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11.18% up on the week - I'll take that. Copper on a good run too... let's get some more positive RNS's out next week which you've been sat on for ages Solg to keep this momentum going.
Thanks for bobbing in Daryl, Scott... I hope you brought a For Sale sign to your first day at work?
Have a lovely weekend ladies and gents. C
Well said Fortissimo.
It's actually very embarrassing for Henry and BHP as majority of the city will say ...."disappointing high-cost" finance option vs what Mr Henry?? Vs an equity placing which sees BHP gain another 3%+ in a junior at a low cost?? And at what cost to 'all' shareholders is that Mr Henry?? Dilutive cash raises via the market that line Super Majors pockets with cheap shares is the way to go isn't it Mr Henry?? Well, perhaps it is the world class calibre of Alpala that makes getting a royalty deal done in the first place as there are many Juniors out there that can only dream about that and instead have to succumb to cheap placings.
What I dislike most is the arrogance of Henry and BHP. It's like he doesn't understand that bulk of shareholders do not want the high cost of dilution. And as we've discussed already, it's only high cost if you offered SOLG a better deal Mr Henry. It's just a shame that you couldn't say.... yeah well... look mate, we offered them $25m at 45p and they took the high cost royalty option or more like... yeah look mate... we offered them $25m at 18p so I guess they took the right option with the royalty deal.
If I were Lasso, I would be thinking about other players like Fortescue and Rio or Anglo as potential partners in Ecuadors mining future. Not some arrogant self interested tools like BHP.
He makes a good point.
I would imagine in the corporate world it is not the done thing, for a CEO to comment on the actions of another company. Even if they hold a small stake.
Is the CEO of BHP allowing his mouth to betray his thoughts
An interesting comment from Mr Irwin:-
https://twitter.com/bigdude6669/status/1591153771484413953?s=46&t=ddOuVHaRXKUZiQ_eqNYt_g
Why Darryl was shown the door?
Jerry - how do you feel towards Newcrest now? You seemed happy to have them on board at GGP but I'm guessing that's changed recently after their stunt there?
Bozi,
Sounds a little bit like a threat.
Be very careful what you wish for folks,and think this through before you recommend Fort's posts. He's creative, eloquent and articulate but by golly he's also a little naive.
I for one would happily see more royalty deals if that's what we need to do.
It's totally in Bhp hands to do the right thing amd plenty left there for them if they want to settle this properly.
What they might not understand is someone else may have designs on Ecuador and giving Bhp another slap across the chops.
Not sure why you seem so against this being a solg holder?
Fortissimo - you are welcome to ignore me. Just know that when you make an argument that is open to scrutiny then I will do just that.
I'm well aware of the two royalty deals. Only a minority portion of these can be bought back and within a set timeframe. We must be half-way through the Franco buy-back period if it's similar to Osisko's.
You're right on one thing. It's time to move on. Just be realistic in your reasoning because you do make some compelling arguments. My snipey nature as you put it is simply giving you a bit of what you put on others back to you. Other posters will note I don't snipe at them
Colonel, I have it on very very good authority that the whole Aussie investment community dislike Newcrest.
The instos cos of the poor dividend and sp performance.
The research guys cos of the company’s arrogance.
The mining community because the BD team run the show and not the technical people.
No idea about Bhp, though Henry won’t endear himself to many, other than their own shareholders, cos they won’t pay up!
Going nicely Fort
https://www.google.com/finance/quote/SOLG:TSE?sa=X&ved=2ahUKEwiA65ba5Kb7AhUOYsAKHW9wA40Q3ecFegQIDxAc
Decent volume for the canucks.
CGP up too.
Not sure copyright rules allow it. But the Maxit involvement is an intriguing element as it was Maxit (I believe) that sold out their SOLG holding at 25p levels to BHP some 4 years or so ago. Now doing business like that doesn't mean you have to be best mates but I'm sure all can see the irony in Maxit's current views.
One thing is sure, it's blatantly clear that NCM and BHP have tried to undermine SOLG and dictate the companies direction in their own interests or favour. As Twigger flagged up... just pay a fair price and quit with the destabilising tactics.
Mining world is tough but I get a feeling there are a few Aussie ego's in the ring on this one and that's going to be fun watching that play out. Twiggy (Fortescue/Wyloo) has already landed punches on BHP (noront) and NCM (GGP deal). And for some reason, (I don't know why) but there seems to be a round of applause echoing about the Aussie mining community. Perhaps the under hand tactics and tough business approaches of NCM and BHP have made them very unpopular.
Be interesting to see how the Oz minerals situation unfolds as think the clock is ticking and BHP need to put up or shut up on that one too.
As for NCM... Biswas looks like he's going to get sacked pretty soon. Just a hunch! Don't rule out a BHP bid for NCM... it would bank them 20% (post merger) SOLG holding and really change the dynamics.
Bozi,
Read the royalty deal clauses. Understand the structure of them.
There's only one naive person around here and it's not me!
Any buyer of ENSA will have deep enough pockets to buy significant % of royalties back.
Anyway... I don't think there will be more royalty deals, I was just suggesting that if Maxit wanted to rub BHP's nose in it and force them into making an offer (one assumes they want this world class tier 1 project??) then Maxit just have to knock out another $50m royalty deal and watch BHP's thunder! Of course... they can buy it back... but at a fee.
The message is clear.... play silly games and it's going to cost you more.
That's my last post to Bozi. I wish you well but no longer see any point in engaging with you. I just can't be bothered any more with your snipe like posts. Time to move on.
Fort @13:50
55p would be the absolute maximum that I think Maxit would be able to extract and if I'm being honest I think their rather public riposte has made that job nigh on impossible from the big two shareholders. They will not appreciate being told where to go in the press.
55p is going to be in the region of £1.5bn based on post merger fully diluted share capital. The only companies that will spend that amount will be those who can finance the initial Capex from existing cash resources. Anyone else who needs to borrow simply won't pay 55p/share.
Your point about Norges/BlackRock et al rejecting an offer at that level is an interesting one. It's not inconceivable to assume that certain parties may reject offers at various levels given the return on their investment that represents.
That sounds like a diverse book in action to me.
The suggestion that SOLG can just carry on doing royalty deals is another Fortissimo brain fart I'm afraid. Each royalty deal is a drag on future profits as you know. Why would SOLG continue to keep shooting itself in the foot like that. It makes zero sense as what happens is a tier 1 asset ends up with a very marginal return on investment due to the cost of debt and the project then relies on very high metal prices.
Every royalty deal SOLG does now is SOLG ushering potential buyers towards Filo, Solaris etc etc. It's self sabotage on a ridiculous scale.
Be very careful what you wish for folks,and think this through before you recommend Fort's posts. He's creative, eloquent and articulate but by golly he's also a little naive.
Can anyone copy paste the MJ article here please?
Maxit is Solgold, Solgold is Maxit. I am not on the same thing you are on that is for sure. Have you checked who the interim CEO is?! Do you know who planted that guy at Solgold?
What are you on about J.Maria I am listening to Solgold not Maxit .
You are not listening even if it would be Bob himself telling it to you. Ah correct you are not. Because this article is so blatant so unpolished. It cannot get more obvious.
J.Maria nothing to do will being right, it's about listening to the company.
LunchMoney we don't have long to wait for Solgold to clarify their position.
We will all know soon.
Correct that means it gets sold. You can claim victory when let's say Rio Tinto buys Solgold and you own Rio shares that it was Solgold after all that developed Cascabel. Hahahaaha
Correct we are looking for someone to develop it.
The article says there is no more studies happening. It is very obvious. Bob says even the PFS was useless i.e. you can sell this business even without that.
Good afternoon addicknt this is going to production in stages.
Next stage is DFS we have sorted the funding for that.
I am unsure wherever we require the BFS before funding.
It must be clear now we can raise 3bn on offtake and loans and minimal dilution.
Many people said we would never get this far.
Once we get to DFS we have been told on two occasions I can remember that funding options open up to us.
As you know I have never said production was certain that it was the most likely outcome.
After the last couple of days, it looks more likely.