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9.5P She's off again
GL ALL
Bozi...at the time were you meaning a lowball 'starting' bid...?
Is it finally dawning on you Add that what I said about Scott not being ceo material is actually true?!
"People will be interested in this project ". Aren't people already interested? Does this mean we are miles away from a bid/interest?
Another aspect to this is that Peel Hunt have a price target of 65p and I seem to recall Hanam are at roughly the same level. Now they've got a CEO saying he'd be happy with 23p. I wonder what they make of it.
His advisor is Bob... and we know Scott does as he's told... so Bob is fishing or about to test the water with a 23p bid.
At 9p levels and to many newbies (remember, we've seen about 500m shares traded sub 9p over last few months)... a 3 bagger would be very good for them.
Mr Liu was not added to the BoD's to raise a small amount of capital which is non dilutive lol!
Chuck a 23p bid in there and then watch, Gina, BHP, Barrick and NMM thrash it out.
I like it Bob... but did it really need 18 months of zero and running down the cash pile to get to this?
Sorry 6c/lb or 60p/share...
I think it was a tease...he said he would personally take $30c USD right now, but he implies the other shareholders would want more...I think he's trying to get someone to bid 24p a share...then watch the fireworks of counterbids...but even at 24p its almost 3 times the starting point at 8.07 this morning...
In the meantime we know from elsewhere that other shareholders won't take less than 6c a share...i.e. Nick...
Playing devil's advocate more than anything, Bozi. In an earlier post I suggested that this was a dose of realism to proceedings given some of the numbers thrown around here over the last few weeks.
If I were his advisor I'd be on the blower giving him a b0ll0cking.
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.