you are planning a cheeky funding move prior to the AGM, then you naturally want to make sure BHP do not have much time to react. That way, when it goes to a vote shareholders can amass in their droves via voting system and BHP will have to offer an alternative and won't have much time.
Think that's what's happening here and why we are seemingly happy to drift along with no news and no funding confirmation.
Oh there's me buy
TESLA1 FILTERED TO OBLIVION-PRICK!!
Just to let you know I've sold all 600k that I bought in the last few days.
After yesterday I was glad to get out at just under breakeven.
Why have I sold?
The SP tanked yesterday on no news beyond people's angst about the going concern statement. That alone wasn't enough to account for 12m share volume.
In addition I've been watching Bloomberg and done some in depth research.
Right now I cannot see any way SOLG can fund beyond a very cheap equity issue. Even then on Bloomberg there was a report that A mining capex has collapsed and B miners are struggling to raise any finance at all.
This is part of a general market malaise where it is being openly discussed that there is a liquidity shortyage across all markets. The last time I became spooked by this was 2007/8 when the Bloomberg 6pm news announced that 'liquidity has evaporated in the markets' which lit the blue touch paper for the 2008 collapse followed by SocGen having to close three funds because they could not liquidate the assets as investors started a run...
And earlier this week we almost had a similar liquidity evaporation. At least the central banks will have learned from 2008, but the massive distortions and volatility especially in the UK were heavily fuelled by derivative action...once again the hedge funds are running the economy and markets and governments seem reluctant to stamp on it. Remember when shorters deliberately attempted to destroy Halifax Bank in a naked greedy attempt to make money.
I've also looked into streaming deals and there are virtually none in recent months and one has to accept that basically these are advances of cash, in other words a subset of financing the miners.
So I cannot see currently how SOLG can raise any cash except at a penal cost at the moment. This may change by the year end, but by then we will have had the AGM.
So why haven't I sold the other 1.1 million?
1 Because that would involve taking losses
2 Because I think the likelihood of at least one takeover bid has increased massively and i would not want to miss out after all these years.
3 Because some experts are calling a reversal in markets with a stellar buying opportunity, they';re not sure just when and as I've said, all boats rise and fall with the tide. Thats also why I am keeping cash on the sidelines in case.
So in conclusion, I still hope to bank big SOLG gains by the year end; I may buy back stock if the price tanks again; but for now I am almost back to the neutral position I have held for the last few weeks, having cut our holdings right down earlier in the year.
happy to respond to any constructive comments but for now I am seeking as always to be transparent in my dealings.
Autobots still at it!!!!,wish they'd do one!!!!!
Up 9.58% on tsx they buying back in
Tesla... You are a winner.
Worst de-ramp of week award, asset's massively hyped on here.
I think, it's more down too .. ten years in the making by a company.
Not on a chat board. . Lol
Still waiting for yours novice £150?
79139
Anon the assets have been massively hyped on here, if they were that good solg would not be independent by now.
I very much doubt a bid will ever materialise and IF BHP want solg and it’s a big if they’ll take it on the cheap.
Agree, this is how you force a major like BHP to 'put up or shut up'. But do you need to manufacture a bid to get things rolling? Why not just sign a royalty deal with Boliden... surely that will see a similar result?
There is a way that Mather can really annoy BHP and shift the entire dynamics and that's through a decent sized share issue to someone like Fortescue. This is what I have been expecting and heard whispers of a while back. Fortescue are the second largest licence block holder in Ecuador but from is out there, they have struggled with some eco warriors of late. They need to bolster their activity in Ecuador but ideally through a subsidiary like SOLG (once bought out etc). Land acquisitions and so on are all done better under the SOLG brand. Further down the line Fortescue can ditch the SOLG brand etc.
Fortescue could become a direct shareholder to the tune of 10% and have some warrants in there that will move them to 15%. Not too different from the Wyloo GGP set up. Funding would be provided by Fortescue etc.
Now what do BHP do? The cat will be amongst the pigeons and we know Twiggy doesn't like BHP!
The main man is back at FMG helm. And he's very keen on Ecuador.
DBW, I don't want to re-hash yesterday's discussion, but it wasn't a "standard" going concern statement. Anyway, as you say, it's good to see a slight recovery.
Good to see a bit of a bounce (so far ) today.
Yesterday was clearly oversold based on fear resulting from some folk not understanding a standard “going concern “ statement.
Hope not too many got caught
Benn - TKO - KO - DQ - 7/2
I'll have some of that.
Rehydration clause stated not allowed to put on more than 5 pounds or fined 100k per pound over - going to be tough for him.. and second weigh at 11am on fight night
Yeah he can’t put it back on til fight day ?
Agreed DBW.. might put a bet on it based on the rehydration clause for eubanks..for an upset
I’d like Benn to win but Eubanks bigger. Only hope is that dropping all that weight will hamper him
Now be nice and ill keep quiet
Conor or Eubanks?
To me yesterday they are well under way with the funding issue and of course the market will be notified in due course..
Not sold a single share but also not bought a single share.
Too many idiots now infesting this board that there is no point making any meaningful posts.
Does anyone really and truly think Solg will go under??
Absolutely no chance.
The BOD at times need to look at themselves before they do another KK -take your time before you release news.
Yesterdays RNS was indeed a KK public relations disaster.
KK has given Labour power for the next 4 years in an afternoon of political recklessness and Liz -we ll what can I say but nothing.
Cancel the Tory conference at it will make things worse, reconvene Parliament and reverse the tax cuts.
Thanks Redknight
Hi TIL
I have never accepted a bid, because it can take months to finalise and process it.
When a bid is made the SP will rise to at least that price, or more, depending on whether the market speculates there will be a higher bid.
Once a bid looks final, you do not have to accept it until the bidder owns 90% of the stock and then it is compulsory, so...
If I want maximum bucks I wait until there are 50% or more acceptances and then sell in the market. I may lose a copper or two but it saves the hassle and releases the funds to reinvest.
Oh and I'm not selling the 13 pencers I've just acquired for a few quid's profit.
I'm waiting for the minimum 4 bagger with those babies :-)
Most likely months, but it's academic as contrary to what some are saying I don't think we're going to get a bid for a long while.
If we were, it would have happened by now before the value increased.
Even us plebs know what assets we have.