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Thank you Zoros, I see why your angry if your average is 26 p a share. However surely you didn't expect a buyout, as their has to be something to buy. 5 years ago, we had a piece of land, with some holes in it. These things take time.
Ooops - its brought the drongo's out! Tut tut jimmy.......
Quady, let me illuminate you further: I've been with this 'dog' of a share (should have put it down a while back) for around 5 years (from memory). I've bought and sold on innumerable occasions - mainly on the rumour). I'm averaging out at 26p currently. If you'd read my posts way back then, you'd have realised then that (a) this was a punt for me and (b) not a lot of dosh outlay in the great scheme of things, considering my background. I have been in gambling, oops sorry...shares for a very long time and do it as a distraction from my business unlike some in here who have invested their family estate, pensions and kids...... I feel the stock will fetch £3 ish around the start of production in 2025-26. But as I mentioned....could go even higher when it is in full production and other tenements come online....this is why I have parked my stock in a lay by for the foreseeable. Currently the stock has lost its magic and excitement and has become a pain in the whatsit (together with several posters). I've found a lot more excitement across the pond in aussie as you can see from my portfolio. Thankfully it's all hands to the pump there and each day brings something new worth reading. Plus the folk on there (for some reason) are more 'balanced' to put it kindly. The quickest way to 'move on' and to put us all out of our misery is to sell to a major soonest (and well before the elections), for 50p and be done with it FFS. Otherwise - may on here will have died or caught covid in their care homes before the SP moves significantly...and this includes NM!
Zoros I am really trying to understand your position, but I cannot even understand your post. You say you brought years ago, so assume you are in profit. You want a sale and so a quick profit, you already have that. You believe it will reach 3 pounds, but then say your willing to wait to after its built, but your upset that you have to wait. You then say nothing will happen till the DFS. May I ask, is this your first share you have invested in. If so one bit of advice, Don't invest money that you are going to need, things like this take time. If it's not your first share, then I am even more confused by your statement. All the best.
Quady - no I'm not out of SOLG (unfortuynately). I have a small holding of around half a million which cost me peanuts many many moons ago.....and there lies the rub. It is taking fgorever and a day to shift this stock to anywhere near exciting. Having listened to the webinar, I nearly fell asleep twice listening to that dull and dreary NM voice. Thank god he doesn't run a country (only a company)! I, like the Colonel and AK, have become very frustrated with him, to say the least. The only reason I will leave my spare cash in this dog of a share is because a little voice inside my head occasionally reminds me that SOLG is sitting on a unique project (Alpala et al) and when the time comes, this stock will go stratospheric (£3+ a share, post production, if not more).....and so I'll park my dosh here for the foreseeable. I don't post much now, for two reasons - the ostriches have bugg e erd off, thank god. The candlestick makers have gone quiet too - hooray for that, so I see no need to have a pop anymore. This stock will continue to flop ******* around atleast until DFS (Q2+/2021). so nothing new will appear. Blot on the landscape - Elections in Feb 2021. I don't care what the international community wants from Ecuador...if they get a nutter in charge - all bets are off. This for me means none of the II's will committ until the dust settles after the elections. Long long haul guys.
BHP paid approx 24p on 21st Nov 2019 when gold was $1465 per oz . gold now $300 more approx doubling the profit per oz at the very least On that basis all being equal puts a firm 48p sticker on Solg for buying further shares. If they want the whole company add on a 30% premium brings us up to 60p ish. anything above this is In my opinion not born out. So with my exit set at 50 p will now go out and figure what I’m going to spend my profits on, perchance to dream.
Rich4r and AKGold, if they are not 1 pound by end of second quarter after BFS, then I think the person most upset will be Nick Mather, as he reckons 6 times the price now, is a fair price, with just what we have at Alpala. That makes us £1.80 a share roughly. It's going to be interesting chaps, as none of us have no idea where this is going. The only agreement is direction of travel is up. Can't think of an argument as to why this would tank in the long term.
Also the 4 pounds figure, double the 2 pounds is 100 million at one percent times 85 gives us 8.5 billion with 2 billion shares. If you want too take off the cost of the mine, it gives roughly 3 pound a share. Not saying these prices will come about. But its a reference point for calculating reasonable value.
£2 a share is not going to happen based on Alpala alone and NM has already made it clear that any bids are for SOLG and not for individual assets, so there's no point in isolating one and then assuming the rest have added value because unless the other blocks have certified MRE's then they are speculative at best. Even Newcrest (bit of humbug) went on record and said they are still sceptical that Alpala is a Tier 1 project and cited the lack of data on a 'core' as being a concern in early stage of development as block caving needs to have concentrated 'target zones' ideally so the pay back is swift and more profitable. The longer the system, the more expensive it becomes to block cave your way down especially when you are dealing with potentially 10km's!
Anyway... one lesson I have learned over the years is that there is always a heavy discount to selling mining projects early stage and you have to accept that waiting another 4 to 5 years for production is littered with many risks along the way.
Hi DBW, I am not sure it would be equity, we offered equity in the early days, because we had nothing else. What's wrong with staged loans for drilling from Banks, as we can show that we will have the ability to pay it back, yes they may charge us a higher rate of interest to account for the risk, but as NM has said many times, money is cheap at the moment and the foreseeable future.