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A poster on ceo.ca posted the following excerpt:
"Reverse split of 100 old for 1 new coming I'm guessing...
Time for Scott Caldwell to do something, ya think?"
I previously mentioned the possibility of a reverse split. Now others seeing that as a possibility. Not good.
Surely even Caldwell isn’t that stupid?
No reverse split / consolidation coming here
From Maxit
“No reverse split. Source of the rumor is a guess/suggestion on a Canadian chat board”
His thought on the SP reverse trend?
Dream people will always try to spread uncertainty on this board so its up to the individual whether they are believed. What's been rumoured would have to be voted through by shareholders anyway so just wouldn't happen. Think people out are starting to worry after today's tweet. I expect a strong blue day tomorrow.
HFH…. Hope you’re right about the price though I don’t tend to worry so much on a day to day basis. I’m confident value will out here in the end and we were reminded not so long ago how quickly this can move ( even without news & on low volume) ….. hopefully the revised PFS will make a few sit up and take notice and may even shake something loose.
ATB DBW
Share consolidation is the action of a desperate company imo
Agreed Paddy lucky we’re not doing one eh
HFH, I don't need to spread uncertainty here. Scott The Rocks Caldwell have overseen a total decimation of the SP since he became ceo, converted the SR into a n open ended charade which cause doubt, this after criticising earlier management. Yet you don't see that as a dismal performance. Instead, my posts are the root cause for the SP falling from 40p to 6p+? How is it trolling commenting on what has happened under his leadership and what could happen based on his previous record here?
We have been left with nothing but uncertainty to the point where folks have been reduced to guessing what next. The muppet here is the one who has to resort to name calling because they are too dumb to look at the facts as they are rather than their mindless ramping. No amount of ramping is going magically increase the SP back to 20p, let alone 40p.
It will interesting to read the posts here in the event the phased plan isn't published by March 31st. Ì suspect that in that event, we will be left to fill in the blanks as usual.
I am relieved to read that a reverse split isn't being considered. I would not be happy if that happened.
Eloro why did you think a reverse split could be a possibility and why do you think it would be such a bad thing for you as a holder?
Rcgl, he saw it on a Canadian chat board and read it as gospel. According to DBW, Maxit have denied it.
However, he's right to say it's a bad idea. I suspect that over the years most of us have seen companies do this and it's usually a sign of desperation and a vain attempt to demonstrate that a business isn't a bombed-out penny stock. In fact it ends up reducing liquidity and making the stock even less attractive to the retail investor. Fortunately, one sees far fewer of them these days as history has proven them to be nothing more than a futile exercise in window dressing.
The reality is, some funds or investment firms simply cannot touch SOLG shares even though they might want to because they are not allowed to buy penny stocks. Some have rules on market caps. Some have rules on regional issues and some have rules on governance etc etc. But majority of these firm tend to be blue chip focused only. They invest in commods through Glencore or Anglo or Rio etc. The idea of a reverse split is fine and majority of firms that do it are sub 1p.
SOLG doesn't need these firms to help with liquidity. As we saw with likes of Blackrock and Norges etc ... there is no real barrier to buying SOLG stock for most out there. A reverse split would open the door to other firms that trade only £+ stocks but it's not really worth doing.
What SOLG needs to do is bolster interest in the stock by actually having catalysts underway. That comes from exploration. And as we know... they are not doing exploration... they might be doing minor rock chip stuff... but no serious exploration. And they don't have the cash to do it anyway. The only event that will move the dial here and get the share price moving is one that demonstrates monetisation. It's long overdue now and the market is simply saying to Maxit and Scott... at 7p we think you can't deliver. If the price was 40p+... the market would be saying... well done Scott and Maxit... you've proven that there is a very good chance you'll bring this home. At 50p+ or 60p+ I suspect the market will be saying 'job done'.
No Add, I didn't take what I read as gospel. Also, you have a bad memory because you also commented on the topic when I first mentioned it several weeks ago.
Secondly, please don't speak for me. I am old enough to speak for myself, heh.
Rchl2, several weeks ago I raised the question whether an RS could be done here because the SP is so low? I went on to point out that I have seen it done in the past and whenever it's been done, the shareholders always got wiped out. I think my concern then was valid because we now have North Americans in charge here. I was surprised to see that an RS was mentioned on ceo.ca after I had previously mentioned it here and thought it best to flag the topic here. But like NAL correctly pointed out folks always resort to denigrating others who aren't mindlessly ramping. Shame on you Add, you are normally so level headed. Alas, you are becoming another BBG.
Sorry rcgl2 got your name wrong. Fat fingers on small phone.
Eloro, fair enough, however, I don't think I did comment when you first posited the suggestion, although I'm happy to be corrected.
The point is that at the moment most of your posts tend to see something and then place a negative stance on it. However, in this instance, you'll note that I went on to say I agreed with your observation about a share consolidation.
I will search back on my original post to refresh my memory on the discussion. I don't agree that I placed a negative spin on pasting a section of a post from another BB.
The arrogance, and self-righteous pomposity emanating from you Add by giving the impression that only your posts are acceptable, valid, and worthy. Any other opinion is negative if it doesn't chime with your world view. Sadly, I have to agree with NAL'S summary of your conduct here.
What utter nonsense. You're getting as bad as your Aussie mate. Your posts are consistently negative and how you could deny that is beyond me. Let's not forget your Corporal Jones moment last week, which ranked right up there with just about the most stupid post of all time.
Anyway, carry on Corporal.
Incidentally, have you found a comment from me on the consolidation issue? Because I can't see one.
Eloro. Pot and kettle come to mind
“ arrogance, and self-righteous pomposity emanating from you”. Perhaps you need a mirror too!
Aquinaga. immediately to the defence of adikt, how sweet.
the dream team,
WALTER AND MITY.
I'm expecting an email to turn up from Irwin any minute now.
they come on cue. somebody getting the better of adikt in a squabble.up pops Irwin.
like buses..... aquinag and Irwin come together.
There won't be one Add.
Unfortunately, Eloro can't tell the difference between companies that consolidate simply to increase the share price and reduce the shares in issue with ones that do it purely with the intention of printing new equity at every available opportunity.
Bogoff ….offer still running I see. Up late in Australia
Paranoid, sad, lonely galah. Needsanewmedication either the current one not being taken or needs changing. Perhaps a mirror isn’t a good idea for potty mouth galah. Who’d want to look at that all day?