The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
@velo sorry but I don't understand why there should be a retrace this week. Are your predictions based on TA?
There's good support around £1 and then there's a diagonal line that should provide support around 97 or so. If it really dips i'll buy as much as I can
First the disappointing bits: too long of a wait to get this update, still not a lot of clarity about liabilities and finance, low production and unclear path to increase it. But I think most is already priced in.
The good bits: Robbie putting a lot more skin in the game, Philoro discussion hopefully being sorted soon, experienced chairman, acknowledgment that corporate stuff and communication need improving, lots of gold to be extracted.
I've invested quite a bit in this company and I am now incredibly annoyed at the management. They messed up several times their communication, they mislead us on the funding, they are keeping us on the dark on what is going on. Are we producing? how much? is there any cash left? what happened to the philoro funding? No surprise the market is tearing this to bits. There's no f. conspiracy no there are games played by MM, it's just investors selling in panic. I am still holding as I hope it will eventually turn around, but the management is a joke
solid presentation yesterday by Eric.
We should see two resources upgrades at WK in the next month or two, the first already next week. And Singida is on track to start producing in March. From a cash perspective, we do have some debt accumulated because of lower production and Singida costs but from Q2 we should be recovering very rapidly. There's also the added bonus of the VAT situation. The government is now paying in full all the current VAT due, while they are negotiating the historical VAT at the "most senior level". I bet we'll soon see some agreement between Shanta and the minister in charge. Even 50% of that would be $10 +.
Bright future ahead. I am adding more if we dip again around 10p
some people here and in the telegram chat are so childish and gullible. Always looking for some conspiracy that is preventing them from becoming rich. The stock goes down because of shorters, derampers, weird coincidence, when things are so much simpler. Investors lost confidence thanks to several **** ups and promises that did not materialise. If I criticise the management it's not because I am shorting but because I invested a significant amount and I am losing a good chunk because of their incompetence.
Having said that, I am positive in the long term as the shiny stuff is there and we have a plan, although it may take a bit longer to get there. Mining is not an easy business
total ****show today which continues to undermine investors' confidence in the company. Poor communication, Q3 figures still missing and then this. I am really annoyed. I think Robbie is acting in good faith but this is not good enough.
I am worried about the timescale of the mine expansion and of the drilling activity but hopefully Philoro may quickly agree to increase the size of their commitment. This should help restore some confidence. Other deals are going to take months, unfortunately.
On a positive note, OCIM had done their due diligence and they did not pull out because of missed deadlines by GCAT or poor confidence in their ability to deliver, so I would assume that all is progressing well enough. Same goes for Philoro.
The other good news would be Robbie buying shares as he stated in today's interview, i just hope he won't have to backtrack on that too.
I bought some more at 0.6 and will now ignore the noise for a few weeks. Fingers crossed
in the last slide of the presentation it says that the next 10-15 km of drilling are fully funded.
Exciting times ahead
looks like a few investors are positioning for the flurry of news we have all been waiting for.
I am expecting the rare earth MRE to be issued next week as in the 5th of december RNS is was said to be on track for publication by the end of the month.
Then the drilling samples will follow, perhaps in late january (Rupert said 6 weeks in the last RNS), with an updated gold MRE soon after that. In February we are also going to start drilling again. Funding should not be an issue for a while so I am quite bullish right now
This RNS has the purpose to sweeten the pill as the mine expansion is further delayed by 3 months. I just hope this is the last time we are moving goal posts. Having said that, before some ********* calls me a deramper for stating the facts, a slight delay is not an issue given how undervalued this company still is.
We have a few million oz more to be discovered, a very low production cost and we are fully funded. We'll be at a much higher SP when the expansion is completed or near completion. POG is also likely to shoot up once the Fed pivots, which is likely to be in Q1-Q2 next year. Exciting times ahead
ID78 agree, they are likely to combine the (low) production figures for Q3 with an update on the mine upgrade and some figures on the heap leach pads to prevent a negative market reaction. I bet this comes first and the hopefully great grades from Vim Rutha to follow later in the week or perhaps next week. If we haven't bottomed out we are very close. We may get close to 1p by the end of the year..
I can't believe we are still in the 70s! I topped up again today as two more RNS are expected this week:
1) Vim Rutha results, that RM recently defined as exceptional in an interview
2) Kilimapesa project economics
Together they would give even more confidence to current and prospective investors. We just need the team to deliver on its 24k oz/y target and the POG to rise a bit and this will fly in Q1-Q2 next year.
"There is a lot going on behind the scenes in the mining business that will change it forever. Increasingly, the control over materials by Governments due to the increasingly strategic nature of them will impact globalization in the industry and how we invest. Cannot say more."
someone asked to elaborate and here's an interesting one:
"How much financing of searching for the metals needed to electrify the world will I do if I cannot have the Chinese as potential bidders to keep the likes of BHP & Rio honest? Returns will collapse and less money will be put into exploration. Is that good for the world?"
It would not be surprising if the chinese were sidelined here to favour western companies, de facto reducing the number of potential predators. Not good for SOLG then..
Let's hope the seller is done, otherwise this slow agony will get more and more painful. I can't explain the lack of interest on this share since we are about to start production at Singida and WK is being proven to be an amazing asset.. Still holding and pocketing the dividend but I am hoping for some action. Perhaps our boys could get their hands in the pocket and buy some shares..