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I have been in this,stocks, for about 10 years and this is the most testing time for me, huge losses!!!!! Anybobody been in this for longer and can calm my nerves???
ATB
DK
It was very hard to buy small amounts of shares yesterday just above 10p - can't see many selling at this level - possibly single digits before a bounce back above 10p - mm's may try and spook you this morning for a short while before taking it back up. Hold your nerve.
Darren - as weeks go, they don't come much worse than the one you're having.
Your biggest holding very weak and another very much going to the wall - you have my sympathies.
I can't offer investment advice and wouldn't dream of it but try and remain calm. The situatiom at SOLG, whilst it has been pretty poor on the whole the last 18 months, doesn't IMO represent the current price.
I think PIs are pulling funds out of the market in a panic and some are projecting onto Scott. The situation is what it is.
I wish you well.
I think you're right Ray. We've had the panic merchants but we are now in the cross hairs of the bargain hunters, just depends how low we need to go for the tide to change. Been a poor week for miners generally and solgs fall has been based on low volume. Unless there is something we haven't been told, we are oversold.
Darren Solg has always managed to produce extremes - we didn't really belong up at 45p when we were flying and we certainly dont belong down at 10p giving an MCAP of £300million when you remember that some very shrewd investors paid 16p for a placing only months ago. They probably did more homework than the retail investors currently running for the hills.
Darren,
It's not just SOLG... wider market has been getting spanked of late as inflation remains sticky. In the old days, the flight to safety would be gold but now the spivs prefer to take safety in crypto which basically has no source what-so-ever and is a market invention.
Traders should be all over SOLG today and tomorrow as the RSI is lowest it's been for 10 years. Very rarely does the RSI head down to these lows without a bounce. Whether that offers any restbite is entirely down to the market as a whole bit also Scott and co. But it will bounce. I'm lucky that I can add stock at these levels... not everyone can and that's the rough justice here. But I reckon when Scott tucked away those 17p options he was laughing... so he and others clearly thought they were great value ... easily 'half price' at the very least ... so 10p looks a blip and over leveraged players can drive the sp to these levels when forced sellers.
I'll be adding at these levels too if I can - always wanted to join you long termers who were in at under 10p.
If we continue to crash then the trolls are welcome to laugh at my losses - you can always tell who is really invested and who isn't at times like these. They can't help themselves.
Think ill be buying more today given the opportunity - price was @ 14.5p just over 2 weeks ago if I'm not mistaken
Of course you will Sean, when you’ve seen if it bounces you’ll claim a trade just ,are sure it isn’t someone else’s like last time…..
Ray ….. said the same thing yesterday it wasn’t easy to pick up stock in any quantity.
No idea where the share price is heading in the short term but this is cheap imo and I now hold more stock than at any time in the past…… for better or for worse.
Pretty sure the company is probably in a much healthier state than it was under DC and I will be giving Scott my support at the next AGM….. just think the last thing we need is more upheaval right now.
Also think the tailing site and pipeline are most likely in the bag and the reason he keeps mentioning them. All boxes that need ticking and will eventually add significant value.
We just need to flush out a bidder ( hope there’s more than one) and we’re away …… one could argue that far more likely at these levels.
Was having the inevitable doubts that creep in whilst the sp is in free fall but when I stepped back and thought about it I decided to increase here .
'we need to flush out a bidder' indeed DBW and sitting at 10p will certainly have a few licking their lips but doubt they'll chance it until post elections.
Even a cheeky PE firm could lob a low ball in at these levels and see what that brings out of the cupboard.
Should add that didn't anyone else notice that the sp moved down on some smaller AT trades yet when a sizable 100k went through clearly on the offer, the sp didn't move. It's like buys were just being dismissed and this was on a mission to test 10p no matter what the book was doing.
DBW, you're right about taking a step back and thinking about matters more carefully. And one of things we should remind ourselves of is the CGP deal.
Not only did we pay a high price, but we also spent $16m on fees (I recall someone on here saying they would only be a couple of million). Why did we do it if the board were pessimistic about the future?
Of course, many management teams get this sort of thing wrong - for example, most of the major miners in the M&A boom years, but did ours? Surely a year ago the fundamentals i.e the assets, were there? Have things really changed so much in the past 12 months to justify the current value or to make the deal look stupid?
One of the arguments about the deal was that we had no choice and it was a defensive move. Really? Every board has the choice and if we knew things were not as they seemed, no one in their right mind would have progressed.
Took a small punt here, I think drop is overdone
I hope you are right Donotpanic but I have followed similar comments in the past and I am now sitting on a huge loss. The Strategic review seems to be endless and so it appears to me is the data room. Could this be another Cineworld? -I ask myself
This is different game then Cine, this could be taken over, defo looks like bounce will come, we had red days and now let’s have blue days