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Needalife Your judgemental and patronising attitude says a lot about you, and as I've stated before you know nothing about me. Far from having 'new found knowledge' and trying to impress people, I (unlike you) post factual and informative information about the company, of which for your information I've been investing in for over 5 years. In fact, it was my first ever invested. You called me a clown for merely mentioning I'd bought shares, again your judgemental attitude says more about you than I. So what do I know about you? I know you bought into companies which Mather was involved in Australia (when sensible people were fleeing from due to the economic slowdown in China) and I know you lost a small fortune, and have a grudge against him and therefore SOLG. I know you are a bitter and twisted individual who really shouldn't be investing if you cannot take your losses like a man, instead of constantly whining and insulting anymore who has a different opinion to yourself. Will I resort to personal insults like you do? No I won't. I'll just keep on trying to get the board to focus on the company. Enjoy the rest of your weekend.
Sorry to interject on the personal disagreements but thought it might be useful to focus on the actual company for a moment. Although just over a year old this article is as appropriate today as it was when published, probably more so as both the revised PFS and the strategic review mentioned is that much closer to being completed. Hopefully it helps so both understand where we have come from and more importantly how this will end up, and how important it is for us small investors to back the people trying to protect both our interests and the value of our holdings.
https://www.afr.com/companies/mining/how-bhp-newcrest-may-lose-their-copper-prize-to-a-scrappy-crew-of-minnows-20221114-p5bxxy
Jazz I did thanks. It echoed my thoughts I'd posted earlier. Interest rates to fall in the US from March onwards, a weaker dollar, falling inflation and recovering economies. A good time to release a revised PFS and results of a strategic review.
Ashton all valid points. Although I can live with it, having suffered a five figure loss in a record amount of time, my worst investment in over 5 years of investing, its fair to say I'm not happy with Bluejay at the moment. That's not to say I'll not be in the future but with all the uncertainty I'm comfortable taking my loss and to sit on the sidelines at the moment. With that I'll now stop posting here, wish you and LTH's all the best and see how things play out.
My understanding is the greedy bastards were after double what they got so whether its reasonable is questionable but 'fair' for absolute abject failure, I think not. Sadly for those who invest in small caps all too common. I suppose that's why most are referred to as lifestyle companies.
jezz i actually do drive an ev and must say i can't fault it. so much in built technology, adaptive cruise control and there's even times i've coupled that with lane assist and let it drive itself. think it helps if you're of an age where your boy racer days are over (that's not to say they're not fast) just that if you've progressed to an automatic it's the next logical comfortable step not having to break, just easing your foot off the accelerator (regenerative breaks recharge the car at the same time). mine does a real world 300 miles which covers virtually every day's journeys and if i'm going right across the country north to south i just top up the exact miles needed to get me home (which i've never waited more than 20 minutes for, a comfort break and a coffee). i home charge, costs me £15 for 300 miles, pay no road tax (even when it comes in it'll be £24 for my car). personally i really can't fault them. only downsides to me living in the uk, 1. there's only 50,000 charging points across the country for people that need them, the government promised 300,000 but this will grow. 2. 40% of people live where they can't install a home charger (multiple dwelling units etc) but bt are converting 60,000 old street copper cabinets to charging units so that'll help and 3. the ******* cost of the car! how the hell can mr average afford a minimum of £40k and up to £70-100k for their car?? whilst there are models coming out with an entry of £20k, they won't have the milage range. it's like asking an 80 year old to install a heat pump or solar panels for a £30k outlay and saying don't worry you'll have a 30 year pay back. anyway i digress, not that i'm a climate change freak but with glaciers melting in greenland at 3 tons an hour, temperatures rapidly rising etc, i do think precious metals demand will soar, even hybrid cars will need more gold and silver for their gold conductive properties. the bull market will therefore return to commodities this year imo, and whether its this year, next year or the year after i'm very happy to hold solg to see what pans out with the sale of their assets (which i actually think will happen this year) or indeed the sale of the company, which may take longer.
1984 I'm so sorry to hear you've lost your fiat but they were always unreliable. Condolences none the less lol.
Ashton whilst I agree with the sentiment there are two things the new management can be criticised for, in my opinion. Firstly, as I've said before, there was absolutely no need for them to announce a new strategy with a single focus on Disko before they had the new strategy in place. That single line statement did nothing apart from costing shareholders money. Secondly, to get an interview announced and miss several dates was naive at best, when I know they couldn't say what they wanted to say, which is why when I said a timescale I added 'or shortly after' I know they have many issues to deal with but it isn't a good start! Hopefully they'll get their act together soon and start delivering value to loyal holders like yourself.
Iv I don't think the interview will tell us much more than we know already. A single focus on Disko and divestment planned for all other assets.
Ashton, interested in your view of KoBold and your comments on them selling their stake. Would you agree with me that Disko is currently worth around £9m? If so that would make KoBolds stake around £5m. Why would they sell before drilling and increasing value having spent around £8m on it to date? The only reason I can think of is you believe its worth more than £9m. As I say I'd appreciate your thoughts on it.
The most important event in recent years for SOLG was the investment of Jiangxi, the largest copper producer in mainland China, who also have Gold and Silver in their portfolio. I believe China want virtual world domination in precious metals. They are already close to Russia and although they failed in Greenland due to their links with North America, they largely control Africa (despite KoBold recently investing $140m in Zambia) and they will wany to control South America as well. They have a free trade agreement with Equador, and have already lent them $15bn and maybe a coincidence have recently met senior Ecuadorian officials. Just my personal view but I don't think they'll want this asset to go anywhere but China, so that's where I think it'll end up.
Torr I may be wrong but I think the interview delay is in some way connected to a potential name change that Bluejay have to get permission from KoBold before announcing. As I say I may be wrong on this.
Subby for your information there are three majors invested, BHP Newcrest and Jiangxi. What I would strongly recommend if you're thinking of investing in SOLG is to pay no attention to anyone on this board and do your own research. It's pretty toxic on here, as it is on most boards where people have lost a large part of their initial investment. You have people overly positive because they're overly stretched and under pressure and those who are overly negative as they're bitter and resentful. In short you won't get any balanced option as to whether today's price represents a good risk vs reward. In short, if anyone uses an LSE bulletin board as a basis for investing I can guarantee you one thing, they'll lose money.
Subby probably two things have impacted the SP of late.
Firstly, a lack of news whilst investors await both the revised PFS and the strategic review. This has led to a low trading volume and increased volatility.
Secondly, the recent violence in Ecuador has certainly spooked some investors. You ask the cause and I'll try to explain what's behind it. I could simply say cocaine but it's not that simple. Ecuador is an attractive shipping port for drugs because its sandwiched between two top cocaine producers, Colombia and Peru. Furthermore they are the world's biggest exporters of bananas, meaning large containers are regularly shipped to the US and Europe and are perfect for hiding drugs. Furthermore two Mexican cartels have ensured Ecuador now account for 30% of the cocaine shipped across the globe. These cartels (who recruit the local gangs) are behind the violence as they fight each other for control of the territory. Its compounded by the Mexicans changing from paying the gangs in cash and now paying then in drugs, which in turn increased the violence. The current President of Ecuador. Daniel Noboa has designated 20 of these drug trafficking gangs as terrorist groups and authorised the military to 'neutralise' them, ie a shoot to kill policy. Its important to note the areas affected do not, and have not, affected any mining operations and as SOLG are doing minimal work at the moment, it wouldn't have affected them anyway.
So in summary, some are concerned and have moved on. Most are waiting for news on the revised feasibility study, which the company have said will be 'early Q1' and the strategic review, which is open ended but I assume will come shortly after the PFS.
Ashton thought you'd find this of interest.
Although out of Bluejay at the moment I'm still very bullish on junior miners this year and currently rainbow chasing elsewhere, trying to recoup loses.
All being well I'll return in due course.
https://www.youtube.com/watch?v=5qelnyR54s4
Eloro I agree with your thoughts on management, all management in Solg has been appalling to date and in my opinion self destructive mostly due to infighting. However, I'm of the opinion that SC deserves a chance to deliver. Whilst I don't agree with the open ended strategic review I believe both that and the revised PFS will come out soon and I believe that this is the year where Solg finally move forward and deliver value for shareholders. Of course I could be wrong, I accept that risk but all being well I think this is a golden ticket and I'm willing to wait however long it takes. Despite some calling me a clown and a muppet for being positive on this company, and being chairman of the ramping brigade, I'm really not. I don't care what others do. Buy sell hold, it matters not to me. Each to their own.
Dream people will always try to spread uncertainty on this board so its up to the individual whether they are believed. What's been rumoured would have to be voted through by shareholders anyway so just wouldn't happen. Think people out are starting to worry after today's tweet. I expect a strong blue day tomorrow.
Eloro you could well be right, not many (if any) do hit deadlines. However I'm hoping that their cash position forces them to get their act together. We'll soon know either way.
Fort that was my take as well, I think the PFS will come out soon and hopefully will be very positive in getting the SP back to a level that more accurately reflects the asset, and indeed brings multiple entries into the financial discussions. Those well down on their investment will continue to be negative until positive news, although have to say NAL put a very informative post up earlier which I very much appreciated. It echoed my thoughts that SOLG were very much undervalued and the most likely buyer would be Chinese. Personally I'm happy to hold and wait with patience to see what transpires this year.
Toplocks from kitchen sinking their flagship asset Dundas to reneging on strategic partners for both their Greenland and Finnish assets, which they were 'confident and optimistic' the day before abandoning them all, to announce a single focus on Disko, which KoBold haven't even agreed to drill yet, is very strange to say the least, especially as they're not even the majority owner. Their share is worth £4m and it's questionable whether in the current market their other assets hold any value and if they do, whether they can actually sell them. So I believe their mcap is accurate and I only see the SP falling over the next two months until KoBold announce what they intend to do. So, you fill your boots, I've taken a loss and I'm out.
Ashton, hope it works out for you and the family. Good luck.
1984 I think they'll hold rates as they are again this month and look to cut in March and May. They'll definitely look to reduce interest rates this year imo.