Member Info for TheItalian

I don't even want to contemplate what this BB would look like on the 20th July, if the 19th comes and goes without an update...

And to answer Sid's question, as a CEO I would have not done anything fundamentally differently from SC to be honest. Where I differ, being an investor and not a manager in the company, is that I treat it as a trade and as such time is value as much as the price, so after so many years I would happily sell at a lower price and move on, rather than waiting and hoping for the valuation multiples of a production company.

I understand why, as a manager, the opposite idea works, a successful exit being their life's work.

But even then, I am not sure that SC putting his face out in the open when BS made such grand statements and then delivering nothing fast and smart, and NM stepping back to let them both work without getting a return yet, and the existence of various investors and other stakeholders who will have their own agendas, all in all is conducive to a serene and confident environment at the top of the SOLG foodchain.

I am still very concerned.

I didn't say that the fighting is ongoing.

It's not a question of missing signals IMHO, more a question of how we read those signals. The low price, the bid that never came, the political troubles in the company, the all point to the fact that the investment opportunity was not as strong as we often assumed, otherwise the price would be higher, we would have buyers and everyone in SOLG/CGP would have been singing Kumbaya instead of fighting each other.

So what is left is what the company has repeatedly said about derisking (SC), Plan A vs. Plan B (DC and NM). We build until someone comes up with an alternative, there is no other strategy at present.

Jiangxi bank insolvent, likely has been incorporated along with other insolvent Chinese banks into a new lending institution. Financial engineering Chinese style.

Our investor is not Jiangxi Bank from a legal entity point of view, but its conceivable that our investor may be on hold in terms of its own funding if indeed that came from Jiangxi Bank. I suppose we will never know.

Add, I have just added another couple of useless posters to the filter, the chat today looks very promising, you should try it!

I am playing with the SOLG chart to spot any interesting patterns.

Looking at the weekly chart, which I often find to be the sweet spot for SOLG, it just hit me that between mid Feb and mid Apr we had the highest trading volumes in years, looking fairly similar to the Q3 2016 volume spike that preceded the May 2017 historic high of 46.88, almost as if insiders positioned themselves knowing that there would shortly be a re-rate (me extrapolating of course, not stating as a fact).

The technical indicator that sealed that view was the 50MA crossing the 200 MA in October 2016.

Also, ROC (40) on a weekly basis is still negative, although its slowly raising. IMHO if ROC(40) is not in positive territory for at least 2-3 weeks we are just holding our breath for nothing here.

So maybe we should keep an eye on actual momentum to see if the market is reacting to any news, rumours, or lack of, instead of the usual fantasizing about imminent bids, funding packages in tomorrow's RNS, and fantastic prices next week.

Best guess, and it's only a guess cross-referenced against the calculated periodicity of Elliott waves for SOLG's peaks, we are looking at October 2024 for the next peak.

I concur, not being a ramper or a deramper or a dreamer or a pessimist.

30p, +/- some is a medium term achievable price and even then an aspirational level from what we have been experiencing in the last few years.

...sounds like a Cruello rather than a Cruella...

For a good conversation, engage those with common sense who do their research and share facts and analysis based on facts.

For anything else there is the filter button, and it works wonders!

GLA

We will make it happen

Sorry for the typo...

Depending on what I drink I can come up with an even better romour!

We didn't know what Scott was going to present, equally we don't know what we are going to miss. No material change after all.

If we agree that the beneficiary of that negative pledge is FN, then it is reasonable to assume that the 10mln come from FN.

But as usual, unless explicitly stated, all we have are assumptions, reasonable or not.

A negative pledge defends the lender by denying borrowers the ability to pledge the same collateral to secure other loans. In other words, a negative pledge clause gives the lender a priority claim on the collateral in the event of a default by the borrower.

Thank you HfH, great article.

Among other useful pieces of information, it goes to show why there is often a cognitive misalignment between what we hope and what it takes to make money out of a company like Solgold.

On balance, IMHO it's a great time to stay long and be patient.

I would top up at these levels if I wasn't already horribly long.

GLA

Future Copper Giants

27 June 2024 – Asia House, Marylebone

Join us for an exclusive investor seminar focusing on the copper industry.

Kind reminder to RSVP: Anthea Suffell anthea.suffell@hannam.partners

Hannam & Partners is delighted to invite you to our annual copper event focusing on future sources of an increasingly critical metal.

The event will take place on Thursday 27 June at Asia House, Marylebone, and will feature presentations from leading developers poised to tackle the impending copper supply gap amidst the global energy transition.

Unfortunately I am attending the CMX that day, but if anyone goes and is kind enough to report back, I am sure the rest of us would be happier than to see green lines and mutual insults.

Cheers, TI

Subjectively, one might also argue that without all those RNSs, the price could be at 1p by now.

Just for balance.