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The ultimate driver is this... Guys like DarrenB conveniently ignore hard cold facts ; X
"Chief Executive Officer, Nick Mather commented, "We are delighted that, following a significant drilling effort at the Alpala Deposit, the Company has been able to release its third and improved Mineral Resource Estimate. This significantly increases our confidence that the economics identified in the PEA are achievable and are based on a bankable porphyry orebody. The increase in Measured and Indicated Resources, which contains almost 22 million ounces of gold and 92 million ounces of silver as a by-product, to about 10 million tonnes of copper, coupled with favourable metallurgy and concentrate quality provides a robust platform on which to base our forthcoming PFS."
Good morning all, as you know I am about 20 minutes behind live prices here, got to agree with Colonel, we will see a price rise today. The price this morning, was an obvious spoof. And as someone brought the smallest amount of shares, this share recovered. Next trick, will probably be to Increase amounts on offer. This is finishing above 23 pence today.
Seems a lot of varied opinion here. Extremes from both sides. I guess the ultimate driver of the share price will be the price of gold. That looks very bullish for quite some time into the future. When we get into production this should be a money making machine. Until then sentiment will play a role in the ups and downs. Must say to me this looks incredible value here so have tucked a few away....
the manipulation around 23p yesterday was obvious for all to see and with the after hours action, I was looking forward to seeing how they try and spoof the book and retain 23p today. It's early trading at present so will be interesting to see how they try and cap it again today.
Gold $1860 makes this even more of a bargain, mine can be financed through gold only, with the copper being the icing on the cake. As the world economy gets back in shape so ESG issues will force copper to new highs, so whoever eventually gets the stuff out of the ground it’s going to be a win win. We mustn’t forget Silver as this is playing catch-up with gold currently $22 all adds grist to the mill. Theres going to be one huge party of consolidation in the precious metals industry, maybe we will be the ones to bring out the punch bowl.
There was much talk about exactly that approach from NM about year or so back. I can’t recall the details but there is a surface gold feature which was talked up as a quick to production option from which they could ‘bootstrap’ the alpala mine construction. NMs phrase, and nowt to do with Bootstrap Bill in Pirates of the Caribbean.
The way gold prices are going, I think NM should consider doing a smaller Gold pilot project alongside the major mine development. Could zone in on a smaller area and do a small scale mine development. Set up costs around $60m and knock out 120koz to 140koz. That would pay back in year 1! Would deliver $100m+ in cash flows to finance all the other folio targets. Coud easily be financed through Streams or bank loan. Would take around 18months to deliver production. With Gold at $1250oz it's more of a 3 year pay back project. But with gold likely to be 1800 to 2400 levels over next 2 to 3 years, it makes perfect sense.
Anyway - it's a bit late for taht now as BHP or NCM or Rio are not going to allow SOLG to follow in their foot steps. One of them is going to gobble this beauty up especially as their cash balances are swelling to record levels at present with precious metal prices soaring.
Just like to add, that recently, NM was asked on one of the webinars, has he had any offers for Solgold. He never said no, he just said, I am not answering that. He could have said no, but didn't . However if he has received an offer, according to your post, he would have had to announce it. Since no offer has been announced, it means one of two things. First no offer has been received, second an offer has been received, but we are under no obligation to inform anyone.
Good morning ToS1963, I don't believe Solgold would be breaking rule 9, as external parties would have to have been approached, and the company bidding be actively share building. All the protagonists, are not in that phase. I have always maintained, that the distribution of the share register, made this difficult to launch a friendly takeover, that they would have to go hostile. I have seen no evidence, that anyone has been approached to say, how much would you sell, your holding to us for. Although you could argue, that's exactly, what NCM are attempting to do. In this case, I maintain, that if the BOD, was approached with an offer, it could be rejected at board level, forcing the bidder to go hostile, if they disagreed with the board, on wherever, this was a serious bid or not. But in order to do that, I suspect, other major shareholders, would need to be consulted before, to see if their bid had any chance of success. I see no evidence, and don't believe BHP would behave in this way, as their standstill agreement, precludes such behaviour. I also don't believe NCM, would let their holding go, as they know what they have. I think, they would like to add, but fear dilution, not in general, but to their shareholding, hence not liking the Franco Nevada deal. NM has seen that this is the best outcome for all shareholders, and we are no doubt in an exciting phase. All the best .
BOOM time baby. My predictions won’t be far off, we are now in full blowoff mode in the metals sector. Everyone has woken up. One fund supposedly bought Or plans to buy 8% of annual supply of physical silver and more will follow.
Gold $2,000 within 2 weeks. $2,300 before October 15th.
Silver $30 before October 15th
Copper $3.30 before October 15th
PFS should use the following assumptions if it was down to me: $2,000/$25/$3.50 at a 6% discount and a 7% higher recoverability - we’d be talking $8.5 to 9bn. Adjusted for everything 100p a share.
My take as a LTH..... I bought into SOLG as explorer, not producer, but I am hooked in now with a good amount and I need to play along with the strategy even if I am not planning to wait forever. I think we could have sold between 60p and 80p in 2017 if NM had taken a different direction, which would have spared us a lot of pain.
when a firm intention to make an offer has been communicated to the target board by or on behalf of a bidder when an acquisition of an interest in shares gives rise to an obligation to make a mandatory bid under Rule 9 of the City Code (see stakebuilding and mandatory offers) when, following an approach by or on behalf of a potential bidder to the target board, the target company is the subject of rumour and speculation or there is an untoward movement in its share price when, after a potential bidder first actively considers an offer but before an approach has been made to the target board, the target company is the subject of rumour and speculation or there is an untoward movement in the target company’s share price and there are reasonable grounds for concluding that it is the potential bidder’s actions (whether through inadequate security or otherwise) which have led to the situation if negotiations or discussions in connection with a possible offer are about to be extended to include more than a very restricted number of people (other than those who need to know in the parties concerned and their immediate advisers). The Panel has advised that it should be consulted prior to more than a total of six external parties being approached about an offer or possible offer including, for example, potential providers of finance.
Ok to disagree ToS1963, I know that, if the BOD, do not get a serious offer, which represents fair value for the company, then they do not have to put it to shareholders. At that point, if the person submitting the bid, then they can announce it independently, without BOD approval, and go hostile. Good luck with that, at 40 or 50 pence.