Gold Juniors

[JBmurc]

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

[Daytr]

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.

[Bobcat.]

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

[JBmurc]

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 ....

[Bobcat.]

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.

[Daytr]

I actually used the slight lift in SLR to get out today. I think whoever was trying to force gold last night wont have finished yet so wouldn't be surprised to see them have another crack tonight. So basically I exited as I think I can try to get back in lower. Not sure if it will break below 40c but we may see a short term spike lower in gold & shares, so I'm sitting on the sidelines just in case.

[JBmurc]

Talked with Michael Leu CEO SOC for awhile today very interesting open guy that was bullish on SOC going forward and quite miffed to the market treatment of the SP(even though I gave him may reason why I believed the market has lost faith of late) .....he understood a good part of the selling had come from a convertible note holder that had exercised into shares

...He agreed with me on Mgmt/Board stepping up and buying shares at these levels would give some faith to suffering S/H's

..Had a major investor pull out at the last minute that would have funded the drilling program of Mt adrah main reason why now they are looking to IPO to raise the 2-3mill needed for the Drill program (they tried too source new funding but to no luck)

..Believed the PMR de-investment restructure would work in SOC favour once the market understood the
upside in the Halls peak asset

..That SUGEC would be a main driver of the SP now with some results soon (also he is heading over to meet with the SUGEC team on further developing the relationship)..

..Agreed with me on free float issues was very interested in my idea's round better P.R & funding to help further SOC sentiment in the fickly marketplace

-Mt Adrah will still be a major asset of SOC with a longer term outlook of MTL CR/funding the growth of a world class resource and in time being sold or J.V into production with better returns to SOC that could have been done under SOC

-SOC don't plan too raise any funds directly for the foreseeable future ...not till at least we have much of the SUGEC drilling results in the marketplace along with Mt Adrah IPO bring results to the table...

[Bobcat.]

Ok, well that's the best news I've heard on SOC for sometime now. Good on ya' JB for making contact wth the CEO.

I can't ignore the fact however that none of the directors have yet been buying at these levels. If Mr Leu really believes its oversold, why for example is he not buying. Ask him that.

BC

[JBmurc]

Ok, well that's the best news I've heard on SOC for sometime now. Good on ya' JB for making contact wth the CEO.

I can't ignore the fact however that none of the directors have yet been buying at these levels. If Mr Leu really believes its oversold, why for example is he not buying. Ask him that.

BC

Yeah don't worry BC I did and I reckon he at least will be adding to his positions ...hopefully a few others will join in ....like I said to him in times like SOC is going through at present nothing gives more faith than mgmt buying up a truckload of weak hand shares...

[Daytr]

Nice one JB, thanks for the update