Solgold Share Discussion Threads

[lefrene] 31/1/2018 10:37

Those 180 million shares are off market and thus cannot themselves be traded, however it would seem likely that some sort of forward contract has been used to commercialise on a future event. It does look like an orchestrated bear raid when a company is valued at less than 1% of one part of one property out of a total of 78 ignoring other properties in Auz and the Solomons. One also has the company delivering on the talk, which is pretty rare, and halving the cost of drilling too.

So who benefits? One would guess it's the disappointed vultures who want it cheap with all the risks taken out of it. The only way to beat this is to get Alpala proved up and costed asap, then you have something you can sell, or even borrow against to mine it.

[charlieeee] 31/1/2018 09:59

There is no evidence to suggest that there is any overhang and every effort was made to ensure that was not the case, with the number of underwriters, jurisdictions (particularly Canada and the 4 month holding period) and the pricing (not to mention that Newcrest seems to have taken their share out of the 180m, as I cannot see a separate RNS).

Inevitably, there will have been flippers, but they will have presold, as they do and above 25p.

What you are seeing is a determined shorting raid (the SOL figures support that) and the intention to damage sentiment, thus causing PIs to lose confidence.

Shorting on SOLG escalated in October, before knowledge of the placing was in the public domain.

Volumes are really drying up: presumably, residual PIs do have some knowledge of the value of their holding and can see beyond the current trend?

Clearly, the placing was a set back for the SP, having damaged sentiment and opened the door to a shorting opportunity, but every day that passes, distances that negative effect and some of the positive effects of the cash raised, at work, reboot sentiment.

[caffeine1] 30/1/2018 20:12

I've been reading that the Ecuador referendum is scheduled for this Sunday. Not sure that it's big news for mining. It seems more like the referendum is a power struggle between Moreno and the former president Correa.

[pecker1] 30/1/2018 16:45

What to make of this reference in the 26 Jan RNS?

"Hole 41..has intersected very shallow epithermal (low temperature) mineralised vein sets between 60m and 100m depth.." As they are diamond drilling, the core should reveal if the mineralisation is from a low-sulphidation or high-sulphidation system. If the former , the source could be several km away, given the potential for lateral movement in hilly topography - at least according to the bumph I've just read!

Early days I know, but could be a stroke of luck if they have stumbled by chance on to evidence of a hopefully PM endowed epithermal system somewhere in Cascabel. Need something to cheer myself up on another down day!

[lefrene] 30/1/2018 16:40

The mystery given the events since 2008/09 is the lack of hyper inflation, although I suppose that is because the money issued by Bonds didn't get into the general economy but propped up dodgy Banks and over borrowed businesses. Trump being a property man will only know about leverage and re-mortgaging, and owing the Bank so much money that it's the Bank that is worried. The Dow has run with the tax breaks, I think the pull back is recognition that interest rates will have to rise because of all the cash returning to the States getting into the general economy. In the meantime BHP must be licking their lips as the price slides on Solg. It would have been better for those 180 million shares to have come straight to market, what was the point of creating this huge overhang?

[lefrene] 30/1/2018 16:24

At this rate we might as well talk Fibonacci sequence, that'll be 17p then! At least no one can complain that those options were set too low.

[kyoquot] 30/1/2018 15:35

Well it would make a lot of sense to me, but then just a numpty dumpty so..

[lefrene] 30/1/2018 14:03

I wonder if we shall see copper as well as gold become seen as a 'safe haven' when the dramatic rise in the Dow gets vertigo?

[lefrene] 30/1/2018 12:19

Very succinct, it reminds me of why he's filtered.

From 3rd Jan but worth listening again now that the price is right down.

Eight or nine weeks before that 'bought deal' goes on to the public market, I remain of the view that it is antics related to those 180 million off market shares that is driving the price action.

I notice from the figure quoted at the AGM that drilling continues apace.

[mrpiggy] 30/1/2018 10:26

I think FSA watcher summed up the recent trading action eloquently when he said " nuffin bein made nows coz it gone damp squib"I'm wondering if we have now come off the bottom..... seems to be holding at these levels!

[chavitravi2] 30/1/2018 10:04

Me too Lefrene, tho I got out at 44p after buying at 70p years ago. Put it in my other one UEN. Good job I did its doing very well and going to at least 2 bag from here. Still very under valued.

[lefrene] 29/1/2018 15:50

For a moment there I though it said 85,500,000 buy! Instead of 500k at 22.85. Good luck to the buyer I wish I'd got my 500k for 22.85p. Perhaps they are expecting something good from the AGM?

Another MRE due by start of April, so another four weeks of drilling before they begin that exercise.

[mrshaungcm] 29/1/2018 15:41

29-Jan-1815:18:4822.85500,000Buy* 22.6523.00114.25kO

[lefrene] 29/1/2018 12:32

The bankers who invested at 25p need to work that investment you can't leave that sort of money not earning anything. I think we have been seeing the results of that 'work', as we get nearer to April we might see it unwind as books get balanced.

[nicksig] 29/1/2018 12:03

If this moves up from here the technicals will look strong imo

[nicksig] 29/1/2018 11:18

Looks like this has found support

[mrpiggy] 29/1/2018 11:01

Sounds like a fair assessment lefrene, i for one will buy another big chunk if we hit 20p or near to it!

[lefrene] 29/1/2018 10:34

There seems no end to it ODR, one would think it was a widget business with no demand for the widget. As time goes by if this survives as an independent company I believe it will be found to control as much as a trillion dollars worth of metal across those 78 properties. I also believe the current price action is connected to that bought deal with the bankers. This business isn't going bust, it's doing all the right things and delivering on it's plans, and in just one favourably blessed location very likely has over 10 million tons of cu eq worth £50 billion. So I hope to get more at an ever cheaper price, eventually the players will show their hands.

[onedayrodders] 29/1/2018 09:33

Crikey :O(

[lefrene] 27/1/2018 12:59

I'm guessing that the news will just get better and better, perhaps they will have a resource update for the AGM on the 30th? It's beginning to look as if there is rather more than 10 million tons of cu ev in Alpala alone. Perhaps for the next fund raise Solg should issue bonds linked to copper?

I still can't reconcile how this is valued at a tiny fraction of the potential of just one site out of 78 in Ecuador, let alone the other properties.

[onedayrodders] 27/1/2018 12:38

" SolGold plc (LON:SOLG) (SOLG.L) has released an exploration update today regarding its Cascabel Project in Northern Ecuador. There are now 12 rigs onsite and operational at Alpala. There has been an additional 13,384 metres of drilling completed since the release of the Alpala Maiden Mineral Resource Estimate cut off, which was published on 3 January 2018.

Over the next year, the company anticipates that over 120,000 metres of drilling will be completed. In this regard, the company notes that it is encouraging that the new track-mounted rigs are already performing beyond expectations. They have delivered up to 60 metres per day each.

The cost of drilling has fallen from $1,100 per metre to $530 per metre. This could mean the cost of drilling is less than may have been previously expected.

SolGold is focused on significantly increasing upon the maiden resource at Alpala. With the bornite rich areas at Alpala South yet to be comprehensively tested, the company believes it could find a deep, rich root at Alpala.

In the last year the SolGold share price has fallen 20%. That£s a worse performance than other resources stocks such as KAZ Minerals PLC (LON:KAZ) (KAZ.L), Glencore PLC (LON:GLEN) (GLEN.L) and Anglo American plc (LON:AAL) (AAL.L). KAZ Minerals is up 90%, Glencore has gained 25% and the Anglo American share price has risen 27% during the same one year time period.

In my view, SolGold is making encouraging progress with its drilling programme. Although the nature of its activities is risky and highly uncertain, I believe the company could be able to deliver improved share price performance. I£m upbeat about the prospects for the gold price over the medium term and feel this could provide the stock with a tailwind in future. While potentially volatile, I feel its share price performance could improve relative to sector peers."

[onedayrodders] 27/1/2018 12:38

" SolGold plc (LON:SOLG) (SOLG.L) has released an exploration update today regarding its Cascabel Project in Northern Ecuador. There are now 12 rigs onsite and operational at Alpala. There has been an additional 13,384 metres of drilling completed since the release of the Alpala Maiden Mineral Resource Estimate cut off, which was published on 3 January 2018.

Over the next year, the company anticipates that over 120,000 metres of drilling will be completed. In this regard, the company notes that it is encouraging that the new track-mounted rigs are already performing beyond expectations. They have delivered up to 60 metres per day each.

The cost of drilling has fallen from $1,100 per metre to $530 per metre. This could mean the cost of drilling is less than may have been previously expected.

SolGold is focused on significantly increasing upon the maiden resource at Alpala. With the bornite rich areas at Alpala South yet to be comprehensively tested, the company believes it could find a deep, rich root at Alpala.

In the last year the SolGold share price has fallen 20%. That£s a worse performance than other resources stocks such as KAZ Minerals PLC (LON:KAZ) (KAZ.L), Glencore PLC (LON:GLEN) (GLEN.L) and Anglo American plc (LON:AAL) (AAL.L). KAZ Minerals is up 90%, Glencore has gained 25% and the Anglo American share price has risen 27% during the same one year time period.

In my view, SolGold is making encouraging progress with its drilling programme. Although the nature of its activities is risky and highly uncertain, I believe the company could be able to deliver improved share price performance. I£m upbeat about the prospects for the gold price over the medium term and feel this could provide the stock with a tailwind in future. While potentially volatile, I feel its share price performance could improve relative to sector peers."

[onedayrodders] 27/1/2018 12:38

" SolGold plc (LON:SOLG) (SOLG.L) has released an exploration update today regarding its Cascabel Project in Northern Ecuador. There are now 12 rigs onsite and operational at Alpala. There has been an additional 13,384 metres of drilling completed since the release of the Alpala Maiden Mineral Resource Estimate cut off, which was published on 3 January 2018.

Over the next year, the company anticipates that over 120,000 metres of drilling will be completed. In this regard, the company notes that it is encouraging that the new track-mounted rigs are already performing beyond expectations. They have delivered up to 60 metres per day each.

The cost of drilling has fallen from $1,100 per metre to $530 per metre. This could mean the cost of drilling is less than may have been previously expected.

SolGold is focused on significantly increasing upon the maiden resource at Alpala. With the bornite rich areas at Alpala South yet to be comprehensively tested, the company believes it could find a deep, rich root at Alpala.

In the last year the SolGold share price has fallen 20%. That£s a worse performance than other resources stocks such as KAZ Minerals PLC (LON:KAZ) (KAZ.L), Glencore PLC (LON:GLEN) (GLEN.L) and Anglo American plc (LON:AAL) (AAL.L). KAZ Minerals is up 90%, Glencore has gained 25% and the Anglo American share price has risen 27% during the same one year time period.

In my view, SolGold is making encouraging progress with its drilling programme. Although the nature of its activities is risky and highly uncertain, I believe the company could be able to deliver improved share price performance. I£m upbeat about the prospects for the gold price over the medium term and feel this could provide the stock with a tailwind in future. While potentially volatile, I feel its share price performance could improve relative to sector peers."

[mrpiggy] 27/1/2018 10:07

Cool innit!