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Following yesterday's RNS, do you feel more, or less confident?
Whilst I hate the price I didn’t see any negatives in there moving forward…..
Thumbs up for yesterday's RNS, but reserve full judgement until a timely Strategic Review is completed and a fair price sale of Cascabel is achieved thereafter.
However, I do also hope it's not too little and too late from an Ecuador government perspective. Otherwise BHP and the likes will be waiting in the wings.
More now sorted
I’m glad it was all confronted and outed in that RNS. But, like the ABBA song, they’ve played all their cards now, no more words to say, .. but hopefully one more ace to play. It’s very much **** or get off the pot time now, as the pub landlord once wisely observed.
more.
We ticked all the boxes, we are cutting costs, we have a depressed SP and an even more depressed PIs base. Ideal conditions for an offer, whether it is for Alpala or the whole company.
Still annoyed that I am 40% down on my investment but I think I am closer to get my money back than I was last week
More confident add.
Sp is rubbish and is no reflection of the value of the company, just a reflection of management performance over the last few months. Thank the lord Scott Caldwell is starting to put things right and I personally found Fridays RNS refreshingly honest. Whilst the last couple of months have been frustrating, I personally believe the direction of travel is locked in and its now just a question of patience and belief in the new management to do what they say they are going to do, and reward all shareholders for their backing of Solgold.
We all believe in the asset, the outlook for the asset and the fact that the money men in charge want to move on as much as we do, so have a great weekend all and try and forget about your average buy price of this share as it will be a distant memory sooner or later. ATB, C.
add, I think the RNS confirmed what many of us had thought for some time, that this company has been appallingly run for some time now. Caldwell admitting this is a welcome and long overdue sign of humility, and it's good that our senior management team are now shareholders 'proper'. I think we're all suffering from a hefty dose of fatigue, having spent years second guessing what strategy is of the company we've decided to trust with our investments, and failing to deliver on what they have set out to shareholders (i.e. the countless missed deadlines, delaying or not publishing of studies etc.).
I agree with you that we need to give new management some time and the benefit of the doubt - it's just hard when the share price is languishing at lows and a few months into the gig they're already markedly late on completing the merger. A lot rests on the outcome of the strategic review and then their ability to actually execute whichever path we end up taking.
As I said the only NPV the board of Solg were concerned about was to maximise the NPV of their salaries divided by work done or effort expended
Less
Addicknt
1. The way Scott Caldwell has lambasted previous management, whilst many view has a specific purpose, leaves me uncomfortable. For example, did it really have to be done via RNS?
I mean surely the irony of criticising poor management whilst announcing a delay of his own wasn't lost on you?
2. The continued selling of the stock worries me. Plenty keen enough to take a bath even down here at 12p, confirming how far we've fallen whilst suggesting there might be further to go. At an advanced stage of a SR where are the speculators?
3. The potential impacts of severe workforce rationalisation. I'm not saying it doesn't need to happen but cutting a lot of positions together can cause us a problem in terms of knocking local sentiment. A dent to our social capital.
4. The fact Vujcic believes we are adequately studied at Cascabel. He's an investment banker, not a mining specialist.
Bozi,
"where are the speculators"...yes indeed. A valid point. The absence of buying from Norges, blackrock or the chinese is a concern especially at 12p/13p levels.
Putting that aside and looking at it purely from a traders point of view, the latter don't like zero news periods. So when the company says... erm... we now think we'll conclude the merger around end of Feb (27th) or possibly a few days later (early march) that's the green light for many to sell. Why hold stock for 10 days+ when you know nothing is going to give the sp a lift?
There is of course a strong chance that the RSI followers (they buy when RSI is low) will be wading in next week. In the last 5 years, SOLG has only been sub 21 on the RSI 10 times I believe. It's a rare event and is always accompanied by a decent bounce. Plenty of TA followers will be hoping for a dip into the lower 12's or even 11's but being too greedy can also see them lose out. Then there's the ARB boys of course. Some hefty shorts in play (they've already forward sold their 15 x SOLG shares when the price was 18p. Now they can either just wait until those 15 shares per cgp share arrive and close out or they might chose to close out a few in open market (some of that might have been going on in the 14's.
All in all. When you combine some over leveraged holders, factor in some squeezes, some ARB players, some impatient traders, and a potential 10 day sign posted zero news period.... it's a proper sheeeeet storm is it not??
I don't think the low sp has anything to do with fears over the business or assets or management but more to do with the notorious news void. Everyone knows that Scott and co are holding their cards close to their chest until AFTER they have their SOLG shares in the back pocket. Then and only then will they initiate the assumed ramp fest kicking off no doubt with a hole or two on Rio.
It seems to me that Scott and co don't want their CGP shareholders to be selling post share issue. Let's face it... why would they sell at 14p or 15p or even 12p?? That's a loss on the 16p shares straight off the bat.
Far better to issue those shares to CGP holders and then issue a bullish rns on plans going forward giving them all a solid reason to hold well into the mid 20's and beyond.
Bozi.
1) I'm please he made it public and it seems quite a few people on here agree.
2) Low volumes and small private investors getting spooked. Irrelevant.
3) Fair point and there is a risk.
4) As I've said previously, I would have preferred complete clarity on this point.
I'm not sure why your comments should add up to greater pessimism.
Fortissimo very good point why would they sell until mid 20s imho would be daft
TA
10p double bottom covid low for info
Posted on it tw-atter some months ago….
A few more essays posted here today. U guys crack on , its just a gamble from here
I beg to differ covgaz, it's never been less of a gamble at any point since the covid lows.
Yeah great ninnit. So tell what was your preferred sp then , and what is your get out price mow?
Just to make it easy for you , not patronising. I have 32k invested here at 26p , was hoping for 55p. Now just want my money back from this sh%tshow
Polls mean nothing , hard cash talks the talk. Why don't you guys shtyu th f7 UP . Sh%ttalkl EVERY BL%%DY DAY WHILKST SOLG burns. And all our hard earned cash. Ignore me all you like , I tell it as it is.
Fort, I do agree with you about the trader mindset and also the mechanics of the current share price.
Hopefully the tide can turn once the merger completes, assuming the company will have some positive news to share and the wider market is conducive to a decent recovery, because it is bloody well needed.
Add - those who are happy he made it public are our Exiteers in the main. They probably think it's suggestive of an offer or other transaction.
I just found it pretty poor to be swinging for a previous regime while guiding on a timeframe miss of their own.
Wait until the ship has been fully turned and any criticism can be backed up by fundamentally better performance.
Maybe I can turn your question on its head if you will allow? Why does Friday's events lead to greater optimism?
It doesn't lead to greater optimism bozi, as far as I am concerned this latest RNS is just a case of delaying the inevitable drop down to circa 5p at which point a 20p per share takeover by 1 of the 3 main interested parties will look fantastic for all new comers to the party , for us LTH we'll make a profit but hardly anything to write home about after holding for 5 or 6 years :((