I love positive RNS's. Another strong performance .NOT
My only conclusion - the bigger the resource, the more funding in time and the greater time to move the resource ion to a global mining conglomerate. None of us want jam today, but a champagne sorbet by this time next year wouldn't go amiss!!
Think everyone waiting on latest Casabel results and updgraded MRE. Plus results from Aguinaga test holes overdue, and anyones guess re how long will take for results from Trivino, if they can get the results coming out re drills they are doing and sort out the months of delays re results, we may get the breakout everyone hopes for, the lag in results from drills and delays re updating MRE are very frustrating to say the least.
Yes, hence the incessant sells when the price touches 27p. The management did mention 12 expressions of interest, so they were blowing their trumpet then, although they cannot do anything to influence the trading price in the market. Lets just wait and see, and bear in mind that the longer the price is rangebound, the more violent the move when it is broken.
Orso.... Surely that would only serve the buyer - the Coy and shareholders would not benefit by keeping the price low - I would have thought that IF we are talking takeovers the Directorate would be pumping the price like billio!!
Pardon my ignorance if I'm wrong.
Logic dictates that SOLG would be pumping the price prior to a fundraise, along with more activity via RNS and the b.boards. Pure speculation, but seems more like accumulation at a price before a takeover, as any suitor would have to offer the highest price paid during the previous 12 months. Then you would likely see under the radar moves and a minimum of fanfares and hype on the b.boards before the announcement.
Probably because the management team are on the verge of a profound geological discovery of an element currently unknown to mankind but destined to deliver wealth to shareholders beyond their windest dreams. Either that or they're going to dig another hole that requires funding and are relying on gullible PI's to help them out.
Onedb1 I agree with your thesis and charting. One concern is a strengthening Dollar, though. Raul Pal on RealVision TV just pointed out the extreme imbalance in markets .... namely extreme Dollar short, Oil and Copper longs etc. When everyone is on one side of the boat, and all that. A very interesting thesis, listen to it here.
The current consolidation in between 25p and 27p has my attention .
A break out would target the 200sma and then I think 32p . I have had this view for a while, thinking it was imminent but not quite . We'll get there am confident.
There after I feel 44-46p retest is my view .
Not in a straight line .
But if am right this looks very similar to a rounding bottom with the consolidation phase where we are at now. Look at many oil charts and we are where they were in early April here . Readying for a breakout . Thats if am right obviously
Fingers crossed I am reading this well . At least if you are bullish like me .
Look at the Copper chart too . one beautiful trend up since mid 2016 .
Now that is already on the way to re-test the 2011 highs , again if am reading it well Copper chart is breaking upwards . If it does not go sub $3 and break down then Solg will follow the same pattern .
Once you see dollar weakness we may also have a resurgent Gold price and in general precious metals,commodities etc. Oil to hit highs not seen for a while and that will lead to inflation . Then I suspect bears will be at last getting their prediction of a correction coming true but till then lots to go .
hopefully am reading it well as I too have 2 positions here ! 20p and 27p
So looking at the numbers in the report
The Alpala maiden mineral resource estimate totals a current 430 Mt @ 0.8% CuEq (at 0.3% CuEq cut off) in the Indicated category, and 650 Mt @ 0.6% CuEq (at 0.3% CuEq cut off) in the Inferred category; contained metal content of 2.3 Mt Cu in the Indicated category and 2.9 Mt Cu in the Inferred category; and contained metal content of 6.0 Moz Au in the Indicated category and 6.3 Moz Au in the Inferred category.
12.3 Million Ozs of Gold if you take that at cost of production at about $1000
cost of gold is $1315 so the asset is based at 315*12.3*1,000,000 = $3.9 Billion!
5.9Mt of Cu is 6,786 per ton and taking a production cost of 4,000 per ton
5.9*2786*1000,000 = $16.4 Billion!
So we are looking at an asset worth $20 Billion I think a rating is due soon when we get the next Resource statement
So below is the % that directors or major shareholders hold which adds up to 62%, that's a lot for an AIM company to have so few major shareholders, so I'm a little perplexed at why the spread is so rubbish and the SP is static at the minute, given Tenstar increased their holding. I assume that we are waiting for the next update on the resources. Anyway it's a bank holiday and drinks.
Newcrest International Pty Ltd 246,634,271 14.54%
DGR Global Ltd 204,151,800 12.04%
Cornerstone Capital Resources 170,156,414 10.03%
Tenstar Trading Limited 118,788,062 7.00%
BlackRock, Inc 109,972,123 6.48%
Guyana Goldfield. Inc 103,125,000 6.08%
Nicholas Mather 90,768,275 5.35%
Brian Moller 5,189,121 0.31%
Robert Weinberg 4,296,091 0.25%
John Bovard 3,858,813 0.23%
The only rule I know of is the 0.5% disclosure with the FCA but that is not a RNS . Reason being that its not the company that discloses the shorts but the shorter/financial institution to the FCA.
What is interesting is that the amount of shares that BlackRock has added implies they have been doing so for a while and the previous channel we saw ( 20 - 24p ) zone is in my view where they were quietly accumulating as private investors were probably feeding them without knowing . The skill of a trader over there(at these Asset managers) is precisely this, to accumulate at a set level without alerting the market .
I am not aware that you have to announce through an RNS if you have shorted the stock, even if you were to go over the long announcement threshold. Plus its pretty unlikely any one organisation would want to short >3% of something like solg, a company that is so sensitive to newsflow.
Securities Lending desk lends stocks out for a fee to generate alpha on its portfolios etc . Sometimes it can be used as a proxy for shorting but as i worked with Sec Lending at Blackrock not all stocks on loan are actually on loan .
Blackrock is not shorting Solg but gave the Sec Lending desk a percentage of stocks to put out on loan should someone else want to . It does this for pretty much all the stocks in holds in their portfolios . We have no institution shorting Solg as one can see on the FCA shorts over 0.5% positions . ( 0.5% is not much for an institutional player )
If i was guessing they placed Solgold in their Blackrock UK smaller companies fund ( which is run very well IMO )
The news that Blackrock is seen as good enough for this team to put in their fund is great ! No matter what we think these are exceptionally good professionals with all the analysis at their disposal. They don't get it right the whole time but I bet their track record is excellent and better than most here .
I hope so as my "imminent move" has not come yet .
I have two levels 20 and 27.5 but want to add as this moves up . I like Copper plays .
Bit defeated here so far ,but have not changed my mind .
I always maintained I'll be out sub 20p but this didn't come .
Technicals ( I know some hate them but I make a good living out of them ) are looking better in my view too .
Moving averages 20/50 moving up, 100 day flattening , 200 still declining but soon to find the base .
Fib bounce off a key support level = check
Its slower than I had anticipated but momentum ( as in RSI ) is good
We aren't that far from the 200day moving average at 28.69 and my short term ( well I thought it would be ) target of 31/32 .
So slower that expected but hopefully this conquers target after target but like the operational ones which are increasing the resource just as many majors are seeing the need to find new resource plays to acquire . Antofagasta..Rio ....
Well I admit that I don't know everything.....
Seems like the main point of this board is to denigrate posts and posters.
What I have said is true but really I cant be bothered. Work it out yourselves.
No probs, I thought I was going mad......
HL only show one trade of 1.7myn shares going through at 0744. Total vol today of 2myn. Don't know why/how trades are put through before the market opens, nor what that means. Are they internal crosses? Shares moving from one fund to another within same manager?
200p is just a number, nothing should be read into it, other than its roughly ten times the low (and that is equally meaningless). But everyone who invests in anything should have a plan. So what is achievable and what isn't. My gut feeling is that over a £, it gets really difficult, almost regardless of the asset. The cheque just gets too big for something in the ground, that hasn't been mined let alone brought to market. I would be delighted to be proved wrong.
As for my background; commodities, equities, hedge funds, oil & gas and finance.
One thing is for certain, you will get your 32p before anyone gets their 100p!!!
All imho of course....
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