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You’re in denial, made worse by all your T trading……..
A piddly merger does not make any difference to the attraction of the asset.
You have every excuse under the sun for your failed ramping, autobots, merger, etc
red, the 100% ownership is a valid argument but it's today's argument of choice. We have been debating since 2016 (that I can remember) about majors stepping in and there was always something missing, the PEA, the PFS, the BFS, the various permits, now the merger.
If SOLG was such an obvious business case for the majors, they would have bought it any time in the last 6 years. Obviously that's not the case and to be honest I just hope the problem has been the egoes, and that it's not instead a problem with the resource itself (e.g. too deep, block caving being unpalatable, etc etc.), the geography (e.g. the government still being perceived as unreliable, the taxation not appealing to the majors, etc etc.).
Anyway, hopefully we will find out soon enough, at least what is the next step if not the end game.
GLA
Why would 'the buyer' show up before the merger is complete, i.e. 100% Cascabel ownership...
Doesn't make sense...
Nut onc it completes, there may no longer be a chance to buy shares at these bargain basement prices...
Looking at the torrent of autobot deals today, nobody can convince me that this market isn't being manipulated...
"I’ve found that the most vulnerable organizations for stock manipulation are small- and medium-sized companies..."
https://www.forbes.com/sites/forbesbusinesscouncil/2022/02/24/is-your-company-stock-being-manipulated-what-executives-should-look-for/
If we take out BHP and NCM out of the equation, since it's fairly clear that they would have bought SOLG if they could it their way (cheap), the rest is speculation. If Maxit is boasting that they will sell SOLG at anything more than what BHP would be happy to pay, then even the Chinese might have bought in cheap to take a chance as in option a) they can buy the rest at or around the same price, or option b) someone else comes in at a higher price and they make money on a resale.
Of course there could be the fantastic buyer that will pay through the roof, but despite our aspiration such buyer has not showed up (yet), so it could well be that there is no such buyer out there.
I hope not of course, but whatever we say here is pure speculation. The company has said all kinds of things one way or another and we cannot simply choose to listen to one argument (production) or the other (sale) or yet another (the unfathomable review) expecting at this point that this is what the company intends to do or will in fact do.
From an investor point of view, a real s***show.
Jianxi will not be able take it, until or unless place the firm offer before anyone else
What planet are you on Colonel...special divi...? How ill that be funded? Out of the Osisko deal...? Pah!
The merger isn't complete yet, so this doesn't make sense either way:
"It comes as no surprise to see SOLG's volume soar post merger update..."
In the 31 trading days since Dec 19th, the pverall average is less than the long running average for Solgold and it was below average on 21 of the 31 days. Indeed on many of the days, lumps of the daily volume have gone through after hours...
Given that there is a takeover bid(s) coming, and Sangha is orgainsing it, why would Maxit sell out for less than the ultimate takeout price...
Opulentia...clearly the favourite at the moment would be Jiangxi...why else would they spend a piffling ,%30 million. And why would CGO and Nick give them the stake unless they wanted to set up a battle? The shares will go into Treasury. 50p opening bid and bring it on.
I agree DBW... spot on again...
Massive has big nets waiting and not tiny ones.
Have no fear Jezzoo, patience will be rewarded, this was out just under 2 years ago ;))
https://www.mining.com/solgolds-copper-project-in-ecuador-bigger-than-expected/
We seem to forget why we all invested here amongst the childish banter
Great news, another 98% and I'll be in profit !
Fantastic 2% up
Delaying the merger completion and issue of shares is currently working very nicely for the ARB funds. Anyone might think that Maxit and co actually want to give them some more time lol!
I genuinely think the shorters (some will be CGP holders who forward sold) thought the markets were in for a rum time across Nov and Dec. But the market bounce back has caught many off guard. The doom mongers in the October wash out no where to be seen now. Most thought January would be dire. Feb worse.
I'll be frank. I'm not a fan of Maxit. I think they are the money men sort that think selling at 30p is a good deal if it means you can recycle that money into another venture before market bounce back properly in inflation dropping fast in H2.
Maxit sold out of SOLG at 25p levels to BHP some years ago. They couldn't sell out their CGP holding as interest and liquidity not there. The key benefit of holding SOLG shares rather than CGP shares is that there is a better market to sell into.
It comes as no surprise to see SOLG's volume soar post merger update especially when you factor in that every CGP share held is actually 15 SOLG shares in waiting.
At end of the day, it doesn't really matter what Maxit serve up whether 30p or 40p etc ... what matters is what BHP and NCM want out of it and whether counter bids follow.
Just need to get the ball rolling with the first bid.
And like someone said recently... the only way to cash in is via a proper 'payout' as if the value is in the share price (still trading) it will just get sold into as all those CGP holders seek to turn shares into cash.
So what's coming?? A special divi? Or will we see another Maxit style deal whereby the interested party buys Maxit's stake for XXp (like they did with BHP) and gives them a 20%+ stake in SOLG??
A special divi is not going to be very tax efficient to many and not welcomed imho. What's the alternatives?
A strategic review might reveal sale plans but what's the strategy on getting the best tax efficient pay out for shareholders? Not all are capable of forward selling stock and then buying it back in secret offshore accounts lol!
I think you're reds wife DB. You certainly seem joined at the hip.
has a buyer been found?, or will one of the Strategic snap these up?
The Transaction provides SolGold with the opportunity to sell the 157.1 million SolGold shares held by Cornerstone to strategic investors before the closing of the Transaction.
is that what is holding the transaction up?
GLA LTH
Wish this would get a move on got some profits want to put in here sub 15p - all on a free run here.
Hi Red
I’ve basically been doing the same and agree on where this is heading. Most of the investors I talk to seem to think it’ll just simply be BHP or Jiangxi who walk away with this, whenever it happens, if the first bid is low I feel one or two more may show up.
As I’ve said before one day an RNS will land leaving no more room for speculation….. hopefully it’s not too far away.
DBW
Paid for them and bought some more.
Judging by his flurry of posts this morning time is ticking on that T20 purchase a few weeks ago…..
Tick tock……….
Because they obviously underestimated the reauirement and the time to process all the UKLA and Canadian requirements, including how long a prospectus would take to complete...
Its clear to me that it is only the latter that is holding up comopletion of the merger...
Once the merger is annoucned it will IMO be too late to buy shares...bid incoming...?
Nothing to see here just yet.
Back to poly and the money farm.
Bozi, the only circumstance I can envisage which would lead to the SR not being produced is if we've received a knock-out bid(s) which the board intend to pursue.
How likely is that? No idea, but given we haven't announced anything, I'd suggest it's unlikely.
Meanwhile....
15.88 to 16.50 to 16.16...solid buys going through...
Do I hear Dame Nelly Melba gargling in the wings...?
How is completeing the SR fundamental to a takeover...?
Maxit is a M&A specialist..I'vev said all along the SR is a smokescreen...
They've got a skeleton SM team...no permanent CEO, no permanet CFO, no Corporate Finance Exec (Ingo's roile'''to finance Cascabel), no Exploration Director/Executive (Jason Ward), no Technical Services Manager no Regional Exploration Manager no Director of Studies...all resigned...
And don't say Citi, because they were appointed for Bid defence and Maxit is now advisor to both companies...
Red - why no SR?
I can't get my head round this point.
The SR precedes any transaction. Bob will want the credit for deal making one of the most anticipated mining transactions in many a year (if one materialises).
Binning the SR is basically playing down his and Maxit's role.
I just can't see the leadership group doing that.