SolGold Share Chat (SOLG)

A lot of people talking about whats going on around solg but I'm seeing a sea of red everywhere for days now.
Let's just hope when it's finished the money is flooding back to pm's

Viable

Nothing to do with boardroom, solg or Nick mather and more like a market wide correction.
Possibly big boys moving for a buy in.

If the market thought we were in a news blackout while a deal was being negotiated wouldn't they be buying and bidding up the share price in anticipation of that announcement? At the moment it's being sold. I do not for a minute think the market is expecting the BOD to announce next week that they are recommending a takeover offer for Solg at 25p a share or something ridiculous.

Mmmmm! Beer and burger. What a great thought.

Pleased to have halved my stake @ 34p. The SP is a joke. A boardroom vacuum has been created with no leadership succession in sight. BHP and NCM could be licking their chops in readiness. Steerage has been lost and it could have been avoided. NM should have known the consequences of his actions. The writing was on the wall at the AGM.

I think the darkest time or most pressure on the share price was the court case which threatened licence blocks. The sp got to 21p I think.

The drop to 11p on covid issues was unique and wide spread. There's no reason why it can't go to 21p again and no reason why it can't go to 43p again.

Plenty of reasons why it could open up one day at 60p+ but I guess we'll have to wait for that rns bomb to drop.

Duffer. Bear in mind that Valuestone Advisors took 32p and they are no mugs. Franco deal valued Alpala at $4bln+ I think.

You have to watch what the professionals do as they look at things very differently to you as they are not buying 10k and then selling a few days later for some beer money and a burger.

Hi Darren!
I think it has got "news blackout whilst a deal is being negotiated" written all over it. And if I'm right, you'll miss out. But I admit that I could be wrong.
12p was a stock market collapse price. Barring another major general market meltdown, I'm confident we won't see that again.

The head of Interactive Brokers was on Bloomberg last night and said the reason they suspended trading was because the rapidly rising share prices were causing the value of the options to go up so much it risked the smaller brokers who are writing those calls not being able to payout. Since they are centrally cleared if one counterparty goes bust the CCP has to step in and settle the options, but the CCP is ultimately backed by its broker members, so those losses would basically work their way up the size chain of broker firms and reach even the larger houses. So he was basically saying brokers suspended trading to protect themselves as the price increase would have snowballed out of control.

You can make the argument that that is what the CCP is there for, to protect one counterparty against the credit risk of the other, so it should step in if a broker goes bust. But I guess they are arguing this wasn't a case of an individual broker blowing up, it was potentially a systemic risk that could have spread to the whole market.

as you say redknight1 if there was a bid being discussed the BOD would have to announce the approach of a bid. So no bid which leaves JV discussion or shares issue. may be the market is expecting a heavily discounted shares issue hence the price drop. may be that ,may be this, may be the other - right now the only question in my mind is " is there a floor to this drop?"

DARREN why would anyone put a 755k block on at 28p if the market is going down wouldn't they be dumping looking for cheaper entry ?

if this goes to 12p i will borrow 200k from the bank and will load up on solg shares.

hey Darren play fair - yes the SP collapsed last March but so did the markets because of Covid. It was nothing specific to SOLG. You sit this out if you like but when others are fearful is often the time to be greedy .....

Off you go then Darren !! Bye bye

I think that this has got bad news leak written all over it I'm afraid... was looking for 25 but I'm sitting this one out. if it rockets, then fair play ill just miss out.

question is what would the sp do on bad news? what's the downside here? it was at 12p back in March.... that's just too big a risk for me.

On the face of it, it would appear that our BoD simply don't care about the SP being ravaged atm or else they'd release some drilling news - unless the drilling has stopped or seen poor results ?? I just don't get this news blackout but hoping there is a good explanation behind it all.

Redknight1 that link you just posted shows that CGP now own over 8% of Solgold, if that is correct, then CGP have been buying shares on the open market.

I think they slapped the 755k on the book as there wasn't much above it until 36p and the 1m block. So traders were looking at bounce back to 36p being possible after gap fill.

Still could happen but they are trying to work it down and put in higher weighted blocks to suppress price. SOLG could have the sp moving up fast again if they just issue some good news on exploration. When Porvenir new broke, the sp was same as today and then went on to test 43p within 3 days I think.

News does move the price when down at oversold levels. RSI is on the floor right now.

You make a very good point DBW...if SOLG was leaky, why not regional news...?

Meanwhile, a deal wouldn't be concluded that quickly anyhow...DD takes ages as FNV found out...

If there was a bid approach the Board would have to announce "we have received an approach that may lead to a bid"...

If its a JV no need until it becomes serious, but in any case, why doesn't the Board put out a RNS saying it is 'undertaking a strategic review of its options...?" that would light a fire under the shares...

The 'controlling' hand slapped 755k block on the ask at 28p so that sent the traders away for friday. Could be Valuestone Advisors working a larger order. Someones loading up with cheap shares. But look at GGP... the golden boy of late. That's now finding it hard to rise which makes you wonder whether there's a large II/hedge fund algo out there just nibbling away at the stocks that have done fairly well over last 6 months. Like I said, they pick the popular stocks to target.

Company website still says 13.49%...

Marketscreen agrees and shows HL has 4.5%, presumably for all you guys...?

https://m.marketscreener.com/quote/stock/SOLGOLD-PLC-4005870/company/

Getting boring now. One might almost think bad news has been leaked about recent drilling. Time to turn off the laptop, me thinks, and go for a nice long walk around the block about 50 times, which would still be local.

There seems to be a lot of confusion on this board as to why online brokerages in the States have banned the purchases of certain stocks. Their model is different to our online brokerage houses, as they operate or offer a free to trade model which is essentially a margin account. This means that with regulatory requirements forcing them to put up vast sums of cash via their clearing firm on the trade date to insure settlement takes place on settlement day, thus reducing counter party risk across the market. No guarantees that the new client can either honour or settle the trade on settlement date. Looking at just five of these stocks it's evident that the sums involve run into the billions on a daily basis. These brokerage houses can't go out and simply borrow billions on a daily basis and with the DTCC increasing margins across a broad range of stocks its clear as to why they took the action to ban trading on certain stocks..... thus protecting their businesses and their clients assets and indeed preserving the integrity of the market. Wild poorly researched accusations and populist rants will persist to care further miss understanding and mistrust
Would anyone hear like HL or their broker to behave recklessly in markets and potentially endanger their pensions, savings and investments? Save the populist nonsense for Twitter and Instagram

At this rate we might make it back into dangerously undervalued territory today.

Morning Colonel. I agree with you totally. What the hedge funds did recently is of course borderline criminal. I wouldn't be surprised if indeed the hedge funds themselves did offer robinhood money to assist the shorting deficit.
BUT
We're talking about a renegade group of amateurs congregating here, having a stab at the fortress wall street.
It is worthy of flagging up the corruption that is going on - yes...but nothing else
It is a blip, nothing more, nothing less and under current conditions, it is never going to be a threat.
As Leon Cooperman (multi billionaire hedge fund manager) said yesterday - this will all end in tears and all these retail PI's will get a bloody nose. They did and they have. Sad to say.
The market needs a seismic and co-ordinated event to destabilise it forever...not a poke with a stick from a nerd in a bedroom on furlough money!
Z

Yes and they have already negotiated a settlement figure of Alpala!!