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Sounds like a few funds in the UK have shut down and liquidating all their positions (including SolGold).
This is the risk of owning an illiquid investment - share price can move a lot based on limited trading.
I’m not losing any sleep - I’ve been doing this for over 23 years.
Takes a strong stomach to invest in exploration companies and the volatility is just part of the game.
SolGold is in the best shape it has ever been, despite the poor share price, so once the stock has been spit out, I expect we’ll see a gradual recovery.
Start of the massive crash they’ve deliberately caused then?
Another credit crunch looks nailed on
If funds are shutting down and liquidating.... then where are all the other stocks that they own? Why are they not getting hammered? Don't tell me SOLG is the only poor liquid stock they invested in?
It might be Berry Street but lets face it... SOLG have the daily register so can see who is selling.
What Bob should be saying is.... we've been working hard to find buyers for the stock including our chinese mates and they are mopping them up now. Ermmm Bob... you should have been doing that at 15p not 8p.
Shanta Gold took a similar hammering when Odey had to exit but Shanta found buyers for Odey's stock whereas it seems like Bob can't even do that.
Might be time for Bob to hang up the bat and for SOLG shareholders to seek new advisors and directors at the upcoming AGM.
So Mr Drake , lets change the BOD at the next AGM? Where will that get us? There new BOD need to settle , get the "rewards" credited , andd then go down the same path as this BOB , albeit 16 months behind the curve. Wise up , it will only be happening if the big players want it. Us pi's are just cannon fodder ,m your vote means jacksh@ty in the grande scheme of things here. Mmmm...
Fort, for the nth time, the large trades have all been off-book. In other words there is a buyer. Apart from the x2m trades today the rest have been away from London, which may suggest they weren't Berry.
Add there is a buyer for every seller regardless of whether it’s matched on or off book.
I’ll be loading up in the morning if it stays in the Low eights. This is a wonderful opportunity
Everyone loading up eh? Heard it all before , it's never proven.
1984, indeed, but an off-book deal is different and is between two parties and is not done via a mm. The recent deals are interesting but are small in the context of our shares in issue.
I recall Berry Street had around 1.3% or 40m shares I think around July 2023. I don't think they'll have many left now assuming they were selling a few in September.
Likely they'll be going for end of month zero balance. If their clients knew how heavy handed they are being I doubt they'd be too impressed.
They could have got 25% more value back to them if they had been a bit better with managing their exit.
What a loser Kilic is.
What a loser Kilic is? I would imagine he's sitting in more comfort than all off us tonight.
On book the buyer is the market maker. It's not market demand. Big difference.
Addick sorry but you’re wrong. Off book simply means that the transaction wasn’t settled by SETS whereby a match was made on the buy and sell side.
Off book means (more likely than not) that an intermediary such as an MM brokered the trade for a margin
Bozi no that’s wrong. Market markers do participate on SETS but people with DMA do too. AT is simply when two orders match electronically on SETS, OB is otherwise
And I have all mod cons thank you, an air fryer, an oven, next doors wife to iron my shirts and a little man from overseas who rakes smooth the gravel in my drive when I’ve driven away
1984 - I wasn't really referring to those with DMA but I take your point.
I was talking about the many (not the few) who deal through bog standard brokers and platforms.
Bozi, consistently 70%+ is AT meaning 30%- is off book
Even today when we had 8m off book trades in just four 2m transactions, AT was 33% and 4.2m
Ship, thank you as usual for taking the queations to management instead of the BB. Great that Scott always stays emgaged with us and shows composure.
1984, have a look at the definition of an off-book transaction.
There are many sources, but this one from IG is useful: 'An off-book transaction refers to the process of trading shares away from an exchange or regulated body. Off-book transactions are made directly between two parties, outside or 'off' the order book.
Once a price has been agreed between the two parties, it is typical for one of the participants to report the trade and its parameters - and wider market - in order to bring the execution 'on market'.