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You really think this has anything to do with Evergrande?
I did say Evergrande debacle would cause this to roll over.
Sold 300k at 14p+ and just bought them back 10.50 with the view that if 8p goes forget it! Or BlackRock comes sniffing having sold 21p area.
Last shot saloon. But the risks are minimal down here roll on 38p sell next year!!
If I go to Cascabel with a bucket and spade then take my 0.0022% of the recourse, then pan it out, I'll get my money back. This is gold in the ground but a dodgy political climate. It will take a while.
Article in Reuters may find worth a read,good luck all l.t.h’rs
I buyer will not value SOLG on the PFS. The buyer values the asset on resources. The buyer has the opportunity to mine it all if they have the capex etc. Whether you spend $3bln on capex over a 5 year period from word go or whether you fund $1bln over 2 years and then rinse and repeat process on phase 2 and then phase 3 to reach that $3bln capex all depends on who's doing it. If you look at Mirador... that's the chinese model. They mine in smaller stages. It derisks and they make their cash as they go rather than plough it all in and take 4 years+ before they see a return. There's many ways to skin a cat as they say but it's still the same cat. The cat costs what someone wants to pay for it. As for market valuations... the market can't even value things very well at all these days so lets not expect it to value SOLG properly. Leave that to a buyer or auction process.
It's dire times in the markets... not many bright lights in mining sector. So probably worst time ever to try and sell a tier1 asset but then surely that's the best time to buy if you are someone like BHP or chinese?
We've been at 10p a few times and the bounce back to 40's has happenend many times over. If it happened again, it's not going t be a surprise to many. But dreams of £1+ likely only possible in a copper / gold bull market and that's 2 years away... and that's too long for SOLG for sure and Ecuadorians.
The problem with Scotts much smaller new PFS... and he does keep ramming home that it will be significantly smaller, in order to get the reduced cap ex... is the immediate headlines and focus will all be how much smaller it is now.. granted the aim is to eventually exploit more of the resource as was originally intended.. but that will be the take away for many... the reduced scale of the mine.. that is not going to create huge leaps in value... and if you accept that, then another royalty deal could be disastrous, if the economics are already borderline....
Remember the last time they shrunk the mine, Franco Nevada got an uplift on their deal..
I cant and wont vote for any additional royalty deal... no chance... They have totally wasted the last one from Osisko... What can management point to to highlight where that money went??? beyond the huge redundancy payments for Scotts efficiencies.
I don't think it's a coincidence that the share price has tanked over 20% since that Kitco interview was published on YouTube (4 days ago). He was asked some of the tougher questions that had been raised on this BB and his answers were both uninspiring and inadequate. Regretting getting back involved at 14p, but still a believer long term.
scott.... i would be coordinating a cr and will try and fund as much as possible of it (personally).
privy of news......i would be buying quietly as much as possible.... every day every month.
bhp.... i'd be looking like a ******** considering i paid 45p a long time ago....
maybe its solgold who is happy where we are... maybe its solgold manipulating the sp.... we are very very attractive at todays price....
I said last week where this was going I am now starting to think they are trying to liquidate it then someone will make money and it's not the PI's
DBW - that tells its own story I think given that the SP has been under increased pressure for whatever reason.
Orthern - I'm not sure he's inept. To me, he has been installed as a keyholder almost with a strict remit to cut spends, budgets, etc. That was clear from the outset as he never hid it. He shelved the DFS very early and so I think there were reasons to oppose him if someone wanted to send a message, as BHP and Newcrest clearly did. It still would have been futile mind because the key players would just find another to carry the torch.
If we are to believe Bob, and I know many do, he has been installed to tidy up the mess. That means doing less or none of the fancy stuff that makes us look good. I'm disappointed by that because I wanted some regional exploration this year but I think it boils down to trying to understand the power struggle and how that impacts what we see.
Rich3r - In the absence of a low ball (and I was worried about one of them since the Mather AGM as you may remember) then I think it's as we are into Q1. Reworked PFS to follow a phased approach. By that point, we should have something constructive with those under NDA. If not then they may look for another royalty if the stock price isn't where they want it for the CGP held shares.
It's just a huge game of chess. I don't like it as much as the next person but I'm holding through because I still think SOLG are in control, as underwhelming as everything else day to day, is.
Ray if it’s a massive tree shake then it stinks (as usual)!!
Will the reason behind this significant sp drop become apparent? I really hope so but equally doubt so.
Hi Bozi. How do you see this playing out then - if you don’t mind me asking? I’ve always valued your opinion even if I’ve often disagreed.
FWIW (nothing) my hopes of decent profits are long gone with this share. The malaise and rot have been ongoing for too long now. I envisage a sale lock stock & barrel around 20 to 30p. There will be rival bids but nowhere near the £1+ mark many LTHs expected.
All that said, it’s easy to be dower on a day like today - and maybe this share will finally deliver the goods one of these days. Won’t hold my breath though :-/
I can agree to most of that Bozi.... but last year, before the CGP merger, we had no idea he was so inept... and would set out on such a disastrous plan of stop everything, mothball the company, refuse to commit to any strategy and just hope no one asks questions..
Bozi weirdly it wasn’t that easy to buy at times today
The bid seems to have closed bang on 10p. Ok, what have we been taken down here for? To fall further? Or to bounce back, making a good few quid for those that engineered this on such small volumes? Or is there indeed a bit of news in the offing?
Add - anyone with half a brain cell knows this isn't Scott's fault.
The strategy is questionable but let's not kid ourselves - SOLG could have started drilling again and gone on a PR charm and it wasn't escaping this sell off.
This is what happens when a peer experiences a big shock. Investors read across.
Nobody can say they haven't had a chance to buy more stock this week. Granted it's not an easy buy but the opportunity has been there.
Voting Scott out at the AGM is shareholders putting their bruised egos before themselves. Scott is merely a proxy. They'll just get someone else and carry on the same way.
We're all locked in now. If you didn't like Scott then the time to voice displeasure was last year before the CGP merger closed.
Now we're past the mark of no return.
Fort even ramps on a day like this, when victims of his previous ramping in the 20s and 30s will be hurting, no doubt. Have a day off, champ.
The reason iis aren't rushing in today is the same reason pis are selling out. No clear strategy, no definitive statement of sale, mothballed regionals and all the hallmarks of an orphaned lame duck. No expectation that the share price will recover before the AGM (which fort said last year would never arise, as we'd definitely have been taken over by then...) So of course people sell. Full disclosure, I got out at 17p and intend to get back in again for another free ride. I think I bought the same day Red boasted about "having to top up" at 17p...
Might have some more tomorrow see how it goes.
12% down seems unjustified
Probably a good move
Lemmings are flapping and following each other off a cliff edge
Straight into the arms of the predators
Scott is toast. No way back from this... or is there Scott? If zero happens prior to AGM he's gone. If he delivers something that might excite investors and make many hold for another 3 to 6 months... then he stays. That's fair. He has to deserve the vote and along with that deserve those options. Simple as that.
Weighing up the various messages, I'd say we're spilt roughly 50/50 with regards to voting intentions, although there's plenty of nuance in some of the opinions and people may be swayed by what does, or doesn't, happen between now and December. Either way, he's not in a comfortable position.
I’m relieved that SolGold is committed to delivering value to its shareholders - don’t scoff - they must be because they said so last Friday in the RNS lol.
Anyone who’s bought & held in the last 6 months is currently underwater as the sp has dropped from around 22p. Not to mention folk who’ve previously bought / topped up higher than that - myself included.
What a crock of ….
That said, I’ve had a very small top up today because it seemed rude not to.
Come on 9’s you know we want you!!!
The short is neglible as only accounts for 15mln shares or even 11m shares as it was taken out before the share dilution post CGP merger.
It's nothing really but timing of it seemed to fit with last placing which saw Chinese and Maxit taking a wedge. Chinese have taken over 6% now so a 0.5% hedge by them is minor and to be expected ahead of the CGP merger deal as latter may have broken down at some point. The fact that the short remained in place could be 2 things... 1. It hasn't been updated. 2. The arbitrage trade still valid for whatever reason. And yes... some international entities can be very slow to announce short positional changes tut tut... remember Premier oil had a 20% short opened on them and it wasn't notified! That was a shocker. For all we know - that 15m of shares short may well have been closed yonks ago.