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Are you serious? I was watching this share last year but didn't have any free funds in my ISA, it was pretty much £1.20 - £1.50 for a good chunk of the time. It's now over £3 and I'm kicking myself for not having sold something else and snapped it up around £1.20. And you're panicking because it's come off 20p or so in the last few days? This is a transport company not some FOMO tech stock. Also full re-opening isn't happening for several months yet. Imagine if you went back to 2019 and told the market NEX was effectively shutting its business for just 2 months out of a year...
Haha nice analogy, let's just hope we don't wake up with a nasty hangover.
In all seriousness, I'm not worried about the SP day to day because so much news is due. While we await the news it might hiss a bit of air... I'm sure the market is half expecting news each day so when it arrives a few more holders might lose interest and head off elsewhere. Q1 still has a whole month to go so we just need to sit tight and wait patiently, the news will come when it comes.
I'm also in Solg and it feels like we are forever waiting for an RNS there while the SP slowly declines - or, falls off a cliff over the last month or two. Just need to stick the course, junior resource stocks are volatile and speculative, that's why the rewards are higher if they come through.
I'm surprised the election result was weighing this down that much, if indeed the relief of the run off confirmation is what has caused this rise over the last few days. I was obviously way too blase about the election because to be honest there never seemed any realistic chance of Perez getting in and whichever of the other two got in was going to be pro-mining.
Considering all the very real risks that have been effectively chucked out the window in other segments of the markets, seems odd that Solg investors were so cautious over the election...
Is Jason Ward vulnerable? Do you think he will be out soon, if a new broom CEO comes in and wants to sweep the place clean of Mather's loyalists? Does his role as head of exploration allow him to distance himself from the strategic decisions made over the last few years? During those webinars last summer if felt like Ward was the de facto number two at Solg, but not heard much from him since.
One thing that bugs me about the whole re-election business is that if you were to take the official story at face value, that he let it be known that he intended to retire in the summer but he wanted to secure re-election so that he could remain on the board as a NED, then I feel like I was essentially duped into voting for something that wasn't true.
As things stood pre-AGM the choice appeared to be either re-elect Mather as a director so that he can continue as CEO and keep playing hardball to defend Solg against a lowball takeover, or don't re-elect him and he will be out as CEO and we will begin the slide into the hands of the majors who would happily buy us out for 50p max.
When in reality if you believe the Solg version of events, the choice was either re-elect him so that he can step aside anyway, or don't re-elect him as above. Would I have voted differently if I had known? Maybe not, but it just adds to a bit of a sense of being kept in the dark or being fed incorrect statements after the fact.
Also, if it is true, were the major shareholders BHP, NCM and CGP aware of his intentions anyway prior to the AGM and still decided to put the boot in and block him from staying on as a NED? Seems somewhat provocative if they already knew he was planning to quit.
Price drives narrative, which seems to be what's happening here. I don't really see what has changed fundamentally, Alpala was always going to be producing only in the late 2020s, and the Capex was always going to be many multiples of Solg's curren mcap, and they always have had a concurrent need for funding to progress multiple other targets. And yet I don't recall Cornford screaming sell, sell, sell in his previous few articles, or arguing that this was a car crash happening in slow motion. But now the PFS has been delayed (to optimize it for possibly cheaper and faster routes to production) and the SP has gone down, he basically says "I told you so" as if he always did see this as completely unfeasible...
Schadenfreude is not really a very nice way to get your kicks. Saying it's a pity you aren't even getting to enjoy your schadenfreude (in the form of GGP investors losing money on their investments) seems doubly mean spirited.
Risk reward is too unfavourable in BTC at this price, not that many crypto hodlers have any concept of risk. Time to buy would have been around $5k as it seems to follow a fairly predictable 4 year pattern with the halvenings or whatever they're called. The way I see it, with BTC at almost 50k it's easy to get drawn in and think what if it goes to 100k and I miss out? But it's highly likely at some point to have some absolutely epic drawdown of like 75% or something. So is it really worth risking 50% plus of your capital right now in order to achieve a gain of 100%? I'd say no, because if I'm risking 50% plus of my capital I want much bigger rewards than that.
Bought ORR at 1.25p. Now it could easily plummet to 0.6p, which I'm aware of, but it could equally well multibag from here to several pence, maybe if all goes amazingly into double digit pence. That's much better risk reward for me. If I wanted something that's going to maybe at best double over the next year, I want a much lower risk of suffering a huge loss and much lower volatility. I can't see BTC going to even 150k from here without some extreme drawdowns along the way.
H-hi. Firstly the big US banks such as GS, JPM, BofA etc are no longer allowed to engage in proprietary trading, it is prohibited under the Volcker rule. They facilitate and execute client orders and take positions for hedging client facing positions, but they are not allowed to trade against the street for their own account (which they were doing before 2008).
Secondly wealth management and asset management is one of the key target growth areas for most large banks these days which they see as a huge market for earning extra revenues when traditional areas are being squeezed by regulation and other factors. When banks like GS produce research predicting a commodities super cycle and they are advising their own WM clients to get ahead of this by investing. Their FAs will be using this to position client portfolios and the banks markets division will be structuring institutional client trading ideas based on this view.
From a commercial perspective it would be suicide for major banks to promote one viewpoint and advise their clients accordingly when they actually held the opposite view.
Good article thanks. I wonder if people make the mistake of equating demand for gold and silver coins with demand for gold bullion for good delivery. If the mints can only make a fixed number of coins per month, then the supply squeeze is going to be in the minted coins themselves, not the raw material (bullion) that the mints need to buy to make the coins? Perhaps why dealers are selling coins for 30-40% premium over spot?
To be clear, I am bullish on gold and silver prices in the next couple of years and hold quite a bit. Paper prices will catch up, just a matter of time. Good for ORR.
Can someone please explain how NM came to have this vendetta with CGP anyway? What's the background, other than he would have liked to own their remaining 15% of ENSA?
Maxit Capital (Bob Sangha) is CGP's advisor and major shareholder, but I'm pretty sure a few years ago Maxit were working for Solg to facilitate an equity placing. What's the story with Maxit and Solg as well?
Was there some previous Mather company that some of the CGP "crew" fell out with Mather over?