SolGold Share Chat (SOLG)

I would add, I would prefer to hold to production, not of Alpala but Porvenir at least. I might be dead by then, being almost 73 now, but I see it as being the only way to achieve "full value". At least my family would be able to reap the rewards, and might, perhaps, give me a big ornate headstone - ugh! However, if we get taken out earlier, sobeit, and I will have to find somewhere else to invest my pennies!

Frog

I wish you all the best, just don’t mention me in your posts or comment on my posts with insults and there will be no more squabbling

Re Quday, I’ve given a solution, stop mentioning me in his posts then we don’t need to communicate with each other

Watch this space from now and see whether he can do that or not

Doesn’t have to be a low ball offer.

I think there are many share holders who accept 50p, however I think a bid would be higher then that, as it would only start a bidding war and risk or losing it to someone else.
All things considered, especially jurisdiction, I think at this point following PFS, an offer around 80-100p would be acceptable.
We will obviously have to wait and see, my point was that our diverse book is not a reason why bods won’t happen as two of those mainstream holders could be the ones doing the Bidding and already own over 25%, 45% if you include CGP, so yes it doesn’t take many pi’s to take it over the line.
I’m not saying the small number of posters on here could be taken as a general feeling but the survey on here was about 10 to 1 against going to production.

Earthling - I hear what you say, if BHP, NCM and CGP get together somehow, e.g. allowing one to buy the others' holdings of Solgold, then, with the help of pi's, they might scrape over the line. However, I don't think most pi's would accept a low ball offer of around 50p even if they do want a take over; £1+ and it might be a different story. In most take-overs I have experience of, most pi's sit on the fence and do nothing and accept whatever is the outcome. It may be different with small exploration companies, I don't really know as I am fairly new to this game. I have been buy and selling shares since 1974, but have tended to go for larger companies.

Basically both you and Quady are correct, but you should both accept the other's view, please!

Frog

flippin eck is this argument still going on???

of course there's little surprise to see a certain posters involved..........

argh well - what'll be will be, latest presentation seemed pretty darned clear to me from NM's comments - he intends to take this all the way to production - fk cornerstone and those pr-ix WI, BS & C.............

have a pleasant sunday folks

atvb
BN.c

Pure speculation, £5B NAV @ 25% on PFS £1.25B, 60p or thereabouts share price, £1.20 bid SolGold no more come March 2021 after elections!

Thank you pinot for this link

He seems a decent sort Barricks South African Ceo ..........

Intends to get Barrick back into Sout America - wonder if he & Nick would be better suited to a deal than with others?

anyone know of a tier1 assets in South America up for grabs??? [lols]

R's
BN.c

The only person, who persists with insults is you earthling, to answer your question, which has been answered so many times, is yes NM is correct as this is dangerously low, meaning that could invite bids.
However it would be defended.
You have never given a calculation on how this could be taken over, the only credible takeover scenario I have seen on this board, is from addicknt, but you disagree with that as well, as you recently posted, that you would take 60 pence.

Hi Miagi,

I agree with you there, as usual Quady doesn't listen because he has switched off his ability to do so. Instead he just uses insults.

My point was if BHP and NCM make a bid, it could also include a bid for CGP's share at the same time, which CGP will no doubt accept, hence why I suggested BHP. NCM and CGP may all be on the same side with regard to getting rid of the current ownership.
I do understand they could leave CGP out and let that play its course until they still need to pay their share, however I think the majors will just be done with it and buy CGP or their share of Cascabel and be done with them to get 100% (which eve majors where to make bids)

The figures with regard to take over options have been given many times, Quady has just refused to accept them, gets frustrated and starts name calling or being rude or insulting.

With regard to diverse book, my point was as NCM and BHP already own about 25% between them, if CGP where to vote in their favour, then it doesn't take a genius to work out that with enough pi's also onside then a take over could get over the line.

Again, not sure which bit of this he fails to see, but I'm done with that guy.

I agree that a full conditional finance package could hinder this for BHP and NCM, but his other point of more dilution and getting another major on board would increase the chances of majors owning this in the end, in my view.

NM has said many times we are dangerously low for a take over, in this instance Quady didn't answer the question re does he think he's lying or not, which he asks the rest of us frequently when we don't think we will be able to go to production.

Even his new buddy on here told him he didn't believe NM, but he let that go.

For me I've never inferred Nm is not telling the truth re going to production, my point was just becasue he wants to does not mean to will happen.

Quady, to get stop our squabbling on here, its simple, from now don't mention me in your posts , then there will be no need for me to respond to your insults.

Good afternoon Colonel, may I suggest two ways to defend this. A complete financing package to bring this to production, would see more debt and offtake agreements, and make this less attractive to a major.
Also as a last resort, we could bring in more majors, by issuing more shares, and giving them standstill agreements for 2 years, and thus diluting other majors stakes, and making it impossible to obtain the new shares for 2 years.
That's on top of the diverse register, and speeding up more discoveries. With the money from the new issue.
This can be defended, in my view.

Just a couple of pointers to throw in there for a Sunday morning...

1. Delays to PFS are very likely. Why? Because management have numerous excuses lined up. From Covid, to external auditors/report certification etc etc. End of Sept 2020 was a guideline not a deadline. That all said, there is clearly an incentive for SOLG to get this PFS out before October 14th (CGP offer ceases and pre BHP lock in release).

or

2. An alternative view would be 'delay' it. Why? Because it's more than likely that BHP needs to see that PFS before making a bid. Buy some time and kick it out to end of Q4 and it provides time to get exploration results in. Further to this, I would presume CGP's plans to launch a EGM end of October will also get kicked out to end of Q4. The game of cat and mouse continues but the one frustrated party in this will be ecuadorian mining govenor. He is not going to be a happy man if he sees timing slip and keeping the gov on board is imperative to NM's plans for future licence / permit approvals.

So yes... it's going into the sharp end and one thing we do know is that there will be an RNS this week for sure as we are guaranteed an updated MRE3 filed Sept 30th at latest covering off TSX's request to remove previous references to MRE2.

Personally, for what it is worth... I think NM thought the Franco deal would wake the market up to the real valuation benchmarks for alpala and help him get away a $40m placing at 35p+ levels. Instead, the market was wise and knew NM needed finance for exploration plans so called his bluff. On top of that, you had the risk of Franco deal not completing as due diligence had not been completed due to Covid issues.

So here we are now, capped at sub 28p and supported above 23p/24p levels so on a 3 month or VWAP basis we are around 25p/26p.

At these low levels, we are a sitting duck. That said, at 50p+ we are a sitting dick. It's not like 50p+ is going to put off BHP or NCM or Barrick etc especially when BHP and NCM both bought in substantial positions in SOLG at 45p.

At the end of the day, NM has defended shareholders interests as best he can. The Franco deal saved us all at least 20% dilution imho. But NM is not superman. He can only do what he can do. Fighting off Super majors with cash of $5bln+ to throw around with ease (per quarter!!) it's like Floyd Mayweather Jnr boxing Alan Partridge.

If BHP wants SOLG there is nothing mather can do in all reality. Any hope fo premium bid prices rests with exploration plans as well as other interested parties like Barrick or Rio. And that's where Citi need to earn their crust.

Good morning Miagi, I watched Earthling's post last night, and asked him for the 3 calculations. As I also did the maths.
It's complete nonsense.

Referring to the interview that Earthling posted last night (https://youtu.be/_tDA5Do9lKE).

He talks about the SOLG offer in terms of other takeovers ($1.7/lb versus $7/lb), but he is either trying to deliberately mislead with this or he is genuinely ignorant. This is not a typical takeover, because the predator (SOLG) is a takeover target itself. He's living in cuckoo land if he thinks CGP are going to get paid $7/lb by SOLG and then enjoy a second $7/lb on their new SOLG shares a couple of months later! If it were BHP doing the buying then sure, the $7 applies, but they are not. So, why even mention it, as the argument does not hold water. Mentioning the price at which Maxit swapped is just desperate, as is mentioning the price BHP bought into SOLG. The only valuation statement of substance is when he says the current offer would see them holding 15% of Alpala versus he current 21% - against that reduction you have to weigh the reduction in financing risk, $55m odd debt wiped and an 8% increase in their ownership of the regionals - reasonably fair all in all.

I agree to an extent , but if I’d bought into a share where the CEO has been saying for years that their intention is to take it to production, I could hardly have any complaints if it happened.
For the record I do not believe we will make it to production, certainly not in our own .
Whatever the case I expect things to become a lot clearer over the next few weeks

We've got funding to BFS now via a major endorsement by a top royalty company. We have no worries about money for at least a year. Some said that the market had already assumed the FN deal was done and dusted, which is why it did not move the dial. Well, that's just the market being dumb. Until it was signed off, there remained material uncertainty and I would imagine that any sensible CEO would have been preserving cash up until that point (particularly re discretionary expenditure like the regionals for example). If BHP/Barrick come in with a bid in the next couple of months - great. If not, I am more than happy to wait and see how this plays out over the next year. There is so much to look forward to: regular regional drill results (we are an explorer once again), total conditional financing package (huge, and something the majors must fear), DFS (with hydroelectric power calcs considerably reducing opex), and the screws being turned on CGP with every month that passes - they are going to get more and more hysterical by the month.

I'm with you Schlemiel, although I could wait another 5 years, I'd rather not.

I just can't think of any reason why majors would not want this and Barrick's CEO summed it up when he talked of the majors needing to have the tier 1's re M and A activity, hinting that this will continue to happen, and needs to for the industry.

Whether one agrees with him or not, it's hard to see how SOLG could stop it happening.

I'm aware of our friends argument on here re diverse book will make it difficult, most of us know this is just nonsense with regard to it being a good enough defence against reasonable offers.

We will all find out soon enough.

bring it on I say.

'I can't wait 5 interminable feckin'n years talking shiiite on this bulletin board. That will push me over the edge ffs'

that's me 'talking shiite' not others

This 'will they, won't they' boll-x regarding a BHP offer started because of the clauses inserted into the Standstill Agreement ffs. It's not a rumour dreamt up by a bulletin board poster or some form of desperate act of ramping. The reference to a BHP offer of one form or another are explicitly stated in a document called the Standstill Agreement agreed to by SOLG and BHP. It can't be any clearer than that.

BHP need to buy SOLG and be done with it. Another 5 years of 'will they, won't they' would be intolerable

Now some might say I bought a position only a few weeks ago and yes that is true but I have contract notes going back years showing SOLG trades and I have lost more on this stock than I have made. Net, I am down around £5k. I want to a see a capital return this time.

I have piled in, 100% (risky, yes) at this point in time because I believe fundamental changes to SOLG's material value may occur. I need this to happen for my own personal circumstances as do most on here. I can't wait 5 interminable feckin' talking shiiite on this bulletin board. That will push me over the edge ffs

DBW - there's a clickable banner at the top of this page. I've not tried it yet.

Can you send the link Miagi
Cheers DBW

Says Q&A at the top of the page here.

I thought he was just doing a pre-recorded segment?

BHP do not need to wait till 15th Oct to put in an offer. They can do that at any time provided the board supports it. So they may have already been talking to NM but haven’t offered enough to get board support.

I also think we will see the PFS by Tuesday because that's when the Investor's Webinar is happening - could be a challenging Q&A session if not...