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This is different game then Cine, this could be taken over, defo looks like bounce will come, we had red days and now let’s have blue days
I hope you are right Donotpanic but I have followed similar comments in the past and I am now sitting on a huge loss. The Strategic review seems to be endless and so it appears to me is the data room. Could this be another Cineworld? -I ask myself
Assuming you had been in the data room and had a genuine interest in the entire portfolio there is no better time than now to slap in a hostile tender offer.
Took a small punt here, I think drop is overdone
DBW, you're right about taking a step back and thinking about matters more carefully. And one of things we should remind ourselves of is the CGP deal.
Not only did we pay a high price, but we also spent $16m on fees (I recall someone on here saying they would only be a couple of million). Why did we do it if the board were pessimistic about the future?
Of course, many management teams get this sort of thing wrong - for example, most of the major miners in the M&A boom years, but did ours? Surely a year ago the fundamentals i.e the assets, were there? Have things really changed so much in the past 12 months to justify the current value or to make the deal look stupid?
One of the arguments about the deal was that we had no choice and it was a defensive move. Really? Every board has the choice and if we knew things were not as they seemed, no one in their right mind would have progressed.
Should add that didn't anyone else notice that the sp moved down on some smaller AT trades yet when a sizable 100k went through clearly on the offer, the sp didn't move. It's like buys were just being dismissed and this was on a mission to test 10p no matter what the book was doing.
'we need to flush out a bidder' indeed DBW and sitting at 10p will certainly have a few licking their lips but doubt they'll chance it until post elections.
Even a cheeky PE firm could lob a low ball in at these levels and see what that brings out of the cupboard.
...I've been in SOLG since the days they were kicking rocks around the Solomon Islands and have always bought on the lows until they are also my largest holding.
However, I was also in IOG in a very big way and it looks like I'm wiped out there, which leads to a loss of faith and a sense of panic, which has to be overcome.
IOG going bump doesn't help me in my buying decision here. On the one hand I see the drop as a buying window, but my experience at IOG makes me worry as I know first hand how quickly things can unravel!
Darren
There are several highly leveraged investors on here who can’t accept they may have got it wrong and will do anything to keep it positive.
If you still believe in the assets then you’ll probably be ok, holding for 10 years your average should not be too bad.
Sounds like you’ve had a tough week but you are investing in high risk high reward jurisdictions so need to take the rough with the smooth.
Take what you read on here with a pinch of salt and do a bit more research on Ecuador.
All the best
Fingers crossed, we should see a bounce when the Ecuadorian election is done and dusted....unless, this news is followed by a bid announcements which is then boom - imo !
Cheers.
Evening all. I dont normally involve in the personal, but in this occasion I will. BBG I have always found you quite offensive to everybody but never personally, but now you say I am a deramper??? Check my history? I am heavily invested in this. Is that a deramper??
If you truelly live or was born in Byron Bay then I understand, cos I know it well and everyone there is high, so I ecuse your rantings
ATB
DK
Ray ….. said the same thing yesterday it wasn’t easy to pick up stock in any quantity.
No idea where the share price is heading in the short term but this is cheap imo and I now hold more stock than at any time in the past…… for better or for worse.
Pretty sure the company is probably in a much healthier state than it was under DC and I will be giving Scott my support at the next AGM….. just think the last thing we need is more upheaval right now.
Also think the tailing site and pipeline are most likely in the bag and the reason he keeps mentioning them. All boxes that need ticking and will eventually add significant value.
We just need to flush out a bidder ( hope there’s more than one) and we’re away …… one could argue that far more likely at these levels.
Was having the inevitable doubts that creep in whilst the sp is in free fall but when I stepped back and thought about it I decided to increase here .
Of course you will Sean, when you’ve seen if it bounces you’ll claim a trade just ,are sure it isn’t someone else’s like last time…..
You really are the epitome of a disgraceful ramper and will use any situation to try and haul yourself out of the the situation you find yourself in.
Everyone who is negative is one person.
Not sure why everyone hates slug, or quady for that matter, but the vitriol towards those 2 posters is a joke and is what makes this board quite toxic at times.
Have you seen the sp do you really think slug is so influential he controls the share price.
There is a huge amount of delusion on here.
Think ill be buying more today given the opportunity - price was @ 14.5p just over 2 weeks ago if I'm not mistaken
I'll be adding at these levels too if I can - always wanted to join you long termers who were in at under 10p.
If we continue to crash then the trolls are welcome to laugh at my losses - you can always tell who is really invested and who isn't at times like these. They can't help themselves.
Darren,
It's not just SOLG... wider market has been getting spanked of late as inflation remains sticky. In the old days, the flight to safety would be gold but now the spivs prefer to take safety in crypto which basically has no source what-so-ever and is a market invention.
Traders should be all over SOLG today and tomorrow as the RSI is lowest it's been for 10 years. Very rarely does the RSI head down to these lows without a bounce. Whether that offers any restbite is entirely down to the market as a whole bit also Scott and co. But it will bounce. I'm lucky that I can add stock at these levels... not everyone can and that's the rough justice here. But I reckon when Scott tucked away those 17p options he was laughing... so he and others clearly thought they were great value ... easily 'half price' at the very least ... so 10p looks a blip and over leveraged players can drive the sp to these levels when forced sellers.
Hi Cintsa71, I wouldn't say that I have their ears. I wasn't expecting Bob to respond to my email. I was impressed that he took the time out of his busy schedule to respond to me. Suffice to say, Scott hasn't replied to my email to him. However, I know that he would have received my email and is therefore aware of sentiments here. If necessary, i will call solg public telephone number and ask to speak to Scott. Let us see what comes from the Ecuador elections.
Darren Solg has always managed to produce extremes - we didn't really belong up at 45p when we were flying and we certainly dont belong down at 10p giving an MCAP of £300million when you remember that some very shrewd investors paid 16p for a placing only months ago. They probably did more homework than the retail investors currently running for the hills.
Thank you for sharing your feedback yesterday Eloro. I find it mildly relieving we have someone here who has their ear. If we could get some hard dates around the critical path for permits then it may provide some solace.
Its the whole open ended nature of the SR that demonstrates a lack of ownership. They are paid to make decisions and it feels like they are leaving it to the partners/buyers to say what they want. Maybe we are kept in the dark for good reason and yes we have a complex portfolio but at some point they need to say this is what it is...put up or shut up.
Thanks once again.
Evening all. Just my opionion but with upcoming elections I think either will be ok. BOTH PRO MINING AND WITH 18 months till next election they will both want a result at Cascabel. . Personally hope for Noboa cos alternative I believe is Correo stooge! Hope that doesnt happen! Anyway from a very batteted pi and person who was thinking of my retiremennt, now I am thinking of maybe my kids and now even my grandkids!!!!
GLA
DK
I think you're right Ray. We've had the panic merchants but we are now in the cross hairs of the bargain hunters, just depends how low we need to go for the tide to change. Been a poor week for miners generally and solgs fall has been based on low volume. Unless there is something we haven't been told, we are oversold.
Darren - as weeks go, they don't come much worse than the one you're having.
Your biggest holding very weak and another very much going to the wall - you have my sympathies.
I can't offer investment advice and wouldn't dream of it but try and remain calm. The situatiom at SOLG, whilst it has been pretty poor on the whole the last 18 months, doesn't IMO represent the current price.
I think PIs are pulling funds out of the market in a panic and some are projecting onto Scott. The situation is what it is.
I wish you well.
I hear you Darren.
Rest assured that Bob and Scott were given a piece of my mind regarding the current situation. I point you to my post from yesterday where I posted an excerpt from Bob's response. The implication from his response is that things would be a lot worse if the new team hadn't stepped in. We bounced back from covid, we can only hope the we will survive Scott and bounce back again.
It was very hard to buy small amounts of shares yesterday just above 10p - can't see many selling at this level - possibly single digits before a bounce back above 10p - mm's may try and spook you this morning for a short while before taking it back up. Hold your nerve.