Solgold Share Discussion Threads

[lefrene] 05/12/2017 16:19

I haven't seen those reports, but presumably these are the same scribblers telling us not long ago that there was a looming shortage of copper. One wonders who is placed to gain from these timely too much/too little stories?

[alwaysevolving] 05/12/2017 15:34

Copper just fell off a clif following reports of better inventory than previously thought (according to Bloomberg) I’m sure this has not helped our share price here today. Bad timing for headlines like that given our pending resource statement 😐

Edit : let’s not even talk about the POG action today!

[lefrene] 05/12/2017 15:30

I'm hoping the next 6 months will see a sea change, it will take a deal to exploit Cascabel to turn this into an actual investment rather than a speculation. But right now it looks like we will be on banksters rates some time tomorrow.

[pecker1] 05/12/2017 15:03

Me too! No point in glossing over what has happened: a premature fund raising seemingly to provide institutions with the assurance that Solgold has the funds necessary to explore through 2018 has led to institutions picking up a sizable chunk of equity at a big discount. Great pity as the previous raisings were at a premium. In short, they have been shafted.

The consolation is that the money is in the kitty so no more fund raising until we know how many of the other Cascabel prospects could come good. Obviously they need to make the best use of the cash and I don't doubt them on this score as they have excelled so far. Plenty of news to look forward to including advancing the new regional discoveries as well as Cascabel. Roll on the MRE and the New Year.

[alwaysevolving] 05/12/2017 13:50

I’ll second that!

[onedayrodders] 05/12/2017 13:31

it's big moody club at the moment .. take some comfort you're not alone

[lefrene] 05/12/2017 13:06

It does seem odd, if that MRE was so close why not wait until that was out and then go for a cash raise? With NM having a very large holding here one has to rely upon his experience and assume that he would not want to harm his own position more than he has to.

NM laying out a game plan would be helpful but also perhaps damaging to the longer term interests of holders. I presume the cash raise was to enable the cranking up of activity on these new tenements, instead of waiting to try and find a buyer for Alpala.

I think I'm a bit moody today because I picked up another 100k last week at 26.25p foolishly thinking I had caught the bottom!! I should stop looking and go away somewhere sunny, eventually the value of copper here will get recognised, ahh if only we had a bitcoin mine :¬)

[onedayrodders] 05/12/2017 12:39

Yep ... a few months ago I would have baulked at the idea of a cheap 50p take out ...feeling different today.

Whilst NM insists this was needed it's created an awful hangover for the share price

[cool hand kev] 05/12/2017 12:31

Has the share price been excessively diluted. They seem to be issuing new shares on a frequent basis. I'm not saying that there is not value here but not as much as there originally was? BWTFDIK

[lefrene] 05/12/2017 11:47

This thing never ceases to disappoint, almost back to what the banksters paid for the 180 million.

[whites123] 04/12/2017 18:28

Solgold Development Update Video on iii.


[...]

[catsick] 03/12/2017 02:18

Having a good look at this at the moment but have a few questions that I cant seem to readily find the answers to.For an underground mine the grades are pretty low, do we know is what sort of grades they will initially target and how much do they expect to produce a year ? ie will they go after smaller pockets of 3pct equiv ore and build a plant sized to deal with that which could be as small as 10k per yr copper output or are they going to try and build a massive plant and go after all the 1pct equiv ore ? Do we have any idea of the capex being planned and what processing capacity it will give them ? all I can see is they say 3bn in capex is saved by not having to build roads or electric infrastructure. Maybe there is no plan to do this until the resource is fully mapped out but it would be good to have at least a rough idea of capex needs and cash costs that are anticipated.

[pecker1] 30/11/2017 16:41

Just had a look at the Sedar filing that NM mentions in the RNS. Confirms that Newcrest took 26,172,000 shares in the bought deal to keep their shareholding in Solg up to 14%.

[5070481] 30/11/2017 15:41

Happy to hear your prognosis/explanation, sidarthur. As you say it is a bullish continutation pattern. How can you have a bullish continuation when it has been in a downtrend? Surely you need a change of trend to an uptrend to occur first and then you can look to play the typical chart pattern after that?

As a holder I am keen to see some positive chart formations occuring too but I cant see any just yet. We do seem to have a higher low compared to 24th October but other than that we simply have to wait for better consolidation.

[lefrene] 30/11/2017 09:58

With an overhang of 180 million new shares, the owners of those new shares might well be looking for only a small profit, perhaps hoping the MRE will provide an uplift to sell into? If so this will go side ways for a while yet.

[sidarthur2] 30/11/2017 09:26

5070481

thank you for correcting my 'misunderstanding' although I'm not sure you are entirely correct

(The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.

As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.)

I am happy with my prognosis!

[pecker1] 29/11/2017 18:54

After the collapse over the last few years in the share price of many of my mining stocks, even a Reliant would be a stretch!

[pecker1] 29/11/2017 17:50

The first RNS on the bought deal financing said that the shares issued in Canada would be subject to a four month hold period. Unless the RNS was badly worded it would seem that the shares issued in the UK are not subject to a hold period, hence the share price falling towards the issue price.

Agree with 5070481 that the resource statement probably will not be mind blowing. Perhaps something over one million tons of copper equivalent contained metal would be a reasonable, if modest, starting point with the potential to grow rapidly with each quarterly update.

Looks like we'll get plenty of news flow too from the new prospects at La Hueca and Porvenir. I do not think they would have highlighted the latter two prospects unless the evidence on the ground was strong - in short, great news for shareholders, not least as they are 100% owned by SOLG. Still think this will multi-bag by this time next year.

[5070481] 29/11/2017 17:19

Sidarthur2, A classic cup and handle occurs after a sizeable rise rather than a drop. THere is no cup and handle currnetly on teh chart. NOv 2016 -Feb 2017 was the last time one occured on SOLG.

[lefrene] 29/11/2017 11:24

ODR, of course it would have to be a perfect lozenge shape to go down well with the market!

[sidarthur2] 29/11/2017 11:18

classic cup and handle on the chart presages a good rise into the coming months(imho)

[onedayrodders] 29/11/2017 10:59

It has to be symmetrical lefrene

[lefrene] 29/11/2017 10:57

I begin to think that if they came across a 1km cube of refined solid copper, the share price would still go down!

[5070481] 29/11/2017 07:51

Only a few smaple grabs though. Nothing really to get your teeth into. Resource statement is the news people are waiting on. Cant imagine many big investors buy into a company based purely on a few samples rather than on confirmed drill results

PLacing closes tomorrow as well so lets see where we are then.