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And until then, don't worry about the daily moves because the Autobots are doing 'the Grand Old Duke of York', day after day after day...
Thats what happens in a thinly traded stock, but the liquidity will be boosted significantly after PFS3 arrives because everyone will have to take a position, one way or the other...:
How to revalue the shares based on the revised construstion model and economic case and
Speculation on who will bid and when, given that there will be no reason to hold back on buying one of the world's greatest new copper gold projects...
As Mike Henry of Barrick said, publicly...
"We know about Solgold..."
And they have moved their strategy from gold projects to include copper/gold projects...
"Copper is the new gold..."
You also have to take it in the context it was given which is that it followed previous guidance from SOLG that PFS would be in Q1 2024.
So the update on Dec 14th in that context most certainly confirms that it is earlier than last guidance... hence early Q1 rather than late Q1.
Keep it simple
His statement is totally wrong:
"It doesn't state early in the first part of Q1. It states early Q1 in 2024."
And looking at the thinness of the market, with the vast majority of trades being Autobots, if you're thinking of investing I wouldn't leave it too late because starting with the first 200k, my 489k (and anyone else who followed) took the SP up 12% with a 7.92 close...
And in three full trading days from 19 December the SP rose 65% at its highest...I guess a lot of people who had been holding back panick bought because of FOMO...
We've waited 16 months for material good news so nobody knows how much the price will pop when it arrives...
It's the difference between having a comma after early, and not.
Madpunter is inserting the comma in his understanding
How is "EARLY IN THE FIRST QUARTER of 2024" ambiguous...?
Why did I increase our holding by almost 30%?
I was waiting for a price close to 7p
Why?
PFS3 and the pattern of trading since 21 December
PFS3 is imminent
This was the ACTUAL statement on 19 December:
"Phased Approach Pre-Feasibility Study...Expected to be released EARLY IN THE FIRST QUARTER of 2024
That means by 15 February...
IMO, Insiders will buy more as soon as the RNS hits as they have been in a closed period since before the AGM...because of the possible arrival of PFS3 within 31 days
Also we are overdue news about the pipeline and the rail line
And on 22 January, Scott said:
"The phased approach pre-feasibility study for the Company's 100% owned Cascabel Project located in northern Ecuador is nearing completion. The phased approach is expected to demonstrate a lower risk path for Cascabel, with several project optimizations expected compared to the 2022 Cascabel PFS, including lower capital costs."
NEARING COMPLETION...17 days ago...
But then I looked at the pattern of trading that took the SP from 7.2 to 11.6 in just 4.1/2 trading days...
And my conclusion was that investors had held back from buying, or even opened shorts leading up to the AGM, to hedge against the possibility of some or all of the Board being fired...and indeed Twigger and Clare stepping down in late November can only have increased investors' nervousness...
The AGM was timed for one of the quietest periods of the year.
There was a surge of buying on 14 December, the day Scott sent out issued an RNS including the above key Cascabel update.
I suspect this was buying informed by knowledge of the majority of the voting results, which would show strong support for all the Directors except Nick Mather and the 'Reminder' would have been directed at PIs, to make sure he sneeked over the line.
The AGM was on 20 December 'Brisbane Time', so results would have been known before the London Market opened and we saw a further surge of buying on 20/21 December, but...
The weeks before and after Christmas are prettydead week (hence the AGM date).Many investors and fund managers wouldn't have been back at their desks unti 27 December and we saw another surge of buying 27/28 December (24 million shares), which took the SP as high as 11.6p.
Indeed on 27 December, trading volume increased 5 fold on TSX
After that, traders and weak holders would have taken the opportunity to cash in and the lack of news since has probably seen some PIs especially, disppointed at the lack of follow through, slowly selling...
So...I expect the SP to start to climb a couple of days before the PFS3. Markets are notoriously leaky.
I also expect Insiders and Institutions to buy immediately on release, together with PIs who have held back or didn't believe it would arrive by then... (just read today's posts).
So it is reasonable to expect a price surge and then we will be looking for follow through.
Resistance is at 8p, 9p, 11p then
That could imply early, as it's in the first quarter of 2024. Otherwise, I would have used in the early part of the first quarter of 2024. IMHO it was left ambiguous to give the extra time if there's any delays. Therefore, from past experience of SOLG and timelines, I expect it towards the end of March.
Copperpot. just a shot in the dark mate.
I don't expect your coming over from your Irish cattle station to your favourite coffee shop in london
over the weekend.
only I'm just wondering if you might catch up with your Banker mate.
.if so, I'm wondering if he maybe able to throw some inside info on what's going on with the PFS.
Hfh. I've now asked a couple of times. I'm clearly missing something.
could you please explain what you meant when you posted about solg, share volatility.
I thought I was doing so well on my learning curve.
I've clearly got lots to learn still. I thought volatility was when the SP. shot up and down for fun.
solg has been in a fairly tight band for several months, yet you tell us it's volatile.
it's all becoming to much to take in.
then the other day you told me, I only got an email from Sean because I had sold my share holding.
even though I hadn't.
then you told us, the SP would move when we receive good news.
that's another new one on me.
it's all getting very confusing.
I'm beginning to wish I never invested in solg.
I will never acquire your knowledge, I wonder if you've thought of doing tutorials.
Madpunter, you read it wrong I'm afraid.
Here's the exact line. Let me know if you still think you read it right>
"""Expected to be released early in the first quarter of 2024"""
BUENOS AIRES: The National Assembly of Ecuador, the country’s unicameral legislature, on Wednesday ratified a free trade agreement with China, reported Sputnik.
“Promoting the expansion and diversification of trade between Ecuador and China, eliminating trade barriers and facilitating the cross-border circulation of goods are the goals of the free trade agreement approved by the National Assembly,“ the legislature said in a statement.
The agreement includes over 800 agreed exemptions to protect Ecuadorian industry. The agreement is expected to create more than 50,000 jobs and cover 71 per cent of the country’s exports to China by small businesses.
Following the approval by the country’s Parliament, the Association of Banana Exporters of Ecuador said on X, formerly Twitter, that the agreement would allow a 50 per cent increase in banana exports to China in the next five years.
China and Ecuador signed the free trade agreement in May 2023 after more than a year of work on the document.–Bernama-Sputnik
It doesn't state early in the first part of Q1. It states early Q1 in 2024. I read that as it's early in 2024 and will be in Q1. Therefore, I don't expect it until the end of March.
Cash balance as of Sept 30th 2023 was $22.9m based on last MD&A. They were running at a burn rate of about $3m to $4m in that Q. Previous quarters they were running much higher at $5m+. Over the period following Scott's apparent cash cutting exercise, SOLG have burned through over $70m in cash and did that doing ZERO exploration.
So if you assume they have burned around $3m ish per month in Q4, then Dec 31st cash balance should be around $13m $15m level.
Throw in Jan and current cash balance likely around $12m to $14m range.
The auditors usually sign off accounts befoee end of March 31st, and I can't see how SOLG can get teh thumbs up on a going concern basis with just $10m in cash left (or lower by end of March).
Don't worry though, Bob and his mates will come to the rescue and take 157m shares at 8p raising $15m, and give SOLG a life line to DEC 31st 2024. Very nice of him.
The screw is turning in so many ways on the CGP boys as they continue to underperform previous management and under deliver. Where's the fecking strategic review results?
I hate it when they try to 'decimate personally transportation'.
ByronBayGold, according to Scott and the SOLG board, they have told you it will be ready in EARLY Q1.
You need to learn to read simple RNS's and stop trying to invent things based on your rather loose understanding of timelines involved.
Agree Tesla, fossils are far cheaper that’s why the rest of the world are pressing on using them. Cheap energy = prosperity
It’s also the reason we are shooting ourselves in the foot by making a nation poor and miserable when chinas emissions grow by the equivalent of a U.K. every single year.
One theory is the push for electrification on the motor industry is a deliberate move to decimate personally transportation (and not for for the good of the planet)
He sounds a lot more rational than you.
Fort has done some pretty hardcore ramping in the past but at least they have re-evaluated the situation, u like yourself, and is actually asking tough questions and taking responsibility for where Solg are today, you on the other hand probably don’t have that luxury but have no choice to post fantasy theories along with delusional comments.
If anyone needs to sell up and move on it’s you…..
I didn’t think this was possible but you have overtaken red knight as the biggest 🤡 on this board…….
“Strongest position ever”…..lol
You do understand what “ we need to raise funds means” in a RNS a few months.
Then when it happens you’ll shrug it off and say it’s all good but you are in so deep you have no other choice……what a muppet you are…….
Ignore the SP volatility, up or down. You'll get a truer reflection of the SP once volume increases, and that will only increase once tangible news is released. Luckily for everyone that's next week. Let's hope its positive!
Mr Magoo...'the market's doesnt think anything..
Theres no meaningful buying or selling. I bought 489k the other day and the price went from 7.10 to 7.92.
The daily volumes are pitiful and totally dominated by Autobots. My buys represented 2p% of the days volume.
We are all waiting...the ignorant are waiting for something...the rest of us are fully invested and waiting for PFS3 and or the first bid.
Cheers
You sound desperate and over your head Fort. Maybe check out for a while or sell and move on.
The PFS update will be circulated when Scott and the Board believe it is ready
Well sais Fort! Could be another shock after a late PFS - no forward plan, LOL!!!!! Shucks for sh-te!
So in December, Scott issued an RNS saying 'early Q1' for the PFS. So that bascially meant... Jan 1st to Feb 15th.
Now, out of those 6 weeks... which would you have thought it most likely? Week 1? or Week 4? Nah... it's week 6 of course...
And if it's week 7... well.. that will be poor but not end of the world. If it's week 8, well that's looking a bit shoddy and if week 9... well.. Scott's proven to the market that he is infact exactly as they thought... which is pretty useless at giving guidance of any sort and confidence in him is zero as witnessed by the multi year lows on the sp.
Come on Scott, prove the market wrong. Get the PFS out as promised. Get the strategy review outcome out as long overdue. And get some guidance out on what SOLG are doing after PFS. What's the forward plan?
Wow! Who let that lot out overnight?….and green box one appears to have been busy too!
This board gets worse by the day!
BBG’s increasingly delusional posting seems to be inversely proportional to the SP, judging from the last couple of weeks.
Or perhaps he is just too confused which time zone he is supposed to be posting from…..🤣
Bbg is not losing the plot. It's long gone.
He should start a delusional club on instagram.
They could set up schemes to get some of there lost fortunes back.
Maybe write a book.
" how not to lose your dignity, when all else is gone"
Or maybe.
"how to survive on the street when penny less"