London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Thats not a rollover, its a buy (earlier buy and cancel)
We really are due some sort of progress report
If those in the know are bailing, they obviously didn't know that much. They are about 5 years late on the bail.
That's right Dave... 2.5 million shares traded today and that means "those in the know are bailing out".
Goodbye BHP, goodbye Newcrest, goodbye Mitsui... all heading for the exit, probably Mather too.
You absolute plonker.
Are you really sure you wouldn't be happier in Premium Bonds?
SP slowing sinking however....
439,624 rollover - someone is bullish
Looks like those in the know are bailing?
@Fortissimo, can you see Chinese bidding for NC?
I'll leave you to figure this one out, scrat- bit of a head'scrat'cher. If you (or anyone else!) gets it I'll buy them a pint
If you read the article, Fortissimo, it is saying that bigwigs think the rumour of a takeover of Solgold is wide of the mark. As in, the 'bigwigs' (lacking a citation or any credibility) don't think this will get a takeover bid.
I think it probably will- it's a rubbish bit of fence-sitting journalism- but I was just pointing out that it's not a positive piece about Solgold and it's sale prospects. Everything else the original poster here said is correct.
Ar is Argon isn’t it?
AuAgCu might work better.
With a side order of molybdenum
AgArCu, I don't think the Mail on Sunday article was saying a takeover was wide of the mark at all. I think you've jumped to conclusions there.
The key point I think you've hot on is this "But some senior industry bigwigs reckon this is wide of the mark, noting it will take years before SolGold gets its prize project off the ground. The long wait could be enough to put off any possible buyer. " END.
That line makes little sense to me as we all know there's no way SOLG are financing this to production. So the takeover rumour is based around the 'reality' that SOLG will sell out early in the stage to a deeper pocketed partner / super major who knows how to get these projects producing and has the cash to do so. In that context, the rest of the 'wide of the mark' stuff is nonsense and not relevant. The whole point is... it's a new country regional play huge opportunity for a super major and they don't get involved in those based on a short period of time. They think about it as a 20 to 30 year investment phase. Like that seen in Peru, Brazil and so on.
There's a reason why Gina R (indirectly), Franco, Chinese, BHP, NCM, Norges et al are all invested in SOLG. They know how great the opportunity is. It's not going to take years... it's going to take months or weeks before that Strategic Review reveals the game plan.
Article below... "There are some takeover rumours that are practically evergreen, with chatter resurfacing whenever the market goes a bit quiet. One of these involves mining behemoth BHP and retail investor favourite SolGold, which is working on a copper and gold mine in Ecuador. BHP first invested in SolGold in 2018 and has more than doubled its initial stake, making it one of its biggest shareholders. The City rumour mill reckons a takeover of the South American miner could emerge later this year – though this is the same mill that said it would happen in 2021 and 2022. But some senior industry bigwigs reckon this is wide of the mark, noting it will take years before SolGold gets its prize project off the ground. The long wait could be enough to put off any possible buyer. One thing is certain. As long as BHP sits on its investment, the speculation will keep churning.
Heres my take...
She had lunch with someone who said "SOLG's going to get a bid soon"...
She said "that rumour is as old as the hills" but...
She wrote that pointless article so as to be able to say "you read it here first" when the bid comes, while straddling two stools, the other having been made by Quady..."Whoa! We're going to production...Whoa in the Ecuadorian hills..." (To the tune of 'Barbados')
Surely we must listen to what our new masters are saying and not unnamed 'bigwigs'? (typical Daily Mail description)
At no stage have I heard or read any one of them state that their intention is to take this to production (I'm referring to Sangha and co, not the out of date web site) These people are in charge now and it must be safe to assume they intend to deliver on their promise.
These boys sold the merger deal to their own shareholders on the premise they'd deliver a near term deal, and we must not forget that the CGP shareholder base will form a significant voice once the merger is completed. Do they really want even more disgruntled shareholders on the Register? Doesn't seem likely to me.
Yes let's hope it's on good terms AAC
I agree Bubble2021, I think Solgold will try to sell on its assets or make itself a target for full takeover. The article was just saying 'bigwigs' don't think this will happen. And neither does the market, currently, but hopefully they will all turn out to be wrong and your reasoning detailed here will see us taken over on good terms for us PIs
Yeah but global demand far outweighs supply ,do you honestly believe that they going to sit on millions of tonnes of copper silver and gold and..just wait a couple of years for a takeover?,you would have to be deluded like copperpot and Quady if you think that's going to happen imho plus and it's a big plus as part of the licence agreements they have to prove it up and have everything in place to mine before they expire ,just check when they expire then tell me again it's going to takes years to mine ,why do you think the bod want to get a sale done?,even their pockets can't stretch that far ,so rumours abound yes ,sale yes ,another quote from NM ,To give value to all our shareholders once proven up ,he does have a history of proving up an asset and selling it on dyor gl.
JG,yep totally agree with you there crazy
JG1964, are you referring to the 'This is Money' article, or something else? Because if you read it, it said bigwigs don't expect there to be a takeover ("this is wide of the mark"). I hoped for some positive press coverage but this certainly wasn't it- highlighting that there have been rumours of a takeover for years that haven't come to anything. Shame, as a widely publicized article mirroring what lots on here are saying might draw a bit of pi interest whilst we wait for news.
SM, last week someone posted something from the company along those lines, but, as you correctly point out, this is SolGold.
Tier 1 asset and supposedly other Tier 1 assets in the making, a newspaper report on Solg potentially being a future target over the weekend and our share price starts goes South - cannot make it up
Add, your final sentence is something I've pondered too recently. It would mark a serious step change in the way this company operates were it to deliver news of the merger completing alongside an agreed deal for Cascabel or the whole lot.
The optimist in me thinks this is what is happening. The pessimist in me reminds me this is Solgold we're talking about...
SM, it seems to me that the delay is likely have been caused by us not wanting to issue the Prospectus until CGP have cleared all of their conditions - in other words, the deal is done and dusted. As it stands, and as i pointed out earlier, it appears they still have a few boxes to tick.
Equally, we may be waiting to be able to issue something positive from the SR, which as an exercise would take longer than the preparation of the Prospectus.
I have to say I don’t see much of a positive in the Newcrest/Newmont situation for SOLG shareholders. If anything I think it has the potential to delay any corporate action here, as any potential acquirer might want to wait and see what, if anything Newcrest does with its stake.
Given the boardroom troubles over the last few years, squabbling over funding, and lack of alignment with Newmont’s strategy (assuming they are successful in their bid), it wouldn’t surprise me to see the stake Newcrest own here sold off. That might be positive for us as it helps to put a new or more honest valuation on Cascabel, and would flush out anyone other than BHP and Jiangxi who are ultimately interested in owning and developing Cascabel.
If I were Jiangxi and thought I’d have a chance at picking up Newcrest’s shares on the cheap, I wouldn’t be in a rush to make a bid for ownership of Cascabel or SOLG as a whole. That said, through waiting you run the risk of someone else (Gina R or whoever) owning a slice.
I do hope as Fort notes that this acts as the starting klaxon for more dealmaking across the sector though.
A week late and counting SOLG. Anything beyond end of this week will look shoddy (again).
Anyone thought they maybe waiting on local elections that allow duristicion over what happens in there area to be counted ,results should be out today or tomorrow, government said they still have overall authority over decisions but need to keep the indigenous people on there side tbh