Member Info for zeusfurla

Knuttie No-one is selling - it's all buys again.

Keeping an eye on L2 for any movement. The 500k on the offer was there again early doors but is gone again. We now have 50k at 37.8p but more interesting to see that WINS is offering to sell at 37.0p which is up so maybe a bit short of shares
? Looks like some gentle upward pressure to SP despite absence of news. Don't see much risk of any downside for the rest of the year.

Apologies - wrong board!

Keeping an eye on L2 for any movement. The 500k on the offer was there again early doors but is gone again. We now have 50k at 37.8p but more interesting to see that WINS is offering to sell at 37.0p which is up so maybe a bit short of shares? Looks like some gentle upward pressure to SP despite absence of news. Don't see much risk of any downside for the rest of the year.

Every trade from 803 to 811 is a buy. I think that shows clearly how strongly real PI's value this share and it is due to this BB and the TBP. MM's just can't hoodwink the PI's on minor news. There also seems to be a floor at 40-41p below which our larger seller won't sell. Relative safety in an uncertain wider market to be had in BMN.

40/41 to open is predictable

I'm sure we'll see an update soon but unsure as to whether it will be a notification of a delay or the signing of a deal. Hard to put set timelines on these things and that is I'm sure why the SP is drifting - just the absence of news and an ebbing away of confidence. I'm holding on if necessary until early 2019. There is plenty of potential upside here. However like most I am frustrated!

I'd really hope schlemiel/mirabeau comes back - sensible insights and I miss him on this board. The advfn board is just not as informative. Anyway having checked in this afternoon the 500,000 that has been sitting on the offer side has disappeared since this morning. The 100,000 x10 are still there but not until the offer reaches 39.5p. I think about 2,000 out of the 500,000 were sold - unless of course there are some late trades to come? I don't know what that means but I suppose it MAY have lifted the block around 38p. I don't trust MM's or DMA users but at least it could be a positive sign.

S4 I agree with you almost as much as I believe myself and am happy to admit that I just don't know what's going to happen. I wonder if Nick knows what he really wants? Immortality in Ecuador or a rest/change? Thanks addicknt too - I've listened to quite a few presentations that say almost the same thing now - either it is panic defence or a sales pitch - could be read as either. Schlemiel I really like the point on PEA reducing risk. I think that's what's changed from 10 years ago. Despite some big majors getting their fingers burnt there are less big mining opportunities out there and the need is to take greater risk for the same or greater gain. Not sure the majors are quite there yet but some solid gains in the Cu price will get them there.

Whatever the truth, I am more convinced than ever that this is a top investment and will stick with it for the duration. I'll be topping up in the next 2 weeks and sitting back. Have a good week all.

Thanks all for some great posts and insights over the last day - a busy Saturday for SOLG! I know I've leant towards there being some kind of bid in the next 3 months and still think there is a fair chance of that but I think the medium term story is more compelling.

A few more thoughts from me. Nick mentioned a couple of months back how vulnerable he thought the company was. I guess that has been reduced to a degree by the BHP standstill agreement.We shouldn't forget though the sales drive that Nick has been on for the last 3 months which pushes me back a bit towards a possible bid. That wasn't just about being excited with what the team is discovering. And finally - the world for Tier 1 copper is not the same as it was 10 years ago so we should not expect past behaviours to repeat now ie there is more chance of a bid appearing than mere logic would dictate. Whatever I'm glad the team is going full steam ahead with all available rigs and geologists - plenty more news to come next year!

Endion Looks like normal service has resumed. Do we now have a relatively free-moving market? Bit too early to say but having dipped under 40p to collect stop losses if any that's 1 less reason for MM's to push price down. If normalised I'd expect a gentle reflation in sp. Anyway, back to some proper research now and stop looking at sp movements!

Isn't it just amazing how quickly the market (makers) can turn.......

Thanks Alfa. Definitely a concerted effort to push the SP down by the MM's especially given the trades just before 10am. Agree with you - not many PI's. Remember the fundamentals and free cash flow. This is just manipulation. Sell high, buy low!

Not much volume today and I am still reassured as I was yesterday that there is very little PI selling going on. This week's SP movement is almost entirely artificial. Unfortunately not much buying either but we all know it will come like an avalanche. Could there be some link to the prospective entry into AIM50/100 and the higher profile that will attract as well as moving on I think to SETS if that happens?

Daisan Yes - looks like there is downward pressure being applied by MM's today in line with yesterday - some kind of end-month deadline. On production I agree that BMN needs to walk the walk and get closer to that 3750 target. However, I am reassured that even at the most recent production levels there is so much free cash flow being generated that the risk is all to the upside at present.

Does anyone remember Nick saying a month or 2 back that once MRE2 was out it was just a question of plugging in the numbers as the PEA was well down the road to completion? I just wonder if the 'late Q1 2019' suggested is now due to some tactical reason or other. Surely the PEA will be ready before then. If delayed that long there are quite a few extra km of drilling that could be included in the PEA. Or maybe Nick is just keeping his options (can I use that word?) open? I guess I always look for underlying reasons and maybe sometimes there are none. Whatever, PEA will be very interesting whatever shape it takes.

S4 Agree completely. With my deviol's advocate hat on I'm trying to think where the risks are and I'm back to the same stuff I usually come up with - sovereign risk, personal risk (to Nick and other key staff), wider market catastrophe, regional (or Trump-induced) turbulence. However the upside is far far more compelling even should a short-term storm arise.

addicknt Thanks for that. As a finance person I actually like accounts although have never been involved in anything too creative! Sympathy on being caught out. I did the same thing in another share 3 months ago, spotting that cash was running out and being pooh-poohed by other Board members when I highlighted this. I then ignored my own advice and held when I should have sold. Lesson for me - listen to your own judgement.

addicknt Will certainly check out Tim Steer's new book - always good to get another perspective. I am currently on an old favourite - Peter Lynch's 1 Up on Wall St - which is full of gems. I like to take the advice of books like this as a whole - often there can be contradictions which is I think at the heart of good investing. What works 1 day or 1 decade or in 1 sector can require the opposite approach in another. There are few really hard and fast rules. Peter's ideal make up for an investor is someone who is patient, self-reliant, who researches independently, detached, open-minded, has pain tolerance, humble, flexible, can take losses and run big winners, ignores panic and doesn't overthink as well as is able to take decisions on incomplete information. Maybe 20 years since it was written but much stays relevant.

Alfa That's an excellent spot on the 5 way trades and I agree with what you are saying. Do you have a view on what would be an ideal scenario for the MM's to eliminate their short? Is a few hundred k per day the way for them to try and keep it under the radar (except for on this BB of course)? I just wonder if the push down late in the day shows an increasing urgency to close the short? Maybe time could be running out or available shares? Thanks for all the work you do daily to keep us all informed - it is really worth it. I haven't seen anything like this on any other BB for any other share.