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Assore owns 23.79% of ATL for those who missed the significance...
If that's your view lunch then don't use the BB ? simples, what will happen here will happen whether you post every minute of everyday like RK or only occasionally like shipright or italian, sit back relax and get busy living or get busy getting wound up by nonsense ...
ONWARDS & UPWARDS!!!
It would be a great pityif you left Lunch. You add a lot to this Board.
I've found life much more relaxing since I filtered 43 eejits...two in particular...
Guys you both have good points we all agree let's crack on with getting this over the line ,anybody looked at tsx price can't get it am at work
Yet....Sumitomo...and here...?
"Japan’s Sumitomo Corp has increased its share in Oresteel Investments, a holding company that owns a controlling interest in Assore Ltd, the 50% owner of South African iron ore and minerals producer Assmang."
Thats a sound post SM...white knights are usually used to defend a company against a bid. However...
I see four possible scenarios:
SOLG already talking to a prospective bidder(s)
Somebody, such as BHP, launches an insulting bid at, say 40/45p...Sangha has a party lined up to counter...a bidding war ensues with possibly others entering the fray until we do a Noront (23c to 110c)
A bid emerges from a likely successful bidder which would be followed by a bidding war IMO unless it was a knockout bd, which for me would have to be 100/200p to take SOLG out of play.
No such bid emerges as potential suitors hold their fire to see what happens (after all BHP have waited more than 2 years after they were released from their covenant), so Sangha brings a 'friendly' bidder to the table knwoing that it will trigger a bidding war.
All I can say is, I've twice woken up to find that the vale of my SOLG holding has at least doubled...this time I'm hoping for much more even than that...
Majors CANNOT keep talking about massive copper shortages down the road without finally doin g something about it...I still think there's a big game of 'chicken' being played between majors with enough firepower to take us out with 'petty cash'...
Day after day...
Market Quote 18.54/18.72
Actual dealing prices in NMS 18.57/18.59
Bid for 300,000 at 18.42...
I have to assume there is still a big buyer there...adding to the stake they are about to buy from CGP, or building a stake as a foundation for a bid...?
The vast majority of today's trades are Autobots, so I still think there is something going on behind scenes in the market.
I hope you're right red. I think the bravado on display by Sangha and Irwin either implies they are highly confident of lining up a bidder or JV partner for Cascabel (or the whole lot) or they are desperately trying to call BHP's bluff to coax out an offer from them.
If we can find a 'white knight' who is willing to table an offer around the 40p mark, BHP then have a binary choice of countering or walking away and looking at the other projects in their portfolio they've taken a stake in. At that point, I imagine the CGP lot will be urging shareholders to take the offer on the table so they can move on. Not sure the same could be said of Mather, but he might not have many options to turn to by that point.
"create companis...and then ultimately majors eeem to take them over"
Just look at Atlantic Lithium...
Lunch...if you want to put that interpretation on it then fine, but to me, taking Nick's statement and Sangha's irreverent comment I believe we are on the verge of something big...maybe life changing for some of us...and it sure as h**l aint a J/V...
At 2.55 he says "the basic idea and the model we have been following successcfully for some years is to create companis arpund very very large resource projects and then ultimately majors eeem to take them over and thats certainly the plan in respect of Solgold..."
Which means we are NOT going to production and if he said that 3 months ago, together with the CGP merger, you can bet your life that we aren't far off the big payday...
At 2.55 he says "the basic idea and the model we have been following successcfully for some years is to create companis arpund very very large resource projects and then ultimately majors eeem to take them over and thats certainly the plan in respect of Solgold..."
Which means we are NOT going to production and if he said that 3 months ago, together with the CGP merger, you can bet your life that we aren't far off the big payday...
Orthern, the logic seems eminently simple to me...
Bob Dangha IS Maxit Capital.
Maxit's business is M&A
Maxit has been retained to advise BOTH companies, not just CGP
"Pursuant to the Agreement, SolGold is pursuing a strategic review process with the goal of maximizing value for all shareholders (the "Strategic Review Process"). Accordingly, SolGold has appointed Citigroup Global Markets Inc. ("Citi") and Maxit Capital LP ("Maxit Capital") to act as financial advisors to assist with exploring value creating alternatives for the Combined Group. "
If Sangha very publicly gives a considered view for an article in which he features large, that BHP and NCM can go "f*** themselves" it does NOT suggest a sale of Cascabel because that would surely raise the SP significantly and BHP and NCM would be direct beneficiaries, making a handsome profit on their shares should they wish to take it. And why wouldn't they, as the 'jewel in the crown' would have gone...
The article would have been drafted beforehand and Sangha have an opportunity to proof read it. It strongly suggested to me that there is something big coming which won't please BHP and NCM...
Fromm3 minutes
No he said that.
Hi Lunch
In the Business Activity RNS on July 28 SOLG said:
"Porvenir is the Company's second priority after Cascabel and SolGold has engaged M3 to progress the Porvenir project Pre-Economic Assessment ("PEA") that is on track for completion by year-end."
Whch accords with your quote:
""On July 28, 2022, the Company provided an update on the progress of activities within its exploration portfolio and
the Cascabel Project and, among other things, advised that Porvenir is on track for Pre-Economic Assessment
completion by year-end"
The FY started on June 30 so it sounds like the Porvenir process began early in the new FY, so I don't see why it can't be completed by 31 Dec, unless...something else intervenes...
Lunch I was trying to work when placement of cgp shares myself I'll go with you on end of November another book closed as dbw said this morning tidying up their books for a reason imho
Lunch...at Noosa only a few months ago, Nick made clear SOLG will be sold...
Autobots haven't started yet watch this go lol!!:)
Comon copperpot big news coming before Xmas and that's not quady or Tesla telling us we going to production ...
Lunchmoney - wind your neck in mate. Yesterdays exceptional increase in price and volume was not down to this morning's annual yawnfest. That was my point if you'd read my post properly.
Tesla1 - you clearly see yourself as the new Slug. You can be as nasty as him, but you ain't as smart as him. He occasionally makes some spot on predictions and accurate assessments. youare just an irritant - clearly not invested here.
Copperpot - another long termer who tells people to be patient, to go away and chill BUT ARE ON THIS BOARD EVERY SINGLE DAY THEMSELVES.
There we go boys. Sorted.
I suspect those standing outside William Hill are better dressed and don’t have as big an ego…..
Jaysus, talk about clutching at straws!!!!!!!!!!!
I think a few need to take a break from here.
Lunch ,oh yes
Sean yep big bounce on news coming leaky ship