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01/11/16
15:14
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Originally posted by waiken
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Sell side has looked suspicious for a while Poverty Boy.
I believe we have had a program operating for a while. This morning at one stage 8 out of the top 10 buy orders ended in the same 3 digits.
My hypothesis is we have a large accumulator looking to get in under 0.12. and hold the price under 0.12.
0.12 is a critical level as 12 mill unlisted options expire on 30.11. If they are exercised it doubles the 1.48m cash held at 30.9.16. This gives the board over 6 months of breathing space to organize the AJQ line of credit and remit part or all of the loan to AJQ. It also gives time to sell some shares or float another subsidiary.
The capper will fight to keep the price under 0.12 knowing that uncertainty over the treasury will help supress the price. 10.5 cents is the front line. Beyond that we go up in half cent increments and can move to 0.12 quickly.
It is time for the option holders to show leadership and exercise the options even if the price is under 0.12. It will be a huge confidence boost to other holders. It will weaken the resolve of sellers.
I have NTA at 0.26. The increase in holding in SOLG by Warren Irwin is a massive boost for SOLG and should push it much higher which could get DGRs NTA above 0.30 this month. Google Warren Irwin for his pedigree.
Waiken
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28 pence was said to be resistance for SOLG and the next level is apparently 34 pence. I haven't looked at it myself but if this is the case we might see a run up to 12.