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We won't be Siriused...completekly different ballgame...wasn't even potash...polyhalite...
I think lowest equity raise over the last 5 years+ has been 21p but I could be wrong. Market conditions and issues in Ecuador have been much much worse than they are today. On the whole, SOLG are in a stronger position today than they were after the last 26p placing. The share price did dip to 12p/13p when the world was ending after Covid. The DOW at the same time was just 19k. So lets compare all that to where we are today.
DOW still 31k+ today. That's a long way from 19k covid woes. Yet comparables ... SOLG was just 4.5p shy of the COVID low when it tested 17p lows this week.
Volume has been low, no major holdings RNS's from big holders. Just weak liquidity in summer drift market and some flip flappers ... and hey presto you have a stock well undervalued and well oversold.
Keep focused guys.
Hopefully Eish. It really is the critical agenda item for the company right now.
I agree we're oversold but when you have an uncertain market mixed with a funding issue and upcoming management uncertainty, well that concoction means the weakness can extend itself further yet.
Even if we got £25m we'd be in a better position to get past the AGM, deliver the PFS update and PorvPEA. We can then look again at 2023 funding options next spring.
DBW, I appreciate you sharing your belief that this "will come good".
I have no option but to believe the same. I remember Solgold dropping to about 10p and am still here.
It is now about the End Game. As I am not a high powered businessman and can honestly say I do not fully understand all the permeations to succeed. I just hope we as PI's are not "Siriused". But, then Nick has a lot of skin in the business and done deals similar to this before. a track record. That counts and hope history repeats itself.
DBW, the minerals and loads more is definitely IN the ground! No doubt about that!
Good luck to you and all of us!
Hi Eish
I continue to speculate…. to the tune of 400k+ shares last week …. Ignore the noise ( me included) and work out whether you believe the minerals are still in the ground, if the institutional holders are selling & if you believe anyone else would like to own this ….. it’s fairly simple when you break it down…. But you have to decide for yourself….. GL
Bozi, Sean has a point and one Monday he might be correct, LOL!
But, we will be financed. Just how much and from whom and what format we don't know. Exciting!
We are oversold and have the proven goods for any forward looking major.
Those tenements are crying out to be drilled! They will be when the time is right but, we have an inkling there are more Tier 1's out there?
Where there is smoke - NM and Irwin so calm - there must be a fire?
Something big might be developing behind the doors? Others have tried hard to speculate - DBW, Fortissimo and RK1
We can only live in hope..........!
Sincerely hope we get good news before the world's economies take a severe downturn?
GLA
Let's hope your positivity is not misplaced Sean. I fear it may be.
I expect a big bounce on Monday morning, the start of a push back into the mid 20s.
We've been punished enough for that failed fund raise and the disastrous communications.
People will start to see sense - and a bargain.
Red, I'm sorry but your post isn't accurate. IRR became ALL (listed on AIM and in the US, ASX listing this month) and Ricca Resources (unlisted). This was to spin off the lithium (ALL) from the gold (Ricca) assets. IRR no longer exists.
There is some speculation that Nick/DGR has been selling down his ALL holding to free up funds to participate in a SOLG fundraise. ALL is undervalued and about to release an industry leading PFS.
Try this...
Sumitomo Corp has a 26% stake in Oresteel, which owns a controlling interest in Assore Holdings which has a 50% stake in Assmang.
Assore Holdings has increased its stake in Atlantic Lithium to 23.79% in April 2022.
Vincent Mascolo recently died. He was the CEO and founder of Atlantic Lithium.
Vincent was also a best buddy of Nick Mather and cofounded Solomon Gold with him.
Vincent was also a NED of DGR Global until 2021.
He founded Ironridge Resources, which spun off Atlantic Lithium a few months ago.
DGR Global owns 24.4% of Ironridge...
DGR Global owns 9% of Atlantic Lithium
So maybe the untimely demise of Vincent Macolo has triggered a determination by Nick to pull everything together...
Sumitomo Corporation, a subsidiary of Sumitomo Group, has a market capitalisation of $17 billion...it has a South American subsidiary and a commercial office in Ecuador...
So it seems they are putting together a portfolio of mining companies in various critical metals, including nickel, lithium and maybe now copper and gold...
They could swallow Solgold for small change...
Am I close....?
Or mango chutney:):),just my theory ignore me
You've lost me Bublé
You'll have to be a little less cryptic m8y
Maybe ketchup tomorrow
r's
bn.c
Evening
Bubbles
The clue you give.. i will put in another its also in SOLG name.
How's lundin getting on in Ecuador?
What happened in the early days BNC,clue?, Minerva ?,maybe I just shut up ,enjoy your weekend
Lunch...if that was always true, why did they invest so long before that stage...?
Indeed they invested before the PFS was completed and their funds didn't even go to Cascabel...
"The proceeds of the subscription will be used by the Corporation to advance the Company's 100% owned Porvenir Project located in southern Ecuador."
They paid 42p so was it a 'foot in the door'...?
Hi bublé
What do pinot & I know matey?
R's
BN.c
schlemiel - don't be silly. remember Solg's motto:
"Nihil subito happenedy"
Z
Thanks for the Kitco piece RK
Not where we want to be, of course, but at least we know it's industry wide...........
Little solace I know but.............
r's
bn.c
BHP fell heavily this week. I wonder if the market's picked up on something about a bid for SOLG?
Ooh red your getting closer :):), give it another go my friend before the real one arrives .......c.....o:):), DBW. I've said it before BNC and Pinot will have an idea ,just my theory though , question... Who did NM clear before Solomon Islands and cascabel ?, Again just my theory doing your homework sometimes is worth while imho I'll leave it at that ,I do hope things turn around for all lths in NM we trust gla
And Valuestione were introduced under Nick's regime...
They could have 2.99% by now...not enough to secure a bid but a good starting point and I expect Jiangxi have limitless funds at their disposal...
Here are Valuestone's targets:
Geographical Focus:
-Management teams and holding companies located in the US, Canada, UK, and Australia
-Target assets primarily located in politically and economically stable areas.
Types of Natural Resource:
-Precious metals (gold, silver)
-Base metals (copper, molybdenum, zinc, lead, tungsten)
-Other (iron ore, lithium, graphite, potash, phosphate)
Types of Investment:
-Equity
-Convertible debentures
-Royalty/streaming
-M & A, restructurings
-Capex financing
Stage:
-Bankable Feasibility Study Stage
-Construction Stage
-Operational stage
Thanks Red I always respect the views of my elders :)
Just find Jiangxi’s participation for a tiny amount more than a coincidence…. How many other holdings could they have under the 3% declarable threshold??
That makes a lot of sense DBW...who's to say that Jiangxi wouldn't EITHER counter a first bid by say BHP or throw in a lowball, expecting a counter and then wade in with a knockout bid at say £1.25...
Oh and Talatum why is there this expectation that BHP would be difficult to match?
They only have 13.7%. If another predator bought Newcrest's stake they would also have a starting 'pot' of 13.7%...indeed c23% if they bought Blackrock and NORGE as well...
Right now all options are possible. Just because BHP have been creating mayhem doesn't make them the favourite...far from it...surely the Board would favour almost any other bidder at the right price...
And Darryl has 10 million options that say yes...
Guys many a slip between the cup and the lips !!! Long way to go here but Uber positive. No point in churning over the last week only look forward to great things to come :))
Have a great weekend all