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Wow! There is some real twisting of this latest RNS.
Try reading it and absorbing what it actually says.
It says we are looking for a JV for Cascabel.
It says it's looking for better financing terms.
It says it's looking for bringing Alpala to production cheaper.
It does not say it will be sold cheap, but for the correct price.
Selling therefore brings the diverse book argument into being.
So noone will buy at that price.
DFS is delayed not dead.
This is because of delayed PFS update for Alpala and PEA for Porvenir.
Hats off to CGP though… they have gone from minor bit part player, to running the show … and they have done it easily… fair play.
Most companies that are taken over have many shareholders, large and small, it does not stop transactions Quadys theory is based on BHP not wanting to pay market value, its as simple as that. He may be right he may be wrong . if they do decide to pay up they can get it;if they don't someone else can. Simple as that in theory. Obviously huge amounts of egos will need to be massaged and loads of corporate nonsense to keep the lawyers in their lifestyles but basically quite simple once you scrape away the nonsense
josephi, the critical figure is 51%. If someone bids and receives acceptances for that percentage they have control of the business and can do what they want. The big stick to persuade others to accept is the threat to take the company private and this usually has the effect of pushing more shareholders to take the money. Very few people want to be trapped in a private company with absolutely no voice or control.
In my opinion, a bidder would get the 51% here without breaking sweat.
50p Bubble? Be lucky to get 40p.
Utter shambles this is turning out to be. We've gone from meandering along in first gear to firesaling our company at the whim of a minority shareholder (CGP).
And PIs are happy about it. Just goes to show that many don't know what they're doing in these markets.
I think everyone knows an end to the ‘current’ Solg story is being engineered. How long it takes, what format and how successful it is carried out is what will decide if we those positions filling…
Hi Monte - I think your point about ‘World views’ is interesting as we now seemingly see once such conflicting interests coming together. This may well be a gross over simplification but is the clue in regards to the ‘spin offs’ mentioned in today’s RNS. Could this be NM’s price for supporting an early and relatively cheap sale of the main asset (or indeed the company when NM has the tenements he requires)?
I see there is still persistent talk of an imminent sale.
It does make me laugh, but I suppose it will have to be correct eventually.
Maybe in about 5 years lol.
Serious question then, which is if some of you think the company is so desperate to sell out, why not just announce it?
Why would the company just give little clues, apparently making it obvious it's in the shop window?
I agree with Quady and the couple of others.
We are no further nearer a sale and I see nothing in this RNS that says we are.
I think those who are constantly analysing RNS' for the slightest hint that we're up for sale are only torturing themselves, I'm afraid.
Meanwhile, I'm looking to add some more dirt cheap shares.
important to note that Caldwell will retain the description of "Interim CEO". There is no mention at all of an ongoing search process for a full-time replacement. Nor has there been any suggestion of looking for a full-time CFO.
This question is made for Quadys response
Can anyone help with the following?
let's just say there is a buyer in the background ......With so many parties involved and holding large chunks of solgold, how is the sale or part sale resolved ?
for example if BHP wanted cascabel how do they buy it ? what is the process of keeping shareholders happy?Do they just say offer 50p and if the majority agree they are able to force it through even if some share holders don't agree and want a higher price?
This all appears to be a bit of a mess.
Thanks in advance
DW? like your optimism though Solg mgt left up suspects of everything.
I would agree with you if he had been trying to flog 15% of an established operating long life low cost copper mine, and failed. 15% of a potentially long life low cost copper mine, mired in development uncertainty (with shareholder disunity in the controlling party) and no ability to influence that is something else altogether. Can you think of any entity in the world that will pay good or decent money for that? Emphasis on good, they aren't interested in selling for complete peanuts.
Someone should let the cornerstone boys know, that they need to please everyone, so there cannot be a sale.
They obviously got the wrong end of the stick. Silly boys!
Pad agree with an offer
Why do you assume that it is either OZ or Cascabel? BHP can certainly manage both, and they will have a decision to make on Cascabel soon. The DFS has been put on hold (cancelled more like it) not because it does not add to project value, but because that uplift in project value does nothing for shareholders because a company like BHP is certainly going to do its own project uplifting.
Sean spot on I said 50p offer but bit conservative there I think
I take your point 2Luke but don't necessarily agree.
Before, Sangha was trying to sell a stake of a project that everyone wanted an exit from. Now he's trying to manage a strategic review where stakeholders want a whole raft of different outcomes. So, to my my mind, any benefit derived from having full control of the project is easily counteracted by trying to find a solution that works for most.
Fort - more bluffing and bluster from you this morning. Some of us have seen right through your tedious braghard behaviour. For someone who rates his own use of the King's English you don't half make an amusing slip or two.
Why would any of you conclude we are not being sold? This is a nothing of an RNS but a sale won't be initiated by SOLG but by a buyer. All we can do is signal that we are not wasting any further resources on nonsense like going into production, which we have now clearly done.
We are in the shop window now. That's really all we can do at our end.
I don't often call for patience but there's no alternative now.
Yes I expect the sp to drift lower until we get the first sign of something shifting but at least we are not down at the 5p level that any proof of going into production would have crashed us to.
And at least the going into production argument is finally settled in black and white - it ain't happening.
Opening bid of 55p. Final price of 75p after all the dust settles.
They’ll be back!
But Pad, BHP left the disco with Oz hours ago.
Jezzoo glad you can see that too
Ortherncopper
Dismal post from you
Has there been a sale announced?! Please like as there is no RNS out yet!
Or we are not being sold. Which is it?