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Add, let us enjoy this rare moment of positive SP momentum today because tomorrow we might be back disappointed as it retraces!
Already obsolete
Morning all
9.18 paid 🤔
You've no confidence in Caldwell and yet you may have voted for him. Hmm.
SC knows that people holding 2bn shares want him to deliver (this was a staggering result, btw) and if he fails to do so I think it's fair to say he'll be looking for a new job come December '24.
Merry Xmas Orth, you gave me my first good laugh for the day. In return, I will tell you one of my old jokes.
A guy driving through Cornwall. He stopped at a pub for a pint. He walked in and found that the landlord offering free drinks to anyone who could make the donkey he had tied up outside laugh. Quite a few folks tried, but failed to get the donkey to laugh. So, he decided to have a go. He went outside and the others watched converse with the donkey. To their utter shock and a amazement, the donkey burst out laughing, rolled on the ground with laughter. The guy returned to the pub and they asked him, how did you get the donkey to laugh? He replied, I told the donkey that I have a bigger willy than he has. They asked him, and that made the donkey laugh? No he replied. So they asked him, how did you get the donkey to laugh? He replied, I showed him my willy:)
“ expect the worst, but hope for the best”. This sounds like it could be Solgolds mission statement.
Maybe that will be the official outcome of the Strategic Review.
Next targets...
9.30
9.70
10
11.20
14
15
Add, I don't normally say I told you so. But, from Lord Braggart and many others who tried to bully folks to vote their way, I will make an exception should we arrive at 2024 agm with no sale.
I made no secret that I have no confidence in Scott. However, I am open to the possibility that he might actually surprise us. But, I will not be holding my breath that he will actually deliver in 2024.
I dont think I have been all over the place. I have consistently stated that I have no confidence in Scott. I haven't changed my stance in that regard. However, when it comes to voting, I endeavour to look at the bigger picture and not boil things down to 1 specific. Like you, I can also be pragmatic. As for my confidentiality, when you last voted in your home town, be it for your local council, or at the last general election, did you vote in the open, or did you go to a booth to vote? Did you hold up your ballot paper and showed it to everyone present, or did you quietly folded it and placed it through the slot in the ballot box? Hopefully, you can appreciate why I choose to keep my overall voting confidential and maintain the sanctity of the ballot box:)
I would rather focus on an event that may be less than 35 days away...
PFS3...
Also we should be just about done on tax year end selling...now looking forward to momentum building in the developing bull market for Junior Miners...
Look at ADT1 for example...
SOLG next...?
Agree Add. What is the point of getting transfixed on an event 360 days away? I think we could be pretty derogatory about the thought process behind it but that doesn't get us anywhere.
If we get there, it'll be because management haven't been able to drive us to an optimal outcome and all decisions would nedd to be made on information available at the time.
One thing is for certain - everyone is pulling in the same direction and that is something we've not always been able to say about SolGold.
And I can assure you that if your prediction is wrong there'll be plenty of people on here willing to rub your nose in it.
Personally, I don't think this sort of thing reflects well on people, neither is it constructive and frankly, I'm surprised you've decided it's a good idea. Other people, yes, but not you.
As for your voting choices, you appeared to be all over the place, although you gave the impression of backing Fort's rather odd arguments. And why you should consider the decision is a matter of confidentiality is beyond me. Perhaps your hedging your bets? Still, it's your right to keep quiet about it and that should be respected.
Merry Christmas Add!
You know that I respect you as a poster, but with respect, you don't know how I actually voted aside from my posting that I voted for NM, and voted against 10, 11, and 12 and the rest, I kept private. Inspite of what some might think of me, I am not a turkey who would vote for Xmas. I took my time, think through my options, and voted for the options which will give the highest chance of a profitable end to this sorry saga. That is all I will say regarding my voting.
Now, I am merely pointing out that I have started to count down the days to the 2024 agm. We are now less than 1 year to that agm. Given how much hope we had for 2023 with most of us expecting that we would not be around as a company to see the 2023 agm, I think we should be prepared for the same outcome for 2024. If we do indeed arrive at December 2024 without being sold, I will remind you of my prediction.
As always, I expect the worst, but hope for the best. One thing for sure, it would appear that some companies don't want to step away from the trough.
The Noront analogy that the Lord peddles on a regular basis is at best a very poor one. (Personally I think it’s dangerously misleading). Plus wyloo wont be coming after Solgold. Nor will Rinehart. They are both moving in other directions.
BHP vs Jiangxi is possible, and probably our best bet.
Eloro, if you'd got your way at the AGM I suspect the chances of you getting your wish would have been almost guaranteed. Fortunately, you didn't and 99.9% of the shareholders who voted realised that Caldwell is our best hope of an exit.
If we all move our stock to the DRS (Direct Registration System) and away from brokers then short interest would decline Take a look at GME.
Sorry...should read
"Wyloo (led by Bob Sangha) acquired 37% of the shares at 20c..."
Thats a good sumamry AD...
For anyone who hasn't read the article that waynexx has posted, it only takes 3/4 minutes and could plausibly explaing a lot of what has been going on here...
The trouble is that I'm not the only one here believing short selling is being used to manipulate the SP here...
And based on the usual low volumes its not at all difficult and if you look at the individual AT trades, the average is very low, leading to the conclusion that nobody would make any money out of them, so manipulation is the only possible explanation...like when you get 40/50 consecutive small A trades in a very short period...
As any expereiced investor on here know, trades timed when there is poor volume can easily steadily push the price down...and even if the shorter has to close those by the end of the day, they would lose hardly any cash.
And if it was say Jiangxi they wouldn't care about the cost anyhow, because the end gain could be in hundreds of millions.
But I repeat...all we need is two determined bidders, whatever the starting bid is...
Noront shares were 12c only months before the bidding started. Wyloo (led by Bob Sangha) acquired 375 of the shares at 20c, but the final price still finished at $1.10c only a few months later...
The resources here way exceed what Noront had...
Short investing is, at the best of times, a dangerous game. It can lead to humongous profits, as it did for Michael Burry in 2008 when he correctly predicted the American real estate bubble would crash. But it can also lead to huge losses, as it has done for Burry in the last few months.
Three months ago, his 13F filing showed that Burry had bought more than $1.5 billion in put options, betting the S&P 500 and NASDAQ would fall sharply. In the intervening period, he has closed that position - apparently at a 40% loss. While there is some nuance to this story (including the fact that the $1.5 billion figure is actually the notional value of the short and not the actual amount of money at stake), it still proves how risky shorting assets can be.
Not that this has deterred Burry. He's already found his next target - and it's no small fish either.
Obviously not for the faint hearted.
Waynexx thanks for that link which I've only just got round to reading..
Its worryingly persuasive, especially this part:
"But veteran junior mining investors say that the removal of the “tick test” restrictions on short selling in 2012 have unleashed algorithmic trading programs onto the market that prey on both companies and retail investors. "
The trouble is there is no mention of UK regulators who frankly don't seem to care when a huge company like Halifax can almost be destroyed by short sellers, as happened in the Crash!
Short selling was permitted to facilitate 'more orderly markets' but in my opinion it has caused immense value destruction...and its so easy to do...
I am looking forward to what the pundits will post as we approach agm 2024 with no sale, no bid and further dilution.
Mgt could have put Solg on sale today at say 40p. May be the Chinese could have bought it.
A one way market is not healthy, any more than a ban on long selling shares would be.
Yes I know there is. I would ban it all regardless
Also, there is a problem with 'shadow' share shorting off-listed markets, using spreads and options.
There is a difference between short selling and 'naked' short selling.