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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.
Red tomorrow or Monday I think let's see
No SR
Shares straight to Treasury
Merger completed
First bid
End.
Sorry to disappoint you Aquinaga...if you kept up you would know that we added c100k last week at 15.79 to take us to 2.5 million shares...
How many do you have...?
From January 9, 2023:
https://cornerstoneresources.com/news-releases/23-01-cornerstone-shareholders-approve-arrangement-with-solgold/
"Cornerstone will seek a final order of the Court of King’s Bench of Alberta to approve the Arrangement at a hearing scheduled to be held on January 10, 2023. Subject to obtaining all required approvals and the satisfaction or waiver of all required conditions to closing, the Arrangement is expected to close in late January 2023."
DM, I think they may be trying to do both simultaneously and I'm pretty sure the SR will have made the assumption of a single entity from day 1.
Fortissimo,well be finding very soon imho
Red, for someone of your vast experience you don’t arf let your facade down.
Yes we all want this done but nothing is set in stone. Anyone in any size business knows that!
Out wanting to get back in?