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Anyone know why anyone would be in a rush to bid for Solg? Wouldn't it be better to just let Solg prove up current sites, produce DFS and spend their own funds on the regionals and get Solg at effectively a cheaper price net of this expenditure?
Whoops! meant sail, not sale. Must have selling on my mind.
Q, I think you assume any bid will be hostile - in my opinion it will be an agreed deal and it will sale through with the board's recommendation.
There will be no bid in 2022 ..
I will get sub 25p in the meantime for a trade...
Addicknt that's why I said 30%.
However a mandatory offer doesn't mean it will be accepted.
Q, I take it you're aware that ownership of 30% triggers a Mandatory Offer?
Rumours of a bid for as long as I remember - no one has a clue what will happen next with Solg and that would include Solg itself. I include myself as clueless at the top of the list - nobody has predicted anything correctly including the timing of the PFS and those constantly shouting over others have not got much right.
I guess if you say bid or production enough times you will be correct and demand bragging rights.
So what is the next RNS ? Funding requirements, a regional JV, results of some hole dug up 1 year ago or another tier 1 discovery .
I am mouthing off as down a huge amount from pre-PFS announcement solely down to my own greed.
Those day trading well down, just wish I could always sell at the top and always but at the bottom -guys what is the skill to do this in reality and not in some deluded dream.
SharketMare if you want to play with words then so be it.
By no bid rumor I mean no substantiated bid rumor .
Are you happy now.
It doesn't change anything.
Quady, you've answered a question, but it certainly wasn't the one I asked. I suggest you look up the term 'bid rumour' to understand what it means.
SharketMare I have answered that question on more than one occasion.
But for your benefit I will rehash my argument.
Firstly the diverse book means the attempt to buy out Solgold, means that they must secure blocks of shares from stakeholders who won't sell cheaply.
Next no one is going to make a bid if they cannot secure most of the blocks of shares.
So what do I count as evidence: It would be that a single entity owns more than 30% of Solgold shares.
Even that doesn't mean their will be a bid. But it makes it more likely than the current situation.
Q, unfortunately I've never understand this concept of a "full bid".
Quady, if one of the most reputable industry publications writing about a potential bid doesn't constitute a bid rumour in your eyes, I'd love to know what does?
Addicknt of course not. We are open to a full bid, but that is not going to happen for all the reasons I have said.
SharketMare I have read it.
Articles in journals and broker notes have been predicting a takeover for over ten years.
It's not worth the paper it's written on, as it's a pundits opinion with zero evidence.
Q, so, is it your opinion that when he made the comment about the two plans and then subsequently said on several occasions 'we're open for offers', he was joking?
Quady, I have unfiltered you after taking a couple of weeks break from this board. Here is an article from Mining Journal in March 2022, stating rumours of a joint bid for SOLG 'within months'.
So your statement below that 'we don't even have the rumor of a bid' is simply untrue.
https://www.mining-journal.com/london-to-a-brick/opinion/1428389/joint-bhp-newcrest-bid-for-solgold-%E2%80%98within-months%E2%80%9D
addicknt the market is not confused.
It's understands the situation.
We are going to construct Alpala, their is no ambiguity.
You are hanging onto one phrase ( Plan A begets Plan B ) and dismissing everything else the company states.
Plan B only happens if we Construct Alpala.
Just look at the share price, even the rumor of a bid would mean we would be higher.
So not only don't we have a bid, we don't even have the rumor of a bid.
Languishing or not this is my best performing stock so far this week!!! Yikes a sign of the times
CD, the company has made a rod for its own back. In one breath they state they are taking ENSA to production and in the next the CEO states we're open to offers.
Some people regard this as a smart ploy, but I believe this is confusing the market and explains why our sp is languishing.
CD, what in my post have you 'put to bed'?
You assume that a further royalty deal will result in BHP/NCM making a bid for the company. If it were that simple, why haven't we already done so?
Bozi, there's an interesting paradox about the agm and the sp: The people who are most interested in keeping the price low are also those who have a significant say in the votes at an agm. However, I agree with your sentiment concerning the reaction of the retail investor base.
If the board believe that people will be content with them if all they have to offer over the balance of this year is more clap-trap about production in 2530, they are deluding themselves. They have seven months to deliver some genuine value-enhancing progress. DC needs to get proactive and to put some flesh on his "we're open to offers" comments.
"Australia’s SolGold plans to start in the fourth quarter of 2024 construction at the Cascabel copper-gold project in northern Ecuador."
May it never come to pass. If we don't get a bid this year, and we start heading into this money pit in 2023/24, our current shares will be diluted to almost worthlessness. Time to halt this pantomime before it grows arms and legs and starts costing real money. We've got a window of a few months - get rescued by a bid or get dragged slowly into the quagmire.
Quite right SM.
Your post highlights quite well the reality of why every day is unfortunately not a bid day.
I found Pad's article more encouraging in terms of the Taunton interview but aside from that, this BoD hopefully understands that it's toast unless it raises the SP organically quite substantially in H2.
That is the only thing that I think could sway the PI vote at the next AGM. Even then they are skating on thin ice.
medar, if that is the case then you can expect retail investors to be well and truly shafted in 2023. I said in December last year if SOLG still exists this time next year we're all in trouble. Given the market reaction to the PFS, which I imagine the BoD would have hoped would've meant raising funds at a half decent price, I don't see BHP/NCM bothering to make a bid prior to the next AGM unfolding. Why would they need to? They will be able to maintain their share in the company with any new fundraise, and have a few months to prepare another crack at undermining market confidence in the 'old guard' still sitting as directors BoD.
As a retail investor looking for an exit in the next 6 months I'm now pinning my hopes on 1) a 'white knight' type situation whereby a third party comes in and bids for SOLG, thus forcing BHP/NCM's hands 2) a discovery at one of our tenements that the market simply cannot ignore. If we find 'Alpala 2' then we surely have to re-rate substantially. In all honesty, I wish I'd sold up and taken my 70% profit a few weeks back at 40p (good old hindsight).
Many of us - myself included - claimed that 'this time felt different' as we started to re-rate in the first quarter of this year. Then the PFS was delivered and the market shrugged its shoulders (admittedly not helped by the broader macro picture that is hurting most equities). Ultimately, if you have the time this share will come good by virtue of the sheer quantity of metal we own, for those of us looking for a swifter exit, who knows.
Whichever way you look at it and...accepting that Darryl is on roadshows and Ingo is working g on the MD&A, its uncannily quiet at SOLG towers...