Seagull2
12 Apr 2018
Re: Solg received offers from 12 big min... Hi Charlie, Solg have raised alot of cash and have over $100 million in the bank and their drilling costs have been reduced by 50% now with 12 rigs working full tilt. They have stated that they are fully funded now for current drilling campaign rest of 2018. So will be interesting to see how much they can prove up but, fingers crossed they won't be doing any more fund raising for quite a while and alot more reserves should be proved up over next 6-9 months. If there is a fund raising I would hope would be offered to current holders at a decent discount and not banksters. Solg has come along way and just need to be patient now. I made 640% profit from my original investment at 3/4 p trading along the way. If I held and was patient would have made 1,100%I am back in again with 35p average and being patient this time and holding for the long term not trading. Just got to be patient and will be interesting to see where we are in 12-18 months time. Hopefully at least 3/4 times higher than the current price is what I am aiming for.Seagull
Charlie56
12 Apr 2018
Re: Solg received offers from 12 big min... A lot of their 'skin' was gained at 2.3p, so not really much skin. They have issued a lot of paper over the past couple of years and there is no sign of that reducing. These assets are quite a long way from being debt funded imo. Not that they don't have a world class opportunity, just that we are all going to get pretty heavily diluted along the way.
jilted
12 Apr 2018
Re: Solg received offers from 12 big min... Fully agree Skint ! The difference here is that NM is ego free (unlike the aforementioned Texan) also, as you say he has skin in the game, again, unlike most of GKPs past & present management, whom awarded shares to themselves & he has an impressive track record, unlike most of the oilers past & present trough feeders. Plus, the added benefit that they are not sandwiched between Iraq, Iran, Turkey, Syria etc !I too learnt a painful but valuable lesson from GKP, as i'm sure did many others, SOLG is an altogether better beast IMO.
skint architect
12 Apr 2018
Re: Solg received offers from 12 big min... Hi JiltedI gave you a tick up - even though you mentioned "The prettiest girl at the dance" - GKP.GKP- hurt - but taught me a lot about egomaniac CEO's and to be careful with certain Geopolitical areas.I strongly believe that SOLG has the potential of a GKP as you mentioned - but everything else including a management team with "skin in the game" - give me confidence .Taking a breather today - I am just delighted we broke 24 / 25p and held (so far) - easy steps every few weeks will get us there.S
jilted
12 Apr 2018
Re: Solg received offers from 12 big min... BHP, RIO, Vale etc could buy SOLG with their biscuit budget tomorrow if they wanted to !This is a golden opportunity that doesn't come along often. GKP went from 9p to £4+ in just a few years thanks to a huge discovery (oil). Thankfully SOLG are not in the same location as GKP !Mining/exploration plays are all about patience, buy on the dips and accumulate over time if you believe in the company and the potential. They will get an offer they can't refuse one day, the further down the line that is the greater it will be !
SpreadtheRisk
12 Apr 2018
Just like Herencia? I have held these since they were 6p; the only thing that worries me is that it will be a forever drill and pump up the resource operation rather than starting to get the material out of the ground.....just like Herencia and look at them now.Admittedly I have not checked out any recent news, just logged on today (first time in a long time) to see the companies that may be interested in possibly purchasing /partnering etc etc.Is the present plan to keep drilling or are there any future plans to start to mine and actually make something of this?ThanksSTR
les paul custom
11 Apr 2018
Re: Nice Start.....! Ive got a live price of 28.7 29.2 Skint so you might even get what you wish for...
skint architect
11 Apr 2018
Nice Start.....! Well this is different.Even with a spread of almost 8% at 25.55 to 27.45 ........ the price is gradually creeping up with Google Finance showing highs increasing from 27 ..... 27.08 ...... 27.2 ....... 27.3 ...... 27.4 and just there ...... 27.45 (full ask) paid. In the 1st hour.A lot of confidence out there to pay 8% over the spread.Hoping for another solid blue day today ........ will we see 30p.....?Can't see the voting button this morning - so "Strong buy" from me.S
Seagull2
10 Apr 2018
Re: Going to call it Just glad seems to be recovering strongly now Garyob!
garyob
10 Apr 2018
Re: Going to call it That was a great call Seagull , you were spot on......
skint architect
10 Apr 2018
Nice finish For weeks all we have wanted was a small rise and ideally to hold a finish above 24p.Today has been a good day and we have certainly held above 24p almost touched 27p mid afternoon. Canada TSX looks to be continuing the party at 17% up already.Fantastic rise since Thursday's 21p - and yet when you look at the chart going back just 6 months we shouldn't be surprised to see 30p ..... 33p .....38p ..... 40p ........ (high of 46p again) and perhaps (and deservedly so in my opinion) onward from there. But each of those former targets - is a significant percentage increase - and without news could prove to be tough or take time. I will not be surprised - but I will be pleased and ...... it will be nice to be let into the family house again and allowed out the dog kennel ....... around the 40p level.My average is 11p ....... my wife's is 40p ...... ouch.S
onedb1
10 Apr 2018
Copper alone is rallying which is a great sign all around If 12 bids have come in , it pretty much confirms my view that copper producers are showing a healthy balance sheet and will be looking to make some acquisitions . A world class one is going to cost a lot more once copper moves up to the next leg . Price action is very bullish no doubts and for those in TA we smashed the 100 day moving average - easily This stock has shown 2 major trends , the first from about 4p to 46p , the second from 46p to about 20p . finding good support at that level . (20p) Am hoping we see the start of a third wave up now .I have a personal target of 60/62p eventually . But for now I would like to see 30p ish become support once and if the 200 day moving average is reached . If it sticks and consolidates I think the next leg up will slowly move to target . For now am happy we have broken out of the downtrend and horizontal chart resistance too
Hub
10 Apr 2018
Re: Solg received offers from 12 big min... Not much point in discussing bids when you're still early in the marrow season. Need to grow it some more and take care of the root. Bidders will be invited when the time is right.The Gold aspect to the assets does appear overlooked and ironically is likely to be the more commercial metal on a smaller case basis. Copper equally attractive but requires greater volumes to deem commercial for the big boys.I don't think it will be to long before SOLG start thinking about a self funded model which would or should involve a small commercial operation (possibly in partnership) to extract GOLD and use sales proceeds to further exploration.I get the feeling Nick and team are done with equity raises although can't rule out one further capital raise before more traditional funding sources (farm outs/loans etc) come into play.SP looks more responsive post tax year end and a trip back to 25's / 26's should be doable and then bring in some trend traders looking for early to mid 30's profit points.HUB
littleham
10 Apr 2018
Re: Solg received offers from 12 big mining ... Forgive me if I'm being naive, but shouldn't other bids have been announced in the same way the BHP one was? Or were they just informal "gizza bit of yer gold and we'll see you right" type things?Would have thought if SOLG had 11 other bids (besides BHP) at least *one* of them would have prompted a bit of a price rise..!?Frustrating to say the least - holding as ever!
Seagull2
10 Apr 2018
Re: Solg received offers from 12 big mining ... Should be a very interesting 6 - 12 months. An update now would be very interesting and hopefully , push us higher again. Seagull
