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I think most people ( though not all ) agree a takeover to now be the most likely outcome …. Let’s hope it’s “fast and smart” so we can all move on
100% with you guys on this. now that they are in, what's their choice? sit back and let a junior with no experience, expertise, equipment, manpower,...etc to raise billions and drive the share price back to pennies with no certain outcome or just take over and do it themselves. for me the choice is obvious.
Heres an interesting take...
Tengen, the CEO of the Norwegian Wealth Fund just said at Davos "we invest for 40/100 years..."
Mind you I bet he would love to bank a 200% + profit...
C'mon DM...this is a good natured exchange and you've missed the point that I was wickedly trying to get the chauvinists to come out and fight...
I have no problem with you.
I don't think "the talent we missed" was 'high praise'...I've been lucky enough to work with some very talented people and, based on my exchanges with AS I believe she has potential which has not yet been reflected in her career and I wish her well in what is a new challen ging role with both the Chairman and CEO having exited...
As to DC...I don't think I've praised him in the way you said, but he did appear to bring some commonsense thinking to SOLG at forst, based on the then assumption that we wer in for the long haul.
I lost all confidence after the funding debacle which left us open to takeover IMO...
Lets part as friends...
Far more succinct than me DBW...it all seems to point in one direction...
Oh dear NP lets part as friends...thanks for the insight...and for confirmin g that AS was the innocent party...
Ha Red
You stole my thunder …. At least my post can be considerably shorter than it otherwise may have been.
The Chinese have to be massive favourites to walk away with this now….
New trade deal recently signed with Lasso and their copper requirements set to explode.
Add to that the Chinese government don’t have to answer to anyone when it comes to justifying their spend. I think there will be others in the mix ( the more the merrier), but the Chinese will not walk away, the mutual dislike between them and BHP is no secret and could play right into our hands.
Keep the faith, it’s coming DBW
NitPicker, you are certainly correct about people inflating the genius of any new recruit.
Sorry mate...just being nitpicking...
Where is it 'common knowledge' nitpicker?
Or do you mean she was sacrificed on DC's altar...and how did that work out...?
I've been thinking back through what looks like an 'audit trail' to an inevitable bid by Jiangxi...
Why would an investment fund set up by Jaingxi (Valuestone) with an initial $300m seedcorn, take a piffling $11m stake in SOLG and the not increase it?
Unless they have and it now sits at 2.99%, having been a 'stalking horse' for their masters...
I have no doubt that that in itial investment, which Nick clearly supported, would have given Valuestone (i.e. Jiangxi) an inside track to a lot of useful information through whatever due diligence they did..
And then, given that the SOLG/CGP 'discussions' have been going on for at least 9/10 months, and the obvious intention is to sell the company to tghe highest bidder, in the context of the Osisko deal, Jiangxi's 'investment' wasn't needed.
So was it a deliberate 'foot in the door'?
The Chinese government is seeking to create a stranglehold on REM's and strategic minerals critical to climate change management, especially though their burgeoning EV manufacture (latest Tesla sales in China are below target, but the Chinese manufacturers are working at full pelt...
The CCP already has dominance in copper and they also have a historical relationship with Ecuador, especially through the now declining oil industry and a debt that the Ecuadorian government can't yet repay..
The latter's salvation undoubtedly lies in mining...Lasso only has 2 years before the next election and needs some quick wins.
So have we been looking the wrong way on the recent trade agreement.
We've said that this makes SOLG more attractive, but suppose its actually the other way round?
Wouldn't it be convenient if the CCP (sorry, Jiangxi) first 'trophy win' was SOLG...?
I remain of the opinion that the Chinese would be prepared to lay wahetever it takes for a Tier 1 prospect in a 'partner' country.
So I am convinced that Jiangxi have either been set up for a knockout bid for SOLG or to tease out a bid(s) from other major miner(s)...viz the articles posted today...M&A about to kick off...Sangha's bread and butter...
Which leaves just one question...will Jiangxi start low and be prepared to fight it out, or will they come in with a knockout bid?
Whichever way, Nick has consistently staeted he wants 'Asset value' not 'Market value'...
All views welcome
Has anyone considered DC went because he was surplus to requirements.
Maybe he was brought in to do a deal with BHP. A JV maybe.
He may have departed as we are now looking at a JV with someone else.
I believe BHP are well and truly out the picture for so many reasons.
However they will not sell their stake.
DM, when DC was first appointed I raised a question mark over his cv - I didn't think it was as impressive as some people on here were claiming. However, after his first public appearance I too thought he was a breath of fresh air and was hopeful we'd turned a corner...how wrong I was. After a while I also came to realise he wasn't the right man for the job.
So, it wasn't just RK who made the wrong call.
Have you considered writing a memoir?
My suggestion is they (bhp)will site and wait to see how bade things get with our cash vers funding conundrum and only move if there hand is forced
In case anyone still believes Redknight, just look at his 09.53 post today.
Where he says he will explain Ingo's departure when Solgold is taken over.
Then at 10.28 today he says that Ingo has signed an NDA and he needs his permission.
I can assure that professional people take time to consider wherever or not to sign a NDA.
Those that sign don't blab to someone in an internet chatroom.
Redknight is a delusional fantasist who has an over inflated ego and exaggerated self importance.
Sorry ET...ET not DC...Freudian slip...? ;-)
Based on what happened DC you could well be right...
I have a contact on Twitter who is comparing gold, copper and a range of relevant prices/indices against SOLG's SP performance...
ALL the graphs diverge from late June onwards, with SOLG massively underperforming against them all...
As I implied yesterday, if anything SOLG is better placed now than it was when the SP was 45p...plenty of cash, 100% ownership of Cascabel, etc.
So if that was DC's role he succeeded big time...but it leaves SOLG as an obvious and very attratcive takeover target at a starting price probably lower than it would have been pre June...
So if your speculation is true, will BHP follow through...are they waiting for the first bid...any suggestions?
addickt...Ingo signed a NDA...I will open up if he ever gives me the green light..and no he has never disclosed any 'material' or 'inside information'
BTW he had a very serious cycling accident not long after he left..he's now CEO of Omico and, along with Nick, NED of LSE quoted First Tin (I have shares)
So whats the point of mentioning the MCap in your comment...?
"She's been at APC - with a MCap of c£40m - 3 months."
I'm delighted for her. She had a very unpleasant experience in her previous role.
Then she lost her job at SOLG through no fault of her own.
I'm sure you understand its much harder for a woman to get a CEO role in a quoted company...probably even harder in Oz...
She deserves to succeed and I will never stop championing talent...Ingo being another...
My veiw is D.C was there to put solg in the most difficult position possible.
Job done you could say.
His speedy removal buy the new gard reinforces my opinion
RK, I seem to recall you said Ingo had been your source. Given he's no longer around I can't see why you don't tell us.
I know people will say it's all ancient history, but if it's possible I always like to get as full a picture as I can. Trying to understand what goes on in this company is like a giant jigsaw puzzle which has far too many pieces missing.
sire_frugalman he is a fantasist.
He was supposed to be a CFO, but didn't even know what a cash box offer was and told me I was wrong and that because we didn't vote through the specials that the BOD couldn't raise cash without shareholder permission.
So he is either one of the worst CFO's in history or a fraud.
RK1:
How many £44m quoted companies have you been CEO of...?
Possibly the weakest response you could have come up with. Next time just type "ur mum".
addicknt don't be taken in by Redknight he is a fantasist .
He doesn't know anything otherwise he would say.
His buys and sells are complete fantasy as well.
Otherwise he would publish buys and sells beforehand.
After all that's what I did to silence the people that didn't believe me.