Member Info for pernickety

The prospects look so good here that there will be new orders to fill for people wanting in as cheap as possible.
This will eventually fade and less will part with their shares, but in the meantime there will be ongoing tree shakes.
The only upside is that it also gives opportunities to people like me wishing to accumulate and average down as there is now a clear path to production and a distinct possibility of finding new ore bodies.

I think this short is to shake as many PI's out as possible to give control to the bigger players who want a piece of Havieron which will possibly be one of the largest gold/copper mines in Australia.
I like many others will hang in there and add on a monthly basis averaging down, but there will be some who will not manage to do that and give up their shares.
The path is clear to production or a take over, but it has to be patient money for those who can hold their nerve.

Hi rednight
I was of the impression that SOLG was having difficulty raising money without making NCM/BHP stronger, which they would not want, but that may not be the case.
I just cannot get my head around why they cannot get funding when they have such a good find at Cascabel and first mover advantage in many other sites all over Ecuador.

I do not want to have another go.
I want the company to do well but it looks like fundraising is being controlled.
Larger companies that have a % share of SOLG may have different ideas of how the company should progress when they get seats on the board.
These are only my thoughts and are not to be taken as advice.
I hope the company rises considerably tomorrow.

Sorry assey results.

Looks to me like the company are on a care and maintenance basis.
Gone (for now) are essay results and excitement.
Cannot raise money of their own choice.
Share price falling on a daily basis.
I am still a holder but not so much now.
Whats next.?

There is nothing stopping Wyloo buying more shares on the open market now (deep pockets), instead of waiting for their 10p options later.
They could hoover up the short sells.

I presume if NCM had agreed to take $85 million for 5% from GGP, we would then have owned 35%, as we still own 30% with no money changing hands.

Damers
Hope your investment does well for you.
Did not realize I pushed you over the line, lets hope it is in a nice way as the Havieron resource grows.

Damers
My first GGP purchase was just under 14p but have averaged down to around 11.5p.
A starting buy price is much better now.

If you have the cash and GGP does fall, average down, as it will eventually rise, or any bid will be considerably higher.
Just make sure you do not need the money back out within the next 18 months.

Damers
Costs will be considerably less for GGP to mine as might only have 25% of Havieron if NCM take their option for another 5% for $60million which was offered to them in the past.
A bid could come in for either of them at any time so this is why I have both.
Looks to me like SOLG is being manipulated by their large shareholders and may find it more difficult to raise money but still hold 85% of Cascabel/Alpala which is a huge chunk of a tier 1 mine.
It is a personal feeling but I do not think in these 2 cases the big boys want partners and will eventually make a move but as they say patience is a great virtue so I will wait and see what happens.
I have added quite a bit of GGP recently as at this time I think it is better value for money at this time.
Again this is my thoughts only and not advice to others.

Damers
Also visit ggpchat.co.uk.
You can visit as a guest, or join.
Some very knowledgeable posters as well as a wealth of information.

Damers
Not sure if it is in the long term but I now hold GGP as well as SOLG.
Greatlands Havieron find is in a joint venture with Newcrest in Western Australia.
The decision to mine has not been made yet but with Newcrest possibly buying another 5% of Havieron ( not decided yet) would take them up to 75%. A decline is currently being constructed at Havieron to extract first ore which would then be transported to Telfer, the chances are that it will be mined.
Newcrest Telfer mine, about 45 kilometers away, processing the ore would be beneficial to both, as Telfer after having been mined for decades, grades are low and now more expensive to extract and would eventually have to be decommissioned, but the infrastructure and workforce is in place to continue with new finds.
GGP share price at around 11p looks low to me compared to previous levels and word on chat boards is that it is being shorted to keep the share price down.
Havieron resource is open in most directions and should increase in size considerably from what it currently is, with the possibility of finding something else in the area as drilling continues.
Timescale would be around 18 months for the decline to be completed and mining to start which is early months of 2024.
I think it is a good addition for me but it is not advice to others.

Share certificates are good but shares in an ISA are tax free and could save a lot of money when the share price goes up.

Yes I would be happy to hold for years to come as well, but that will not happen if an offer is accepted for Havieron or GGP for that matter, in which the buyers required percentage of sellers threshold is reached.

I think NCM will continue to try and suppress the GGP share price as well as possibly build a stake for themselves until such times as they can make an offer for the remaining 25%.
Private shareholders will have to hold on to their shares and stick together, as recent and new money purchases with the likes of fund managers may be let go for a lesser profit than full value.
Does anyone have any idea of the percentage shares in private individuals hands as this will be the key to not get taken out cheaply.
I do not think NCM will want a partner when it comes to production.

Would they have thought seeds were being sowed for a miniature Gamestop.

In the Mining Journal interview of Jan 22 Darryl Cuzzubbo was asked
Solgold hold 4 separate subsidiaries. Recently the company has been looking for partners because you have more than you can handle. Does it make sense to spin out Cascabel into a separate entity, so you can really focus on that along the lines of what Solaris Resources plans to do with Warintza?
DC replied
It is an option, and we are working through what our strategy is on that. We always have to take a long-term value strategy here.
Cascabel is the largest and most advanced and Porvenir is the next cab off the rank. There is value in having multiple economic deposits, having a pipeline, whether you do it or whether someone acquires you (bigger portfolio of deposits, more attractive)
For short term value hiving them off might make sense.
Taking the long term view, Ecuador is going to be the next copper frontier at exactly the right time that the globe needs copper as we transition to net zero emissions.
Having multiple economic deposits, and a pipeline of projects at different phases would be very value to a major, so we cannot lose sight of that.
So it might be then that he does not want to sell Cascabel on its own as BHP/Newcrest probably want the whole lot.
The other projects would not have a huge value at this time but may do in the future.

My buy was at 11.35am.
Will have some more if it goes under 13p.