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Because I believe it's ridiculously cheap, but the sp is tanking.
I really wouldn't discount 5p, because there's nothing to stop it as far as I can see.
It's losing 2-3% a day and it's fractionally over 9p now.
It's shocking what's (not) gone on here.
So anon, it's ridiculously cheap at 9p but it could almost halve in price again "because there's nothing to stop it".
If 9p is ridiculously cheap then what is 5p?
If SOLG sees 5p then we're in a spot of bother, that much is for certain.
We're 9p, a measly £275m, we know the outcome of the election and yet nobody has had as much as a tickle?
There should be big support for the stock down here but sellers are still in control. That's a bit unnerving truth be told.
Volume is pony, lets face it... 2m traded at 9p which equates to just £180k for goodness sake.
This is a £275m market cap company at the moment... was £600m market cap just a few months ago.
If someone wanted a 10% stake in SOLG... how much do you think they would have to pay for 300m shares?
9p a share or would it be more like 18p a share?
This is irony here... the sp doesn't really hurt anyone apart from those that are leveraged or on margin trading.
For long termers... it could be 18p now and not much would change to most intentions. Certainly feels doom and gloom in the low 9's or 8's but felt the same when covid hit and the sp managed to take a poke at 41p not long later.
MM's fishing for stop losses and weak holders imho and nothing more as the big holders are not selling ... well based on the absence of TR1's.
Fortissimo
The last rns update from the company produced this headline on ADVFN
SolGold swings to loss; needs extra funding to continue long-term
Do you really believe this sp doesn’t hurt anyone, it will certainly hurt holders if they raise cash at 7p………..
Fort - that's my point. Volume is pony because there's nobody on the buy side, hence we're facing a slide into the 8s at any moment.
Look at the volume for the last 3 weeks or so and you'll see it has trended upwards. Not to spectacular levels granted, but 4-6x the levels we have seen at various points ove the last couple of years.
Plus, nobody is talking about trying to buy 10% in a day or two, but if someone wanted to buy 2.5% a month for the next 6 months that's 15% and only 75m shares a month or 3.5m a day.
It's doable if someone had the appetite.
Tesla, why would we raise cash at 7p when we have sufficient for the next 8 months? And that headline, whilst not inaccurate, is wholly misleading.
Add
I’m not saying they should raise at this price, my post was in response to Fortissimo’s silly post saying the sp doesn’t matter.
Of course it matters especially to a company that may run out of cash, as you say, in 8 months.
Do you think they’ll wait until 7 months to try and raise further money?
The issue here is no one actually knows what is going on, with anything and that’s quite poor from a PR point of view…..
Tesla, no I don't, mainly because I think we'll have some answers as to which direction we're headed before June.
Hi Add,
I understand your position regarding not voting against Scott, or the other directors who will be up for re-election at the 2023 AGM. I have arrived at the realisation that in order for us to remove the current directors, we must have capable and qualified candidates to replace them, which I don't think we have. Much as it will pain me, I will vote for and not against the current directors.
Heres a couple of possibilities for the 'close period'...
1 There is some sort of deal for one or more of the 'outside' properties, say a J/V..remember we now own the former CGP properties...
2 There is a prospective stake sale of the 'Treasury' shares.
Now before you panic, suppose Scott has said to the three 'players' "the first one to bid me 17p gets the stake...?"
Watch the SP fly then...and not just to 17p...
Scott has made clear there is news coming and that the SP should be at least twice the current price.
Which strongly suggests he has something up his sleeve...
Best wishes
Eloro, sensible decision in my opinion.
Even by red's low standards this is desperate, pathetic stuff.
Cheers Add. Let us hope that we get some news before the agm.
It certainly is Stackhigh..