Solgold Share Discussion Threads

[mrpiggy] 07/2/2018 13:27

Sometimes Roddders you question the wisdom of hold shares especially when you see your profit disappearing by the day to a point when you are in the red, it's happened to me on so many occasions and sometimes you end up kicking your own ass!I bought into solgold in the early days at cascabel when the share price was just over 10p, despite mainly great drill results the share price fell to just over 1p and bearing in mind it was by far my biggest holding in both my private pot and pension pot. I had enough faith to hold bearing in mind NM was also loosing a fortune and he hadn't sold a single share!We then saw a steady rise to around the 47p mark and a lovely healthy profit for my patience. What I'm trying to say if you really are a LTH then daily movements don't really matter if the news from solgold is all positive. Decide what your long term target is then when it reaches it hit the sell button and don't fall in love with the share!(Just make sure it's multiples of where we are now!)

[lefrene] 07/2/2018 10:42

I'm quite sure that if the company was in anyway impinged by the referendum result they would have issued an rns, as plainly it would be of material importance. In the meantime a business which has £50 bn of resources in one location and very probably £500 bn over the other 77 sites + Aus and SI is going for small change. April seems a long way off until we find who has those new shares.

I guess if you bought a shed load of something at 25p and entered a forward agreement at say 33p when the market price was 37p, then it would be to your advantage to see the price drop below the 25p? Cos then you might be tempted to buy them all back in at circa 20p making a 13p turn at £1,800,000 per penny. All without turning a wheel, or lifting a sack of spuds. Although I suppose you would have to fund a gaggle of semi-literate school leavers to spread FUD on BB's :¬)

[mrpiggy] 07/2/2018 07:28

https://en.m.wikipedia.org/wiki/List_of_national_parks_in_EcuadorHope that answers your question but as far as I know the answer is no. It has virgin jungle but will largely remain unspoiled due to block caving.

[deejay007] 06/2/2018 20:11

I'm trying to find out if Cascabel is in a 'Protected Area' ? - I'm sure it isn't - grateful if anyone could confirm this ?

[lefrene] 06/2/2018 14:13

What's incredible that a company that owns the rights to what will likely turn out to be over 100 million tons of copper eqv (£500 billions worth) 2% of which would be £10 billion, is reckoned to be worth only £340 million today. I guess none of those career types in Behemoth Mines inc, has got the bottle to grab the whole thing for well under £1 billion.

[onedayrodders] 06/2/2018 13:55

well after holding for quite a while I'm now in the red ... incredible really

[mrpiggy] 06/2/2018 13:31

It's not unusual for the share price to drop a few % below a placement price but we are currently 20% below and dare I say falling..... WTF!!!

[rougepierre] 06/2/2018 12:50

bought another 45,242 at 20.25....onwards and upwards...

[lefrene] 06/2/2018 12:18

There's no knowing how low these things can go, there's usually a capitulation point of high volume, but so far we haven't seen it. Could be sub 20p to buy before the days out.

[alwaysevolving] 06/2/2018 11:38

Looks like it’s going to go sub 20p sadly ☹️ How far can this lacky band be stretched before something gives?

[pecker1] 06/2/2018 11:34

It looks as though the market is giving zero value to Solg's 77 mineral concessions outside of Cascabel. Almost unbelievable, as these were carefully chosen given their first-mover advantage and some are already showing real promise.

They are sensibly divided into four separate 100% owned subsidiary companies. Each of these companies could discover several prospects that merit serious exploration effort. And each could be floated in separate IPOs with Solg maintaining a major shareholding. One benefit would be that the cost of regional exploration would not fall solely on solg.

As to timescale, I believe the fast-track approach used by Solg will show results within one year that an exploration company would normally take three years to achieve. There will also be scope for big economies of scale such as back-to-back aeromagnetic surveys.

In short, regional exploration by Solg has the potential to add serious value this year and then, depending on the discoveries made, perhaps a means of financing Cascabel exploration and development.

If this sounds fanciful, how many other exploration companies can field a team of 200 plus including senior geologists in one country?

[lefrene] 06/2/2018 11:15

markth126, I suspect most of us are in a similar position, a few will have managed to trade it. Solg are currently in the process of proving that they have what they say they have, which then allows the beancounters to put a tape measure over it, and then go about the process of raising money for extraction. Hence the concentration of activity on Alpala to get it proven up, so that there is something to sell. It takes time, and that allows market players to play, and for predators to accumulate.

[markth126] 06/2/2018 11:00

Thank you for the comments and thoughts, I have been with solg for many years and really thought we would have been above 50p by now. I remember nm interview suggesting similar style multiples to the share price when it was sat around 18p a couple of years ago. Seems a distant memory now but I am still committed to this for the long haul and it's by far my largest holding, just its uncomfortable watching the gains of 2016/17 being wiped out mainly for me by this reduction in share price. If it's games it doesn't appear fair games but we will never know that. I'll continue to hold as believe the team here will deliver and that the main man is a significant shareholder gives huge confidence. Keep the faith and i will try and not be tempted to buy more.

[lefrene] 06/2/2018 10:52

I'm convinced that it's that 180 million share overhang that is providing the means with which to game this markth126. This company has 78 concessions in Ecuador and just one of those concessions in a very favourable location has more that 10 million tonnes of copper in it worth some £50 billion, and very likely more copper will be found on just that one location. That's before you start looking at the other 77 concessions or the other properties Solg has in Australia and the Solomon Islands.

Come April those 180 million new shares will surface, it will be interesting to see who's hands they have fallen in to. By April we will have more information confirming metal in the ground, plus perhaps a preliminary idea of extraction costs. Every mining vulture in the game will be looking Solg over, they will want it as cheap as they can get it, no dirty trick will go unused. The company is currently well funded, copper is in demand, all you have to do is wait, and if you fancy pick up some more while they are on special offer.

[mrpiggy] 06/2/2018 10:42

Markth126, this will turn when the market sees the share price as a good really good value OR it will bounce back well after a sharp fall ( we have done this many times) OR an RNS stating a major is buying Alpala or a joint venture to fund it to mine.We may have to wait for the BFS to land before we get news on the latter OR we may get taken out completely if we fall much lower!All very possible but it is just my opinion!

[onedayrodders] 06/2/2018 10:30

Hi Mark .. I think you are underplaying the last few days as just "a few bad days"
The Dow Jones has seen 2 consecutive record points down days in history.

When the US sneezes the rest of the world catches a cold. Always the case.

mm's will chop off % before a trade is struck regardless of buys v sells

Hopefully short term noise

[markth126] 06/2/2018 10:21

What is dragging this down, I know the market has had a bad few days but this drop is just persisting away and eroding all of the value we had built up. Frustrating and worrying .Thoughts and where will it end

[lefrene] 05/2/2018 16:29

I would think that the big miners have a very good idea of the costs, having done this sort of thing by way of business for decades. Solg has said that the excellent infrastructure indicates a $2 to $3 billion saving on initial costs, however a preliminary feasibility and cost estimate is shortly being undertaken, and perhaps a full feasibility study will be available about a year from now. Having some idea of the costs will be helpful in placing a value on the business, but in the meantime the size of the resource to be mined continues to grow, and thus the earn-out of sunk capital continues to extend. Given the size of Cascabel it will likely be an earner for 50 years or more. Then of course we come to the other 77 tenements.......................

No small wonder that greedy hands would like to take this out on the cheap.

[mknight] 05/2/2018 15:48

The problem i see is that no one seems to know the cost of getting the copper and gold out of the ground . If the company could give some guidelines then it would be easier to do the maths .

[lefrene] 05/2/2018 15:37

Quite so, the copper story just keeps on growing, but the value of the company keeps shrinking, so just keep buying if people want to sell their holdings at half price and less.

[onedayrodders] 05/2/2018 15:30

Nothing ever surprises me anymore in this game.

It would seem the Casino extends beyond AIM

[onedb1] 05/2/2018 15:27

Well I evaluate a stock mostly from a price action view , not neglecting fundamentals , in this case loads of copper at a great price . The share is over sold now . I was expecting a bounce 2 days ago post the test at 20p ish . Funny as when this was at 40p vs half the price today the actual amount of copper implied has gone up and price has also performed well . If you overlay the 2 charts Solgold went down since June 2017 from 44p ish to 21 today whilst Copper went from $2.5/lbs to $3.25 today . If that is not the weirdest correlation ever let me know . A copper mine inversely correlated to copper . Uh ? We even got significant cost reductions news in the last RNS .All very strange .

[lefrene] 05/2/2018 15:15

onedb1, I can only conclude that this has been 'worked' down to this level, no doubt in due course we shall learn for whom this exercise has been undertaken. I'm further guessing that the new 180 million shares were held off the open market to head off an opportunistic grab, which suggests to me that some good news is going to emerge before the April deadline.

[onedb1] 05/2/2018 14:31

I was going to post the same . Copper performing well yet Solg down . Seems surreal but the market dip is an opportunity to me