We may well have now seen the low in SLR & a few others. Gold looks likely to punch through $1360 resistance tonight. Gold is trading like a freight train & one thing about freight trains, you don't get in front of them!
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We may well have now seen the low in SLR & a few others. Gold looks likely to punch through $1360 resistance tonight. Gold is trading like a freight train & one thing about freight trains, you don't get in front of them!
I must admit I would have thought we would have seen a bigger rise in SLR today considering what gold did overnight. Its hard to believe its still trading slightly below 50c. Gold should really have a crack at $1420 from here & if it does you have to think SLR has to break the shackles & march a lot higher.
Yes, although SLR and ALK today both had a higher low and a higher high than yesterday, which bodes well for tomorrow.
Other juniors to have done well today include RSG, PRU, PGI and AQG.
Yet another depressing day to hold SOC ....that will serve me right to go against my gut feeling on Gold producers Vs Explorers at the time I exited PGI to SOC .....>>>>hoping It will reward holding after SOC next results
SOC touched 10c this morning then shot up smartly to 12c. Now trading at 11.5c. I expected a large crossing at 10c which would explain why it's been taken so low these past few weeks...but no sign of it yet. Surely, this stock price can't drift lower. My last parcel I bought at 11c, and although it's tempting to buy more, I'm reluctant to increase its % of my portfolio (for risk mgmt purposes).
A timely announcement would bolster this morning's change in momentum. Are we due for one?
RSG has hit my target price and so I'm buying back into it today. No hedging means that in doing so I'm expecting the PoG to rise sometime this week. Sailing against the wind is a bit riskier but more exhilarating than cruising downwind -- I'm picking a rise to 1350USD by the end of next week.
The pattern with Gold appears to be: bullish until each FOMC meeting, then bearish for a week after before turning again.
BC
I don't like this IPO of MT Adrah by SOC one bit. Management are coming across to me as corporate cowboys & I am quickly losing faith. No communication on drill results for far too long & now this. How can you sell something & not get paid!
SLR finally getting off the floor today trading to 46.5c in early trade. If gold does what I expect in the next few weeks I wouldn't be surprised to see SLR nudging 70c. Finally some good news on SOC as well, I think the restructure makes sense & will hopefully mean SOC will start to trade at its real under lying value. Also any positive drill results from the JV should now impact the SOC SP directly rather than via PMR.
Well think was a better move than the IPO idea which is a joke IMHO if they needed 2mill just come to the market or the insto buyers happy to pay 18c per share but now need to set-up a new high cost ASX listed company ...overall extremely disappointed and I've have my fair share of disappointments in the market last couple years ...really over it and at this stage further investment will be heading towards Property ...
I invested into SOC as I understood we had a great discovery at "Mt Adrah" with a suit of other great investments with drill results due any day (which was months ago still waiting) guess I let greed of a quick profit rule my head ...rather than look deeper ....now I think the market has come awake to the muti interlinked companies HRS, RAF, SOC, PMR, HGL, TCM, ABZ and now the new MTL all comes across to look after the major interests at the expense of the smaller holders ..and if we did somehow find a great discovery those same interlinked companies of basically much of the same guys will reward themselves first or like HRS just de-value de-list then re-model IPO and best of all pay 100's k in wages
for doing very little for the general retail holders ....
Don't get too bitter on this one, JB. Like the rest of us, you do get to vote against the IPO at the AGM.
http://www.asx.com.au/asxpdf/2014041...m2klsj7ytc.pdf
I have a hunch the sp will climb from here, off a support base in the mid 7's.
Discl: still holding (I share your pain).
Yeah ownership structure pretty much is all interconnecting same mgmt etc and they control the vast majority of Shares in SOC so basically what they want they get in this case..
All I know is I brought SOC which assets included
-72% of Mt Adrah 770koz Gold etc
-70% of SUGEC
-100% peel fault
-78% of PMR shares
the new and twisted SOC
-57-62% Mt Adrah - MTL .asx
-100% halls peak (lead ,silver ,copper) we get three permits from the ann not all of halls peak or broken hill etc from my understanding ?
1. Sovereign Gold to acquire EL4474, EL5339 and EL7679 (PMR Sugec Tenements); Not GOLD prospects !!
-100% of SUGEC ? (may or may not get all the funding never trust the chinese)
we now go to 55% if all the funding goes ahead?
-15.5% of new PMR (which moves to more of a Gold focus)
....Basically the boys pulling the strings are taking Mt Adrah away from SOC holders this is the first move the 2-3mill funding will not last long ...much more funding will come about at likely lower SP unless the results that are released are good ...it's not hard to see by this time next year SOC will be holding much less of Mt Adrah /MTL or else why would the boys take the effort to re-list a new company new MD (not long ago came on board) etc..
Just throw the SP movement from a time we holders believed Mt Adrah was going be a monster discovery too now ....
Going forward SOC core asset will be Base metals / Silver
IMHO a Hold purely on the current market value to assets but a SELL on sentiment towards mgmt motives ....
I've got truckloads hoping for a spike to get most of my funds back >> what a bloody nightmare
BC & JB, I think you have every right to feel hard done by. The management have completely let the shareholders down. After being so promising & delivering regular drill results they have now been quiet for months on that front & now just are shuffling the decks. I had an inkling way back when they said they weren't going to report as often & I obviously wish I had followed my instinct way back then. I sold a fair few at 13 & 12c so haven't taken so much of a bath & am actually thinking of picking some up again, but will wait for a while. Probably should just look at other companies as this has been enough of a distraction already.
Yes, I've taken a bath on this stock. And what's worse, off the back of some very upbeat raves on this thread, I purchased a bundle also for my nephew. That will teach me for not doing enough of my own research.
I'm several thousand dollars out of (paper) pocket...with no let up in sight (no bids above 6.2c). I'm surprised the larger shareholders are not screaming blue murder to the asx watchdogs...or are they somehow getting a backhander ? I still don't understand the company's capital structure.
BC
Tell me about it I ditched PGI @ 4c (currently 4.1c but have been as high as 6c) to load up on over 200k of SOC av 18c(plus loading a mate into SOC stock ) I'm absolutely Gutted next ti nil interest bids 6.2c I;ve never seen any explorer become so hated on so little IMFO
no poor drill results etc ....
Silver Lake Resources' Quarterly Report is not too bad:
Production down slightly due to heavy rainfall closing Mount Monger in January, with Gold sales of 50koz.
Guidance:
Unchanged at 205-220koz per annum.
AISC = A$1,032/oz (Mount Monger which accounts for 70%)
Murchison to be place in care & maintenance (too expensive).
Hedging:
30% of Production (50k) spread evenly Apriul 2014 through March 2015 with a forward price of A$1,536/oz.
No debt with cash and bullion assets totalling $41m.
Earlier this year they successfully raised $39m issuing 65m shares at 60cps. Now trading just above 40cps and those institutional holders will have done their due diligence well enough to expect a payback.
http://www.asx.com.au/asxpdf/2014041...1m9rjwcnc9.pdf
Discl: holding.