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Gold price 1953 vs 1700 assumed...
Copper price 4.70 vs 3.60 assumed...
What the hell do people want?
Instant gratification?
Crazy crazy...down 25% on TSX in 5 days on total volume of $150,000 CDN
Down 13% on LSE today on 3.6m sales...that's less than three times our total holding...
So its PIs and autobots taking this down
CGP down 6% today on $35k volume...
SolGold releases “cash cow” plan for copper mine
Investors in mining hopeful SolGold (SOLG) will have seven years to wait for revenue to arrive, under the new prefeasibility study released this week for the Cascabel copper and gold mine in Ecuador. Now a decade into development, the new project timeline sees production arriving in 2029, at a capital cost of $2.7bn (£2.1bn).
SolGold chief executive Darryl Cuzzubo said the block cave style of underground mine, in which the orebody is blasted from below, would create a “cash cow” for investors, even if it took longer to build than a traditional underground operation. Average yearly production over the mine’s initial 26 years of operation is forecast at 132,000 tonnes of copper, 358,000 ounces of gold and 1mn ounces of silver.
Cuzzubo said the copper market was headed for an even tighter supply/demand dynamic than is currently seen, as forecasts of energy transition demand for the metal would “inherently underestimate” the tonnes needed, pushing prices even higher than the current $10,000-per-tonne-level. SolGold aims to update this study later in the year and then release a definitive feasibility study next year, often a final step before financing. SolGold’s major shareholders include BHP (BHP) and gold miner Newcrest Mining (AU:NCM). At the time of publication, SolGold’s shares were trading at 34p, down from over 40p earlier in April.
Guys the pessimism wouldn't exist if the price was still 40p - it has collapsed on small volume and the fear of a new imminent placing. But the fundamentals have not changed. Do not forget that PFS. Don't forget either the extreme likelihood of a bid this summer.
Brave hearts!
Metal , i'm hearing you.
A fair few probably got taken out today , which is maybe why it fell by over 10%. It's a dirty business sometimes this share malarky. I have never set one since i started this is 96 and never will.
A really depressing day but sadly not surprising for SOLG. When do we ever go up 13%??!
Hold tight , thats the answer. I have a few more quid to throw at it , it's a question of when , are we gonna test 28 again? After today , anything is possible here .
@Novicehunter appolgies, i am out of touch with SOLG, last financial crash 2009 she was an AIm share when i was here, some stocks for some reason still behave the same regradless of the market place, GKP is another one that has its moments like this. My feeling is this will drop further then bounce.
I feel a lot of emotional attachment on this BB to this share, itsa recipe for losing money and heart ache and a sure sign your over invested here. I dont trust any company these days with my money i learnt the hard way buying VOG back in 2010, all hot hair and BS by the board, constent dilution and consolidation.
For what its worth i would say its well over sold this drop, im prepared to put my money where my mouth is tomorrow if it reaches my price and expect it to be back to mid thirties in no time ))
As i said last week, the chances are it would go down, i didn’t expect it to plummet so fast tho, lets hope this is a massive tree shake.
On the upside, its a chance to top up.
Thuddy
Numbed one for hairy asses...i dunno, do i look like a biologist?
Evening BNC, I think some people are just selling after the PFS didn't give them what they wanted.
It will recover.
porv'
not sure who the moodswings jibe was directed to - but if it was my way I can assure you (regrettably) I still hold the effin lot.........
truly thought this time we were on our way...........properly..........clearly the market [or at least the manipulated SP that's been slammed in a couple of days] views things differently or at least those that are driving this nonsensical SP would have us believe the market views things.............
fk-in load of bo-ll-ox
Annoyed!
BN.c
not sure what your point is. someone sells someone is buys. but people are not willing to buy where people want to sell. so price goes down.
1.25 million sold and 975k bought, 13% down, how does this happen?
Ecuador is ranked number one in South America by the latest Fraser report, fwiw.
Good luck to "us." Yeah, nice trick. We know your moodswings match your position,
Yeah, but not hours after. Ffs...
No beating about the bush here Pinot - it an effin disgrace!!! period!!!!
Someone is yanking our chains here and thieving our money which is NOT on!!!!
PI-SS-ED [Annoyed]
BN.c
Oh Zoros... trolls from last decade are reactivated! Maybe you're just over-emotional, I'll cut you some slack. These guys could finance it I think, but so what if it's too big. Then they'll have to sell it to one of the twenty bigdicks who would love to own it. Or take a jv arrangement. Normal.
JG1964 "I am sure that even if Solg found at surface a 1km radius pure sphere of gold or copper, the markets would respond with the fact the find is the wrong shape "
I did chuckle at this as it's almost exactly the same as I posted about 8 years ago on here .
A Solg never changes it's spots.
cheers wave machine.....did you also warn us about the 40p recent spike? enjoy the 8p -10p party though ....sorry to have to give you the heads up but you're a bit late for that party....no need to rsvp
That would be almost 400,000 times more gold than has ever been mined, so the price of gold would drop to about 0.5 cents an ounce.
....I suspect. Though it'll never be proven in this manipulated market.
Feels like some entity is trying their best to run the price down.....yesterday's PFS did not warrant the drop imho.
I am sure that even if Solg found at surface a 1km radius pure sphere of gold or copper, the markets would respond with the fact the find is the wrong shape
On the call I found the new CEo to be very professional -however not as impressed by Ingo, but he appeared handcuffed or restricted with what he could let on
Lunchmoney - good post...agreed.
Only a major can take this to production now the facts are out. But they have now sat back and thought, mmmm, more to do yet before we take over. And so the journey continues.
Life's a bi t ch..........................and then you die ;)
Z
My guess having seen the last couple of days is news tomorrow or Monday with regards to a placing (hopefully at a reasonable level) followed by more drilling news to try and get this moving
But as Z says all guesswork for us PI’s
This stock (with most others....) is primed for using a trading pot.....if you brave (and lucky....)
enough top slice on the many rising occasions and follow up picking those shares back or even more on the many rebounds.....I managed to pick up 2 tranches today + will pick few more if the latest retrace continue....needless to say that my main core holding is left untouched for this ever delayed final pay day....:)
GLA.