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I get the impression that not many on here have read through the CGP Circular, which, although it contains all the endlessly dull regulatory stuff, has some good info.
But the most important thing is the message and tone.
In effect, what it's saying is this: ' Despite Solg's previous hostile approach, we now agree that we are better together. We've had a consistent view of what should happen here and have managed to, in effect, construct a reverse takeover and we are now in the driving seat. Our opinion has always been that an exit is the way to create shareholder value and now we're in control, we intend to deliver it. Shareholders, this is an excellent deal for us and we urge you to accept it'.
Of course, I'm paraphrasing, but this is the message loud and clear.
Quady - that is not an answer.
Anyone can repeat the same 10 lines ad verbatim.
It wasn't really what I was looking for I'm afraid.
https://twitter.com/solgold_plc/status/1602939728642600961?s=61&t=qBGJNjo2tpTvJqIkiD5Qjw
Sorry for all the questions but was the share price when BHP tried to buy the company?
4 mln trade at 17.66
BHP made a bid and as a consolation prize were allowed to buy shares at 45p...
Hubrishunter
@hubrishunter
·
Dec 12
@bigdude6669
so you were not offered Solgold new shares? How come Maxit took 23 mn shares? And they have the $SOLG stake in addition via CGP. Hope you are vocal you never got a call. What is your theory? Maxit indirectly will lose SOLG stake and now this?
Reply
I think Bob Sangha at Maxit is putting his money where his mouth is. For me, I will own enough SolGold shares once my Cornerstone shares get converted, so not at all fussed that Maxit stepped up. Shows his confidence in the future of SolGold.
ow, this is a positive change!!! Berry Street Capital says "the Board now appears to be making decisions that are in the best interest of the Company and its shareholders."
It is good to see a third party indicate that they like what they see going on. I agree with their assessment, SolGold has really started to do some good things. Market doesn't seem to care at present though.
Bigger holders than them in SolGold, they won't be driving the pricing bus.
Thank you REDKnight for your indepth reply. The one part of this that i have worry about is the time now I have been in shares before where people have said that a sale will happen soon and it has been years or has never happened. Most people here seem very sure that there will be a sell soon so i hope they are right and it does not take over a year. I cannot see a bid for this company in the past has anyone ever tried to buy the whole thing? I wonder this because it seems to have been many years since the good drill results showed that there is lots of resources in the ground do you think they were waiting for a low share price so they can get it for 25p?
Good morning Bozi, I have answered those questions many times.
We get minimal dilution.
Most funded from offtake and debt and expertise bought in.
With a JV even cheaper.
Quady - excuse me but you're in no position to demand factual information.
I put the pitfalls of a construction and production strategy to you last week and got back nothing of any substance.
You may want to answer that question first.
I'm also seeing a fortune teller this week so will be able to disclose the exact takeover date shortly.
I've just flipped a coin, heads Takeover and Tails production.....
It was heads so we are definitely on for a takeover.
I rest my case.
“Everyone can see that's an option to production”
No that’s your opinion…. Might just be a small thank you for taking the reins prior to T/O
I don't need to argue it addicknt, you made the point for me.
Everyone can see that's an option to production.
After all as announced we now have more optionality.
RK, Caldwell is only taking a pro-rated $200k p.a. Miles away from NM and Dc's ludicrous remuneration.
Onthe button Redknight1
Thank you DBW, a reasonable answer.
Only problem is that assumes a hostile bid.
I doubt that Mr Caldwell is short of a bob or two and...
Based on DC's salary it would take less than six months to pay for the shares...
If he is really short he could have borrowed the money for 3 months, knowing that he's going to make a ton when the takeover battle happens...
DBW, Q could and probably will argue, that their involvement is a precursor to a jv. However, I can see no reason why they'd want to share the asset with us (we'd bring little to the party) and, more importantly, our new masters would not be interested, despite the smokescreen contained within the SR.
1981...thats a fair post...
Did you read the articles and Warren Irwin's tweets about a takeover bid...
You see the people who say that will not happen must always be right until a bid comes, because we won't know until:
The shares are suspended or...
There is a RNS saying "the Board has received an approach whic may lead to a bid..." or
There is an announcement that a 'friendly' party has made a bid or...
A holder reaches 15% and has to state their intentions whether to bid or not or
There is a hostile takeover bid...
So people then speculate that SOLG may already be talking to a potential bidder, but again they must announce that, so...
Why is the price low?
Part of it is obviously because we have just placed 180 million shares at 16.31 and while those have all gone into 'safe' hands, it will have changed the valuation perspective for holders and buyers...
SOLG has handled itself and its PR appallingly badly for at least 2 years until recently.
Finally if, as seems likely, there is a 'merger arbitrageur" who has been shorting the shares to keep it suppressed while they buy on the other side and/or
There has been a substantial buyer who may even not yet have completed their Order, such that the MM(s) have suppressed the price while the order is built
So what will unlock the undoubted price potemntial here would be:
A bid
A positive RNS
The completion of the merger (after 9 January).
In the meantime I guess a fair few folk are nervous about the outcome of the AGM...
Hope this helps?
1981investor, I couldn't agree more with you. Now that Mr Cadwell has also been able to buy 1m. shares at knock down price he needs salary for many more years to pay for it! I think that means the directors have already decided the outcome of strategic review - ie steady as she goes for many more years. Of course you could argue that a bid would also pay for it but I somehow feel turkeys will not vote for Xmas. Hope I am wrong.
Q …. I suspect the first bid will come from the Chinese …. They will not settle for 5-6% and BHP will not tolerate it.
They started building a small stake years ago through Valuestone and have recently shown their intent to increase it.
My assertion that this will be sold is no less valid than yours of production….one of us will ultimately be proved wrong.
A question for you …. Do you believe XiangJi will settle for 5-6% ?
They have been given a foot in the door and now the rest is down to them.
Good morning rcgl2.
The problem for me with that argument, is why give us 50 million as a royalty deal, that is just to keep the lights on, and that would be rolled back should a bid come in.
You wouldn't do that.
The only reason would be is they expect to collect on the royalty deal and that means production, and to me when someone makes an investment of 50 million, they understand how this is going to be progressed to production.
Question for the people who believe a bid is coming.
Why do you believe that and who will bid for us.
I want factual information, not wooly assertions.
Add, Q, regarding the Cascabel funds, presumably because even if they intend to sell it they still need to keep derisking the project while they wait for an offer to buy it. They can't just sit there and do nothing hoping someone comes along to take it off their hands. Isn't it just that the further all these optimisations are progressed in the meantime, the more attractive the economics look to an acquiror?