George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Unsure addicknt.
I guess delisting on TSX means that we no longer have a problem.
Unsure of reasons we dual listed on TSX in the beginning.
Good question Padmaster.
Q, thanks. I guess you agree it would be easy for us to circumvent the law?
That's originally what I thought addicknt.
However two of the three companies that forced Chinese investors to sell were Ultra Lithium and Lithium Chile, which both have mines outside North America.
“Already 3 Chinese companies have had to sell their holdings in TSX listed companies since November 22.”
Why then did Jiangxi acquire 6% of Solg in November 2022?
Q, as I said previously, it's incredibly easy for us to get round it. In any event, I thought the regulation was enacted to prevent firms selling Canadian assets, not those overseas - although I may be wrong about that.
Morning addicknt.
It's a criminal offence to sell a mineral company listed on TSX to the Chinese.
It comes under national security.
Already 3 Chinese companies have had to sell their holdings in TSX listed companies since November 22.
Their is an article in the financial times two days ago, but it's behind a paywall.
But Reuters and other financial periodicals have printed articles on the situation.
Just difficult to copy and paste on here.
Warren Irwin responded to this point on Twitter and said: "We should have no issues with selling SolGold."
Q, what's a criminal offence?
This is a UK company and even if the Canadian regulations presented an obstacle, which, in my opinion they don't, there are plenty of ways around it...all legal. One example; an asset sale and cash distribution leaving behind a shell company which would be liquidated and de-listed. Absolutely bu**er all the Canadians could do about it. We are also perfectly entitled to de-list in Canada as and when we want - in fact, I'm not sure why we bother to have the listing, it's just an unnecessary expense.
Absolutely Quady. If Solg delist then..... bingo.......sold to the man with the dragon!
No western company is going to invest in a tin pot country undergoing more political turmoil for the foreseeable future, in the middle of a global downturn.
What's the conversion rate for 40p?
Z
Thank you highflyingman, I was aware of the Chinese situation, but the rest of it was a good listen. Including the story about the ambulance at the end.
People here are missing the salient point.
Solgold cannot be sold to the Chinese while listed on TSX.
It's not they would be delisted.
It's a criminal offence and would be prosecuted.
So if we see Solgold delisting on TSX, then for me that would be evidence that we are going to be sold.
Haha, especially pub opening time ;-)
Good luck Addy!
Ah, rain, the curse of gardening. Mind you, I find it a convenient excuse if I can't be ar*ed.
I was, I'm having a cuppa during this biblical downpour :-(
Thought you were looking after your veg, copper?
The last person on the planet I would listen to is Arren Wirwins!
He's full of shyte!
Nice try but must try harder if your going to get your 30 pieces of silver from whichever major is paying you to de-ramp Solg
Total red herring.
So Irwin is right a takeover wouldnt be affected
Agree DinnerMoney. Solg is a UK incorporated company so Canadian corporate law or government policy doesn't apply to it. Canada would have no jurisdiction to block the sale of Solg to any other entity.
At most, Solg is subject to the rules of the TSX as a listed issuer. What's the worst that could happen, they breach the rules and get delisted. Which be a moot point if Solg gets taken over because presumably the shares would be delisted from both LSE and TSX anyway on completion of the takeover.
New financial details released in london the other day would also be of advantage maybe to solg staying listed in UK you think?
It’s now odds on the Strategic Review outlines a delisting as part of future strategy… bottom drawer now until circa 2024.
For me, a delisting will be required. See WIs response here.
https://twitter.com/cjkyte/status/1653868999782932481?t=2zgv7D2-Txr6XP0eCT4eFA&s=19
Have a good one all. C
The longer the interview goes, the more he shows his frustration with not being able to sell any Canadian discoveries to the Chinese.
Yes.. If the Chinese do want to buy it… and a delisting etc would all add time to any deal being struck.