Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
That’s what Solgold is worth and nobody is interested. There must have been some serious examination by various big players and none have stepped in. Having bought cheap and then topped up at many seemingly “too good to miss” points the share price is heading towards my average, something I would never thought possible even at 20p. But though I hope I’m wrong, I’m beginning to think.
SOLGOLD IS A DUD!!!!!
SOLGOLD are not a dud. The assets are world class. The problem is they are in the hands of an inept management team. It's not unexpected as these guys are not Tier1 asset calibre professionals. They are minnows. They basically know zilch about how to manage a Tier1 asset.
Current slump speed on sp is roughy 1.5p per month. So no news until feb or March means around 4p a share is the predicted level of £120m market cap. At this point, the auditors will be asking Scott (if he's still around) whether the business has 6 months cash left to meet all requirements. The auditors cannot sign off the accounts unless Scott can deliver a solid answer. And as well know, right now he has no answers.
The only news expected in Q1 is a watered own PFS which lets face it, it's not exactly going to blow the doors off... but it might move the IRR up a notch. But that's minor stuff and not going to move sp much at all.
The market has no interest in a company that apparently is an explorer but is not exploring and does not have any cash to explore as well as a company that is not a developer but has a Tier1 world class asset that it is trying to water down.
Based on what I have seen so far, I wish we'd just left the CGP guys to rot with their 15% ENSA that they couldn't sell or finance. They've had a free ride on the £200m spent thus far on ENSA yet for some reason are back where they began holding more stock. It's a joke on shareholders. A seriously poor one at that.
Fort the problem isn’t the current management team, the problems go back years and they take time to put right. In retrospect getting the likes of BHP and NCM on board was probably a mistake. Much as they can add credibility they can also act as a deterrent to others, now they’ve been diluted maybe not so much. As you say the asset is phenomenal and value will out here in the end.
Fort, the interesting thing is you make all sorts of accusations about how inept SC is without actually knowing what's going on.
We have no idea of what's emerging from the SR, nor do we know where we stand with the IPA. In an ideal world we'd have been given an update, but as far as the SR is concerned, we are bound by confidentiality agreements and market regulations.
Yes, we'd all have wished for a quicker solution, but the delay is, to my mind, understandable. SC inherited a total mess and he's having to sort it out.
If, by the end of Q1 we haven't had evidence of some progress, I'll probably join you. But. as it stands, I'm prepared to support Caldwell as he attempts to deliver on his promises.
At the time of the merger, BHP&NC held large positions and we know that the voted against Scott. Hence, I am curious how we ended up with the Cornerstone crew running the show? I don't recall being asked to vote.
Eloro, rather SC than DC. If he'd still been at the helm I rather suspect you'd be shouting even louder. All his production nonsense was total balls.
Add ….. Nick, Bob & WI all think Scott is doing a good job.
These guys stand to lose way more than all of us put together so if they’re happy to put their faith and their millions behind him so am I .
DBW, yep. This fact seems to elude some of our bears.
It seems I’m the only person down on this one, everyone else says it’s getting pretty close to their average. Silly me.
Cov…. I’m down, still have faith, still buying but down … I stand to lose a tidy sum but still think the upside outweighs the risk…..
About 70% down myself overall, including a small top up recently around 10p. Won’t be putting any more in.
I am with Rich3r. My average is just below 20p. Not adding anymore after I added some at 10.5p.
Dropping like a rock chip this morning.
Cov,you are not silly and definitely not the only one down here......
I have been long long time and my initial stock bought in the lower penny's long time sold 🙃.....of course newer batches bought and sold during this long journey however, my latest average of circa 12p is as you can see is pretty much under......with the longer term in mind and still much faith I am continuing to buy when I can in the current slump.
Hopefully this will earned at least the same rewards as my previous purchases....eventually.
Good luck 👍
Rich, I keep thinking the same, but the .It's it fall, the more it's irresistable. I'll definite be buying a chunk more when I think it's close to stopping the fall, which happening as I and no doubt many others predicted.
Unfortunately, I don't think this is anywhere near the bottom yet.
A top up around 5p would give me a load more shares at minimal cost.
It all depends if you can see light at the end of what could be a very long tunnel. Or not.
Jezzoo it’s a leap of faith now ….. but these guys get things done and stand to lose a packet
When this turns it’ll happen quickly and there could be any number of catalysts…. PFS ( which I believe will happen Q1)
Revised IPA or confirmation of someone increasing their position ….. who knows 🤷♂️.
The geopolitical risk will always remain
Solg has been dreadful to investors the last couple of years - will be all over this like a rash if it goes into the 6p range for what will eventually be an easy bagger or 2 early doors 2024.
Just my opinion.
GLA
The question is, what do XIB 'know' that caused them to open their short and keep pushing down at these levels?
A dangerous game to keep open at 7.5p given the SR and potential upside.
What a ridiculous year.
NMM
Interesting comment from Bob re. XIB
“I don’t know anything about XIB. If they have a short it must be small given most penny stocks are not short eligible in Canada”
Hi DBW
I find that comment from Bob VERY odd:
- he'll know volumes are low and hence even a 0.5% short could easily be used to drive price down
- it would frankly take him 30secs to check the UK-listed shorts, given London is primary listing
His comment may explain why a Canadian company put the short on the UK listing...
... but to say "I don't know anything about..." - I'd flipping hope Maxit know that XIB are shorting SOLG!
Someone best tell bob that XIB are just a few doors down from him lol!
I think there's a few out there that are beginning to think there might be a link between XIB and Maxit. So for Bob to say he knows nothing about it or them just about confirms it for me lol as of course he'd know about them.
Oh dear... this pantomine really is a festive special. Ho ho ho.
Hi knew about Berry Street though?
Someone call the fuzz and tell them we've been robbed... we got mugged for $4.5m last year and this year we've been cleaned out for $70m!!!!!
Fort you and a couple of others have stated recently we won’t see PFS in Q1
You “There is no chance of a PFS update in q1... that's just a ruse”
Orthern “It will absolutely be kicked down the road to q2 even q3 with no clear explanation or rationale”
And Kapil today “there is zero chance of him producing a PFS in Q1 CY 2024”
Seems like a negative and wildly misplaced agenda to me.
I’m confident they will deliver in Q1 but not arrogant enough to state it as fact.
We’ll see
DBW - PFS is a secondary milestone.
Revised IPA is due first. How many times have the company said this is anticipated during 2023; a 'good chance' this would land before Lasso left I think Scott messaged to you (or another PI).
We're still waiting.
I know SharketMare flags this, but this is key to reassure the market, and potential partners/buyers, we have a fully supportive Govt that want Cascabel built. (And built fast, not just drifting on further studies and phased approaches).