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If it's not impossible, name another company where the sp has been held down deliberately by the company's own BoD in order to allow a banker they've instructed greater bragging rights. This was SMs claim, which is what I'm calling out.
It's unlikely, but not impossible.
With respect, that's not what SM described, is it?
Solg are not aiming for a management buy out, and SM claimed it was so that Maxit could claim victory, not a cheap buy out.
1981, actually it has happened. During the '80s and '90s it was a ruse employed by managers as a prelude to them leading an mbo. Both private equity and managers made fortunes in the process. Eventually the market woke up and it's far less common nowadays.
Agreed, Orthern, so SMs rubbish about BoD deliberate SP suppression is just as thick as it sounds.
That 16p placement is gonna be what Maxit or anyone else measures any outcome against… that was a cut price placement level that illustrated quite well, the lack of interested parties out there for Solgold these days…
Even IF Maxit could engineer a triple priced buyout from here, it would only see a 48p final price… they will see that as a fantastic achievement… a sale at triple the price…… but for long term holders, it’s quite a painful lesson in the hype of an asset, against reality, and shows how poorly our asset has been handled over the years by our management…. I think I’ll now be quite happy/relieved to exit if we ever get to mid 30s again.
Hang on, Bozi, wtf are you going on about?! In response to SMs wayward brain fart, I asked for a company where the board of directors has been shown to be holding down its own share price. Not to attract a bid. He suggested that they were keeping it down, by failing to release news about regionals, so that Maxit could claim they had done a better job, by getting a sale from a SP of 16p, rather than a 50% gain from 40p or similar. Which of the companies you have listed had a BoD that was keeping the sp low in order to flatter a banker? Because if none of them have been shown to have done that, you haven't answered my question, and SMs thoughtless point remains thick af: my original point.
Who's being deliberately thick, 1981?
Noront and Turquoise Hill had Wyloo and Rio Tinto as largest shareholders respectively.
Are you going to be deliberately thick and insult my intelligence by suggesting they weren't influencing those companies to creep into control?
With Noront it's fair to say BHP spotted this and bid Wyloo up. With Turquoise Hill Rio made their paltry offer before the same happened, which was initially rejected by the rest of the TH shareholders.
The point remains. If you don't want to be taken over you do everything in your power to increase the share price. If you do then you put on your Sunday best and that means a bit of short term pain for shareholders.
I certainly won't join you countering that other point. You can guarantee that Maxit will feast off whatever gain is eventually made from the 16p SP when the merger and strategic review was announced. Even if its only 50/100/150%, they'll tell the world they sold SolGold. That's how pretenders like Sangha get their reputations.
Bozi, don't be thick on purpose, it is not becoming. I asked for a company that had deliberately suppressed it's share price in order to claim victory when they land a middling bid. Where's the evidence that any of these companies did this? I'll wait! But you'll never admit SMs original statement was horses***, will you?
SMs other point, which I was countering, was that there was a deliberate lack of news to keep the share price down so that Maxit could claim a 300% bid. Come on, join me in calling this out for the nonsense it was.
1981 I think we can now say with certain that others on here don't hold you in the same high regard as you do yourself.
QED.
DartFrog - it's not just that IMO. SolGold are now well capitalised but they haven't announced any plans at Helipuerto or elsewhere.
Es a change of control outcome from the strategic review is one dimension but if SolGold had any care for the share price they would do some regional drilling, do some PR, etc etc. But they're not.
The investment case for buying SolGold is hope. Hope for a positive outcome from the strategic review. Thst is why the market isn't interested.
1981 - you have completely missed my point. Quite surprising for the high intellectual we have all come to expect.
My point wasn'tthat regional news has impacted the share price. It was that a lack of regional activity and focus has impacted the share price. Investors like to buy companies that have exploration ongoing, work campaigns and other catalysts to share price appreciation. SolGold has none of that right now, regionally at least. Think it through.
I see you have met me half way on the second point and i agree with you about ranges. I never said anywhere that someone was getting SolGold for 17p but where do you start the bidding if the share price is 30-40p and steady? Those lower price points get squeezed and the middle of the range comes into play. Some like Mike Henry at BHP are on record about where they want to be dealing and that's why we've seen the lasf 6 months of action from SOLG that we have.
To answer your question, the good shareholders of this forum will tell you that Noront, Oz Minerals and Turquoise Hill were all bid for from suppressed share prices. All within the last 12 months. How do you like those apples?
No googling involved. I'm getting my Saturday jobs done and watching Andy Murray.
Whilst I do believe SOLG will get a bid for all or part of it's assets, I have to concur the market doesn't see or know of one ATM.
Any sniff of interest in the background would result in a rerate for no apparent reason followed by even more (if that were possible) conjecture until such interest became common knowledge.
I don't think any of the majors have reached that stage, the Chinese are a completely different kettle of fish however, a bid from them could appear at any time.
That's why I'm still invested.
Bozi frantically google searching and, predictably, coming up with nothing.
As night follows day, another poster who doesn't like an opposing view has claimed I'm not invested. When will they get it through their skulls that one can be invested for the long term, but still be unimpressed by the current share price and believe there isn't an imminent bid? Just because it doesn't fit your hopeful mantra, does not mean I'm not invested. Swing and a miss, fool.
Dartfrog shares my view that a bid isn't imminent. I give it a day before one of the tiresome old farts on here claims he's just deramping.
Is a complete waste of space not to mention a waste of everyone’s time reading and replying to his anti Solgold ranting! I have him filtered as he is clearly not invested in Solg and is only here to disrupt either for personal gain ( not sure how that happens but hey ho!) or maybe he has some mental issue requiring him to upset other people? Either way his posts are disingenuous and he should be treated with the contempt he deserves! So do us all a favour 1981 and slither back down your hole and stay there
Agreed DartFrog and Copperpot.
The share price is only 16p. That means there is little demand for or interest in SOLG shares because the ‘market’ does not believe that anyone is about to bid for the company. This does not mean that a bid won’t happen sometime in the future, just that one is not imminent. The ‘market’s’ view is a good indicator of such things.
Frog
I do indeed copperpot lol!!:), Time will tell where this goes ,ooh I see our resident green poster has arrived ,I'll leave that to others to deal with him
Bozi
News about regionals is not connected to share price suppression. Think it through.
And all parties looking at solg know what other stakeholders paid for their share. So they won't be duped by a 'low starting price' like some kind of tempting ebay auction. That sort of psychology might work on individual purchases of goods, but it is not how takeovers work. Anyone looking to buy solg will have a serious of price points pre-discussed. An ideal price, and acceptable price, a high price they are willing to go to, and an amount their share holders couldn't tolerate. And any bidder would start low and build up, but you must realise no one thinks they are getting solg for 17p a share, so 17p or 30p it makes no odds. Maxit know this. Why don't you ask them if they are suppressing the share price to tempt in bidders?! Reference a single time a company has done this. Just one. Ever.
I'm waiting.
"This will be sold soon imho"!
Jaysus bubble, please refrain! Do you talk in your sleep? We hear you, you have told us every day for 3 years now!
Not being nasty buddy, but you're beginning to sound like a demented parrot.
Bozi ,very well explained there am in total agreement with you ,this will be sold soon imho can't sit at this level ,money in the bank,no activity for much longer imho,I've filtered 1981
1981 - you clearly think you're quite bright, don't you?
Well it is you that is missing a rather large point.
Plenty of stakeholders in Cascabel have been interested in monetisation or fast-tracked development ever since the scale of the discovery became apparent 5/6 years ago. For example, CGP management made it clear they wanted an exit at a premium and we know how the Ecuadorian government would love the stimulation to their economy that production would bring.
SolGold seems incapable of delivering production this side of 2030. That suits nobody. It also pushes stakeholders towards a change of control to someone who can do what SOLG can't.
Now, consider yourself in a public auction. What tends to happen to the price of the asset before bidding starts? It drops to a level where the first bidder cannot resist the temptation any longer, and away we go.
SolGold management has been different shades of poor at various stages in recent years. But they know that the best chance of getting this sold is to dangle a carrot in front of all interested parties. That carrot is all dry and shrivelled when SolGold sits at 40p.
So,the font of all wisdom, you might want to consider that before you deride it. Otherwise I'll happily take an explanation as to why SolGold has announced zero activity at it's regional assets despite just pocketing c. £30m from Jiangxi and $50m from Osisko for Cascabel when all studies have been postponed?
Ha, the answer of a man with no answer. Sorry to embarrass you, SM, but you seem fairly eloquent, so maybe just read and think about what you post. Then you won't make claims that sound ridiculous on reflection, such as 'the board are deliberately avoiding a so rise so as to get a bid from a lower starting point, to claim victory'. The board. The actual board of a company. Face palm.
1981, not even going to bother writing out a proper response. You seem rather rattled and have misunderstood my post. Enjoy the weekend. I'll sign off with a smile like your former alias on here, you sad act :)
Sounds logical, SM- the company are trying to keep the sp down so they can sell cheaper. Do you even read the crap you post?!?
They could put out a message like the one from ALL, but for one little spanner in the works: an RNS has to be factually accurate... So you can spin things however you like on this message board, including the frankly bizarre rubbish you've just sent, but the company can't put out an RNS saying there has been interest if there hasn't.