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I have difficulty understanding why a company, BHP, Chinese related, etc., would want to spend enough money to develop Cascabel and enough to keep a lot of posters on here happy by starting a bidding war. Surely, they would want Solgold to obtain the finance and build the mine before making a move. To me a bid now is likely to be low and not likely to result in a bidding war. I would be happy to be proved wrong, so I will just have to wait patiently to see what happens. Of course, I might be dead before anything meaningful does happen to the share price!
Frog
Correct AgAr, I hope you're pleased with that conclusion
Highflyman. What time do you think the 0.6 of a penny bounce will come.
I think you was in such a rush to poo hoo my reply to rk. You had a rush of blood.
Bit of advice mate, engage the brain, next time.
Rk posts sh**te, don't make a fool of yourself trying to defend him
I answered my own question? So you are a spineless failure? Thought as much 👍🤣
Hi AgAr I think you pretty much answered your own pointless post there... well done
Another machine gunner who has nothing better to do, just put me in the filter bin buddy you are completely irrelevant to me 💋
On every front?! Which fronts are you talking about? I appreciate that you're posting here rather than talking to people, I suspect if you weren't old you'd get an asd diagnosis, but this is bordering on rude, Quady. Wind your neck in.
Of course I want people to invest, don't be silly. But I want them to spend hours, days, even weeks reading about the risks here, and understanding the long time line, before doing so. I wouldn't want anyone to dive in based on Fort's brainless, irrelevant rubbish. Would you? Callous if you do: the poor people investing based on the rampers here would believe they are going to get a payout in the next few months.
And the word of the day is:
LIAR
This going to go for closer to 3 than 1.5.
The commodities supercycle is teeing up.
These guys are not posting continuously for the fun of it.
World war is on the horizon, post 2025.
Electricity is the goal for the 2030 Build Back Better plan.
South America will be a low risk zone when the blockades, sanctions and missiles start flying.
It's a longer term bet, but a good one.
Nothing anyone says, including me, will change the dynamics here.
Trade your positions as you see fit, or sit tight and wait.
Boring, but true.
ArAgCu you are totally lying.
You say you are invested as you believe you will make a profit.
Then at 7.50 this morning you say that people won't be fooled by Fort to invest.
So you are suggesting people don't invest.
Even if you were an investment consultant, which you are not. You cannot do that.
You can only lay out the pros and cons.
Therefore you are a liar on every front.
Novice do you have any shame in real life or is it the same as on here? Just a reminder that you staked your reputation on a totally baseless ramp, got called out, and agreed that when you were shown to be wrong, 4 days later, you'd leave forever. How is that going?
Prediction: embarrassed chump claims to 'see green lines' because he can't explain his lack of spine.
I see needy is still taking the juicy bait having to justify their existence every morning with a machine gun approach in shooting everyone down... what a strange existence posting the same thing every hour of every day. We all get that you are angry at people who are overly positive on Solg and that you are disappointed in Solg is probably an understatement.
But come on buddy lighten up, there are far worse things to come to you in your life than a few doddery old farts trying to remain positive about some money they invested in a metals explorer some years ago. You'll look back on this period in a few years and realise what an absolute waste of your life it will have been.
anyway better get back behind the curtain as you say needy
Are Reuters lying? Walk me through this madness!
ArAgCu I have no idea why you are here, but guessing you will be leaving soon, no apology warrented, I spent a bit of time reading your posting history.
It's all lies.
QUITO, July 20 (Reuters) - Ecuador's government concluded negotiations with Australian miner SolGold (SOLG.L) to develop a major mine seen requiring a $4.9 billion investment
Where did I say they had to put up the money at the start, Quady? It was fort who tried to say £4bn was a total for buying solg and CapEx.
You can start by apologizing for that slur on me, quads, then we can go back to reasoned discussions. Hair trigger springs to mind!
Highflyman. That will be one hell of a bounce to 17p. Bearing in mind it closed at 16.4p last night.
Probably the dopiest post this week. And that wasn't easy
AgArCu why do you constantly lie on this forum.
You have no idea how to value a company or you do and are constantly lying.
If you wish to use the valuation against NPV do so
But do it in a staged approach and thus cost/profit over the first 25 year term.
No one has to put up 3.8 billion on day one.
I repeat why are you lying about this share.
I am guessing you are in at a higher price or not invested at all.
But nothing you say makes sense.
Why not leave people to make their own investment decisions and you make yours.
But stop with the lies.
Bozi
Red ramper isn’t the sharpest cookie, his pips have been squeezed a lot since he was ramping in the 30s so a final sale price, IF it ever happens which is unlikely given current situation, of mid 20s won’t help the red ramper.
You are absolutely right about low initial Offer’s that’s exactly how eBay works and they seem to know a bit more about auctions than the red ramper…….
Oh fort... As night follows day! Same old irrelevant claptrap.
£4bn all in? Really hope not, as Reuters reporting £3.8bn investment needed... £200m for us is about 6p a share!
This rampy nonsense is, at least, transparent enough that it won't cause anyone to invest their cash. Long road to go, don't let the snake oil sales team have you believe there are quick fixes or shortcuts.
SOLG are rare and unique in that they have 100% ownership (uncomplicated) of a Tier 1 copper/gold/silver asset. These are rare indeed and super majors often have to buy up much bigger mid tier companies to even get close to Tier 1 style resources. Add to this that SOLG's footprint in Ecuador is one of the largest a this comes at a time when new mining licences in Ecuador look highly unlikely. Anglo, Rio, FMG, Newmont, BHP, Codelco and others are all present in Ecuador and it's only Codelco that seem to have a sizeable asset in development. All these majors have been trying to find what SOLG discovered long ago. It's becoming harder for them to explore. Add to this, you have the likes of smart investors like Gina R buying up important land in and around cascabel. Franco/Chinese chucking 100m+ into SOLG.
I think some of you need to wake up. Too much following the share price and not enough following of the asset.
The market is useless at valuing companies at the moment. It's embarrassing. Wood Group were £900m market cap or 90p or so before Apollo made a bid for them at 240p. The market got it wrong to the tune of £1.1bln. That deal fell through in the end but the point is... the sp level today has zero reflection on where it will end in a bid situation. Noront example simply shows another poor woeful market valuation prior to a bid.
Ultimately, SOLG's bid price will be £4bln+ because whoever is buying it is also committing to build the asset which we know is going to cost £2bln to £3bln. It's like a buying house with potential. There's lots of money in it if the renovation all goes well but not much in it if it doesn't go well. Sometimes Majors are happy to buy the house that's already done... and the combination of smaller mines or assets end up returning the same profit levels but with less risk. But with SOLG, the risk of Alpala is offset through an extensive footprint and exploration folio which presents any buyer of SOLG with many opportunities to strike gold or copper. There are not many opportunities like SOLG and it won't go cheap. So forget the current share price... it's irrelevant and reflects nothing more than a weak and pony market that forgot how to value companies a couple of years ago. Post covid brain fog is what the markets have unless of course it's a tech stock and then that's ok to price it in the multi billions even without a penny made.
Personally I can’t see this size asset selling for less than £1.5bn.
Yes I know some will see that as optimistic but that is what it’s worth. Doesn’t mean that a buyer will be found in the world situation of today but history suggests under that they get a bargain.
Bozi, in my opinion this will be an agreed deal following private i.e off-market negotiations with all interested parties. Low bidders will be immediately discounted. I do not see this turning out to be a contested bid undertaken in the public eye. In other words your observation about lower bids sparking off greater interest is not the case.
If we end up announcing a deal I do not anticipate there being any counter bidders, for the simple reason they will have had their chance during the negotiation phase, and I do not believe there will be any left of field buyers emerging once we've gone public. The list of potential buyers is relatively small and our advisors will have covered every base.
A great example of a bidding war given by Mather in the past was Voiseys Bay.
Not ramping just an historical example of what can happen. This was sighted by Mather in the past.
https://www.visualcapitalist.com/the-story-of-voiseys-bay-the-auction-part-2-of-3/
Red - yes, that's exactly how an auction works.
The lower the opening offer level the more chance you have of multiple suitors simply because the bidding is within their acceptable price range. Not all will have the means to stay the course, but it stimulates enough interest that the first offer is more likely to be countered.
I'm aware of how the Noront process played out. The point I'm trying to make is that Wyloo tried snagging the remaining shares at a modest 30% premium, a level that not many shareholders would have considered. BHP then upped the stakes significantly but you can infer they were simply trying to tempt Wyloo into paying more than they'd like, and they undoubtedly did. I have reservations about whether that deal would have gone through had the 75c BHP offer not been challenged.
I hope you're right. An open market price in the mid teens and no real purchasers of shares other than Jiangxi maintaining their stake is a little underwhelming. There's no reason anyone interested in an auction shouldn't be getting to 2.99% at the very least, particularly given the progress the company has made with the government agreement and licence renewal.
Morning HFM ….. interesting stuff thanks
I tend to agree with Mr Irwin
https://twitter.com/sghass3/status/1683578329163767808?s=46&t=XX3-iZapJ1HaXMFlnE7nKQ
Should see a bounce back towards 17p today after China announces support for its economy, and specifically the property sector...
https://www.cnbc.com/2023/07/25/asia-markets.html
Luisa González polling well resulting in Fitch lowering their political risk index.
https://www.fitchsolutions.com/country-risk/ecuador-gets-closer-august-election-correistas-are-leading-polls-11-07-2023
Useful poll tracker...
https://www.as-coa.org/articles/poll-tracker-ecuadors-2023-presidential-election