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Orthern, thanks for this, but I'm confused. Is it good, bad or indifferent news? Are there implications for Cascabel?
Sorry BPHIL I meant to put “if there is “
I also think it’s close and can’t deny I hope it is but sadly neither are facts!
Sorry to be pedantic, Aqui , but the only way that is not a factual statement is if you think there will never be a bid ....and only Quady thinks that :)
I also think we are very close by the way ...
Redknight classic!!
“ It wouldn't surprise me if we are as close to a bid as we ever have been... ”
Of course we are!!! It hasn’t happened yet and as any bid is in the future it is always getting closer!
You make some good points but please try to reign in the ramping. It does you no favours.
Jerry,
What's your average holding price on SOLG?
Sorry Colonel, not corporal….
rk, i don’t disagree that it should valued way higher, but it isn’t. i have analysed a few deals in the past and mining deals are the hardest. some many things unique to every deal. grade, tonnage, depth, impurities, aisc, jurisdiction, local skills, taxation, legal, management (!), sales route, ownership. probably missed a few.
not sure i want to put my trust in belief statements…..
as i have often said ‘great asset (i think), absolutely **** management’. something i think even the corporal will agree on.
My read is as follows:
They saw the writing on the wall and thought, 'why stick around to be defeated at the AGM'.
But the question is, what is the writing on the wall.
The votes at the last AGM suggest Clare was toast anyway and Twigger may have had feedback that because of his poor corporate governance decisions in the past, the likes of BHP and Newmont could not support him as Chairman. And if he was not Chairman, nobody would stick around as a lame duck Director.
It may equally be that when the CGP guys came on board they agreed that he could stay because they expected a sale of SOLG early in 2023.
But heres another possibility....the 'writing on the wall' is that SOLG will be bought out before long, so there is no reason to hang around. They wouldn't need to sell their shares. It wouldn't surprise me if we are as close to a bid as we ever have been...
I do hope Maria stays because she is sound, truly independent and truly well connected in Ecuador. I was sorry that Elodie went, but Scott was slimming down and the focus was moving to Ecuador and Australia and she is London based. Equally, although the cash box fiasco was a major factor, Ingo did not want to be Oz based because he has a young family.
So what of Scott and Dan. In theory they could both get voted off but why then appoint Steve? Doesn't make sense.
Even if Scott was voted off the Board he could still stay as CEO.
If the lot get voted off that is hardly a vote of confidence but I believe that would leave SOLG as cannon fodder. There might be a short term hit to the SP but surely one or more of the serious parties in the data room would fight over the scraps and then we have a bid battle on our hands.
So I don't expect a bloodbath and I do expect Nick to survive, even though he is an anomaly...neither Independent nor an Executive Director.
But I do believe at the end of the day that the CGP and DGR interests will prove material. The institutional investors other than BHP, Newmont and Jiangxi should surely not want the company completely destabilised....
Cheers for now...
Fair enough Jerry...so you are holding what you have...please read the belief statements and the facts that I have quoted recently, such as the readacross of the Lumina deal. I may have got the figures slightly wrong but prorata SOLG should be valued way above where it is now...
Rodney I have used T20s in the past when I didn't have the cash immediately available.
Indeed I've just had two mature where I paid the cash in before the closing date. Reminder that took me and the missus to 1.4 million...the 250k I bought on T20s was at an average of just over 9p...
I have never been more confident that the next few months will resolve everything.
Just look at what credible people like Irwin, Middelkoop et al are saying. And the Analysts average is over 60p.
But above all I am ultra bullish about gold, copper, silver and Junior Miners...its time...and either SOLG will get swept up in that value uprush or it will scare one or two predators to come out of the woodwork...
Colonel, the money that Franco and Osisko paid is because they expect it to be mined. But it doesn’t assume that Solgold will mine or sell it for a high price. Just whoever does mine it will be on the hook to both of these parties. They really don’t care what happens to Solgold.
I won’t discuss GGP with you cos a) this isn’t the place b) you are completely clueless about the company c) you have no interest in GGP and d) why should I waste my time telling you what is going on there?
Redknight1
Posted in: SOLG
Posts: 7,923
Price: 8.65
No Opinion
RE: Death...23 Oct 2023 09:47
Scott says..."theres news coming..."
Scott says..."the SP should be at least double..."
Irwin confirms the takeout should be c70p ('Asset Value')...
And the SP continues to slide...
However...
Bought another 100k at 8.71p on a T20...
RodneyT
The ramper can’t help boasting and ramping on anything that moves…..
He ramps and de-ramps according to his position and lies when challenged, suspect this position was closed at a loss over the past week. He had another 2 positions in the 9’s
redknight1
Posted in: SOLG
Posts: 7,923
Price: 8.65
No Opinion
RE: Death...23 Oct 2023 09:47
Scott says..."theres news coming..."
Scott says..."the SP should be at least double..."
Irwin confirms the takeout should be c70p ('Asset Value')...
And the SP continues to slide...
However...
Bought another 100k at 8.71p on a
Jerry,
What's your average holding price on SOLG?
Jerry, there have been a few hurdles to jump this year with politics and redtape etc. But you should know by now that timelines are not a guide to whether something is attractive or less attractive. Nice side step on Franco and Osisko though. Can you explain why after doing extensive due diligence Franco (world class player in industry) decided it was a good idea to chuck $100m at SOLG... Osisko chucks $50m. This is not small change. These guys know that Tier1 mines get built and they don't need a hope and a prayer. So maybe it's sensible to listen to the major industry players than your neighbour?
Out of interest... why hasn't someone gobbled up GGP? Mmm! Tell you wot... don't bother answering that one.
RK, I have absolutely no interest in catching this falling knife.
My investment has been written down by the market, sadly quite rightly in hindsight. I don’t expect to get my money back, but will be delighted if you are right and I am wrong. I think both you and Fort are reciting the traders prayer about 20 times a day on here and elsewhere, with hope rather than belief, emotion rather than facts. But that’s your prerogative I suppose.
Colonel, if you were right this would have been sold by now. It’s hasn’t, so you aren’t.
Has Red ever said that he has T20s outstanding for Solgold?
If you want to get the attention of SolGold and voice you concerns pre agm like other investors, do it on Twitter and @SolGold. This BB is for pensioners to wile away their days and have pointless arguments with other small time investors and wierdos. Join the debate on Twitter ......
https://twitter.com/Mark_IKN/status/1725514582960087202?t=gD2BXAdALXU4Sl2wGVf_qg&s=19
Oh dear the red ramper hasn’t taken too kindly to some decent discussion about the asset.
3 t20s losing cash and due to close not affecting his view at all.
People only trade t20s when they don’t have cash, that’s not surprising considering red ramper was ramping in the 30s…..
He is living in a fantasy world
Whaaat! Another 1/2% makes it less saleable?
When you look at how p****d off BHP and Newcrest were when we gave FNV 1%, it might be a smart move...
The Operational cash burn is c$1 million a month. The SP is not going to stay at 9p indefinitely...it fell from c14p to sub 8p because Berry Street was a distress seller...
Gold is going up
GDXJ is going up
Copper is going up
Silver is going up
Equities are going up
We're on the cusp of a Junior Miner boom
SOLG is going up...its only a matter of time...and the higher it goes the more likely to flush out a bidder.
Mitsui publicly stated they wanted to buy Cascabel in a meeting withe the Ecuador Minister for Mining.
Are you holding shares Jerry or looking for a lower reentry?
Jerryspaniel,
Franco $100m. Osisko $50m. Both did alot of due diligence. I'm happy to bash management all day long but bashing the asset is nonsense. It's world class. Great metal mix and not surprising that both BHP and NCM got in there fast.
The asset is never in question. It's off the charts. Top ten find globally.
So no one is 'hoping and praying'. That's your conclusion.
The big miners are all seeking out copper/gold opportunties. 20+ interested parties in SOLG data room so one assumes at some point... someone will make an offer. Natural market forces come into play.
But the management team at present are not equipped to deal with Tier 1 assets. That's become obvious. And that's been the problem over the last 12 months.
As far as I'm aware there are not many mines out there today the size of Alpala that can be mined cheaply. None. Tier1 mines cost big bucks. They are made for super majors not minnows.
RK, As a former building society exec, you must agree that having 6 months money isnt exactly cashed up. Assets in the ground is exactly that, in the ground. More streaming deals just prolong the agony as it makes the company less saleable.
Point 2, they may not have a choice.
If you know anything about Wyloo (and I do), you will agree that it was a unique set of circumstances that wont be repeated here, as there isnt another Wyloo.
And finally your last point, No, not much.
Add
The other conflicting reports are by people posting on twitter/X who have an interest in a higher share price.
Hardly an unbiased report/view.
Jerry’s post is spot on imo
1 We're not going to run out of money...we have 26.7 million ounces of gold and 12.6m tonnes of copper...we will ALWAYS be able to do a streaming deal. This is NOT SXX...nobody would have wanted to do a streaming deal for polyhalite
2 There is no way the Directors or even the shareholders will accept even a bid in the 30s. You might but they won't.
Would BHP or Newmont seriously let Jiangxi have this for 30p...look what happened with Wyloo...don't the Broker targets count for anything...?