Member Info for mattlilly

Good day yesterday on solid volumes...

Worst volume since September today...waiting and watching...?

Gold price weak...SolGOLD weak...

Shenanigans running up to the new Basel regime in January...shaking out longs so the market doesn't have to deliver the physical...

Wow. Despite the 250k after-hours sale at well below the bid, this share was doing well this morning until two sizeable sales came in...

I may be wrong but I think there is a large buyer at 24.825 who was also there yesterday, that the MMs are trying to accommodate...

At least the 10k Autobots are still buying...

Here's hoping for a bounce towards 26 or even 27 later...

:-)

I can't see any earthly reason to push PFS beyond January...

AROK...are you novice in disguise...?

Why would you want to keep reading the stuff he writes and then litter the board with responses...

Just filter him as I did months ago...

If we all filter him he has no soap box to stand on...

Simples...

Hi rcgl...and what about all the people saying BHP have too much influence with 13.57%?

DGR Global has TWO Directors with only 8.9% of the shares...

Thats why I've voted 1.5 million against Moller...

5/6 years damer...its been so long....

I'm not addickt... I only notice patterns...

Through the 20 day Moving Average last Tuesday at 24.3...it now sits at 24.0 so 3.1/25 clear of that...

50 day MA at 25.7 and 200 day at 27.15 but all three are bottoming out...

Onwards and upwards...

Or to put it the other way around...

80% of 55% voted FOR Mather...thats 44%, but the shares he owns or influences were c20%, so only 24% of the available 80% voted FOR him...untenable...

I have no reason to believe they have ever held back material information for an unreasonable period...

A little light relief...

10,000 Buying Bots winning 9-7 at halftime...

Hi Tos....its worth having this debate...

I didn't suggest Nick withheld information...quite the opposite...what I described as a 'blizzard' of information...

The trouble is that the definition of material, while consistent (see below) is subjective until somebody challenges it or it is reported....

So there are two stages:

What is material in general and...

What is material in a mining/exploration context...

I read your post very carefully and it seems to me that most of what you posted in that specific matter seems to relate to information which has been published and whether there have been material misstatements or omissions...

This item from the link below seems significant:

"Material Information means information which a designated officer has reasonable grounds for believing to be relevant for the purpose set out in subsection "

So...starting from one end...should information be reported as soon as a hole has been started...clearly no...

What about when drilling is part way through on that hole?...clearly no...

When the hole is completed...? Depends...are the results 'significant'?

(BTW the words significant and substantial crop up multiple times in the link below).

Is a Cu level of 0.15% significant? Clearly no and in an earlier discussion on here, some people probably wouldn't be happy with less than 0.30%

But then there is context....a prospect has multiple holes drilled.

So far the pattern has been to wait until there are results from a number of holes.

From my point of view, if a 'designated officer' decided there was no need to publish, I think it would be a reasonable defence that the company was waiting for independent technical confirmation. Drill results are often sent away for analysis...

Finally, clearly we have a part completed PFS with further progress made since January...why isn't that material?

Because I am certain in my view that PFS, PEA and MRE should be independently assessed before there is a REQUIREMENT to publish.

I would welcome your views...

https://www.lawinsider.com/dictionary/material-information

Battle of the Bots for the last hour...10,000 buy...10,000 sell and on and on...

Bearish harami on friday, but share price holding up today...
Still poor volume 400k+

Drilling news, PFS and MRE all have to be independently confirmed before they are material...otherwise it is at the company's discretion as Nick showed last year...

Bid defence can be quite problematic rcgl...

We also appointed Citi and part of our defence strategy was that we had a 'white knight' lined up...

In SOLG's case that would either be a more acceptable party or, for example, a JV on Alpala with, for example, Newcrest...

In some ways its a lose lose situation, especially if the bidder is determined...I have enclose below a summary of Rio's defence against BHP in 2012...

So if you fear a bid, on the one hand if you get out all the new now, there is no ammunition left to persuade shareholders to reject the bid, so all you can really say is that the bid undervalues the prospects for the company and trust to fate...

On the other hand, if you hold back your juicy news and there is a close balance between those who would accept and those that would reject, it might just swing the balance...

My own sense is that SOLG is simply too small to withstand one or even two determined major players...

In that case the best we could hope for would be a Wyloo type outcome:

23c before the bidding action started...45c first bid...75c...now $1.17...

That would take SOLG to about £1.20 and many people, myself included, would take that...

Hope this helps

https://www.standard.co.uk/hp/front/rio-tinto-boss-in-fightback-against-bhp-s-takeover-bid-6698246.html

Less than 50,000 shares traded in the first 90 minutes...

Market clearly excited about the AGM...

Too late now...not you late now...