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Red, my point is, you'd know about it if Chinese were mopping up stock as we wouldn't be at 8p. It's clear that they haven't got stuck in on the scale required to absorb a minor 1.2% holding from the Berry snot street boys.

When the mm's begin to run out of stock or have finished with matching deals off book or after hours etc etc then you'll see them mark it up fast but only once they've loaded up with a few extras.

This is definately 'destructive' by Berry Street and their clients should be furious.

Perhaps the Chinese can't buy in open market now as they are under inside information rules?? Who knows but mind boggles why they haven't filled their boots. Why buy 1% in open market at 17p/18p and then do nothing when it hits 8p?

Two things to focus on

Berry Street don't have many shares left. No fund announces that they are closing and then goes about trying to close their positions out. That's mindless. I doubt they have much left to dispose as they never had much in the first place.

Second thing is the worry for me. If it's known that Berry Street have stock to dispose, why haven't the Chinese bought them?? Perhaps they have bought some... but you'd think after the 17p placing, they would be happy to snap up another 1% at 9p or 10p. They were active buyers when Blackrock sold out (referenced by Scott today) and that was at prices near 17p/18p.

So why are the chinese not snapping up Berry Street's 1%? Like I said before... perhaps a low share price suits them... are they planning to make a bid now SOLG look weak?

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.

Confirmed closure... hence when they are done SOLG should be bouncing back big time. Don't get greedy now.

https://finance.yahoo.com/news/ex-paulson-partner-shuts-hedge-110001091.html

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.

Anon3,

It's not just about share price reference points etc. It's also about market cap. When SOLG hit lows on March 2020 with the world ending and panic everywhere, the sp dipped to 10p. It didn't hang about there long... I know as I bought a a decent wedge but had to pay 11p for second wedge shortly after. The market cap at the time was about £235m. Today the market cap is about £240m. So not much in it. Hence we are at a comparable to 2022 cap. However, since 2022, we've spent about $100m on ENSA. We've also gone through a dilutive merger which means we now have 100% of ENSA. That's 15% more than 2020.

So if we were to compare apples with apples, then SOLG's sp should be around 4p higher at 12p levels and then that would be representative of the covid lows and end of the world fears.

Assuming the world is not going to end right now... we really should be down here. We should be at least 50% higher near 18p which is probably why you saw a decent placing achieved at 16.5p with chinese and others and Scott and co lapping up some nice options at 17p.

So forget about bids etc etc... that will happen when it happens. But the share price should be 18p+ right now and the market is giving away 10p to newbiews which is absurd.

Meant... asset hasn't changed at all. It's got better.

Why would you adjust your your expectations of an offer to 16p when it's based on the asset and not the current share price?

Noront share price was 21 cents and the final offer ended up being 110cents. The starting point of the SP is often irrelevant when dealing with large assets that have multiple bidders.

Of course... someone can always chuck in a 16p bid and see how it goes but I doubt management will gain much backing for it.

Here's some context....Remember, when the world was ending in March 2020 and zombies were taking over or covid actually but the same apocalypse feeling was spread across markets. The Dow Jones plummeted from all time highs of 30k to 18k. SOLG dropped from 20's to 10p ish. The fear in markets was scary. And that's as bad as got for SOLG.

Now here we are with 100% ENSA (not 85%) major progress made on red tape issues, politics issues resolved etc etc... and the share price is 8p!! That's 25% worse than when the world eas apparently ending. That's how stupid the current price is.

But if a seller cares not a jot about price and wants to do damage to the sp, then there's nothing to stop them from selling hard and big. And that's what's happening or happened here.

Remember, when the markets sorted themselves out and realised the world wasn't ending... SOLG's share price moved from 10p to 41p.

That's why you should be revising your expectations on buy out prices on SOLG. The asset has changed at all.

Surely solg bods knew who the seller was when they bought their director shares??

They must know the seller? They have access to the register on daily basis.

Distressed seller or not someone is bagging an absolute bargain. Chinese took 5% at 16.5p. They might get another 1%+ (if they were the buyers) at half that. They must be laughing their heads off and the ludicrous LSE market. London markets used to be number one in the world. They are now fast becoming like plus markets...

Franco took £50m for just 0.5% to 1% royalty on ENSA. Today, £50m is 20% of SOLG lock stock and barrel. Bonkers.

Agreed - what nutter would want to buy roughly 15m shares over the last few days?? Perhaps we'll here that XIB have closed their short and well done them if cashing in.

At last... wakey wakey.. here go

2 x 2m blocks gone through at same price as yesterday. Have they preagreed a 8.55p price now?

Well if they are long 'quality majors' then they'll be suffering on those... most are down by over 15%. Some down more than 20%. They've done well shorting the minnows but like you say it's small change reall as 15m shares roughly £3m in spend. Barely cover the yearly lunch bill on these hedge funds.

Quality majors in mining are flagging. Meanwhile, fossil fuel acquisitions are on the rise with Chevron and others paying the most they ever have for more of the dirty stuff.

They and others obviously see fossil fuels going much longer than the green eco warriors want.

Seriously Orphencopper, do you really think you need to police the BB's to protect buyers at present from investing in SOLG at 8p a share??? I can understand the constant your negativity and 'newer' investors style post if we were sitting at 20p+. The stock is on the floor, the wider markets and miners look well down. So is it not for investors to decide to buy when others are fearful?? At end of the day... if we think there's risk buying SOLG at 8p levels today... then heaven help us!

Porvenir is worth more than SOLG's current market cap right now nevermind the rest of the foli. You can take ENSA out of the equation and SOLG would be worth £300m or more. And that's based on market benchmarks.

Where's our heavy seller this morning then? Seems like they have taken a breather (for now) or have they been cleared and the mm's just fishing for some cheap stock.

I guess we'll find out soon but without a heavy seller involved, SOLG sp could be back to teens on manageent delivering some kind of news whether grass root farm outs or Ecuador red tap style stuff signed etc etc

"For what it’s worth, I think GGP will be fine.." Weird comment really Orphencopper as you post outlines the risk in partnering production/development of mines. What if GGP hit further delays? They have loans up to their eyeballs.. cash is running out and now production date kicked back by what looks like a year... you are not worried about them financing their stake in the future... but concerned about SOLG financing their future in 9 months time?

I think you've shown that you too can wear rose tinted glasses when it suits you.

At end of the day, GGP bleed and bleed hard everytime the super major involved stretches it out. As the Glencore ex partner said... super majors simply squeeze the little guy. That's what they do. 5billion shares in issue and likely to be 7billion ... either that or they'll go for more debt and then runs risk that it could take them 4 years+ of gold production before they even repay that debt based on a minor 53koz per year production share.

Not looking good for GGP at all. But like SOLG, I guess there's always a chance someone comes in and offers to buy their 30%+ stake.

I thought Mather had gone a bit quiet. Mmm.

Italian... yes, I know re Blackrock but just found their remaining 16m shares a curiosity as feels a bit conflicted with their original 'algo' goal to flog the 5% holding and exit. Why leave a toe in? It's hardly worth it for them.

When was this DGR loan deal done? If it was done late last year, then perhaps the XIB 0.5% short accounts for those 15m shares which XIB sold straight away? Effectively they have more then doubled their worth. Of course, they still need to close out. Feels a bit 'insider' to me and skirting with the rules as Mather would know what's going on with SOLG.

Speculation of course but that 15m round number matches that XIB short. Coincidence?