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Down 1.7%can anyone explain what the f is going on
And no sp movement?
You need to recalibrate BBG but I'm sure you know that.
The post is bang on the moolah.
Fort, interesting that the IEA is predicting that peak oil will occur before 2030.
Rcgl2 - thats a big email in defense of XIB...
Smells dodgy
At last... wakey wakey.. here go
2 x 2m blocks gone through at same price as yesterday. Have they preagreed a 8.55p price now?
Not everyone has your rose tinted spectacles on, of course there is a risk buying at 8p today……
Not everyone believes your fantasy posts and figures, there is a reason it’s 8p and none of it relates to your daily conspiracy fantasies
Well if they are long 'quality majors' then they'll be suffering on those... most are down by over 15%. Some down more than 20%. They've done well shorting the minnows but like you say it's small change reall as 15m shares roughly £3m in spend. Barely cover the yearly lunch bill on these hedge funds.
Quality majors in mining are flagging. Meanwhile, fossil fuel acquisitions are on the rise with Chevron and others paying the most they ever have for more of the dirty stuff.
They and others obviously see fossil fuels going much longer than the green eco warriors want.
Spot on ortherncopper, there are a couple of dangerous posters in here red ramper definitely one of the worst offenders. He has earned his clown moniker status
All of the recent large trades have been off book and away from the London Stock Exchange. In other words one party has been buying from another in private transactions. The obvious question is, who are the two parties?
SM & RCGL2
Both quality posts that this BB needs much more of.
Agreed SM. Spot on. Also while we're at it.... XIB.
XIB is a hedge fund. XIB Asset Management Inc is the manco, the fund they manage is called the XIB fund. The two principals are Sean McNulty and Peter Hatziioannou, both former investment bankers at CICB who obviously decided to set up their own shop.
The clue is in the name with hedge funds... in simplest terms, they run both a long and a short book, to try to make money in all markets and not suffer the same drawdowns that long only funds suffer regularly. XIB has a short position in Solg, it's really not that large and it really doesn't imply anything sinister.
The fact that they happen to have their office in the same financial district as Maxit is hardly that much of a coincidence given they are both Canadian outfits (Canada being one of the global centres of mining M&A after all). How many banks are neighbours in the City or in Canary Wharf? Wander round Mayfair and you'll see countless brass plates of all the hedge funds and asset managers next door to each other or often all in the same mansion block on different floors... Doesn't mean they are all colluding together in some grand conspiracy.
The idea that XIB's short is somehow linked to Maxit or DGR or frankly anyone else involved in Solg is just ridiculous. Take a look at their September fact sheet and the monthly commentary: "Additionally, relative value trades in the precious metals sector were a source of alpha this month, as higher quality operators outperformed those with challenged balance sheets and capex overruns." Pretty much explains it doesn't it, they are long quality majors and miners and short minnows and explorers like Solg who are in constant need of cash and whose projects keep getting more expensive.
fort, for the millionth time, blackrock is not one ****genous entity. they have multiple funds and fund managers who hold solg stock, with different strategies, algorithms, risk thresholds etc. you lack of understanding of the fund management industry is astounding after all this time. then again you used to describe them as an investment bank, so perhaps not so astounding after all.
Great call Colonel...makes huge sense...
Anon...please leave out the tired 'ramp or deramp' trope...
we hold c1 million shares...thats a mere 0.03% of the shares...while the last week's buys of 150k and 100k on a T20 might momentarily move the price, my words on here or anywhere will not have the slightest impact on the SOLG SP, short, medium or long term.
However, surel there's no harm in my sharing analysis or opinions from time to time?
You may indeed have noticed that 99% of them are positive...just happens to be the way I'm made...
And I suspect that at least 95% of people on here appreciate reasoned positivity on here as opposed to crass negativity such as:
"Sorry but this looks toast, sorry to holders in at much higher prices and under water...."
or
"Or in the 7s by November"
or
"7p....and very soon!!!"
or
"Don't worry you will get 7p soon"
These from a guy who posted zilch from March to August, since when he's made 7 posts all negative.
Embarrassingly he began with these two...
"13p written all over this again"
and then
"Waiting for 10p here then I may be interested again"
Before the 7p tirade began recently...
Ends.
Seriously Orphencopper, do you really think you need to police the BB's to protect buyers at present from investing in SOLG at 8p a share??? I can understand the constant your negativity and 'newer' investors style post if we were sitting at 20p+. The stock is on the floor, the wider markets and miners look well down. So is it not for investors to decide to buy when others are fearful?? At end of the day... if we think there's risk buying SOLG at 8p levels today... then heaven help us!
Porvenir is worth more than SOLG's current market cap right now nevermind the rest of the foli. You can take ENSA out of the equation and SOLG would be worth £300m or more. And that's based on market benchmarks.
Thanks Orthern
My view is anyone here is welcome to an opinion but if others use it as investment advice they must have a screw loose .
We live and die by our own choices….. I’m sure when you’re downbeat you wouldn’t want to be responsible for investors selling on the back of it. For better or worse I now own more shares than at any point in the past and feel strongly that any large seller at the moment is most likely “distressed”
Though I see this as an opportunity I’m also very aware I could be wrong and if so it’s down to my own misjudgment.
ATB
Looks like this could be the bottom, a penny here or there wont matter at the end of the day, im happy to have taken a few more for long term opportunity. and growth, give it a couple of years and see where we are . its a long hard slog of a road
OK DBW fair enough... but I find Reds endless fantasy scenarios are dangerous to any newer investor who has not followed the Solg story as long as others have..
Any impressionable investor, who may read his posts and be taken in by his constant £1-2 pound valuations, hyperbole and out of date copy and pastes articles, need warning... he is a fantasist at best and at can be dangerous to your finances..
Orthern
Drilling results don’t mean much now. We need to remain viable …. Market would simply see it as cash burn.
Please don’t take this the wrong way but simply disagree with others rather than calling them clowns …. It’s what the likes of NAL / Quady do and you’re better than that by a distance
All the share price jumps happened when we were an exploration company, drilling and finding nice results...
Not after we were mothballed.
Clown....
Whos paying more than double current share price for Solg shares?????
The last time Solg sold a block to Jianxi, it was at a discount to the price at the time... why would they now pay double the price???
you are a fantasist...
I think Scott has created unnecessary confusion by saying that he had to buy the shares before the 'close period' (or closed). We understandably think of this in relation to an impending financial statement. None is due before 15/16 November, but he and Twigger may have decided that it was their last chance to buy sub 10p...(how wrong was that!)... Not being British, he may have been using the broader meaning in relation to trading on inside information and this would bring into play e.g. not only a stake sale, but also a transaction such as a sale or J/V of one of the 'outside' projects (including the CGP projects). He has certainly strongly hinted recently that there is news coming (though we've been waiting for news most of the year...!)
"(A) PDMR....cannot enter into a conditional transaction (share trade) during the closed period. In addition, they should not enter into any transaction at any time if they are in possession of inside information that could have a significant effect on the price of the product in question."
It could of course be the MD&A closed period, but I mention again a possible sale of the CGP SOLG shares at say 17p? (Offered to the first bidder who pays that price...Jiangxi would double their holding; BHP or Newmont would go above 15% and be entitled to a seat at the Board...for any of the three it would be a statement of intent. BHP paid 45p in October 2018 when the SP was 32p; double the price 2 months earlier. it had only a month earlier bought Guyana Goldfields' (Scott Caldwell) 6.1% stake for 27p a share...NCM paid 40p 2 months later...the SP had gone from 3p to 28p in 4 months in 2016, during which Newcrest bought c12% of SOLG...that deal was engineered by MAXIT, as was the Guyana Goldfields sale to BHP...Bob Sangha...
Two days running the SP has been marked higher at the open and then banged down...however...
I think silver (up 15% in 11 trading days to Friday's close); gold (13%); and copper (bounced 3% in 24 hours from an 11 month low); are all about to break out...SOLG needs to break convincingly through 10p and then 15p IMO...
Where's our heavy seller this morning then? Seems like they have taken a breather (for now) or have they been cleared and the mm's just fishing for some cheap stock.
I guess we'll find out soon but without a heavy seller involved, SOLG sp could be back to teens on manageent delivering some kind of news whether grass root farm outs or Ecuador red tap style stuff signed etc etc