SolGold Share Chat (SOLG)

Wouldn't be more relevant to discuss the merits of the current exploration plans and potential points of attack for BHP and NCM in terms of launching a bid rather than talk about events that have aready past and should have secured a much higher bid price in the future?

Anyone email elisa about Rio recently?? I believe it's due to kick off any day now.

The amount of metres being drilled across what looks like 6 to 7 rigs is huge. The Cascabel success got lost in the NM/AGM fanfare yesterday but I woud urge investors to have another look at the RNS. It's really very good.

It's possible that if Rio can get underway over next few days that we could have a discovery RNS as early as end of this year or very early in Jan. It's a tough call to hit the pay load with hole 1 but the way they have been going of late, there's every chance the geo's get it right again.

I don't believe there is any other miner out there right now delivering the kind of impactful exploration campaign like SOLG's.

NM cannot be accused of not throwing the kitchen sink at it. Why do you think he is doing this so rapidly? What's the rush? If you use your heads then you'll know the answer. The clock is ticking and I fully expect the share price to explode higher very very soon. It's been consolidating nicely in the mid 30's. Great platform for a sustained climb through 40's and into the 50's on better news, assays and other developments. Now the AGM concerns have gone, I suspect punters will be more willing to buy into the next exploration RNS rather than derisk ahead of possible AGM issues. I think that's the only reason why the Cascabel news got a luke warm response.

Red thanks for the link but it 100% supports my view...you don't discount the votes that the CEO owns and the board takes the ceo s ownership into account and you need a majority of shareholders to get rid of the ceo..
A majority didnt, therefore there is nothing they can do.
It's not just you red, but I've asked another of times where there is evidence that a minority of shareholders have forced out a CEO like this? It doesn't happen imo.
Unless Nick wAnts to leave, he's got the job for now and will likely cement that position, he might even try to put a wedge between newcrest and BHP by offering them something, mAybe with a threat of issuing shares to the Chinese, franco, barrick etc.

Completely missed the point Quady...

This is nothing about whether to accept a bid or not...

Its losing the confidence of major shareholders and in total 44%, against those who were supportive OTHER THAN the CEO, i.e. only 35%...

Exactly...but it helps if there is a common agenda...Nick has lost the support of three major shareholders at least for his...

Hello Redknight your link says that CEO's are often sacked by the BOD, when they disagree with him.
Are you trying to tell me that the BOD think that we should sell this cheap and not go to production.
I have seen no evidence that that is the situation.
If NM's job depends on the BOD supporting him, he is here for the long term.

"Founders or CEOs are often fired by a vote of the company’s board. If the individual at the center of the drama does not own a controlling share of the company, there is little they can do to prevent themselves from being ousted...."

https://hellofocus.com/blog/how-can-a-ceo-or-founder-be-fired-from-his-organization/

"a resounding vote of support from those without an agenda..."

35% at least (even without Valuestone) DO have an agenda...

19.8% (Nick) has his own agenda....

Sorry but the maths don't impress me...nice try...

Read my next post...

hate to muddy the waters with some details but did some no crunching yesterday as follows for a little perspective.......

If you tot up BHP (13.5%) NCM (13.5%) CGP (7.5%) & BLACKROCK (5.5%) this comes to 40%
the "no"'s to the left therefore gained and additional 5% of votes (45% in total) if we included BLACKROCK on that side.
if we discount BLACKROCK then its a gain of 10%

on the "yes" side we have
NM + directors with 5.3%, DGR with 9.8% & Tenstar with 5.7% a total of 20.8 % - so to get a 55% of the vote they gained 34.2% - almost 7 times more than the "NO's" did..........
Even if you count BLACKROCK on the SOLGOLD side - this then equates to 20.8+5.5 = 26.3%
55% less 26.3% = a gain of 28.5% so almost 6 times more votes on the "YES" side v the "NO's"

In this light then, this really does ring home as a resounding vote of support from those without an agenda (ie the no's) who in the case of CGP we know want a sale to realise their investment pdq.......... and obviously in the case of BHP & NCM, they want to get their grubby mits on the project for f-oo-k all..............

so in my novice n humble view - it seems too me that we won this scrap and quite resoundingly!!!

food for thought when put this way no???

r's
bn.c

Owan, ha ha ha you are funny, they don’t expect Cascabel to got to production, it’s their business model lol.
I would like to converse with you more as your entertaining, but I have just spotted a rain drop on the window, it’s just above another one, they are travelling down slowly and I’m wondering if they will become a JV, going to have to go as I don’t want to miss this

Atb

that is actually there business model. They by no means expect Cascabel to go to production. I'm sure that this threat is only a threat. I really don't think this will every happen and CGP's strategy will eventually be rewarded.

I understand but they can only carry out a drill programme or even pay their operational bills by issuing equity or selling SOLG shares...like they did last year...

Cgp wont care about dilution. They are trying to avoid the situation where they have to stump up cash for the alpala mine dev or lose their 15%. Even if solgold issued another 3bn shares they would still have 15% of Alpala.
But they are in a really dodgy position. A new board controlled by BHP or Newcrest could still squeeze them out (which i think is what Nick would do). A lot depends on the personal relationships behind the scenes. Which we dont know about.

Given Solgold’s propensity to use Twitter I’m surprised they have used it to announce the AGM “victory” ....any reason ?

Cgp one $80 million dollars of SOLG. As a block this is probably worth quite a bit more. That's hardly a company that's insolvent

Hi Redknight I do define anything under 1 pound as lowball, as that values us at just over 2 billion pounds and we have a PEA at 3.3 billion pounds.
I may consider 2 pound a share as lowball, should we get a PFS over 6 billion pounds NPV against a 4 billion pound offer.

No Quady...none of us want a lowball...and it won't happen (unless you define 80/100p opening bid as lowball...?)

Owan, let’s just say they went along with others with a deal on future costs, maybe a decent purchase price once Alpala is in production. Many ways to skin a cat especially if there is certain personalities involved.

One of many scenarios

Thankfully ohwhat your opinion doesn't matter, replace it with Mark zuckerberg, or anyone of hundreds of companies...The ceos share holding is counted in any votes otherwise hundreds of ceos would be out tomorrow.
It's the principle and the law.

Sorry ohwhatanight you miss Mathersfingers point, they couldn't care less, CGP want a bid, so they cash in.
They don't care if it's low ball, the point is many here do, including the majority of the PI's

omg pactrol...major miners act far more responsibly than that, which is why I'm seriously worried for Nick...I truly believe he's a 'dead man walking'...

CGP have their own agenda and look at the barrel of tripe they've spewed into the public domain in the last year or so...

Their vote against NM was a given...if BHP and NCM also did they have their own agenda...and what NM should seriously worry about is if BHP and NCM actually acted in concert behind the scenes...not only in voting against him, but also on the withdrawn motions...

Because a low ball bid would be stupid...the first bid will have to be credible...

As to CGP...not a sitting target...a dead duck...nobody actually needs them and they are technically insolvent...

If the bid is high enough they'll throw their 7% in for sure, beceuse they desperately need the cash and they're out for revenge against NM...

Mathersfinger. Why in the world would CGP want dilution???

NM is no ELON MUSK iceberg. Not even close

Agh anyone can see whats going on here its a personal attack on nick by cornerstone as there miffed at NM rubbing their noses in it for signing away one of the worlds biggest gold fields with his buy out offer I get that. But then dosen,t that show what a brilliant Business man NM is ?

I do read Greek mythology, so not lost on me.
Redknight may I say that if I see any evidence of a buyout, I will change my opinion. ( no doubt the silly people will jump on me and point out I was wrong, I know you won't )
I just see no evidence of consolidation, I didn't even see a failed bid for CGP, apart from our own.
CGP are a sitting target as far as I am concerned.
Why no bid, I have posted what I think on the subject, but am still surprised no one had a low ball offer for CGP.
Maybe if a low ball offer for CGP had been tabled, they would have taken our bid. Who knows.