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Behind a paywall, but wholly predictable
https://www.theaustralian.com.au/business/mining-energy/newcrest-mining-slams-solgold-financing-deal/news-story/10efb3585fab757ff9591cb1b8991b64
You make good points Colonel said but theres no need to insult addickt...it detracts from your own common sense...
Two years ago when the SP was struggling I wrote to Ingo and said "why not announce a strategic review...? That will ignite the share price."
Seems I was wrong, but maybe because they buried it in the merger note rather than announcing it subsequently.
The market usually take a strategic review to mean looking for a buyer...market number by 18 months of speculation... But theres a takeover battle coming, mark my words...
Fort, it pays to read people's posts carefully.
Sorry addicknt, I think out posts have crossed.
Agree.
addicknt
Just read your post again and can see it's kind of rhetorical posit. We are clearly on the same page here. There's no way CGP would be moving over from TSX to LSE without knowing the end game and having some guarantees.
The only thing we don't know is how the strategic review might look. Will it involve an IPO of ENSA (like turquoise hill). Will it involve a full sale? If CGP are to get their pay day, then it has to come from SOLG shares or a divi or some form via SOLG holdings.
Fort, what a charming and wholly unnecessary comment. I think I have expressed my opinion clearly enough since the day the merger was announced and it's not too far from yours.
Sometimes you really can be an utter tool.
addicknt
I was the one that raised the point about timelines on the Strategic Review. I was merely suggesting that it might help if we all knew how long this process might take or if SOLG put a self-imposed target date on it.
FWIIW, I don't expect the process to take very long at all. I think the 'direction' of the company was decided months ago and was required prior to any CGP deal. Look at it this way... if you were Irwin or CGP would you go blind into a merger or would you only enter into the merger if you knew the desired direction of the business was in your interests??
Sometimes I do wonder about you addicknt, you seem to lack common sense. Surely you can understand what the pre merger deal discussions would have looked like??
I also mentioned on the last RNS the fact that Twigger was putting his name to it when I expected Darryl to be on it. Yet again, we have a big RNS on funding and you'd think the CEO's name would have been all over it. Nope! Twigger seems more active these days doesn't he?? Have you worked that one out yet??
Also, did you note that the Osisko finance deal did not have the same handcuffs as the Franco deal?? Might explain why SOLG went with Osisko rather than Mitsui or Boliden etc. The $50m appears to be available for ENSA and non ENSA (porvenir) as far as I can see.
Bozi, an interesting point, but I think Irwin, Sangha and NM would have already known if that was the case and wouldn't have greeted the merger with such enthusiasm.
It's clear to me they got what they want and perhaps we really are further down the path. Mind you, this is Solg we're talking about, a company that is quite happy to progress in terms of geological ages.
PUSB ;)
Addicknt -what about if the company knows which path it wants to head down but none of the proposals from interested parties meet with the satisfaction of enough of our major shareholders?
This isn't out of the question in my view amd the ramifications for the share price in such an event could be pretty unsavoury to witness.
someone asked about the timing for the Review and I'm not sure I saw any suggestions.
The obvious answer is; what is the start point?
If the company already has a clear idea of which route it wants to go down and is already sitting around the table with an interested party, then it shouldn't take too long for there to be an announcement of an in-principle deal.
If however, if the process is starting from scratch, is not merely a lip-service exercise, and all possible outcomes really are being examined in depth, it could take 3/4 months, or possibly longer given that Christmas is fast approaching.
In the past Ive been involved in quite a few of these and the longest took six months - mind you, there was no pressure from the client on that one and they were perfectly happy with the timetable.
None of us has any idea of how far progressed matters are, although Twigger's comment the other day was encouraging. I'm also fairly convinced that Irwin and co either believe or know where this going and have only signed up because they've been told.
So what do you lot think? Is this a genuine full review, or is it the exercise merely a euphemism for an already known and clear path?
And Cov won yet again , fk the Stockmarket
It’s not a 33% price hike, it’s a 33% premium hike. Which is less than 0.50% price hike……
RK you are a total bore.
Seav,no wonder chinese/Japanese looking at buying solgold ,we may get an auction here soon even after funding raise which is peanuts in comparison to assets imho
In April Ingo joined First Tin as a NED...
And guess who joined him on 3 October..?
"We are delighted to welcome Nick Mather to the Board of First Tin and look forward to working with him. Nick brings extensive technical expertise and a track record of successful business development which will be valuable as we focus on achieving the Company's objective of becoming a low-cost tin producer, through exploration and development of our two flagship assets in Germany and Australia."
Codelco proposes 33% price hike for Chinese copper buyers for 2023
"Chile’s Codelco, the world’s biggest copper miner, has proposed a premium of $140 a tonne for 2023 supplies to at least two Chinese customers, a 33.3% increase from this year, two sources with knowledge of the matter told Reuters.
The proposed premium, up from $105 a tonne this year, is paid on top of London Metal Exchange (LME) copper prices for physical delivery of copper cathodes into China, the world’s top copper consumer, and is a widely watched industry benchmark."
https://www.mining.com/web/codelco-proposes-33-price-hike-for-chinese-copper-buyers-for-2023-sources/
Fortissimo great summary there no brainer this is a multibagger from here
SharketMare,
Alpala is a tier 1 project. It's going to be producing for 20 to 30 years+. It's going to take roughly 5 years to build. Inching toward Ecuador election?? Lasso was elected in spring 2021. Next elections are not till Feb 2025!!! Inching closer?? Have you lost the plot or something or desperate to find something to worry about... 3 years+ away! Of course politics has a factor in all countries and mining. But Alpala/cascabel will probably see around 6 election terms with different leaders on many occasions. Get used to the idea. Super majors are well adversed in dealing with governments.
You were wrong about the fund raise, wrong about the royalty and now you seem to be suggesting that there might not be a buyer interested in SOLG or Alpala? I think you need to take a look at yourself and start questioning your own analysis.
You have absolutely no idea of whether SOLg have zero buyers lined up or 10.
Forget DFS for goodness sake. Do you really think a buyer is going to be following SOLG's PFS and DFS blueprint?? They'll rip the lot up, size the mine twice over and make 3 x the profits albeit with double the Capex. That's how super majors work.
Take a look at Noront. See if you can spot any interested buyers in the stock before first bid landed. Any trading waves? Any noticeable action?? I'll save you the time. Zero. All was flat as a pancake until someone made the first move.
Noront 23cents one day became 55 cents another, then 75+ and then sold for 110cents. A 5 bagger.
A 5 bagger from 18p would see 90p for SOLG. Just imagine that.... or in your case.... perhaps not.
Out playing golf?
Boring old codger.
Quady you really are transparent with your divide and conquer techniques, why would I get seanhunters post deleted when I agree with him about you.
Q for dunce, must try harder
I'm glad I was out playing golf...what a load of juveniles...
Sorry I meant DFS (not pfs2)
You make a good point Sean, about those 3 words.
I wonder how the SP would have panned out over the last few years if we had simply stayed as an exploration company and never mentioned those intentions, whether serious or bluff.