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Forget about the momentum. It's irrelevant. Forget about everything you think you know about stocks and shares. And instead focus on one thing... a takeover or sale. The latter comes with no regard for the former. When it happens it will surprise many. If it doesn't, then the market is not doing its job correctly.
BB's are great barometers too. We've had more poster over the last few months saying 'takeover' not going to happen... takeover not going to happen blah blah blah than ever before. They are at pains to repeat it.
It's coming alright. There's simply too much value here for the predators to ignore. But who's going to make the first move??
17.283/17.297...weird...close to a backwardation...
Need to close at 17.50 or above to keep the momentum going...
blackrock
flipping predictive text!
yep and I think it's blackjacks also trying its best to unwind that 25m short / hedged / loaned stock.
Becalmed by Autobots for a couple of hours, suddenly the market wants stock...
I'm bid for 380,000
Stackhigh,
Well in the fairness let's go with it's one of them instead then. If you are choosing NCM then good for you. If others choose BHP the good for them. Neither are wrong and neither are right but it's one of them and that's a fact!
It's also a FACT that there were further disagreement over the recent planned funding structure presented and discussed with 'large shareholders'. So again, one would assume that involved BHP and NCM or one or the other.
Twigger had to issue a public letter to tell them to back off and stop playing underhand tactics. Now why would NCM do that and BHP just sit and watch? Add to this there was a credible source in Oz press that said NCM and BHP got together early summer to discuss a possible transaction/offer on SOLG.
At end of the day, we all live in the dark here and are left to join dots. Some are better than others at it. Some can't see the dots for the Damien Hirst's.
Our own website only suggests we'll be top 20 in South America. Once it's built. And that's us trying to spin it for investors, because 'it should hopefully be top 100 in the world' doesn't have the same ring to it...
Listen, I'm done here for now. I'm invested, not overly leveraged. I think there's potential to make money here, but I'm not in desperate need of a BHP takeover, so I'm not going to switch to your view that it's just around the corner. It isn't. And if you want to admit I'm right before the 2023 AGM, that's big of you. If, as so many on here imply, there isn't even a 2022 AGM, I'll be back to issue my sincere apologies and eat humble pie.
Careful Fort. You've recalled how some of the other message board members on here have represented BHP's behaviour since they took a stake, rather than fact. You've then used this to evidence their level of engagement with solg. I don't think the big wigs at BHP have done half the stuff they are credited with by disgruntled investors here, so for me that doesn't prove they care.
We're one of their many investments. We represent a fraction of a percentage of their total investment in assets. They really don't care as much as people here would love to believe. I'm sorry. I know it hurts to hear it if your investment strategy is reliant on them being just about to pounce.
And as for the pocket change comment, a fair price for solg is still pocket change for BHP. It would barely lower their div.
the hill is going on...?
96 of the last 104 trades are Autotrades...
Is this being kept down...?
Decent volume appears to have returned with what looks likes another 5m day.
Wonder if we get a Blackrock TR1 rns in a few days now they know they are not getting a sniff at some cheap equity placings.
Keep on dreaming
I should have said top 10 (we are number 7) and the answer is one other.
Wouldn't you agree we're a little more important to them than you have suggested?
"If we were of significant interest, they could have taken us out for small change at any point in recent years."
Not true at all. They would have had to pay fair price as Mather simply would not sell out on the cheap.
As for the broader picture, agree that SOLG is a minor interest based on their broader business but in the context of mining discoveries and Tier1 projects, SOLG's Alpala is top level globally world class asset that is capable of delivering proper Super major like profits.
And then there is the Ecuador 60 concessions/licence blocks. These are not easy to lay your hands on in Ecuador and ones with permits even harder.
With copper shortages looming, it's clear why BHP got involved at 45p. Since then, it's been clear that they are unhappy that they are not growing their interest in SOLG. Unhappy that SOLG are not submitting to the cornering tactics being deployed. Not submitting to the underhand BoD/AGM games.
Is this really how you would expect a super major like BHP to act over such a minor asset in their folio???? And there lies your answer... they want it and like most good business folk, they thought they could get it on the cheap. Time will tell how that pans out but at some point (if not already through royalties) SOLG are going to hit a point whereby BHP have to make an offer or simply kiss SOLG goodbye. That moment is very close imho.
Just out of interest, how many of the other top 5 discoveries are BHP invested in? Genuine question.
We have an early stage (pre-DFS) concession that should be viable as tier one if it gets the go ahead etc. Spend some time counting how many other companies at similar/later stages BHP have a minority stake in. Then consider that, whilst they will have an eye on the future, they also run the world's biggest current mining operations. Again, we will be mentioned occasionally as a foot note, but my point remains unchanged: to read this board you would think BHP are really bothered about solg, and they are just not to that extent. I'm sorry. I know it doesn't fit the narrative.
If we were of significant interest, they could have taken us out for small change at any point in recent years.
RK, my comment was tongue-in-cheek.
BHP has publicly stated their focus is on Tier 1s
Noront was strategic...
Stackhigh, it's interesting you think a Tier 1 discovery is of so little significance to BHP. I suppose all of their recent statements about copper being their future mustn't refer to Tier 1s. Perhaps they prefer smaller deposits?
Having said that, I do agree with you that we are unlikely to be on Henry's mind each day. However, I'm pretty damn sure he takes note of corporate developments such as the two which have been announced recently...it would be utterly remiss of him to ignore them.
Stackhigh, its not the cufent MCap of SOLG that matters, its what BHP would have to pay...
Even at 80p that is north of $2 billion
They bid $250 million for Noront and then walked away when Wyloo bid $370m
And this is the argument they put to the shareholders:
"BHP recognizes that delivering Noront’s portfolio of projects in the Ring of Fire is expected to take many years, require significant capital investment, development of remote infrastructure, and management of numerous stakeholders. There is no certainty that shareholders remaining invested in Noront will ever realize the value for their shares offered by BHP in cash today."
https://stockhead.com.au/resources/ground-breakers-bhp-top-brass-wont-blow-up-the-bank-on-fair-oz-minerals-bid-as-copper-becomes-must-have/
"BHP is primed for M & A, with oodles of spare capacity to spend big even after announcing a US$8.9b final dividend, paying out 77% of profit after announcing a US$30.9b net profit and US$23.8b attributable underlying profit for FY22.
“We will absolutely remain disciplined, just because we know how important it is to ensure that we’re remaining disciplined from a capital allocation perspective,” he said.
“We spent a number of years now, building trust with shareholders. That’s a very precious thing and so as we did with the Noront process of last year, we have a very clear eye on value...."
Sound familiar...
Fort - it's the cost of the debt. Work out what 0.6% of metal sales from the project could amount to.
I suspect they'd much rather have been able to maintain their 13% stake of the post merger issued share capital via equity.
Something about having their cake and eating it.
Twigger never named BHP- that was guessed at (probably correct, but no certainty. Why not NMC?)
And BHP have set up an exploration company in Ecuador, which explains meetings: trying to get concessions cheap, no doubt. That's a much more likely cause of the meetings than to discuss their minor investment in solg.
If a company like BHP are to exercise their votes at AGMs, which they always do, then a junior member of the explorer monitoring team has to decide on a voting stance and action it, but my point remains: these aren't the actions of the senior management of the company. We just aren't that important to them!
Look in the mirror Z ! anyone who judges or comments about someone on the measure of recommends they receive is a fool of the highest order or at the least immature ;))
ONWARDS & UPWARDS guys,
Fortissimo, fantastic post and perfectly articulated
I don’t mind at all gives a truer picture of price … plus it’s a free board ….. mostly
RK - when will you learn that no-one, absolutely no-one cares one jot how many shares you buy sell or eat!
Look at the recommends - you're talking to yourself most of the time. Get a life or better still start your own forum: the Mr and Mrs Rednight shares appreciation club or similar..FFS.
Z