Member Info for Strider4

Mog, given the emphasis on standstill agreements, I very much doubt that NM is willing to let Newcrest up to a 20% stake. I also imagine that BHP would be most unhappy to see that as well. Does NM want to give BHP another 5%? Possible but unlikely given the emphasis on the standstill agreed only 6 months ago...he would have to be fairly desperate to bump BHPs stake up to 15% at this stage. That would leave 30% in the hands of big miners - NM wants to control how this goes down and not be dictated to.

If the money doesn't come from the miners then it has to be the Institutions I would have thought. Feasibility stage of the mining cycle, as our good friends from the WRES board liked to remind.

Thanks Novice - copy pasted from the RNS for convenience. All very re-assuring I'm sure.

End of Conversation....suits me.

:0)

Morning Pinot, yes well picked up...not sure why I would be invested currently, given the uncertainty.

That last RNS opened a can of it...

1) PEA delayed with no delivery timeframe offered.
2) The mine design and metallurgy are more "complex" than previously envisaged.
3) NM is continuing to pursue CGP, with still apparently little chance of success.
4) Long overdue updates on the regionals promised...

The argument of holders is that it's all part of NM's master plan - he is using the "complexity" of the metallurgy/mine design as an excuse to delay the PEA as long as he likes to facilitate the purchase of CGP. Now, if this is the case then:

1) he doesn't mind playing havoc with retail investors, as he would know the impact of said uncertainty.
2) retail investors can look forward to a protracted delay (months) of the PEA while CGP holders umm and arr, and the effect that will have on the share price will be detrimental, with the outcome is by no means certain.

Conversely, if the metallurgy and mine design are going to impact CAPEX and OPEX then that will have a materially detrimental effect on the NPV - again not great and until it is quantified, it remains a large uncertainty around the economics.

Still don't know why there has been a huge news blackout on the regionals for the last 6 months - news is promised soon though...how soon is anyone's guess. Is that the cherry he's thrown out to keep the price from tanking through the floor? Where are these drill permits? Q1 has been and gone. The drills have now been turning solely on Cascabel for 1/4 of the year and will have used up the allocated annual budget already. That means they are being forced to drill secondary targets to fill the time.

All this, of course, costs money and SOLG is burning about $10m a month. NM doesn't usually like to go below $50m in the bank (sensibly), and at the start of March they had $70m. Is NM really going to give a further chunk of the business away to Newcrest or BHP at this point, in order to raise money? I highly doubt it. That leaves institutions, and they almost always like a discount.

Yep, shaping up nicely...There is now a great deal of uncertainty. The CGP move continues, with little prospect of success. The PEA is delayed without a delivery timeline. The drills continue to turn solely on Cascabel moving into month 4.

PEA delayed - no time scale given.

Offer for CGP now formal.

Bradaboy, how long have you been following this company for?!

The PEA was due Q4 2018 originally I believe, then it was Jan 2019, then it was Q1 2019, and in the most recent presentation Q2 2019 was slipped in on one of the slides.

When MRE1 came out, slightly late, regular updates to the MRE were promised throughout the year as well. Never materialised.

So, spot on - SOLG are never late with their announcements!

Depends how you skin the cat. I have my support/resistance line on at 40.3 based on the action in 2017. The price has closed below that...

You're welcome. Hard to tell, but volume was good on the breakout. The fundamentals remain as strong as ever, of course.

RR, the short answer is yes that looks very likely. A hold at support would be bullish.

There's been a big wobble in the global markets at the end of the week, which has hit copper hard, so it'll be interesting to see how it plays out next week. It's not just the 38p level though - there's a large zone of support from 35-38p. I would be extremely surprised if the price didn't find some very strong and vigourous support somewhere in there, if it does indeed penetrate 38p.

Look, hopefully you're just pretending you don't know what I'm talking about...if you actually don't then that's worrying for a chart "guru".

Either way, you'll get no free lessons here.

Right you are, Mr Smart Money! xx

You know why - or at least I hope you do...

Classic stuff. Today's price action was bearish in every respect FR - have some integrity. The chart is strongly suggesting a further retrace is due on Monday.

FR, changing the topic there as per usual. You've not answered my question? Are you the "smart" money?

Just for you, I've taken a look at the 1 minute candles. That 3:44 (£60k) was a sell, and it caused a drop in the bid/ask, plain as day.

Now that's where you're dead wrong Cookie. You're mistaking smart with lucky (right place, right time). Punters get stuck on a share, you see them on every BB going - the odd one in a hundred come good, and those lucky punters actually think they are good at investing.

FR, we can't all be filthy rich from a fat inheritance can we? Who said I sold in 1 tranche?

Sorry to rain on your parade Cookie, but that was most likely as sell - check the time.