Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
They really are not doing themselves any favours with these tweets
Praised be the Lord, and let Solg be sold!
Great find Add, and proves once again that most of our pain is driven by the macro.
My humble opinion ( from SteveE60's message):
The only parameter that might suggest that we are at the bottom is the price being at the bottom of the long term declining channel (which I am sure you can all plot on a chart!). Other than that, we appear to be in a strong bearish mode with short term and long term indicators still not showing a reversal. On that basis I am holding any powder dry at present, even though I can see the very attractive call for entering the market at these levels, and if I was not already heavily invested I would probably start building a position from here, with optionality to average down if necessary.
The SOLG price correlation to CDXJ has been higher than the average in the last 12 months and is particularly higher in the last month, which might suggest that, using Warren Buffet's parlance, we are just being carried by the tidal forces of the wider market at the moment.
About the price being manipulated, of course it is but that is the very nature of markets and is amplified by algorithmic capabilities and especially for such illiquid stocks where speculation is particularly easy if you are committed enough, so I would not encourage any specific conspiracy theories. Is it possible that potential suitors are keeping the price at bay? I am sure they could but I suspect they don't bother.
I still believe that the SR links the technical plan for the reduced Cascabel with a financing arrangement, which in my opinion is why it's taking so long, I believe that in the background there must be a lot of back and forth about the various parameters that will eventually determine if the IRR is attractive or not. I had forgotten about Blanca, but in hindsight I think it makes sense that it comes into the Cascabel and SR picture if they can factor it in. Certainly as BBG suggested, if we get an RNS about Blanca before the SR is published it could be a very good outcome.
So as a result, when the relevant news come out, the price will move rapidly, and my price assumption is that we will have to be ready for a quick rerating with a spike materializing within 4-6 weeks, where we hold hope to sell if we want out.
Just my two cents, GLA!
I might be left with 20p in my bank account at this rate of price decline, but hey, it's been fun to dream of that 60ft sailboat!
Can you all just don't engage this guy? That's the only way to clean up the BB, and we would all be better off.
See, we can have civilized and actually informative conversations on this BB, if A) we don't engage the muppets, and B) when we respond to each other we stick to a mutually respectful tone.
It's not actually that difficult if we just make a little effort to be decent.
Thank you Snowman, good read, I would like to see anything 0.10c/lb or higher, which IMHO is achievable via a constructive engagement with the majors.
If the fair price, at the exploration stage is therefore around 4.1% of resource (not my 12.7%, ouch!), I can see why no buyers come out in the open. Solg made it clear over many years that they do not intend to sell at these levels, which makes me worry that after all they might try to advance the project to achieve at least a feasibility (8-9%) or development (10-20%) kind of valuation.
We might be here a bit longer in that case, sorry to even think about it...
Mog, obviously I cannot trust myself with numbers! Perhaps I should stop pretending that I know what I am doing when I play with money.....
I tried a very quick and very very dirty calculation taking into account also the 107mn inferred tonnes (see article https://www.mining.com/zijin-mining-invests-97-million-in-solaris-resources-for-a-15-stake/)
If I am not too far off, the ballpark is that Zijin paid around 12.7% of the total resource. You guys should run the numbers and share what you get.
Now, if I apply the same value to the SOLG resource as of the last official statement, I get a very ambitious but not entirely unattainable price of 102p.
Nowadays even a third of that would be something as far as I am concerned.
Sorry if already discussed. Did anyone here calculated by proxy what our valuation would be based on the Solaris transaction?
...aaaand Eloro has shown his true colours and goes to the bin!
@Otherncopper, your turn.
I would be relieved at 25p, and would enjoy the gravy for anything higher.
Fair value is much higher but if it was achievable we would have probably already seen the buyer come forward.
At some points news will pop up and we will go back to the best versions of ourselves, talking rubbish about boats and fast cars, which was so criticized but turned up to be better than what came afterwards from the recently appeared posters.
Rejoice, we know the same nothing we knew in December or last year, and we still need to wait until something out of our control finally takes us out of our misery.
GLA
Thanks BBG, but I don't see the group in Telegram, not sure why.
Morning. Anyone care to share the link to the Telegram group? Is it a different one from the existing one with 157 members?
@Texasminer, by all means no one is stopping you from disclosing your SOLG holdings, should you want to start the thread.
@NotMuchMoney, I have asked Solg, will post the answer if I get one.
On the topic of the relationship with the Ministry, Scott told me already that they work mostly with the non political staff, which is the same as before so there is a level of continuity, but as of the time of our conversation right after the Noboa appointment, they had had no contact with the new administration.
I had asked SOLG on what capacity Mr Tufford was talking about the company, and th8s is the answer from Chris:
Dear xxxzx,
Sean Tufford is working with SolGold and he is reaching out to those on our email list. The purpose of this is twofold. Firstly, to ensure that those on our list wish to continue receiving emails (as a number have been on it for a while). Secondly, Sean is checking to see if there any generally questions that he can respond to.
Happy New Year! All the best in 2024.
Chris