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Cash raise is a definite maybe...more to the point is how much cash are Solgold looking to raise?. Is it the kind of sum thats going to take them to production one their own, or is it another 25 - 40 million to cary on as they have been doing till someone offers to buy us out? The fact that the share price is going so low would possibly indicate its the former. Nick has always said he will take this to production if there is not a decent offer on the table.... and we are getting closet to going it alone with every day that passes.... Also, if it is the former then this will go sub 20p and then go to 15p (my opinion) as whoever puts the big bucks in will want a lot of shares at a very low price....
DYOR
Theres not a lot of stock traded and its down another 5%... Everyone knows my opinion over the last 3 weeks... 20p or below... and I begin buying my shares back... Only has to drop another 15% and we are around 19P... Sells will come in now quick now that folk are beginning to lose their nerve and patience... Dare I say it...It may even go to 15p... Why? Well theres the question that NM will answer when he decides to let us all in on what going on behind the scenes... Its going to keep dropping (my opinion)
DYOR
BN.com... From August 2nd I have said I believe this share price will go lower...to 20p or perhaps even below....Being correct (to the extent that the share price has dropped more that 17% since I first wrote it ) can I suppose be construed as being 'full of it", and if thats the case then I have to retort they you BROKEN NOVICE.COM are"empty of it" as I have been right so far... Look at the current share price... Its going lower...and lower... and will keep going lower till it reaches 20p or below (in my opinion).
I will take your comment of being "Full of it" as a compliment ... although Im not sure you will take my comment about you as the same... in any case thats your choice...
DYOR
I think that's a fair calculation max19.... I find it hard to wait sometimes...I wish I had sold more this morning but then hindsight is ....well we all know what it is......Im still of the opinion this will slide down to 20p and very possibly below... Its well on the way to reaching there is the coming days/weeks (in my opinion)
DYOR
Can someone please let me know when the AGM is ??
Thanks in advance...
All I gain is my shares back at a lower price... nothing else...unless of course it goes up and I miss the opportunity to buy back.. theres no other reason for me to sell... unless of course you can think of one?? go on... enlighten me ...please..
DYOR
FilthyRich... You do make me smile... I sold half of my shares (450000) on June 27th at 32.31p... I was tempted to sell half the remaining 450000 over the last three weeks... Today I sold a further 100000 (just before 8.20am ). No reason for me to make this up... unless you can think of one?
I have said the following for the last three weeks...I think the price will go to 20p or lower...Then I will look to buy them back...Its now at 25.5 and dropping... Like I said its rare to be on the front of the curve but this time It looks very much like it will drop to 20p or below...Yes maybe Im wrong and it will go north... thats the risk... but for now I won't be buying the 550000 shares I sold back until its 20 or below...
DYOR
FilthyRich.... I sold at 32p (half my holding)....Reason why I didn't sell the lot....In case I am wrong and the share price takes a trip north....you can call it a safety hedged bet....which so far is doing what I think its going to do...By that I mean the share price is going south and will keep going south for the foreseeable future... maybe I will be wrong tomorrow and it will go up....
Almost 90% of what is written is made up and the other 10% is somewhere near the truth....Same goes for peoples thoughts on what will happen to the share price of any stock.... Most (90%) of us get it wrong!! Very few manage to predict what actually happens to a stock before it happens....and even when they do...they are only right for a few days/weeks before the stock goes the opposite way to where they expected it to go.... Thats the nature os the Stockmarket....try to expect the unexpected...
This stock (in my opinion) will keep hearing south...
DYOR
I still think its going to 20p ...and soon... theres always a hidden reason why any share price slides like this for two months ...(except the small climb between 19th till 23rd July) and more. We will only find out after it retraces (provided it does) and then everyone will say..."see, I told you so"
Theres negativity in this stock..I will leave it till 20p and below before thinking about buying back...
DYOR
Montecristo I agree with what your saying about drilling in serval priority targets... the problem is drilling costs and solgold will need more cash to keep drilling. The current funds held by Solgold are due to run out in the near future (6 months max) so more millions are required to cary on... hence the share price will (in my opinion) drop as the company will have to raise more cash form either the banks or Newcrest and BHP....whichever way you look at it Solgold need more cash which I believe will lead to a share price of 20p or below...
AIMHO....DYOR.
I said last week the share price will go down to 20p and possibly below as I know Solgold will need funding soon....They can't keep digging and paying salaries for another year on the cash reserves they currently have. Thats why I sold half my holding....Im now waiting for sub 20p before buying back... This will happen (possibly sooner that we expect). I honestly wouldn't be surprised of it happens this week/next week....
DYOR
Looking at the fundamentals Solgold has no option except to borrow more cash in order to continue drilling... this will inevitabily reduce the current price by (in my opinion) 25% to 30%. My estimates are from previous borrowing Solgold has undertaken.... Between now and X.mas we will see a placing of new shares which will ultimately mean dilution to all shareholders. There's now other way Solgold can continue (in my opinion) I have already sold half my holding and will wait till the price goes to 20p or just below before I buy back...
as ever DYOR...
EIA report coming out 3.30pm ...could give a little restbite to the drop....temporarily... before the downward slide continues...
DYOR