Yep think we all know that a disconnect between sp and company at the moment and been suggested due to share overhang of 180m shares in recent rights issue. Been suggested that finance houses etc will have to come clean before end of March so, hopefully once these off the book deals come to light then sp will be on an upward trajectory again. That's just my take on things reading the bb's. Hopefully, they will have made their money and will move on and manipulate another companies sp instead of ours.
So not expecting any significant movement in sp until April regardless of what company announces great results hole 37 and rigs mobilised at new site.
Just keeping the faith and being patient. All my own view.
Last update 19th of Feb below. I hope don't get the next update till after the 180 shares thing comes out into the open in 2 weeks time and then sp will fingers crossed will reflect progress the company is making. Fingers crossed hole 37 delivers they seem to be attaching alot of importance to that.
Ø Drilling intersections, awaiting assay results, expected to add significantly to the existing December 2017 Alpala Mineral Resource Estimate (MRE), include:
Hole 36: Approximately 568m of visual copper sulphide mineralisation (1432-2000m);
Hole 37: Approximately 222m of visual copper sulphide mineralisation, open at depth as drilling continues (1620-1842m). This hole is particularly important, implying major system extensions northwest towards the Trivinio prospect;
Hole 39: Approximately 205m of visual copper sulphide mineralisation (665-870m);
Hole 42: Approximately 602m of visual copper sulphide mineralisation, including bornite, open at depth as drilling continues (309-911m);
Hole 43: Approximately 205m of visual copper sulphide mineralisation, including bornite, open at depth as drilling continues (665-870m).
Ø Hole 37 (in progress) at Alpala Northwest intersects primary Bornite-Chalcopyrite-Magnetite assemblage, characteristic of the rich centre of many porphyry copper-gold systems.
Ø Drilling costs more than halved from USD1,100 per metre to USD500 per metre.
wheepo, welcome on board at Solg. Good to have new blood.
I have been invested here for 6 or 7 years. I first saw it on the day the sp rocketed from 20p to 90p and then fell back to around 60p I think. I made £7k in 3 hours and watched the share with keen interest ever since. My average was sub 10p, but having sold a decent chunk during last years rise towards 46p, I have then bought back in and now hold around 475k at an average somewhere around mid teens.
The resource in Ecuador has grown and grown during this time. Recently, not just Cascabel but further out. Then we have the award of new concessions. You seem to have come on board with quite a day-trader mentality - nothing wrong with that, so your sp expectations are quite prudent and shorter term than mine. IMO. The longer term holders here might challenge some of your statements about rampers, but I for one am backing my belief with significant funds, that we will see a re-rating of the sp and I am targeting 80p - £1 before I start to take decent profits and move elsewhere.
I have other mining shares. I don't see any with the potential Solg has. Copper is fast becoming the demand commodity and the copper prices have shown that very clearly. The rigs on the ground are higher in number than ever before, and the efficiency of extraction and speed with which the samples are being evaluated is ahead of even Solg's own expectations. New MRE's are due in the coming 2 months or so. You take your position. I will take mine.
M and A activity will surely send the sp 2 - 3 times where is it now. We are told this activity is very real right now. Revised MRE's I would suggest should see it back into the mid to late 30p's - still well below levels reached in April / May 2017.
I will hold for 2020 - 21 timeframe after which I need funds. I am a holder until my target is reached and I am very confident that the company will deliver.
Read the MRE we are very undervalued imho, the grades on the MRE were a tad low but, this is only the start and fingers crossed will be significant uplift in resource both in quantity and grades imho, summary below of MRE excludes Gold
SolGold has released a maiden mineral resource estimate for its Cascabel copper-gold project in Ecuador.
The estimate across both indicated and inferred classifications stood at 1.08 billion tons at 0.68% copper equivalent, the company said.
"This maiden estimate is a tremendous start and in our view by no means represents a final size or grade because the deposit is still growing," managing director Nick Mather said.
At 8:09am: (LON:SOLG) SolGold PLC share price was +2.7p at 31.05p
That is great buying. Well done.
Must admit, I only came aware of this with in the last few weeks or so, however after seeing the first post being ramped of the globe at a certain £2 a share by DISORDER, I very nearly shut it down before I even looked into it.
Im looking for a rise into 26 - 30 p ....I will likely trade it from there as absolutely nothing is certain here and anyone just waffling spurious ramping unfounded garbage about bhp or Rio Tinto taking is out for £2 a share needs to be certified in my opinion.
Happy here to be apart of this now..
Well the way I see it, we have a decent chance to be somewhere bigger and better than we are now ...where is why I have taken a position after my own DD..
I will not however condone outright Uber ramping and craziness without substance from the likes of posters like DISORDER who feel they also need to cross promote us on other forums and contact the management multiples Times PER week. that just reeks of desperation and having a position that they cant handle and actually does more harm than good IMO.....
I see a firm 26-34 pence here on positive news which is a decent uplift from here ..purporting to anything more That with the position we are in , is just ludicrous and without justification...
open to discussion...
I hold 50 k at 22.5 pence..
Consider the volumes and relentless selling.
This smacks of large holder selling, and or shorts.
I agree 100%, that the news just really couldnt get any better.
Reserves to rival and exceed Rio Tintos world class mine...
Fully funded and reduced overheads.
I dont know how many of you include in your research contacting and speaking to SOLG?
I do, and I can tell you that Anna and SOLG are on the face of it as miffed as we are.
They have confirmed that no holder has declared passing regulatory thresholds.
The sp would suggest (Its my opinion) that a large holder is rebalancing their books.
There is undoubtedly short pressure added into this.
We have effectively been told that Newcrest and others are sniffing around.
Press has also run stories regards M&A in the sector.
I think as strangely as the price tanked recently from 29p straight through the gifting of share price at 25p it will equally rebound as fast, if not faster.
Every single one of us could likely name ten stocks we have watched and suddenly a 40 - 50% gain is added in a day...
This IMO is going to be another one of those stocks.
Effectively looking at 400% increase to put us on a reasonable price tag is my guess.
See it as a buying opportunity. Likely as not the price has been walked down by shorters but also to allow 'someone to buy cheap and then sell high, so why not take the opportunity to add to your holding if funds allow and you believe in Solgolds prospects.
Please ignore the sell rec I cant seem to remove it, Im also a holder.
All the good things that have happened over the last six month and the sp has dropped over 50%. Tells me I should of sold at 46. Its impossible for any news to lift the sp, because news cant get any better than it has in the last six month!!!
What on Earth is going on
Keeps bouncing off 20p level - The shorters wnat the teens but I don't think they'll win on that one for long.
With the MRE update fast approaching (cited for April I believe) it might be a case of just closing out in the low 20's before the herd return for the very important upcoming drill program at the Aguinaga prospect.
Explorers often move in patches and there was always a likely dip after the excitable maiden MRE event. But when that MRE begins to notch up and tick the Tier 1 box, then I think you'll see the back of the 20's for good.
Glencore's results were mind blowing. The market still slow to react. But one stand out point remains and that is that despite the shorters activity on Anglo, Kaz and others... none seem interested in shorting Glencore. I wonder why?
SOLG still has a long way to go and I think management are keen to ramp up the analyst coverage now that the sp is approaching the teens. Any lower and the likes of Glencore will be licking their lips. And that's the win win or hedge hedge for me with SOLG. Ultimately the downside looks limited as the inevitable farm out or sale will come... and will be at a significant premium to todays price.
No guarantees of course but the lower it goes the higher the chances of a takeover imho. Those that do not want early takeovers, will want the SP back to mid to late 20's pre April is my guess.
Post April, I think 30's will be back again and the recent flirtation with life in the teens will be gone for good.
The last 2 bounces at 20p have not gon ehigher than 24p. Get through 24p and I think the selling from Nov 2017 placing might at long last have ended.
See Seagulls response..
I didn't think it deserved answering as when dilution and its effects are mentioned it is equally if not moreso important to consider what the "benefits" were to the company.
It was not to pay down debt (Although nothing wrong with that) as long as its not emergency operating funding.
But it was to put the company into a much stronger financial footing which meant they could take on the projects fully funded..
Of interest though, now that it has been bought up..
The Share "dilution" occurred at a higher price than todays sp...
It just adds to the madness of the current share price.
Less than 2 years ago BHP Billington were being touted as being suitors to launch a bid for SOLG. along with Newcrest.
Now we are being told the resource RIVALS Rio Tinto's World Class Oyu Tolgoi copper mine.
Yesterday PodCast by Nick Mather effectively confirmed the market is M&A ripe, actually stating with regards to SOLG being swallowed up by a bigger entity "When or what price... and ...... It certainly wouldn't surprise me"
Rio Tinto has also recently said it is looking at M&A as it is awash with cash.
Yet here we are sitting at less than the recent funding price which was shouted by every man and his dog as "Gifting" stock away....
Any rocket scientists in the house to help us understand what is likely to happen to SOLG???
BHP Billiton has joined Newcrest Mining in trying to take a stake in a little-known copper and gold explorer in a sign of miners renewed appetite for low-cost entry into promising projects.
The battle between two of the worlds best-known miners for a stake in SolGold, whose prize asset is in Ecuador, shows how large companies are stepping up efforts to forge partnerships with smaller rivals to restock production pipelines.
So-called junior companies in mining have suffered a dearth of investment since the commodities cycle turned down from 2011, while larger companies have slashed budgets for capital spending and for exploration over the same period.
With most larger miners expected to show limited appetite for large-scale acquisitions given the lack of attractive targets and shareholder hostility after a string of overpriced deals agreements with juniors are regaining importance.
This is going back to a more traditional model the market has changed and people are looking at building or improving their pipelines, says an executive at one of the large diversified miners.
SolGold, which is listed in Australia and the UK, said on Monday that it received an investment proposal from BHP at the weekend. The proposal included an offer to acquire 10 per cent of SolGold for $30m and an offer to spend a further $275m to buy up to 70 per cent of Cascabel, the miners project in northern Ecuador.
But SolGold said the offer was less attractive and had more conditions attached than a rival offer from Newcrest, one of the worlds largest gold miners. SolGolds shareholders are due to vote on the offer of funding from Newcrest and Maxit, a financial investor, this week.
Nick Mather, SolGolds executive director, said: We are very pleased to see BHP join a growing list of international mining companies that are interested in investing in SolGold. However, the current $33m financing with Maxit and Newcrest is the preferred option at this time as it leaves us in control of this very exciting project at Cascabel.
Shares in the company climbed 15 per cent on Monday to 18p, compared with June when they were trading at about 3p.
SolGold published what it said were world-class drill results for Cascabel this year involving copper and gold, which are often found together.
BHP has made copper one of its main exploration targets and has struck a deal with one junior this year, agreeing a potential right to get a 75 per cent stake in Canada-listed Aston Bay Holdings, which has a copper project called Storm in the far north of Canada.
In an earn-in deal of this kind, large miners can gain a bigger stake in a project by funding exploration for cash-strapped juniors.
BHPs largest rival Rio Tinto has also signalled a switch towards exploration spending and tie-ups with juniors. Speaking this year Stephen McIntosh, Rios head of growth and innovation, said Rio had a renewed focus on greenfield projects and a bias towards copper.
Attracting partners to advance exploration projects is another key feature of our current approach. This also makes sense at this point in the cycle, Mr McIntosh said.
SNL Metals & Mining, a data provider for the sector, said its P
To be such a retrace is within the realms of normality and for those familiar with technicals , the retrace seems to have reached a common 61.8 fib level and is bouncing off it . My view will be invalidated if we breached 19.5 ish .
I would expect new highs for Solg once traction kicks in . Copper after all seems in great shape.
I'd have to bearish world economies not to want to touch what appears to be a world class copper asset already attracting the big names in the industry .
A bit of sentiment here and the stock should not only regain it recent 40p ceiling but pass it .
Not sure if it's a sell rec or just the site - at the minute when I go to post anything the "view" buttons are all obscured by the Summary/News/Discussion/Chat header. I think if I were to use the tab key on my keyboard (or shift + tab to move up a field) it'd probably select one of those and I'd be none the wiser, so it might just be an honest mistake?
I'm patiently waiting for the price to reflect the ridiculous potential, we should really be talking £s over pence in my opinion!
Have noticed that over the last few weeks on most days the price opens up but finishes down/level - it's a day traders dream at the moment!
I just dont get how someone can ask for help and information on a share that (read the threads) has clear and obvious potential, yet in the same breath mark it as a SELL.
If you have information thats bring you to think it is a SELL, I would be interested to hear it. Or...what am I missing? A mistake on your part, cantankerousness, or ??
Just a reminder that BHP Billiton, the worlds second largest mining company by revenue ($70BN !), were already sniffing around Solgold & the Cascabel project almost 18 months ago !
They wouldn't have been making advances if they didn't see some potential in Solgolds operations. Exploration take time and patience, the above only adds to all the good news coming from the drilling updates.
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