Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Better volume across TSX as well. Clearly warming up now and the engines revving - long way to go mind you, but when it kicks off it will be fast.
Whether it's 'fast and smart' I guess we'll find out soon. FWIIW, I think the merger will complete pretty swiftly after the EGM vote which I can't see hitting any resistance at all.
19.53 on TSX up 10.7%
CGP $4.20 up 5%
Because he has bought more than even he is comfortable with and he wants to start loosening a few off by playing other investors.
But he's not ramping. Honest guv.
TSX SOLG up 7%. TSXV CGP up 5%....RNS tomorrow?
Healthy again and the way it's pegged at 17.5p, I'm expecting another large trade posted after hours.
:)
So we don't know why red'imminent bidding war'knight is praying for a spike?
Bore off you sad act
Just wondering if red has answered this and I've missed it? Lots of people share sharketmare's concern for red, and we've not heard since?
Seriously.... how good are those Senegal fans!
Brill stuff
Yeah, that consortium seems just as likely as AA buying solg. I'm torn 50:50 between which of these two well-founded suggestions is most likely....
Any other theories? These are great. Maybe Elon could 'stock an 80p bid in'? Don't stop now, one of these must be the eventual outcome!
Or perhaps the answer is a consortium... Chinese 30% stake, NCM, 20%, BHP 30% and codelco 20%?
Double the PFS with CAPEX at $6bln and knock out 25 years of mega resources which would return enough cash to Lasso and co to manage Chinese debt and please the IMF. At end of the day... the way forward for Ecuador is through big business not preventing it due to US politics.
Fortissimo totally agree there
Honestly I wouldn't be surprised if the journalist in question reads the asylum that is this BB. Pretty sure we've covered all of that ground at some time or another, including the political angle.
I think Sangha & co must be very confident of extracting an offer from Jiangxi, probably upon completion of the merger. If they don't, we as shareholders will have been done a massive disservice as there does not appear to be a semblance of a plan B (so far).
There are real risks in Ecuador as with Chile and Peru etc. If the Chinese are brave enough to get mining in Ecuador through mirador etc then why shouldn't they be rewarded (or allowed) to take on ENSA/Cascabel. Ultimately, they have already proven their worth and commitment. What's the answer to American interest??
Anglo American plc and their 44 billion market cap.... easy... just stock a 75p bid in and it's yours.
Job done.
Thanks Italian and Paul, things certainly developing fast, See you in a week, right airplane mode on au revoir ;))
Nothing conclusive, or anyway nothing we could not have considered ourselves based on the official information. Perhaps just the Ecuadorian government angle is an additional variable, assuming that really a takeover is escalated to a matter of international clash with China.
Thank you TheItalian for taking time to post, very much appreciated.
Italian, thanks for posting.
Instead, Mather and then Cuzzubo plumped for royalty deals with Franco Nevada and then Osisko, designed to provide SolGold with upfront finance in exchange for conceding profits once the mine is in operation. The royalty arrangements angered both Newcrest and BHP leading to boardroom clashes. Mather said in a YouTube interview recently the majors want us to pump out cheap equity and by way of their pre-emption rights take control of the company without having to offer the sort of premium one would expect with this sort of …. Recruiting the Chinese has certainly ratcheted up the bid tension - with action probable in the first half of 2023. But a fly in the ointment that few have considered is the reaction to any Chinese takeover by Washington or the Ecuadorian government. The Chinese have overtaken the US to become the largest overseas investor in Ecuador. The South American country’s first large-scale copper mine, the Mirador project operated by a subsidiary of Chinese consortium CRCC-Tongguan, began production in mid-2019. But recently the wind has been blowing the other way with many in Ecuador, as elsewhere, angered by onerous interest rates charged by the Chinese for loans designed to cement Beijing’s global trade offensive. As a result, the Americans are no longer viewed with as much suspicion as they once were. Last year, the US International Development Finance Corporation struck a deal to help Ecuador repay billions in loans to China and boost development in exchange for excluding Chinese companies from its telecom networks. The US cause has been helped by the election of centre-right businessman Guillermo Lasso as Prime Minister after years of rule by left-leaning administrations. What will Lasso’s position be if the Chinese look like acquiring SolGold? Will he come under any pressure from the US? Another wild card is linked to the widespread opposition to mining in Ecuador, especially by indigenous communities who tend to live in areas where minerals are found. Last month, there were huge demonstrations in Ecuador’s capital Quito by protestors who want to block six gold-mining concessions in the Choco Andino forest. They cited threats to water sources, nature and their local businesses. Lasso will have to play his cards carefully despite his stated intention that he wants to boost mining in Ecuador to make it less dependent on oil. The battle of Solgold is reaching a climax but, frankly, anything could happen.
London is awash with rumours of a bidding war between Jiangxi, the largest copper producer in China on the one side, and BHP - possibly in alliance with Newcrest - on the other. BHP and Newcrest have been shareholders since 2016 with about 13.5% each. Jiangxi isn’t in yet, but SolGold said last week that a share raise worth $36 million would bring in China’s largest copper producer, which would speak for 6.3% on completion of the deal. A new balance of power has emerged at SolGold with Bob Sangha, head of Maxit, propelled as a key player with his firm conducting a strategic review - viewed as shorthand for a mandate to sell of all or parts of Cascabel in the new year. The big change is the planned merger of SolGold with Cornerstone Capital Resources unveiled in October which will give Maxit a 5% shareholding, and remove Cornerstone as a minority shareholder at the asset level. Instead, Cornerstone, now an ally of Sangha, could take shares in SolGold and put two directors on the board. Well-place City sources say the sudden departure of CEO Darryl Cuzzubbo after less than a year in the job on November 12 was a result of a new and powerful alliance between small shareholders such as Maxit, Cornerstone, Berry Street Capital and SolGold founder Nick Mather (4%) who is still on SolGold’s board despite stepping down as CEO 13 months ago. Apparently, Mather has given up the idea of developing Cascabel independently and has agreed instead to bring in the Chinese for a face-off with BHP/Newcrest. Sources said the decision to drop Cuzzubbo and delay both the Cascabel definitive feasibility study and the Porvenir preliminary economic assessment was rooted in a desire to make SolGold/Cascabel more appealing to a bidder by shrinking overheads. It would also accelerate the sales process - which might have been more difficult if Cuzzubbo had remained in place. The last two years have seen as series of spats at SolGold with Mather and his allies determined not to give BHP and Newcrest creeping control of the company via equity that would dilute the stakes of smaller players.
.. sprinkles ...on your turkey lol
Happy for them to take SolGold, as long as the regionals are demerged first.
Bubble, I'm afraid that reference is lost on me. Sorry to ask, but could you explain?
Miss Golightly has the sprinkles addicknt
In fact London's so 'awash with rumours', that the share price is up a massive 1.29%.
Coming from me, I know this will seem unlikely, but SH's observation about seasoning is spot-on.