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Miagi, know you read my posts, so you will remember that I think this could be sold, I just think production more likely, as we continue to make progress to production, as fast as we can. Day by day, I see this will be harder to sell, as more split book, the main holders, will not relinquish without a good price. Just makes the case for production more likely.
"It's just you get trapped into a line of thinking." That's where you come in Quady - opening my mind to the other possibilities (production) :)
Understand Miagi, It's just you get trapped into a line of thinking.
Addicknt made me think this morning, as to if I think if BHP funded Solgold, would I be for or against it. I didn't have an answer, as just never thought about it. I am now thinking about that possibility. All the best.
If he's a trader, the only reason to DISS the shares would be to get back in lower...but then no man is an island....
Quady, as you know I'm more in the take-over camp than the production camp, primarily because it's a bird in the hand versus two in the bush, it takes away the risk and because BHP will make a move (how can they not?!). That said, I am absolutely not averse to this going to production - I do believe that NM can pull off the financing (the risk is obviously there though), the permits will come (as the gov want this badly), and I've got time to wait 5 years if needs be. And what a beautiful thing it would be too, if NM can turn SOLG into a major.
I agree with the summing up Miagi. IE: What's not to like, but for differing reasons. This is just the next stage, as we proceed to production. NM is doing the correct things at the correct time. After PFS, dare say we will see further appointments. No reason, apart from next stage being executed. All the best.
Hmmm, I think you might be right there Quady. How Tiger came to the sudden conclusion that this will not be sold, based on today's RNS is beyond me though. Today's RNS was very positive in multiple respects as has been discussed:
- it's significantly addressed the "concerns" on which the call for the EGM was based (short of actually removing NM himself)
- it's shown that NM values his position at SOLG above all his other commitments (this is clearly where there is legacy potential)
- it's shown that NM is sweating a bit (a good thing - focusses the mind)
- there is going to be a review of the renumeration (didn't think the wages themselves are too bad, but hopefully this put an end to confetti options - a good thing)
- they are going to strengthen the board with independent non-execs in the coming months.
What's not to like?
Good afternoon Miagi, maybe your looking at this the wrong way round. Maybe Tiger sold out, because he is a trader, and as a trader, wants a quick profit, and move on to next deal. Maybe although he believes this will be sold, he is starting to understand, that NM can stop this, and go to production, and he is not willing to wait. Everyone to their own.
Tiger, got to say that I don't get it. You're generally a well informed investor, which is why I'm taken aback.
It's as CD said: I just do not understand how you can place your bets with Betts in HUM over NM in SOLG. Betts has got a LOT to do to prove credibility, whereas NM has a long track record of selling companies for a very healthy profit. Yes, HUM on the face of it looks materially under-valued (esp. with these crazy gold prices), but don't under-estimate the power of Betts to spanner it up. Funny, I sold my HUM shares far too early, as it turns out (34p), because I didn't trust management. And you've gone and done the same here, for the same reasons!
Oh dear Tiger...apart from your hilarious selling out (full marks for integrity on that BTW...), once again compaRING THIS WITH SXX...
Are you that deluded or is that your rationalisation for selling on fear...
And this is the guffaw...comparing POLYHALITE (fertiliser) with gold and silver!! (Did you miss the Tier One copper resource BTW...)
I sincerely hope you didn't lose a bucketload in SXX but I suspect from your comments that you did...
Now that you're out I don't expect to hear from you until you're back in again...at a higher price...with seller's remorse...
BTW what was your exit price...25.9p?
Good luck with wherever you go next...ADT1 flying today...
Wow TBTT, that was a surprise.
I can only say that you are indeed wrong!
Theiceberg ....
“ I am not even that excited about the current SP as this is so just the start....”
Oh I am so glad someone else thinks this. All this talk about breaking resistance at 27p and big buys.....for heavens sake. It was driving me mad! We need news. And lots of it.... or a bid or two....to move this anywhere near value of what we have in the ground, and that’s leaving aside the extra value achievable if you are one of the folk who believe Solg will still be around when it comes out.
I am glad he's gone, whatever his agenda was, it certainty had nothing to do with the SP or company doing well, his spinning of news to make it appear bad even when it was obviously good was bordering fox news and trump worthy.
For SOLG it makes perfectly sense for the company to be as attractive as possible for bigger investors with improved governance before any major news, such as PFS, conditional funding and regionals, so that they buy in, increase liquidity and help the company to grow when news is released. The last thing we want is the short term small investor selling on news and the SP dropping.
I am not even that excited about the current SP as this is so just the start, its unbelievable.
Using Latest Metal prices we have over $43bn in gold in resources, close to $100bn in Gold, Copper and Silver in just one resource, with the potential in many more resources of this size to come.
That $100bn Resource of Cascabel has BHP, Newcrest and Franco all connected to it and a PFS due next month with a full DFS in less than a years time. 500m or even 800m comes not close to the 100,000m that is contained in resource in project number 1, let alone project 2 thru 5.
Any profits taking at anytime can't be a bad move,so good luck....YET,I will wait to circa 30p to be tempted topslice of my trading pot only....
Not to mention of course that my main core holding (keep on growing...) is there for the longer term,as long as it takes.....
GLA.
Tiger, I wish you well in your future investments, or should I say trades. I make the distinction, because you wanted a quick profit, and nothing wrong with that. But I have always looked at Solgold as an investment. Like all my holdings. I am not a trader, so don't have that mentality. All the best.
You really need to read the rns and as NM quotes ( to see best value for all shareholders!!), he is true to his word from day one solgold was formed ,just read his history ,hes now pulled himself into one company with huge potential to offer the biggest payday for all shareholders med/long term ,wether we see funding in billons of dollars for alpala or a takeover youll never have a better opportunity to buy into a massive project again imho ,so good luck with your small profit as BNC says profit is profit and enjoy ...
Funny idea of what signing off means too , English not your first language?
Bye
Well, you can work that out from when I first posted. My first buy was at less than 20p.
As for who is stupid, I reckon I was pretty dumb putting money in a company with dire management like this in the first place. And I reckon participating in a board so plagued with group think and rudeness as this one wasn't too clever either.
So my bad...
TBTT
Good luck with your future investments. Profit's a profit and not a loss ;o)
TTFN
BN c
Of course you’re signing off , you’re about to be made to look very stupid .... took 20% profit yeah right lolololol
Hi L2!
No, I mean over-ambitious CEO refuses friendly farm-in and takeover offers from majors and tries to finance a complex and expensive mine on a "go it alone" basis. Fails - inevitably. Majors wait until the last moment, and then buy it up for pennies. Almost total wipeout for long term shareholders.
But you already knew that, didn't you?
Signing off here now. GLA. But this one isn't for me.
"This is SXX all over again (except in Ecuador not Yorkshire, and with gold and copper not fertilizer!)" LOL ... as Del boy would say... what a plonker!
tiger do you think you can wire electric cars with fertiliser?
Good now move on, I don't think you can tell apple from pears
Sold - at about a 20% profit overall. Not bad for a few weeks "work".
But this profit was luck and not skill. I underestimated the acute problems of this hopelessly mismanaged company, and I wouldn't take the same risk again, even with the price back at 20p. I'm convinced that NM will not sell SOLG willingly, and that any takeover will need to be hostile. And if you are BHP or Newcrest, what's the hurry? Unless a rival bids first, why not wait and let NM drive the company into the wall, and then pick it up for pennies in a year or two's time?
I know the board will mock this post, but wait and see. This is SXX all over again (except in Ecuador not Yorkshire, and with gold and copper not fertilizer!).
Anyway, GLA, and I hope I'm wrong!