Member Info for ToS1963

On another note, I sold HGM today. Would have put it in here, as I suspect other HGM holders might..... but felt I’ve got enough exposure here. A decision I’ll probably regret.

Yeah, agree with you all... last nights poster just seemed fishy to me, very similar style and phrasing to previous iterations of the same person I suspected, so I too just elected to completely ignore them. Became obvious I was right to do so. I just can’t help wondering about why they do it, or what they get from it. Possible mental health issues perhaps, so best to avoid confrontation. A definite case of more to be pitied than scorned. Must be difficult for the administrators, but restricting a new poster to one or two posts a day for a short while might help.

Recently (about 6 weeks ago) bought into IDE. Rapidly began to look like a dog, so sold out to top up here. Seems to be far more liquidity, and promise.

My take on this, put as simplistically as possible.
Very, very likely deal will go through. Guaranteed minimum £3. Might be slightly more. PoG largely irrelevant.
Very unlikely deal is voted down. If so, SP will be £3 minimum anyway. Possibly more depending on PoG.
Best case scenario... PoG rises substantially between now and vote..... £3 will seem too cheap, will have to offer significantly more.
Worst case scenario..... PoG crashes between now and vote..... they still have to offer£3.

It’s one of those rare events in investing.... a no lose gamble. I am in at under £2, so an easy decision to hold for me....l I am not offering advice. Suspect SP will hover at or around £3 until clarity. Taking broker fees into account, I will add if it drops below £2.90..... but don’t think it will.

Apologies if people believe this to be off topic, but I have been adjusting my core holdings to make them more Covid friendly..... one I increased quite a bit (for me) was HGM...... looks like it might be getting taken out for around £3. Seems a bit of a stitch up to me, but it’s still a good return for me. Anyway... back to Solg.... there should be a bit of “gold” money looking for a new home if and when this deal goes through.

https://uk.sports.yahoo.com/news/abramovich-sells-40-highland-gold-080639602.html

I’d hold based on the phrase “expected to be not less than” in the above article. We have still to be made a formal offer. The £3 is what is being paid for 40%. I think.

FTJNY.... we all have different strategies, levels and circumstances, needs..... I agree, this is worth way, way more than 40p, and I sincerely hope we all get it. I believe we will. However, it’s not for me to tell anyone else how to play this share. It’s been the biggest disappointment in my portfolio for too many years for that. Although I strongly believe NM will achieve way above 40p ( I don’t believe he’ll take it to production) I am also fully aware of the strength of the majors, BHP in particular, and the risk of him being out manoeuvred here. For that reason, I recently upped my stake at these prices in order that I won’t be too disappointed by 40-50p.

.... and from the same agreement terms.....

Under the terms of the new share subscription agreement, BHP will also receive options over 19.25 million SolGold shares which are exercisable until 25 November 2024 at a price of 37 pence per share.

So in theory BHP could, if they wish, up their stake a bit before then, albeit at 37p. They are not at a complete standstill.

Just reread the agreement when BHP last upped their stake, and I had forgotten this clause.....

(iii) Board Recommendations
BHP agreed for a period of two years (to 15 October 2020) to follow the recommendations of the Board of Directors of SolGold which are supported by an independent expert appointed by the SolGold Board of Directors to opine in respect of any proposed change of control transactions in respect of the SolGold share capital or its assets, and in circumstances where it is demonstrable that holders of 60% of SolGold shares (disregarding BHP) voting at a meeting or lodging acceptances are supportive of the particular formal proposal. BHP also agreed, for a period of two years (to 15 October 2020), to support capital change resolutions put to SolGold shareholders at SolGold's AGM affecting authorised capital limits and pre-emption waivers under the LSE rules, in the event that 60% of the votes validly cast at a meeting of SolGold shareholders approve the same and the pre-emption waivers are within certain limits.

So that made me think.... given the date given in the recent CGP release, do they believe they have BHP on board, but have to wait until after 15th October to allow BHP to vote with them? Pure speculation on my part, and I have certainly not seen anything to suggest it.... but the dates are a bit of a coincidence.

Coffee cup.... apologies if this is a naive question.... but don’t shorts have to buy rather than sell to close their positions?

Hi Rich3r..... any placing has the tendency to create new / different resistance levels, as short term tradeRNS looking to make a fast buck get cleared out. I suspect some of the recent 20.5p lot are quite happy with a rapid 25%. It’s all good though, as the sellers are being mopped up, and hopefully landing in more sticky hands. We could hit more sticking points along the way, 26.5 - 27p (33%), 31p (50%) etc. Although decent news and we should blast through those.

This board descends into farce. I blame the malt whisky.

... as an add to my last post.... I don’t believe funding news will move this too much. It will be a positive, so perhaps 25 or 26p..... but I don’t think the market fully buys in to the going to production story, so my own view is it won’t shift the SP significantly.

Dart frog.... nice post, so next week I hope SP will hold above 23p. That’s without any news. With half decent news, I hope for a lift up over 30p. It’s so seriously undervalued it’s frightening. That’s the positive view. The negative being it will drop again on lack of news, but still should easily hold 20p+.
Now the best case scenario is super drilling news, and/or a bid. Then I suspect the brakes are off.

Miagi.... I understood the rationale. However, whilst no one wants this SP to rise more than I, the very last thing we want is wild moves up or down before any material news. That can only mean one thing..... the day traders have arrived. This share has proven problematic enough without that. Furthermore, anyone who has followed this share for any length of time knows that “hold on tight” and “gonna blow” just ain’t happening without news. We’ve had a decent day. It looks like the SP will close up, and if the OP is correct, there is a bit of buying pressure. All positive. But nothing to get excited about for a LTH.

In the absence of an RNS..... no it isn’t. Define “blow”. No offence, but this sort of post just undermines everything LTH try to say on here, and makes sensible call out of uninformed decamping seem hypocritical.

Thanks BNC....even though I don’t follow your post 100%! However, even as a complete non chartist, but as someone who has followed this share for longer than he cares to remember, it’s fairly intuitive to me that 23p and then 40p are significant price points for Solgold, and in the absence of news - were I foolish enough to be trading this - I wouldn’t be buying higher or selling lower than those.

This is one heck of a rise today on no news.... is it just down to lack of available shares, and doesn’t take much to move this large amounts, or something else? Not complaining mind. As long as it keeps moving in this direction.....

Hi all, I have studiously avoided getting involved in any of the charts discussions to date. This is largely for two reasons
1. I am absolutely clueless about them
2. They seem to have a tendency to descend into abuse and name calling.
Anyway.... dipping my toe in the water here, so be gentle. Firstly.... if it were a science, or even a useful tool for predicting share prices, wouldn’t those smart folk at MIT have it cracked by now and have cleaned up? Secondly.... let’s assume there was something in it.... surely it only applies to stocks with predictable news flow, trading cycles, cash flows etc etc..... and certainly not exploration, news dependent, slightly speculative stocks? It really doesn’t matter what any chart says for Solgold... we are awaiting news regarding financing, drilling results, perhaps a bid or two, and whatever the SP does before those events is irrelevant? Thoughts?

Sorry wrong board