Member Info for Strider4

to consider that a placing price is the floor. It sometimes is, and often isn't.

Not sure about that Cookie. I think there is a news blackout on anything Alpala related (i.e. anything that might make CGP happy). I also think that there is a blackout on the regionals, pending permits...(today's release cannot be the sum total of 8 months work in the field by50 odd geos, or however many it is). Funding for the company falls outside both of those categories, so I see no reason why NM would delay, especially since the longer the delay, the weaker the balance sheet looks, and therefore the weaker his bargaining position.

I imagine that he will be in advanced talks with several instiitutions. There will be no shortage of interest, I'm sure, but they like a discount. It's generally only the big miners that will pay a premium and I seriously doubt that NM is going to give any more of the pie away to BHP, Newcrest or another major, given the current standstills.

Cookie, no chance - I have it as a placing anytime now.

1) PEA (certainly short-term).
2) Material upgrade in the size of the resource at Alpala.
2) Drilling permits for the regionals.
3) Serious corporate activity (including conclusive resolution of the CGP offer...not happening soon).
4) Cash - SOLG need some more soon. When that's out of the way, it removes a barrier to share price appreciation.

Updates on the regionals and the like, as seen today, won't cut it.

OMER, you can try and find another broker that charges lower fees. For example, Share Centre is £4.8/month (at that rate you get a fairly awful commision. You "get around" it by paying a "frequent trader" fee of £24/quarter...but if you never trade you can just get away with £4.8/month). It would be worth you doing some research into different reputable brokers to see who offers the best deal for your needs.

When you've picked one you can get them to send you a transfer form. Fill out the details, saying that you want to transfer your SOLG shares in tact. Bob's your uncle - no need to sell and rebuy. The catch is that you won't be able to sell them while they are in transit - which could take a couple of weeks. As you intend to hold for the long haul, that also shouldn't be a problem.

Fair play that you even apologised. Much worse has been said on here by certain regulars and they are not only unapologetic, but they think that they are justified in being rude and abusive. Suppose is must just be in their nature. Go figure.

Given the recent behaviour of certain regular posters on here, I would suggest that's one of your better ideas.

Bobtree, glad you brought it up:

"WE have peeps on here proclaiming how wonderful Orm is but..... they appear to have made NO PROGRESS since starting their Commissioning in FEBRUARY! They have produced and sold ZERO."

And yet here at WRES you just watch how smoothly the commissioning will go. They'll be ramped to the max in a jiffy, making more profit than you can throw a stick at and the share price will be 2p by Christmas, right K3?

The issue here is that the placing has left somewhat of a sour taste, regardless of what some might say. The whole process won't be finalised until early October (bonds), and then what? The long build process continues. And then if there are overruns...a top up placement may be required (unless they can pull in some more debt).

What is going to catalyse the share price in the meantime? Nevermind if this 10 year bull market finally comes to an end - they all do at some point.

What so every opinion has to be qualified with an "in my opinion"? LOL

Imagine if we had that rule in daily conversation...it would get ridiculous rather quickly. Self-evidently where comment deviates from absolute fact, it does by definition fall into the catch all territory of "opinion".

Brasso, remind me how long into the 3 year exploration programme AAZ is? Yes, that's right it's 1 yr. In that time have they even found let alone developed a new mine?

I don't doubt the quality and commitment of the AAZ management. They are not however superhuman, and these things take time.

Is my comment on the gold price also covered by your blanket "not true" comment?

any sense on here, as far as I can see, is Addicknt.

All the rest is noise, rampety ramp. Sickening really. Newbies, beware. This is a 1 and an 1/8th trick pony. The 1 is for Sonora, and the 1/8th is for Zinwald.

For the 1 to progress, funding is required. This has been the long and the short of it for well over a year now. That is the sole reason for the drop from 100p. Now why would this fact result in a rise, whereas previously it resulted in a spectacular drop? Speculation, pure and simple. Traders are making a quick buck and the retail punter will pay for it.

How on earth they are going to fund the thing now is a difficult question. Normally there would be a sig. component of equity, but that just doesn't look feasible at this mcap. It would almost be one of a kind if it got full debt funding, especially in this climate, where explos are well out of favour.

Those in for a takeover, are just straight up gambling. You could see 60p, but equally likely you could lose your shirt. Not good odds.

Troajan, 7 million shares (sold) only equates to £35k, so they didn't do very well offloading much of their £500k! More likely to be retail punters thinking they've got themselves a bargain.

Ref Colin wanting the moolah to get this thing going...he's been given a very long rope historically, and perhaps belief in the Bird is at a low ebb.

Augustus, I'm almost certain that the placing shares could not have been forward sold...who was doing the buying if they were doing the selling?

The share price barely has the capacity to soak up £10k without tanking, let alone £500k. When you put £500k into an illiquid small cap, you're in for the long haul.

Why would the placing shares at 0.5p cause a drop to 0.42p? Placees ain't going to be selling their brand-spanking new shares at a 15% discount 2 weeks later!

Tern and EML - yep if you fancy getting spiked while others offload, sounds like a plan.

Green light company on all fronts with the exception of:

1) LOM - clearly this is a matter of some urgency, as it will take them at the very least 1 .5 years to find and scope out a new commercial mine. Then add another year to develop it = 2.5 years. Cutting it fine. The explo is absolutely key here. IF they can find another serious deposit then the pressure is somewhat off, as there will be some visibility (still need to permit and develop it but still...).
2) Gold - downtrend confirmed still in tact yesterday after the FED update... 1250 could prove a turning point though which isn't too far off...plus AAZ is fairly insulated with an excellent AISC.

Understood, and it sounds a fair strategy. However, the week ain't up yet...you're going to want to see the week close at around 17.5p to 18p then. Hence, why you're on here ramping it to high heaven!

If it closes the week below that level, then it's pretty bearish in my opinion, as that will be major support broken on the weeklies.

Not sure I follow, from a TA perspective, how anything below major support is a buying opportunity?! Once support breaks, it becomes resistance, as I'm sure you're aware...Support hasn't broken yet...but it looks extremely likely given the action so far today.

From a fundamental point of view this is now a news vacuum (sig. share price moving news that is), with plenty of time for the dust to settle. The financing doesn't even fully complete until Autumn, so that adds to uncertainty.