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I think Ortherncopper answered your question Bozi.
Timing is everything and there's transformational and there's delusional, not saying that you are by the way.
Can you remind me who the first bidder was ?
Without Govt permission it's just a lot of long holes in the mountains, then the licences run out and then it's the Govts collection of long holes in the mountains that somebody was good enough to show them was full of copper and gold.
You've got to know when to hold 'em etc .
To be fair Bozi, if we had flipped it… let’s say around the time BHP were happy to pay 45p for a small stake, we would not have been rueing the lost opportunity cost of sticking with it for the last circa 5 years since then, hoping for transformational growth
Why Jezzoo?
On what planet do you find a tier 1 and flip it on to the first bidder?
SOLG might come off. It might not. But some of us were in it for transformational growth, not a flip and onto the next one jobby.
Well said bubble , that suited your agenda then. This share is a shocker , how could anyone hold confidently?
BPHL and Scrat good posts there recommended,zoros as ever on form with your negativity does make a good opinionated board lol!!:):)
Reuters) - Ecuador could hold early legislative and presidential elections on Aug. 20, the electoral court said on Thursday, a day after President Guillermo Lasso dissolved the National Assembly by decree and brought forward the vote scheduled for 2025.
Lasso invoked the constitution's so-called "two-way death" provision on Wednesday, which allows the president to call elections for both his post and the assembly under certain circumstances, including if actions by the legislature are blocking the functioning of government.
The embattled leader cited Ecuador's serious political crisis and domestic turmoil as reasons for making the move.
Lasso faces an impeachment attempt by opposition politicians over accusations he disregarded warnings of embezzlement related to a contract at state-owned oil transportation company Flopec. He has denied the accusations.
Lasso will remain in office and govern by decree until his successor and a new legislature are elected, according to the constitution.
The head of Ecuador's electoral council, Diana Atamaint, told local channel Teleamazonas the vote will be set for Sunday, Aug. 20, according to a preliminary timetable and in compliance with local laws, adding the date must be approved by the full court.
If there is a run-off election for president, it could be held on Oct. 15, Atamaint said.
Opposition lawmakers are hoping the Constitutional Court, Ecuador's highest court, will rule quickly to block Lasso's dissolution, which they have described as illegal.
Lawmakers of the dissolved National Assembly said they will respect the court's decision, even if it upholds the president's actions.
"There is a fairly high probability that the decree will be declared unconstitutional and that the Assembly will return to its duties and go back to the impeachment (of Lasso)," said opposition politician Esteban Torres.
Inclined to agree. Lasso wants a mining industry for sound capitalist reasons. He won’t be blocking anything by presidential decree. He might even be calculating his next civvy street career move too in the event he ain’t re-elected. And the Chinese seeking influence will likely fund serious candidates in Ecuadorian politics like big business would down our way. They clearly want chunks of the world in their sphere of influence so lending money for investment and supporting ‘sound’ politicians will be their game plan. If the pendulum is swinging left, I don’t see it as necessarily bearing down on our ventures. Understandable flap in the share price and a buying opportunity for the brave.
While I think Madpunters optimism that Lasso could survive in the medium or long term (highly unlikely) is highly unlikely I am of the opinion that the negativity from the usual suspects is also overblown
From what I have read the reasons for Lassos demise centre on crime, cost of living and corruption . I have seen very little , indeed nothing , to suggest that existing mining projects are in any danger . Certainly the Chinese with their investments and trade deal have not been deterred....and they will obviously be following developments closer than most.
Is it really likely that even a left of centre incoming government will choose to alienate the Chinese, disuade investors and move against probably the most ESG sensitive project in the country ? No chance imo
The Chinese , and multi nationals, are thinking in terms of decades. They know there will be governments of all persuasions during that period; some more business friendly than others . They will take the view of the possibility of nationalisation of industries such as mining in their calculations - just as private investors should ...(.sometimes I wonder if some of our solg investors posting have done any research into the country they’re involved with)
Anyhow, the point is the Chinese are still there in Ecuador ; Indians are still in the wider region all looking for long term copper supply for the smelters they’re constructing on a large scale . The Ec/China trade deal was still done .....a week ago ! ; corporate deals are being done . And I doubt any discussions on solg will be abandoned just because of some political turbulence which every sensible person should regard as an inevitability in S America .
The worst case scenario imo is a delay in our progress toward a sale
If there was ever proof that greed never ends well it's here today.
I bet Mather wishes he'd sold it years ago, he could be two or three deals down the road now.
A few on here will be secretly thinking the same but will never admit it.
Madpunter - you’re in Cloud cuckoo land
Prepare for months ( if not years) of nothing happening
Z
I find it hard to believe that Lasso - wallowing in the polls and unlikely to win the election - is going to double down on one of the main things the opposition party is vehemently against (mining).
As I said at the time I had 3 trances of 10k at 24p 16.2p and 14.2p and sold the lot at a smidge above 22p and did okay. Just wondering if I should try the same tactics again starting at 16p tomorrow reason being buy when things don't look great ?
And pigs might fly...
Virtually nothing has been happening with SOLG for quite some time. Plus we know that Bob and his baseball bat is trying to sell SOLG. We also know that the Chinese have invested in SOLG recently and have completed a trade deal with the Ecuadorian Government. Furthermore, the Ecuadorian Government has leaked information suggesting the development of Cascabel. Therefore, it's a fair assumption that the Chinese, SOLG and Lasso could be thrashing out a deal. If a deal is close, then Lasso could take advantage of this by calling an early election. When campaigning Lasso could then highlight the thousands of jobs from exploration, construction and from monies spent by those workers. Lasso could also highlight the investment into the country, plus the environmental work, healthcare and education carried out by SOLG in the local community. Plans to continue this work by the Chinese could also be highlighted. After COVID-19 and the subsequent economic downturn, this could help Lasso gain another term, and the benefits over the next four years could even be a winner for the subsequent election.
I see lots of people trying to rationalize, but I'm not sure a rational reaction to an unprecedented political event is to claim it was already costed in?! Before last week, I hadn't read a single article proposing that Lasso would dissolve parliament. So unless people trading this share had a better insight than his own ministers (on record expressing their surprise at his actions), this can't have been 'baked in'(sic).
Strange behavior, but whatever keeps fort/red/bubble happy and out of trouble, I guess...
Right now buddy, we are positively trying to spot a light at the end of the tunnel, the tunnel is getting longer, we are long and running a loss but we are not selling so we look to rationalize what is going on. No roses involved.
I'm trying to understand the relentless attempts at positive 'spin'.
It's not balance, because they do it even when the general mood of the BB matches their own optimism.
It's not attempting leverage, because even the stupidest poster knows they can't move the needle from a message board on the internet
They're not paid rampers (or if they are, they are God awful at it)
They are either underwater or have a very low historic average, in which case they've missed massive profit making opportunities.
So are they just bored? Do they just love to be contrary? Is fort stupid, misguided or sinister? Genuinely wouldn't want to call it. Anyone got any insight?
some posters here have their head buried so deep… they simply refuse to see… they will continue to claim that despite the ****e it all smells of roses.. and a few will try to reason to themselves it could even be a positive development
Colonel Drake - when are you going to smell the coffee?
The bottom line here is that the current political disquiet will cost us months, probably years of delays moving Casacabel forward. This is best case.
Worst case: The “Conaie “ will disrupt future mining for years to come, chinese presence or not!
https://www.bnamericas.com/en/interviews/its-worth-betting-on-ecuador-mining-despite-the-uncertainty-and-risks
This link is before Lasso threw all his toys out of his pram yesterday.
We’re now stuffed for an indeterminate length of time before we even get our mining approvals never mind starting construction.
I’m guessing 90 days of turbulence before a new coalition party who then governs until 2025 and then a leftist environmentalist party for a further 4 years. Maybe, just maybe the new installed government (post 2025) will allow existing miners to continue to develop.
“If Solg was a lager it would possibly be the worst lager in the world”.
Z
Ecuador and Lasso issues have been going on for over 6months now. For the market to suddenly wake up to it is a hilarious.
In 90 days time post elections, it's not going to be any more stable than it was before but you might have someone else in power that suits certain US or China policies lol!
In 1 years time it not going to be any more stable than it is now. In 3 years time exactly the same. In fact, it's just going to repeat what's been going on for the last two decades.
So why of why is SOLG having a 10% down day?
As I said, it's already baked in into the sub 20p price just as it was baked into the 42p price post Porvenir hole 1 news. Or 40p levels post PFS. Stability certainly wasn't baked in lol!
Nope
Mog ,I did say this before and got slated for it ,I can see it and a few others could it's just a matter of time which imho is very close hence we need news asap solgold
China has proven itself to be perfectly content to invest in unstable countries - you've only got to look at some of the basket cases in Africa for proof. They are the personification of long term investors and are working to a global strategic plan which puts us in the West to shame. I very much doubt they'll be put-off by the events of the past 24 hours.
Could be worth selling now and buying back in at 5p at this rate guys 🤷♂️
Mog,they gonna get this on the cheap imho