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1984 ….. which begs the question which news becomes the most relevant?
Previously it was drill results etc we all craved , now something as seemingly drab as a tailings license or sorting the pipeline could prove key.
Any suitors ( assuming there are some ) would want as many of these obstacles sorted as possible
But Sirius had only one suitor willing to take it on, once costs became prohibitive to build the mine, they simply waited and picked it off.
At least two parties want this, probably more. At these levels the starting pistol could finally be fired
Yes i wonder how many stop losses have been triggered.
Also worth noting that smaller pi's that invest in miners tend to invest in other miners too. So you might have had a few forced sellers due to liquidity issues after HZM's sp collapse and a few other miners out there. GGP also fading and we know there's quite a few that have SOLG and GGP in folio. So that's going to hurt and force more to sell.
Race to the bottom as they say until the market decides it's time for it's xmas bonus run lol!
There doesn't appear to be much float either as main holders (large holders) have around 45% ish or higher between them and are not selling at all (based on lack of TR1 updates). So assumption would be that out of the remaining 55%, you'd thinbk half of those would be tucked away as well. But that's a guess. If true it would leave around 25% to 30% shares to buy or sell. On that basis, that's still close to 900m ish which is more than enough for liquidity but lets get real here... the big boys are not selling, volume is fairly low considering the sp level and order book looks light so if a big buyer wanted a few million, then they couldn't get them at this price.. they would likely have to pay 13p to 14p to acquire 4m or 5m of the shares out there. Unless the MM finds a matched seller for them.
I'm still surprised that the Chinese have not stepped in and bought up a few shares but guess this level suits them right now especially if Scott had them ear-marked for the 100m share placing in q1 next year. Or ... big buyers are lacking as they want elections out of the way... and like rest of us... want to know whether the Tailings/Dam site investigations are complete and all good.
There's lots going on and loads that needs factoring in but like you say... the sp is no real point of refernece when value story comes into it as proven by a 10p share price today followed by a 45p share price months later.
Scott and Bob have to deliver a solid reason or bunch of reasons why the market should value SOLG higher. Simple as that.
Not going anywhere shipright 😉
Remember this has gone from 5p to 80p in a couple of days before and from 1.5p to 45p.
The Chinese build mines. The Chinese build roads, dams, bridges, pipelines etc etc etc. They've been doing it in Ecuador for the last 20 years+
It's just semantics... SOLG will not be 'building' a mine. Nor will they be risky the equity (shareholders) in funding or building a mine. Scot has said... we are not mine builders, we are mine finders. That's all you need to know.
Somewhere in the middle is an opportunity to do a JV which uses either BHP's mine building skills or the Chinese etc etc and somewhere in a JV like that emerges 'risk' and 'capital'. These ultimately decide whether SOLG ends up with a minority interest which is given a free ride to production or some kind of deal.
Or... like most think... we just flog it to someone that 'wants' to build it and is happy with the risk at a price that pleases all involved.
Peace of cake isn't it?
DM, re your post at 9:26.
I suppose everything hinges upon the word "development". Does it mean we actually construct a mine before selling it? Or do we simply design it? Do either of these activities really add shareholder value? Given the amount of money required, I can't see how they do.
This has caused so much confusion and you've got ask why don't we simply admit that we are explorers and leave it at that?
If we break 10.50 and stay above is positive sign for move back to 12/13
The Panic started after the Update, too late now, should have sold at 14p, and increased my holdings at 9.8p, but we all dont have hindsight, Only Hope left!!!!!
Hopefully no one panicked, this is a BUY price
Very entertaining to read this board nowadays with every single thing being posted makes absolutely not a jot of difference to what the stock does up or down sheet happens
Mining industry has always been built on the game of the big boys squeezing the little guys. Little guys do all the work... end up with a huge resource which big guys like. Little guys can't fund it without the big boys pockets... and there lies the eternal problem... the big guys usually get what they want simply because they are the only ones that can fund it. Of course... recently the chinese have been challenging that shoe-in scenario for teh super majors by offering alternatives. And more recently we hear about the Saudi's or UAE being interested in copper mines ahead of the huge copper shortage looming ... and why wouldn't they.
So whether just market woes or manipulation (so we hear) it's ultimately a squeeze on equity raises going forward when share prices are trashed. The idea of raising another $50m+ for 12 months ops and throw in the required $25m down payment for Ecuador gov is hard to envisage with sp at 10p.
Like I said a while ago, it's actually in the interests of BHP and other interested parties to agree any equity finance at a much higher price? Why? Well.. it means they get a slice at 18p+ rather than getting zero and the likes of Osisko getting another royalty bite.
I don't think we'll see any funding rounds kick off until after the AGM imho. I also think there's a chance that the chinese or BHP might well be in discussions with Newmont over their intentions for the 10% stake. Ironically, with the price at 10p, that's another reason why it's highly likely now that Newmont will retain the interest. They won't sell out at 10p when they know a corporate event could see them gain 3 or 4 times that. And that's assuming they want to exit.
At end of the day... Ecuador elections due in under 11 days. Newmont/Newcrest merger expected to complete this Q4 too. Further key Ecuador red tape expected to be signed before year end.
So loads of potentially linked events to unfold over next 11 weeks not to mention the AGM. And Scott is going to need the sp much higher than 10p levels if he expects to survive that.
FWIIW... I think we might hear from Scott on potential partner or sale deal on ENSA before the AGM pending more due diligence which to be honest is probably nothing more than the status quo now but the market will like that sound bite for sure.
When this moves back to 15p some will scratch their heads why it was at 10p in first place. But that's markets for you. It's casino time these days... 20% daily swings almost the norm. Market caps dropping by £200m a current event... for no reason at all.
Whilst its very worrying where the Sp has plummeted to, ive taken a few more under 10p, just incase it recovers over the next few weeks, if it continues to drop into 88p region, ill move on and sell the lot The last BOD update was a Disaster, nothing new to add, just BLA BLA BLA
Hi Sean. It’s still in my watchlist and noted the price weakness. Not much movement in MARU either as yet but feels like a nice share to own. Time will tell.
Let's face it Bozi, SXX was your classic AIM puff piece, driven along by retail investors feeding off dreams of something that was never going to happen. Even at its worst I doubt you could apply that description to Solg, however bad our management.
Sean - not guilty of that negativity, your honour.
Every chance something is going on behind the scenes.
Although it is amusing seeing you receive some of the medicine you like to dish out on the un -regulated site
Hi Mr Jitters thought you'd left for good.
Back to punt MARU again?
Morning all.
BHP is still interested may become partners in exploring and then take over, bargain under 10
The low volume suggests not Sid unless there is something going on behind the scenes. 30% knocked off the MCAP by just a few million quids trading over a few days.
Last time this dropped to around 1/ and recovered in few days to get over 15, I feel this will be back to 13/14 next week, typical market shake before news as usual
The one upshot hopefully is that this will send a rocket up the backsides of the BoD - business as usual not cutting it, talk of an SR and going into production destroying shareholder value. Time to start earning their keep and pull a rabbit out of the hat.