Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"Jackanory scenarios are easy to make up, but they have no basis in fact."
Interestingly all my opinions over the last two years have been given the same reaction - and yet they still have been far more accurate and honest than almost anyone else on this forum. Still follow hope rather than expectation, experience, human nature and wisdom by all means. When this sp goes sub penny we'll have another conversation almost exactly the same as any over the last two years I am sure.
Also trrime why oh why must you say burningdown1side and I are the same person? First of all I am not sure what difference it would make if we were but we are not! It is as simple as that. I don't accuse you of being anyone else. For all the posters here know I may well be you trrime! (I am not by the way) I only mention it to show just how pointless having this existential argument with you. Why do you keep saying it?
A few things to defend myself - with no CAPITALS!
1) To Trrime - as I have said many times to you before I did hold shares here and at the peak it was in the order of £120K worth - about two years or slightly more ago (time flies it may be 2.5 years). I cut my losses which at the time was an incredibly hard thing to do but I did it because I believe what I say here. It turned out to be a painful but good decision. I do not hold shares now but keep an eye here because I believe the scenario I have described is a possibility and that there may be, at the end, a small profit to be made.
2) My doom and gloom "fantasy" is not something I have just made up Jackanory style but it is based on my experiences with another company in which I was a long term holder and which was bought out against the wishes of the majority of long term holders. The scenario was different to Solo but it opened my eyes to what is legal and what is ethical - the two are often not the same!
3) CPerkin and others will, I hope, verify to others that I have not tended to rubbish Solo's assets (apart maybe from wondering just what Helium 1 actually is asset-wise) but rather the situation that Solo has found itself or perhaps positioned itself. If the assets are potentially so valuable then I feel it makes the scenario I describe more possible not less! The problem is that Solo is over a barrel, maybe several barrels. Two years ago I said the sp would stagnate or slowly drop with the odd little spike and for two years that is exactly what has happened. For every month of that two years we have had "news due next week" or some such comment - it wears very thin and has become risible quite frankly. I was told 4p was ridiculously cheap!
4) Time will tell. Just keep waiting, every blip up will be trumpeted as the start of the great rally, every slightly greater step down will be market manipulators I am sure. When the next deadline is reached another will materialize. I still think about "September" which was bandied about insanely, that was September 2017! As for Solo well the proof is in the pudding. If your wishes come true good luck to you. If this goes sub penny I may reappear. See you in what? Two or three months?
"Name one legal way the Kejoglo or is it all Jackanory again"
I did this about 18 months ago and "someone" got the post removed because they knew full well this sort of stuff not only is possible but happens a lot!
The legality is not the issue at all but rather the practicality. It is all based on just how low the sp goes (as I have said all along) - if the sp tanks to staggeringly low levels then a bid that came in (say 50% better than the ask OR for practical purposes lets say the sp is so low the bid is 100% better or maybe even 200% better - it does not matter really whatever multiplier you want can be achieved IFTHE SP DROPS LOW ENOUGH) then it could EASILY be sold to the shareholders. Anyone who had bought recently or perhaps even in the last year would be desperate to sell. If it came down to the directors shares being the tipping point then they could put their own personal losses behind them and still recommend the takeover. Of course what happens AFTER this is anyone's guess I mean whoever would be doing the buying may well need to employ people to run the new company and what they do to remunerate their new staff is up to them. Nothing illegal as the directors could hardly ignore someone offering double or more the sp! Particularly as many of the shareholders may want and to make a quick buck and Solo is over a barrel and GOING NOWHERE fast.
Hence the only obstacle is the sp and EVENTUALLY it will get so low that the above is practical. Every time I am told this is not possible a few months go by and the sp drops yet again. The shareholders would vote for it - not the long term shareholders but everyone else who will be buying at knock down prices. If you don't think it is possible change the sp drop to even worse and the offer to much better - eventually it will go. It may be unethical but it would not be illegal as the directors would say they were acting in the shareholders best interest and the shareholders vote would be the TEST! If the vote can be won then it is a self evident thing that the shareholders have made a decision. The fact that a lot will feel like they have been "robbed" and that their risk and patience has been rewarded with very little is tough.
Hence I am not saying someone is going to come and offer double the sp tomorrow but what I am saying is that Solo is over a barrel and the constant waiting will erode the sp and that at some time in the future and at some very low sp the whole lot could be got quite legally and with many people laughing all the way to the bank. Probably those who have been telling you to buy and have been secretly selling for years.
You may have "earned" your chance but sadly that does not necessarilly mean you will get it! If there is a way to get those assets for a song (and there are many ways) then you could easily be shafted a final time. This is not the boy scouts and you have not "earned" a badge.
Just wait and wait and let that sp fall. Wait wait wait...... and see.
That somebody is going to get the "value" here cheap is self evident if you believe the assets are worth anything at all. Just look at the situation and sp malaise. Sooner or later stuff you have been told for two years and which is right in front of your eyes wil become undeniable even to the most desperate and devious.
Solo long term shareholders are over several barrels. Prepare yourselves for your final shafting soon. As long as others can see a way of whipping any value away from you legally if not ethically then all the risk you have taken will account for nothing. I intend to get in at the kill to try and recoup some of the losses i have had here. The problem is that Solo shareholders are in such a weak position the sp could be driven down far more than it is now. Everybody except the long term holders gain from this "nothing happening" never ending limbo. Just how oow can the sp be driven down?
"you won't see this price again"
I have been told that for two years and you have been right for two years! Remember when I said the sp in "old money" had got to 10 a penny - you said the same then and now the bid is nearly 14 a penny in old money! It just keeps slowly dropping then stagnating with a little rise every now and then to pull in a few people having a punt.
The huge elephant in the room is that if you all keep waiting and nothing happens then eventually your patience will reward SOMEONE ELSE with possibly nothing you can do about it! I said this a very long time ago and was told to shut up then that it could not happen, then after years of sp dropping was told it was very unlikely to happen, now the sentiment seems to be it probably won't happen. In three months it will be it might happen and in six months people here will be saying "we are praying it does not happen". All the time the only thing that is required for the scenario to be plausible is NOTHING AT ALL and that is the only thing Solo has done consistently well for years.
When is the next deadline? A month is the normal, routine pitch. Lets see March end is getting a bit near so a deadline of some financial year end could be the next stop. It never ends - it is always "just around the corner".
"The only way this will be 20p is via consolidation!"
A SECOND consolidation that is! In real "old" money the bid is now 0.0725p! That was nearly 14 shares a penny!
Oh well when it gets down to sub 1p in the current pricing I might be interested as a takeover for a song may then occur. Other than that you'll all be waiting forever. Anyone remember the old black and white film in a train station someone asks "when is the next train?" and the staff give the answer "the next train's gone!" Just what and when are you waiting for now at Solo I lose track of when the latest deadline is - it just keeps rolling into the future!
This forum has been quite popular over the years and seems to be where a lot of people, who both buy and sell the tiny volumes that make the Solo share price go up and (mainly over the last two years) down, congregate. People unfamiliar with the company actually read this forum in the belief that they may learn something useful. After all this is what the forum is supposed to be for!
Now when people see what the situation really is with this company they often decide enough is enough and get out at a stinging loss and vent all sorts of anger at what has happened to them and detail just what the game is here... and then they are gone, a few comments rustled up and posted to get their rant pushed down off the first page and they are not even a memory. Unfortunately that then leaves a number of people here, who I SHALL NOT NAME or even indicate in any way that they could be identified, nor encourage anyone else to identify them or do anything that could indirectly hint at them, that are totally free to weave a web of "information" and data in order to encourage others to invest. In other words it becomes a ghost town for critics and the wild west for enticers. I find this a poor practise and detrimental to the forum. The enticers argument is that they are giving data which is useful to new investors, my argument is that new investors need to know how long these "arguments" have been bandied about and how they have never come to fruition and thus what the reality here is.
In short - New investors - Please be even more wary than usual of the posts on this forum. But it is your money so do with it what you wish.
I have read through this post several times to make sure I have not named anyone personally and as such I do not expect it to be removed. Also I expect that personal abuse thrown in my direction as I have had in the past for posts which may make uncomfortable reading for some, should also cease.
"Oh well good luck with moving on."
Actually Cperkin I think I might have a go at a short! I know a company that has a long way to go yet.
I lost a fortune on Solo but it could have been a whole lot more if I had not seen sense and opened my eyes to the awful situation here.
My biggest mistake was however to not have courage in my conviction and short this pile of ****. I have never shorted a company in my life (although I have been accused of doing so on here many times) and am not interested in doing so but when I think how bleeding obvious it was nearly two years ago that this was just going to stagnate and slowly drop I now realise that I am an idiot!
The question is whether there is still a shorting opportunity here? Again I am not really in the shorting business but it is an interesting question. For two years certain people on here have constantly banged the drum that Solo was under valued and for two years - well click of the share history chart and you'll see. Has anything changed? Fundamentally no. Some new heads have pushed their way to the trough to feed but apart from that it is still the old - wait, wait, wait. It is interesting to ponder but like I say I don't short - but if I had a gun to my head and told buy or short then I would have to short Solo - because what has changed to do otherwise?
"Strong buy"
If it really was a strong buy YOU would be buying and keeping your mouth shut whilst you did instead of telling everyone else to buy. The sp would soon be at the correct market value then. As it is the sp is already at the correct market value given Solo's history and uncertainty.
It never ends on here does it? Always talking the share up as being outrageously cheap - well that argument has been used for two years and check the chart as to what has actually happened folks! It has been "cheap" for two years and more and is in general getting cheaper every month!
This time next year Rodney....
Be careful steve58 your posts might start disappearing! That is only one of the ways to "skin the cat".
Next you'll be talking about who they might "employ" should they takeover the project themselves. Hey I bet those jobs would have good salaries and maybe even other "benefits" - lucky guys who get those jobs.
" explain exactly how the assets will be whipped away from Solo"
I have explained MANY TIMES on here and every time I do someone gets the post took down - almost certainly because they see it as an inconvenient and upsetting possibility. It is something which has happened to me with a different company some years ago and is something which happens quite often. There is nothing illegal about it but if you are on the wrong side of it you would not like it. What is the point posting it yet again!
"Grab yourselves a well deserved multi year Christmas bonus. All is about to change on the 4th Jan"
Yes you are right as things do tend to get even cheaper after Christmas! Just keep waiting and when it goes sub-penny there may be a little profit to be made when those juicy assets get whipped away.
Same old "Jam tomorrow". It NEVER ends......
When the sp gets to a penny or below then kiss your assets goodbye. Your directors know there is more than one way to skin a cat. Want me to give details? Too late! Every time I explain myself someone gets my posts removed! Go figure!
Earl_Bird, CPerkin from Saturday.
The problem is that when I am told that saying things like the "sp will stagnate or slowly drop" is just like ramping I respond by giving reasons as to why the market is more than wary of Solo and some albeit speculation as to how the board's motivations and the rump of long holding shareholders may differ. However when I do this someone always gets the post REMOVED! Either it is too near the truth for them or is something they simply think will put investors off - probably both! Hence my posts look like opinionated waffle (although very accurate as it has turned out) rather than what it is - that is REASONED.
For two years I have kept my eye on Solo and posted here to basically counter outrageous ramping with basic observations. When people have asked me to explain myself I post a more comprehensive and more realistically damning summary which is not argued against as being false but which gets removed! Probably by the same people who ssked me to explain myself in the first place.
Solo has never really delivered anything and its assets are increasingly in the hands of others rather than the rump of shareholders desperately clinging on. Until that situation changes the sp will inevitably bei eroded away due to costs, salaries and people not having infinite time to wait. To say this is not the situation is simply a falsehood. Hence you will be told to wait like the last two years and the sp will continu to stagnate or drop.
"Unless investors stand up for themselves they stand no chance"
I quite agree BigD and when I owned about £120k worth of Solo I backed you up to the hilt to stop further dilution buying a second tranche of Helium 1. However, immediately after, when it suited you it was a different story and you voted to pass resolutions which allowed the board to do whatever they wanted whenever they wanted and costing however much they wanted. At that point I knew the game was up and sold and have watched the sp stagnate and drop for two years - as predicted.
I may well reinvest here, my current expectation is that Solo will get bought out for an absolute song and this will be the final shafting for the long term holders and a pretty quick shafting for anyone buying now. My guess is that it will drop a lot further than it is now before a quick 20% profit might be had, say 1p to 1.2p (but maybe even lower) and then its goodbye assets! Anyone buying in at the end will be doing so to explicitly sell quickly. I actually said this 18 months ago and everything that has happened between then and now has not changed my mind. Why do I think this may happen when the directors hold shares? You work it out (I am certain you already have) I am sick of being accused of scaremongering when I am seeing the thing unravel before me.
Janeplumb - It would be a dangerous thing to completely ignore the past with regards to Solo because in doing so you may very well miss many interesting things about the present which you would otherwise be aware of.
The mechanisms which enable the Solo share price to stagnate or drop are very well oiled - it is like a constant dilution process really because nothing ever seems to happen but "nothing" has a very definite and ongoing cost. You may be thinking that a speculation spike will make you a sackful of money regardless of Solo actually ever doing anything. Well if you want that you better start buying a hell of a lot more shares yourself because the market is beyond wary of this.
However Cheers and Bottoms up to you too, I doubt Solo is any where near having "bottomed out" yet though. Not by a long, long way. I had similar points to make to people who bought in when the sp was 4p! They soon learned. However if they are cheap get buying some more! There are plenty of people desperate to get out who will sell to you. PLENTY.