Member Info for ToS1963

Only have three shares I regard as “punts”.... albeit researched ones.... vast majority are blue chip dividend payers. At my age, I’m aware I don’t always have the time or patience to see speculative small cap stocks come to fruition. Not only is this one proving to be the best, in these times it’s underpinning the blue chips! Anyway, really believe this will go much higher in very short order, and if I wasn’t already in would still buy at today’s price. Although the Covid crisis is a terrible thing, ruining the lives of many people, and trashing most stocks, it has played right into the hands of this one. As they say, it’s an ill wind. I’d set a partial exit price of 8.7p when purchasing, but am considering removing that sell order and keeping this one for the long haul. Please, don’t consider this a ramp (although I agree it reads like one) but without trying to sound patronising, DYOR. That’s a cliche I know, but usually there’s good reason sayings become cliches. There’s been a lot of good information on here recently regarding the reasons behind the recent dip, which although this didn’t concern me too much, it was reassuring to read. Good luck everyone.

Phat.... good post I agree with, but there may be a danger of a gentleman’s agreement between BHP and NC, if perhaps along the lines of BHP standing aside elsewhere for example. If NC can be persuaded to support a lowball BHP offer, let’s say 45p.... that would leave BHP with 23%, they would only need 1 in 3 of the remaining shareholders to accept, whether NM likes it or not. If CGP come on board, alongside many of the recent new 21.5p buyers (over doubling their money) that leaves us vulnerable. Don’t believe for a second. 45p offer would be accepted, but it’s not a risk we can ignore. Every dilution at a price far below what we would accept increases this risk by creating more (potentially) short term traders.

This feels plausible. And if they did, without the recent issue, they would have held 28.55% rather than 27.2%.... which is pretty close to a mandatory offer position. Well, I had the calculator out anyway. In those circumstances, the recent placing makes sense from a defence point of view. I was previously mystified by it. As you know, I’m not known as the biggest fan of the board here, and whilst the money will be useful to keep the drills turning, the reduction in BHP and Newcrest position.. especially when you combine them... seems a more rational reason to me. Maybe NM is playing a blinder after all.

Must do some research. This sticking a pin in the financial pages isn’t paying off for me. At least not quickly enough.

Pinot... apologies if my dates are out, I didn’t check back. Stand by my point though, regarding the drilling / results / SP rise / fundraising SP fall cycle we seem unable to break out of. Now that’s what I call repetition Ice!

BrokeNovice... yes, I believe if we make another discovery, the SP will rise as it did last time. Here’s hoping, and for what it’s worth, I believe we will. Whilst I’m a far cry from a geologist, it seems to me that Ecuador is awash with the stuff. Might take a shovel out there myself and try my luck (joke). However... and at the risk of a repetition remand from ice..... we also need to progress these discoveries to the next stages more efficiently in order to protect the SP from just slipping back, as it always seems to do. That ensures both that the shareholders are kept onside, and it’s also the best way to protect from a low value takeout.

Yep iceberg, fair enough regarding repetition. I think that’s a far cry from trolling; abuse and name calling, now that’s trolling. But there’s an awful lot of rose tinted spectacles stuff on here, there has been for years. If posters continually try to shut down alternate views to theirs, all that will be left is a forum so stacked with confirmation bias it will cease serving its purpose.

Iceberg.... sorry if I overlooked or most defining achievement to date, and at the risk of sounding mercenary, what impact did that have the SP? I think we need to strike a balance here.

Iceberg not sure what you mean by persistent thrashing of the share, and you may not agree with me, but the points I make are far from groundless. Share price was 39p plus in October 2010 after a huge surge on Cascabel drilling results I believe. 10 years ago. Think about that for a moment.... 10 years ago. So I am not holding my breath here, nor am I going to get excited about drilling restarting. I’ll start getting excited when we start trying to realise our assets in one way or another.

Inclined to agree with Zoros. The situation we are in now, looking forward to drilling, and regular drilling results, is exactly the same situation we were in 10 years ago. When the share price was higher than it is now. We can prove up as many sites around as we like, and keep going until the hills of Ecuador resemble Swiss cheese, but until we sell anything, are taken over, or start pulling up copper and gold, nobody is going to make any money here, unless they are trading (which I am not).

Pretty much Dreamboatwarrior! However, I am not overly concerned about any low ball offer, as I don’t believe this would get shareholder approval. That said, I’ll reiterate my position that I would far rather see the board focussed a lot more on providing shareholder value within a reasonable timeframe, than all these shenanigans. To do that, I think they need to be more positively engaged with Newcrest and/or BHP.

Hi Marginalgains... I see you, like myself, are relatively new to this board. I must confess, your posting history to date hasn’t been stellar! So far, in 6 posts, you’ve said
1. No wonder this share has struggled
2. Stay clear
3. Why invest
4. Another genius turns up
5. Down to 21p or lower
6. What happened to the swift move to 23p

Now you must realise that most of the posters are invested here, and that the above posts could be described as antagonistic at best. Save for your comments surrounding the effect of Covid 19 in Ecuador, you have provided little by way of research or rationale for posting. This board has frequently descended into name calling and abuse, which ruins the forum for all. There’s no excuse for that kind of behaviour, but continually posting in an antagonistic fashion doesn’t help. Personally, I would have to question your reason for doing so, but it’s a free world. But please, if you feel inclined to comment on Solgold, or wish to warn us about any serious matters which you believe may have a negative effect on our investments, could you try to do so constructively and with sources/research to support your arguments? Thanks!

So if shares hit on 12th, they’ve got until close of business Tuesday.

I think they’ve got 2 trading days to do it.

https://www.srz.com/images/content/1/4/149202/SRZ-UK-Shareholder-Activism-Briefing-FCA-Rules-on-Trade-Reportin.pdf

Lumina have announced increased mine life in Ecuador. Good paragraph regarding “substantial progress in the mining sector in Ecuador”.http://www.canadianminingjournal.com/news/gold-copper-lumina-gold-adds-9-years-to-cangrejos-mine-life/

KB007.... now THAT I agree with!

Solvg.... was posting when you posted..... I’ve now seen both 3 months and 12 months in my limited research. (And the links ive posted contradict each other). Anyone know for sure?

Addicknt.... I truly, genuinely, no ill will intended, fail to understand your last post. The meaning of my original post remains crystal clear to me, and the meaning of it is unaltered by the removal of the word “only”. Suggest for the benefit of the board we just leave it there. Interestingly, (well to me at least!) takeover panel suggests it’s 12 months..... so if any poster can clear that up for me, I’d be grateful!

https://www.thetakeoverpanel.org.uk/the-code/download-code

In fact addicknt, I’ve just now reread the entire thread on the matter, partly to satisfy my curiosity, partly because I feared senility was kicking in, but mainly because I was horrified that I may stand accused of being deliberately deceptive. I am quite pleased with what I read, and stand by 100% of what I have posted. In short, despite never having worked in corporate law, and with no great CV to talk of, I am correct and you are completely wrong. I won’t be calling my GP just yet. You had me worried there!

Addicknt.... just scrolled back. ColonelDrake suggested BHP had to offer 45 p or above, to which my initial reply was....
Colonel... I think any takeover offer only needs to match or exceed the highest price paid in the previous three months.
So where have I adjusted that argument?