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Newcrest will be selling as evidenced by their removal of the MCM Director on SOLGs board recently. Means they can focus on GGP. This is not a deramp, as I intend to buy back in but it will supress the share price short term
Australia’s Newcrest Mining Ltd (NCM.AX) has hired investment bank RBC Capital Markets to explore options for its 15% stake in gold and copper producer SolGold (SOLG.L), two sources said, after it contested SolGold’s latest fundraising initiative.
The Ecuador-focused company agreed in May a financing package of up to $150 million and a $15 million bridge loan for its Alpala project with streaming company Franco-Nevada (FNV.TO) defying Newcrest, which had urged it to raise funds via equity.
May help explain Gettingpoorer’s moniker as with someone like him on the share register any old low ball offer will suffice! No ambition or balls just about sums up his posts and hence he will always be getting poorer lol :)
Can we not lump our shares as PI's into a Solgold Friendly Society / Limited CO./OIEC type arrangement to create a collective geering voice/control to counter low ball offers and go to the end, Cat amongst the pigeon stategy?
are a complete waste of time! AMER's resources were not world class. There was a whole lot of excitement about one field (I forget the name) in early 2019 based on one drill result - the next step out drill turned out to be a duster and sent the share price into a tail spin.
SOLG has a genuine, proven TIER 1 Cu-Au asset. And then it has the potential for several more. AMER was in the 2nd division if you will and SOLG is in the Premiership.
Gettingpoorer, BHP don't need to make any noise - they are the rich, successful older brother. If anyone else makes a bid for SOLG, e.g. Newcrest, as per the Ts and Cs of the agreement, BHP will immediately be freed up to make a counter offer.
Good evening gettingpoorer, nothing you said was disrespectful or insulting, it's your point of view. I do have a further point to make. What do Franco Nevada think. If this moves quickly, it puts the Franco Nevada deal at risk, as not signed yet. So maybe NM and Franco Nevada can speed up the deal, and who knows, sort out the 2.7 billion and get it signed. All the best.
Evening Quady , no disrespect meant to anybody in my post , I know your views , respect them but I don't think you are correct in your assumptions.I just think from past experience this will be a low ball takeover. The price is low for a reason , just like Amerisur. Nobody could understand how the good news flow sent the sp down every time , ever director buys sent the sp down , just like here , it's happening the same. To put a real dampener on it , we had an offer when the sp was 14 for 17.2p. The BBOD's were shouting no no no , it went for 19.2p. With 40m cash in the bank raised at 25p. Sorry but I can see similar here.
Many of these reporting sites are sloppy with the numbers. Some of the lead headlines have NCM looking at options on their 15% stake in SOLG.
Well... they only own 13.72%! But if they snaffle up CGP then they will own 21.5% approx plus 15% of ENSA. Without doub CGP are the major piece in this puzzle that all want to get under their wing before October 15th arrives SOLG included.
Which might explain why CGP's share price is doing well tonight. Was $3 a week ago and then NM offers them $3.9 and does them all a nice favour.
Things hotting up now and RBC are no slouches. They will either get NCM's SOLG stake sold at a premium or they will find some SOLG investors willing to take a premium and that might include CGP.
As I said... there was a 'reason' why NCM elected to remove their director. Lets face it, they couldn't have him there and make an offer nor could they have him there and seek a sale of their stake. He had to go so it freed up their options.
And that's what this is all about... NCM are ruffled. They are being forced by NM to think strategically about their next steps. SOLG are not rolling over and NCM are either going to be buyers or sellers but eitherway, that's going to be a good valuation indicator for SOLG and one investors need the market to take note of when it materialises as NCM will not be accepting offers for their 15% stake that is less then 45p imho.
Good evening gettingpoorer, in that case, I need my head examined. This is the type of tree shake, that happens every now and again. Nothing yet has happened, I do think, that we have lots of possible outcomes, some which none of us have thought about. Interesting times to come. All the best everyone.
Anything over 55pis dreamworld imho. This is now being played just like Amerisur resources was , the asset was supposedly world class there too. They sold monies raised at 25p for 19.2 at takeover , 40m£ cash , raised at 25p sold at19.2. ColnelDrake knows , he was in the share at the time. I thought this had 55p written on tit but i can now see 38p on past experience. £1 is ridiculous , whoever thinks this will go for more than ten bob needs the head examined. Not looking as hot is was , I will still be happy at 38 though , would double my stake. Just for the record. I have been correct so many times without any credit.
I think this is worth repeating, it doesn't matter who owns what, we all know what Solgold is worth, It doesn't matter if it's NCM, CGP or BHP. None of them are going to part with Solgold for 50 pence a share, I still think, depending what occurs over the next 3 months, that this could complicate a complex situation even further. So no bid will be put forward. At the moment we are still heading towards production. Agreed we need time to prove up the other sites, but also to confirm the funding for Alpala. I don't think NM will get sleepless nights, I think the appointment of Citi was to defend this type of scenario.
Today, AFR is saying it will cost $3.5bn to take Alpala to production and with the usual delays you can take that up to $4bn. A major or majors will buy SOLG in its entirety as there is no way, no way in the world SOLG will be able to access that level of capital funding without destructive dilution.
I don't hold here any more but I have an interest with the Newcrest-GGP angle
40p is laughable, yes, but only to LTH and people with lots of skin in the game. To anyone who bought in the last 12 months, including everyone who purchased in the recent placing, the ROI is between 33% and 250%. Within a year. This is exactly what will make the defence tricky at best, so yes, unless we are ok with a 40p outcome, we need one of two things to happen.... the SP gets a significant boost on drilling results, or more than one major start bidding against each other. Best case scenario is both happen. I recently purchased more to avoid disappointment at the measly return given how long I’ve held if we end up going for 40-50p. I could now live with it.