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FTF, not forgetting that NM has deliberately set up four distinct subsidiaries. It was well commented on at the time that the reason for this was to allow spin-off type felxibility. However, NM has been quite passionate, dare I say it, in this view that to spin off the regionals is to deprive the body of its arms and legs. So we'll see.
Hi Miagi. The Chinese. I do believe they are positioning themselves. I did post a while ago about a mining article and learning Mandarin to read it. A friend sent it to me as a bit of fun from some Chinese paper and I google translated it. Bit surprised to see them looking seriously down there. just wait and see. GLA
Afternoon Ice, as you say, look at the logic. No one is going to enter into a concert group for Solgold. If you want to act in concert with someone, then act in concert with Solgold. Everyone want's to extract as much value as they can. The big players can wait. The PI's ( well some of them, can't ). You make a good point about the future of Solgold as an independent producer, as we prove more tenements up, we become a major in our own right. All the best.
BHP CEO Review 22 Sept "We will create and secure more options in future-facing commodities through innovation, exploration, early stage entry and well-timed acquisitions of attractive resources and assets."
Chairman of Barrick (Annual Report): "Our journey ahead is rich in value-creating opportunities, particularly in Nevada and Latin America..... We are also looking closely at expanding our copper base, given that copper co-exists with and complements gold."
NCM CEO "Our Aspirations" in Annual Report: "Exposure to five tier one orebodies by end of CY20 (operations, development projects, or equity investments)"
Then there's Freeport McMoran, Lundin (already with Ecuador mining interests) and CCC Tongguan...
"The presence of CRCC-Tongguan in Ecuador is no coincidence. Throughout his 10-year mandate, leftist former-president Rafael Correa sought investment from China as he distanced the country politically from Western politics."
In conclusion, with its relatively unexplored position on the Andean Belt, Ecuador will undoubtedly be the next major mining boom country...and that means even other miners may be poring over SOLG as the excitement builds...especially at this price...
I am of the opinion that solg will go to production as is. I also view the chances of a takeover as low due to many of the reasons quady says. I believe that a JV is the most practical solution to everybody.
But and it's a bit but, not mine btw. With cascabel, now porvenir and possible Rio or Is hueca, SOLG has probably close to 50% of all the new copper and gold discovered in the last 5 years and the next few 20 years. That's a real curse when it comes to remaining independent. Any company that buys solg gets 50% of the world's future copper and gold new supply. They become by default the world's largest player. This is a different ball gamer to just alpala, BHP or newcrest could be happy with 20-30% of that as part of a consortium. Likewise BHP etc.But if somebody else comes along and takes solg that will still leave them as runners up. The regionals have tilted it. The chances of bhp, barrick, southern paying 3-4bn for solg and then another 3bn for cap ex is lowish. The chances of them paying 10bn for 50% of the world's new supply of copper and gold is higher..... All imo.
copper, I most certainly don't think it's out of the question, but I'm not sure it would work for either party. Specifically, BHP would ask, "why should we risk so much money just so that SOLG shareholders can benefit?". For me, that's the killer question.
Good afternoon Copperpot, I agree, there is no evidence that NCM and BHP, would join forces, and I don't believe anyone on this chatroom believes that. I do agree that BHP talking to Solgold. However I differ on the JV idea. I do think that BHP, would like to increase their holding, that would be interesting. Maybe they want a friendly bid. But again don't believe they will pay what Solgold want's ( I could be wrong ). All the best.
Here's my pennyworth. Our market Cap today is £750 million. Question: how much is a tier 1 copper site worth? Now add a probable second site of equal value. How much again? Frankly, I do not know - except a lot more than £750 million. CGP want to sell but don't want shares, they want cash. NCM have their hands full in OZ and one suspects they need cash for that. My view is that BHP will do private deals with both, then mop up some shares on the market until they have over 50%, then just sit back. As for we PI's, the market will decide but I put a figure of about 55p when all the dust settles. Time will tell
I don't think BHP and NCM would want to join forces. I think a more likely outcome would be for one of them to join forces with Solg! Just because BHP and NCM are on the share register it doesn't mean their strategies are compatible. My money is on a J/V with BHP. Who knows? It's pure speculation.
Earthling, please ramp SOLG on the ROCK BB, I'm invested in both. Just sharing a great ROCK RNS result and people calling me shamelss, so ridiculous... I've been put on to some great winners through other peoples tips, GGP and EUA to name a couple, so just giving back some love x