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Fwiw, I've taken the remainder of my profits in GGP. Some of it will go into more SOLG but I'll be keeping an eye out for trading opportunites with GGP. GL all holders here, even the impatient ones ;o)
I don't know about anyone else but I'm sick to deaf of hearing about Ggp on this board. Silent holder waiting in the wings to buy a lump of these Solg shares. Inevitably these will rise come mid October.. Feel sorry for those lth's who have a higher sp than this but Gla holders there's a trade here at this level. Fj. On a separate note awax nice wheels mate and enjoy the free ride!.
CD, I agree that NM should release some regional results by October. There's no excuse not to really and it would help his position if they were strong. Trouble is that we've only had one drill turning on Hueca to date so we're relying on the first 1 or 2 holes to come up trumps - what are the chances? Perhaps reasonable given that they've had years of data to refine the targets. Alpala was hole 5 - which was very good going, butmaybe they can even improve on it this time.
Zoros, you're turning out to be quite the comedian!
"In the perfect world, one would sell SOLG now, buy GGP until end of the year (after MMRE) and then buy back into a stagnant Solg. The question one has to ask is: will the Solg boat have sailed by then???"
Good evening Almostdone, the answer is yes, if we dont get the FN finance by month end, and the PFS is late, then I expect it to fall. However, it will recover again, when we get them. Personally I believe the PFS will be on time.
If SOLG is not in the 30's by end of this month then i'd be shocked. 40's beckons for October. I saw enough earlier in the week after BoA's 83p target note to see what's going on here. There's only one reason (actually there are two) why someone is working hard to cap SOLG's price and that's because they plan to launch a cheeky bid. The lower the starting bid the better for any predators.
The second reason is a little more complicated as it involved Convertible Bonds. If NM/Citi have lined up around $500m in convertible bonds, then they'll want to cap the equity price pre bond issue as it benefits their arbitrage trade. I don't think CB's will be involved until the rump of the finance has been agreed as that alone will offer the CB holders some confidence.
So I'll go with the first point and say it's NCM playing around with 10m shares to cap the price. They might only need 5m shares to play the book sideways for another few weeks. But as October 15th nears and Sept 30th PFS, they will become more wary of getting caught on the wrong side. So with a couple of presentations in the States due next week, I think you'll see them doing the best they can to cap things through to 3rd week in Sept. After that... it could be showtime.
The thing with SOLG is that the sp could trickle up 0.5p daily for the next 3 weeks and posters on here would be happy as larry. 10p gain to 36p levels after 3 weeks ... momentum building etc. It would be a happy BB. The alternative, is that it goes sideways for another 2 weeks and then in week 3 jumps 3p one day, 3p the next and then a few p over the following days to arrive at 36p (as an example) and in effect the same result is arrived at but with a couple of paint drying weeks inbetween. Does it matter how it gets there? Nope.
NM will be sweating it come early october if exploration results are average at best. He could be toast 4 weeks later if CGP have their way.
We are just over 4 weeks away from showtime. Tick tock.
Octopus: if that is your plan, get in early on Monday because of the demand from GDXJ which could and is expected to drive the price hard next week. In the perfect world, one would sell SOLG now, buy GGP until end of the year (after MMRE) and then buy back into a stagnant Solg. The question one has to ask is: will the Solg boat have sailed by then??? Z
RE: Alpala site visit may not be needed to finalise due diligence12 Sep '20
"...Nick Mather, CEO of Solgold expressed appreciation for Franco-Nevada’s support in the run-up to the final feasibility and investment decision at Alpala and " for Franco-Nevada's endorsement of the Alpala Project. The US$100 million of funding generated, plus the option to upscale the royalty by US$50 million for an additional 0.5% NSR at SolGold's option, will see the rapid advancement of the Alpala Project"...." Thanks Schlemiel. Z
I have been Invested in SOLG since 2011. I sold some shares and bought into GGP and EUA which, so far, looks like a decent decidion. I still have £100k in SOLG but very tempted to sell and invest into GGP with a view to re-invest in SOLG at a later date. Does anybody consider this a naïve option?
Alpala site visit may not be needed to finalise due diligence12 Sep '20
The proceeds of the financing are to be deployed "to fund the costs to complete the Feasibility Study and any surplus will be used for SolGold's share of the development of Alpala pursuant to agreements with the minority shareholder of ENSA, Cornerstone Capital Resources Inc. ("Cornerstone")."
As a result of the travel restrictions imposed to contain the Covid19 pandemic, Franco Nevada has deferred a site visit until restrictions ease, however, other due-diligence studies have been completed and "As a backup measure, both parties are also investigating alternatives to a conventional site visit".