Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It was close last time around at the AGM but I think CGP (can't be sure) were voting with BHP/NCM then??
Should get some TR1's today if BHP and NCM pull their finger out. Wouldn't be funny if the TR1's showed they had been buying???
Can't wait to see Blackrocks! But being sub 5% they might not need to update as oversea threshold is greater than 5% level.
MMS might be able to drag it down and others but us wise shareholders know what's coming hold fast everyone gl.
Director's buying shares , Chinese buying shares and probably other hedge funds and institutions go figure !!
Exactly Gino ...
addicknt, FWIIW, I don't think there's much in it for holders with less than 2% so hedge funds not likely to bother. The main player in this (imho) is Maxit. I think they are the doing the ARB work and the recent 23m shares will help them assuming they've forward sold. Remember they have a large CGP stake. As Redknight has pointed out, they are active in the market whether that be via apparent unrelated depts/companies on the same street/offices. Perhaps they just thought it smart to short half the 23m shares ahead of AGM just in case BHP and NCM pull rabbit out of the bag??
Just received an emailed letter from SOLG with Board members and NM all urging shareholders to vote FOR ALL proposals at the AGM. They must see it as being pretty tight.
Why hold shares and not vote?
Protect your investment and get on the phone NOW! (As that looney Irishman almost said!)
I will get my £1.32 imho gla.
RNS out ,Right NM says vote for so am voting for ,just read through the lines in this rns they are saying TO GIVE BEST VALUE TO SHAREHOLDERS. Go figure it's being SOLD ....
Onwards and downwards ,don't you just love this share and all the rubbish spouted in here ,me included lol!!:):))
Thanks, Fort. I mentioned the arbitrage opportunity a few weeks ago and wondered why we hadn't, at that stage, seen any real evidence that funds were taking a position, so perhaps it's now happening. It seemed a pretty good opportunity to me and was puzzled that a few hedge funds hadn't jumped on board.
addicknt, as mentioned by a few already, it's likely there are a few ARB trading funds involved. They like playing merger stocks as there's some coin to be made through the forex gains/losses and the TSX v LSE imbalance. Not to mention the fact holding CGP shares gifts you SOLG shares post merger. So some will forward sell those shares. ARB funds will use ALGO's to work the 'trades' out for them. I think this is why we are seeing CGP TSX remain solid and SOLG TSX bouncing about by 20% on various days as liquidity not great there. Liquidity better on LSE which might explain why we are seeing greater volumes. of late.
Incidentally, I noticed that the trade information on the Stock Exchange site showed that yesterday a majority of the trades were algo transactions and not just AT. This is unusual. Anyone have any thoughts? Presumably they will not represent private investors?
Btw, the mysterious 4m trade didn't appear on the list.
Good post 2Luke, but I fear 50:50 is pie-in-the-sky stuff. And no one has yet demonstrated why, or how, a jv delivers value to shareholders. It seems to me the concept of a jv goes against everything we've heard over recent times from our new masters.
Of course anything is possible, but I believe we can rely on the new team only to pursue a route which delivers what they've argued for and promised to their own shareholders.
BHP's team are completing their due diligence on their OZL takeover. They are not the sort of company that will rush into making a bid because Jiangxi has taken a 6% stake. You think this is a Sunday morning property auction? Or that cascabel is a must have for them? Everything depends on price. They will be forced into action only when they are forced to, and the decision whether or not to bid will soon be forced upon them. Until then, why on earth would they bid if they believed they could control the direction of the company from within, sharing the costs with everyone else until they were good and ready, and believed Cascabel completely derisked before taking over. Just look at Turquiose Hill Resources. None of this is to say a bid is imminent from either the Chinese, or BHP. All recent actions from the new management since is about ending the status quo with BHP/NCM, which was being beholden to them in decision making, especially with funding. And it is when that happens that all interested parties can make a move, or be forced to decide (ie BHP). While I would prefer an outright sale of the company, or Cascabel, I am prepared for the possibility that the company eventually enters into a 50:50 JV with one or more Chinese entities (they have recently seemed to favour these arrangements rather than outright control) because these have actually worked out very well for several other juniors. There's a good reason why Robert Friedland went for it with his Kamoa Kakula deposit instead of turning to the 'majors', and they have certainly done well. If nothing else, the Chinese bring efficiency , reliable funding and operational excellence in getting operations up and running. Hardly my desired outcome, but it is a possibility. But first of all, BHP simply cannot be allowed to increase its influence over the company because their desired outcome for the company is diametrically opposed to that of most shareholders (certainly if measured by number of shareholders rather than shareholdings). At the end of the day, if they decide to takeover, they will be offering X amount of dollars and they couldn't care less whether it divided by 3bn shares or 20bn, but it matters a great deal to most of the rest of us who are invested more in Solgold than in BHP.
What on earth are you on about SharketMare.
Been out with my old company for a Christmas do.
Well done pinooooooooot
Welcome to the club
Far happier this time around
Did you see the director buys today btw?
Thats puzzling Steve...my post for you has disappeared...glad you got to read it...
I wonder if Slug replied to it and the string got removed...?
Hear ! hear !
Once again Quady Houdini disappears into the ether.
He would have made a cracking minister in Bojo's cabinet. Never admits to being wrong, never apologises, never answers a question with a straight bat and has absolutely no idea what's going on.
First exploitation should read exploration.
My take on this.... fwiw.... it’s great news. The fact that AHEAD of the exploitation agreement extension (end of next year) they intend to negotiate an exploitation agreement. If successful, an exploitation agreement is for 25 years, and can be extended for a further 25 years. That is, to my mind, something that will provide a much needed boost to the SP in the absence of a bid. If I’m a potential bidder, I.e. a major mining business, I want to negotiate that license myself. Something obvious, but I feel constantly needs pointing out on here..... we do not, never have, and never will, own the minerals we have discovered. They will always be owned by the Ecuadorean state, on behalf of the people. We merely own the license which is our main asset. If (big if) we can get an exploitation license in place prior to any bid, I think we are in a much, much stronger position.
Ok, as promised yesterday, below is the response I received to my query over the current position of the exploration license at Cascabel. Fair play to them for the prompt reply. Seems I was wrong in assuming evaluation started at PEA, but my point around the time constraints remains valid. Here’s the reply in full....
Thanks you for reaching out. You're correct, the timeline consists of 4+4+2: 4 years early exploration, 4 years advanced exploration and 2 years economic evaluation that can extend another 2 years. At Cascabel we currently have an Exploration Investment Protection Agreement (as announced on 23 November 2021) that covers the period through to end-2023. Ahead of that time the Company will be negotiating an exploitation agreement that goes beyond then, so this is the timeline you should be looking at. As announced in the Company Update on 22 November 2022, we will continue to de-risk the Cascabel project.
Kind regards.
Thank you red very concise and you make it clear in your mind we have nothing to fear and decided to sell my GGP shares at a 12% loss and add here as I see it as a stronger buy
Received my proxy form last week from Halifax Share Dealing which I completed and posted on Saturday 10th December. Just spoke with Halifax & they still haven't received my letter. Deadline to have that letter back to them is this Friday. The current mail strike means my proxy letter will not arrive by the deadline. However, I was able to provide my voting instructions over the phone which was duly recorded. Given the importance of this AGM, folks should not rely on the mail to get their votes in, but should use the phone to get your votes recorded.
Fort, if you want to see the full details of the various discussions which took place and who was involved, have a read of the CGP circular. It's all there.