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Gwmo seem to be moving expecting to produce gold and silver before year end still only valued at 6m seems cheap
The definitive rules on UK takeovers are here
BUT be aware it runs to 425 pages, a briefer and more understandable version is here, courtesy of Slaughter and May
the relevant pages are 44 et seq
I have been reading up about Moly and the Halo effect, ever since Pinot, posted the Steve Garwin presentation, explaining some of the technical terms, and also pointing out, how to read the pretty pictures.
I have watched it a few times now, and also have googled more presentations by other geologists, as find this stuff fascinating.
What I believe I have learnt, is that if you have sufficient Moly in your core samples, is that you keep on drilling, as this is a sign to find more copper.
Also understand a bit more on how outcropping works, and where they decide to drill.
I think I get the excitement at Porvenir, as from just one drill rig, we are going to start expanding the area very quickly and try to map out the region and hit the core earlier, rather than later.
All the best.
Aw. Can’t tell my one and only accounting joke now without causing offence. Bum.
You just won't give up Quady, will you...
The WHIOLE of that article relates to PRIVATE limited companies, not PLCs...
Please stop misleading this Board, just because you made a mistake you are trying to justify...
You're an Actuary, man, not a qualified Chartered Accountant, Corporate Treasurer, Chartered Banker and Stockbroker and former PLC Group Finance Director.
Apologies fir the above but how do I get across to him that I DO know what I'm talking about...
Quady, waiting for PFS and plenty more
They’re gone very quiet in La Hueca ..... 6 weeks in now ??
Just a reminder of what we knew previously
“Teams conducted extensive stream sediment and panned concentrate sampling throughout the La Hueca project. The geochemical results of this work delineated 5 porphyry copper targets situated along the contact between the Zamora batholith and volcanic units. The results delineate a copper rich porphyry corridor running through the La Hueca project.
Target 6 has returned strong copper, gold and molybdenum anomalism over a large area 1.25km by 1.0 km. The discovery is significant due to k-feldspar, secondary biotite, and chlorite-sericite hydrothermal alteration intensity, and the presence of chalcopyrite, molybdenite and bornite. B-type quartz veins are also present at variable density. Geochemical high Cu-Mo results are significant (Table 2), and they are dispersed over an extensive area.“
All good - moving forwards we're all on the same team, as you say (apart from the odd deramper!), with so much to look forward to.
This article is one on FAQ's on can the Bod, overrule shareholders. It is UK related. It supports the American article, I posted earlier, the answer is yes, I suggest reading point ten.
Also when you look at a stock like OMI which I had dabbled in and out of a few times over the last 3 years, Sept 29th price 5.5p today 40p... crazy ans we wallow about here. Ah well guess a little more patience is what is required here.
Morning Shipright, agreed.
However the share price is holding up, as I expect everyone is waiting for the PFS.
MMmm sex without the orgasm is the feeling I've got ; (
Feel like they're in a bit of a vacuum today?
Quady I knew exactly what I was talking about and, as before, posted a factual statement for the benefit of those who might have read the irrelevant article as Gospel. I note that you have once again prevaricated below, so here is what you said:
"It says that even if a formal offer is made, and over 50% of shareholders tender their shares, that the BOD can block the bid."
"As I say Talatum, I am unsure, it's just the cases I posted below, are used in takeovers, as precedents..."
"Morning addicknt, as the article says, nearly three quarters of shareholders accepted the bid, but was blocked by the Bod, as the bank they had hired to defend against bids, rejected it as not good value for shareholder's. So even though over 50%, tendered their shares, the bid was blocked. I believe Citi, can demonstrate we are undervalued, and block bids."
At least I admit when I'm wrong...
Fair comment Miagi. I will desist. I shouldn't have responded to "CT1, CT2, CT3...."
Red if you enjoy Viz (I agree it is not what it was- or is that because I am getting older?) you may enjoy Bob Mortimer's Athletico Mince podcast, it is loosely based around football but with hammed up actual and fictitious characters. Some of it is absolutely hilarious.
Assuming we are all going to make a serious wad here, I would genuinely welcome any researched ideas for reinvestment.
I came to ATYM from a tip by a close friend and that was incredibly profitable. SOLG I discovered simply through a reference from a quality poster on ADVFN. In all cases I do a great deal of research and read hundreds of opinions before making a move.
As you may know, my overriding strategy is gold/silver/copper. I currently have a big commitment to GPM through GPSS, where I will have to stump up a substantial amount for the call at the end of November. 2/3 is set aside. The rest will come from SOLG.
Previous tips and research put me into ARCM and JAY which have been very successful. I have dabbled with ARS and sadly missed out on GGP. Ho hum.
My current fave is VAST and I've more than doubled my holding this morning at sub 0.17.
So genuinely, please post any serious suggestions. I'm not interested in 'punts', multibaggers, etc.
Thanks in advance and sorry if you thought this post was a nuisance...back to the day job of SOLG...
Redknight, my opinions are always open to challenge, as should everyone's be. The truth is what we are after ultimately, or we should be.
Incidentally, your comment about Quady being arrogant what truly a case of the pot calling the kettle black. We've been treated to your full qualifications and numerous posts in the last few months as to how well you've done this year.
Good morning rcgl2, you are correct and I knew this, I am just not answering him, as all he does, is search for something on google and post it to support his argument.
The point is DartFrog summed this up better than me.
The BOD can reject any offer, as long as they can back up, that it's in the best interest of shareholders. ( hence appointment of Citi )
That is the same in UK law.
I posted this article, because it demonstrated, the role, that Citi could play in the defense of any bid, be it friendly or hostile.
Any bidder can go hostile, but don't expect the blessing of the BOD, if they feel it's undervalued. It can be rejected.
The article said no more and no less than that, and in the UK, the situation is the same.
If we receive any bid, I would expect Citi, to act in a way, as expressed in the article, and show the main shareholders, if the bid is worth entertaining.
Miagi, re yours at 9.39, I can only assume it was for defensive reasons. He probably thought it was a long shot - the attempt 14 months ago gave a clear indication, but decided it was worth a punt. A lot rides on the CGP stake and I suppose if you follow the production mantra, it may be justified. Personally, as I regard it as having been a distraction, as well as not being in our interests.
Aw Miagi...and I thought you were so nice...
I look forward to seeing your challenges on the basis you have set out...
Meanwhile you may have noticed that I never comment on the specifics of drilling news...I accept it and absorb the input of some seriously clever people here and on ADVFN who clearly know what they are talking about...
I hope and believe that I know what I don't know...
But any long solid holder here has to be frankly gobsmacked by the potential we are seeing unfold here...my previous rule was to sell half a holding when it doubled, but I only sold a quarter at 42.7 and have since bought back a big chunk of those, simply on the strength of what is unfolding...
All the best...rouge....
Cheers Sporty...I have a VIZ subscription...it isn't what it was...the letters page is too long and I miss many of the old favourites, especially Roger...
So I was so glad when he reappeared on here and he seems to be a decent chap who stays up late at night...
Dear Roger...celebrity...please lobby VIZ to reinstate you soonest...!
Quady - as Redknight has said, the article you posted refers to the situation under US law and is not applicable in the case of Solgold. The UK takeover code is very clear that shareholders should have the ultimate choice of whether to accept or reject a bid, irrespective of the board's opinion. The board makes a recommendation to shareholders as to whether they should accept or reject, but each shareholder can decide whether to tender their shares. If a sufficient majority is achieved as per the terms of the offer, it will succeed.
The article is talking about a situation that occurred under Delaware law as confirmed by a court ruling in Delaware. The reason many large US companies are registered/constituted under Delaware law is that it is very favourable to corporations for various reasons... as exemplified by that ruling.
Redknight, it's worth bearing in mind that you are not the only poster here who has a large holding in SOLG and as such it does not add any additional weight to your opinion than them, if indeed holding size merits additional weight. As for your credentials and gains, it is indeed immodest to parade them - there are several others on here with qualifications and gains to match.
Opinions should stand up to the test of truth whether stated by a king or a beggar. Facts are facts and therefore cannot be argued with. If they can, then they are not facts.
Cheers Red Knight - hope your golf was enjoyable! - Hope Jimmy Tarbrush & Bruce Fivesyth didnt spoil it for you
Nice weekend all true Solgolders - and for everyone else Sharon and Tracey are waiting for you with Sid the Sexist and Biffa Bacon ... and Roger no one is interested in Celebrity Bum Holes - its just not going to wash with the general public :-)
Hi Miagi, I agree, it's a win win for Solgold.
If CGP, don't get their knockout bid, not sure they have any good options.