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Can't be bothered to do the maths but since he was offered his options I believe we have spent most of the time sub 25p with a considerable amount of time in the mid teens and more recently a lot of time sub 10p. Therefore based on an AVERAGE sp of 25o the sell price would have to be north of 30p and probably quite a bit higher?!
Bit ironic considering the so was 26p prior to him arriving so that would be a reward for doing what exactly??
It's all based on 3 years which is ridiculous as SOLG won't be here in 3 years and the entire strategy has always been to sell the business as Scott made clear... 'we are not developers, we are explorers'. mmm.
So let me guess... he gets 100% if the business is sold for 25p or more?
Well he’s not off to a good start!
Sorry, posts always seem to corrupt when I mention options:
0 if 3 year SP is less than 25p
50percent if 3 year SP is greater than 25p
100percent if 3 year SP is greater than 35p
P77 of 2023 Annual Report for the details:
Basically 30m @ 17p, but with vesting conditions:
he gets NOTHING if 3yr average SP 25p
he gets 100% if 3yr average SP >35p
So he'll be looking for 25p minimum (barring some dodgy treatment on any agreed 'sale' of SOLG).
Indeed they weren’t over ambitious, just trying to figure this out…..they hopefully won’t have to use the CGP shares anywhere near these levels
Too many @ too cheap
Anyone remember the numbers and pricing of Scott’s options?
Interesting theory Fort. Makes sense.
Right now, the joke is on Bob!
Well maybe we should auction this. Slap some lipstick on the pig and trot it out with a low reserve
Yep agree.
What forces a bid? Ego's do.
BBG. I'm not, I didn't say that, I said we had 3 major shareholders I didn't say I was expecting a bid from anyone.
My point was why should anyone show their hand first ? It's the worst thing to do, if there is another bidder you are 3 bids in to stay in the game not two. I buy a lot at auctions,it's mainly psychological.
Lol
Sweet! No Freudian slip intended
I would imagine with it being Valentine’s Day, most men will be preoccupied by servicing their boilers to keep them sweat
I wouldn’t necessarily expect the PFS today or tomorrow, besides is something so close to the midpoint of Q1 really classed as “early in Q1”?
Jezzo, Fortescue bidding for SOLG will force the hand of current majors hareholders.
Why are you only expecting a bid to come from current major shareholders?
SOLG will be doing it best to drip feed BHP and Newmont to keep them guessing (just the way they are doing to us).
Yes, FWIIW, I think any revised IPA will come once Noboa has assurances that it's sold or a deal has been done etc as I think they are both likely to be linked and there's not much to gain by agreeing a new IPA when sp is 7p as it may attract or upset the planned behind scenes talks. It's probably already been agreed and has been parked while they finalise deal/sale discussions.
Chinese new year at mo but that ends next week.
Feb 14th represents exactly the half way mark in any normal year but this year is a leap year so he's still true to his word if he delivers PFS tomorrow morning but it's by the skin of his teeth.
MD&A due by close of play or Aussie time, so could get two RNS's tomorrow or actually a few if they include a royalty deal $50m announcement. I don't mind if the latter is delayed a little as it might suggest 'interested parties' are close to agreeing a monetisation event and thus further funding not required. It's all going to kick off here ... imminently.
I think that’s about fair as a starting point ….. from here that’s still a big premium. Shame is most of the damage over the last few years feels largely self inflicted
If an offer of 25p landed, I can't see BHP agreeing to it. Or NMM for that matter. Not to mention a bucket load of investors out there that know it's worth much more.
But there will be some newbies in at 7p levels that bite the hand off and a few other weary ones. So that helps with giving any 25p bid some credibility. Ultimately it goes on Asset value and industry benchmarks minus the risk discount. So the sp will need to reflect this. 25p would not succeed, but it might draw a few out.
Fort …….
“I think Bob is going through the current phase first... which is what is it going to take to make a crap bid look good and grind shareholders into the ground so they feel like they have to accept it”
That’s certainly how it feels ….. the question is what level.
The recent dire share price performance added to the seeming willingness of the board to just let it drift to make you wonder who it suits.
Which contradicts Bob’s recent comments that he sees Cascabel fair value starting at around 60c Cu equivalent in the ground…… roughly 60p.
So as always it’s as clear as mud
It’s almost certainly a fact they have deliberately crashed the price in order to entice a monetising event.. Watch Scot and the boys claim a great result when it goes for 25-30p.. and they absolutely will boast about how they achieved a circa 300% premium.. bonus’s and backslaps all round guys… good job!! They will praise each other’s great contributions and hard work getting it done..
Just don’t look at the fact it was already hovering around 20p before Scot and the boys took over..
Problem is Jezzoo it is insurmountable as long as major players hold a share, because they won't budge, so we need an agreed offer in order get a sale.
I see that our most unintelligent poster on here still doesn't understand that the register is also called the book, but then again why should he, that's part of what makes him the most unintelligent poster on here by some considerable margin.
Fort, this is ultimately it. Glad to see you come around.
The figure you mention will be top end of where this plays out unfortunately. It's about positioning accordingly. Anything else is a Bobby bonus.