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Add it’s quite possible that not much will happen until a permanent ceo is appointed. Given the search is only just starting it’s clear to me he was fired. NC are not liked in the Australian financial community for various different reasons. SB was the same.
I have heard one view that the company will be broken up. NC has a serious negative cash flow problem for next five years. So if bod wanted to address that then the Solgold stake could be sold relatively easily, soon. For the past couple of years I have not seen NC as anything other than a seller of its stake. Probably to bhp then. but now to first person who offers a reasonable price.
The Italian, hear hear! It's not so much who is right, or indeed wrong. It's the fact that they are addicted to this board....they can't break their grip from the draw this has on their daily routine! Sounds a bit nasty....but it's true! Twenty minutes a day is more than enough if you disregard the unimportant stuff that gets posted here. I'll be interested in the AGM results, then it's time to take a break till mid January at the earliest. Nowt of any importance is on the horizon, time to catch up with family and friends in the meantime.
Good morning Italian, hope you are well.
Disagree the point of a stocks and shares forum is to discuss ideas and outcomes.
All the best.
And once again, certain posters miss the opportunity to keep their opinions to themselves.
Now, let's imagine we just don't know what is going on, and the more we postulate in absolutes and precise terms the more we are likely to be wrong, so the only one who is possibly right is the one who holds judgement until the events become clearer.
Addicknt I believe you misunderstand the argument.
I accept that things change.
I have always said that.
I have always modified my thinking as things change, that's how I invest.
We are undergoing change at the moment with the acquisition of 100% of ENSA, and because of that I now believe we go to production as a JV.
However for a bid to be successful we need to see one of the parties consolidate their position.
They need a much larger holding then they currently hold.
This is the main reason we have not had a bid up till now.
We haven't even had a stalking horse.
The point is how does Solgold proceed from here.
Remember the position has never changed that we require max value.
The only way we get that is if we continue to production.
Once we are on the way, we will see if someone will make a serious bid.
But it won't be around 40-50 pence a share, that just won't cut it.
I doubt a pound a share will cut it once we are on our way.
But make no mistake, on our way we must be.
We cannot stand still hoping someone will buy us.
Because all that will happen is our share price just lingers and declines.
This is why we have to move forward to production.
We have no choice.
Q, the problem with your argument about the "diverse book" is that you believe it's immutable. That somehow positions don't shift and people are not swayed by money.
There's not a single public company anywhere that doesn't have a "diverse book" - it's the very definition of being public. Some of them are more vulnerable than others, but all are susceptible to takeovers. How else does company ownership ever change? Aside from fund raising, what else do corporate financiers do?
Your reliance on the diverse book as the argument for why a takeover won't happen is fundamentally flawed - everyone's a seller if the price is right. (please don't fall back on your suggestion the price will never be right)
Where the nature of our shareholder register is a real asset is when we get to a negotiation - it's the perfect bargaining tool. But it will never stop such a negotiation.
Btw, NCM's position will shift with the sand.
Sorry addicknt I am in disagreement.
NCM have publicly stated on more than one occasion that they would like to increase their holding in Solgold and that their holding was not for sale.
Forget what the media says.
But you make my point on the strength of the diverse book
Let's imagine for a moment I am wrong and you are correct.
Then NCM are not a distressed seller and so will want full value or a bit more for their stock.
This means no change.
Now let's imagine I am right and you are wrong.
Then Solgold are looking to JV this to take Alpala to production.
NCM might be interested in a JV with Solgold as a partner or as a partner along with others.
The only thing we really knew about NCM under Biswas was that they objected to our use of royalty funding - a battle they lost.
There were conflicting messages with regard to the continued holding of our shares, and despite his announcement that they would continue to do so, there had been speculation in the media that they could be sellers - a view Jerry, who has a much better understanding of them than most of us, believed to be the case.
They have an important and strategic holding and are also probably the only institution who are either in the money, or are only marginally underwater.
So, the question is; are we of strategic importance to them, or are we a distraction? What we do know is that they couldn't take this on their own - they'd require a partner. So will they team up with BHP, or will they sell to the highest bidder?
Yet another twist in this intriguing battle.
Dont hold your breath...no love lost...either way...
Could NM step in if newcrest buy solgold part of the deal ?
Craig Jones was indeed the director appointed by Newcrest before he got pulled from the Solgold board.
I would actually think that Newcrest won't do anything regarding Solgold before having appointed a new CEO. The new CEO will also take a few months to settle in and (s)he won't start any M&A activities in the first few weeks. So Newcrest might be out of the game in the near term.
https://postcourier.com.pg/newcrest-looks-to-copper-for-climate-change/
Chief Operating Officer Americas Craig Jones will oversee all of Newcrest operations on an interim basis, both effective Monday.
Wasn't he the Newcrest appointee on the SOLG Board a couple of years ago? I vaguely recollect him being well disposed towards us, or is that wishful thinking, and does it matter anyway?
QUACK QUACK :))
https://www.marketwatch.com/story/newcrest-ceo-sandeep-biswas-steps-down-update-271671401021
messive week ahead
Some great games to be sure . And if you were well off and didn’t give a toss about the hypocrisy of the bigots hosting the event, you could even attend and have a drink ....which apparently now is something to be ashamed of !
Give me real football nations filled with real football supporters every time . Was I the only one to notice that ten minutes after the second half began the stadium still had masses of empty seats ; the “fans” apparently not in a hurry to finish their half time meals...or prayers...or whatever ?
Imagine this tournament with the quality of the football we’ seen had it taken place some where they could actually fill the stadiums ..
Never again in autocratic states please
Well put the pair of you. Alcohol is the scourge of football , its been proven.
Have a great Christmas guys n gals , I doubt I'll post again before.
Sorry for being obnoxious , I cannot help myself x
"any mindless thug that fancies a fight would be hung and quartered."
Why doesn't that happen on this Board...?
Best World Cup ever!
Agree gaz.... great football and classy end. Perhaps we should take a page out of the Qatar's book... friendliest World Cup ever due to limited alcohol and the threat that any mindless thug that fancies a fight would be hung and quartered.
I don't agree with all the Qatar views on xy and z.... but the absence drunken thugs smashing the place up made this World Cup one to savour.
Perhaps the world of football learned a lesson .... we are not all perfect but sometimes different cultures have benefits that should be applauded.
Is this the pantomime thread :))
Well . I didn't get the usual build up excitement to this World Cup. After all the politics ... I have to say personally I think it has been one of the best World Cup tournaments .
Very happy for Messi , and congrats to Argentina.
Over to you Solg , bring home the bacon please , we are deserving and have been ever so patient.
>>Solgold is just a flutter.<<
I have a flutter on the Lottery, I don't comment on it every day, sometimes many times a day for years.
Nobody believes that Q, SOLG is an obsession for you.
I'd stop posting today if I were you, your reputation, such as it was, is now in tatters.
Everybody can see the Emperor's bare backside.
Chilligoat ,maybe let's see
If hedge fund involvement they will be looking for a quick payday for special situations