Solgold Share Discussion Threads

[mrpiggy] 16/8/2018 18:29

Keep the faith lefrene, the Yank with the weird hair cut has caused bad sentiment in the mining sector with trade war worries and caused much shorting in the copper market. This will shortly reverse as will the fall in the fortunes of SOLG. Great post once again pob69.

[pob69] 16/8/2018 17:41

Splendid newsletter article from Chris Temple of the The National Investor reviewing this week's Cascabel release from $SOLG $CGP #ecuador

Summmary (and don't let short term price movements freak you out....)

As the first of potentially several development targets take greater shape at the huge overall Cascabel camp, this week's blowout numbers tell us a few things:

* That with all three of these holes being North of that key 1% Copper Equivalent threshold over the entirety of the long intercepts reported--with some truly staggering grades over smaller but not insignificant parts of them--it's more compelling than ever that the Alpala cluster, though deep, is of sufficient size and grade to be economically produced.
* With the dramatic ramp-up in drilling this year by SolGold leading to these (and other) new intercepts, a coming upgrade to the maiden resource estimate put out back on January 3 could be far more substantial than many have thought likely. That may be especially true for the so-called "high grade core" which is clearly being
added to.
* All this in turn, once a new estimate is released (I believe prior to year-end) is likely to substantially ramp up the talk of a potential takeout of Cascabel in one fashion or another.

[lefrene] 16/8/2018 14:55

Only 21p, it might as well go to 20p! never mind all the extra copper and gold found since the last 20p visit, and the other 72 properties count for nowt at all.

[alwaysevolving] 16/8/2018 13:18

Looks like it’s going back to 21 AGAIN! This is getting frustrating.

[mikalan] 16/8/2018 10:29

So, at the time of writing about 1m shares traded representing approximately 0.06% of the shares. Yet we are down getting on for 4%. Guess that's how the money is made.

[lefrene] 15/8/2018 16:02

Current price action in copper seems to make a nonsense of the dire warnings of a looming shortage of the metal. Perhaps a good time for end users to start locking in current prices by buying forward? But then it might get cheaper still before Trump softens his trade war a little.

[pob69] 14/8/2018 17:08

New Cornerstone AGM presentation #ecuador notes "MRE to be updated later this year" and "Initial drilling at Aguiñaga confirms the potential for a second and near surface porphyry deposit. 5 targets to be drill-tested by an initial 7 drill hole program within a surface area of 1.5km2"

[lefrene] 14/8/2018 11:41

They have to do a cost analysis to have the full bankable package. There are very few who can act off their own initiative, thus in order to keep their jobs safe the decision makers will need to have boxes ticked. So an MRE and cost analysis are required, then the bean counters have something to point at to confirm the sagacity of their decisions. A confident player owner/operator type could make a swift decision, a bunch of corporate employee's will be rather more circumspect. Regardless of all that, what we want is several bidders appearing at once and fighting over it :¬)

[chavitravi2] 14/8/2018 09:59

Agreed in every aspect, but I do think they should choose to stop spending money now, they have proved up enough to satisfy anyone. Like you say, sit back and await offers.

[lefrene] 14/8/2018 09:22

Fortunately chavitravi2 the 'buried treasure' is actually very useful and gets consumed by industry in ever increasing quantities, and it is known that many of the current suppliers are operating at marginal profit as they work out old mines. There are entities out there that need new sites of the scale of Cascabel as their existing low grade sites become uneconomical. The stand off is over whether these miners need a new site more badly than Solg needs fresh cash. Solg has the whip hand, it has the copper in the ground, and proves up more by the day. If Solg chooses it can pause, stop spending money and simply wait, the copper/gold isn't going anywhere.

[chavitravi2] 13/8/2018 17:00

Lefrene, I think you are right, It remains "tantalising buried treasure" I suspect many like me don't want to throw money at something that may be tied up for years and even see devaluation of that money as I did many years ago. The treasure ain't worth nowt unless you have the means, money and right people to get it out. And there lies the problem. I agree with you in the second posting that it should be mothballed. They have done more than enough to prove this up.

[trev1223] 13/8/2018 16:54

lefrene
Just read your last post, I jumped in a bit early.

[trev1223] 13/8/2018 16:51

onedb1
We have had numerous "very good" RNS's and I don't recall a bad one, but the result is always the same. I too am frustrated and I know that lefrene is also and so are all the other investors on this board.

[lefrene] 13/8/2018 16:47

"Well in this case we are seeing a waste of a RNS ".

onedb1, I did indeed take the above as criticism of the Board, but now I see that it can be read in a less critical way.

We are of course (holders) all frustrated at seeing the share price stagnate despite the size of the resource and it's quality improving. I'm simply trying to rationalise (hah this is a stock market!), why the price might not reflect the good news.

I suppose one good thing about a low price is that it will make the Board think twice before dumping more shares into the market to raise cash to throw about? Knowing there is a finite amount of cash I hope is making them very careful how they get best value for it. It's that lack of earnings and cash of course that is enabling this stand off. The vultures want to see NM run out of cash and then make a derisory offer. I'd rather see the whole thing mothballed than get screwed over by the usual suspects. My guess is that Mr Mather would rather do a deal with Australians than any other culture, time will tell, and the deepest pockets will call the shots.

[onedb1] 13/8/2018 15:59

Lefrene, You mis read my post , I wasn't saying it's the boards fault lol . I was lamenting the fact that a RNS with 'exceptional resources ' found sees the price drift . It's frustration on my behalf .

[lefrene] 13/8/2018 15:56

As I understand it a board is required to post an RNS as soon as they become aware of information that 'could' affect the value of their company. So the board have acted properly, the fact that the market seems underwhelmed is not a fault of the board.

Even the next MRE when it eventually arrives, which one expects to confirm much enhanced resources, may not move the price much, the treasure in the ground can only be recognised when there is a viable and fully financed plan to extract it. Until then it remains tantalising buried treasure. The purpose of holding here is to be sure of a seat when the curtain raises, and not having to pay through the nose to ticket touts. But of course even the programmes haven't come back from the printers yet!

[onedb1] 13/8/2018 15:39

Appreciating that we have no production and no revenues but today's reaction to the RNS which adds exceptional resources borders on the pathetic . Value is clearly add and certainly does not warrant a negative price reaction . RNSs are meant to be released as they are usually considered market and hence price sensitive . Well in this case we are seeing a waste of a RNS . Pretty clear that if they wrote " we have all the copper and gold left in the world " price would tank ... TA wise we are stuck in this long consolidation 20 to 27p levels . A break out is needed

[lefrene] 13/8/2018 14:53

mam fach, as each bit of good news comes out I guess that it confirms the business interest of the big players watching it, eventually it's likely that Cascabel will be mined. The better grade and volumes of ore lead to a more favourable scenario for extraction, the initial costs can be recovered more quickly making Banks able to offer more favourable terms to the eventual miner.

The stand off will continue until somebody wants it badly enough, then I would expect all contenders to place their bids. Until that happens here it will languish, as Solg is known to have limited working capital and can't mine alone.

But I'm very happy with the rns, Cascabel just became more valuable and more desirable, perhaps her suitors will become a little more ardent soon?

[mam fach] 13/8/2018 13:50

What is worrying is if good news doesn't lift share price
what would bad news do. Thankfully no bad rns's lately.
Potential huge.Time line-impossible to say.
Rns that will move share price is announcement of joint venture
or sale of part of the assets.

[chavitravi2] 13/8/2018 10:24

I first came into this a about 8yrs ago @ 70p and sold at a lose. I have looked to coming back in several times but always came to the same conclusion that it's still in the ground and will always fall back until they start getting it out the ground.
That said I will still keep a close eye on it.

[lefrene] 13/8/2018 09:59

Good news is good news, the market can do what it wants but the people who count are the major miners who are looking for large scale quality resources. This rns makes Solg more attractive as a potential acquisition.

[jerryspaniel] 13/8/2018 09:50

It kind of worries me that they feel the need to release more of the same. They should know from past experiences that this has no long term effect on the share price. If they really wanted to develop a mine they would only release news about the financing and mine development. The fact that they continually try to talk the market higher through assays suggests they are trying to flush out a bid.
I am a LT holder but getting frustrated by the tactics.

[mikalan] 13/8/2018 09:18

Happy to do that ODR as long as I reap those rewards and not my distant descendants :)

[onedayrodders] 13/8/2018 08:45

A case of sit and wait for rewards ... not about today or tomorrow or next week.Frustrating yes but hey ho