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buy, buy,buy guys !!! I am and will be at these levels, lets see if I can get to that magic 6 figure stockholding ;))
Bubble they got our votes back in Dec, now they'll just bank their salary chqs for a further 12 months until they need us again
Solg's mc never stays below ggp's mc for very long.
GLA
No more cash to invest now. Just over 700k at 24.7 average. Fingers crossed and hope for imminent good news. GLA
4 x 5k buys.
Are me
Never in a million years would I have thought this would hit 14.50 management need to be putting something out its been months now with no news or direction
a 20% drop in a month... when nothing happened, is bad even for Solgold.... I mean we drop... we always drop on no news.. but a 20% drop from an already incredibly low price on no news......... our board deserve all their salaries, expenses and options..... first class operators
Extreme negativity, blood on the streets and all that. I know it's not a big buy, but thanks for the 26,500 at 14.46 just now.
Geez your a twat
Monte...thats implying they bought it as an investment...
Its a springboard...
Dave...we don't need negative talk like that...
We have $80 million in the bank, plus CGP's 137 million SOLG shares in Treasury once the merger completes...
Even at today's woeful price thats a total of $105 million...enough to take us to DFS, Finance and start of construction (which we won't beundertaking anyhow...)
IMO those who are talking about a takeout at 40p, 30p, I even saw 25p today, lets get a perspective...
Noront Resources was a Junior Miner with one main prospect at Eagles Nest, whose Market Cap in May 2021 before the bidding started was $128 million. At the final bid it was $612 million...
Even at its worst today, SOLG's MCap is $450m...and it has at least one Tier 1 Mine ready to start construction at 15 months notice...FNV valued the gross metal output at $10 billion and Osisko at c $8.4 billion, just from Cascabel...
NCM has risen from a MCap of £8 billion to c£13 billion since last September.
Even if SOLG was fairly valued last April at c£1 billion, its still a fraction of Newcrest's probable takeout value.
BHP's buyout of OZ Minerals is £5.5 billion
So Personally I don't think a starting bid of 50p (£1.2 billion) is unreasonable for SOLG, with an exit up to £2.5 billion.
Its easy to think that markets fairly value a company but...
We don't have a cash problem for at least the rest of 2023, but markets hate uncertainty. With most people fully loaded, weak or panicky holders and shorters are easily pushing down the SP on below average volumes since mid December, waiting, waiting, waiting for the merger to be completed.
After the slimmed down PFS 1.5 in April 2022 we hit 40p. Since then we've looked like a basket case, but we still have the same assets in the ground and by next week we will own 100% of Cascabel...
So although its absolutely legit to air ones worst fears on here, our views on the likely starting bid and final takeout should be influenced by last April's price not today's.
After all, None of Blackrock, Norge, DGR, Tenstar, NCM or BHP are selling and Jiangxi have only just bought.
Yes its painful, but if you have to sell you're already overcommitted.
The question is whether or when the SP reaches capitulation...
At the start of COVID the SP hit 10p...7 months later it was 44p...
Patience...
Market reacting as a placing is being lined up
I hope you're right.
Monte - yes agree to some extent but when you throw in Lasso and recent Chinese Trade deal.... I think it has more importance than your usual speculative small cap punts.
They are involved heavily in Ecuador right now.
Ita not much comfort that the Chinese and institution's have bought shares here.
With small caps they get it wrong just as often as retail.
They bought at 32p and more recently at 16p levels through placings. Why wouldn't they mop up some stock in the 14's?? Unless of course their hands are tied due to insider knowledge?
The share price is now in a zone whereby some on sidelines might start to get their tackle oot. If you're not a buyer at 14's then I guess you'll never be a buyer.
It really is diabolical that the company does not make some form of statement to explain the situation or update.
Tantalum
It’s a guessing game how low it can go here, without news the price drifts ….. people get nervous….. some sell ….. almost a self fulfilling prophecy.
You’d have thought Solgold would have worked that out by now
Market re-rate in process it appears
I'm not the one trying to spread their ideas here, slug. This is the Solg board. It isn't my job to teach you basic scientific research skills, and it isn't your responsibility to stop me or anyone else being a 'sheeple'. Please stop spamming this board with insane, easily disprovable conspiracy theories about climate, vaccines etc
Thanks to those who responded to my friend's view of pre-packed administration. I am glad that there was no acceptance of his view but remain worried about the direction of the price. Shall I catch the falling knife or stick is now the big question for me,
I wouldn't be bothered about insiders, but I am surprised that the likes of Norges, Blackrock et al have not been buying into recent dips. They know that dilution events have passed. They know the likely intended SR outcome. So why would Norges buy close to 3%+ at averages near 30p and then sit on their hands when price has halved?
Mind boggles. The ARB boys are having a free run at this and not being met with much resistance.
Minor volumes in grand scheme of things but the drip drip will concern some CGP holders as they are soon to swap CGP shares for SOLG and liquidity doesn't look great here across the pond with buyers absent.
Think SOLG will need to issue an update on the SR before issuing those 550m shares. They need 'new' holders to be holders and not sellers. Perhaps the reason for the slight delays??
Some CGP holders will be seller regardless of what SOLG says as they have been waiting for a liquidity event which has not been possible on CGP TSX.
I just keep buying as and when I can without putting a strain on things, little and often, £1000 about 4mins ago
Tier 1 and this price it’s ridiculous, more bloody patience needed but God it’s trying
Atb
Wrong board again, Slug. Keep it to Solgold. And stop embarrassing yourself with easily disprovable conspiracy theories. I don't know why you have a chip on your shoulder about scientists, maybe you're jealous of their intelligence, but they are not out to get you. Calm down a bit