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bubble, what can they update? we have suspended all operations... we have not announced any plans to restart anything.
Orthencopper that's why we need to get this sold and get out of here imho these j/v and build a mine posts are deluded imhothey got no intentions at all of doing that ,no updates for months on anything
Not2/Add
Absolutely….. with the board now comprised of massively invested/ incentivised individuals there is no way they are going to watch their potential return decimated by entering a JV and destroying any potential T/O premium.
This will be taken out by a major I have no doubt in time and at a substantial premium to todays price.
In the meantime continuing to optimise the project will enable a new assessment of the true value of this project in an environment of much higher copper and gold prices. this is all achievable without locking into premature engineering studies based on an unoptimised model. That would be a waste of time & money as it’d all have to be redone.
There will be no indication of any offers on the horizon until it happens then hopefully all hell will break loose.
Much as I was a little taken back by Scott’s options on reflection I’m starting to see it as a good thing as he is massively incentivised and I’m sure there will be certain performance criteria that need meeting.
On a separate note I did question the company on the lack of updates on the website and asked the reason why ….. apparently whole website currently undergoing a revamp.
I imagine, they are rubbing their hands, kicking back in their chairs, smoking cigars…. As they laugh at Mather between themselves… and how they went from dismissed/belittled junior partner racking up development cost debts to Solgold, to running the show and dictating how things will be…. Oh, and awarding themselves fat options packages…
They're building the school.....
Morning addicknt, in life you sometimes don't get what you want....you get what you're given!
Not all agree that a J/V is the best outcome, but they might get one irrelevant of their wishes!
There will be many exit points and ALL shareholders will be rewarded (or something like that, I'm to busy to check). Does that mean investors that want production will be rewarded too?
Good luck buddy, see you back here in a week or two.....life beckons!
Agreed add we would be better off being taken over at a sp not far from where we are now rather than enter a jv and experience the long drawn out pain of being diluted to oblivion over a number of years..lts face it there are not many infrastructure projects that get built on time and in budget.
Q, you forget we were at total loggerheads with CGP/Sangha and the animosity was such that they could have made life very uncomfortable.
As for a jv, it's the very worst outcome for us - unless you like the idea of losing control and being reduced to a bit-player?
Sorry addicknt that doesn't stack up either.
CGP and Solgold could have jointly agreed a sale with a buyer. No need to offer them such good terms.
I have slowly changed my mind to agreeing a JV.
That to me makes the most sense, and answers all the questions.
So I believe we consolidated Cascabel, because it is now financible.
Fort, indeed - it had better turn out to be worth it!
It's likely that over time we could have starved them into submission, so why do it now? Because it makes us more attractive and makes it easier for a buyer to deal with. The feeling must have been that the SR would prove less effective without them on board, and for that we paid a heavy price.
However, on balance, I'm pleased we did - provided Caldwell is true to his word.
If they are using 3% as the cut off point then they wouldn't include Norges as they dipped under 3% with the merger dilution. Blackrock were already sub 3% I believe and missing off the list.
Apart from that, all looks normal. Considering CGP had 15% ENSA and around 6% SOLG stock, they appear to have dodged the dilution that we have all suffered and are almost 3% up on their holdings. Irony is, after Scott's extra 1% farce they are collectively close to 25%. So yes, they appear to be doing very well whilst everyone else BHP included have seen their holdings diluted by almost 30%.
In fact he's so good he even got us to pay his fee.
I think it demonstrates what a good negotiator Sangha is, and how poor DC was.
Take us all by surprise.
Only thing I notice addicknt is we didn't need to offer CGP such good terms and that they no longer need to stump up a shed load of cash.
I agree something is in the offing.
However with the completion of the strategic review, I suspect it's going to us all by suprise.
As per last weeks comment from Mr Robinson, I think the presentation has been updated.
Shareholdings:
Cornerstone+Maxit 23.7%
BHP 10.4%
NCM 10.3%
DGR 6.8%
Jiangxi 5.2%
Tenstar 4.0%
NM (direct) 3.0%
Other 36.6%
No mention of Norges/BR.
Caldwell is described as CEO.
Other than that I'm not sure there's much else - although I'm sure the eagled-eyed amongst you may spot something.
Dk they are being passified so the don't suddenly get all emotional about there indigenous rights
Morning all. Just a nagging questiom wtf are 600 employees doing if we ar are not exploring as an exploration comp
many!!!!!!!!!!!! Where is my money being spent as an investor in this exploration company?
DK
Evening all. You beat me to it DaKat. My Cornerstone shares have still not converted to Solgold shares! Doesnt normally take this long. Anybody any ideas or opinion? Are there many more in the same boat?
GLA
DK
You know we’re all bored when shippy turns to self deprecations lol
My solgold shares are showing close to zero value.
My Cornerstone shares still have not transferred to Solgold shares. Should this process take this long? My balance still just shows zero .
Thank god it is not in trousers
More like in Nick Mather's hat - could be a lot of options as that would be a big hat for that big head of his
And rabbit is in Nick Mathers Coat,