Solgold Share Discussion Threads

[pecker1] 08/12/2017 16:24

lefrene, re your 11484, assuming the MRE may already be in the share price.

That presupposes there is general agreement/understanding on what the MRE will reveal. In a previous post I now realise I got a decimal point in the wrong place and miscalculated by a factor of ten! Said I'd be happy with one million tons of contained metal rather than the 10 million tons you mention, which you get from one billion tons of ore grading at 1% cu equivalent.

10 million tons is an enormous amount - for example, page 8 of the November 2017 Solg presentation shows that First Quantum's huge Cobre Panama copper mine has 3.27 billion tons of ore at 0.36% Cu.

So an MRE of one billion tons for Solg would be pretty close to this figure in terms of contained metal. OK, the MRE will be an inferred resource, but the grade will be much better, and the regular upgrades should leave Cobre Panama trailing behind in the distance.

Hopefully the share price will be in for an upgrade too when the post MRE comparisons are made!

[lefrene] 08/12/2017 12:43

Looks like we will be able to buy at banksters rates before the end of the day?

[lefrene] 08/12/2017 11:05

I don't know ODR, plainly the banksters really drove down the placing price to be absolutely certain of a profit to themselves, although of course we don't know who now holds most of those shares. Presuming that NM wants to leave the door open to the banksters in case of future requirements, I would shortly expect to see positive news to lift the price away from these levels. But then if I really knew anything I would have shorted this from 46p!!

Yes EV's are going to use rather more copper than conventional cars, but despite all the hype I suspect that it is going to be a long time before EV's are the default personal transport. In the meantime the developing world still has a long way to go in terms of catching up with the West supplying power to domestic homes, and building homes.

[shakester2] 08/12/2017 10:36

Read that there's 4 times more copper in EV's than combustion engine because of all the wiring

[onedayrodders] 08/12/2017 09:42

hmnn .. maybe a brief spell sub placing coming up

The banksters will at least feel 1% of what us PI's are feeling right now

:o/

[lefrene] 07/12/2017 13:19

I think we can assume that the MRE is already in the price, I doubt in itself it will say anything more than we already know, ie circa 10 million tons of copper in Alpala. To me the value of the MRE is that it is official and carries credibility and might thus be able to trigger finance for some enterprise that wants to mine it. In effect a starting gun for the bean counters and money lenders. Plainly Solg has little value unless it can get money from all this copper in the ground. Solg can't mine it, so it has to find an entity that can.

I should think NM's longer term aim is to get enough money by selling projects, so that Solg can begin mining for itself, hopefully without debt. If just some of those other 70 odd tenements come good, then there might well be over 100 million tons of copper available?

[onedayrodders] 07/12/2017 12:27

Yep .. really struggling to shake it off.

There seems to be a view from a few on LSE that the MRE will disappoint and might not match expectations.

I'm wondering whether that might be right given NM in his recent interview was keen to repeat that this will grow and there will be quarterly updates.

[lefrene] 07/12/2017 12:22

I don't think they make it any more ODR :¬) Once it's gone its gone.

Presumably there's still a big overhang from that placement?

[alwaysevolving] 05/12/2017 16:55

Biggest one day drop in copper price in over two years today apparently so someone has said something that's for sure. Think I need to turn off the Computer for six months and take another look then. This price action not good for my blood pressure 😱

[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.