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Very poor from NCM and BHP. Both should have issued TR1's after falling through 13% level.
No excuse for the delay.
A question for someone who understands these things better than me … Is it possible that BHP and/or NCM could have been the ones buying shares quietly as nervous PIs and Blackrock have been off-loading? And so no TR1s? This would make the AGM vote tighter and has been playing on my mind.
I think we all have our suspicions but in all honesty no one here knows who’s selling or why and who is soaking up the stock.
MrTud,well know next week imho
More likely the big boys are selling down because they're P'd off about not getting their own way, I'd have thought.
Whoever's doing the selling, I'll be mopping a few of them up.
The consensus for a fair while has been that anything under 25p is cheap and I think it still applies.
Sentiment on here seems to be lower than whale poo.
Hence I keep reminding myself that that's the best time to buy.
Good afternoon MrTud .
BlackRock are not selling, their Clients are selling funds that contain Solgold as part of the mix.
Unlikely that BHP or NCM buying on the open market otherwise price would be a lot higher.
Although we have had some volume over the past days, this is nothing unusual as we should be having this kind of volume everyday, day in and day out.
Thanks for the replies. Fingers crossed!
Quady - that is not how it works. You have had this explained numerous times.
BlackRock are selling down from their various funds, for whatever reason. It's as simple as that.
Bozi …. I suspect you’re wasting your breath
Welcome back slug!!! Great to see you’re still mischievously agitating events here at the weekend.
My prediction for end of trade on 23/12 is 7p to 8p going into Xmas and new year week. Going to be squeaky bun time for a lot of us here but will come good on 3 to 5 years
DBW - one thing I'll say for Quady is that I don't know if BlackRock are experiencing a major run on their funds. They could be for all I know, and if they were then such an event may require excess liquidity.
But what are the chances even in the current environment? <1%?
Novice - do you fancy explaining your statement?
After years of "55p by Friday" you're now opting for 55% value destruction in a week?
I do hope you know that if events transpire to produce that performance then there's little to zero chance of this "coming good on a 3-5 year view" If we see single figures before Christmas it's because the SOLG shareholders have voted like turkeys again and January 23 will be the start of a brand new hell for us all.
Be careful what you wish for.
Correct Bozi the BlackRock funds are being sold, it's not BlackRock selling shares.
That's what I have constantly said.
So reasons for selling Solgold shares could be.
1=) The fund no longer has Solgold as part of it's mix.
2=) Client's are swapping funds and switching out of a fund that contains Solgold into one that doesn't.
3=) Clients are exiting funds that contain Solgold and taking the money.
The one thing that is not happening is BlackRock are selling Solgold shares to walk the price down.
Because that is not the business they are in.
Quady - please desist. You have no idea what you are talking about. BlackRock's cumulative holding of SOLG is reducing and quite steadily. That is because their individual funds are selling SOLG stock, the effect of which is being felt on our SP.
Where is your proof that BlackRock clients are redeeming their fund holdings in sufficient weight that the fund then is forced to sell SOLG stock to meet liquidity demand?
If a fund no longer has SOLG in it, it's because that fund manager has sold their SOLG shares. How is that possible if "BlackRock are not selling SOLG shares."
I agree that BlackRock are likely not selling SolGold stock to "walk the price down" but they are certainly selling SOLG stock and the price is certainly be walked down, so any discussion on what their motives might be is rather moot.
Bozi you are saying exactly what I am saying and then disagreeing with yourself.
The three scenario's I have put forward is how fund management and ETF's function.
You are correct I don't know which one it is.
But what I do know it's one or more of them.
20 million shares traded on Friday....looks like there could be significant trading next week too
Quady, you said,
"Correct Bozi the BlackRock funds are being sold, it's not BlackRock selling shares."
That's wrong. It is BlackRock fund managers selling SOLG shares.
Quady, you said
"So reasons for selling Solgold shares could be.
1=) The fund no longer has Solgold as part of it's mix."
That isn't a reason. That's causation.
BlackRock isn't just ETFs. They have a huge fund management business with offerings they manage actively. ETFs are there to track markets, commodity baskets, benchmarks, etc.
I'm really seeing some holes in your understanding around this.
Well bozi after years of perpetual obsessive optimism and constant posts of “after this event we will start to move” etc etc and we know there have been many false dawns as far back as “ when we go live on tsx we will fly” well I don’t see anything at all coming from this agm vote regardless of the outcome unfortunately this stock is on a race to the bottom for the greedy hands BHP et al, hence my prediction for new year of a single digit price.
Have a great weekend and let’s hope it doesn’t drop to far by Xmas :/
Good grief Bozi what's wrong read what I said.
1=) The fund no longer has Solgold as part of the mix is correct. I don't care how you define it.
Also I never said that BlackRock had only ETF's, read my post at 14.23 and 14.48
I mention Funds as well I just kept it generic for simplicity.
Novice is this reverse psychology of a sort …. Every time you talk it up it drops so let’s trying the other way and see if it works?
Q the only way Blackrock hold (30m & counting) less shares than they did is because they have sold those shares …. They don’t simply give them away and no one would be selling them without their say so, stop being so obtuse
DBW that is exactly what I have said, all I did was expand on why.
Bozi is one of the good posters on here, even though we disagree on the final outcome.
But Bozi has said exactly what I have said.
All I did was put it in simple terms.
Quady
This is exactly what you said
“it's not BlackRock selling shares”
Bozi did not agree with you ….. what is wrong with you?
Thanks for saying that DBW.
I'm actually in shock at Quady's 'attempted pivot' here, particularly given what he is on record saying and what is happening. Staggering.
What are you on about DBW BlackRock is not selling Solgold shares.
It's the funds that contain Solgold shares that are been altered or moved or sold.
BlackRock does not hold Solgold shares in their own right and manipulate the market as some have suggested.
I really don't think I could have put it any clearer.