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I do roast potatoes and parsnips for the Sunday roast in mine, lovely and crisp. And Thai salmon fish cakes if you seal them in a frying pan briefly first
Sounds like a few funds in the UK have shut down and liquidating all their positions (including SolGold).
This is the risk of owning an illiquid investment - share price can move a lot based on limited trading.
I’m not losing any sleep - I’ve been doing this for over 23 years.
Takes a strong stomach to invest in exploration companies and the volatility is just part of the game.
SolGold is in the best shape it has ever been, despite the poor share price, so once the stock has been spit out, I expect we’ll see a gradual recovery.
There seems to be little point in discussing our mining company.
Does anyone have a good airfryer recipe?
Seriously
Kat, yes, I'm so bitter I added more today at 8.4. I still think it's cheap. Ridiculously so.
As for HUM, I'm 10% down, which is a damn site better than I am here, even after today's top up.
A turncoat and opportunist? After holding this for over 13 years?
You know nothing about me, clown and I'd prefer you keep your thoughts about me to your self until you have read a few of my posts and see what I actually think over time.
Anon3,
It's not just about share price reference points etc. It's also about market cap. When SOLG hit lows on March 2020 with the world ending and panic everywhere, the sp dipped to 10p. It didn't hang about there long... I know as I bought a a decent wedge but had to pay 11p for second wedge shortly after. The market cap at the time was about £235m. Today the market cap is about £240m. So not much in it. Hence we are at a comparable to 2022 cap. However, since 2022, we've spent about $100m on ENSA. We've also gone through a dilutive merger which means we now have 100% of ENSA. That's 15% more than 2020.
So if we were to compare apples with apples, then SOLG's sp should be around 4p higher at 12p levels and then that would be representative of the covid lows and end of the world fears.
Assuming the world is not going to end right now... we really should be down here. We should be at least 50% higher near 18p which is probably why you saw a decent placing achieved at 16.5p with chinese and others and Scott and co lapping up some nice options at 17p.
So forget about bids etc etc... that will happen when it happens. But the share price should be 18p+ right now and the market is giving away 10p to newbiews which is absurd.
The whole problem with this is an open ended strategic review.
No one knows what that means
There is no cum face at the end
What is a strategic review without a finale?
Anon3 - BIIIGGGG change from just a few days ago, when you said ....
" This is as cheap as it's been in years and well, it just seemed daft not too.
Here's hoping I haven't made a bad choice! " Doubled my Holding, 6th Oct.
So you are a turncoat and opportunist, obviously bitter that your previous purchase at a smidge under 10p has gone to hell.
Meanwhile, your obsession HUM has lost 50% since the summer.
Fort, I get all of that and agree with it.
Now explain to me what needs to change to bring a bid in?
To me the only thing is the review and the lack of anything there doesn't exactly inspire any optimism.
Perhaps it's because we need to realise that the sums don't work as they stand?
And the fact that things are taking so long might mean the company is seriously struggling to make them look any better, even with smaller projects at first?
You may recall I've said for a very long time now that I don't see a bid incoming anytime soon. I've been proved right there, but it's easy to say that now.
The concern is that there won't be a bid at all. Certainly not at anything like what some of us are hoping for.
You're right, there was massive fear during Covid. I remember it extremely well and was kicking myself for not buying at sub 10p.
But now things should be better, yet the sp is lower.
Some think the sp will bounce when the seller stops selling. My question would be why should it more than a small amount?
It's not deramping either (Red).
These are legitimate questions that the market is asking, imo.
And the board needs to start answering sharpish.
Meant... asset hasn't changed at all. It's got better.
Why would you adjust your your expectations of an offer to 16p when it's based on the asset and not the current share price?
Noront share price was 21 cents and the final offer ended up being 110cents. The starting point of the SP is often irrelevant when dealing with large assets that have multiple bidders.
Of course... someone can always chuck in a 16p bid and see how it goes but I doubt management will gain much backing for it.
Here's some context....Remember, when the world was ending in March 2020 and zombies were taking over or covid actually but the same apocalypse feeling was spread across markets. The Dow Jones plummeted from all time highs of 30k to 18k. SOLG dropped from 20's to 10p ish. The fear in markets was scary. And that's as bad as got for SOLG.
Now here we are with 100% ENSA (not 85%) major progress made on red tape issues, politics issues resolved etc etc... and the share price is 8p!! That's 25% worse than when the world eas apparently ending. That's how stupid the current price is.
But if a seller cares not a jot about price and wants to do damage to the sp, then there's nothing to stop them from selling hard and big. And that's what's happening or happened here.
Remember, when the markets sorted themselves out and realised the world wasn't ending... SOLG's share price moved from 10p to 41p.
That's why you should be revising your expectations on buy out prices on SOLG. The asset has changed at all.
Time for Scott to remind us again how fabulous our "Rocks" are! Sp probably rock-bottom now! LOL!
So...6 million average daily volume for the last 20 days...
From Twitter "Hubris Hunter reckons it's Berry Capital shutting up shop"
Spot on. The reality is that as much as we think it's a bargain, noone is interested.
That's the long and short of it, because if they were, they'd be in now at this sort of price. No not 8p, but certainly an opening offer of say 16p?
Which means we might need to adjust our expectations.
The prize is probably there eventually, but when?
I think I might begin to see this purely as a trading share from now on.
If noone's interested at this sort of sp, you have to wonder when they will be, imo.
Lol Bozi thanks ….. feeling more like an AIM stock by the day
DBW - we're not an AIM stock and therefore don't have a NOMAD. That rules out an announcement of that type.
Add to that the fact that the MMs are maintaining an orderly book. If they start to struggle the company might be asked to comment, but whilst it's - 5% a day they'll just let it slide.
Markets are only interested in what's going to happen next - ie news on Cascabel and all mgmt have done is kick any news up the street like a soft drinks can - the regionals have been available for interest for 2 or 3 years and nobody has been interested hence no offers - the strategic review is worthless without a conclusion - the market speaks loudly - mgmt at Solg offer nothing
Maybe we haven’t had one of the usual “ the company knows of no reason for the recent drop” releases because they are entirely aware of what’s going on ?
Guys , im not!!!!!! saying its not real. im just saying it feels like it at the moment, ive never seen such a huge resource lose so much value over the last 5 years,
well apart from SXX ,
i am a believer hence my recent buying
Roxi, a mate of mine recommended that film months ago, but I still haven't seen it. I'm sure I will eventually.
Roxi, what have you smoked?
The resource here is real and it's big.
Management is working to advance the main project and negotiate one or more JV for some of the other tenements.
However, since we are in a waiting mode before the new PFS and any other JV-type announcement, we are exposed to price speculation, at a time where the entire sector is crucified by investors and speculators.
Keep up!
I actually went against my own instincts and added some at just under 8.5.
That went well!
Don't get me wrong, it's a great price in the scheme of things, imo, but we have been this low since Covid, I don't think and it's all because there is nothing happening. And if some continues to sell down, you have to wonder how far it can still fall.
Even when they stop, we know the volume is abysmal, so there will be little to stop it from falling more, especially with all markets performing so poorly lately.
I still have some more ammo to fire here, but when to use it is becoming a bit of a concern.
As I said, this is cheap. But I'll always prefer cheaper :-)
Roxi
That film was an adaptation of the Bre-X scandal.
There's no comparison with SOLG. We have JORC reports on Cascabel and economic studies signed off by a number of technical people with the right credentials.
I certainly wouldn't be buying parcels of stock if I held the view that SolGold was another Bre-X. I get you're happy to scare weak holders though - just don't go selling your Jadestone to fubd there, OK?
Oh , ok didn't realize that, it must be hard for them to see the SP fall so low,
it feels like a film i watched the other day , think it was called "GOLD" about the miner who supposedly discovered a gold mine in Indonesia, raised a huge amount on the stock market, only to find that his partner had fiddled the assay results,
it feels like something similar has happened here, is the Gold and Copper Mountain just an illusion!!?
anyone else seen it , on Netflix.
And much higher discount rate...
They can’t , closed period ….. apparently