Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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ToS, I disagree - this is the first time we've been given firm assurance that Naboa is onside. Ecuador is open for mining and Cascabel is the jewel in the crown. This is excellent news for us and a long overdue re-rate.
ToS, the seller who was peppering the ask with 27/28k sells has finally beggered off today so could be a double whammy effect
Pbow - thank you, a very fair point about ENSA.
Also the "on behalf of SolGold plc and SolGold Finance AG" bit in RNS - i.e. who will be backing this via the Finance AG vehicle.
Interesting times.
Markets opening over the pond seems to be propelling us towards the leaderboard. It’s been a very long time since that happened, there has to be more news incoming. For me, today’s RNS doesn’t justify this. But what do I know. Ever the pessimist (sorry folks, it’s just a LTH Solg thing) I really hope this isn’t another false dawn.
Vol 21m , rerate on the cards, double figures for sp
Based on the Spanish I read it as referring to the fact that its not actually Solgold that owns Cascabel. Solgold owns 100% of ENSA which in turn owns Cascabel. As such it is the leader. Im not sure if the other examples are the same.
Stop spreading unfounded rumours!
ALLL INNNNNN
This aged well. 8.24 paid
Add,
Like the way your thinking
Big anomaly here now news out, significant upside and rerate to come
😅
8.06 on the bid. Only another 60p to go.
Intrigued to know if LB has examples of 'non dilutive funding'.
Well, one thing is sure.... every cat and dog knew about the Ecuador news and mining investment as it was telegraphed across news wires but SOLG was not named and left to guess work but savvy investors.
But you can bet your bottom dollar many knew about it before PDAC and many knew about it during PDAC.
So if the same logic goes for finance... or partners... then I guess we'll here about it 'soon' lol!
Mr Lui was the first clue... join the dots and suspect we'll hear pretty soon once he's more than 2 weeks under his noew role lol!
Makes you wonder where the 75m share block came from and where that block went to... especially as it seemed to be rushed through before PDAC.
It's a murky world out thee these days.
The choice of words here is interesting (noting it is an automated translation from Spanish):
"Cascabel, led by Solgold and signed by Scott Caldwell"
LED by Solgold.
No other company is preceded by 'LED'. Why is it used for Cascabel, given it is 100% Solgold owned?
Could this mean (and it is conjecture on my part) that the CIPA for Cascabel covers multiple stakeholders?
So Solgold plus JV partners (Jiangxi ? / Barrick?) or financiers?
"Among these projects are: Cascabel, led by Solgold and signed by Scott Caldwell; Crabs, by Lumina Gold, represented by Marshall Koval along with Diego Benalcázar; La Plata, from Atico Mining, subscribed by Alain Bureau; Cóndor, by Luminex - Adventus, signed by Álvaro Dueñas; El Guayabo, from Torata Mining, under the signature of Sergio Rotondo; and Bactech with representation by Ross Orr."
www.bnamericas.com/en/news/ecuador-signs-historic-agreements-for-more-than-us48-billion-within-the-framework-of-pdac-2024
Since 8.15 Monday, SOLG is up 40%...
Live by the sword and die by the sword... it works both ways. So yes... MSCI will need to buy SOLG stock in super algobot style should the stock sustain VWAP over the basic re-entry criteria.
That could be enough to push sp back to 13p/14p levels assuming our controlling hand decides not to fight against it.
Remember... the sp moved from low 7's to test almost 12p on weaker volume but over just two days trading and news since then has been more supportive and derisked SOLG/Alpala.
12p would appear to be next main target once mm's have dumped a few traders off like they did to that poor chap wildtiger at 6p yesterday.
8p about to give
A clever spot by HH...
"once Solgold gains in market cap it can reenter the MSCI Small Cap index for a UK addition. So on the basis of news the market capitalisation might be high enough to enter the next index revision which is quarterly. So call it short of 30million shares to buy..."
Unfortunately its only a quarterly review so this won'y help until May 2024...
However if its proportional to MCap, the MSCI tracker funds may have to buy many more shares...40, 50, 60 million...?
Aha...a much better participation by PIs in the last hour or so...
And a significantly better proportion of trades (and higher average value).
AT trades 62% compared to the average this year of c85%...
Onwards and upwards...
7.8p is not a significant technical level of any kind
Whoever originated that gloating ignorant post might have noticed we are up £39k so far today and £53k since Monday's close.
Not gloating...a long way to go yet...
I won't mention it again but I very much doubt an apology will be forthcoming...
Very nice, and a long awaited pleasant change, to see a good, solid day here. Hopefully the first of many. Not sure the announcement warranted this increase, but then again the low SP was always ludicrous. And remains so. Fingers crossed we’ve turned a corner at least.
Agreed, the seller or manipulator seems to have given up for now. They usually drag it back a bit before TSX open just to play some odd alignment game that never really exists.
PDAC really was a big one this year for Ecuador and not many saw that coming after recent drug land battles.
Be interesting to see how Noboa goes about the "Llurimagua" mine issues as I believe he's invested in that one himself via his banana money pre presidential campaig etc. Codelco smarting from that debacle and probably keen to see movement... or they might be keen to switch over to Alpala?? Mmmm. Could we see a consortium of ENAMI, Codelco and Chinese funding Alpala?? BHP might struggle to get a look in but seems like Barrick are on very favourable terms with Noboa and Ecuador lately.