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The market is very often wrong
Part of the problem is this is on nobody’s watchlist. Watch as the news seeps through other mediums.
Rock samples or not, they are staggering grades
The markets reaction to todays news tells us all we need to know about the impact of rock samples studies… that just happen to be released in the run up to the AGM…
only easily led, private investors, bought in this morning off the back of that news.. larger investors have clearly seen it for what it is…. It’s better than a poke in the eye… but it’s no drilling exploration permits granted and drilling campaign plans..
Nail on the head.......your 09.16 post!
Dear me orthern, you’re the sort of guy who’d win £100m on the lottery and still go to work. Might treat yourself to a used skoda. Cheer up!
For context, hole 5 had about 1200m at 1g/t gold
At 246, even if there’s only 4m of it there could be the same! And it’s near the surface
Had a feeling they were holding something back, has a deal for cascabel finally been agreed?
Orthern
I don’t know much about mining and I suspect a lot on here don’t either, however I know a fair bit about rampers and they are going hysteria this morning trying to convince anyone that will listed that this is the best news since sliced bread.
With the bid at 8.15p the market doesn’t seem to agree.
I have no idea what will happen in the future but the ramping on here gets worse day by day, no doubt promoted by rampers who are highly over leveraged and deep deep underwater…….
The 2 worst culprits red ramper by a long long way although judging from Byronbay golds posts this morning he is fighting for red rampers clown 🤡 ……..sorry crown 👑
BUYERS BEWARE!!!!!!!!
Idle speculation on my behalf, but quoting Nick may well be to demonstrate his value to SOLG on the exploration side.
Remember there is no Jason Ward anymore.
I.e. as usual there is a risk of him being voted out at AGM, and showing to IIs (even Newmont) that Nick is a valuable part of the team?
Orthern, as I pointed out in an earlier post, NM is the director with responsibility for exploration, so having a comment from him makes perfect sense. The announcement was approved by Caldwell.
I think people are reading far too much into this.
Btw, I agree with your other comments.
BBG, absolutely.
Now I don't like to speculate, but seeing Nick's name I could not avoid thinking that the spin-off strategy he was keen on when setting up the 4 new companies might be in play and he might take on at least one of them, and showing his name might be a signal to the prospective buyers. For once I will be forgiven for indulging in fantasies!
Wise words as usual rcgl2.
I guess there is/was a potential middle ground. Carve out part of the exploration folio so SOLG still retain upside - spin outs, JVs, sales ... or even handing some grassroot licences back to save (relatively immaterial I know) spend commitments.
Have c5 priorities at one time (more than enough for SOLG to handle), another 10-20 lined up with geo/surface sampling to identify next priority, the rest someone else is taking a lead on.
Probably a huge simplification I know. And may result in SOLG handing over some future Tier 1s.
But the current approach doesn't demonstrate a logical and clearly communicated strategy (on exploration / regionals).
At least to me.
(Sorry this is going over old ground!).
Well Irwin himself said £1 was overly optimistic
Calm down people… it’s rock samples.. not drill cores..
Anyone that’s been around exploration companies long enough knows that rock samples can amount to nothing..
This is more lipstick on a pig before the AGM to appease the plebs..
The interesting part is using Mather not Caldwell
All in!!!
Suffer in your jocks BHP!!! This will force for the bid!!!
And that suggests the possibility of an open pit mine for gold...
Remember we have several other gold prospects...Rio Amarillo, Helipuerto, Porvenir, etc.
What else have they got up their sleeve pre AGM???????????
For anyone (like myself) who didn’t fully understand the meaning/ significance of “boiling zone”
Epithermal refers to mineral deposits that form in association with hot waters. The deposits form within 1 km of the surface and water temperatures are about 50-200 degrees C. Shallow bodies of magma supply heat. The rising hot water carries dissolved gold and other elements. The water boils about 300 m below the surface and hydrogen sulfide gas escapes. This causes the gold to precipitate. The boiling zone is the target for mineral exploration. Veins commonly host the economic minerals
Mid to long term holders will remember what Porvenir Hole 1 did for the share price. We flew to 44p ranges within days from low 20's.
Just imagine how the share price would fly if we knocked out a few 1000m holes at Bianca?? It only costs roughly $300k to $500k per hole dependent on drill pad locations of course. For $3m we could have 6 or even 10 holes drilled between Jan and March.
Rcgl2,
Perhaps restarting exploration was a condition set by BHP and Newmont?? Perhaps they said.... get exploration moving again and we'll vote for you and give you some slack.
The irony is... the recent RNS is all about ENSA indirectly as it's potentially a bolt on to Alpala/North Ecuador. I'm sure Noboa will be excited too as he holds a stake in the block next door.
Most super majors just want to see the minnows doing the early exploration work. It's how they like it.
SOLGOLD came back to life today with that RNS. Exploration is the lifeblood and what excites people. Scott perhaps now realising his error and realising that he took the helm of an 'exploration' company not a development company yet he's run it as neither.
So perhaps SOLGOLD's return to exploration (date pending lol!) is all about buying votes or all about realising what shareholders really want.... which is kinda the same thing.
Adikt your recent post referring to nobody knowing what scotty boy thinks.
Is one of the funniest things I've red on here.
You, my friend spend your life telling us what and why scotty boy does what he does.
Also, how long are you going to keep spouting about us talking to 2 or 3 majors, before that theory goes the same way as most of your others
At least theres more PI interest in buying, although it looks like somebody has taken the opportunity to dump 174k shares...
The earlier comment about the thinness of the market bears out my concerns about liquidity but also means that concerted buying would see this fly...
I'm simply acknowledging the consequences of somebody else's idea...
So much gold at surface only 8km from Alpala can't hurt our takeover prospects...
Maybe Scott is sweetiening the pill for Gold miners like my favourite, Barrick to bid...?
Will this rise stick, and plus, by cob / the day after the night before (hope so as this RNS has gold all over it)....if not, its BAU and market will only get excited with a binding offer ! Everything else is tosh.
Lots of idiots don't understand the game being played by those wanting to create instability.
Our company has never been so stable and strong.
Incorrect.
Their plan is clear - to stop releasing news so that it avoids unwanted attention on the company.
By keeping mum, the company continues to advance cascabel which in a short period of time, will add much more value when we can demonstrate a turn key project for a $1b capex spend...
When Solg was exploring and regularly releasing drill results whilst claiming they would defend against a takeover, many voices on here were claiming a takeover was nailed on and Solg wouldn't exist by Christmas (every year).
Now the company has wound down exploration spending while it tries to sell itself or monetise Cascabel and there are calls on here shouting to get back to exploring!
I just don't understand it... This schizophrenic strategy of flipping back and forth between trying/hoping to sell and drilling/defending against selling cannot keep going on. It achieves nothing but constant dilution and the ever present risk of a funding failure and the wheels coming off the whole thing. Solg has too much on its plate to develop Cascabel and try to explore the rest of the licences. It needs to do one thing and do it properly, then do the next (if there is anything left in Solg after the first major monetisation event).
BBG, they don't understand the consequences of their actions. The company has been riven by division and disruption for a very long time and to create even more at a time when we're actively talking to interested parties is just utter madness.