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Thank you for your explanation Jerry, as you know from my previous postings, my investment expertise, lies mostly in oil and gas, and telecomms, also banking. So may I ask, those that trade metals, do they always have to have approved storage space, even if they never plan to take delivery.
Morning quady. That’s not really how the metals markets work. The seller who delivers the metal to the person long the futures contract will need to have it in an approved warehouse. There is no shortage of space or warehouses willing to accept the metal and thus pay rent to the warehouse owner. That’s not to say that the collapse in demand for oil won’t be mirrored in copper, the industrial bell weather. That sort of happened a couple of months ago when futures went from 2.63 to below 2. But its had a strong bounce back to 2.42 since then. What I do find slightly odd is that NM, when talking about commodity prices often refers to the strong spot au price, but is content to ignore the fact that copper is nowhere near his base assumption of 3.30! Either you use your base assumptions or you use spot less a discount, not the higher of the two!
Like with any investments the first indicator before you get involve is the level of risk you are happy with,(or not....).important factor that will help you is whatever you do never put all your eggs in one basket,and always hedge your bets with a mix portfolio of a mix you are happy with.... As for here,SOLG, is still in a relatively early stage of development which will need funds (big...) and not going to have any income for many years to come,HOWEVER, what they have is a tier 1 growing assests that is certainly going (and already having...) the strong interest of the big boys,(BHP,NC,are on board)...as such this is not clear as how fast the returns on your current investment going to be....it could be very fast with a near term T/O (unlikely IMHO....) OR, it could be much slower with a bumpy ride base on politicaly and financially issues...I have been here long enough to see the ups,and downs ....have a main core investment that increasing all the time by ways of using a trading pot to ride the swings...(not always very successful but serving me well....) the choice is for any individual to do with what you see fit...(your money,your choice....) always DYOR, and IMHO....GLA.
Morning Jerry, good to hear from you. My point was the people holding the paper, may have to provide the storage, if they cannot trade it on, and this may result in a further fall in the copper price. I would say short term. But imagine all commodities are hurting traders.
I have no idea Quady whether there will be a glut of copper - or any other metal, but its nothing like oil. For oil you need specialist storage tanks. For n-f metals you just need an approved warehouse. The warehouses of Rotterdam and Shanghai can store millions of tons of copper, and there are many many more places like these two, so I can assure you that no n-f metal will trade anything remotely like oil.
Good morning Novice, thank you for the sanity check. I have a feeling, that if we can't get out of a global lockdown in the next few months, where we store all this copper. Like oil, where people have taken contracts, to sell on to others, are holding these pieces of paper, and cannot shift them at a profit, and are threatened with taking delivery, or a physical resource that they have no capacity to store. We could see the same happening with other resources including copper.
Good morning DBW, I understand, and was only putting forward how I see this. You could be right. However, we have been in the situation for the last 7 years ( that's how long I have been here ), where a takeover is not only imminent, but will deliver a substantial profit. Again only my point of view. But if Solgold retain ownership, then we will get a substantial profit, but it's going to take time, to build. Yes we may get some exit points along the way. We may get a bid or bids of some nature, but again all takes time.
“ If you are in this to make a quick buck, it's not going to happen”
Whilst I agree with much of what you say Q , I’m not sure the above is true . I’ve been here a few years ( not as long as many ) but one thing I’ve always had in the back of my mind is that this share could double/treble overnight . Either a high quality funding deal or a takeover bid could achieve this in the blink of an eye . ATB DBW
Good morning Barry, may I respectfully suggest, that like all of us, you are here to make money. However if this is your first share, be prepared for a rough ride. No share goes up in a straight line, and depending on the class of share, some achieve a premium to the net asset value, some don't. Solgold is in the ones that won't, because it's got some way to go. We will I feel get the first 150 million of funding quite soon, but we may not. I think most people on this site, feel we will, including myself. If you are in this to make a quick buck, it's not going to happen. This share price, has been as high as 80 pence. I dare say some brought in at that level, to make a quick buck, and may still be holding. If you want safety in your investments, their are many FTSE 100 companies, currently on their knees, who can be picked up and in a self select ISA, which you manage over the next 20 to 30 year's ( if you have time on your side ), to grow your wealth, at a slower, but safer rate. Of course nothing is a 100% safe, but this is the time to sit down and think about your investment strategy. How much of your hard earned money, do you want in dividend yielding shares, to provide growth and income, and how much do you want in speculative shares like Solgold, which may give you a higher return.
Ok maybe there’s a bit of adjustment required. Saying that you say they don’t hit target dates. Do they got their targets or have I been roped in on false pretence? Hope not as I see a massive upside here in the short and long term.
Barry SOLG never hit target dates.....so don't worry! Well that's unprofessional I hear u say!!! Yep it is n its v annoying but it's them I'm afraid and those of us who've been around them for many years have unfortunately gotten used to.em!
It’s all fun and games watching the share price bounce around in limbo, what I want to know is why the delay in funding? This is a major issue right now that seems to be being papered over. I’m fairly new to this but I understand this financing is key to future success. Is anyone else a little worried it’s not happening?
Cheers mate. Really reckon 25 a lvl with last share options . Sold 28+p Bought all back 24.7-25.5 As the way it spiked from 22p couldn't get back my shorts till 27+ Plus moving averages and fib support 21-22p Could have got them all back 22.8_23.8 but seriously did not think we would retrace that much.reminds me when I was trading usd/yen in the eighties.15 big figure Ranges a day.getting hit by jap banks in 300 mio a clip and having to buy 800 mil a big figure higher to get with the move
Keep the faith batty my old fruit , we’ll get there By the way you just click reply on your old thread if you don’t want to start a new one each time . 18p will look a very good average in the blink of an eye