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Thanks NMM, I can’t find the details anywhere. Just a straight daily average or a volume weighted average?
Surely if a bid comes it’s in his interests to play it out and take an age to complete, unless as you say a bid means that becomes the three year average
Three year daily average from 17 March 2023. Prob averaging 10p currently.
BUT, on a change of control event, I (cynically) expect the 3yr average will fall away, and be awarded based on the agreed sale SP.
(30m options at exercise price of 17p. He'll profit £5.4m at a 35p sale price).
Next barrier to cross, imo, give it a day or two
He probably knows he's getting another 30m share options at 9p lol!
If they dare issue any more share options to directors then I think an EGM is required and we can vote it down.
How is the three year average calculated?
A reminder of Scott's options; he is looking for MINIMUM 35p:
0 if 3 year SP is less than 25p
50percent if 3 year SP is greater than 25p
100percent if 3 year SP is greater than 35p
Get some rumours and Ramps out on twatter anyway that’s what the bingo shares do
They have close to $5m cash balance left and $6m in licence commitments just for the regionals... so yes... a non dilutive cash raise is require imminently.
By non dilutive, they either mean proceeds from Porvenir sale or deal or proceeds from the 157m CGP shares.
The irony is... these shares are actually dilutive as they would be accretive if they were cancelled which is what should happen prior to a full sale. Would add 5% to shareholders.
It's a myth to suggest these shares are non dilutive just because they are already in existence.
The CGP shares are owned by all shareholders so if they get gifted to someone else... they really ought to be offered to all shareholders first. That's fair.
I’m reading the 23p mention is for pi’s confidence that you can buy all the way up to at least this price.
Someone bought 20k worth at 14:51 Ooooo yeh! Keep em coming
And another timely reminder by Solgold PR team.
"We are for sale"
https://x.com/SolGold_plc/status/1773003252637835679?s=20
Video recorded on 16th March.
Hannam's price target circulated on 20 March is double Scott's 23p.
So if this was recorded 10 days ago, does it mean 23p is inbound and or already received (why push it out today), and Hannam are expecting it to be countered by a competing bid. A bit smelly
He has also confirmed that "over the next few weeks or months we will have announced some non-dilutive proposals that will help us continue de-risking Cascabel and expand regional project exploration"
So, does that mean interested parties should bid for the co or project before more capital is raised?
If SC wants to take 23p for Solg then he won't have to worry about his wife wanting to kill him as I'll find him first. I've not put up as much capital as I have for 23 f'in p. Posturing I hope. Nice rise today :-)
Very good point BBG. ….. recorded almost two weeks ago … what were they waiting for?
And the last few comments....
"Stay tuned, there is going to be a lot happening at Solgold over the next few weeks and months"
My guess is that they are expecting a bid imminently as this was released two weeks.
This has all been designed by Citi and Bob. Consider this was recorded on the 16 March. Why push it out now?
Just listening to the interview now. Key items:
- Non dilutive financing
- Continue to de-risk.
- Strengthen balance sheet short term. Secure cash through non dilutive form.
- This non dilutive cash will also be used for regional exploration
- Obtain outstanding permits to build concentrator within two years. Low cost.
- No more drilling at cascabel. Our reserve is solid.
- We can get a strategic partner to help us get this into production.
- We're not trying to raise $1,5b right now.
- Todays spot price make us very attractive.
- Scott thinks 23p would be acceptable. This aligns both investors and interested parties expectations today. Sends a strong message to interested parties.
- Signing balance financial agreements with government in 'near term'.
It was planned.... the question would not have been raised in first place if it was not planned.
The game is underway and we are at last about to see a bit of a bun fight one hopes. If the first bid lands at 23p... then I think it's looking like 46p is the real target as a minimum.
That would be a steal... but if CGP and Mather agree to it along with a few others then it will be 60% owned assuming NMM/BHP are behind the bidding.
Barrick didn't signa deal with noboa in Dec to flip flap around... they want a slice too.
And why haven't we heard a been on Porvenir? Could it be that Valuestone are going snaffle that one on the cheap as part of the non dilutive cash raise plans and a bit of appeasing the chinese first before they provide the all awaited first bid for rest of SOLG??
Could of already been offered 16p and not recomended it so bid was not made
Bozi, a lowball doesn't/ shouldn't/wouldn't be accepted.
However I think it's widely accepted that the 1st offer would not be the final price.
You seem to imply that a lowball 1st bid is all we would get and this would be accepted?
But that's not our price it's his personal price and he's openly saying that he doesn't think others would accept.
I disagree and don't think this was a mistake and accidentally planned.
The controlling hand conspicuous by it's absence. Amazing timing with the video... anyone would think the two are connected lol!
Look...this is going to end up with the Chinese...its only a matter of time...
So maybe his 23.79p throwaway line was designed to get somebody like Gina jumping in with a bid...
Or "its make your mind up time, BHP and Newmont...or you'll have to deep six a big loss..."
I suspect he's been put up to say 23p too , you don't give that info away lightly imo.
Again, I agree with your last sentence.