Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Dead Cat Bounce. The "virus effect" is possibly more severe and more prolonged than money men think. Can throwing any amount of money fix markets? Short term, yes. Long term, no. And a second C19 surge not excluded! Public are now hyped up on C19 (bad)news. Velocity of money will be badly effected for a good period of time! Severe disruption has taken place and life cannot be the same as before end of 2019!
Other senior commentators feel that economies are toxically sick. It started when there was a divergence from the gold standard under Nixon. We are now in the last throw (of fiat currencies). Just my silly point of view?
Jolly bad timing for us here invested in Solg for deals to see us through, imho.
But then we HAVE Au and as JP Morgan said: Gold is money!
No
Do we have any news on the Cornerstone story.
I make it circa 30% up +
E.g DJIA from 18200 to 23800 some 5600 points
All good here DBW thanks. In the last few weeks I would guess that Solgold is a high beta stock, but generally following mkt direction, but that could be a coincidence over such a short period of time.
Trust all is well with you and your folks.
Thanks Jerry
However I bought Vodafone 2 weeks ago at 120ish and Solg at 12.5 p ish ..... we are as high or higher than we were a month ago , I’d dispute whether that’s following the trend .... as always I stand to be corrected
Hope all is well in mid Surrey mate ?
DBW, it hasnt bucked the trend at all. In fact is highly correlated I think. US mkt is up 25% from lows.
Rally from just below the 78.6% retracement of 11p (price dropped below) is in line with expectations..........
Rs
BN c
Will take a look thanks
Has the last week or so gone as you hoped / expected??
DBW
Popped my thoughts on a week or two ago m8y
Will be in me history
Rs
BN.c
Really interesting stuff guys thanks
I guess we’ll never really know if Nick is going to take this to production until it happens.
Very pleased with the way the share price has bucked the trend over the last couple of weeks .... surely there has to be more to this than the promise (and recently potential evidence) of director buys ??
Would be interested in the thoughts of some of the TA folk on where they think we’re headed ?
In the meantime enjoy the sunshine and stay safe solgers
DBW
Jerryspaniel, I do agree with you re NC main interest in the near term is,and will be with going full steam on their involvement with GGP...(and why not as the porential there is very good, fast and in a mine freindly country...).as such I am sure that half decent offer to buy their interest in SOLG will see them cashing in....remains to be seen...
That is a very important and possibly crucial question, 'Is it part of NCs long term strategy'?
I would have said that the answer was a definite yes a couple of years ago. But if you watch/listen to any of NCs presentations recently, Solgold barely gets a mention and Ecuador just creeps in at the end and its FdN that gets the lions share of that segment. So now I am not sure that Sandeep Biswas wouldnt mind cashing in and focusing on areas that give higher short term returns and less hassle.
Now I could be accused of cross promoting GGP here, and that has some truth. But he and I might think alike, as we both favour the phenomenal excitement of possibly the biggest gold discovery this century or dealing with a country that cant even collect the dead from the streets.
Good morning Jerry, the problem with that is This is part of Newcrest long term strategy. They will have fifteen percent of a gold copper producing resource. At what price will they sell. Certainly not at a valuation of 4 billion dollars. That would make their 15%, worth about 600 million. They would want more than that. It certainly equates to more than 1.50 pounds per share. Are BHP really going to offer more.
How about BHP approach NC with a whats your price. Then they offer cornerstone same price and a tender offer to market at that price. I think that would get them over 50%. Change the board, game over!
Not necessarily the best outcome but definitely maybe.
Good morning addicknt, you may well be right. I do agree with you, that if cornerstone sold out, that the scenario you put forward, becomes more likely. Also if NM accepts a deal, then all bets off. Again I think, that you are correct and many private investors, would sell up, and indeed why not for a nice profit. My problem is two fold. Firstly the cornerstone issue has proved hard to resolve, and should they stump up the cash, what then. Secondly, I cannot see NM selling below value, and although, I am much more knowledgeable about the oil and gas sectors, I do see similarities. When sells of such discoveries take place, they never achieve full value. NM says he would only sell for full value. Lastly the Newcrest issue. I cannot see Newcrest selling under any condition, except a very good offer. Yes the possibility of selling Alpala and a special dividend, with enough cash to prove up other tenements is attractive. But just think too many ducks to line up to make this work. Nice to hear from you on this.
Quady, good morning. The important dynamic here is the one which exists between BHP and New. If New are not in a position to make a full bid, which many people believe they are not, they could come to an agreement with BHP which sees them sell their shares at an attractive price. This would be the catalyst for a full bid from BHP and personally, I don't see anyone being able to stop them (we know Cornerstone would sell in an instant, as would most private investors)
The alternative is the jv route between BHP and New, which I can see may be attractive for Newcrest shareholders.
If those majors are to continue with their strategy of funding explorers, it would sense for them simply to buy Alpala and then continue to support NM as he rolls-out the exploration of our other assets. To me, this is blindingly obvious and is undoubtedly the best way to secure shareholder value.
I can only pray his ego doesn't get in the way.
Good morning RICH3R, understand your point of view, and indeed one that many posters on this board hold. If you are correct, then we get a payday sooner rather than later, and with many other share prices at historic lows, we will pick up lots of bargains. I do agree that more than two companies could own Solgold, as that's what we have at the present moment. However do not believe any one company could table a bid that would encourage others to sell. It's the share register being so diverse that is the problem. I don't see how the mechanics would work, to table such a bid.
Thanks Quady for your response
With respect, there is in my humble opinion, no way that SOLG will ever go to production - at least not alone. I accept that years have been spent verifying the assets we have but given the level we now have, one, two or more companies are going to buy us out. Time will tell ...
Good morning Talatum, the problem with someone bidding for us, is unless the bid was large, the other majority share holders would not relinquish their holdings. They want to be part of the production cycle for the money they have paid. BHP, could easily get out of their standstill agreement, by talking to NM, and discussing the terms. But although NM is a substantial shareholder in his own right, and through DGR, you also need Cornerstone and Newcrest, to give up their shares, in something that's just going to continue to grow. Why would they do that. They wouldn't. NM will obtain the funding, with little or no dilution. None of these holders need the money urgently. I got into this share seven years ago, and from day one, the same uniformed investors kept on saying their is a takeover coming, and I wouldn't want to be out of this over the weekend. They were wrong then, and feel they are still wrong. The people saying patience required have been proved right. Still some way to go.
I agree, thats why I asked.
They may call his bluff and see if he can pull it off, in the belief he won't, then come in to pick up the pieces, or he might succeed.
I agree that a major wanting this is likely to make a bid before we do go that far.
Guess we will find out soon.
There is no question about the quality of the resource now in terms of economics, so it does make sense that bids will come.
"what are peoples views on how a complete funding package to take us too production would affect a majors decision to make a bid.?"
I rather not say anything. It will give them (majors) ideas. So all I will say is once we get funding majors stand no chance and also will have another major in the name of Solgold as a competitor. So it is now or never for you majors including BHP. BHP make a friendly offer with BODs consent ( accounts on this board suggest NM ready for a bid) then there will be a counter bid and you are free to get aggressive.