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Fort - 48p is just the two bags from 16p. 32p being the first bag and 48p being the second.
I'm also not sure why you think any bidder might be in the slightest bit bothered what Norges average is, or NCMs or BHPs....
These entities no longer control enough shares to control the vote.
Can I ask who "SM" is wee're all referring to please?
Ta
BN.c
Ortherncopper,
You make sound like it's all sound to Maxit? 48p would be a 3 bagger for some new entrants like Chinese, but considering the majority of large holders are 'in' at well above 28p+ such as Blackrock, BHP, Nam and Norges to name a few... do you think they'll be happy with 48p?
IMHO all Maxit need to do is get an offer presented at 38p never mind 48p. That will be enough to see some come out of the shadows and some spit dummies out. Then it's all about what follows. Bid wars, counter offers etc etc.
Any offer will need to have at least 50% of shareholders behind it before it even becomes a goer in any bid battle.
I can't see NM or BHP or Nam or Norges or quite a few others accepting 48p a share.
So stop worrying about where the share price is now and stop worrying about what makes Maxit look good. Worry about the larger shareholders here and what they might accept. They are the ones that will swing it.
On a personal level, I'd take 58p for ENSA (in current market) but would want SOLG to retain everything else and would expect an sp of 4p to 5p (after 48p paid out) based on Porvenir updates and future drilling across folio. Then I see the potential to grow from 4p/5p levels to around 20p to 25p pretty fast within 24 months on drill success and JV deals. So that would be more like 78p+ in total.
I think NM would happy with that scenario and gives all a chance to discover another Tier 1 or possibly 2 of them over next 2 or 3 years with no delusions of taking them to production this time around!
Give it a rest with your stupid ramps.
There was zero chance the merger wasn’t going to complete, so on completion nothing will change.
Losing big time on your gambling are we?
No one is going to pay your fantasy football figures, in Ecuador…………
At least readers can console themselves that you have been ramping this, since the 30s last year, so must be really hurting now
Finally, so you agree with me? Glad that didn't take all day!
The board have not held back news, SM is a fantasist, and not a very clever one.
Happy Saturday, all. Hey Rampy Red! Why stop at 50p. Why not tell everyone this share is about to jump to £10? No one believes you or listens to you anyway, so knock yourself out! x
Merger finished...starting price 50p...?
No. The board haven't held back news. There's no news ready to release. They've put the company on a track where there's no strategy but to explore a couple of options.
There's nothing illegal going on.
But the company's share price is suppressed following poor management and if they get it sold this year Maxit will come out of this smelling of roses.
I don't rubbish the majority of tripe on here, but this one is actually beyond satire. You've backtracked from a more full defense of SM, but you're left saying there is a possibility that the board have held back news (potentially illegally) to keep the share price low so that a banker they have brought on board can claim to be better at his job. Will you say, without embarrassment, that you think that's a possibility. Go on, please say that to everyone here.
I didn't say SM was right. I said I wasn't going to rubbish his claim. Bit of a difference in those statements.
I think it's fair to say there are other motives for having a share price that has softened including the ones you've set out but if SM wants to pass an opinion who are you or I to ridicule him?
I'll give you my opinion. SMs theory is a by-product of what you believe is going on. Neither of you are right or wrong.
It is adorable how you think an absence of precedent still allows for SM being right. Please read carefully what he said, and what I'm rubbishing: that the board of Solgold have deliberately suppressed the share price not to fill their nose bags. Not to make them more appealing for sale. But so that Maxit look like they've done a better job. Read that a few times and tell me, hand on heart, that that is exactly what you believe is happening here. If you don't, and you think it sounds crazy, you're with me.
Let me put it to you another way 1981.
Who brought Caldwell and Vujcic on board? CGP
Who are CGP heavily involved with? Maxit
Why are Maxit involved when SOLG had engaged Citi? You tell me.
The fact of the matter is that the SP gets walked down from 40p to 12p over 6-8 months. The merger gets announced and any directors and personnel with links to BHP get potted. Cazzubbo, Marshall, O'Kane and Cashman. Maxit gets appointed right at the very bottom.
Dress it up how we like but that's what happened.
I'm not diverting 1981. This is all part of the same argument. You seem to be obsessed with precedents and something happening before to justify it happening again.
I'm trying to put a real time view of SOLG to you with the relevant questions.
I see you trying to move on Bozi. I get it. You can't defend SM's stupidity so you're now diverting. Nice one.
I think solg are probably preoccupied with trying to get themselves sold, at a guess. Very little news until the SR is released. But not (and I can believe I'm having to say this for the 10th time today!) NOT because the board are trying to keep the SP low to make Maxit look better!! Ha! Ffs... Don't be as thick as SM.
So 1981, with that it mind tell me why SOLG won't announce a plan to drill Helipuerto? Surely you'd agree it makes sense to drill test this property with a view to feeding into the strategic review?
We also have $50m for Cascabel and no work streams. So are we saying we're going to sink $80m on G&A and there's nothing suspicious about that at all?
Just give me one link to one reputable source that says SM's crazy theory has happened even once, and I'll accept it's a possibility. Otherwise he's wrong and you've all jumped on me for calling him out.
Bozi
If there is no precedent, it's not happening here. Solg management might be a bit bumbling, but they are not risking prison to boost Maxit's bragging rights.
I'd describe solgold's management as poor- would you disagree?
I don't think solg management has a trick up it's sleeve to double the sp.
SM's statement is still total horsesh** . The board here are not keeping the SP down so that Maxit can claim to have done a better job.
1981, there was a great deal of suspicion surrounding BCN.
Personally, I do not believe this is happening here, but I'm afraid you're not right to say it's never occurred.
1981 - why does there need to be a precedent for SM to be justified?
How else would you describe the management of SolGold since 1 Apr 2022?
What options do you think SolGold management has to improve the share price by 50-100% from here not including a bid for the company?
Your answers to those questions might assist your thinking.
Bought back in here this week, with what I consider to be a reasonable amount, I can’t see any option but a buy out. In terms of going mining SOLG barely has the funding for a pick n shovel let alone building a mine. It’s a sitting duck at this price !
GLA Saints
Bozi ,O/T have a read on the link vii has posted on sml well worth a read
Lovely stuff, Bozi, but still not what SM claimed. Maybe he can help you out (although he's probably realised how stupid he sounded and has gone to ground). Where is the suggestion that the Board of Mariana Resources withheld news to keep their share price low, so that the consultant financiers acting for them could claim to have done a better job? Reminder: that's SM's claim with respect to Solgold. That's what I take issue with. That's what you've been unable to substantiate. If you have evidence that any company ever, Mariana Resources included, has done this, then I'll congratulate SM on his clear insight. But if you can't, you have to conclude that I'm right and he was talking out of his a***
Crickey Bozi ,I remember that one aswell
Mariana Resources hardly went for the big premium many hoped for and their MD took a job with the Sandstorm.
What will be your reason for rubbishing that one, 1981?
Lots of green posts I see today ,am not the only one who thinks there's something not quite right with you and your comments ,if everyone filters you then you can talk to yourself
Correct Orthern. That's how it works with these guys.