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19.60 paid...now 10% off the 17.78 bottom...
Is everybody feeling better now, can I put the Epsom salts away ? Lolzzz
Still a long way to go but as we can see nothing to see or worry about here for about a year.
that's how it goes sometimes :))
ONWARDS & UPWARDS !!!
Current price 19.24/19.42 but somebody has just paid 19.51 for 100k...
Now up 6% on the day and 9% on today's bottom...
Makes sense Jerry...
And there's still no material selling volume...
Buys 'apparently' massively outweighing sells today...
And at Diggers and Dealers Darryl specifically showed a picture of a rock core from Helipuerto and highlighted its proximity to proven resources...
I'm guessing that the 'failed' raise could have been a prospective $50m to see us towards DFS and turn those drill bits...
While Darryl's much sharper focus on 'the next cab off the rank' might have seemed sensible at the time, he looks pretty stupid now with no exciting news to prop/lift up the SP...
I wonder why BHP/NCM objected to the financing(s)...its pretty obvious now...just look at the SP...
Finally, don't be spooked if Blackrock issues a TR1 with a decreased holding...they have held this share at a loss for some time now and the only way they can make any return until the big payoff comes is to keep trading them at the margins with CFDs etc shorted netted off against their core holding...
Why now*
Red, wish you the best of luck, but as per my post yesterday I'm struggling to get my head around why not and not before we have sorted out funding.
I may well be wrong, but acutely aware of what happened at GGP last week and am expecting we will see similar here - I.e. fundraise at discount after the SP was walked down.
All guess work, as per usual with this share.
RK, if the few instos that are here thought there was a fund raising imminent, they would be sellers of their stock, looking to pick it back up in the placing. Happens all the time, as I expect you know.
"Now back up to a collective 1.1 million..."
Shame I don't share your enthusiasm otherwise I'd have a few million here myself. Just here for a trade.
Gl
Last two times we bought at 18p or so the SP doubled...
Here's hoping...
Too early Woody...
Meanwhile bought another 106453 at 18.32p...
Now back up to a collective 1.1 million...
Red do you know if he exercised any of them, I doubt it?!
Remember Darryl was issued with 4 million options at 29.2p; 3 million at 35p; and 3 million at 50p on 5 July when the SP was 25.5p having been 35p only a fortnight earlier...
These options are now underwater by a total of almost £2 million...oh dearie me...
as share prices go down and in SOLG's case ' halved' in just a couple of months, you get squeezes on all kind of investors whether cfd's or long positions, spread bettors due to leverage and margins. So you get forced sellers. That often can be seen when TA is involved. Breaks of 20p support normally result in corrective moves to next support levels and so on.
One thing is pretty clear, and that is volume is still low and the big boys are not selling at all. The reason why they are not buying in the open market like before is because they are all awaiting the SOLG's guidance on equity raises or other funding structures. Like I said... if SOLG go down the Boliden route then I think you'd see a huge share correction back to the mid 30's in no time. Why? Because that would signal several things... 1. no equity dilution... although still need a $20m tranche or more for regionals... 2. BHP and NCM put in their box... so will they come out fighting with an offer or bid. 3. fully funded and no risk to downside ahead of PFS2 and porvenir pea.
Get the royalty deal done pronto and this could double as those on sidelines scrabble to get back in after selling out on the basis of an equity raise.
The Franco deal was great and really showed the market we can monetise without equity dilution. That was a big turning point so it's no wonder NCM and BHP want to knock that one on its head.
Sharket yes absolutely, as I believe the market has zero faith in our ability to deliver it.
Get the PFS update out ASAP and announce at the same time a strategic review for Joint ventures to expedite to production…
https://www.kitco.com/news/2022-09-01/-As-cheap-as-I-ve-ever-seen-them-Rick-Rule-on-beaten-up-resource-stocks.html
"The beaten up precious metal space has compelling valuation, said Rule.
Gold stocks relative to their net present value at current gold prices are as cheap as I've ever seen them in my career."
‘ The point is... there comes a point whereby you have taken a project fair enough. Then you seek a strategic deep pocketed partner or an asset sale and rinse and repeat.’
I totally agree here… I’d even add there comes a point ( or should come a point) where you realise it’s now just too big for little Solgold, and you just need to get it monetised with someone with much deeper pockets and more firepower to move it forward.. and that has to be in the interests of shareholders…
Orthern, conversely, do we not run the risk of the market ignoring those updates, knowing that a fundraise is imminent?
If you take out the COVID BLIP we pretty much touched a 6 year low today since the time of NCM's first major foray into SOLG helped propel the SP from 6p to 46p in 9 months...
I think the Porv and PFS update must be what Solg are hoping to change our sentiment…. And I’d like to think it’s common sense to get those out before doing any raise at todays depressed price. But my faith in the board is extremely low.
Looks like we are all just crossing our fingers and hoping. Something has to give soon
You can't take short term share prices as a basis for a sudden 'bite your hand off' attitude. That's nonsense. Look at Rio and turquoise hill. Shareholders didn't bite their hand off and their share price was at multi year lows. Rio then came back and upped the offer and shareholders still seem reluctant. Same could be said of Oz Minerals.
I think some on here forget that we have a monster size resource folio with Tier 1 project status. Ironically, NCM were calling Fruita Norte 'tier 1' when they did a stream finance deal. Compare that mine to Alpala and see what you get.
Unfortunately markets are markets and the share price reflects the markets view not the asset values. The latter only really catches up in full when a bid or offer arrives. Until then it's as discounted as the market pleases. Share prices go up and down and all over the place but they usually arrive at proper market value when the hammer falls or ink is dry. If Darryl or SOLG did a large equity raise now at 18p levels I think they'd be guaranteed to see their P45's come Dec AGM. They may as well hoist the for sale sign and book their nice options. SOLG have been flip flapping around buying time or stringing out time for the last 3 years and in that period they have eventually delivered PFS and a share price that is at multi lows!! What's to say that they don't arrive at DFS and are at even lower multi lows?? The point is... there comes a point whereby you have taken a project fair enough. Then you seek a strategic deep pocketed partner or an asset sale and rinse and repeat.
We've lost a completed year when not comes to exploration which is a huge shame. We might have found some huge holes with resources greater than Alpala hole 5 etc by now. And that would have only costs a small raise of $30m back in April.
And remember we've still got Porvenir and PFS2 to come...must be soon...
10 to 20 million eases the short term cash worries and gets us through the AGM...if we get that far...
If it goes ahead you could be left with just MAA and EG on the Board and then watch the vultures fight over our corpse at 50, 75, 100 or even 125...
Several people have said in the past that this share can't be shorted and certainly if you search on Ortex I couldn't find any shorts for SOLG...
However, that takes no account of CFDs, IG Index, etc....
We are perplexed because the SP is going down despite none of us selling and as somebody pointed out, during days where apparently there were more buys and sells...and a day where there was an over 2 million share UT at 19.9p...assuming that was a net buy to settle that makes no apparent sense, so...
Supposing in a general bear market, with no news and all the incompetence of the last few months, 'shooters' were hammering SOLG...this suits BHP or anyone else if they are either a prospective participant in a Rights Issue or if they have a predatory interest...
And surely a way could be found for 'friends' of BHP to 'short the shares as well...or the Chinese, for example...they don't care about anything other than their own self interest...
So if my suspicions are correct, if there was either or both a sharp correction in markets in general, to a piece of news even as simple as Valuestone buying $10m and short term money worries ameliorated, a spike in the SP could become pretty sharp if 'shorters' closed in droves...
This company is the same company as it was when Norge were buying like there was no tomorrow at 30p or more, except there's a few million less in the petty cash and they've lost IH, AS, KM and JW...
All opinions welcome...