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Addicknt the argument you seek has been mentioned many times but you ignore it.
BHP have stated on more than one occasion that they will not overpay for any asset. They have tried to gain the lions share and failed. Our methods of defense have been successful. We will not get a bid from BHP or anyone else unless the book changes. It is just not in their planned expenditure.
Hi lunch
Sorry missed your post
Cornerstone certainly have to start contributing once feasibility study is complete and way before production revenue, trying to find something a little more detailed than this
“ Future ownership levels by Cornerstone may be reduced depending on whether Cornerstone contributes to certain expenditures following completion of a Feasibility Study by SolGold”
Tell you what, Buddy, why don't you continue howling at the moon and being rude to people whilst we discuss what we choose to discuss? If you don't like it I suggest you disappear - you will not be missed.
We were told that Porvenir is the “next cab off the rank” and could even be brought to production ahead of Cascabel….. I suppose we’ll be doing that one ourselves as well ?
Bozi, if you look at any of their presentations for at least the last 18 months you'll see they specifically refer to the money they are spending on exploration in Ecuador. And as the political landscape has become more miner friendly we can anticipate their interest will only increase...particularly given the potential problems in Chile and Peru.
Addicknt - on 2) - have they? What have they stated?
If you read their recent report you'll see they take great pride in distributing capital back to investors and plan to continue doing this where they see no suitable opportunities in the market.
So much for their Ecuadorian intentions.
On 3) I can't answer that as I don't control the BHP pursestrings or investment portfolio. You'd have to ask them that. But the same applies, they haven't made any offers for SOLG, Filo or other assets like Warintza(Solaris).
3 big copper gold assets in the last unexplored frontier with an impending copper supply deficit. Explain that one away...
"4. Maybe their happy to watch the SolGold's, Filo Mining's etc try to pave their own way and pick up the assets at a firesale should the company run out of social capital, actual capital and goodwill."
This is the quagmire I warn against, and where it may lead.
If these are just noises to put on a show for the bigs boys, and they lead to a better payout for us, then the BoD are playing a blinder. If it's genuine mission creep we will soon be digging a literal money pit for ourselves. This summer is the natural point for the journey to end.
Bozi …. If I’m wrong , I’m wrong ….. won’t be the first time .
But I doubt it very much , all we need now for the perfect storm is interest from a third party
DBW - there are numerous flaws with your argument.
On CGP - have you any proof they are content just because they aren't publicly vocal? Appearances can be misleading.
On DGR, another company in the stable - Atlantic Lithium - is also rumoured to be subject to offers with the company confirming in April that unsolicited approaches had been received. So, don't necessarily assume any DGR behaviour is SolGold motivated.
The EGM is being used because they fear carnage at the AGM which will render the resolutions hopeless, in my opinion. I can't think of any other reason, but ask yourself why they'd put in long term remuneration policies if they planned to sell the company in a matter of weeks?
As for the article, it's pretty flimsy. It got the PFS right(calculated guess) but only two trading weeks left in June to find out about the rest. We'll see how smart the smart money is.
Bozi.
1. That is a possibility.
2. This doesn't sit with their stated strategy and current investments. They've openly stated their intentions in Ecuador.
3. Then why have they invested? (see point 2)
4. Again, this is a possibility but comes with significant risk i.e the assets never become distressed and more value is created along the way. This has been the strategy we've been pursuing and it makes good sense.
I'm afraid the balance of your arguments doesn't lead to the conclusion the production case has any real strength.
Addinct…. The main flaw in the production argument is that there’s not a cat’s chance of it happening……
CGP and it’s BOD seem very content just sitting and waiting…… I doubt they would be if they thought there was the remotest chance of them having to stump up $400m
DGR options triggered well under the current SP , I wonder why?
EGM called ( for the first time in 12 years ) just to sort out remuneration….. again why not wait until the AGM in December…… hmmm
One of the biggest and most respected mining journals telling us where the “smart money” is
The list goes on , personally I hope the deal is just for Cascabel and we can continue to do what we do best with the other licenses…… when and how it happens remains to be seen
*they're happy to watch
Addicknt - all hypothetically speaking now but maybe:
1. They don't want to buy assets at this stage of the value curve, preferring instead to give cash back to their own shareholders and reinvest in their projects (they've said this themselves).
2. Maybe they've had bad experiences in South America in the past and are still feeling the aftershocks of that.
3. Maybe they have seen peers make a dogs dinner of large assets in similar territories and don't wish to take on the risk to their business of something similar happening.
4. Maybe their happy to watch the SolGold's, Filo Mining's etc try to pave their own way and pick up the assets at a firesale should the company run out of social capital, actual capital and goodwill.
Maybe the actual pertinent question here, given the production argument is so frail, is for me to ask you why SolGold is meandering towards 2023 as an active entity with a newly appointed CFO and recently appointed CEO, with forward plans on final studies and development?
The production argument is stronger than you think because the takeover argument isn't quite as strong as you think.
Bozi, the fault with the production argument is that it ignores the outside forces, which exist in the form of BHP, its intentions and corporate strategy. We can wish as much as we like, but until someone provides a real reason why BHP would allow a competitor to emerge and would be content to sit with a minority shareholding for the next x number of years, the production argument looks very frail indeed.
Lolzzz buddy now showing narcissistic tendencies on an anonymous BB you couldn't make it up, only 4 people agree with me WOW I'm so cut up ... T.W.A.T
Many did Sean. But more didn't. As time has gone on more and more have resented Mather for not flipping this on for a quick profit.
But then again, investors shouldn't really have been buying this if that was the model they were after, because that was never the model here. There's a lot of choice on the market. People should have been buying a company actively looking to monetise their asset. Cornerstone being an example.
I agree with some of your other points but would argue there is a route to becoming a producer. Granted it is frought with various risks but a company with Cascabel and Porvenir in production with more projects emerging from the regional portfolio does appeal to anyone who can bottom drawer them as you say.
Bozi did anyone really believe Nick's "paddle our own canoe" stuff back then? That it either wasn't vanity, or a fit of pique or simply putting on a display for the big boys?
There is no route from where we are today to full scale production that is not disastrous for existing shareholders. No one would invest in that model. No one buying today believes in that model. Not unless you can afford to wait 20 years to get your money back... which, if you can wait, fine, but are you really resigned to posting on here everyday for the next 20 years. Then it is really time to put them in a bttom drawer and forget about them - but that would involve forgetting about them, maybe leaving them to your grandkids, and not arguing with buddy every day for the next 2 decades because that really ain't much of an existence and there has to be better investments out there if you want to profit from them in your lifetime.
Oh yes agree harmless but not needed now as we approach a crucial part in SOLGOLDS exploration imho
You might as well unfilter Bubble, they are clueless and good for a laugh, (they think in their own little world) they know when certain posters invested and at what price !!! couldn't make it up unlike buddy Lolzz. Completely harmless really even after they posted on Sunday that they would not be replying or discussing me again Rent free comes to mind.
Sean- SOLG has said for a few years now that it is aiming to become a copper gold major.
So investors knew how what they'd bought was evolving.
But many continued to hold despite the company appearing favourable to a sale only in the event that a suitable offer came. To date it hasn't.
BHP, the apparent frontrunners, aren't daft either. They know they can chip away at the old guard board at AGMs, colluding with NCM and CGP.
Some, like CD, used to say they were in a hurry and had to strike now. One of a few things he was wrong about.
A trades dictating ATM not many O trades showing fairy quiet ,let's see what after close trades show today
Don't see him novice a green poster to me much better board imho
"we are going to become a world class mining company."
That means most of us on here won't see a return on investment in our lifetime.
It means massive dilution, or massive borrowing (or both) that will render the shares of today -in your pocket or in your purse - increasingly worthless as more are printed to finance "progress" down the years.
Those of us who did invest invested in an explorer, not a miner - we didn't know we were just putting in seed money for a massive decades long investment that will swallow billions before a single ounce of copper sees the light of day.
Stop these silly dreams now, they would be ruinous. There's only one way out of this that doesn't destroy the private investor unprotected by bonuses and options and fat salaries along the route. A sale.
Me
Buddy5 = witless, clueless, harmless fool...
Who agrees ?