The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Annnnd SOLG sp down this morning?
A frustrating company to hold right now given the commodities rush going on in the main markets. Waiting patiently for a bid.
Which clowns said that once the BHP stand off agreement expired in Oct there would be a free for all !!! Mmmm
This really is a clever and coordinated attempt to bore this stock out of very patient holders sticky hands...
It could be,
After all, Quady bored himself off so what chance for the rest ?
I would say his remuneration is heavy performance based so considering he recently helped raise £50m, a fee being paid to Ingo equal to 2% of funds raised paid in shares sounds about right
An independant broker would be charging double that rate so both Ingo and Solg win
BBG a broker did charge that - so we're paying twice.
Personally, I'm all in favour of the guy being rewarded for long term performance, but I have a problem when the finance team of a company is rewarded for simply doing its job - and making sure the company has sufficient funds is part of the job description.
However, there's no suggestion these options are either a) destined for him or b) that it was as a reward for raising the cash.
We haven't been told what Mather is now receiving in his role as director. Perhaps this is his bonus in lieu of his pay dropping off from the $3.5 million p/a he was getting as the CEO. Mather was certainly one for getting his share of any bonus shares ....... remember the 30-40 million out of 55 million from the 60p options which expire mid year going to him. Only 5 million options was to be bought from a loan from the company so it is certainly feasible that a) this could be going to Mather and b) a loan from the company to the recipient is possible. It;s a gravy train for some!
Sorry...its not a Director, as it would have had to be declared in the Directors holdings, as his recent 5,000,000 options have been...
Copper up...gold up...silver up, BHP up...RIO up......SOLG down...same old same old...
Red,totally frustrating this share I've been here nearly 10yrs everything else is going up ,but this stays flat or down recently
I like it Bubble :)
The elastic has to snap at some point!
If copper, gold, silver, bhp and Rio is up and SOLG is down while trading within ~ 1/5p, then we all should realize that we are heavily manipulated. I am looking forward to the day when SOLG is released from prison.
It is not manipulated, there just isn't enough money buying the share at the moment to drive the price up. People say there are these large blocks on the ask of 500k or 1m shares at 30p or 31p. The idea that were it not for those blockers, the price would rise, and then more institutional investors would pile in at a higher price in order to sustain the upward price movement doesn't make sense to me. Why would fund managers be willing to invest substantial amounts of money at 40p but they aren't willing to buy 25% cheaper at 30p? If investors felt that Solg was such a great investment and was definitely going to be worth much more in the future than it is today, they would be buying up the shares right now and those large blocks of shares would get snapped up.
As it is, this is still a high risk share. The assets in the ground are incredibly valuable but they need to be de-risked further. More definition of the resources at the regionals is needed and the PFS and a realistic funding plan is needed for Alpala. News, PFS and funding plan will move the share price, we just need to wait for them.
Some blocks on the ask may deter day traders and short term traders but I don't think a significant share price rise is going to be driven and sustained by day traders, it will require more volume from longer term investors.
It's too easy to blame some nefarious manipulator when a share doesn't go up after you bought it. Reality is that more buyers are needed for the price to go up. Solg is hardly doing badly anyway. They just issued an extra 10% of the share capital of the company and the share price is actually higher today than it was on the day they announced the placing! The market cap of the company is about £71m higher today than it was when they announced the placing, so you could say the market is valuing Solg higher.
Hello Senderos, we currently produce no copper, gold or silver and won't do so for another ~5-7 years at best (Porvenir may change this). To expect our price to rise in line with mining giants producing vast quantities of those metals is thinking for the birds I'm afraid.
This share will move on:
1) Porvenir drillings results / MRE (my personal belief is that the company will deliver a sizeable tranche of drilling results from across the portfolio in due course, rather than update on a hole-by-hole basis)
2) The revised PFS (due later this year)
3) A takeover bid
We are now well-funded, sitting on the best copper/gold discovery for some time and potentially entering a commodities super-cycle. This share will come good.. have a little patience and ignore the day to day movements. 30p will be a distant memory before the year is out.
I read that China is liking Gold more.......... I have seen before where there is a lot of interest in gold then all things gold start getting more buys, that includes prospects with more risk. Just an aged observation. My first ever profits on the market were from such sentiment, having followed Alan Bond on his golden ventures, many years since. Its not just about what we have, its what others think it might be worth.
Thanks for those replies. My rant had more to do with frustration. Comparing the gold/silver/copper price with the prices used in the last MRE makes me wanna puke.
I have been in and out of SOLG since the lofty Solomon Gold days and have been reading those message boards. I have been holding DGR shares since those days as well and DGR is only double the price today when SOLG hit rock bottom @ 1p.
Anyway we can't change a thing. I always said, corporate action is needed and the sooner the better. I know everybody is talking about being only at the beginning of a commodity bull run.
I hope Nick won't let go of this once in a lifetime opportunity. GL
Not Nick's baby anymore. Blame someone else.
And some holders want 6 years of this nonsense where the order book and therefore the price is controlled by god knows?
What happens if Ecuador in 5 years time elect a Marxist leader?
Understand that this is Ecuador and not a western nation. Do not underestimate the political risk here which is why I want to see SOLG to prove up each asset and sell it for the highest price to one of the majors (let them absorb the elevated risk of holding assets in this region) returning the cash to shareholders. This is what explorers do.
News soon I think ,got that 1 trade ,11 trade feeling gla.
Schlem - the only political risk is the conflict our sale process may generate between US/Australia v China when either nations try to secure our assets.
Thing is about Blackrock, they are just reporting a total number, we don't know the breakdown of which funds or in what capacity they hold all their Solg shares. Some of them are in iShares ETFs so they have no real discretion about buying or selling there they are just going to track whatever the underlying index is. There's a chunk in their world mining trust. The rest could be active funds, passive funds, managed pension funds, managed institutional accounts... There is not just one big Blackrock pot that they manage for their own benefit. I don't really see them co-ordinating some devious trading strategy when their holdings are probably split across numerous funds and accounts with different managers. If they're trying to cap the price for the benefit of one fund they'd be robbing Peter to pay Paul imo.
They are one of the largest shareholders in BHP and NCM and all their competitors and for that matter most large listed companies. For BHP, acquiring Solg and all of its licences could be a key part of securing their future facing metals business for decades to come. If they ultimately buy Solg for $2bn or $3bn I don't think it's really going to move the needle on the BHP share price as such. But that difference would represent multiples higher return on Solg shares acquired for pennies. In the long run BHP will get Solg, but I'm sure a lot of Blackrock fund managers would rather see Solg bought for a higher price than a lowball.
Paints drying ATM ...tick tock tick tock :):)
Bought another 82,830 at 28.56...
Forget what you see on Level 2...I'm firmly bid now for 300,000...the demand is there...presumably continuing for institutions who couldn't get what they wanted in the cashbox issue...up to 30p judged by recent activity...