Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The only other connection to 37p is that BHP have 19.25m options exercisable at this price. Likely just coincidence.
Eish, I don’t think the 10p share price is a useful comparison because nearly every stock globally tanked at that time. Panic, not fundamentals, dropped the price. With that said, I agree with you - why not lower? The uncertainty alone should be enough to knock it back, but why isn’t it falling? Tbh I think I’d have a better chance at predicting what is happening with SOLG by reading tea leaves.
Guess we’re still not in the clear with regards to Coronavirus. Red days happen, but the general trend is still positive, globally.
With regards to SOLG, I am convinced someone wants the price kept at 37p. It keeps bouncing around that level.
Thanks for the input. Your other comment makes a lot of sense and given the low trade count, is likely the situation we’re in. It could very easily move quickly to the upside, erasing the losses from 65p+ in a heartbeat and my frustrations would be quickly forgotten! I think that’s the mindset to have.
I suppose my only reasoning for a “big seller” in the background is knowing that RG was offloading into the rise, and has only stopped reporting on his position due to being diluted below 3%. I am confident that it’s still him drip feeding shares into the market and keeping a lid on the price. That’s just me speculating of course, and whatever the truth may be, I find it hard to understand why DNL isn’t attracting more buyers.
It is frustrating. I’m holding for now. Sentiment with Eton seems very positive so once we get news of any Alkindi sales and this seller has buggered off, we should be able to break out from this slump.
Believe it or not I do know that SOLG are exploring for an entirely distinct material. I am making the comparison not with the type of material, but the situation where it might not matter how good the resource is if it’s so bloody expensive to get it out of the ground. I’m probably arriving at a similar conclusion to others here where a buyout is best for shareholders.
Thanks for that insightful response redknight1. Just joking. It was entirely unhelpful.
Probably going to get shot for saying this, but is there a risk we’re heading down a similar path to Sirius Minerals? From what I recall hearing about them prior to being bought by AA, wasn’t the main issue that they couldn’t raise the money needed to develop their expensive mine? Is it possible SOLG could be in a similar position, and this outweighs any positives that may come from the resource size and drilling results, etc?
Market shrugging its shoulders at every rns it seems. Either the price is being manipulated (cool story, but unlikely) or there is so much expectation that it’s going to take something incredible to get it moving upwards again. Also a little worrying when drill results are announced and some immediately start shouting about how it must be a new tier 1. I say the price is doing all the talking right now.
The price drops... Having a very tough time regaining any positive momentum, which is bizarre considering news has been very positive. Sell the news I guess. Someone is keen to exit and for some reason would rather drip sell and continue to knock the price back rather than arrange a large sale with an interested party (of which some much surely exist?). Bloody typical.
I never really post here but am in Solg. Is this kind of activity worthy of an FCA report (not that they’ll bat an eye)? I seem to have read this time and again about large quantities on the offer appearing and stopping the price from rising. It certainly is having a tough time breaking out. Of course selling is all part of the game, but I’d wager that these offers may be appearing to keep the price suppressed. That would certainly make sense, but is also very manipulative. No proof of course and pure conjecture.
Some chunky buys in quick succession today. Would love to see the momentum continue and get out of this sideways trend. Let’s hope they don’t just hit us with a placing...
To hazard a guess at my own question, I’m going to assume they’re not identical classes of shares with the same voting rights etc? Other wise this is one hell of an arbitrage opportunity. Clearly I’ve missed something so please clarify if anyone has the answer.
I’m anticipating a blasting for missing something obvious, but why is the US price up 4% at $4 a share (£3.10) and down 11% in the UK at £1.28?
Looks like it wasn’t RG selling after all. He’s just been diluted to under 3%.
You’re probably correct with regard to how they acquired the shares, but I expected the tr-1s to explicitly state this in the “other” category of “reason for the notification”. To me it looks like they bought in the open market. Either way, hopefully it inspires confidence for the rest of us.
As for sellers, when aren’t there any?
And now Polar Capital have increased their stake by 1.05%.
I’d like to thank Woodford for having to sell and pummelling the price, allowing me to buy at these silly prices. Despite the overblown negativity around the collapse of his funds, the man can pick stocks. He was forced to sell gems like this one far too early.
I know these sorts of comments get posted all the time, and it’s widely known that the trade reports can be inaccurate, but I suspect a lot of buys are going through at 57p, as that’s the price I topped up at earlier and it’s showing as a sell. Board still quite here, which I like. Under the radar and 2021 should be a very interesting year.
Oldapache, easy there. I assure you this was no “de-ramp” attempt in the slightest. By all means correct any mistakes where you see fit, but please don’t jump to conclusions about my motives, based on my pre-coffee, Monday morning brain fart. The main thing that puts me off even posting on these boards as often as I’d like, is that you seemingly cannot engage in any dialog for more than a few minutes without some keyboard warrior getting their knickers in a twist because they’re so incredibly protective of their bias toward the stock.
raaydaar, the 50% drop assumption was pure nonsense on my part. Didn’t think that statement through.
busymumof3, I’m just gauging sentiment, not asking for direction. I appreciate that you don’t want to talk about your own plan.
Cheers.
Also I think I assumed wrongly that a 1 for 1 split would result in TILS shares halving in value. Book value of Stem is just over £3m so the drop should be much smaller.