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Bozi - from my earlier post:
"Certainly a lot of chickens have come home to roost from all the bad management down the years - "paddle our own canoe" and other nonsense has cost us dearly"
That's the root cause. The immediate cause is small investors throwing in the towel - just like the immediate cause of a spike to 40P is small investors rushing in blinded by greed.
Anyway, at these low volumes it's all a moot point. As I said earlier I wish we knew someone who could put in a dummy buy for 25 million shares. We'd get a better idea of where we really are then.
Are we really only worth £360,000,000 now? We won't know till someone tries to buy us for that amount.
Hilariously, you genuinely believe those web sites you referred to are expert analysts in this stock. Honestly, you couldn't make it up.
There you go again adikt. You just can't separate fact from fiction can you.
I have never said we haven't got cash to last us till June 24.
But again your showing your completely out of your depth.
We won't run upto June, till we run out.
We will have to raise long before then.
Sp 11p now. Company in mothballs. Skeleton staff, can't find a buyer. What do you think the sp will be after any cash raise.
Hence the analysts recommending STRONG SELL
Eloro - maybe there's nothing to say that can protect the share price.
Maybe we've got to accept the fact that we've invested in an asset that becomes fairly marginal in a horrible a macro environment as we have now.
It's case of everyone believing we're sat on a tier 1 because Fort and the likes have rammed it home the last 12/18 months.
In reality there's a lot more nuance.
Sean - don't blame this SP on shareholders who don't drink the kool aid on the daily. Blame it on the management of the company and their advisers.
Some of us were bemoaning this trajectory in the 20s and Scott's decision to mothball everything and just wait is really coming home to roost now.
I'm patiently waiting for the point where Warren sees his ars*. That will be worth viewing.
Subby77, lots of selling in very small volumes. This sp always sinks when there is no news, and the current situation entails no news on the horizon for months - at face value at least.
We painted ourselves into a corner by making it clear that all we want now is a sale (you can ignore any nonsense about building a mine) and in that binary situation it's either a sale or drift downwards.
For the record I'm 100% behind the strategy. It's a sale or nothing. Of course the falling sp is giving the more flighty amongst us the heebie-jeebies, but I'm hopeful that a very low share price might be the trigger for a low ball bid that sparks a bidding war. Meantime, the weaker, more easily frightened smallfry are being picked off in a slow motion treeshake.
As for the tier one asset - we must have something, otherwise why would so many trolls dedicate their lives to posting on here every day under multiple aliases?
And everything was so rosy with the CGP merger.
Fast and smart LOL.
Sorry pushed the wrong button. Was going on to say bbg. Do you not think you have lost all credibility on here, with your wild claims of multi
Country residency. Do you not think it's time to take a back seat and reflect for awhile.
Because I for one am finding it increasingly hard not to laugh at your every post
Ecuador Elections due October 15th and we know both candidates are pro mining but one of them is certainly more than pro mining... he's actually actively invested in the JV Codelco project. Talk about potential conflicts (politics and personal business etc etc) but anyway... suspect we might see a bounce soon as elections near and SOLG's RSI is on the floor... traditonally or hsitorically that doesn't linger down in the sub 20's (rsi) for very long at all.
Whether Scott feels he's done the right things or not, I think even he would be asking for Darryl's or (in past) Mather's head to be chopped if the so was sub 12p. So I think he knows he's toast unless he pulls something out of the bag. And that's 'toast' or 'goodbye' to those share options or grants as well. Bye bye to those Scott.
Bbg. Do you
Eloro. You seem like a nice fella. Don't take this the wrong way mate.
But you seem to make your investment decisions on what Caldwell, irwin and the likes of fort post.
That my friend will lead you down the adikt and padmaster path. They to base everything on what a company ceo says.
Have you ever bought a second hand car.
Adikt and padmaster are a dodgy car dealers dream customers.
Don't be suckered mate. Do your own research
It would appear that Canadian investors are equally dismayed by Scott's poor performance.
Adikt, With the sp now at 11p. It appears those fake analysts you told me about.
May all of had a point, when they all recommended STRONG SELL.
Also maybe aquanaga and all those other posters who have me on filter should rethink it.
I appear to be the only poster on here calling it correctly. And might add have been all the way down from the high 30s.
Padmaster it's interesting that you daily extol the virtues of the solg management, and write funny ditties about those who don't. Yet the sp is and has been in free fall. Makes one wonder who got it right. The ditty writer, or the ditty recipient.
Agreed Fort,
There are some interesting comments on ceo.ca, 1 I will paste here:
"My initial hypothesis is that there are always investors who have information that most do not have because there are always leaks. I bought Solg shares in March around 14.50 because I thought the company was primed to be sold quickly. First, it seems that the market thought the same thing because the price rose to 22. Then something changed and all the conference calls made by the company didn't change anything, on the contrary! WHY? First of all there was this strategic review. My understanding was that its goal was to determine what was the best option to retain in order to maximize the assets of solg in the interest of the shareholders (For example, maintaining cascabel and perhaps porvenir in a company with the aim of sell it to the highest bidders and bring the rest to another company whose shares would be distributed to the shareholders of solg). Several months have passed and it seems that my understanding was not correct because what the company said had nothing to do with what I thought. Caldwell first of all indicates that there is no fixed time limit for carrying out this strategic review which is strange, then he speaks not only of the interest of shareholders but also of stakeholders which is even stranger. Finally, he does not clearly say that Cascabel/Porvenir are for sale, he even wonders if solg should not participate in the construction of the project directly or through a JV! This is extremely dangerous and in this case the drop in price is not surprising. Another equally negative explanation which would explain Caldwell's change in language is that during the strategic review no company was interested in taking over Solg under the conditions planned by management....So, IMO nothing will change till the management bring CLARITY about their real intentions!"
Eloro, you know my thoughts on CGP and those apparent 100m shares in kitty to issue when they like and to whom they like. Too much of a nice profit maker there for them to not issue them imho.
According to Ship... Bob thinks the sp is being manipulated. Mmm!
My view on that would be ... well Bob... surely you would know what the amrket would do to the sp when you decided to kick the can into Q1 24??? So perhaps it's your own doing that has manipulated the share price lower as someone familar with markets and trends would know that a signalled.... 6 months of diddly squat would result in a pretty poor share price.
Anyway... I guess it all fits with the CGP boys clear plan to 'realign' shareholders expectations to help them secure a low ball deal and exit no matter how poor the price.
As far as I'm concerned, the asset is the same if not better than it was when we were last at 42p+. And whilst we have more shares in issue, we also have 100% ENSA as opposed to 85%.
So unless any offer starts higher than that.... forget it.
I think that's been covered a few thousand times subby77
No conclusions were drawn.
Hi guys, can anybody help me with some info please? Any particular reason why the SP has dropped so much, I thought we had a tier one asset? Why doesn’t BHP or another buy the damn thing? Thanks in advance
Has anyone been able to find out what his record was like at kinross where he was ceo?
Agreed Fort.
I thought the Canadians wanted to sell and move on? Now I understand Warren's frustration in that the lack of a bid isn't matching the predictions regarding copper. I fear that there will be raise before a bid at this rate.
Also, Scott and co must surely be out of the 'closed period' now results issued, so no excuse then Scott for buying in open market at these bargain prices unless of course you can't still do that because you are in talks with potential buyers??
Like I have been saying, Scott is not impressing me. He has said nothing to support the share price. Banging about being a shareholder hasn't cut the ice with the market. Talking about 2025, bringing up old problems with BHP, isn't instilling confidence. He needs to get on the phone to the Saudis instead of waiting to be approached like he is a pretty girl at a dance. Time for him to demonstrate leadership and stop talking about rocks.
Medi111 - they'll give themselves loads of options at a silly low price as this drifts lower and yes, 20p will make them loads of profit as a result - so basically we have no news flow for 2 more quarters before they kick those deadlines down the road as they've would have achieved nothing new in that time - the incompetence of Cornerstone sold Cascabel to Solg for a song many years ago and the incompetent Cornerstone mgmt in charge now will now sell Cascabel again for a song again
Medi111 there is only one real way to look beyond the current sp based on very low volume - if anyone knows a big time city trader or hedge fund manager who could try buying, say, 25 million Solg shares and see what actual price is quotef by the market.
Until then we are in a state of utter capitulation by many small retail shareholders who have been worn down by the deramping from various fake accounts - many slugs, many set up by other losers - and have finally given up hope. I know of no institutional investors selling at this low level - this is simply many small holders giving up (the trades are tiny).
Although another factor seems to be that a sale is nowhere on the horizon, the silver lining to this particular cloud is that Solg is now "valued" at £360,000,000 which must look very very cheap indeed considering we were double that in the past.
Certainly a lot of chickens have come home to roost from all the bad management down the years - "paddle our own canoe" and other nonsense has cost us dearly - but the fact is we probably look like a real strategic bargain now.
There may be nothing stopping us from falling right down to 1p, but the further down we go, the more of a bargain we probably look to somebody. The shrieking of pain from some retail investors on here and other boards is a good reminder that we are not all cut out for share dealing or investment. Sometimes you got to roll with the punches. As soon as the market sense the bottom has been reached, I reckon we will bounce back nicely.
Low volumes so no sign of the big boys moving out, just looks like some leverage traders and players getting zapped by the margin calls.
That said, if SOLG sp is sub 12p going into that AGM (or even sub 15p TBH) then Scott and co must be toast. They had their chance and they have failed to deliver any coherent message to the market for 12 months. The market punishes you when it thinks you've got nothing to say. An ironic situation which ultimately results in a call the markets bluff... and as yet... Scott or Bob have yet to deliver anything.
For some reason I just get the feeling that the lower sp and poorly communicated management message (plus poor market backdrop) might just see a low ball offer given. Lets face it... predators strike when they see weakness.
Tick tock Scott.. but looking like the market is giving you and Bob's bat the firm middle finger. Over to you then to prove them wrong.
We have touched the 11ps here. There is no reason to believe this will stop at such levels if nothing is happening. So are we a distressed company with nothing happening to steady the ship.
While it could be accepted that management cant comment on daily variations of the SP, it would make a lot of sense that they comment on the trend and value creation potential/possible/sure events.
On the surface of things, they dont care since the new boys are happy with whatever outcome even a 20 p TO. Sad.