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Well there's your RNS ,good ,bad,in the interests of all shareholders who's going to come out winners now?
“SolGold also continues to assess potential alternative funding structures which may involve strategic investors”
Hmmmm
nm
Who would want to buy Cornerstone...a portfolio of prospects with ENSA the jewel in the crown...
I think CGP would rather S/O bought SOLG...much better economically for them...
No Talatum...
At 15% you have to state your intentions regarding the stake...they would reach that...
At 30% they would have to state whether they intend to make a bid...3% short of that...
So from their point of view I see a 51% stake in Cascabel as preferable pro tem at least...but then why not bid for the whole ball of wax...?
You should post more often PBOW with authoritative insights like that. I entirely agree...
If you remember Fortissimo, my preferred scenario was either or both to JVCascabel and IPO Green Rock Resources ( which includes Porvenir)...
Much more complex to IPO ENSA with Cornerstones 15%...wouldn't leave much headroom in equity raises before SOLG was left with only a minority stake...
Do we think Cornerstone will be bought out before Solgold and for how much? Thoughts
No Talatum it would still be under 30%.
If BHP bid for NCM then would it not increase their holding in Solgold to a level that would be unhealthy for the the share price of Solgold. Is there anything in stock exchange rules to counter this eg requirement for BHP to reduce holding or bid for Solgold.
You turn if you want to.... the Quady's not for turning.
Code 1 trade after bell :):):).
Out of interest why would staff need to be based in Ecuador? I get certain roles but surely most would remain in home country? My old company did major projects all over the world. Core team based in the Hague the ones actually needed on the ground in the country of the Project. On my project it was like 10 people 300 million USD project for us. The Client though which was also Dutch had maybe 3 foreigners in country and for them it was a billion USD Project. The lead guy was a local though clearly a figurehead with political connecitons.
Thanks for your thoughts - makes sense to me. We are all thrashing around trying to guess the unguessable, and all are frustrated at the wait for news. As we are now in the European equivalent of Ramadhan, we may have to sit on our hands until September - or maybe not, that's the maddening thing!
BHP has a long way to go on ESG.
https://www.thisismoney.co.uk/money/markets/article-10946519/amp/Sexual-abuse-shaming-mining-giants-Rio-Tinto-BHP.html?ico=amp_articleRelated_with_images
forgot to add, majority of staff required for such an IPO on ENSA would without a doubt be required to relocate to Ecuador as that's a given. Hence some staff won't want to do that if Brisbane, London or Sydney based. Lots of commitments required when developing projects in countries like Ecuador. Many of SOLG staff are already in Ecuador so only upheaval for a few.
I think we are going down the IPO route. Spin off ENSA and then BHP can take what stake they want but will need to pay the going rate or buy chunks off other investors post IPO. Probably then list that ENSA SOLG Copper and Gold entity on North American markets with $1.5bln to $2bln market cap. SOLG retains decent stake. Then SOLG becomes a pure exploration play based on folio and we all retain shares in that. Valuation of SOLG would be boosted based on the IPO value. Exploration staff would be retained or bolstered and some staff would go over to SOLG ENSA etc. So plenty of moving about in that corp action. That scenario would allow SOLG and Mather to continue to deliver more and more Tier 1 assets but no guarantee of course. Think that's what Mather has been after for a while. He doesn't want to be taken out and see the buyer get the entire SOLG folio for almost free. New lady CFO is specialist at doing IPO and spin offs to gain greater value for the main entity. Above scenario could have conditions if favourable to BHP that they can't acquire SOLG for 24 months etc allows for SOLG to find more Tier 1 assets but would have a clause to say BHP would be able to bid if SOLG was bid from outside player etc. Agree on the NCM... think the BHP might swallow them up but I did hear that they were looking at Glencore so shows you that even NCM is small fry compared to that kind of deal. All guesses on my part but think we'll be at 50p to 60p+ based on the above scenario.
I also clocked a profile I am almost certain to be redknight's whilst sleuthing through LinkedIn yesterday.. Made me chuckle.
I agree othern. NCM share price is dangerously low at present and would have to be somewhat enticing for BHP to have a crack at them. They have quite a few decent copper prospects and heaps of gold of course. It would make a lot of sense imo for BHP to bid.
With all these posts suggesting possible bids, wouldn’t it make more sense to suggest a JVA between Solg@ Alpala and one of the heavies invested in Solg?
Solg have done all the surface work/ PR / licences/ government liaison, now they need a major to partner up for the actual dig.
And it avoids all this speculation about rejected bids and offers.
Z
snowman, me too.
Addicknt, I see Boliden as looking for an off-take agreement. Not a full-blown takeover.
Would love to put a face to some other posters here.
snowman, yup, looks like it! Whoops! Still, nice to be able to put a face to the name.
There was an interesting comment from the bloke at Boliden. "Thanks for your co-operation, Ingo".
I am actually a bit worried about people being forced to leave in key roles without any clear reason for us outsiders. Is it some power play games in a corporate restructuring or is there something more seriously wrong?
(btw, RK1 you might have given away your identity with your comments regarding and on LinkedIn.)