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Good morning big boy,
Well, your Thursday morning little gloating was premature (yet again. ...)afterall.
:)
Take your time ,and GL.
..
Me fancies a trade
Bubble you will not get NCM/BHP acting in concert. So no joint bid. Both have announced they want an increased stake.
NCM have announced they are not selling.
Concert groups take time to set up.
The one thing we can be sure of is no joint bid by NCM/BHP.
Well RIO could put 2.7 billion into another project in Ecuador I can think of :)
Rio Tinto’s plan to take direct ownership of a copper mine in Mongolia has hit the buffers after its $2.7bn buyout proposal was rejected.
Turquoise Hill Resources said a special committee had “terminated” its review of Rio’s C$34 a share cash offer, saying it did not “fully and fairly reflect” the value of its holding in Oyu Tolgoi.
“A transaction at the price proposed by Rio Tinto would not fairly compensate minority shareholders for the fundamental, long-term value of the company’s interest in Oyu Tolgoi,” said Maryse Saint-Laurent, chair of the special committee.
Located in the Gobi desert, Oyu Tolgoi is one of the world’s biggest copper deposits. Once the underground expansion project is completed, it will be one of the world’s biggest copper mines, just as demand for the metal increases because of the energy transition to a low-carbon economy.
Although Rio operates Oyu Tolgoi and is overseeing the underground expansion project, it does not have a direct stake in Oyu Tolgoi. Instead, it holds a 51 per cent stake in Toronto-listed Turquoise Hill, which in turns owns 66 per cent of Oyu Tolgoi. The rest is owned by the government of Mongolia.
Turquoise Hill said on Monday that engagement between the parties had “not resulted in a consensus on value and price or in any improved proposal from Rio Tinto”. Rio declined to comment.
What is interesting (whether speculative or not) is the situation between NCM and BHP. For a while many have seen this two as acting in unison, like a combined weight. Them against SOLG etc. However as we near the end game it appears this little love nest is falling apart and perhaps NCM want more of SOLG than BHP thought. Mather is potentially the king maker here along with his other holdings and friendly investors (I add tenstar to this). If Mather agreed to go in with NCM then BHP are back to where they were with Wyloo and Noront. Pushing water uphill.
NCM might not want SOLG, but by hooking up with Mather (pitching a bid for SOLG) they could certainly push BHP into making a much higher bid than they would want.
You've got 3 main players at the poker table. Mather (20%+ combined with friendlies) and NCM and BHP with their 13.6% CGP clearly have signed up to back SOLG hence the cooperative agreement.
And of course, then there's those in the shadows. I have heard Barrick's name mentioned several times regarding Ecuador recently which makes me think there is interest in the country that is building now world moving away from Russia and lefty hot spots like Peru, Chile, Argentina and Venezuela.
If the share price starts to move up with bid interest again - we might see a bid move sooner than many on here think. Better to make a first bid with the sp in the low 20's than the high 30's.
Bring it on... it's what most of us have been waiting for, for a very long time.
To be fair, I've held shares for a number of years (I joined this board much later, having found it by accident) and the speculation of an imminent bid has been rife for as long as I've been a member. We were waiting until the AGM, waiting until January, waiting for the PFS, waiting until July and low and behold, we're still waiting.
My point here is no one knows, but the bid speculation hasn't come to anything so far, so let's allow everyone their own view without a pile on.
Starter for 10, nonetheless! A tweet that broke the camel's back and unleashed the beast - possibly !
ATB
It's very interesting that DGR tweeted this. Combined with Mather's recent comments, it appears as if he's on the outside of the tent pishing in.
https://twitter.com/dgrglobal/status/1559026363633647616?s=21&t=BofVJx1XG9OcerKr5-oRXg
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