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The idea that either BHP or NCM are “manipulating” the share price is laughable ! This totally illegal practice is not how the worlds largest miner (BHP) would conduct itself in capital markets. Conspiracy theories like this should be dismissed as they have absolutely zero substance. At the end of the day this is a market “controlled” by willing buyers and sellers and sometimes share prices do not react how we would like them to react, and we have to accept that fact. Virtually everyone on this board owns stock and is bullish (me included) but the wearing of rose tinted specs can sometimes affect our judgment. Patience will be rewarded with Solgold
The only thing that will move Solg is either a bid or positive quarterly earnings. Market really didn't care about anything other than these 2 outcomes. Drilling at Provinir is only a lure for potential acquirers. If SOLG were really going to build out Alpala they would put Provinir on hold and concentrate on the cash flow Alpala will provide. Alpala is for sale as is Solg. Don't be fooled. Jmho. Glta
In a nutshell, to simpletons like me who never really understand the machinations of the market - are they controlling the buy/sell like they would the flow of water through a tap. Not fiddling with the water....just managing the flow? Z
The trading on SOLG has been 'controlled' over the last few trading days. I can hear a few on here sighing already. Bear with me.
So what's changed? Well, since the Chinese bought in at 32p, the rise to 37p/38p levels has been supported with what looks like more chinese buying. But it's not being done in a way to drive the share price up. Quite the opposite. It's being done in a way that allows stock to be accumulated with out pushing the price through 39.5p. Now here's the fun part. The major change on the book over the last few days has been the large (feck off you traders) blocks at 39p and 39.5p. These vary between 500k blocks to 680k blocks at times. But the message is clear to any traders... don't come and play with the stock because it's not going through 39.5p until the large block holders pull them off the offer price.
Today, the Intra-day news would normally have seen a plethora of AT's. Mainly because these are designed to manage unexpected voltility or news events. Today, there were barely any AT's following that RNS. In fact, also notable was the delayed reaction from investors across the BB's. Almost as if everyone was asleep.
The volume on the day was pretty weak and the price action after that RNS was as if it never happened. Regardless of whether the content is good or bad or mixed etc, there is always a knee jerk reaction to intrad-day RNS's. Today, the 'controller' didn't even flinch. For me this says one thing. Whoever is on the book right now has a plan in action and they are not budging. This could be a pre AGM tactic or just a smart broker house filling orders and gaining votes for the Chinese. But with low volume, there's really no winners there.
Today's news was actually really solid and good all round. Just because the market might act like it was nothing, do not assume that is the case. I think trading of late is more about holding the price sub 39p. With low volumes it's easy enough to do. As frustrating as it is, NM is doing all he can to get news out there but if BHP or NCM want to play around with the book using there stock on a daily basis (via their chosen broker gimps) there's not much we can do.
theIceberg and Hydrogen - if you're reading this, your perspective on the quality and volume of this resource. would be appreciated. [Ideally in laymans terms!].
But for outsiders like me, this is what I have learnt:
Firstly - Cu grade (%Cu). "...Exploration companies estimate grade through drilling and assaying. The average grade of copper ores in the 21st century is below 0.6 percent copper, with the proportion of ore minerals being less than 2 percent of the total volume of the ore rock. Investors should approach grade estimates with a critical eye. When an exploration company issues grade statements, investors should be sure to compare them to the total depth of the drill core used to determine the grade. A high grade at a low depth can have far less value than a mediocre grade consistent through a deep core. Corebox is a great tool for keeping informed.
Mining costs The largest, most profitable copper mines have been open-pit mines, although underground copper mines are not uncommon. Of particular importance in an open-pit mine is a resource that is relatively close to the surface. Mining companies are particularly interested in the amount of overburden, which is the amount of worthless rock and soil on top of the copper resource. This material must be removed to access the resource. Escondida, mentioned above, has a resource that is covered by a large amount of overburden, but the deposit is still economic due to the large size of the resource beneath...." https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/types-copper-deposits-world/
My overall take on this is that a Cu grade <0.5% is 'low' grade. Over 1% is high grade. As important of course, is the overall volume. Low grade...but loads of it, is very economical. High grade in small pockets is not.
The two RNS' from Porvenir (IMO) appear to be low grade...but an enormous amount of it?
the significance of the appointment of Maria Amparo Alban.
Her links to the Ecudorian govt are there to read, her appointment to me suggests that this was a strategic recommendation made by someone high up in the govt to ensure compliance with and someone who has a vested interest in Ecudaor. (Maria was the presidents recommended candidate for the attorney general role)The more i think about this and the current board structure being established eg Alpala project Committee the more i am convinced that Cascabel is being primed to be sold off
How that will manifest itself in terms of shares transfers, cash etc i don't know and perhaps I'm talking twaddle but that's my theory at the moment and may go some way to explain cgps gripes at the offer tabled by solg
thanks to Colonel Drake and Iceberg. It's always a confidence booster to have people on the boards who are able to provide an informed insight into drilling results..to most of us it's pretty much gobbledygook
but what will move the price is anyone's guess. A bid probably which is what I suspect the market is waiting for