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FTJ
Agree re the sentiment towards BHP 100%
Bn.c
Oops sent twice apols everyone
DBW always said £1:32 not sure we get there now but certainly recent activities have cause for the share to be top end of a pound pending any news imho this asset (cascabel)solgold have will not go to the Chinese imho or bhp they too late it's going to another Asian company and Franco the smelting contract with lundin in a j/v on other assets that's my opinion though let's see ,I think we are in for a good few weeks here
DBW always said £1:32 not sure we get there now but certainly recent activities have cause for the share to be top end of a pound pending any news imho this asset (cascabel)solgold have will not go to the Chinese imho or bhp they too late it's going to another Asian company and Franco the smelting contract with lundin in a j/v on other assets that's my opinion though let's see ,I think we are in for a good few weeks here
I shall be getting back in tomorrow morning for a good trade in the coming days..
CD , create where it's due , well thought out strategies.
Does this merger now mean we have a majority to vote through any resolution without BHP /newcrest blocking it if so that would be the piece that another buyer would need to move forwards diluting them out the way or is it still in the balance ?
FTJNY….. yep
Dust hasn’t settled here …. It’s only just begun
Just wait till the 6.7% of Solg held in Treasury after the Cornerstone deal concludes is sold to another Major ( or the Japanese / Chinese) then you’ll really see some smoke coming out of BHP’s ears! Karma springs to mind and it can’t come soon enough! The time has come to push back against these bullies and remind them they aren’t running the show!
Tesla … Do you believe BHP would like to see all shareholders get full value for their shares? I doubt it and it’s clear CGP don’t …. Having sangha on board will be a big step towards achieving some kind of a result. I’m not ( and never have) claimed this is worth £’s however I feel it’s worth a lot more than 17p
As for the management of the company, I can’t argue, and I doubt Nick has been too impressed recently, have a nice Sunday
Tesla1,
You obviously don't understand how the CGP changes everything. But not a surprise. Try and understand the handcuffs on share issuance. understand the benefits of extra friendly BoD's. Understand the weight of an extra 20% shareholding (friendly) Understand the importance of seeing BHP's and NCM's holdings reduce by 3% or so each.
You really are a bit thick.
Big move up for Mather's DGR.
https://www2.asx.com.au/markets/company/dgr
Last time DGR were near the 0.7 cent level was mid to end of June 2022. Which aligns with SOLG's sp move to test 35p. Aligns with Blackrock buying and Norges. So something was lined up around 3rd week of June as DGR and SOLG were both looking strong.
Fast forward a few months and DGR / CGP looking lively yet SOLG dragging its heels. Might be due to ARB trading but get the idea SOLG should be mid 20's in no time especially as initial market reaction on Friday was to nudge it toward 22p. After sellers of the cheaper stock (acquired at 13p/14p levels) exit, then it should get a motor on.
The CGP deal effectively stitches up BHP and NCM (although I think the latter are ready to exit at right price). So in theory, the best BHP can do is offer CGP an alternative. That in turn then triggers the likelihood of a bid for SOLG as a whole as 15% ENSA is not worth much to BHP without the other 85%.
Far safer for BHP just to wait it out and once SOLG have 100% ENSA (about 3 weeks time post CGP meeting) then make a dart for the business.
At the moment, BHP and NCM are on track to see their SOLG control and ownership drop to just above 10% and even further if SOLG issue the 6.7% CGP shares to Mitsui or another.
IMHO BHP might well offer SOLG shareholders a 'better deal' and throw that out there to scupper the CGP deal.
Exciting times ahead and SOLG firmly in driving seat. IN Mather we trust. I said he had a plan and he's not going to let his baby go on the cheap. Not going happen.
I doubt you were complaining when the price was inflated when BHP and NCM bought majority shareholdings/
The fact is the management have been grossly incompetent over the past 12 months, nothing to do with greedy majors.
They thought they had outsmarted 2 of their major shareholders but in the process have left the company extremely vulnerable due to lack of funding.
As for for BHP seething……..that’s hilarious….
All that’s happened is 2 cash strapped companies have formed a partnership to try and get a better deal in the future potentially , hardly seeething inspiring news.
rcgl, yes, that was it. Thanks for reminding me.
Exactly
They have a common cause. To maximise the value of their shareholdings ( and ours by default) and not have it destroyed by self serving, greedy majors
Irwin made some interesting comments on Twitter over the last 48hrs.... looks like Cornerstone, Nick and SOLG are all aligned to block any destabilising tactics this year with realising value a common principle. We could do with a RNS for the DFS like we had for the PFS, that states when it will be delivered to the markets as that will be the start of a strong run for the SP. Not long now, the foundations are laid. C
https://twitter.com/bigdude6669/status/1578261273367961601?t=b_eCceBU7MC2WP0rNJsKBw&s=19
https://twitter.com/bigdude6669/status/1578505269088509952?t=TnF5ulUxNDR4LapcPR9D-A&s=19
Morning RC
I’m fully expecting the same sort of thing again this time round. After the last few days I imagine BHP may well be seething.
Probably targeting our few remaining Solgold stalwarts . Each year there are fewer aligned with pi’s. It’s vital ( as far as I’m concerned) that Nick Mather retains his place on the board, along with the lines of James Clare, he will make sure we don’t bow to bullying.
Add are you thinking of Twigger's letter to shareholders where he explained why they wouldn't be putting the whole board up for re-election?
What's interesting looking back is not only that only a majority of directors had that view about directors elections, but also it seems to say only a majority of directors thought the company was undervalued. Wonder if that was deliberate?
"Factoring in the significant positive changes over the past year, I am pleased to confirm that the majority of my fellow Directors believe it is not in the interests of Shareholders for the entire Board to be put forward for re-election next month. Among the concerns expressed by my fellow Directors is that a further destabilisation of the Board will have an adverse impact on the CEO search process and also further undermine the significant value generated by the Company across SolGold's licence areas throughout the Ecuadorian sector of the Andean copper belt.
As your Chairman, I acknowledge the great support your Board has received from Shareholders both large and small over the last 12 months.
However, it has come to my attention in recent weeks that one of SolGold's significant shareholders, BHP Group Ltd., has been actively canvassing certain shareholders and members of the Board seeking to persuade the Board that each Director should stand for re-election at the upcoming AGM. For the reasons set out above, the majority of my fellow Directors believe that putting the entire Board up for re-election next month would further destabilise your Company, undermine the advanced process to secure a new CEO and otherwise is not in the interests of all Shareholders.
I strongly believe that it is in interests of all Shareholders for the Board to be comprised of directors with a cross-section of views and skills who can collaborate to ensure that the interests of all Shareholders, large and small, are represented and looked after at the Board level and not just the interests of certain large and vocal shareholders seeking undue influence at the expense of a control premium you should enjoy.
The intention of your Board is not to maintain its incumbency, but rather to ensure a re-rating of your Company is achieved without compromising corporate governance best practice. The majority of your Directors consider that the Company is undervalued and therefore vulnerable to opportunistic corporate activity, which is why stability in the Boardroom - given the significant amount of positive change over the past 12 months - is highly important and in the best interests of all Shareholders."
anyone recall which corporate event only received a majority of board votes in favour I.e it wasn't unanimous.
I remember being surprised at the time, but have forgotten what it was about.
*sides.
Anyway, let's see what next week brings. We've had an interesting few days. Hopefully we get some better behaviour from the wider market as BPhil indicates.
There's undoubtedly more to come.
Smickster - at no stage have I said SOLG has no legs. If I thought that I wouldn't be here myself.
I think it's important that everyone knows both signs off the coin. The good and the bad. Would you not agree?
Nobody should be buying shares on false pretences, and if we disregard the challenges and headwinds, then we're not investing effectively.
medar"If only cascabel is sold, and Solgold continues exploration, what will happen to the 600+ workforce? will they go all with the new company?the remaining firm cant justify 600+ persons?"
It's a pretty big community , I think it's near 900 now so it's an infrastructure that would benefit not only the potential buyers of Cascabel but the only requirements of the other interests in the area.
This is now a viable town with potentially a long future ahead, certainly not a shanty town scenario.
What's better for group of companies who need to facilitate their ongoing concerns than to have a functioning society for their workforce as well as enterprising folk who will stock and supply them without the need for their investment.
With hindsight, whether by luck or design, it's turning into an asset not a burden.
Can't be many board meetings between now and the end of the year Add?
Unless there's been a pact formed that is...
I think this bb is a small representation of the private investors.
Most people who frequest here are traders....that's my reading of the board.
Yes I can take it or leave it but I wouldn't want someone looking in thinking this share/company has no legs so I choose to challenge certain views when I can.
Ithere is risk here of course but one that could pay handsomely for us all if things align in our favour.
Haven't appointed myself to represent anyone Smickster.
Just have a read around you. Gauge the sentiment. The views similar to ours are the minority and there's a few reasons for that.
My opinions can be taken or left. Just know that's all it is. Nothing more.