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100 per cent agree !!
DK
Morning Darren
I think we should all just ignore from now on. There has been a clear unequivocal change in strategy over the last few months, as alluded to by Bob Sangha, NM ( via DGR) and Warren Irwin. What we need is a clear press release so it’s all in black and white and it’ll leave no room for further speculation or characters like Quibbles .
Morning all. You sound a bit creepy to me Quimballs! If you know NM so intimately, and have investigsted him so much??
If you are such a good investor as opposed to a gambler , can you please give us your wisdom as to why you would invest at 17.6 pence and not think you are ever going to surpass 20 pence in the next 5 years??
GLA
DK
Shot up at close up 4.74% intresting....
Evening all. Well what can I say, we are so privileged and honoured that you have decided to join this bb and grace us with your presence! Cant be for real, right? Is it April 1st already?
GLA
DK
I think he/she actually is talking about former Liverpool councillor Derek Hatton…….
This is currently reminiscent of the SOLG market going up towards the merger vote...uncertainty and hesitanccy...
Whether through nerovousness or a desperation to get on with selling the company, I think we'll have an uncertain market going up to the finalisation of the technicalities "by late January"...
If the ARBS reverese and/or shorters close and people get a bit braver over the nexyt week tp 10 days we could see the SP into the 20s before liftiff with thefirst bid...
In the meantime, there has been more than 500k of stock turned over since the 679k trade...backfilling? In which case I would expect a modest recovery going into the close and possibly an interesting UT.
But surely that 17.90 trade has put down a marker, especially following the bounce to 18.18 last Friday...?
ALGOs have been relatively quiet today...what will ignite this SP...?
Frustrating but...someone was prepared to pay 17.90 for size...even on a modest profit projection they clearly believe it is only a matter of time before their investment looks really good...
so why the price moves? My thoughts are...
"What price to buy £121k please?"
17.90...
Done!
So, the market price doesn't rise, it just that lone bargain.
The market here is thin, because nobody is selling and few are prepared to buy more...probably fully invested and waiting for the inevitable price rise on this massively undervalued investment, so...
When people want to sell, because they are tired, bored, impatient, fearful,....the bid is lower than they might wish...
The SP opened with a UT at 18.10...fell away to 17.25p on fairly static copper prices and a weaker gold price, plus a weaker Industrial Metals sector, before recovering to 17.40...
But I repeat,,,someone was prepared to pay 17.90 to get a siginificant toehold...Quibbles maybe...?
Redknight you are not quite right.
I have never said we will not get a bid, I have laid out in detail what I think it will take to get a bid.
This is why I have stated many times that production is the most likely outcome.
Come on guys...can't you see Quady's smoke and mirrors...
He has unsubtly moved his position from 'we're taking this to production' to J/V, on his way to capitulating when the bidding starts and pointing to his recent post when he outlined four different scenarios, one of which is a takeover...
I promise you...when he is shown to be wrong he will immediately say "I always said a takeover was a possibility"...
Why oh why are you still entertaining his rude and unarrogant certitude...?
Bozi...do you think things through before you post...?
"he fact that BHP and NCM would be underwater on the averages of their own shareholdings is completely and utterly irrelevant.....After the merger completes, if SolGold issues the shares previously held by CGP to someone that isn't NCM or BHP, both parties drop to under 10%. They lose their influence in shareholder votes...."
Of course its not irrelevant...are you seriously suggesting thta, having paid up to 45p, BHP will just fold and bank a 50% loss (based on your opening bid projection)?
And NCM having carried out a review stated that they are keeping the shares as a 'strategic investment'...in other words to make money.
Your logic on their shareholding is flawed also...
Yes on the higher share cap of 3m plus BHP and NCM drop to just over 10%.
The SOLG shares that CGP hold don't dilute that...they are already in issue as part of the share cap...
However, if SOLG was to redeem those shares, BHP and NCM would rise to 10.8 and 10.7...thats 21.4%
Tell me pre4cisiely how "they lose their influence in shareholder votes..."?
Does Nick Mather and his interests lose their influence with 13.3% or CGP shareholders with 18% plus...?
Au contraire...Mather, Sangha (3% plus) and CGP shareholders are now 'driving the bus' towards the inevitable takeover battle...
Hi Stukey
2 of the trades were reversed
purchased in 5 consecutive trades at 17.90 of around 676K - price doesn't move?
Ahhh Redknight, that bidding war chestnut again.
Lets hope it proves the answer to all our questions.
Hi Scrat, there is a sensitivity analysis built into the PFS
Whilst your logic is sound, in my experience predators often end up paying more than they intended when they get sucked into a war...just look at Wyloo/Noront...
I'm not basing my hopes on NPV, but Nick consisitently has, by saying "asset value, not market value"...
I still think the final price oculd settle at 100/125p...
Bozi.. 2 reasons why we're not completeing a PFS/DFS right now...
1 Very high inflation which will fall fast this year and is not yet outweighed by cpper prices
2 Theres a bidding war coming...nobody would be foolish en ough to bid 22/25p as an openibg bid...
May as well embrace it...
SM, warms the ****les of my heart!
Good grief SharketMare you just posted that one of Solgolds options is to sell part of Cascabel.
Another way to bring Alpala to production and you ridicule me for having the same opinion.
I don't think you have both paddles in the water.
Addicknt, in total agreement with you on the shoddy comms from SOLG itself, but it's worth re-reading the AFR piece in which Sangha, who will control just shy of 5% of the company once the merger completes said. For me this puts in plain English what is going to play out here.
"The strategic review will be run by Sangha and Citi and will consider selling part or all of Cascabel, among other options. Sangha says the strategic review heralds the end of an era where SolGold was “pretending they were going to build a block cave” mine.
It now seems far more likely that SolGold will sell part or all of Cascabel and use the proceeds to return to its core competency; greenfields exploration.
“We are going to do what we should have done six years ago; monetise this in whatever way maximises value for shareholders,” said Sangha. “We are bringing it to an end fast and smart, rather than slow and stupid.”
SharketMare please can you put up any link from Solgold that shows they are monetizing Cascabel.
I believe the the phrase used in the strategic review is to advance Cascabel.
COMPLETELY DIFFERENT THINGS.
good morning rcgl2 you may be right.
But no announcement has been made to sell Solgold or Cascabel.
Yet we have made announcements that 20 tenements equating to 10 properties are up for sale or JV.
So when people say things like well they wouldn't announce it would they.
We know that's just not true, as we have announced what is for sale and what isn't.
But yes the DGR position is different to the Solgold position and we see that in all announcements.
SM, I completely agree. I was merely saying I understand how someone could see the statement differently, particularly if it supports your existing argument. In fact, this is true of many statements issued by the company over the years; as I said the other day, they've been the masters of ambiguity and obfuscation. It would be nice to see the new team address this problem and to speak plainly in the future.
Addicknt, it's a moot point: the people running the company are aligned with the DGR strategy. They're all working towards the common goal of monetization of Cascabel. It's simply a question of how and when at this point.
rcgl, in fairness to Quady, it's possible to see how NM's statement could be misinterpreted.
Q's argument seems to be that this relates only to DGR's position. The counter-argument is that it refers to Solgold. I know which of the two I believe, but there is a degree of ambiguity.