Member Info for seanhunter

Strides, by today it had dawned on me - as it seems to the market - that this offer is not what it seems. You know I sold yesterday, and yes I bought back in today when the price bottomed out.

I was very positive about SOLG yesterday too - just wasn't sure about this "offer". Now I think we can disregard it as some kind of clever move, bottomz prediction of a return to 38p is probably on the cards.

It was clear at the 35.6p mark that it probably wasn't going to really crash further because of the offer. I got out at 36.6 and back in at 35.6. A pretty penny.

Shippy on here spotted right away yesterday morning this offer wouldn't be acceptable to them... so why make it? Why indeed? Cornerstone management came out barking like junkyard dogs... No one can tell me NM didn't foresee this. Strategy at play here, definitely.

This offer looks more and more like a clever ruse to me on NMs part. He knows the Cornerstone lot are a-holes who will act unreasonably when offered something reasonable.

Methinks something bigger and better is afoot. Can I say I wouldn't want to be....

Strider4 I suspect as others do that the PEA may not be released as shortly as we think now - surely "our" PEA would indicate the value of Cornerstones 15% holding? That is a funny position and would be a weird piece of information to put out now, after the offer. So I think there's a bit of delay here till normal service is resumed.

I've cashed out because - although I'd love to be in if a t/o offer lands or the PEA knocks things out of the park - I've moved my portfolio into cash long term now, and I can't and won't afford to be in here for another slow decline to 20p (won't happen but I won't risk it).

The 35p-38p range of late has been an absolute cash cow, and if we stay in it I'll be back it, if it settles lower I'll be back in - all I'm doing is agreeing with bottomzup that the real short termers and recent punters might drift away until this current situation is resolved. PEA not likely until Cornerstone absorbed.

In a t/o case, the SP of the acquiring party normally drops anyway... but it really shouldn't happen here because a) it's not like buying a new house, it's like finally buying out the last remaining room that didn't belong to you but was on the property and b) we know the value of what we are acquiring is HUGE because we have the books.

Thus I agree with Shippy that 20% premium might not cut it for Cornerstone shareholders - they might simply smell a rat in the deal. Hence it could turn out a hot mess, short term - especially if someone else gets involved. Upside is, if our move makes Cornerstone looks valuable, well how nice does our 85% look?

Bottomzp I have to concur mate.

Long term, Cornerstone have been an irritating boil that needs to be lanced, and I can see SOLG a much simpler prospect for a t/o (or even jv) if we can swallow them up and end the side show. It BHP have hinted that's what they want to see us do, then it's the right move.

Short term though, it's a hot mess, and yet again when the future looked fairly clear - the PEA followed by a bidding war in the next year or so - Nick has thrown us a curveball. The markets and certain holders/traders don't like this uncertainty, or the many weeks of manueverings and manipulations that probably lie ahead, and I think we will drift back to a slightly lower range (32p-37p) unless we get some other gamechanging news.

Long term, right move though.

For the record I cashed out at 43.7p on the day of the BHP buy in, as I hope many long suffering holders did (eg. jimiley) as it was a great an obvious second chance of that exit point. That also marked my exit from the stockmarket altogether, as was my long term plan... until I couldn't stay out of SOLG any longer when it fell back to 35p.

In recent weeks, the stable trading range of 35p-38p has been irresistible and very profitable for me but again I'm cashing out today until the dust settles on this one. It's the first piece of news in a while that a negative spin could be put on. I do think it indicates that no t/o will come until this is sorted, and that will always disappoint the very short term punters. But for LTHs sitting on this, the right move.

Regulars on here will remember me as a very vocal critic of NM who almost lost faith completely at the 20p mark, but in the end he made me a lot of money and I hope to still trade and hold SOLG as I feel now it is as sure a thing as the stockmarket can offer - a copper bottomed golden investment (barring natural or political upheaval in Ecuador or a real global crash).

Shippy that's just Jimiley selling into the rise....

:)

*Pre-dilution* that should read.

Remember 37.5p per share is really 45p in pre-dilition old money so we are just about back at the May 2017 peak in terms of overall company value - that's a tremendous restoration of confidence and why I think we are steady at this level.

Further progress from here will depend on real news - either defined progress or (boom) some kind of offer heading our way, but I cannot see us slipping back much now.

The "malaise" that started with the Newcrest dilution in June 2017 and everything that followed has finally lifted and sentiment has turned back to positive just as fundamentally now - we can argue positives and negatives on this board (and quote people like AG (or even Warren Buffet) all day long but the BHP buy in really tells us all we need to know at this stage. Anyone left slightly confused by the MRE and the lack of SP progress despite the good results being added as the months went on needn't be confused now. :)

Gazshot, can you explain that a little more fully? You mean phone up this guy and leave instructions with him to sell your shares (regardless of who you is holding your shares)?

I'm with Hargreavers Lansdowne who have put a facility in place for selling ex-STEL now NWF shares but was unsure of whether you could leave a limit order with them. The spread is too wide and the recent SP has been too poor to leave simple sell instructions overnight.

Last RNS from the company was pretty decent but volume has been very,very low here compared to the number of shares in issue so I'm not sure if a realistic price is always what we see (to buy or sell).

Anyone else here sold and did they do it via HL and with a limit order etc?

Ah DG1 I thought you managed to lower your average to about 25p... but don't worry, those 40p+ underwater ones (I had some too) will be redeemed very shortly I think.

Though I repeat that (because of dilution) an SP of 37p actually puts the overall company value back where it was in May 2017, so although we haven't felt it as individual shareholders there has been a full recovery in MCAP.

I have been one of the negative voices on here for months - but that was because, without outside intervention, I could see nothing but a slow slog of dilution and price decline for the foreseeable future (Alpala initially wasn't earth moving and Aggy early results none too impressive).

But the BHP buy was precisely the type of outside intervention I was hoping for - and surely confirms that Alpala and Aggy are indeed viable, and Cascabel as a whole worth buying into. Changes everything as far as I'm concerned, and I miss joining in the chat here now that it is not just Jimiley and S7D8 and co. predicting doom for the sake of it.

I note wryly that AG in his last blog more or less admits he doesn't really know what he's talking about - obviously the BHP buy negates his negative outlook - just a pity he opened his mouth in the first place.

There's been a kind of lost 16 months with this share (it might have been avoided altogether if BHP's offer had been accepted in 2016, thus building in credibility) but we are back on track.

I'm obviously glad for myself (and grateful for the trading meantime), but genuinely happy for for and all the decent guys like Unic, shippy, lotto and many other whom I've disagreed or argued with... in the end we all want the same thing. Not quite there yet, but I'm absolutely certain the tide has turned.

GLA

Nice to see you guys bantering - at last - about how much money we are making :)

I was on hols when the BHP news broke, and was soon totally without Internet connection, but I did manage to add another 150k at 27.1p via my phone (thinking at best the BHP buy would provide a firm base there and at worst Nick might dilute us again but that we would be strong enough to bounce). That brings my total up to 207k and quite frankly I was utterly gobsmacked yesterday when I got home and saw the current price. I would hope now that all us regulars are above water? (Including you Jim - I said the BHP thing was a gamechanger).

It strikes me there has been 20% extra new shares issued since the high of May 2017. If you multiply the current share price by 120% it gives you about 45p... exactly where we hovered back at our peak last year. The MCAP bears this out - so although the SP hasn't recovered the overall company value has. That's why I think we are at some kind of ceiling right now - but just until the next breakthrough good news.

Ironically don't have much time or opportunity to post at this, certainly the most exciting time in the last 18 months here, but all that I can say is that things are looking good - the BHP buy averted the future dilution and continued drift I feared. Total gamechanger.

To you guys and all the regulars on here, well done, continued good luck to us all. A rising tide lifts all ships, and I hope we all continue to benefit, all of us, no matter how we clashed or disagreed over the months - apart from the obvious trolls (long gone now you notice?) we all want the same thing and are decent people I believe, so to all of you I say I hope this continues to go well - and from an impatient guy I send thanks to all you wise heads on here who urged patience as the months dragged endlessly on. A good crowd on a good board and success well deserved. Sean

Anyway why am I sitting at a beach bar typing on my phone? I'm going back to my holiday and perhaps a nice early cocktail is in order and I'll keep my dark thoughts to myself..

Listen guys, we have our differences, but overall a great bunch of people here, whatever unfolds will unfold, and perhaps soon, so the very best of luck to all of you, all of us, we deserve a happy outcome here. Sean out.

You're right Maybach - not outright hostile (and indeed the confidence boost has been massive for us) but look at it from Nicks perspective - here's one of our possible t/o suitors nibbling away and getting 6% for us for 26p.

Now, that is a worse deal for them than their previous offer (which was for 10% and included a seat on the board) but it's very positive in that they think it's worth it after whats been proved up in the 2 years since. For me, it has cleared up the doubt that followed the MRE.

But... but... think about Nick. A big boy has come up and took a bite out of his sandwich. Some might take it as a compliment that it's such a nice sandwich, some might see it as a good prelude to selling that sandwich... but we don't all react the same do we?

On your other point, as I've said, if we just get one good RNS dropped now as good as the last few, then in this current buzz of sentiment it might easily take us back over 30p.

Ha ha sorry Shippy, I'm just bugged by the feeling that we are not allowed to have nice things with this one - every step forward since June 2017 has been met with a curve ball (usually self-inflicted).

I suspect, if grumpy stubborn Nick regards this as a "hostile" incursion, he will react, killing two birds with one stone - raising more cash (he does like to sit on a big pile of cash) and clipping BHPs wings for them. Newcrest have anti-dilution rights, unlike BHP and us poor bloody infantry.

Hope not - good news is I don't think we'll have long to find out now (and I won't have long to fret about it) as this is starting to feel like an endgame approaching, what Highlander calls "The Quickening" lol.

Even Jimiley's stopped moaning so something weird, big and fundamental must be going on...

TheItalian, we can all predict the future after it has happened... but thanks for officially confirming that W3 has begun: the board can now go from fighting with trolls all day to thanking the chartists all day. What's "obvious" to you lies elsewhere for me - in the reality of what the BHP incursion signifies and how things might play out in the actual world.

Funny how after being silent all these months as we languished at 22p, the chartists are now back in force telling us how they predicted this, lol.... where exactly was the BHP purchase on the charts?

Looking good on real factors now... my only niggling worry is that NM may see this as a golden opportunity to 1) quickly and cheekily raise enough funds for an extra year and 2) dilute BHP down just a little bit to tweak their noses.

That would be a placing at about 22p... but I suspect, this time, for once, the market may look on it kindly and we would bounce back strongly, the cash seen as an asset in the current climate.

On a brighter note, given developments and the huge change in sentiment this week, I think an RNS with some positive news (news that BHP may already know) would now boost us up over 30p. GLA

Concur DG1Investor mate - hope this latest move has brought you up from underwater again? Definitely a turning point here.

Yes indeed mate, "As cunning as a fox who's just been appointed Professor of Cunning at Oxford University" as Blackadder would say.

That is cunning Nick - not stubborn, not grumpy - cunning, so don't ruin it for us.

Nice to see you on here Unic. Glad I made you laugh, But we will see... 61p... Not to be sniffed at :)