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DBW, sadly one or two on here have already stated they'll be voting against some of the directors. It's pretty obvious they don't understand the situation. Hopefully they'll change their minds and issue new instructions to their proxies.
RK posted that he was voting against Twigger and Clare not long ago........
Listen to DBW...he is one of the best informed, most reasonable ans sensible posters on here.
Exactly…. Why would anyone invested here not vote in favour of their own investment??
Kevin O Kane and Elodie are resigning, and ALL of the oter Directors are vup for re-election.
If none of them are elected, BHP and NCM could end up running the company by virtue of their right to appoint a Director, which one assumes would happen immediately after the AGM and BEFORE the Merger...
In other words the point of maximum risk...
Be warned...if tbe above scenario happens I would expect the share price to be in single figures by the end of December...
If you don't like certaon Directors, don't worry because when the takeover happens they will all be gone...
YOUR VOTE COUNTS!
Agreed Add. A JV is the worst possible result for shareholders.
I've asked Quady similar questions a couple of times and they've never been properly answered. He just moves off on a tangent and changes the discussion.
Quady - we a few reasons why there has been no bid before now:
- Cascabel has proven painstakingly slow to push through feasibility, and current shareholders expected to slowly creep up the share register via a steady stream of equity dilution. SolGold has offered resistance to this as we know.
- Many potential acquirers have been waiting to see whether a satellite target for an open pit could be developed. SolGold has gone some way to prove this at Tandyama over the last 18 months.
- Potential acquirers are still naturally reluctant to make a big move in a country like Ecuador without helping shape the direction of their policy on mining. After all, nobody wants to invest multi-billions of dollars to be stopped by future governments.
- Potential acquirers have developed their own strategies, many using the last 5 years or so to attain a serious level of cash richness, letting explorers like SolGold bear the exploration risk, possibly in the expectation that commodity prices may fall before they next rise, thus providing a bargain opportunity.
Add all of that to the fact that SolGold have been heavily defensive towards an approach. Mather has always set his stall in a completely different price postcode to where an acquirer wants to deal and his influence has been a deterrent. There is simply lower hanging fruit.
But what has changed now? The merger and the strategic review. SolGold has told the market is is exploring all options. That itself draws a line in the sand in terms of everything that happened before whilst the company held aims of becoming a major minor and developing a multi project portfolio.
The goalposts haven't just moved. We're playing a different game. It's time for you Quady, if you do wish, to take solace from the fact that SolGold wasn't sold before the merger despite many saying it would be, despite the press saying it would be, etc.
But it really is now the time to come down off this hill, because dying on it is going to look very silly.
Oh and no JV by the way
What are you on about now?
I haven’t even posted today…. Are you mental as well as illiterate?
Have you decided to support the company you’re supposedly invested in at the AGM ?
Once again thanks for the apology
I still have Quady filtered, but I have picked up that he has moved his position from production to J/V, because he has to believe he is right.
Frankly that would be the worst of all options as I posted the other day...
"If you want to consider the risks of a J/V and the possible SP effects, just look at GGP, NCM and Havieron...
November 2020:
"Newcrest and Greatland sign new landmark agreements to facilitate the acceleration of early works and expanded exploration activities at Havieron"
SP rises from 21p and tops out at 37.35
SP drifts all the way down to 15.6 in October 2021
7 October 2021 PFS Results and SP spikes to 15.6
Recommences its drift down to 9.3 in July 2022
19 August 2022:
"Further to Greatland's announcement of 21 July 2022, Greatland is pleased to advise that Newcrest has elected not to exercise the option under the Havieron JV agreement to acquire an additional 5% interest in the JV from Greatland"
SP now stands at 7.5p...80% below its peak...and investors are still waiting for the crock of gold..."
Be careful what you wish for...
While I understand some on here bought for the long term and a future of production and dividends, but few could argue that is at least 7/10 years off...
And I don't think its selfish to want a substantial return in the near future rather than waiting with an investment that pays nothing while missing other opportunities in the market.
And those who fear a 'low ball ' bid need not fear a lowball takeover, because we already have three majors involved and another one stalking Cascabel...
I am firmly of the opinion that a takeover battle looms and even if the first bid was say 40p, that will be well short of the end game. After all, when you consider BHP and Newcrest's entry points, why would they concede defeat and cash their chips for less than 70/80p...
Even a successful bid that low would be a gain of 350% from the current price...
And before you say it, what you paid is irrelevant unless you have somebody else to answer to. The price is wherte it is now...18.5p...and if that does not represent fair value to you, what can you do about it?
In the next post I will repeat my concerns about the J/V 'option' with the salutary tale of Havieron, for which read Cascabel.
But for now, if you believe all the hype from Mather (at Noosa), Sangha and Irwin, this is going to get sold soon.
But even if you don't, you MUST vote at the AGM. Its been hard for me to admit it, but we must vote to keep Nick and his colleagues in post, because the alternative is for BHP/NCM to carve up the remains of Solgold in an orgy of pillage.
Thanks
Q, you mention misrepresentation, I fear you are equally guilty. Way back in time I may have suggested a bid was on its way and I was self-evidently wrong. Since then I've been careful not to suggest timelines, only that it was an inevitability. I have followed this approach with regard to valuation, as well, and have never given one.
If I may return to your view and the suggestion I've misrepresented you again. You've now accepted we cannot and will not take this to production on our own (I hope I haven't misrepresented your statements) and are now of the opinion a jv will happen, but that you are not really excited by the prospect. So, if we can't go it alone, and a jv isn't that interesting, surely the best option is a disposal?
You may be right Addicknt.
But up till now you have been wrong and said we are getting a bid often.
I accept that someone could offer us a full and fair bid.
But ask yourself a question. Why would they?
Surely we would have been bid for by now.
The CGP deal makes us less likely to sell Cascabel.
As major shareholders diluted and the increased diversity of the book, means it's harder for all parties to agree a price unless a hostile bid is launched.
No point in trying to change anyone's mind here, and certainly would not advocate controlling who can post what. So can we settle on not stating that a 'bid is coming' as fact? Anyone can see that it's not a 100% definite that there will be a bid. You can believe it's highly likely, even close to certain. But not 100% guaranteed, hence it's an opinion. So how about the posters who think there is going to be a bid say that it is just their opinion? That was, onlookers won't be drawn to incorrect conclusions.
Also, let's have the 'bid' contingent put a date on it, if they are feeling confident. We'll ignore all the proposed time-frames that have already come and gone. We'll start today. I'm still saying, in my opinion, no bid before AGM '23.
Who will give a sooner date by which there will be a bid? If you're wrong, the only consequence is a longer wait for your payday and a little message from me the day after, marking that another incorrect deadline as passed. If you're right, you'll be rich and happy, so you won't care about my apology here!
Sorry DBW, I have responded to aggression on here.
Also about you supporting Slug and calling him your friend and admitting to know him.
You don't get more disgusting than to that.
Q, the track record of the company in terms of delivering what it says is abysmal. However, having said that, I do believe the new team will, and given the evidence of what's going on, I believe we're heading for an exit.
Nothing surprises though with solgold imho
Fortissimo, likely to be q1 results of AGM now I think ,I recall someone mentioned January for news on a few fronts on here
Addicknt I will answer your question, but first if I may, you have misrepresented me again.
It's not about what I want. It never has been.
It's about being a dispassionate investor and looking at the statements by the company, their actions, the facts and the evidence.
By understanding this as much of any of us can, we can look at what is the most probable outcome.
My posts have always been a reflection of the evidence and facts surrounding Solgold.
Q, putting to one side your usual narrative, may I ask why you think a jv would be so good for shareholders?
We would be minority holders and would have little control of the situation, but even that isn't the real reason not to want one.
Let's say we end up with 20%, and after ten years the project has a value of 10bn... 2bn value attributed to us isn't exactly that exciting, is it? And then there's the issue of why any major(s) would want to have us owning anything when they quite clearly don't need us.
I understand why you like the idea of a jv, but fail to see why you think it's the road to riches.
Redknight it means nothing, we have had article's and broker notes for years stating we were going to be bid for.
It's all turned out to be complete tosh.
DBW posted it at 6.17 yesterday...hes usually first...
Agreed Copperpot, people need to answer why no bid up till now.
Then they need to answer why not.
Many things stop a bid.
The diverse book, as this does two things.
First it stops a cheap bid.
Second it stops major shareholders selling cheap, and causing a stalemate.
As you know I follow the statements made by the company and the actions taken.
We have announced that we are looking at a JV.
This has been part of the strategic review.
We know we are looking at hydroelectric to reduce costs.
This is also in the remit of the strategic review.
We are not advertising Alpala to be sold.
For the people on here that say, "well of course we wouldn't say that".
May I remind you we have said that for other tenements, so that argument holds no water.
However since the CGP deal which will be completed soon, if no complications. We now will own 100% of ENSA.
This makes it easier and cheaper to finance.
I still believe Solgold will take Cascabel to production, however we do it as a JV because that is what the company is saying.
for me, it means just that! "potential" ....It doesn't mean "probable or "imminent"!
I read into the the word "potential" the same as I do the word "possible"! Look guy's there could be a bid on Monday, but I honestly don't see the signs on the horizon. If a bid lands, happy day's for all (if it's the right price). I just cant begin to see one landing anytime soon, if ever. A complicated multi J/V for me Im afraid. FOMO applies to all the majors these days. If there was a outright buyer, it will be the Chinese. They always pay top dollar. They buy for the state and dont have shareholders to pacify!
Fishing time...hooray.
Hi all.... I’ve ****gged off this company for years. I’ve also held for years. I think we’re close now,