Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Merger in Ecuador (Adventus & Luminex)
Nice mention for us at the end too
https://www.mining.com/ecuador-focused-adventus-and-luminex-to-merge/
Faqueawl arok.
Hero to zero sums it up.
Was it on this BB that someone (can't remember who) used to point out a '1' buy (16:21:59) and say means RNS tomorrow!
Highlight of the day for me!
Psychological torture - any top-ups, won't even dent the (my) average :) !
What are they doing....from hero to zero!
GLA
I’m gutted Terry
I can’t go on. I’ve contacted the Samaritans and told them
I’ll cry into my white lightning cider before I reach for the flex and call it a day
Thanks for that MasterRSI...I had missed that second trade of the day at 9.79...
Big white candle...letys hope we've put in a bottom, but abysmal volume...
1984 filtered...58
But what does telling us how many shares you both have add to your argument?
It’s at best crass, at worst condescending
All the shares have cycles and SOLG is now on the down one after being a couple of weeks ago on the up.
Indicators it seems reached the top and now are going down with the shares.
BIG chart with Indicators .. https://i.postimg.cc/prM3nJ1g/big.gif
Appalling lack of interest...
We own 4 times as many shares as todays TOTAL volume...
Looking like the worst day in the last 5 years probably only saved by a couple of hundred k in the UT
If someone is trying to ramp up the SP could they try a little harder as it ain’t working !
Good to here from you bbg.
Not sure where you are this week, so I will cover all grounds.
If in England.... Good morning old chap.
If in Italy........... Chow Bella.
If in Australia.... G'day mate.
Hope your well.
Makes you think that perhaps they are here only to talk sh.it
Clutching at straws 1984....its only our SOLG holdings...
Clowns to the left of me, jokers to the right
Can someone ramp on Copper
https://blog.gorozen.com/blog/copper-inventory
That’s because you are a liar……you can’t even remember your own lies a week after you have posted the lie…..
Not bright but an egotistical, narcissistic fantasist……..
I have to say red ramper is hilarious, everyone apart from 3 posters are filtered but when the filtered posters call out his lies he then proceeds to post a detailed summary of his financial transactions to rebuff the filtered posters accusations…….
Hilarious……
1984
Because he thinks it impresses people……
He is deluded on every front, amongst all his other failings……of which there are many…..
Italian, I dont actually fall into the narrative of rampers and derampers.
I prefer fact based honest posters, to complete see no evil up to there neck fantasists
Why are people that highlight your constant inconsistencies called 'unpleasant' or 'sad'?
So by your own admission you didn't post about selling 700,000. Lots of positive posts about small buys but nothing about large sells? Smells a bit rampy to me... all the time lowering your average.
Thought you were just a trader but perhaps recent posts, and the "best hole ever drilled" debacle, shows you simply misinterpret things.
Red, why are you quoting yours and your wife’s personal financial information anyway?
Given your employment history that seems a very odd thing to do.
Rk. firstly its bs, secondly, nobody cares
on 17 may i bought 148,960 shares at c17p to reduce my average before i read about lasoos dissolution of parliament later that day. this took my personal holding to the highest it had ever been.
(by the way you need to be clear that sometimes i quote my own holding and sometimes my wife's and my joint holding).
overnight i decided that it was not smart to be invested while there was so much political uncertainty because markets hate uncertainty and ecuador could have elected an antimining president...
so on 18 may i started selling solg shares and sold 148.960 on 18 may at 16p plus which admittedly meant i took a small loss on the shares i had just bought.
i then waited and watched to see the market reaction.
but it couldn't be more clear on here that i constantly research metals and especially solg and atym.
unlike some, i take a view all the time and that means that there will be times when i dramatically reduce my holdings in order to avoid losing money. thwe net result also of course is that if i can buy back cheaper it dramatically reduces my average cost,
so by the end of may i hadi sold a further 700,000, after my statement that you have correctly reproduced:
"while the sp recovered in june, it continued to fall and i have rebuilt my position at much lower prices. my 90k july purchase was premature but since then i have traded in and out to reach my current holding of just under 1 million at an average of just over 11p...
i see no reason to change that until or unless something happens. i may be standing at a 20% loss, but we've twice before more than doubled our money in solg and i conservatively expect to at least almost *****uple my investment and quadruple my wife's investment.
finally, i manage my wife's investments separately and more conservatively, but unfortunately a recent purchas only brought her down to c12p on her 400k.
nmm you've only just arrived on 15 november and yet you say:
"you used to be a poster i looked forward to reading. now i just block out the noise."
so frankly i suggest you have far less credibility thatn i have and sadly you seem to have spent the entire week trawling through my posts just so that you can trash what i say...
sad...
to repeat.
i never ramp or deramp. with c1.4 million shares anyone can see that i am now immensely positive about solg and what is wrong with posting the positive things i see or work out through my research.
at least i don't keep slavislhy saying "we're going to production..."
and i state my invested position from time to time because unpleasant people like you come on here and call me a liar.
filtered...57...
And finally...
POOR LIQUIDITY
AS some of you know, I was a UK quoted company GFD and I can tell you that poor liquidity kills a share price...
Just look at GGP for example...liquidity was particularly good after the NCM interest and the SP went from 2p to 38p in less than a year...
But since then as news has been less exciting and liquidity generally much lower, the price had drfited back to under 6p until Havieron news ignited interest and liquidity...
This is the problem with 'junior miners' until big news breaks...metals prices rise sharply or M&A activity restarts, leading to a Junior Miner boom like we had more than 10 years ago...
So ironically liquidity returned to SOLG while Berry Street were dumnping their shares into an unreceptive market and ironically once they stopped selling and until all the shares were mopped up, the SP briefly spiked from sub8p to almost 10p...
So in conclusion, we need something to ignite interest and stimulate liquidity...the vast majority are fully invested and simply waiting for something to happen so we have no two way market to speak of.
And ironically if the share spiked for whatever reason, it would not only encourage buyers to return, but at successive levels would shake out weak holders, reinforcing the liquidity...liquidity begets liquidity.
In the meantime, rather than post inept or worse still insulting rubbish, please can we either sell out if you';re so negative and go away, or wait patiently fdor the biggest payday of your life.
1 The resource isn't going away
2 There's a copper crunch and a gold price boom coming...its only a matter of time
3 PFS3 will substantially derisk Cascabel and make the IRR look very much better
4 We can raise cash whenever we want through a streaming deal
5 But in any case with Operational cash burn running at $1m a month, we have cash to last us until June 2024 at least
Thanks for reading
So why IS the price so low.
Previous management cannot be excused...
Dumb Darryl and the failed cashbox raise and all the adverse publicity around it, plus it led to the resignations of two good people in Ingo and Ayten. The whole debacle hammered the share price.
It bottomed out at c13 having fallen from of 40plus only 5 months previosuly...
So we can say the underlying base that Darryl left, having destroyed value through incompetence, would otherwise have been around 15/20p...
The Cornerstone merger and 'Baseball Bat Bob's" extreme pronouncements created a temporary hiatus until, due to utter incompetence, it was realised that a full Prospectus needed to be produced...delaying the merger and creating added uncertainty, leading to the SP falling to another low of c13...
So there was still the possibility of regaining a 15/20p trading range and indeed the completion of the merger, a sharp rise in the gold price and copper stabilising above $4/lb took the SP to a high of 22p...
And even though we settled back into a 13/17 range, along came Berry Street's forced liquidation at a time when there was no news expected until Q1 2024, the copper price had also fallen from $4.35 to sub $3.70 and UK equities generally were in the doldrums due to high inflation.
So it seems we have settled into a new trading range around 8/10 until something ignites the SP again.
TBH I have confidently predicted that gold, silver, copper and Junior Miners will catch fire. Goldman Sachs are the leading analyst predicting a commodity price boom (it seems bizarre that in a period of historically high inflation, commodities have been left behind...)
https://www.goldmansachs.com/intelligence/pages/gs-research/2023-commodity-outlook-an-underinvested-supercycle/report.pdf