Member Info for ssmith_trader

Not sure how you can make a big bold statement like that and say that NM has outplayed NCM... just look at the share price of SOLG. It's also not as if NM has come back with more positive drilling results. If anything, NCM have played it well. They didn't take part in the placing (unlike a few shareholders here) and the share price is STILL lower than 21.5... and if true they'll be getting a bigger shareholding through Cornerstone and be able to stick it to NM.

engulfing candle coming up.... v bullish!

Quady not sure what you're asking. A combined bid by NCM and BHP would have minimal downside impact to their equity, regardless of their current shareholding. The big win for them is they get rid of NM and divi up the assets between themselves.

Conclusion fro all the comments is that SOLG gets bought out, anywhere from 40p to 80p (max I would say) and there are only a few months left for something to start happening. Not a bad trade from these levels (assuming you start buying and scaling in today).

TBTT similar to discussions that have been had on $SOLG handle on twitter where Irwin made a few remarks. I am pretty sure he knows more than any other investor here about what NCM and BHP are thinking re: NM. The last raise was just that.. to get funds to start drilling and come back with amazing drill results. While in all likelihood they exist, NM has ran out of time. The 40 - 60p sounds plausible and is how I hope this turns out.

The $SOLG handle on Twitter provides a far more plausible scenario as to what is going to happen here vs what many of the baby bloomer commentators here think will play out. NCM buy out Cornerstone = increase in their holding in SOLG, then come the lockoff, both BHP and NCM bid together and take out SOLG for the cheap, with the percentage holdings they have combined and with retail backing, they'll get this through. I doubt this will be anything above £1 that some holders state simply on a DCF valuation of today and ... more likely around 60p. This last raise that NM did was to expedite drilling results that he hope's will be good.... he's left this all too late. NM has soured relationships from both NCM and BHP. Next step is a hostile takeout which suits me just fine. Anything around 16/17 level I'll buy back what I sold higher up. Let's hope we're even given shares in BHP or NCM who have better management and expertise to take mines to production.

redknight.. you really need to learn about how the markets work. No idea how your portfolio is.. but i doubt it can be any good. The private investor was himself. Neither BHP or Newcrest bought in. That is saying something very loud. And to say this gives private investors a chance to buy in the placing is bull. This now trades sub placing so I guess if you bought in, you really don't know how the markets works because you should have just waited. Regardless of where you copied and pasted that text (you obviously believe everything you read.. fool!) ... the fact is, the brokers would have stabilised the price and bought in. They are now selling those shares that were not all taken up.. gold price up and SOLG down???!! Price speaks louder than my words or yours.. you are simply wrong. I am glad I sold a chunk when this hit 30.. wish it was more.

More than likely these are the brokers who supported the deal and bought the stock to help stabilise the fundraise. This can easily carry on for weeks as I doubt this was actually that oversubscribed (especially seeing as Newcrest and co did not participate). I expect this to go lower in a sell of in the markets (it already trades pretty crappy in a bull market) and then there might be a trade. Right now no need to buy.

I am pretty sure over 80% of holders here would have been / would be happy to be taken out at the last price that BHP bought in at. Discounting the price for Alpala, it 's about right. At least then it would have freed up funds to have bought a number of the tech stocks and bottomed out industrial stocks that will pay off handsomely, and I'm pretty sure SOLG will still be under 30. NMs ego has definitely got in the way of paying people handsomely. He has zero expertise in taking this to production. He needs to go.

Pretty much every mining stock up besides SOLG. Shows why NM has to go. I think he's become delusional in his quest to take this to production. I really hope this gets taken out with better management intact.

dumping of placing stock. Don't blame them. There's a trade here, but it won't be for a few weeks. NM = Shockingly bad!

Agree Richy, every time you give him the benefit of the doubt he does this. I sold what I bought just below the placing price. No need to bottom pick this stock - much better investments elsewhere that are recovery plays on the economy. I hope SOLG gets bought out, even if it is at a low level and we are able to move into another share with better management.

colonel, I too read that ... but no II is going to go through primarybid. SOLG would have shopped this around and they would have gone straight to SOLG to get shares... and definitely not primarybid.

primary bid is meant for retail investors not II.

this placing was leaked... hence the sell off these last few days. I was definitely not expecting this equity raise so soon... explains the webinars. I bet he doesn't do any now for a while. This will open down... price action will dictate whether this is relief or not. There had better be director buys tomorrow

Cheers Broke. Those comments were actually a good comic relief. Many different patterns that can be applied to that theory hence the question. We also just nicely bounded off 220 day MA. As long at that holds then the next wave is the one that will see us break 30 and head towards 40ish. I bought more on this leg down just now. Let see what NM comes up with over the next few weeks!

Any wave theorists on here? Is this completing a wave b?

convertible guys do it all the time. It doesn't have to be CGP the entity, it could be any of the large holders

Makes total sense that CGP are selling SOLG shares. I would, especially as NM keeps on saying that he is going to bid at a big premium for CGP. Would explain the vwap orders. Would make even more sense if it was a Canadian broker selling the shares (I can't see who is on the offer).

Colonel, not sure you understand how market makers work. No one in their right mind as a market maker is having a position in an liquid stock like SOLG. If they did they would be fired. MM are there to facilitate orders. They will execute the order on vwap or limit instructions from the client. This price is telling you two things. 1. there is a seller out there 2. there are no buyers at these levels (i.e. no interest) and using vwap, with light volume this will go lower. Seems the seller is using a 25 limit to sell out. If the market falls, pretty sure that limit goes off and this goes to 22 fast.