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I'm going to top up mid 12's next if it allows and keeping powder dry for sub 11.
I'm happy to walk away with 17p a share not being greedy.
What was the bhp proposal?
Next top up mid 12's
Yes agree - that's my point when I started the post. Norges and Chinese could pick up more stock in open market albeit smaller chunks but at present there's lack of heavy weight buying hence the drift.
Come on Fort. They could easily work 500k per day into the market and at around current prices over a month and pick up 10m.
Yes the SP would be supported initially and then rise but I'd be happy to say 20p would only be seen after 4 weeks of discrete buying.
The last time they were quite chompy and aggressive with large after hours in the millions. They can box a bit smarter than that,or their broker can.
I don't think that's case Bozi.... they acquired 90m shares + last year and if they were to try and fill their boots again even to the tune of 20m shares, then I doubt they would get sub 20p. You can 200k here and there around today's price but try and by 5m block and you'll be paying 17p+, 10m block and you'll be paying 20p+ unless of course there are sellers around who are happy to offload that kind of volume and as tings stand - there isn't. Just smaller pi action drifting and squeezing going on that I can see.
Don't get me wrong... I'm not saying they played a blinder but they haven't made a horlicks out of things just yet. 30p would see them out with some profit. 50p would be a successful return. Norges fund has lost billions over the last few years but they've had some gainers as well as losers.
I was just answering your point on Norges NOT being a great indicator and as yet.... we are yet to know as SOLG story far from over.
Monte - why would the company do a strategic review within a year or two of making a discovery.
Can you name any other companies that have done that?
Just look at the other companies developing projects... Filo, Solaris, etc etc. None of them are doing a strategic review.
Lets be honest and put our investments to the side. SOLG are only doing a strategic review because they've been backed into a corner by their partner and pockets of their own investors who aren't interested in the risk that comes with construction and production.
How much do you think a major would have been willing to pay after the initial MRE?
That's why I mentioned BHPs proposal. It's the only offer we're aware of that put a value on the company at that time.
Fort - not sure a 30% gain (assuming 30p cost) will represent a fantastic return.
50 and 60p slightly better. They've still had a mare. They could have filled their boots and some sub 20p.
'Solgold you ask? Solgold? remind me again.... Ah yes... Id forgotten about them... no were not interested in what happens there anymore.. absolute basket case and money pit... We have now focused elsewhere, and are busy defending a real Bid'
seems to have been a popular number this afternoon.
Incidentally, on Monday I mentioned we'd had the mythical 1 trade and lo and behold, an RNS appeared on Tuesday. Well, another single trade has also appeared today, so I can absolutely guarantee an RNS tomorrow morning...cough, cough!
Bozi
What would BHP have to do with it if we had a SR with a view to sell years ago?
If SOLG end up going for 40p or 50p or 60p+ then Norges will have done very well. You are making the assumption based on the state of affairs today. The reality is, should they want to acquire 100m shares now, then I can assure you, they would be able to get them for sub 20p.
That said, the chinese got a nice chunk for 16p but there's several ways to look at that one.
Todays sp snapshot is tomorrows historic view. Norges will not be watching SOLG share price on a daily basis and aligning it to every cat and dog event out there. They would have bought in on the basis of the asset. So if this goes for less than 25p then yes Norges has made a horlicks out of it. For now... I am glad they are on board and supporting the SOLG BoD's and the new direction as per AGM votes.
Just goes to show for investors... don't get too excited when a Norges type buys the stock.
They can and do make a horlicks of it. They have done so again here.
I know it's tricky buying large volumes in open market but a few million shares here and there can add up and is more than possible.
In theory... if the Chinese took 16p placing, then I'm sure they are more than delighted to be able to pick up some in the 13's. Thus far, volume suggests they are none too bothered as I can't see any major buying going on juts a few over stretched or lover leveraged retail players getting squeezed as it drifts down.
Same could be said for Norges. Big buyers in the late 20's and early 30's yet seemingly sitting on their hands now.
Weird old game isn't it?
If it hits 10p chucking in 50 large. Can't see it though.
Not everyone is skint novice.
Lolzzz Sharket, you couldn't make it up could you ;)) very funny reading this board from afar...
To get back in for the trade back towards 18. But let's see if 13.8 holds. If it doesn't, then March 20 covid low of 10p could be on the cards.
That's irrelevant it was part of my strategy to split my buys.
Their half yearly results are out tonight and some people are expecting them to say something about the NM bid. There is also a conf call at 10am, AEDT which I believe is 11pm. Very much doubt they will mention Solgold as they never do, but you could always ask a question in the q&a.
How much you down on paper Ray? Thank you for your continued support of the company.
10k @1381
Cheers
10k at 13.76
Cheers
What makes you think that flogging the company in 2017/2018 was right, Monte?
Work out the implied valuation based on BHPs proposal and you'll see that the market cap beat it on multiple occasions, which very much disproves your point.
Anyone can take a snapshot at any point in time and create a narrative.
Add
The reason I'm upset is because we could have told them to follow this new strategy 5 years ago.
What value have they added in that time, apart from the value in their bank accounts?
We are also putting our faith in them now to get it right even if a few new faces are involved now.