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SM - that would be desperate with a capital D.
Smick, I was simply using 50p as an example.
It's the first rule of corporate finance if you're selling a business - if at all possible never volunteer your price expectation at the outset.
Eish, let's hope so and he laid out a pretty convincing case of why there should be.
Add, I cannot believe that Scott actually mentioned THE ROCKS😆
I got the impression that since he is working to make the company bid ready that he hasn't received a bid! He could have responded differently. I will listen again to make sure I didn't misunderstood what he said.
"I'm in a closed period...but when that period ends I will be back in, buying in the market..."
Add, the only thing I can think that he might be doing is goading a lowball. This was a SOLG sponsored interview so they will have had full editorial control on what was published.
Smickster - have done here many many times over the last couple of years. Shan't waste my time again.
All my concerns about lowball offers etc aren't looking so outlandish now I'm afraid to say.
I don't expect any apologies.
"We're not looking to raise $1.5 billion right now..."
Add, there will be MULTIPLE counter offers!
"We're gonna derisk it and we have a financing plan and eventually a 'strategic' is gonna get involved in a big way..."
That sounds like a JV with Jiangxi, BHP or Newmont or an outright sale...
First not format
Just listened and almost sure he said 30p - with a cunning smile, LOL!
Add be honest, do you really think our format bid was coming in at 50p while we are sitting at 8-9p.
It feels like this hours been a strategic plan right from the outset and they have basically telegraphed an acceptable opening bid.
Yep, really disappointing to hear that he’d take 23p after all the fuss we’re going through.
I think he was ill-advised to answer the question about an acceptable offer level. In fact, I can't see there's any upside to his answer.
If you were a buyer and you knew the CEO of the target company was prepared to accept something at that level, what would you do? You most certainly would start a negotiation at 50p, would you?
This was a mis-step in an otherwise really interesting interview.
Would you like to elaborate Bozi?
The logic that 23p wouldn't succeed is so so very flimsy.
"We're working on some non dilutive financing...that means its not an equity offering...over the next few weeks or months...we've got some non core projects where we cab perhaps generate some value..."
Just a nice hostile to will do
Yep, plenty of new retail investors in at 6p areas that would bite the hand off a deal at 23p.
Effectively, Bob and co have thrown the rest of us to the wolves by looks of things... but I'm not overly concerned as there's no way a 23p bid will succeed .... but if it gets bid war going... jolly good.
Nope not seen him since he vanished at the end of the last quarterly gold index sell off in Feb
Funnily enough his previous moniker retired at the same point a quarter earlier
One of the other interesting things was watching the number of thumbs-up indications rise. I've never seen so many for a Solg presentation. It must be all the new retail investors.
'84, yes, something is in the offing and given he talked so openly about short term funding, does that mean it's something else?
Under the UK Takeover code if a stock has an untoward move above 10% (sometimes 5%) and there is a merger deal being discussed, then Rule 2.2 gets triggered and parties might have to file an RNS confirming talks (2.4) post consulting the Panel. Let’s hope we get news soon.
Don’t know if this is already pointed out
1984 ….. anyone seen Stackhigh since he wrote this at 6.7p??
“Plenty further to fall before the car crash fundraise. Really feel for those who have been hoodwinked in by the brainless rampers here”
Yep he’d look pretty bad if dilution happened now …..
That’s right he can’t deal either way but one is just a regulatory 30 calendar days before results are put to market and the other is explicitly that he has market sensitive information
Results aren’t due in the next thirty days is it’s the latter
That he tells us he’s going long when the period ends Means he must think that an RNS we are to receive is value accretive
Note that he’s ruled out a dilutive raise so he’s not expecting to dive in lower