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Q, I certainly agree that a part disposal is a real possibility, particularly as much of the rest of the portfolio is a mish-mash of unexplored concessions which, even to the largest of companies, looks like an unfocussed and undeliverable mess.
Copper, not sure I agree with that. In fact it could be said that under your scenario the CGP shareholders are simply jumping from the frying pan into the fire.
Agreed Copperpot that's a large part of it.
I don't think a sale is anywhere imminenent! All the happiness with CGP shareholders including Arren Wirwin is because a huge incoming expenditure billl has been averted....nothing more or nothing less! You can feel the relief from here. They can now dust themselves down and relax a bit more. I can hear the phew's from here.
GLA.
Morning addicknt.
The problem I see is anyone could have brought CGP beforehand, but didn't. Why was that ?
Could it have been because no one wants Solgold in it's entirety.
What they want is Cascabel/Alpala.
When Cascabel/Alpala is 100% owned by Solgold then this is easier.
However the price still has to be right.
So I believe we still continue to DFS and funding will be acquired to start construction.
arrangement with CGP is a very neat way of raising some working capital. Obviously, we don't know if there will be any further requirement for funds i.e the amount needed to get us to DFS, or whether this exercise is simply a precursor to a disposal.
Of course the really interesting bit will be to see the destination of the CGP shares. Who will buy them? They cannot be sold into the open market without completely tanking our sp, so I think it's fair to assume a placing with a single purchaser has been lined-up. But who and at what price? Let's hope it's not BHP/NCM.
I also wonder if we've halted our efforts to raise more funds. I would guess not, because even though the CGP deal looks pretty certain, there's many a slip between cup and lip and we can't run the risk of it not working.
Many of us have already said it, but it's worth repeating - Sangha et al would not have signed up to this unless it was aimed at delivering their ambitions...and we all know what those ambitions are.
Jeez let’s not worry too much about 2070 I’m more interested in 2023 !!!
Seems like the big boys better grab Cascabel while they can. Theres 50 years supply to be had. God knows what the copper price will be in 2070, every car electric.
Short supply copper going on a bull run imho ,bides well for solg
The sound of those ducks is deafening… looking forward to a very exciting few weeks coming up for sure ;))
HFM,
Exactly what you’re saying, BHP are hurting as they thought they had managed to conquer and divide, pleased to see what NM had wanted a long time ago has come to fruition.
Solgold are stronger with Cornerstone and they are with us, BHP shareholders will soon give their so called guru a few ultimatums, they need to see their invested future is secure with this outfit, you can’t keep losing out or walking away from projects because you think everyone needs you.
Solgold and the team have been quiet over the past few months but we all know why now, let’s hope they surprise us again soonish
Atb
@eaayp - MH is Hardy going to say the opposite is he really? ..... MH ..'Righto stakeholders! We've divested all our non strategic assets for a decent wedge, made a ton of cash from inflated commodity prices, made it clear to all that we would like to pivot to commodities that support decarbonisation - now, anyone know of a tier one asset for sale with a proven future value that we might already have an interest in?' ... this just doesn't happen. TBH, the fact he's saying this in mainstream media indicates to me the opposite, so when they do make a bid, there is some sort of narrative out there to shareholders that they are taking a responsible approach to M&A. Anyway, who cares about BHP as there are plenty of other suitors out there. If BHP don't want Cascabel, they can just sit this out and watch someone take down this tier one which just so happens to fulfill their future mining strategy. BHP after being the bully boys are going to have their right to influence taken right out of their hands IMHO, and soon.
The CGP merger and subsequent lock up signed by all their major players was a game changer and the tables have now turned.
My holding here is large, and I'm currently under water to the tune of over 60k, but I couldn't be more content in my knowledge this will come good - and soon.
ATB all. C
I'm pleased to see we just got past that with a war starting, ironically the diverse book thing didn't bug me apart from it's frequency, I can see what he means althought it could be interpreted boths ways.
Surely the book is less diverse now SOLG and Cornerstone are one ? I'm still not sure if this marriage is to make it easier or harder for a take over but I'm going for take over.
I have also filtered him again
What I most took issue with was the bizarre view that he has been completely right so far.
If this is taken to production by Solg he is right no question.
If it is sold he is wrong
Until either of these things happen no one can possibly be right or wrong and as far as I’m aware neither event has taken place …. Unless I missed something?
Here’s to a really interesting few weeks !!
You're right Bozi and I need to start practicing what I preach now that I've got him filtered. I believe events are going to prove him totally wrong soon anyway. But you're right I need to stop biting too.
I've never been this bullish before, even at this low SP. I genuinely believe the next few weeks are going to prove transformational and a special time for us long term holders after all these years. Let's hope tge board gets back to some semblance of normality, because there should be plenty of big serious developments for us all to chat about - civilly.
Jezzoo - it's easy to say "don't bite" but if there was no bait then there would be nothing to bite on.
People get wound up for example by Quady's continued belief in the diverse book theory. Maybe we all shouldn't bite on that carrot either.
Sean - there's probably element of truth in what you are saying but again, Slug is responsible for his own reputation and that simply doesn't start afresh whenever he opens a new LSE account. His early work did him no favours with those who found his views deeply offensive. His card was marked. However, even in recent incarnations he sought to argue with anyone who would retaliate... Shipright, Copperpot, etc. He had a few dance partners.
"The Chief Exec of BHP has signalled that the world's biggest mining company will resist the temptation to go on an acquisition spree despite a growing war chest."
It takes two to tango Bozi, they are a double act.
Despite his occasional insights into Solg, Slug completely disgraced himself last week with his spamming attack on this board 2 nights in a row. Should be banned for life no question.
However, his insights were often immediately derailed by Quady arguing with him from the get go, knowing Slug would immediately bite.
Now the only spamming of the board are all these useless "diverse book" posts by Quady over and over again,coupled with his deeply patronising passive aggressive mansplaining.
They are as bad as each other. One os hopefully gone for good, and I've filtered the other.
You aren't wrong Bozi, but Slug and his reincarnations shouldn't be Quady's problem to take on, it should be the people who own the website and banned him in the first place.
If Quady didn't bite or wasn't so rude sometimes it would die a natural death.
But he does and the disruption continues.
And Quady, he wasn't comparing you to Slug, he was just saying he thinks you are part of the problem.
Don't bite, it's hard not to when someone is on your case believe me, but it's the best way forward.
Take no notice Quady. There's been a continual campaign from Slug's desciples to gaslight everyone into believing you're the problem.
You're not, but sometimes you do make yourself an easy target.
What a nasty piece of work you are seanhunter comparing me with Slug, when you are one of his biggest fans.
No Slug or Quady - a glimpse of how civilised and peaceful this board would be without them.
Clearly not...yippee!
Has the Slug or moderator shut this down...?
The good news is, big miners have to think strategically, they have to think in terms of decades, so an oversupply today means nothing in the context of the next 60 years. Copper may not be as finite as gold but in the face of long term growing demand there may come a day when it feels like it. Who wouldn't want Cascabel on their asset sheet come the copper hungry future?
Henry said the market will be in “a little bit oversupply” in the next few years, before tightening up toward the end of the decade as more easily accessible, richer seams of the metal become difficult to find and mining becomes more complicated.
“There are more issues that need to be addressed in terms of water management, community engagement, broader environmental permitting,” he said. “These things are taking longer. They are more complex