Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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The PFS was rigorous enough for the majors to build on and perform their own DFS.
The bit about the shambles was irony copperpot...
Match your 2 million an add 400k...
Delighted to know you're still in, so why foresee a long haul to production that clearly isnt going to happen unless you swap your shares for the successful bidder...
SP holding up despite the dilution...
I wonder if its Jiangxi or Mitsui who have been buying in the market....
If the latter we have at least three prospective bidders including BHP...
No Sid..dont worry, we wont get that far...
Another day in Solg, yet another dilution, further eroding the value of our stake. No further exploration news, no details on the long forgotten mine design or build, and no sign of a bid.
Clueless, directionless, and treating shareholders like mugs.
I've explained that anon...
They dont want to sell CGPs stake pre merger because it reduces CGPs ultimate gain so they issue new shares now with the intention of redeeming the CGP stake post merger.
The issue says to the market "were fully funded fir the foreseeable with the Osisko money.
This issuance (with none to BHP) dilutes them further, pusses them off even more and shouts "out up or shut up"!
Depending on how quickly the bidding starts we wont need the money and the successful bidder can sort it out.
Finally, the CGP shares and the new 180 million can all be voted for the AGM resolutions and to keep Nick in place.
Why are Elodie and Kevin leaving? Because they have no long term role...
Sid, that depends upon who you listen to. Irwin/Sangha think it isn't - others seem to think it's critical. My view is that the majors already know enough, particularly given the level of dd that will have been conducted by them over recent years.
RK, this isn't a shambles, like you like to portray. It's bid business in work!
I'm not out, I still hold over 2 million shares at a average of 4.6p. I've invested in this mind boggling opportunity, unlike you, I'm not a trader!
I am a novice in this area so just like to know how important a DFS is in a major's decision making when it comes to bid for a project like this (are they waiting for DFS before they start bidding)?
It's a poorly written RNS and unclear. It's still non dilutive (apart from 25m shares) if they cancel the 6.7% shares post merger. My guess is they are keeping their option open until after the AGM resolutions pass or fail etc. If they get award to issue another 1.6bln as per motions, then I suspect they will cancel the 6.7% shares which would effectively make today's placing non dilutive.
It's unclear at this stage whether CGP will have 20% voting power at AGM as merger not completed. Based on that, it's going to be a bit like last years AGM as the ownership structure has moved but not swung that dramatically. BHP and NCM will not be diluted down to 10% levels if the merger is not complete by Dec 22nd.
Looks to me like the TSX regulators are taking their time and that's a headache for SOLG and CGP.
Ask yourself a simple question...why is this apparent shambles happening with clever people like Sangha, Irwin, Sandeep Singh, Nick, Chalmandy involved unless theres an alternative explanation...
BID(S)
RK, so if a takeover is imminent, why would they sell 6.3% now?
That just doesn't make any sense to me at all.
Morning RK
Fair play you mooted Xiangju many moons ago
Bet your phone’s been ringing off the hook?
So much delusions it's frightening!
copperpot you're talking rubbish...either you're working for BHP or, more likely you're out of SOLG...I hope youre looking for a cheap entry because otherwise youre going to rue the day you missed this...cant you see what's going on..
Of course it looks like a headless desperate shambles because the decks have been cleared for a takeover...
Not to late...17.20 is a cheap entry...you'll thank me...
RK, it will be fascinating to see how BHP/NCM react to this. How long will it take one of them to talk to the Aussie press with a comment along the lines of "we are disappointed to note...blah,blah".
Sangha and co must be really pishing them off.
Orthern....its Sanghas ability to complete a deal...look at Noront and OZ Minerals...
We may not even need the additional $80 million if bidders get their skates on...
Now the only question is...who's got the other 25 million and are they so that somebody can make a quick killing post takeover..?
And when di we get "the Board has received an approach which may lead to a bid..." ?
orthern, do you really believe it's that hit-and-miss? If investors are prepared to pony-up 36m, is it your view they've done it on a whim?
I am more positive about SOLG than most. I just don't happen to be delusional.
Maybe 180m shares issued as CGP think they will earn a bucketload of cash by keeping their 155m Solg shares as they fully expect a bidding war to kick off probably pre AGM.
Anything is possible and I for one have always said Solg ownership will head to China.
Happy with the announcement.
Is a bid still imminent? No it isn't, and never has been for at least the last 2-3yrs. I feel sorry for any new investors during that period that were duped into buying on the hype that a sale was imminent!
Some people have no shame, they still persist!
I hope your right Red…. But as I’ve said before, I have serious doubts over our boards ability to close a deal.
The merger is not complete, Osisko is not complete, and this mornings deal is not completed… all hang on DD.
Give it a rest now 2Luke it's boring and does not add anything of interest to the conversation. How much are they paying you to be negative.
The Board of Directors of SolGold (LSE & TSX:SOLG) is pleased to announce that investors, including Jiangxi Copper (Hong Kong) Investment Company Limited ("Jiangxi"), (the "Investors") have agreed to purchase 180,000,000 shares (the "Investment Shares") at a price of US$0.20 per share (the "Investment"). Jiangxi has agreed to purchase 155,000,000 of the Investment Shares. The Investment Shares are expected to raise gross proceeds of US$36,000,000.
Was half asleep this morning. As per RK1 - these are indeed new shares. Jiangxi are buying 155M of them. The number is confusing as it's so simlar to the 157.1M that CGP hold. I wonder if those will still be sold.