Solgold Share Discussion Threads

[lowtrawler] 13/10/2020 13:42

zcaprd7, I gave up trying to predict short term price movements in SOLG a long time ago. Charts have been of no help.Sometimes there are predictable swings, over reaction to news for example. However, the potential gains from top slicing are outweighed by returns from a buy and hold strategy. Without a bid, I expect us close to 100p in the next 6 months. A successful bid will need to exceed 150p and, if both Porvenir and Rio are tier 1, should exceed 200p. There aren't many shares where you have that potential with the backstop that is Alpala.

[greenelf] 13/10/2020 13:33

Well, everybody's toop slicing has added up. That is how it works :)

[zcaprd7] 13/10/2020 13:23

As I said a few days ago, nothing wrong with a bit of top slicing, although a bit late for that now.Nothing goes up in straight lines either, although that triple top on the three year chart is a worry, I suspect some news will push us through resistance eventually...

[greenelf] 13/10/2020 13:16

Good analogy. Also, we have waited all year for mid October. Let's not bottle it on the cusp of potential greatness.

[lowtrawler] 13/10/2020 12:59

Arcadian, this is no time to be half committed. A bit like on millionaire, you have locked in your winnings to date (underlying Alpala value) and have a free shot at the £million question. It will be disappointing if you get the question wrong but you've got to give it a go.

[mknight] 13/10/2020 12:57

Arcadian

If its Porvenir decafe i am sure he would be happier .

[arcadian] 13/10/2020 12:49

MK

What a nice way of putting it. I always accused him of having a cup half empty.

"Never thought i would see the day when i am more conservative than you"

With his present holding he really deserves that full cup of Cascabel Coffee.

[mknight] 13/10/2020 12:44

Level 2 update

Looking a bit better if the 141k at 38.80 goes then maybe something this afternoon imho .

[p@] 13/10/2020 12:39

Depends on what you do with the money when you sell.

[plentymorefish] 13/10/2020 12:36

Nout wrong with buying more here imo.....the saying (credit to mcknight not me) sums up how to view it when I've sold a bit too soon (which I've done plenty of times)......better to regret a profit not taken than beat yourself up for taking one too early......I'm still in here and hoping/believing that today is merely a healthy little re-trace.....atb

[p@] 13/10/2020 12:28

plenty-where does that put me with your saying?.......LOL

[p@] 13/10/2020 12:26

Just sold some GGP and bought some more here.

[plentymorefish] 13/10/2020 12:18

'Kick yourself for taking profits rather than kick yourself for not taking profits if you k ow what i mean'

Very good advice mcknight.......I shall make that slogan my own from now on!.....

[lowtrawler] 13/10/2020 12:15

MK, this is the sit on your hands phase. Real value is going to be revealed over the coming weeks and formally validated in the form of MRE by Q2. If Rio joins in the party, bids won't be far behind.I've taken a position where I believe Rio will be our third tier 1 and that either Porvenir or Rio will be open pit. I've also taken a position that I believe both Porvenir and Rio will contain more resources than Alpala. If my position is confirmed, any bid next year will be 200p plus.Worst case scenario, we still have Alpala which will more than recover my current investment.

[mam fach] 13/10/2020 12:04

On that basis should fail then.
This has been hanging over our heads for months.

[mknight] 13/10/2020 12:02

If its as good as we think 2 pound x 500k will give you a million .

Never thought i would see the day when i am more conservative than you 😃👍

[mknight] 13/10/2020 12:00

Lowtrawler .

Thats a lot of money tied up . Dont forget to take some profits . Kick yourself for taking profits rather than kick yourself for not taking profits if you k ow what i mean .

[lowtrawler] 13/10/2020 11:59

Mam Fach, the board plus their major shareholder, who is a mate of theirs, control 45% of the shares. A further 20% of shares have been pledged to the board to vote at their discretion. Thus, the CGP board control 65% of votes.

[mam fach] 13/10/2020 11:54

CGP shareholders don't have to follow board recommendation.
But who know whether holders will make up their own minds.
Not long to wait now.

[greenelf] 13/10/2020 11:50

Yes, the story is too interesting now into the year end to muck about. Not to mention this week's events.

[lowtrawler] 13/10/2020 11:46

I've bought a further 50k and am massively over invested now. I've got over 640k shares and have no intention of selling any this year. As I see it, the potential big upticks are:- PFS with outline funding, 5p- Rio first drill treated like the Porvenir first drill, 8p- Either Porvenir or Rio confirmed as open pit, 5p each- Each positive drill hole at Porvenir and Rio, 0.5p each- positive news from la Hueca or Blanca, 2p eachIf CGP surprise us and capitulate tomorrow, that's worth 3p as well.

[mknight] 13/10/2020 11:43

Lets see what the market does un the next hour and a half . NM might release news as before at 1.30 ish before Canada opens . Who knows we might finish blue today .

[rougepierre] 13/10/2020 11:09

Hardly surprising lefrene, given the volume of buys over the last few days...

Can't blame them for taking the opportunity on a no news day...so far...

Day trippers and fearful or weak holders shaken out...

(Plus of course those taking a stonking profit to finance a purchase elsewhere...GPSS still looking ridiculously cheap IMHO...GPM is 58/60, 60 to buy...GPSS is 9/11, 10.90 to buy...add the 46.2p call makes 57.1p...2.9p cheaper than GPM...yesterday's asset value was 74.02...that's a 23% discount to buy GPSS...I have 250,000, but there's a call to pay...)

DYOR

[lefrene] 13/10/2020 10:54

LT, thank you, I'd forgotten that aspect of CGP's holding.

This looks liken a classic shake, when a major event is just around the corner.