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To achieve a price in excess of 100p, its important to express aspirations that illustrate value to a bidder.
Accepting 23p is the starting point.
Love it! You really are worse than a wet weekend in Wales. Still, you make me laugh.
What a very much better day, especially being focused on Solgold rather than irrelevances...
Oh and BBG I'm glad to say I've unfiltered you as you are adding plenty of constructive comment to the debate
Not so long ago we were 40p. Now our ceo is happy to accept 23p? I am even more dismayed that some PIs are willing to accept 35p!!
He mentioned the market value of the copper/gold we have, and even at 3% its not 23p. Every time he opens his mouth he never fails to disappoint. Here we are again having to guess what he meant 😔
NMM - they started 17th March 2023 and vest in 2026
His average on daily closing price presently stands at 12.57p
I should add I hope I don't come to regret this comment!
Is said about this share, there's no doubt the last few weeks have seen a level of interest and, dare I say it, excitement, that we haven't seen for a very long time.
It's good to feel as if we're on the front foot again.
Knowing that he would accept 23p, it sends a message to those wanting to challenge BHP for the reigns.
BHP would be reluctant to move before ESIA is concluded and so it would give smaller groups some hope of having a really good crack at owning Cascabel.
It may be that the bid starts now and during the ESIA is concluded, BHP then show their hand.
Lets hope we've put a new 'floor' in at 9.20...if it holds this afternoon...and move on from there...
I am sure SC knows 23p is just a starter.
1984 - this is Solgold, you expect that level of clarity? ;)
Page 77 of 2023 Annual Report gives details of the performance conditions.
Make it a more realistic 65p sale price Scott and I'll happily let you keep your £10m profit from share options!
Thanks NMM, I can’t find the details anywhere. Just a straight daily average or a volume weighted average?
Surely if a bid comes it’s in his interests to play it out and take an age to complete, unless as you say a bid means that becomes the three year average
Three year daily average from 17 March 2023. Prob averaging 10p currently.
BUT, on a change of control event, I (cynically) expect the 3yr average will fall away, and be awarded based on the agreed sale SP.
(30m options at exercise price of 17p. He'll profit £5.4m at a 35p sale price).
Next barrier to cross, imo, give it a day or two
He probably knows he's getting another 30m share options at 9p lol!
If they dare issue any more share options to directors then I think an EGM is required and we can vote it down.
How is the three year average calculated?
A reminder of Scott's options; he is looking for MINIMUM 35p:
0 if 3 year SP is less than 25p
50percent if 3 year SP is greater than 25p
100percent if 3 year SP is greater than 35p
Get some rumours and Ramps out on twatter anyway that’s what the bingo shares do
They have close to $5m cash balance left and $6m in licence commitments just for the regionals... so yes... a non dilutive cash raise is require imminently.
By non dilutive, they either mean proceeds from Porvenir sale or deal or proceeds from the 157m CGP shares.
The irony is... these shares are actually dilutive as they would be accretive if they were cancelled which is what should happen prior to a full sale. Would add 5% to shareholders.
It's a myth to suggest these shares are non dilutive just because they are already in existence.
The CGP shares are owned by all shareholders so if they get gifted to someone else... they really ought to be offered to all shareholders first. That's fair.
I’m reading the 23p mention is for pi’s confidence that you can buy all the way up to at least this price.
Someone bought 20k worth at 14:51 Ooooo yeh! Keep em coming
And another timely reminder by Solgold PR team.
"We are for sale"
https://x.com/SolGold_plc/status/1773003252637835679?s=20
Video recorded on 16th March.
Hannam's price target circulated on 20 March is double Scott's 23p.
So if this was recorded 10 days ago, does it mean 23p is inbound and or already received (why push it out today), and Hannam are expecting it to be countered by a competing bid. A bit smelly
He has also confirmed that "over the next few weeks or months we will have announced some non-dilutive proposals that will help us continue de-risking Cascabel and expand regional project exploration"
So, does that mean interested parties should bid for the co or project before more capital is raised?