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Tesla1, if your answer is address to me, I just want to point out that you are not one of the filtered ones.
Luckily, I am not in love with any of the shares or bonds or funds I have invested in, it's just money and my desire to be financially free.
Also, looking at the profits I have already made from SOLG since I first invested in 2014 and the desire to move on to a different asset class, I would consider myself more impatient than deluded at this point in time.
Do I know for sure we will eventually see a rerate? No of course not, but on balance given this share's historical volatility and the fact that 1) the entire sector is in an off-risk phase and 2) SOLG is in the worst part of the orphan period, I put my money where my mouth is and I am willing to run with this risk level, with a relatively favourable outlook on the next 12 months.
As you can see from my posts, I never really dramatize the ramp or the deramp, I am critical of the management as much as they deserve, my analysis is aligned to my position and risk predisposition. I may share some opinions but I don't tell others what to do with SOLG. In fact, all that matters is whether this trade is a win or a loss and either way it sits with me, same as your investment outcome sits with you.
Let's just be nice.
Considering the solution to that is available and it's the filter button, it's remarkably dumb that some keep indulging them with a constant response.
You can also refer to the FT, which reports a slightly lower forecast.
Personally, even the lowest end is highly desirable given where we are.
https://markets.ft.com/data/equities/tearsheet/forecasts?s=SOLG:LSE
Pad, that's how I learned to play drums when I was a kid, first the odd meters like Apocalypse in 9/8, or Dance on a volcano in 7/8, before I could play straight 4/4 rock tunes. Some say I even look like Phil.....
Paraphrasing 1974's Genesis:
There's something solid forming in the air, The wall of death is lowered in Times Square.
No-one seems to care, They carry on as if nothing was there.
The wind is blowing harder now, Blowing dust into my eyes.
The dust settles on my skin, Making a crust I cannot move in
And I'm hovering like a fly, waiting for the windshield on the freeway.
...and I have messaged Nick as well, in the old days he was gracious enough to respond when I asked him about SOLG.
For what it's worth, I have just emailed the company asking that they issue a clear and unambiguous statement and reassure the investors.
Just for balance, and while I would agree that he meant 2017, between Nov 2022 and March 2023, when the price was around 17p, there was a volume spike, so theoretically he could have been selling there.
On a personal note, with hindsight I find it interesting (and depressing) that in July 2017 someone I trusted told me I would never see again the price peak we had just experienced, but I thought it was impossible that we would not go even higher so I stayed invested. So I too feel I should have sold then. Great thing hindsight!
Thank you Dinner. So that would be unclear and personally I would then discount that after talking over SOLG, SC and BS will open the door to any risk of losing control.
Genuine question: is SC 100% actually up for a confirmation vote at this year's AGM or are we just talking about a non option?
Https://www.mining.com/adventus-salazar-delay-construction-of-ecuador-project/
This article gives you a practical idea of the groundwork required from mining companies to advance their projects, the bureaucracy and the variety of parties to negotiate with at each step of the way.
Even if (thankfully) SOLG was granted the 25 year renewal, unlike other companies that got blocked by the referendum, you can still see that SC's seemingly invisible daily grind is actually what is required to make Cascabel a digestible investment proposition. Who is going to deliver that if SC is voted out, just asking the impatient ones?
"Bad people can ruin a good asset"......rings a bell......
Right now 35p sounds fantastic.
Not sure what price corresponds to the 47p we had in 2017 given the subsequent dilution, but it must be thereabouts.
Perhaps another angle to consider, that might reconcile various aspects of what is going on with SOLG, is that the "strategic" outcome is in fact not a sale as we all hope, but rather a financing consisting of debt and streaming/royalties with some equity dilution.
If the majors have not been keen on splashing out 3bln and the current strategy has turned to a smaller kick-off project, it would sit well with a different way to finance Cascabel.
Now that would explain the need to have all the papers in order, which would not be the case if a BHP were to buy.
Thoughts? Could I be on the right tangent?
@addicknt, I think before we can answer with a yes/no, we should ask Scott and Bob for a clear and unambiguous statement about the current price freefall and the lack of clarity about the strategic review.
Even factoring in that there will be things they cannot disclose, if they are made to understand that we ask for that PRIOR TO THE AGM in order to decide whether or not to keep them of kick them out, then we can choose how to vote.
Personally, I buy what Scott says, +/- some, so my starting position would be a YES, however we can see what the effect is on the price so it's still not good enough by a large margin, and the more the price drops the more one needs to accept that the exit price might be a lot lower.
In essence, whatever the actions and relative timing to arrive at a viable resource, we still need much better communications.
Dinner, if those are the numbers, then my #2 action point might be a useful one.
I don't personally think they are being slow on purpose but rather because of may externalities, so hurrying them might make no difference, but one never knows, we could easily speculate on things that might be put in motion if there was a material threat to their position.
For one thing, if some of the shareholders were to vote against SC, which is in their rights of course, it would be a good exercise to 1) estimate the votes that will be in support of SC anyway to see if it's even worth bothering to vote against him, and if the numbers represent a credible threat then 2) reach out to SC and let him know that shareholders don't buy into the Q1 promise and want to see tangible progress before the AGM to better inform their vote.
Otherwise, I think that any protest vote risks being just a waste of time.
Personal opinion that is.
Whatever Eloro, enjoy your day.
@Sharket, my comment was obviously not in the spirit of "mine if bigger than yours", in fact if you actually read it, it refers to the different attitude of punters vs. investors. Eloro's comments denote lack of knowledge about corporate life, inexperience and impatience that are not in line with the reality of and understanding required to investing in a company like SOLG or the entire sector for that matter. That is ok when you just throw some pocket money to see what happens, less so if you are a 10 years investor with the long game in mind. Perhaps my sin is that I expected in good faith to have the intelligent conversations you mention.
Good luck to you and Eloro and everyone else anyway, money is money and we are all here to make more however much.
Thank you Monochrome, always enjoy Willem's wholehearted interviews. You should read his book, al lot of history to back up the money rest story he was talking about here.