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10% and rising.
What's bringing all this on??
ππ₯π
Price now at the Daily 200MA. Through this and nothing but upside.
Good morning beast πͺ.....
Long it may continue and not before time......
Gla SOLGers.
84 please explain as to where DMAs are as I don't have level 2
MMs are nowhere the action. Have a look where theyβre sat on both sides in relation to DMA entries
You post that message rk in the belief that anyone actually cares buddy. Itβs irrelevant and anonymous
Sneaky little late post at 12.30pm for 2m block.
Looks like that 8m+ blokc from a few weeks ago is well and truly clerared.
Who's the buyer???
MM's starting to look a bit twitchy at sub 10p. Is their stock supplier drying up?
Worth a read. They've bought 10m SOLG shares of late so looks like they are getting positioned for greater things.
https://ncim.co.uk/wp/wp-content/uploads/2024/05/240508-CYN-Annual-overview-QD.pdf
Garbage again David...
SOLG may have been a 'takeover prospect' according to 'City rumours' and I'm sure Nick et al would have sold for north of a quid...
However, even as recently as July 2022, Cuzubbo and Marshall were planning to take it to production...
But Cuzubbo was already on the way to bankrupting the company amd was sacked accordingly
However, since October 2022 SOLG has DEFINITELY been up for sale...
BBG...have you completely lost the plot...?
He is a NED passenger who is enthusiastically supportive...nothing more...
PLEASE NOTE THAT STACKHIGH AND REDKNIGHT HAVE NO CONNECTION WHATSOEVER
Jerry, off the top of my head, no, I can't. However, I think this may be a bit different (I'm not saying we'll reach 10x, btw). The fact is the asset is woefully undervalued at the moment and consequently there's far greater scope for a considerable re-rate before a major corporate event.
Like you, I hadn't considered Glen a possible buyer/jv partner, but recent market sentiment towards copper has changed my opinion.
Happy Monday π
We've seen some moves on the 'diverse' shareholders book (lol!) and over last 6 months there have been some major shifts by fund managers as well as the exit from the MSCI we are aware about. The below might be of interest:
Key sellers
1. Blackrock held about 16m Oct 2023. They now hold zero.
2. Ninety One UK Ltf fund had about 16m Oct 2023. They now hold zero.
3. Magna New frontier Fund had about 7m Oct 2023. They now have zero.
Key buyers
1. Global X ETF held 35m Oct 2023. They now have over 50m.
2. Konwave held 18m Oct 2023. They now have 26m.
3. CQS Natural Resources G+I are new and have circa 10m.
Also, we previously had some forced sellers as some poor performing funds dissolved and closed.
Buying and selling is what markets and fund managers do but SOLG have had some larger players involved over the years and when they shift around, it takes time to see new investors pick up the slack. MM's will deal based on their clients requests so if they get a large order to fill and have a known seller at hand... they'll just get the deal done at today's levels. But when you have buyers entering with more force and weight and the MM's no longer have the supply of stock via larger sellers, well.... that's when the mm's lose control. That's when you see major share price movements and in this conducive environment... if SOLG's sp started going bonkers.... most would speculate of impending offers and M&A rather than just simple supply and demand easing. GGP seem to have cleared a seller lately and their SP is rising from the doldrums.
All holdings data above via morningstar.com
Afternoon Addicknt and others. I think Newmont see it as a financial investment and not a corporate asset for disposal, but I could be wrong. Up to now I havent considered Glencore as a potential buyer of Cascabel but now I am not so sure. They are a v big player in copper and their copper assets have risen in value considerably in past year, so they could want to reinvest some of their profits. Plus they are not at all scared by 'challenging' countries given how much they are in DRC.
But my one problem is have you ever come across a company or asset that sells for (say) ten times its market value?
Agree, we are in market (particularly on LSE) whereby brokers or analysts seem incapable of valueing stocks correctly and it's been this way since covid days. The problem is, liquidity has dried up due to belt tightening and fund managers are awash with easy money playing the pension type stocks drivel returning a nice 10%+ rather than the usual 2% pa. But times are shifting now and as rates fall (and they will) they'll be forced to play more speculative stocks. In meantime, it's bargain of a century time for predators seeking miners with heavyweight resources. BHP would not be out for Anglo if they were happy with their own copper resources. It's clear that they need to bolster that side of the business fast.
The irony is, had they made an offer for SOLG 3 years ago at circa 80p, they might have bagged the entire ecuador folio and would likely be 2 years away from production now and looking sweet as a nut going into 2025/2026 metals boom.
Sitting on their hands and trying to disrupt the SOLG Boardroom, using underhand tactics and generally trying to strangle SOLG into submission has actually put them back 5 years+.
If they don't succeed with Anglo.... just what are they going to do?? Other serious copper players have risen higher now and the element of surprise has gone out of the market now for them... but you wouldn't know it looking at share prices. Mr Market still asleep at the wheel. But at least there is something in the air now that suggests some analysts are getting a kick up the @rse for being a bit weak when it comes to reading the futures in metals and M&A.
Jerry, it seems as if the market is completely agnostic. The current long term investors are sitting tight, but equally there doesn't appear to be much interest from new holders - at least at disclosure levels. However, surely if there was a lack of belief in the project we'd have seen some shorting activity over the past two or three years?
It's also interesting that Newmont didn't list their holding as being one of their disposal targets.
Morning BBG, I agree, but why doesnt the market?
I suppose you could end that last sentence with breaks or brakes..hopefully you are right either way !
Nicely moving ahead with volume that is more than last Friday with 2 hours of trading
chart with volume ... http://uk.advfn.com/p.php?pid=staticchart&s=L%5ESOLG&width=600&height=200&p=1&t=1&dm=2&vol=1&cb=
1. Does anyone know of any other Tier1 copper/gold/silver mines that are 100% owned and up for sale right now??
2. Does anyone know of any super majors or deep pocketed state funded entities that are looking for Copper/Gold mines??
3. What happens to super majors and their CEO's when they fail to replenish their resources ahead of a metals boom??
I see Mr "I'll chuck 250k blocks into the market to stimie the rise" is active today. He's having to chuck more and more at this to keep it under 10p. When he stops or gives up... we will move like a train without breaks.
BBG, careful! Suggesting Henry has made a complete mess of it will bring down the wrath of SH. How dare you suggest you know better than Henry!
In the light of all market commentators saying he made a real strategic error with regard to both pricing and structure, I wonder if Stack has reappraised his opinion?
Incidentally, the BHP approach is already is already hostile. Come Wednesday, if he ups his price but maintains the structure, the market view is he'll fail and Anglo appear to have said as much.
Jerry, it would be a right shame if we did not achieve in excess of 3% (148p).
Sangha owns 5% of the co these days and I reckon he'd have his sights set on $200m for his shares.
Good Q Smick,
BHP clearly wanted AAL however it seems their process has been a bit of a fumble.
Does Henry go back for another friendly bite, do they go hostile, or save face and focus elsewhere.
What is quite interesting is 'what if' BHP and Solgold had agreed an arrangement (JV or takeover) after PDAC which involves Jiangxi in some for of JV with BHP.
Would BHP want to cause a bidding war with Solgold before making a move on AAL, or have they asked us to hit the pause button (don't release any news) until they navigate AAL which is clearly a much larger priority.
Would we hit the pause button in return for having received a good offer/price - absolutely.
Having been involved in Solgold for some time as well as building a large business in Ecuador, BHP's intention would seem that they are hoping to operate some assets soon in this country, yet they don't own anything.
I have discounted BHP recently as they remain mum on their solgold intentions however Solgold has been very quiet recently albeit confirming significant funding is possibly imminent.
There is something very big happening at Solgold BOD level and I would be silly to discount BHP from moving on us once everything comes clear after they navigate a deal with AAL.
The next four weeks are going to be very exciting