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Aha...a much better participation by PIs in the last hour or so...
And a significantly better proportion of trades (and higher average value).
AT trades 62% compared to the average this year of c85%...
Onwards and upwards...
7.8p is not a significant technical level of any kind
Whoever originated that gloating ignorant post might have noticed we are up £39k so far today and £53k since Monday's close.
Not gloating...a long way to go yet...
I won't mention it again but I very much doubt an apology will be forthcoming...
Very nice, and a long awaited pleasant change, to see a good, solid day here. Hopefully the first of many. Not sure the announcement warranted this increase, but then again the low SP was always ludicrous. And remains so. Fingers crossed we’ve turned a corner at least.
Agreed, the seller or manipulator seems to have given up for now. They usually drag it back a bit before TSX open just to play some odd alignment game that never really exists.
PDAC really was a big one this year for Ecuador and not many saw that coming after recent drug land battles.
Be interesting to see how Noboa goes about the "Llurimagua" mine issues as I believe he's invested in that one himself via his banana money pre presidential campaig etc. Codelco smarting from that debacle and probably keen to see movement... or they might be keen to switch over to Alpala?? Mmmm. Could we see a consortium of ENAMI, Codelco and Chinese funding Alpala?? BHP might struggle to get a look in but seems like Barrick are on very favourable terms with Noboa and Ecuador lately.
Solgold mentioned in these BMO analytical reports...
Even in 2018, Cascabel was already being used by BMO Capital as a comparator...slide 27...
https://minedocs.com/17/INVMetalsInc_Presentation_November2018.pdf
It has several times used SOLG as a comparator for shares it is analysing:
Arixzona Metals November 2022
https://petergrandich.com/wp-content/uploads/2022.11.01-BMO-AMC-Initiation-Report.pdf
Page 20. The peer comparison valued peers on avverage at NINE TIMES Solgold's copper equivalent and that was 16 months ago when the copper equivalent resource was well below the most recent values...
That would make SOL worth almost £1 a share on BMO's peer comparison...with nothing in for the projects outside Cascabel...!
And ATEX Minerals...Page 24 JANUARY 2024...
https://cdn-ceo-ca.s3.amazonaws.com/1iptijb-ATX%20Report.pdf
BMO is holding SOLG shares in their All Equity ETF
https://in.marketscreener.com/quote/etf/BMO-ALL-EQUITY-ETF-CAD-132560297/components/?p=21
And their Balanced ETF....
https://in.marketscreener.com/services/solutions/?utmzb_campaign=cmp++popin_cmp_refuser-s-abonner+refuser-s-abonner+&utmzb_content=++++&utmzb_source=popin&utmzb_medium=url_declenchement
Looking very solid, lot more O trades than usual, this board has a lot more confidence which is nice to see and read
Atb
7.9p PAID.
Great Scott, this is flying.
GL ALL
Price would cross omit from last AT print
Lovely
Watch this space...
If you're expecting equity financing and 'non dilutive funding' turns up in the next few days, you may end up paying much more than 7.5p...
It's the nature of that funding that is going to deter new investors like me.
Non-dilutive? I've heard this before!
What's more important is that they've got the backing of the bankers (BMO etal) and the markets will take note of this and their return to Ecuador in a material way
Addicknt, agreed... certainly getting there and about bl0000dy time!
Looking forward to the next wave of news reports... and personally intrigued (still) by the valuestone non exec appointment.
BHP beginning to feel the heat... and that's good work by Bob and co.
twigger bought 750k at 9.9p back in october and scott bought more too. both thought 9p levels were bottom. i think they based that on the assumption that £270m market cap is the bottom end. the drop to £168m market cap (5.6p) was astonishing.
if you go back to the covid world was ending days of 2022, the sp dropped to test 10p based on 2.2bln shares in issue so about £220m market cap on 85% of ensa. we have 100% ensa now of course.
so the fall to 5.6p was apparently far more doomsday driven than covid which by the way saw the dow jones fall from 30k levels down to 19k levels. it's now at near 40k level. so everything bounced back post covid.... accept for inflation hurting stocks like miners and others.
with us elections in 2024 (nov) it's very rare for markets to have a bad year as they want happy clapping voters... just shows the level of manipulation at political level.
bottom line... solg should be recovering from here on based on market metrics and not news. so combined with some meaningful news is the perfect ****tail we need to bounce back to late teens or ealry 20's pre bid / counter bid stage ... we hope.
Fort, couldn't agree more, the past is the past and I suspect we can both agree that things are moving in the right direction. Ultimately, you and I want the same thing and it's my belief SC is taking us towards that goal.
I think once we get the cash monkey off our backs this will re-rate substantially. Yesterday/today's news is the tacit government support we have all desperately been waiting for since Naboa took over. I feel a lot more comfortable following the show of unity between SOLG and Ecuador at PDAC.
It's now a case of securing some short term funding to give us a little more runway to get a deal done or, better still, selling the project off to an actual miner!
Buyers Remorse...of course...
Addicknt,
Who know's? Hindsight is a wonderful thing. No point in making guesses on what could have been. Just deal in facts and reality. We are where we are for a reason... because this management team have allowed it.
We are too far downstream now to be turning back... so just a case of strapping yourself in and enjoy the ride. Plenty have jumped off long ago as the ride was making them sick.
If Bob and Scott ran a fairground ride, they'd be giving away paper bags with every ticket.
Lets move on... see how it goes and blow smoke up each others derrieres when we pass 50p. Anything less and it will be a failure of epic proportions.
Some investors have been here for over 10 years!
It seems ironic to me that, despite the disconnect between the major holders and insiders not selling any shares, private investors have seemed to be fairly reluctant to buy, allowing the Autobots to dominate...
Private investors own 23% of the shares according to Simply Wall Street (i.e. excluding 'insiders like Mather and Sangha).
Clearly we had an impact in keeping Nick in his NED role, so in the absence of further buying by largere investors, we hold the key...
Mind you Director Buying might materially change that...
However, despite the foregoing today is a better day.
PS I learned many years ago that in general, private investors buy near the top and sell near the bottom...FOMO and 'Nuyers' Remorse'
So don't get left out because theres planty of good news coming down the track and how long can the 'interested parties' continue to play this gigantic game of 'chicken'...
'In collaboration with the banking giant BMO, a meeting was held with investment banks interested in Ecuador.'
https://www.bnamericas.com/en/news/ecuador-signs-historic-agreements-for-more-than-us48-billion-within-the-framework-of-pdac-2024
Price popped
Fort, to answer your question about options, if he delivers what we want then I won't begrudge them at all.
So tell me, do you not see how things are evolving and the direction we're travelling in? To repeat, if you'd had your way I reckon we'd have been finished by now. The government would have realised we were a joke company and wouldn't have othered with us. So sorry, I think you're barking up the wrong tree.
Now, 75k
price perked up a tad
been reading the board for years now and the news today should underpin market confidence. I wouldn't mind a placing to see it through to monetisation
thanks all and gl
Addicknt,
The god awlful mess you refer to (I can't see it myself) was valued by the market at 22p+. It's this god awful poor attempt by this management team to try and take that apparent 22p+ mess and turn it inot a 5.6p mess as of Monday this week.
Launching an SR almost 18 months ago and then not delivering an outcome is nothing more than sending the market 'we're in a mess messages'. Running the cash pile down to sub $8m as of now puts us in a mess. Moth balling the company / exploration plans for 18 months... puts the biz in a mess in terms of appeal to new investors.
The list goes on.
So I don't buy this... apparent 'turn-around' story at all. We are in a bigger mess now 6p than we were when we were 22p.
The mess started when the keys got handed over to the CGP boys ... end of.
Whether we come out of that mess in a better shape... who knows??? But to suggest Scott has turned things around is utter tosh.
He's delivered very little while burning through $85m in cash! That's factual.
The PFS was welcome but lets face it ... could have been sorted in 4 months based on shifting some metal pricing about. Not 14 months! The Ecuador agreements are a long time coming and should have been sorted under Lasso's presidency but instead we acted slowly and resulted in us having to undergo a stressful election campaign period and then dleays while Noboa got his feet under the table.
Here's a question for you. Do you think Scott has earned those 17m share options and do you think he deserves more awards in the upcoming remuneration (self appointed) nest feathering meeting?