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We seem to building a base around 16-17p. And you know what they say...
'The bigger the base, the further in space!'
Waiting patiently. C
Last month or so we've seen decent volume with main II action being filled by mm's at around 16.8p/17p levels. These levels virtually identical to the pricing on the Chinese equity placement last year but also not far from CGP post merger value.
Blackrock UK fund look like they have fully sold out. However, Blackrocks other funds (non UK based) have started to buy stock based on Morningstar data. Fidelity appear to be the main sellers at present/providers of stock to the mm's.
I think the pricing being aligned with the chinese equity placing is uncanny and might suggest the Chinese are happily to add at these levels. And why not? They took a decent wedge at same level not long ago.
I get the distinct feeling that the mm's seem very happy and content with the 16.8p/17p level. The drops to the mid 15' or low 16's seems for pi's only lol!
@Bozi, waves are a very well known but yet vastly misunderstood and largely underestimated topic. Understanding the Y axis is only half of the trading challenge, the x axis being equally difficult to manage. Do some reading, it's fascinating stuff, and it applies to all kinds of natural, social and economic phenomena.
TheItalian
You are aware that past performance should not be used as a guide to future return?
Pretty much the oldest investor adage out there.
If it comforts you though...
Did the elliot wave tell you about mather being sacked. Dit it tell you about lasso impeachment., did it tell you about early election, did it tell you about ukraine war, did it tell you about indigenous uprising. NO. ITS MUMBO JUMBO
I would rather find comfort in number crunching than BB gibberishing.....
So, running close prices starting from 10 Feb 2006 (earliest data from Yahoo Finance), using the Excel Data Analysis pack, I ran the Histogram function.
The data returns relevant waves of 37.88 days. 26.14 days, 20.66 days, 8.14 days, 4.23 days.
This corresponds, in calendar days, to 53.03, 36.6, 28.92, 11.4, 5.92.
If I take the longest wave (53.03 calendar days) and I plot multiple intervals of 53.03 days, like 53.03*2 or *3 or *n, I get a number of theoretical harmonics that should correspond to actual recorded price movements, within an acceptable interval.
As it turns out, I could get 24 such peaks matching the theoretical dates, within around 1% tolerance.
The four major peaks we have seen in the last meaningful years (April 2017, October 2018, October 2020, April 2022), all fall in the pattern, and the long term implication is that the peaks are distanced at either 1.50/1.54 or 1.99 years from one another.
Soooo, if there is a rhythm hidden in the SOLG price oscillations, there are two upcoming dates that might result in a relevant peak, either 1.50/1.54 or 1.99 years from the last one.
That would be 12/10/2023 (=1.50) to 26/10/2023 (1.54), or 7/4/2024 (=1.99).
If I had to fantasize in Elliott terms, I would go as far as guessing that October 2023 might be a W3 peak, and April 2024 a W5 peak. Who knows though, just trying to rationalize this madness......
GLA
Two candidates named Guayaquil Guayas, what are the chances of that ?
Is that the Equadorian equivalent of John Smith ?
Three candidates declared so far.
Guayaquil Guayas, he was the vice president between 2018-2020.
Another person also called Guayaquil Guayas, he is currently serving on the national assembly.
And lastly Alausi Chimborazo, who is also a current member of the national assembly.
Mather has done this every/most years for as long as I can remember…. Nothing to see here..
Less than 0.02% of shares in issue. Downward pressure, sure, but doesn't explain drop to current lows. Think it is more than just NM and BR selling in recent months. Red alone tells us he has sold at least 20x this many shares most weeks!!!
Its no wonder the SP has been on a downward trend recently with Mather selling a huge wedge for Charitable purposes ?
I look forward to the mea culpa.
DG ….. I shouldn’t bother …. It’s no secret that you and a few others have chatted with Solg ….. thanks for sharing
Eish, are you invested in a giant tier 1 asset, or solg? I won't insult your intelligence by pointing out the difference.
If only we could invest directly in the minerals in the ground, then it wouldn't matter about the corporate or political position surrounding the company!
I dont need attention Needalife - I'd be happy for you to reach out directly to me and can find a way to provide you with my email or telephone number (Im active on Twitter and also Telegram)- I'd be happy to talk you through my call with Scott. Or indeed if you want to go directly and ask for confirmation that the call/zoom took place feel free to email Christina - who set the call up and also joined the zoom - I'm sure she'd have no problem confirming that the event took place.
Not looking for an argument with you - just looking for a way for you to validate your own opinion that my call was somehow constructed in my mind......for what benefit I have no idea.
If you choose not to do any of the above - Ill assume your angle here is merely to disrupt - its a genuine olive branch
I have not sold out of this share, and never stated I have.
I reduced my holding here on the day the PFS was released. With the benefit of hindsight, I should have sold the lot, but I remain a holder here, but will exit if we ever see 30p again.
This is simply a bottom of the drawer play now.
Well written and I enjoy your positive point of view on what we have invested in, a Gigantic Tier ONE! A rare finding which will find a buyer at a good price, for sure!
Needalife - DG1 has been posting on these boards for many years. He is active on other platforms under his real name and as such is highly credible. Unlike some, he doesn't feel the need to hide behind a veil of anonymity and spend their retirement trolling a BB of "sad sad desperate people". Makes you wonder who really is the sad act on here?
Dm. Your hoping for an update confirming solg is up for sale. You must be the only person on this planet who needs an update to confirm what blind freddy has known for several years.
You say you've been away, and don't know what's going on. Unbloody believable, the sh,, te posted on here
If you're trying to read in to comments about the data room, remember they didn't come from Scott. They came from an anonymous poster on a BB. Extreme caution required.
Fort describing Cascabel as 'Stunning' sums up his repetitive ramping perfectly - note how he ends encouraging people to 'ignore the noise'. I think it's the deathly silence RE: any of his predictions that he should really hope we ignore.
DM, I would recommend reading the "My chat with Scott today" thread where DG1 kindly shared insights from a call he had with Caldwell. The strategic review is "open ended" but open to change - there is no end date. Discussions with interested parties in the data room have slowed down due to political unrest.
You'll have to go right back to the start for the useful info as the thread was hijacked by the resident trolls.
DM, good to see you posting.
I share your view, although not the bit about using the cash for regionals - shareholders need a return. SC has told us various parties have been given access to the data room. Surely he wasn't lying?
Fort, I stand by SOLG not publishing anything material until late Q3/early Q4, and I'm sure you'll be one of the first to pull me up on that should we hear anything that causes a substantial re-rate sooner. I'm not quite in the same camp as orthern in terms of outlook on the company as a whole - I'm still giving management a bit more slack as they've been setback by things outside of their control. Though the absence of a real plan B is a concern.
The reality is, SOLG doing very, very little to drive shareholder value at the moment, and that's why over the short term I'm looking at options elsewhere.
Fort - I'm not going to mention my other holdings here but Needless to say, both companies have huge upside potential over the next 12 months. Much more upside potential than SolGold. That's the aim of the game isn't it?
How has SolGold progressed Alpala in the last 12 months? PFS was last May. Gandy drilling stopped months ago and won't be resuming.
The stunning project has you put it, has virtually been mothballed whilst efforts turn to trying to flog it. Stunning indeed. Stunningly stunning.
Let me know when you're ready to talk about that post tax IRR of 19% whilst our management is going doing royalty deals with every Tom, Dick and Harry. Stunning.
Not to mention that exploration cost per lb which is climbing beyond recognition given that the company is frittering away $80m on sacking people, moving executives, closing offices and generally shutting up shop. But no bother like Osisko and FNV know they get sorted ahead of us.
Meanwhile, gold price is struggling to break out despite worldwide financial turmoil. Copper prices are sagging as an indicator that global recession is coming.
Super time to be invested in even a company like SOLG with two quality assets and a regional pipeline that would make majors weep.
Bozi, indeed, which explains why I would like to see some clarification.
We've had many repetitions of the fact an SR is in progress, and has been for nearly a year. The scope of the study was as wide-ranging as it could be i.e everything was on the table and it seems inconceivable that nothing will emerge. Are the company really saying "steady as she goes"? That would be bonkers and I don't believe it.