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SharketMare would someone really give the yes or no on a potential billion £ acquisition in an email to a random stranger? No one is saying it's not true, only that - looked at rationally - the email is actually vague enough to possibly mean nothing. It might even be the plausible denial of someone holding their cards close to their chest.
The desperation on this thread is embarrassing. Some of you seriously need to get a grip. Or a job.
TI - thanks for sharing. Never underestimated the power of well written and courteous email!
Barrick are suffering. Whether that's due to their 'filters' who knows or just market woes but share price was $20 in May and hit lows of $14 in early october.
That's a huge fall for a multi-billion dollar company.
Sometimes filters get tweaked and other times CEO's get tweaked. As Newcrest's Sandeep 'Tiswas' Biswas found out.
The other obvious answer is to say nothing. Which most CEO's of multi billion dollar outfits would do. You'd think he should be a tad busy with his business to answer some email from someone that he knows nothing about etc.
I think it's quite revealing. But then... that's down to the individual.
It is the only possible answer. He can't say we are interested.
Needalife you are a veritable Henry Kissinger.
DM,
"ADVANTAGEOUS LOCATION ACCESSING EXISTING INFRASTRUCTURE"
Page 12 of September presentation.
Read it.
You seem a bit irritated these days and the nit picking feels a bit junior.
Adikt. you are as naive about world affairs as you are investing.
your little country is the master of black arts,
your little England views say it all
If my memory is correct i think Barrick calculate a mines gold value based on $1200 per once, and it has to make a profit at those levels, not sure about copper prices for profit calculations
Not foreseeing something and completely denying it are 2 different things .
Simple but important message.
https://www.skysports.com/watch/video/sports/football/12981797/norwich-city-launch-powerful-video-on-world-mental-health-day
Email him back and ask how P.akistan is getting through his filters lol!
The mining industry is smaller than many think but great to see Barrick CEO having the time to email back a pi. Some might say... he almost wanted to email back and say he's not interested. Mmm. I like that. And what happens if your filters get adjusted (as they do) Mark? Plenty of wriggle room for him there.
Back from therapy are we?
Sounds a bit like Michael Heseltines oft quoted "I do not foresee any circumstances under which I would challenge Mrs Thatcher.'
The guy was hardly likely to say yes, we have them in our sights buts please keep this hush hush.
Morning TheItalian I'm sure he would know about us Steve Garwin has a position For Japan Gold which is aligned with Barrick Gold Corporation
Pinot
:0)
Oh dear...there goes my great white hope...
However, "we know Solgold well..." menas they've run the rule over it...that augurs well for interest from other Miners...
Remember yesterday one of you was talking about Barrick? I thought I would take my chances and email Mark Bristow directly (mark.bristow@barrick.com) to ask him whether Barrick would know SOLG and have an interest in them.
Unexpectedly, he just replied, his answer below and not what we would hope:
Dear XXX,
We know SOLGOLD well – unfortunately, we do not see it as passing our strategic and financial filters.
Regards
Mark
Make of it what you want, I just find it hilarious that he would actually respond!
Does any of you want to try other relevant CEOs?
Morning all
Many moons ago Maxit was also the strategic advisor to Orbis (DGR) After the aggressive takever bid from Semafo.
Pinot
:0)
SOLG has it all. The idea that SOLG asset are unwanted or a burden is ridiculous. There is no distress or concern when selling these assets. But there are red tape hurdles to be cleared before any miner would want to take the risk. These are being ticked off gradually. These are the highlights as a reminder:
1. Best metal mix / basket you can hope for with copper, gold, silver and number of other crucial metals all in great grades. This gives any major miner options due to exposure to all kinds of metal pricing and market shortages.
2. The infrastructure is already there. Pipeline route simple using old train line route.
3. Location... it's great for exports to China. Cheaper to get it there.
4. SOLG has largest acreage / licence block holdings in Ecuador.. second to FMG I believe. Almost impossible right now to get hold of new licence blocks in Ecuador so SOLG is the ONLY player out there that is affordable to super majors. They can buy FMG ... but that's super major on super major stuff. That's not a 'new country' entry ... it's broad based acquisition. Whereas any purchase of SOLG is specifically a 'new country entry' and Majors like that.
5. There could many Alpala's out there across SOLG's folio. Ironically, a super major may prefer to go-slow on Alpala development eg early phase high grade low risk ops while they drill baby drill across the rest of the folio hoping to discover another Alpala but one that is easier to mine... lesser of the more risky block cave element.
6. All assets and licence blocks are 100% owned. Almost unheard of these days. That's perfect for super majors. They don't like fragmented licence blocks with partner that are not of their choice of hangers on'ers vis free rides to production.
The list goes on... SOLG is in great shape. Assets are great. There are plenty of majors interested. No doubt about that. Why wouldn't they be interested??
Well for balance .. here are some sticking points:
1. Ecuador politics and country as a whole is less proven than other mining nations like Chile, Peru etc. So it's early stage stuff and tax laws along with other key business terms need to be finalised. Remember, the likes of Brazil and Peru, Chile etc have increased tax charges on some mines/exports
2. Block cave element of Alpala is risky and can be capex intensive. BHP has similar issue with OZ Minerals but seems to have devised a solution which SOLG are now mirroring into Alpala... no coincidence there... the industry often learns from one another. But the fact is... BHP already has the solution for Alpala. Mmm.
3. Rest of folio / licence blocks may never get drilled due to permit and eco issues. That's a risk. But some blocks are already cleared and not in disputed areas.
4. Inflation/costs. The asset requires significant capex and time to deliver production.
It will get sold when Maxit are ready.
They could make it easier if it was Mitsui and one other...publicly declared interest...
No love lost between Newmont and BHP...but they and Barrick are easily big enough to buy this and fund the new phased mine out of petty cash...
US investors are torn on long bonds...some see c5% yields as unrepeatable...more sanguine commentators look at the funding stream to come and the prospect of QT next year.
The dollar has been a busted flush for years...China has steadily reduced its exposure to US Treasuries...me and Mrs have £250k exposure to gold mining...not including SOLG...
BenAlder...I think SOLG is more attractive as a takeover now...
Revised Initial Capex is $1.2/1.3bn...chump change for a major(s)
Agreed addicknt.
'western countries antagonizing China' hmm... It isn't the West provoking both regional and global tension by threatening Taiwan and the Philippines. Nor can I think of a western nation engaging in ethnic cleansing of its own people. Please don't think of China as a victim - it isn't. It's an aggressor.
As to your main point, you may well be right.