Member Info for mattlilly

Too risky...still too high IMHO...in case you missed it I preferred to buy !85k SOLG at sub 25p...

251 million shares were bought in GGP on the day it hit 27p...just four days ago...With the SP now down 35% since then, how long before the switch to SOLG becomes an avalanche as people at first reinvest profits and later try to recover recent losses incurred during the froth...?

So Quady...how do you explain your opinion on volume when CGP went from $3.95 to $6.53 (that's 65%) in just 13 trading days on TOTAL volume of 446,000 shares ($2.23m) at a daily average of 34k shares traded (c$170,000 a day, equivalent to c£100k a day, compared to our daily average of 3.3 MILLION shares (c£900k)...?

Statements like this sound pretty 'expertise'...as I said, all you have to do is add IMHO or 'in my opinion' or AIMHO and your view is legitimised...

"I have said a market price cannot be achieved with low volumes. Every investor should know this. The price could be high or low, with low volumes, ours is currently low. We need high volumes to achieve a close spread, and ease buys and sells, this way a market price is based on what people are willing to buy at, and sell at."

Agreed addicknt...and as all the permits and licences are in the public domain, together with it being in SOLG's interests to release drilling results as soon as they are meaningful, I don't see what a prospective hostile biidder has to lose...

BTW Quady...as I've mentioned before, as GFD I floated a company on AIM and led the entire DD process from start to finish, so I have an in-depth understanding in general...

Quady...you set yourself up as an expert here all the time, often without the qualification "In my opinion"...

Whereas I always signoff AIMHO as usual when I offer opinion.

The plain truth is that due diligence DOES NOT need to prevent a hostile, or even a friendly approach. It is the bidder's choice. ALL prospective bidders are about to be presented with a wealth of revised information via the PFS.

Furthermore, MANY on here have committed very substantial amounts of money to this share based on the information available in the public domain.

What is to stop ANY major from taking the same view?

I know you don't want SOLG to be taken over but that should not colour your stated opinions on what are legal and regulatory matters...

"Due diligence requirements What due diligence is necessary for buyers? Typically, a bidder uses publicly available information to undertake due diligence before it approaches the target. If the target is prepared to support the offer, the bidder may also present a list of matters on which it requires further information.

With a hostile bid, due diligence is usually limited to information in the public domain. However, the bidder may be able to obtain information from the target that has been provided to a competing bidder if the UK City Code on Takeovers and Mergers applies. This is because the target has a duty to provide equal information to rival bidders in a competitive situation."

AIMHO as usual and ATB...

Just bought another 185k at an average sub 25p with no difficulty...moved the price...MMs happy to buy or sell 100k...good two way market...

Who would have thought I'd get this chance again...

"holding OUR copper shares", not "holding not copper shares"...

I can't help thinking SOLG is a sitting target right now...

The PFS may come out during gold, silver and copper weakness and while there is general reluctance to buy shares...

The much heralded news, especially about regionals, has just not happened...whether it is due to COVID challenges or not, once again Nick has overpromised and underdelivered...

I am in no doubt that several majors which are cash rich, such as Barrick and BHP, will be licking their licks at the possibility of picking off SOLG at a much lower price than even a couple of weeks ago...

I regard myself as a fairly calm investor and even I have taken profits on all but a small amount of our gold/silver shares, though we're holding not copper shares such as SOLG and ATYM because of its special attractions...

As I have said before, my view is that Barrick will end up owning this company, and...

It seems to me the best defence for Nick now would be to enter into a partnership agreement with BHP, whereby SOLG issues a significant chunk of shares to BHP at say 45p, with another 'lock-in' but in prospect of them Joint Venturing the development of Alpala on a 50:50 basis, BHP having bought out CGP's stake once their handcuffs end on October...

AIMHO as usual...sadly I could see me selling half my SOLG at 45/50p in the next month or so, but that would fund holding the remainder to production and the rich prospects of the regionals to come...

OK so its fair game to bemoan the fact that SOLG barely moved from May to August while the gold price rose $500 an ounce and the copper price by over 60 cents a lb...as much as anything that was down to the restrictions of COVID and the dearth of news after the placing at 21.5p...in fact it could be said that the FNV deal kept the SP buoyant...

But gold and silver have fallen sharply in the last week or so, the FTSE is down almost 250 points having fallen 400 points in just three trading days, the S&P500 is down 10% in a couple of weeks, only Turkey has bought gold bullion since April and there is a general risk off tone right now...

Most important and against all the expert predictions, the dollar has had a strong run since the beginning of September and, because of the inverse correlation, this has impacted all commodities...

In the circumstances for SOLG to be only down 8% or so in the last four trading days while KAZ and ANTO are down 10% or so seems pretty resilient to me...

And look at the fact that people are struggling to buy shares and...the SP has bounced 6% off this morning's floor...

So let's be calm...as a millionaire friend's broker says "SOLG is a no brainer anywhere below 25p..."

ATB

Hi Scrat...personally I wouldn't touch LLOY with a bargepole...nobody has any idea about the prospective bad debts that all the UK banks may be racking up...I bought LLOY thinking they were a steal and then sold again...mind you if somebody bid for them that would be a different thing...it's good that they're not exposed in the way banks were pre 2008, but that means its a pretty unexciting low profit business model...

AIMHO as usual...

Interesting Kohaku..I hope you understand that my posts were well meaning and supportive...?

I'm coming to the same view...

In ordinary circumstances I wouldn't disagree rcgl, but right now SOLG is a far better investment than mainstream FTSE shares IMHO...and I have a raft of them...former high yielding blue chip shares that tanked yesterday...

I am still of the view that until COVID is done, gold/silver/copper is the place to be...the others are reinvestments on a 5 year view with prospective yield of over 15% if they return to previous dividend levels...and that's where my SOLG profits will go also...

Agreed but people put far more into SXX, including pension pots; entire savings; etc.

I'm not a novice but £260k is a huge investment for anyone...so I'm not judging...I had over £100k in ATYM and more than doubled my money...I wish him well...

Apologies...but so what...based on the general optimism here he'll be able to buy a terraced house in Blackburn with his profits...

Kohaku. Assuming you are genuine, I'm sorry for the response you've received on here. I've filtered some of these guys, but in general they are a good bunch, some very knowledgeable and you will learn a lot just by reading the objective posts.

Everybody has to start somewhere...75,000 SOLG shares is a big commitment for a beginner, but I won't knock that as Mrs and I have 1.3 million...

However, this Board is not an investing academy. If you visit often enough some of the answers you seek will become self evident.

Whenever a novice or relative newbie asks my advice I ALWAYS recommend doing as much research as you can. There is no shortage of it: with SOLG you could start by reading all the RNSs for the last 2/3 years; also Google is a mine of information and the sort of elementary question you pose can be input into Google to get some of the answers you seek.

As to Investing in general, there are sources such as Investopedia, but also again you can find explanations of specific topics by putting them in on Google.

I hope this helps and good luck with your investment here. Personally I won't even consider selling a share until they at least double my average (c20). My opinion is that there will be at least an initial bid; it would have to be at least 50p to be taken half seriously; and the final takeout could easily be £1/1.25 or more.

Good luck and AIMHO as usual...

It aint going down either...

Pretty resilient considering the FTSE100 is down 3.2%...almost 200 points...

It says unusual activity...you can still access it...

Consensus target price 73.4p...

12 analysts Buy

7 Analysts Strong Buy...

https://uk.investing.com/equities/solgold-plc-consensus-estimates