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We were around 20p 6 months ago..
Share price needs to triple from here just to get back to the 20p levels, a level many would say still undervalues Solg.
I cant imagine any signed Investment protection agreement gets us any where close to that.. As far as I can see, the only thing that is going to get the share price back to anywhere near 20p now, would be a sale or JV....
The CGP team have been a colossal failure here since they took over.. but will absolutely have the brass neck to claim a huge success, if they can ever get any signed deal over the line that is circa 20p, as they will boast about tripling the share price.... bonus all around boys!!
and Red is still spitting out his £1 plus valuations.. pathetic
Othern indeed a long uphill. I am deep under water at the moment. What keeps me here is that the price per pound of copper in M&A deals should value Solgold at much higher levels. Debatable what a good price per pound is, but there are some statistics out there. Funny enough one of those has the Solgold purchase of Cornerstone at $0.03/lb. Which was the lowest in that table.
https://www.spglobal.com/marketintelligence/en/news-insights/research/copper-ma-2022-metrics-peak-on-green-energy-push
I think we are all asking ourselves where the bottom is. The director buying put a floor under the price for about 24 hours. The market is extremely bleak for explorers at the moment and we're going to have to raise funds in the next 6 months or so (assuming we have the foresight to not leave it until the very last minute).
Despite what some say on here, volume since the end of September has been much higher than the 3 month period preceding it. Who is offloading the stock?
The increase in volume is an interesting one.. but its only a small increase in the grand scheme of a share with 3 billion shares.. my guess is a midsized investment outfit, that never came close to a obligatory notification, throwing the towel in.
The director purchases where very small fry..
The purchase by Stackhouse was laughable.. almost like he was instructed/encouraged to buy some by board members, with the sole aim of helping sentiment, but he couldn't bring himself to actually invest any decent wedge... With him knowing what he knows behind the scenes...... Reading between the lines, (which is all we can do these days), that was hugely telling to me, and quite a concern with the state of play behind the scenes... Our board are trying to monetise this asset ASAP, and he couldn't bring himself to invest more than a few grand on the outcome....
Orthern, could it be that Stackhouse may not actually have much spare cash? He's still a youngish man and, like many people of that age, has not had a chance to accumulate capital. Personally, I think your conclusion is very wide of the mark.
He is the CFO of a listed company... he may be young, but he is no peasant.. To me it showed a lack of genuine belief in any financially positive outcome in the current circumstances.... and he has full knowledge of what, if anything, is taking place.
And to me it doesn't. No matter how small the amount he invested, do you honestly believe that either he or the others would be prepared to chuck away cash? Sorry, but I'm not buying it.
Adikt, why is everyone's conclusion that differs from yours wide of the mark.
The more the sp drops, coincides with a your desperation to stifle any and all who don't toe your ridiculous, everything is rosey narrative.
There must surely come a point when even diehards like you realise the games up
What will happen to the SP when XIB close their short of 155 million shares...?
Whoever our seller is, they really are going for price destruction. This looks hostile to me. That's 2.5m sold at 8.55 when in more careful hands could have been sold at 10p+
Maybe he could not invest more- try to not read between the lines- doing so never works.
The fund raising that will be required in the near future is becoming a real concern at these levels...
I never thought id say this, but the best option may be to try to do an additional royalty deal. Which is a problem, as any extra royalty deal just makes the asset less profitable to any suitor, so more difficult to monetise... catch 22..
Any major mining company I imagine, is now just waiting Solg out... watching it collapse on its own mismanagement, before it picks it up from the Ecuador government who demand progress..
About the price per lb in case of M&A, if only we obtained an average 0.08 / 0.09, we would be in the 70p thereabouts.
At at the 0.03 we paid for Cornerstone we would be worth 25p, general sentiment and some corporate progress allowing.
Orpherncopper,
What fund raising is required in the 'near future'?
According to Scott and BoD's, SOLG have enough cash through to June 24.
That's not 'near future' so on that basis, I'd say your fears are justified.. but at pesent is is NOT a 'real concern'.
Alot can happen in the next 1 to 9 months that material change the course of SOLG's financial demands.
But come March 24... if nothing has happened and share price is still in the sub 10's, then yes... forward thought on funding ahead of June 30th would become a concern.
We have a seller at the moment and they are selling at whatever price they can get by looks of it. Heavy handed stuff and possibly a fund or player out there with liquidity issues. Shanta Gold had a similar issue when they had Odey / Brook as a forced seller due to Crispen's personal issues.
What is odd is why Maxit haven't found a buyer for this loose stock as mm's don't look like they are that confident holding stock in SOLG at the moment. XIB still haven't closed their short either and you'd think now is the best time for them.
I understand that Fort... but focus will have to move to fund raising before June... or we end up in another scenario that Darryl put us in.. down to the wire and desperate for funding..
It would be poor, very poor management indeed, if our board had its head in the sand and hoped the funding would just appear.. It needs to be in place well before June. So we only really have a matter of months.... and that will pass before we know it.
So again.. I would really like someone from Solgold to point to what they have to show after burning through the 50 million Osisko funding? Where did it go? what did that funding achieve.. Every one of them needs firing.
I've got dry powder for whe XIB f00k 0ff as for me that's the bottom. Surely they're need to sell the treasury shares before they raise?
"XIB still haven't closed their short either and you'd think now is the best time for them."
Seriously? If I was them I'd be adding to it. It can't have escaped your attention that this is tanking with another late 3 mill trade as well as another 2.5 mill gone through?
Currently the treasury shares wont raise enough to cover Scotts expenses
Agreed OTC, they're in for a tough time in December but there's still time yet and the pressure is on.
I cant think of a single reason why anyone would choose to vote for Twigger.... every one of them needs firing!
Would you seriously be adding to your short at 8.65?
SOLG isn't going bust...
There are "several" parties in the data room...
BHP, Newmont and Jiangxi aren't selling...
Its impossible to catch a falling knife but after today I'm at 11.3p and have no need to sell...
Nice of you to drop in occasionally to deramp...are you holding SOLG or are you looking for a lower entry...
Nearly 2.1 mil shares and holding strong rk, I have every confidence. Still I'm a high performer and if the value of my business was less than halved in 12 months I'd be taking a kicking from my investors. I expect the same level of performance from companies I invest in so there's no harm in marking their card, especially now. They need to raise their game or December is going to be tough. Its straightforward as that. C
Red, if that was aimed at me, dead right I'd be adding. This is falling by 3-4% a day with nothing to stop it until big, proper news.
Yes, I'm holding and have done for 13 years or more, thanks. I don't trade this anywhere near as much as you do though, hence don't need to ramp or deramp. I just comment on things as I see and my opinion says this is going down more.
Red, something to think about.
Have you considered that this is not a decent sized holder selling down and it maybe XIB adding to their short of even a new short ?