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"Share price could start to motor any day"
Possibly or it could just trickle along as if no interest there at all. I know I flag Noront Resources up as an example (too frequently according to some!) but it is a good example of BHP's tactics as is Oz Minerals. On both occasions, BHP struck or made their attack when the market was NOT expecting it and the target company's share prices were subdued or near yearly lows. It's standard M&A... you want to strike when the sp is low and not when the sp is high.
After the AGM, BHP will know what resolutions have passed (so get your vote sin now if you haven't already) and post the merger deal in early Jan, BHP will be heading toward sub 10% levels. Hang about further they could see 5% going to Mitsui just to make things more uncomfortable and bring in some more exploration cash. A consortium deal on SOLG or ENSA involving Codelco, Lundin and Chinese would REWARD those businesses and entities that are already contributing revenue to Ecuador through proven commercial mines in the south. The irony is... it may well go to these companies and then 4 years into development BHP buys in. At some point, there will be a situation of 'no-return' for BHP and that can't too far away or the alternative is to pay much bigger bucks in future but for lower risk exposure.
Still think the answer is Anglo American. Possible we could see Rio or Barrick getting involved too. And perhaps the surprise card in pack is Twiggy and Fortescue. I get feeling he is just waiting for BHP to make a move and is then going to force them to go higher. Just for the fun of it!
Lol … Mathers … each to his or her own
Share price could start to motor any day
They won’t announce it until they’ve had their fill at the trough - and today was a good feeding . It’s coming though , there’s a feeling of inevitability about the process
DBW,
Like many here, I will believe this sort of cr*p once it’s in a RNS from the company, if it was true I can assure you Solgold would announce it first
Anyway, don’t build your hopes up on someone’s mind games/misinformation
Atb
Anon …. We’ll see
No, no bidding war at all.
Certainly there hasn't been any official bid, else it would have been RNS'd.
That article seems to be 100% speculation, imo.
“.... is said to be at the centre of a bidding war between Jiangxi, China’s largest copper miner on the one side, and BHP ... “
shoddy journalism. Said by who? If this were known, and true, SP would be well north of 17p. Now I’m not saying something isn’t going on in the background, I just don’t know, but if it was the open secret implied here, we would be seeing more movement on SP. it’s speculative fluff.
So, there IS a bidding war according to the article and not merely a ”potential” bidding war.
Maybe lots happening behind the scenes?
“According to sources who asked to remain unnamed, the decision to let CEO Darryl Cuzzubbo go and the delay of both the Cascabel definitive feasibility study and the Porvenir preliminary economic assessment, had the goal of making the company more appealing to bidders by simplifying the management structure”
Hmmm ?
“The company, which saw its chief executive and managing director of less than a year leave last month, is said to be at the centre of a bidding war between Jiangxi, China’s largest copper miner on the one side, and BHP (ASX: BHP) — possibly in alliance with Newcrest Mining (ASX: NCM) — on the other”
https://www.mining.com/solgold-shares-dive-despite-raising-36m-with-jiangxi-backing/
happy crimbo fellow solgers
Red ,lets see not many trading days left this year now
Nobodys getting it for peanuts Bubble...
If anyone is selling at these levels they want their head testing...
Why would they do that while Maxit is hoovering up 23 million shares...? (and others presumably?)
And a TR1 could emerge any day, even before Fawzi updates the major holidngs...
They getting this for peanuts compared to asset valuation imho ,there's someone playing this share down atm ,will it be allowed to bounce I don't know let's see what next rns says
No consoloation but CGP is down 7% also...
However SOLG TSX price equivalent is 18.6p (on no volume)...
We end the day with the sp down in pretty much direct correlation to the dilution?
Fair question brad...
The thing is, Sangha (Maxit) is a M&A specialist...he's not interested in taking Cascabel to production..
So all we have to do is guess, based on his entry price for his 23 million (£3.75 million) what exit price he is looking for...?
I'm guessing 4/5 times might do it (i.e. 65/80p) but whatever it is he wouldn't do it if he didn't expect to make a substantial profit...after all £3.75m won't be big potatotes in the context of his business turnover...
Not remotely interested in day to day price movement here now ( up or down) … pretty sure we’ll get some more news pre merger but feels like the market will only move on an offer or rumours of one ….. which is exactly what I expect, just a matter of time
I do not have a lot of confidence here it looks like it's all about the board and how much they can make they have no reason to sell.
It seems to me that from a private investors point of view the choices here are very straightforward. You either buy into the narrative of the new management team, which is promising significant change and a realisation of value, or you don't and think things will carry on as before - an approach which offers nothing other than further massive dilution, or perhaps something even worse.
If you're in the first camp you'll hold and perhaps add more; if you're in the second camp you should sell because there's no future. There's an awful lot riding on the next two weeks and coming months.
Orpherncopper,
I agree on exploration... would be great to get some drills turning and recently you had a few tweets from SOLG showing directors (new ones) looking at prospects identifying the next value enhancing prospect etc etc. But there's a few loose ends to tie up first with AGM in 10 days and Merger set to complete 2 weeks after that (approx). So just bear all that mind. 2022 was a lost year... in many ways but no point talking about plan A or Plan B and where's the exploration.... Need to get through the next month and then I would expect an indication from the Strategic Review to come before January is out.
I understand your frustration but seriously.... you need to calm it all down and decide what the next 6 months holds for your investment. If you are not confident, then I suggest you exit and find a stock you are confident in.
‘ You think BHP are the only company capable of taking Cascabel to production’
Absolutely not.. but they are required if the bidding war everyone seems to be hanging their hats on is to happen.. I have said before, I could easily see them walk away and focus on M&A of a larger scale, with faster routes to profits.. we are small fry in their scale of acquisitions.
Leaving us in real need for a plan B.
I am happy we are to monetise in some way…. And It needs to happen fast. But as an exploration company we should be targeting some of our other supposedly great prospects now we have some funds… a plan B, so to speak… surely we are capable of doing more than one thing at once.. the Strategic review can’t be keeping everyone busy.
I was once invested in a company that did a raise at 15p Six months later they were taken over at 19p, along with the cash pile just raised. It happens.
You think BHP are the only company capable of taking Cascabel to production that is interested in it? If anything, BHP’s presence and influence was what was putting off these other parties from trying to buy in. stay away from this sector for your own good.