Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I think we should all make an effort in favour of the green transition, and filter more people on the BB so that more green appear and we transition to a better conversation.
I can see that the BB is increasingly confusing fantasy with reality.
There are no auctions, there is no kicking out SC (this year at least), there is no alternative strategy at the moment whoever runs SOLG.
If you don't understand the strategy that has been explained ad nauseam you should not invest in the company. Besides CEOs do not control the share price, they control the strategy and strategy is only one factor affecting the share price.
Given the illiquidity, we have a first drop to 4p and a second drop to 1p if further instability is added to the SOLG equation.
If you rock the boat, prepare to drown.
Cut-off grade is perhaps the simplest way to understand the economics of large, low grade mining operations. This is the grade above which a particular mine is profitable. Freeport-McMoRan Copper & Gold Inc. is the world’s largest, listed copper producer. It has operations in the America’s, Indonesia and Africa. It also happens to mine some of the lowest copper grades in the world.
Cut-off grade depends, inter alia, upon the processing method used. Freeport uses three processing methods at its open pit operations in the Americas. Milling, crushed or agitation leach, and run of mine (ROM) leach. The lowest cut-off grade for milling is 0.18% copper equivalent, for crushed leach 0.12% and for ROM leach 0.05%.
From: https://marketcap.com.au/large-low-grade-copper-gold-deposits-how-low-can-grade-go/
Forte, I am not sure what changed in you, but perhaps instead of vomiting negativity on a BB you could pick up the phone and talk to Scott himself, ideally before the AGM, then you could at least developed a more balanced view.
None of us likes to wait any longer, however there is simply no desirable outcome from kicking Scott out at this point in time.
Gino, I think that the statement that there are 41 days to Christmas is the only indisputable fact that was posted on the BB today, I would not call it a low!
Was doing some boring reading on Equity Risk Premium (ERP).
Interestingly, dividends and inflations are the two most stable components of equity returns, followed by earning growth which is moderately stable. What is really volatile is P/E (contraction and expansion), which is a reflection of sentiment and investor expectation.
SOLG does not have earnings or dividends being an exploration company, and so apart from inflation, which is an externality, our price is heavily driven by sentiment. When hole 5 was announced, sentiment ran really high for example. When majors decided to not invest in new mines and rather cash in the high commodity prices and pay dividends, a junior like SOLG (and many other I sadly have in my portfolio) has dropped to the bottom.
Yes we are event-driven and the price can change in a day, but overall our price is a reflection of the wider sector low appeal with investors at the moment.
As I calculated and posted some days ago, just based on sector sentiment we could be repriced to about 20p and no one could pinpoint a SOLG-specific reasons for it.
GLA
When they say "time is a healer"...
I think time is having the opposite effect on this BB. The longer we wait the more obtuse or confrontational some entries are.
Considering we are possibly all here to make money, the infight is the most useless behaviour.
We can just accept that we made the investment at some time at some price for reasons or predictions that belong to each of us, and just because the outcome is not what we expected in whatever time frame we had imposed on ourselves, it does not make that decision right or wrong, it does not make anyone else decision right or wrong, and it has no bearings on the outcome itself?
Come on, 41 days to Christmas, let's be merry!
Thank you lcwanderer, interesting find.
Compared to the other project in the list I think we can all see in plain daylight why this is a tricky company to shift: lower IRR, larger Capex, longer time to market, country high risk (although most in the list are actually).
So actually, it validates the idea of creating a smaller PFS and by inference the credibility of the team that is working to deliver it.
I can see why you will go to the bin pretty soon....
Minute 47, also a worthy mention of the Lassonde curve and how the newscycle during the orphan period tends to be bad.
On the other end of the spectrum, the rest of us doesn't even know what it doesn't know, otherwise we would not be here, pathetically complaining about SOLG in an anonymized BB after having invested a fortune in its shares.
One really needs to stay humble...
Https://www.primicias.ec/noticias/economia/apagones-electricidad-demanda-aumento-sectores/
If I may, during its history, SOLGs share price has been correlated to gold, at some point I calculated up to 0.84 correl.
Right now, as Fort said, there is no correlation. For the last 12 months I calculated 0.003 correl.
I think we just need to accept that the corporate events are just creating a medium term stress on the share price. Or not accept and sell that is.
GLA.
@Padmaster, the article is slightly ambiguous even in Spanish.
If you read it literally, on the surface it sound like Solgold is saying that it discounts the option of a sale (as in Solgold does not want to sell), but I think it just wants to clarify, clumsily, that Solgold is not selling at this time because there is no buyer at this time.
Oh well, I think we might be stuck with each other and the toxic ones for a while longer then....
I don't wish to pontificate here, and I would be in no position to do so anyway, however I observe a fundamental misunderstanding about the relationship between corporate strategy and relative activities, and the share price.
The dynamics of corporate activity and share price are unusually decoupled, each driven by its own drivers, so it's impossible to pass a credible judgement on one based on the other.
Given that the IIs are all already positioned so they are not signaling a strategically bullish or bearish sentiment (bar Berry St but that was a different story), the trading volume is low, the company has officially committed to a review process that takes months and creates a vacuum of relevant news in the short term, the price is currently governed by traders and speculators.
So take the low price as volatility and opportunity, pick your level if you want to start a long position or buy more, but don't fall into the trap of thinking that the current price is representative of the SOLG value.
Having said that, personally in the current situation I don't think the price can objectively be supported from a technical point of view at any meaningful level except 3-4p and then 1p. I see nothing between 3p and the current price that can act as a support, so I am not buying or selling, but rather wait to see if we bounce or otherwise ready myself to upsize if the price gets really stupidly lower.
GLA
@Tesla1, off topic, by any chance do you or did you work in the wholesale brokerage business, the likes of TP ICAP, BGC, GFI, Tradition?
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Forte, you are obviously a very smart chap and you do a lot of research.
So it comes as a surprise that you can display such cognitive dissonance, you would be voting to destroy the most likely chance of getting the outcome you are looking to achieve.
Unless you think that BHP or Newmont or anyone else a) would now show their hand, b) would show their hand at a price that management would recommend we accept, c) we shareholders would accept.
Since no one has been stopping anyone from bidding, the only explanation for not having sold yet is that the possible buyers are not looking at the same price level that SOLG's management want to achieve, given the size and quality of the resource and the country risk.
So effectively you would be voting to say that you are happy to sell for a much lower price. If you think it's a great idea, then why don't you gather shareholders consent and then go to Scott and suggest that he puts a FINAL SALE sign with a 20p price tag?
Not trying to antagonize you, but I really don't get you here.
My real grudges are with management at OMI and ECR, by comparison SOLG is a walk in the park!