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I posted earlier that no one is paying attention to the 50 million which is ring fenced for Cascabel.
Think about it, we can only spend it on Cascabel, nothing else.
Why have we agreed these terms and taken the money.
Only one idea works.
We are Going for a JV.
Also potentially serves no real purpose for them to get the shareprice lower if they have eventual desires on making a bid - would of course allow them to load up more on open market at a cheaper price - but any real volume would soon switch the price back up.
Also if they subsequently bid at a lower price - let’s say a silly price of 20p it would be rejected anyway and would also be countered by BHP (maybe) - BHP / Newcrest may or may not have desires on SOLG but they are certainly not going to just sell their shares cheap even if they don’t counter bid
So in my mind Jiangxi will vote ‘For’ all resolutions
I guess they could Orthern - however if they did that they wouldn’t be issued any further shares by the board I would assume - also they would jeopardise the merger going through which would make it simpler if they do have desires on making a bid.
They would also open the door to BHP/Newcrest appointing a board member with a weakened SOLG board giving them more opportunity to gain a greater grip and eventuality dilute PI’s into oblivion (including Jiangxi)
One would also have thought that Jiangxi have been vetted prior to coming on the register as friendly and maybe votes were already pledged
Only my opinion though and very much like looking at contrarian angles
Obviously via Valuestone
If as many say, Jianxi are going to bid soon, to take Cascabel or Solg as a whole… surely they could vote against, try to unseat the board and see the share price drop further before making any bid? Just a contrarian thought.. why would Jianxi be so keen to vote positive to all resolutions?
Wrong DBW, I repeat what I said Bozi is a good poster.
I have said he is ridiculous for reporting me for agreeing with me.
I know we what I have said and stand by it as it's factual.
Yes its over 1% of market capitalisation of Solgold.
But we don't know how many ETFs or funds they have.
The fewer they have the more likely I am correct.
It's entirely possible that the exclusion of one fund could explain the 30 million.
I see we have Andywest commenting.
Our resident village idiot probably doesn't even understand what this is about.
For once in your life why don't you admit wrong?
Alternatively you could say you're never going to post on this site again (as you have done a couple of times in the past) sulk for a couple of days and then come crawling back with your tail between your legs!!
Andy
RCGL, I’d say with Norges voting ‘for’ on most of the resolutions is very positive indeed
Would take the ‘For votes’ to 33% and the against on 29% …..obviously I’m only counting from the significant investors list ….but Norges voting is significant - sort of cancels out Blackrock if they vote against
Then it comes down to all the smaller institutions and PI votes ……which I’d like to think will in the majority vote ‘For’ - would take quite a swing for the againsts to win
Obviously Clare / Van & Remuneration - are/is still at risk
I thought the pre-emptive rights to issue shares was an important one for the board to continue unhampered - so it’s good Norges voted ‘for’ on that
All in all positive I’d say
Any observations from others ?
Feel like Jon Snow on election days with the swing ‘ometer’
Afternoon all. No response to my question posted 01.32. Does anyone know? Appreciate if someone could clarify.
GLA
DK
RCGL…. Good find thanks
Berry Street confirmed their total support, any idea how much they control?
As an aside, I better not sell any of my BRWM for fear of crashing the Solg SP.
;)
*remuneration, before any of you pedants jump on me
Hi all.... how convinced are we that Blackrock are selling and not just being diluted below 5%? I hold a chunk of BRWM, and the holding there seems pretty consistent. I posted the link yesterday.
You can already see Norges voting on their website.
https://www.nbim.no/en/the-fund/responsible-investment/our-voting-records/meeting?m=1692874
Against renumeration report, against James Clare, against Dan Vujcic.
For everything else.
Quady, with the utmost respect - do we really have to go through the inquest every time you disagree or get into squabbles with other posters.
Asking for others to prove and detail who said what and what the meaning is etc etc …..it’s a little boring if I’m honest
Also I’ve noted it does crop up quite regularly in between any other more interesting posts - it’s sort of an unwanted distraction ……..which I’ve probably added too now……maybe played directly into the trap
Wait a minute Quady.
One minute you're saying that BlackRock aren't selling SOLG shares - it's their clients selling the funds and now you're saying Blackrock are "changing the mix".
The fact is that 30m shares is over 1% of SOLG. It's about 20% of their total holding. This isn't insignificant and it isn't due to routine investor redemptions.
You have been completely caught out on this matter and all you've done this afternoon is tried to pivot and squirm and frankly, putting all your posts together, you have made zero sense.
I'm not contesting the point that 30m isn't significant for BlackRock,bit that wasn't the argument. It's your latest attempt to try and save some face. The fact remains that it is significant for us given you are forever at pains to point out "low volumes of less than 10m" as if that has any significance.
I won't filter you because you'll continue with your misinformation just like you were giving VRS a sweet talking on these boards over the last few weeks. How about you practice what you preach and filter everyone who you argue with instead?
You're losing all your allies Quady. I've given you much more credit than many other board members have, but my remaining respect is gone.
Learn to admit when you're wrong instead of trying to shape shift, as you are on the production vs JV argument. People see right through it and it does you no favours.
Q you admit Bozi has his head screwed on and is a decent poster “Bozi is one of the good posters on here” ( posted by you within the last couple of hours)
A few minutes later “Bozi your ridiculous” (spelling as expected)
You are a laughing stock and have no clue what’s going on here …. The sad thing I’d you’re the only one who can’t see it.
You said Bozi agreed with you… he didn’t
Stop lying
DBW if you think I have said anything wrong, please state what it is, rather then the usual snide remarks people have come to expect from you.
If Jiangxi are gonna make a move in the new year it would make sense for them to be accumulating here - gives them additional cheap shares and extra votes
Although I guess one could state a similliar argument for Newcrest/BHP to be buying more to get additional votes
Blackrocks reduction was what % ?
There was that strange 40m (accross x two trades a few weeks back as well)
Quite frankly it’s too hard to judge and too many moving parts
Can’t see Bob and the board sitting back and not doing anything if we do lose though - it could well be that a loss could cause an immediate reaction from Jiangxi - they could bid on both SOLG & CGP at the same time / even offer to compensate CGP at a level to not have them disadvantaged by the merger not yet having been finalised. …..or am I wide of the mark here ?
The vote is very important - but should we lose is it really the end of the road and an instant 50% decimation of the share price ? Hope not
Don’t want to get slaughtered just before Chrimbo
Ho Ho Ho
DG
Agreed … there will be plenty of others sitting under the 3% threshold too ( Valuestone etc) be interesting to see who’s soaked up the Blackrock shares as well
But we need this AGM put to bed
Why so you can misdirect others without being pulled up ?
Bozi I am afraid it is you that hasn't got a clue on this .
If an ETF or fund changes it's percentage mix then 30 million is easily accounted for.
For example if 1% of the fund is Solgold and the fund changes so Solgold is not in it anymore, then all the shares in that fund are sold.
Usually wound down over a time period so that the shock is not too much.
You're absolutely ridiculous, you know exactly what I am getting at.
Please feel free to join the likes of Redknight and filter me.
Anybody had a tot up of the numbers >Fors = 30% (friendlies I can ascertain from the recently updated significant holders list)
Against = 32% (worst case of Norges / Blackrock go against)Typical turn out 70% (but we may get 80% as it’s important)
So of the 8% (remaining from the 62% I’ve totalled above) - if 25% (of the 8%) vote against and 75% vote
We get
36% for
34% against
If 33% of the 8% vote against and 67% vote for
We get 35.5% for
34.3 % against
But I think it’ll be more like 80% vote - 18% over the 62% we can have a good stab at
Let’s say 40% vote against and 60% for (I actually think we get a higher % voting for - but obviously that’s just a guess)
We’d be at 41% for
39.2% Against
Quite frankly if Norges/Blackrock go against us - it’ll be down to the unknowns and will most vote for the board
- I’d like to think yes - but welcome other opinions It’s gonna be tight indeed but think we will win it.
/>Please check my math as this is just back of a *** pack calcs
Also don’t know if any of the big holders have dark pools of holdings under different institute names they can call on for support
Lot of negativity here today but I’m staying positive - and even if we lose I’m not sure that Maxit and the team won’t have a plan B in place to move quickly on to counter any move the unfriendlies may make