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Agree an offer will come we will not be taking it to production we are an explorer not a miner
Agree smickster does look good for both parties
Quady, cgp situation just needed time to resolve and like you say they were cornered too.
My only suprise was the great deal they got.
Anyhow we move on and it looks good for both parties.
Add, I get your point and understand the wishes of the cgp clan.
But it doesn't change the fact that no bid has surfaced.
So we continue to make solg attractive and corner our major shareholder to see what their interest is.
Pfs2
Porvenir pea
Short term funding
Dfs
Funding for mine build.
An offer could come at anytime in the process which imo is far easier now.
Exciting times gla
Good morning Bozi.
I don't think CGP had much choice, it was running out of time.
They could see that we were going to get the funds to take us to DFS.
They were getting close to handing us some serious money.
This way with Solgold owning 100% of ENSA it means that we can raise funds more easily.
Also it finally means that any party wanting to purchase Alpala also got easier as you only have one party to approach.
That's us.
Quady at this time of year shouldn't you be with Lucy in the old pumpkin patch waiting for the Great Pumpkin to arrive with his Diverse Book for all the good boys and girls?
Quady - why would we consolidate 100% ownership of Cascabel by bringing Cornerstone into the fold only to then JV it?
Makes zero sense. It's tantamount to giving CGP a nice payday at our expense and no other reason.
For me, a JV is less likely than it ever was, and it was never likely anyway!
Solgold doesn't need a partner to develop Cascabel. Solgold needs to monetise the company or monetise Cascabel and then pour its efforts into further proving up of current discoveries and other exploration efforts...this partner bollocccks means more dilution, more complications and an even longer pathway to shareholder returns
smick, how does your position square with the actions and observations of Irwin and Sangha? Or do you think they're not relevant?
Well said Quady, 100% agree with this post.
Our path just got a lot clearer with many more options.
Addicknt as I said yesterday.
A hostile takeover is now almost impossible, because the book became more diverse.
An agreed takeover is highly unlikely, as the major protagonists will not sell out cheap
However something happening with ENSA is more likely now we have 100% of it.
Add to that that streamers are looking around.
So either a JV or a packaging up of ENSA as a separate entity became more likely. But I don't see a sale of Solgold is on the cards.
I listened carefully to Darryl.
Lets see what the review throws up.
I think we get the funds to DFS. As you know I never doubted that.
But then we have funding options and that's when a bid may arrive for ENSA, Cascabel, Alpala.
In which ever way it's defined.
However we mustn't forget if the review puts all the money on the table, why on earth would we sell.
We would be mad.
Let's all relax wait for the updated PFS for Alpala, the PEA for Porvenir, the funding to get us to DFS and the strategic review.
Q, surely a sale has now moved from being a "possible" to being a "probable"?
I do however, agree that there are still many options, but it's the Irwin/Sangha thing which seals it for me.
Zoros we covered this. It was said by CGP not Solgold.
Sure I have said a sale of ENSA is possible now.
But its got to be a full value offer and that's the problem.
Otherwise we continue to production.
Zoros, not everyone ignored it, but you are right to re-emphasise it - it's of huge significance.
44% of the equity holders in CGP have entered into such an agreement, and bear in mind Irwin is not even a director, so was under no obligation to do so. We know all of these people have been agitating for a sale for a long time and for them to commit not to sell to anyone else clearly means they like what has been put on the table. You simply don't give away your freedom to sell in the open market unless what's being proposed meets your expectations.
When you combine this with DC's comments about other corporate events not being linked to the merger, or rather that something may be announced prior to the completion, you get a good understanding of what's going on.
As you say, Irwin wouldn't in a million years give away his rights if the story he was being told was "this is another step on the road to production". In fact, if that were the case, he's be all over Twitter arguing against the merger, and so would Sangha.
This has been the most interesting week we've had for years.
QUACK QUACK !!!
;))
Checked Solgold again, and The Australian, 16 hrs ago, 13.10.22 has a new preamble:
"Solgold's boss Darren Cuzzubbo told shareholders overnight on Wed, that MITSUI was ONE of a NUMBER of potential PARTNERS."
Now that’s news news lol
Atb
"Japan's Mitsui a possible rival for BHP & Newcrest in Solgold copper project."-The Australian, 13 Oct 2022.
"London-listed Solgold has confirmed the interest of some major players in the development of its Cascabel copper and gold project. Japan's commodities giant could emerge as a rival for BHP & Newcrest."
"Solgold is conducting a strategic review on Cascabel, regarded as one of the hottest emerging copper prospects around the world."
RCee att.
I noticed hardly anyone made a fuss over this when it was posted on Tuesday:
"....I signed a lock up. The merger moves us closer to a sale. Then we can all take our dough and reinvest in new opportunities of which there are many. ..." 11 Oct 2022, 23:24.
If a major insider can post like this, then all bets are off regarding production (thank God). It has renewed my hope that this 'fiasco' can be put out of its misery - hopefully sooner rather than later.
I'm assuming interested parties will want the PFS addendum these next few weeks to add to their dd and may possibly not bid until the DFS in 2023 even.
All - a lot better than waiting for the estimated production date of the Tandayama open pit feeder mine for Alpala in 2026!
The damp depressing fog over Solg is lifting - finally.
DC estimates current share value of Cascabel should be circa 80p+.
Add a premium and we're looking at: £1 approx.
Surely now Quades - you have to commit to a sale rather than any hope of production?
Z
A small change to them name would be fine.
SOLG
to
SOLD
I got 46 p on the way down
DC did talk about a name change to reflect our commodity
Maybe new name to reflect copper should be:
(Cu) All at the pub when we receive our spoils Ltd
Ok maybe too long
Sean, I will never forget that day mate.....SP jumped few baggers to circa 80p re speculation about the Solomon islands asset (where our name originated....) I even managed healthy trade that day which if memory serves me right ended at circa 50p.....:)
Bring that or even much less on.....
Fort - Can BHP and NCM jointly offer shares in their respective companies to acquire Solgold or Cascabel in full, and then create a joint venture between the two of the majors to share capex and risk and take it to production?