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Earthling, I have absolutely no idea what "your point is, crack on" Please explain it clearly for a simple but shrewd investor like myself. I thought you didn't want to argue with me anymore. I'm sure it was you who replied to my generic post this morning ?
Sounds good but the trouble is we have been saying the very same things for years now. About to blow, give it 3 months, give it 6 months, this time next year Rodders etc etc. 2018 was meant to be the year for solg everyone was saying end of 2017.
Hi Rich3r! I'm expecting a period of silence and drift from Solgold as things are worked out behind the scenes. Then, all of a sudden, one fine day we will wake up to find that everything has been resolved. There are several possible outcomes: Alpala farm-out, hostile takeover bid, or (best of all) bidding war. All of them are good for anybody buying at the current price. As I've said before, the AGM wasn't the end of something, but the beginning. Give it three months max for the haggling to work itself out. Happy Christmas, everybody!
The great Buffet also said: He has not a clue what the market is going to do today, next week or next month. But over the longer term if you invest in great companies value we out eventually, that's why he invests for the longer term It does make me laugh when we get the " expert's " on here who try to explain in great depth about how the market works. Anyone who has less than 100 m in their trading account should resist the temptation!
I thought the point you were making was that the market was not happy with the AGM?
I think the majority of concensus on here is that all would prefer to see Alpala monitised in some way rather than attempt to self fund. Whether that be JV or complete sale... who knows but I guess the Alpala committee will have a few variations to decide upon come Jan/Feb.
Meanwhile, do you really think BHP are just going to sit on their hands and let this all slip away from them? It's win win Monte. It's not going drag on, simply because it can't. The ecuadorian gov need it moving and moving fast and I doubt they'll be delivering any new permits for other licence blocks until they see some decent progress. That's fair enough.
I'm disappointed with no news this week and so it seems, is the market. There must be drill results available and a nice juicy RNS could have doubled as a thank you to the shareholders who supported the AGM resolutions ? Rio spudding would have been tasty too. Just pish-poor imho.
Normally, the exploration phases see greater increases in value than the pre and post development stages. Porvenir hole was a classic example. 28p to 43.5p in a matter of days. Fast wasn't it? But since that euphoric discovery, Porvenir news has been ok. Not mind blowing... but ok. It's coming along nicely but needs a few more holes like the first one to get the market excited again. If or when that news on Porvenir arrives, then it's very hard for the market to ignore.
Then there's the JV or asset sale scenario. I think that's more realistic now Porvenir is looking good. NM and SOLG have clearly had a rethink on Alpala since Porvenir news. Hence the delays. Now to answer your own question... what if SOLG do a JV on Alpala for a free carry to production and $100m in cash for rest of folio in exchange for 60% interest??? Leaves 25% interest but no funding concerns. How would you expect the market to react to that? Or would that rise just fade away too?
Mr Drake you talk the talk and are not short of upticks , but your expectations have come to nothing so far this year. You said 50p by October. I must say you are very good at the positive spin but alas it just happening. The retrace from 43p to 32p is healthy? Don't you think we should have marched on and not retraced? Maybe marched up to 50p and retrace to 43p , but 33p?? You don't convince me at all, as you were totally wrong on Amerisur back in the day too. Merry Xmas one and all.
Colonel My logic is,there is very little intrinsic valve being given to the company. As you point out it is all momentum based. This will go on for years. People cant chop and change opinion every 3 months, they lose credibility . Everyone saying the sp losing stream is just a reaction to there being no news,are the same people saying this will soar after essays, this will soar after Bianca news, this will soar after Chinese buy in etc etc . Let me guess it will soar after PFS. And then what? If falls back down again? That's not how other growing companies behave. They tend to gain momentum and build on it. When the market is in tune with the story. People talk about getting a dividend when the company is producing( 7 years time) we should sell Alpala; pay a dividend now and move on with half the sale proceeds retained to find the next one. Put a for sale sign on it. If BHP dont want it; offer it to the Chinese. They would want it and then BHP would soon show that they want it too.
Don’t speak too soon Novice! I think the share price is more likely to be back in the 20s in the next few days/weeks, than the late 30s or early 40s. There’s very little positive sentiment towards Solg at the moment...
All stocks have trading range and will just ping around in that level until something major happens. When the sp was 28p, Porvenir news hit the market. The price hit 43.5p days later. So your conclusion on that one using your own logic is what? The market clearly hapy with another large discovery?? It dips to 32p which is the low end of the trading channel (TA) and suddenly it's the market clearly not happy with AGM? What's happened inbetween? Any guesses? Well, you had 32p buy from Chinese global player. So I would suggest that confirms that they are 'happy' with 32p and couldn't give a fig about AGM's...or were NM's saviour. Then there's the news of PFS kicked into 2021 Q1. Perhaps the market being a momentum chasing animal of late wanted that PFS news?? Perhaps that head of stem will begin again in January?
If a share price retraces after significant news it's not always due to that news at all. It's often just part of the ebb and flows of TA and traders/buyers/sellers and so on.
Unless of course you expected the SP to remain static for the next ... few months?
The way I see it is that the 'market' has simply begun to price early euphoria of Porvenir out rather than in. It will take a few decent holes on Porvenir before the market gives it the benefit in doubt. Same to be said for Cascabel sterilisation campaign.
And for balance, things have not maintain momentum over last few weeks. We've had no significant news on Porvenir. We've had delays on PFS and the long promised RIO drill in late October has not happened. Another missed deadline by NM and team. The more they set deadlines or timeframes, the more they seem to miss them. That's not ideal but often par for the course with mining companies.
I'm expecting two things in next 6months... strong exploration news and a deal on Alpala via JV or some other instrument/funding.
The AGM was a huge victory for smaller shareholders who escaped being battered down to nothing by the super majors. If NCM and BHP were in control now, you'd find they would have issued themselves a billion shares+, offered you peanuts and walked away with SOLG's folio without paying a fair price. And you think the market is disappointed with avoiding that scenario??