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To get back in for the trade back towards 18. But let's see if 13.8 holds. If it doesn't, then March 20 covid low of 10p could be on the cards.
If it hits 10p chucking in 50 large. Can't see it though.
I know it's tricky buying large volumes in open market but a few million shares here and there can add up and is more than possible.
In theory... if the Chinese took 16p placing, then I'm sure they are more than delighted to be able to pick up some in the 13's. Thus far, volume suggests they are none too bothered as I can't see any major buying going on juts a few over stretched or lover leveraged retail players getting squeezed as it drifts down.
Same could be said for Norges. Big buyers in the late 20's and early 30's yet seemingly sitting on their hands now.
Weird old game isn't it?
Just goes to show for investors... don't get too excited when a Norges type buys the stock.
They can and do make a horlicks of it. They have done so again here.
If SOLG end up going for 40p or 50p or 60p+ then Norges will have done very well. You are making the assumption based on the state of affairs today. The reality is, should they want to acquire 100m shares now, then I can assure you, they would be able to get them for sub 20p.
That said, the chinese got a nice chunk for 16p but there's several ways to look at that one.
Todays sp snapshot is tomorrows historic view. Norges will not be watching SOLG share price on a daily basis and aligning it to every cat and dog event out there. They would have bought in on the basis of the asset. So if this goes for less than 25p then yes Norges has made a horlicks out of it. For now... I am glad they are on board and supporting the SOLG BoD's and the new direction as per AGM votes.
Fort - not sure a 30% gain (assuming 30p cost) will represent a fantastic return.
50 and 60p slightly better. They've still had a mare. They could have filled their boots and some sub 20p.
I don't think that's case Bozi.... they acquired 90m shares + last year and if they were to try and fill their boots again even to the tune of 20m shares, then I doubt they would get sub 20p. You can 200k here and there around today's price but try and by 5m block and you'll be paying 17p+, 10m block and you'll be paying 20p+ unless of course there are sellers around who are happy to offload that kind of volume and as tings stand - there isn't. Just smaller pi action drifting and squeezing going on that I can see.
Don't get me wrong... I'm not saying they played a blinder but they haven't made a horlicks out of things just yet. 30p would see them out with some profit. 50p would be a successful return. Norges fund has lost billions over the last few years but they've had some gainers as well as losers.
I was just answering your point on Norges NOT being a great indicator and as yet.... we are yet to know as SOLG story far from over.
Come on Fort. They could easily work 500k per day into the market and at around current prices over a month and pick up 10m.
Yes the SP would be supported initially and then rise but I'd be happy to say 20p would only be seen after 4 weeks of discrete buying.
The last time they were quite chompy and aggressive with large after hours in the millions. They can box a bit smarter than that,or their broker can.
Yes agree - that's my point when I started the post. Norges and Chinese could pick up more stock in open market albeit smaller chunks but at present there's lack of heavy weight buying hence the drift.
Next top up mid 12's
I'm going to top up mid 12's next if it allows and keeping powder dry for sub 11.
I'm happy to walk away with 17p a share not being greedy.
I'm going to double up at 7P to give me an average of around 15P
if it keeps dropping Reds gonna bid for it himself
You will get your money back jezzoo and some.
GL