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Thanks sjn
https://twitter.com/dgrglobal/status/1559026363633647616?s=21&t=KHg8qsKDykPQkJulV01gvg
Quady NC/BHP joint bid maybe but there again there's alot watching solgold ATM ,bounce coming as we wait imho gla ONWARDS and Upwards solgers gla
DGR Tweeting about likely heavyweights battling it out for Solgold with a screenshot of an article in the Australian Financial Review. DGR share price spikes 10pc at the moment.
Watch out for .... " redknight1 " posts
Not only has RED on the nickname
in the latest posts
and also in the ( its ) Forehead
The truth looking at what has happened lately.
SP has been decimated due to expectations of raising money now.
But the plan has been stopped just now.
So short term should see the share price bounce back, at least the Metals are doing that already, next should be SOLG.
Monte your missing the point, the mining community have been expecting a bid every month since 2013.
If you understand why a bid hasn't happened up to now, then you understand why we will not get one in the immediate future. If you don't understand why we haven't had a bid up to now, then you probably think a bid is on the way.
I have always said that the most probable course is we proceed to production, given the diverse book.
No one party can force a bid. ( and many other reasons ).
We may well get a bid in the future ( I have always said that, only addicknt and a few others rewrite what I have said )
But it will not be before we have a CFP to construct Cascabel.
We have come this far, have patience we still have some way to go.
Or perhaps we can be more precise now using our past experience and say it failed because BHP and NCM said NO to any royalty portion or NO to any cash box to one new investor like Barrick. Eitherway, we know what NCM and BHP prefer and we know that's not in the interests of ALL shareholders.
As Twigger alluded to.. if BHP and NCM don't like they way things are going and think they have a better way... then lets hear it?? Lets see what alternatives they have for shareholders that doesn't involve a royalty deal. Put up or shut up is my view and the sentiment of Twigger and SOLG as far as I can see. If the only idea they have is a heavy dilutive equity raise then that's not going to fly. So come up with something else or SOLG goes down the royalty route and they can do what they like. Trying to pleas these big two is a fools game. You may as well hand them the keys if you are going to do that.
The failed fund raise tells us everything we need to know about who is pulling the shots here.
It failed because certain shareholders were not happy with it. I bet most of us can guess who those shareholders were.
Quady
The reason we are expecting a bid, is because almost the entire mining Community is expecting one.
It is true Solg say we are going to production, the reality is that BHP are almost certainly not going to allows us too.
It's great to have ambition in life,but in business just like in life, it's very hard to swim against the tide.
Bozi sorry I didn't see his post earlier we are a point though now that something has to happen last quarter nearly here
Pad
“Quady- you’re an intelligent man”
That made me chuckle
Bubble - did you not SharketMare's post before? There are options available to Mather and his goose, whilst cooked in a personal capacity, might be saved from the pot as far as his position with DGR goes.
I think one thing is for certain and that is we won't see a proposal just yet. It would make sense for any suitor to buy their time until SOLG has less than $10m in treasury. If Darryl and Co have no avenues to turn to then, and only then, might we see the white flag from our management.
Many twists and turns to come and likely share price volatility with it.
Pad yes indeed this has reached a pinnacle point NM knows like you say he's maybe got only a few months left so does he push this and say buy us at fair value or allow others to draw on yet another finance deal costing yet more shares into issue diluting us even more then bang consolation wiping out most small pi's original investment,now's the time to show your hand NM get this sold
Quady- you’re an intelligent man. Surely you know a bid in the coming weeks is a very real possibility?
You can see it in the stars! (Or maybe you need a bigger telescope).
I think you do accept this really but are teasing us all.
Yes Bubble - a takeover is on the cards.
It seems the recent financing which fell through has highlighted the friction between the NM camp and the BHP/Newcrest camp.
Clearly BHP want financing through more shares for them and dilution for us, whereas NM wants the streaming route like the Franco deal.
The gloves are off. Offer fair price for the lot or risk the Franco type deal.
Us PI’s will be looked after as a consequence of NM’s handling from here. It’s got to happen before December AGM. certainly BHP are not going to do us any favours if they can get away with it.
Can’t see BHP wanting to lose this rare, valuable asset. I see a bid within 3 months. Fair value being your original £1.32 Bubble unless they go hostile.
All IMHO GLA
All this speculation is ignoring the official communications from Solgold.
Could anyone tell me why we are expecting a bid.
As far as I can see, we have no bid, not even a rumour of a bid, otherwise the share price wouldn't be what it is.
Going to get interesting again looks like takeover coming gla
I do like a good DF novel Damers, as long as we get a satisfactory ending ;-)
I hope you didn't find my earlier post too 'Dick Francis' davethehorse :-).
Lots to look forward to over the next couple of months - current SP 23p - bonkers.
Lots of positivity all of a sudden, could see a decent rise in SP this week...
thanks DBW
R's
BN.c
A Moran update might help stem the low share price. When will the facts come out?
Following completion of Hole 42 at TAM on 29 April 2022, the drill rig was moved to the Moran target to commence exploration drilling of hole MOD-22-001. This hole is at a current depth of 414.7m and continues to intersect bornite and visible chalcopyrite copper sulphide mineralisation from 19.1m to its current depth.
Thanks BBG ……
“Now that BHP has the chequebook out for a big copper deal, the spotlight has turned on other potential targets in the sector.
Analysts reckon OZ Minerals is just one of about a dozen future-facing commodities plays in the $1 billion to $10 billion range, all of which could hold appeal to BHP and/or a big mining copycats.
The list includes Australia’s IGO Ltd, Nickel Mines and Chalice Mining, Toronto-listed Lundin Mining and Ivanhoe Mines, and a bunch of overlooked African base metals plays trading in South Africa.
But the one in the analysts’ lists that caught Street Talk’s eye was SolGold, which is based in Brisbane, listed in the UK with about a $1 billion market value, and has a following among Australia’s resources fund managers and analysts.
Unlike BHP’s current target OZ Minerals, SolGold is attracting headlines for all the wrong reasons. The company lost its new CFO after only a month or so last week, butted heads with some shareholders over a pulled equity raising in July, and is short on near-term cash.
What SolGold does have is a big and promising copper/gold/silver project in Ecuador, called Cascabel, that it is trying to develop at a $US2.7 billion ($3.8 billion) pre-production cost this decade.
If all goes to plan, SolGold reckons it could mine Cascabel for 26 years at 210,000 tonnes of copper equivalent a year (about the same as BHP’s Olympic Dam mine), and generate $US14.4 billion cash flows after tax, based on copper at $US3.60 a pound. (At recent spot prices, it would be $US16.3 billion in after tax cash flows, according to SolGold’s presentation to fund managers dated last month.)
SolGold owns 85 per cent of the Cascabel project.
While SolGold couldn’t raise equity at the drop of a hat last month, it’s not because it doesn’t have deep-pocketed backers. Quite the contrary.
SolGold’s two biggest shareholders are Australia’s BHP and Newcrest Mining, with toehold stakes worth 13.6 per cent and 13.5 per cent of the company, respectively.
With SolGold reported to have only enough cash to see it through to the end of the year (after scrapping its recent $50 million top-up), there’s bound to be a time in the next few months when its two big Australian shareholders will have to decide how much they want Cascabel.
If it’s a bit, then the two shareholders will have to tip into an equity raising and try to maintain the status quo.
But if it is a lot, like some analysts suspect, then we could see a pair of Australian heavyweights in a ding-dong battle.
The company’s annual general meeting, slated for November, is a key date to watch”
It’s hitting up now …. Someone best get on the blower sharpish to BHP/ NCM and tell them we’re taking this to production …. Surprised they don’t know that already ??
Someone has kindly pointed out that DGR have been selling down their holding in Atlantic LITHIUM...
They must have a very good reason to sell such a good prospect in favour of clinging onto SOLG...
Refrain- the battle for solgold is about to begin