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Lasso beat the indigenous favourite in the election. The indigenous communities don't like Lasso so none of this is unexpected. It's been rumbling along now since last year but suspect the inflation crunch and rising oil costs are getting some more hot tempered than usual. Not wanting to belittle it, but there was more people and more disruption at the Liverpool v Real Madrid game. Important to keep it all in context. Also worth noting that there are large areas of ingenious communities that are behind miners due to the new schools, roads and healthcare that they provide not to mention the jobs boost to local regions.
Morning redknight, funnily enough the same thought crossed my mind late last night as I was reading through the coverage. Thankfully I think those days are long gone.. particularly for Western-owned/listed businesses. Would I put it past the Chinese or Russians in Central Africa? Not a chance.
Who is the conducter here?
This is just sheer price manipulation by the MM for short term gains.
No concern at all for the naive who trade in belief something is going on, good or bad.
Stick to establishing the real value of a company and not this kind of trading in the margins which affects the price so much while only a small number of shares are being traded relative to number is shares issued
Conspiracy theory...would be buyer pays indigenous miners to shake things up....
Quady 4 million in an hour is not a low volume, quite the reverse actually.
The share price has been very strong against a weaker market. Other stocks have fallen heavily. SOLG was the green in a sea of red for several weeks now. Share price shakes have happened several times if you look at the charts. The mm's shook it down to 25p a few weeks back before moving it back to 35p in no time. This type of price action is often seen before bids. Volatile market backdrop will see weaker hands exit. But those shares are going into safer hands. Unless of course an RNS appears saying Norge Bank have sold. But I doubt that. They have been strong buyers but even they will take a breather from time to time.
I am really at a loss about the 13% drop given the lack of news, but I can only imagine that something of this latitude will test the various technical levels to find a new balance, so I hope we stop the drop at around 27-28p and take a breath, unless there is something more dramatic brewing in the background.
Every time we make progress something pops out of the wood.
Blame Putin for todays action.
Dont blame the indigenous people.
Its not about mining.
Its about cost of living .
Its painful to watch once again, but as it has been said this morning Solg is not affected.
I am just amazed and very surprised at the overreaction-but heyho it does create a market.
TTTTiiiimmmbbbeeerrr ; ((
Bubble and others, a big hit at Moran could be THE cherry on the cake, imho! I had see that they had drilled to beyond 400m , I think in a presentation some time back. So how deep are they now and macroscopically, what do they see?
RNS please solgold calm the lths and sack off the derampers
Not sure I understand your comment Quady or what my comment had to do with a bid.
I think the fact that we're reading about political unrest in Ecuador in UK Nationals has probably meant that some investors have reduced their exposure. Not sure this morning's 10% drop can be attributed to profit taking, but no doubt you know best.
What a bargain !!
SharketMare that comment makes no sense if you believe a bid is coming.
This is just profit taking on small volumes.
Looks like the potential for political instability has spooked some investors this morning. Once again kudos to Pbow and other that flagged this on here.
Roll up roll up come and get your 25p tickets hurry up when they're gone they're gone 10% down already and still dropping
Another good buying Opportunity
No point at this rate, Jeeeeez
WTFP !!!
Just wondering when we can expect some drilling results from Moran? Any ideas?
Certainly a bit of concern.....hopefully Mr. Lasso could find way to navigate this unrest.
This situation is bad for business.
This one is a bit concerning. The Warintza mining camp which is owned by Solaris was attacked by indigenous groups. The camp was however defended by the local indigenous community who said the miners had their permission to work in tbe area and basically were doing good for the community.
https://www.eluniverso.com/noticias/economia/paro-indigena-ecuador-campamento-minero-warintza-fue-incendiado-nota/
Thanks Bobm for clarification. Thought as much and probably wishfull thinking on my part! Anyway I still think it is a continuing good sign for Ecuador.
GLA
DK
Thanks for clarifying, shows SOLG’s ethical way of treating their prospects seems to be working.
There seems to be 3 particularly problematic existing schemes that they are after where clearly the companies did something bad. I don't think it will be a problem for SOLG though.