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Quady, you can't be sure that NM, DGR, NCM and lots of PIs would say no.
You would hope they would say no but it's no sure thing.
Clearly there's going to be a correlation with price and acceptance but we have no idea where that will lie.
The proof will be in the pudding in the coming weeks and months I suppose.
Bozi,
BHP lost a case in the other week regarding 5 billion pounds for the carnage they caused when the damn burst, they have also lost many billions in the last few years through p*ss poor management decisions
You think Nick with his holdings including DGR, NCM and all the others will sway to BHP who do not have as much clout as they use to have, they are known for dirty games, but the others are not fools.
You say your reacting to what is or is not happening, we don’t know as we are not privy to their discussions, but I can guarantee they ain’t doing nothing.
This mine is a big animal, it has a life of 50+ years, who wants to lose a share of that for peanuts?
I trust Solgold to pull something great out of the hat with an experienced team at the helm, these are not fools and all have a lot riding on the outcome.
So you have your take on things and I have mine, so we disagree, time will tell and let’s hope it’s good news for all
Atb
Quady - what have Citi done for their (not insignificant) advisory fees?
Whatever it is, I'm not sure it includes our directors and significant shareholders referencing corporate activity to the rest of the market...
Franco Nevada are a non-entity until the mine is built and resources are being lifted and sold.
Lets see what happens.
I expect BHP to take out Newcrest in one of their much talked about large acquisitions…. We would not be a large acquisition, we are just a tadpole floating aimlessly in the ocean..
BHP would then probably have an unassailable control, and ensure we become Their Ecuador subsidiary… on the cheap.
Good morning Bozi, that's the beauty of the diverse book.
No one owns enough shares to put in a low bid.
So if BHP put in a bid for say 60p.
Then NCM, NM, DGR and lots of Pi's would say no.
Also I would say no, so they have no chance.
That last line was a joke, but the sentiment is sound.
Mathersfinger
BHP appear to be the frontrunners at this moment in time. They're much stronger financially than NCM who frankly, I have never regarded as a serious suitor but rather a strategic investor.
I'm not dropping my hat on 40p - just flagging that it's a 50% premium from here and therefore probably ballpark should anything materialise at a corporate level.
I don't think NCM would be particularly enamoured with a 40-50p offer but they don't hold enough stock to block it on their own. It will depend to an extent on whether they can garner support from other significant shareholders.
It's all well and good saying "this won't go for peanuts". In the days where the company was keen to fight off any advances and force any suitors to go hostile you may have been right. However, the tone and messaging is changing and with that comes the prospect that hostile suitors can become friendly, particularly when you take our dwindling treasury into account.
I'm not worn down at all. I'm reacting to what I'm seeing.
I agree Mathersfinger, the whole point of the diverse book, Citi's defense, Franco Nevada offtake and the regionals starting to look good.
The whole point since 2015 is we can go this alone, so if someone wants it, then a lot higher than 40p.
That however is the dilemma, so we proceed to production.
Bozi,
I disagree with your theory, who is in the lead to take it for 40p?
Should you mean BHP then what about NCM and others, you think they will accept 40p
A tier one mine and a solid much respected Solgold in Ecuador, DC now in a nice position with the mining in Ecuador, you sound more worn down to me than Solgold
Anyway it ain’t going for peanuts imo
Atb
I'm concerned at the way the seas have calmed I must admit. I am sensing a change from within the company (away from the comings and goings) and suspect we're going to see more on this 'evolving strategy' soon.
To all intents and purposes it appears to me that SOLG are building an Ecudorean entity that can now be bolted on to a more capitalised firm. This is the only reasoning I have for the ins and outs in recent weeks. Finance and technical are being rationalised somewhat.
The question for us is what assets will be packaged up into this entity. Will it just be Cascabel or will it be more?
With Nick's comments, Darryl's connections, etc I'm leaning towards the latter.
As we know, certain shareholders have strategically ensured that Nick Mather's control and influence has slowly been eroded. From CEO to NED and soon likely to be removed from the board of directors all together. His direct and indirect interest meanwhile has been gradually reducing with each capital raise.
I know some have taken his recent comments at Noosa to be bullish. I think there's a defeatist slant on them unfortunately. He has fought and strained with every sinue but the sharks are circling.
I suspect what remains to be decided are the terms. The market is trying to tell us something here I feel. A 50% premium puts us at 40p and the favourite in the race knows that a clear run means they won't have to pay any more. SolGold isn't a Noront unfortunately and there's a significant risk with bidding up a rival for something the size of SolGold.
We're soon to be in white knight territory I reckon. Will one turn up to give us the return us long term holders deserve? I sincerely hope so.
Woody, good email. It will be interesting to see if he replies.
I've messaged both FH and AS about the dearth of and leaky communication. Lets see...
Meanwhile the SP is edging up...is this the start? Are they all locked into radio silence...?
"Well let's see a sensible bid come in.
We won't, so we continue to production"
In those two sentences your entire argument collapses. You have no idea what represents a "sensible bid" in the eyes of shareholders and similarly, you have no idea if someone will bid. In fact, given the importance of Cascabel, it's inconceivable someone won't want it.
I think your question is well worded Woody.
The answer will probably be an update is imminent.
And we all know what imminent means.
Good man!
Thank you Mog I hadn't forgotten, I am guessing that is what DBW was referring too.
The actual quote was the plan for Solgold was to prove it up and sell to a major.
That has always been the case.
It has also been the case that we are not going to sell cheaply.
So how do we prove this up and sell.
Well that question has been answered so many times by Solgold.
We head to production. This has always been plan A.
Remember plan A begets plan B.
Well let's see a sensible bid come in.
We won't, so we continue to production.
NM has said nothing different.
Just look at the share price. If a bid was in the offing then we would be a lot higher.
I emailed this to Fawzi yesterday, no reply yet, not expecting to hear anything back, just want to make the point: 'After years been told the company is working towards production (a change of strategy headed by Nick Mather) he recently indicated this is no longer the case.
We now learn via his personal LinkedIn account that Ingo Hoffmaier’s position has terminated along with Lisa Parks. So it seems the person leading fundraising for Alpala’s has gone because he says the strategy has ‘evolved’.
It seems there are regular drips of highly sensitive statements appearing online from key players within Solgold, but no statement from the company itself to explain what is happening.
Can you please explain?'
The video says Solgold, 2:40 in...
https://www.youtube.com/watch?v=FUT8pmDtZNI
Maybe Quady has forgotten and needs to see it again :)
Sell what?
Cascabel or SOLG...?
Meanwhile just a reminder that Lisa Park was asked on LinkedIn "is anyone else leaving..." Her answer was "Yes..."
DBW can you put up the story that says NM says they are selling to a major.
If you are on about the DGR presentation, that is not exactly what he said is it.
Ha ...that too
Been interesting reading of late here, strange the company sees fit to let you find out about Ingo through linked in. The clock is ticking on the BOD to start producing the goods here now and I've got a feeling they have something up their sleeve.
Interesting Nick openly admitting the intention here is to sell to a major ...... as if we didn't all know that already ..... well almost all :)
Do you mean our nose...?
Welcome back matey...
Totally agree Add
They’ll be so far behind the curve it’s crazy.
Was on a plane yesterday full of people coughing and sneezing….. unfortunately if we ever want normality we have to just let it run now
to see the impact China's futile attempt to achieve zero covid has had on Rio's results.
BP finally banned after 6 complaints...
I wish some of the posters on here would get put on gardening leave.