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sorry just seen lunchmoney has said the same doh !
sean .. to be fair Cornerstone did own 100% of Cascabel lol so at the time maybe we needed each other
Monte, Nick offered them 11 Solg shares for each of their shares. Now they're being offered 15 Solg shares per CGP share. They maintain their exposure to Cascabel and now increase their exposure to everything else in the Solg portfolio, they get two seats on the board and they get Bob Sangha advising Solg in their strategic review which is likely to result in selling off Cascabel or Solg itself to the highest bidder. That's always been their preferred outcome.
same here RK. exactly the same price 18.95, got 68K more
Autobots hard at work selling right now, which persuaded me to buy more...
170603 in three chunks at an average of 18.95 was hard work...
GLA...blue skies ahead and this has a long way to go IMHO...
Like I said Bubble. 22p would be fantastic, lets see what happens from 2pm onwards, that's when Solg normally makes its move...
Monte - they can't sell their company for that they want for it, to anyone else other than SOLG.
Autobots destroy every rise max until they go this will never move in the direction it should imho ,saying that a takeover will destroy them completely the institution using it will disappear imho so not long to wait ,one thing I can tell you is that they will try run it up this afternoon as they have been doing for last couple of years then close the books into sells ,the tax will probably help a rise a touch ,I said 25p close this morning but think unlikely now they got a stranglehold here atm
Hopefully this afternoon gets back upto this morning price. So we can start next week on a decent level.
Still looking a cheap share...
What's changed for cornerstone?
They treated Nicks first offer with distain, now they want to merge. What have I missed? From there point of view
Cornerstone have had a good deal ever since we got into bed with them. It was the biggest mistake we ever made and it has haunted and hindered us ever since, like a fat tick feeding off our blood. There was always going to be a price to pay. Let's hope the "merger" means we swallow them up and digest them, then forget they ever existed. And good riddance.
why BHP is ok with the deal?
this deal there is no mention of cornerstones funding obligation for cascabel. what is the situation there has solgold just written that off.... seems to be one hell of a deal for cornerstone.
Nothing ever going ( up or down....) in a straight line. ....it's up to any individual to make a call, sometimes you win and other times you don't.....
After today news our SP future level even in the near term looks a little bit (at least....) a wee bit rosier....IMHO.
Time to make your call.....:)
GLA SOLGers.
Cheers DBW
They hold nearly 9% of Solgold and a sale just became much more likely
Apart from Nick... not sure what the connection is SAT2? Explain?
Meanwhile the SP will likely now drift slowly back...usual story of sell on the news for now anyway..
This kind of deal will have been many months in the making. Follow up with MRE2 and addendum on schedule and the present board may well get much better support than previously expected at the next AGM … .. good job
Fort, wind your neck in, you don't know what you're talking about. The founder of Berry Street Capital was previously a partner at Paulson, Head of European Investments and PM of their European Opportunities Fund. This is not some tin pot boiler room outfit, it's the founders running their own (considerable I expect) money and some outside money and I expect they know full well what they are doing. Paulson specialises in events and merger arbitrage do they not? These guys are in it for exactly the same reason as you, they are expecting a takeover of Solg at a large premium to what they paid for their shares.
No wonder they were annoyed when the Board's attempt to fund raise whilst being overly cute in terms of managing the size of certain shareholdings resulted in no funds being raised, multiple execs leaving and the SP nosediving into the teens right as global markets were circling the drain.
And FYI the Fulham Road in Chelsea is not the leafy suburbs.
I thought it was you the other day who told someone to "play the post, not the man"... All I see from you this morning is attacks on Addicknt and Bozi and levelling your usual allegations about people having ulterior motives or not being invested if they dare to make valid points about the potential costs and downsides of this deal. Solg is going to have to issue hundreds of millions of shares to buy CGP, in return for no cash. More shares for the same total value than if they had done this deal when the SP was in the 20s. And the combined entity is still going to need to raise short term financing to get beyond year end.
So yes, this is likely a great long term outcome which permits the strategic review and opens up much better avenues to release shareholder value. But it isn't a free lunch. Just because people point that out doesn't mean they aren't invested.
If we get that far before Mitsui take us out
Now looking forward to the pfs2 and porvenir pea
Hopefully bring us back to the 40’s
shussssssshh!
You'll have a few on here squirming even more.
I'm off for a long brunch now..... lol!
SharketMare, sure agreed. But I prefer to listen to the likes of Norges, Blackrock, Franco, Mitsui and so on. Berry street capital? Who!!??