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Well maybe this month or year will be the time to shine
Started my position at 16p, just added more today at 15p. This cant stay undervalued forever.
If the conclusion of the SR is to sell the company, how long will it take for them to reach that conclusion? 4 months and counting; and before anyone tries to explains the corporate process to me, think about it logically. How long should it really take once you strip away the BS.
1 Surely Maxit already have their fee with the share issue last year...?
2 You cannot honestly think that Nick would accept anywhere near 30p...or for that matter the CGP Directors who said CGP was worth $12.50/share in rebuffing Mather's second approach...that equates to 70p a share...!
Sadly I couldn't agree more DM...
No merger before the MD&A...disaster...
Fort , that all sounds very crooked.... wouldn't suprise me at all :-)
Complete market disinterest indeed.
But we do have $80m+ in cash in the coffers so at least the market doesn't have to worry about that lol! The irony is, the share price was higher when we didn't have any funding secured at all!
The ARB boys have this by the small and curlies and unfortunately I have a hunch Maxit don't care too much about it. Mmm.
At end of the day... the drip drip and getting pi's impatient and pi55ed off all works in favour of Maxit looking good when they deliver a 30p offer by Chinese lol! The headlines will read 100% above last trading price blah blah blah.
But it doesn't matter much as that 30p will be the starter gun and should not end there. But first you have to get the maddening crowd ready and ready to accept a low ball as being a result!
What's the betting merger concludes next week and Maxit get their $4.3m in fees paid in shares at 14p lol!
DG1 investor, we've always been similar in our views on Solg down the years, and I think lately a few of the more tolerant and patient long termers have joined us in our cynical, hopeful dismay.
But I honestly think a bid will come this year. Of course I did last year too. But after the merger is complete we will be in a completely different position from last year. As much as is humanly possible, we have banged our heads together with CGP and trussed ourselves up ready for sale. I fully support this strategy, more than I've supported anything SOLG has done in the last 7 years. No talk of production, no pointless drilling, no box ticking exercises. Go for broke, go for a sale; might seem extreme but it's the only way any of us will get out of here with a profit now (from this point, not overall of course).
But until a bid lands that strategy fails. It fails every day we don't see a red dot for that RNS. It fails until it happens. And we know it may never come. But it's the only way out from here - we've painted ourselves into a corner and every other route now would be a disaster, expecially production which would mean bankrupting ourselves or dilution to infinity. Much as it is a drastic position, I applaud it. I like this risk, like this gamble, even though every day ratchets up the stress and the impatience, and every day we attract the trolls and the derampers, and our resident dafty gets to yabber on about diverse books and production.
It's excruciating, especially with the SP falling and falling on tiny volumes, and no communication from the company. But what can they really say prior to completion of the merger?
One thing I know for certain - the share price of today is not the one I'll be cashing up with at the end of this. It will either be 0.1p if we try to go into production, or it'll be 68p+, hopefully later this year.
We can't force it, we can't speed up time and nor should we want to. Like the WWII pilots who vomited into their masks, we just have to suck it up right now. We have to suck up a dismal share price, a lack of news, and all the atttacks and distractions of the trolls and derampers - and Quady's constant nonsense - because that is where we are right now and the only option is to sit tight or bail out.
I won't be bailing out, but looking at the days, weeks months or years till we are sold, I really don't have anything to add anymore, other than to continue arguing with idiots who just seem to have endless energy and never get exhausted morning noon or night - it's just insane and pointless.
So this will be my last post until a bid does land... or we formally go to the wall a year or two hence.
Good luck everyone, hope you all keep well, and let's hope we have a lovely Spring in every possible way.
And never forget the words of Mr Micawber - "Something is bound to turn up!" I'm sure we haven't come all this way not to get a happy ending.
We are paying the price for silly decisions and ego.
I think they call it bad management.
Been in here nearly 10years with a 16p average.
Most of that time, happily been sitting above it. quite nervous about this now. I'd personally snap up 40p a share.
Might show more about my own portfolio being too heavily sitting with Solg.
Ow well, I'm still in it for the long haul
I wonder if anyone has a 15p stop loss.
Industrial Metals (BHP, RIO, etc. etc.) having another solid day
Since August 15, that index is up 22%...
SOLG is down 35%...
You couldn't make it up...
No dave...2.5m and holding...not even trading at the margin...
Cheers
You still adding on the drop RK?
As well as what I've posted below, it is just possible that the finer details of the negotiations invlove the carving up of the assets other than Cascabel.
If a bidder buys SOLG rather than Cascabel, there are no tax consequences for the rump of SOLG, so...
The smart thing to do is for the bidder to buy SOLG and pre-agree a carve up of most, if not all, of the other 70+ projects (including Porvenir, Helipuerto, Rio, etc. maybe) between DGR Global and CGP 'Newco'...
So we get our hard earned cash and Nick and the rest sail on to a new future...
Just a theory...
Uncertain times with no communication from Solgold.
But, I do like your logic and argument at 09:28 today. What has been decided behind closed doors, we are not aware of?
Holding thumbs for "good news" soon! GLA
So heres a theory...
For those of us that are convinced that a bid(s) is coming, there may be two convergent questions...
Why is the merger taking so long and...
When will the first bid happen?
So just suppose the two are linked.
The 'Prospectus' that seems to be holding up the merger completion is a standard document, as I'm sure better informed posters on here will confirm. The rest is just routine (although listing authorities can be slow and cumbersome, not to mention FCA...)
So just supposing what is really happening is that the merger finalisation is being deliberately held up, while the first (and maybe final) takeover bid is agreed.
If you look at the Newmont bid for Newcrest the other day, it was clear that there was an earlier bid that we gdidn't hear about, because revised terms were mentioned.
So...and given that Nick had always insisted that SOLG would not be sold on the cheap (and he has said the bid should be driven by 'Asset Value' not 'Market Value"), if someone like Jiangxi has made an approach, the ideal for both parties would be to announce a deal that the Board can recommend. So maybe there is negotiation on that 'knockout' price.
Even then, as history shows, you can't rule out a counterbid...
Remember the Noront Board recommended a 75c bid from BHP before Wyloo trumped it with a 'knockout' 110c a share bid...representing a 380% premium on Noront's share price only 7 months previously, before it all started...
So SOLG could play out like this...
Merger completed RNS, immediatley followed by the announcememnt of a bid, most likely from Jiangxi...
If that happens it will be too late to buy in at 15p or even 16p...
Like everybody here I am frustrated by the prolonged silence and the slow SP decline but it's clear that we hold extremely important assets and that the Lasso government is very keen to see them contribute to the national economy.
This article was published last week, apologies if someone had posted it already..
https://www.bnamericas.com/en/news/ecuador-expects-us3bn-construction-of-2-mines-to-kick-off-next-year
"Ecuador expects pre-construction works to begin at the Cascabel and Curipamba mining projects by the end of the year, and construction to kick off in 2024, energy and mines minister Fernando Santos told BNamericas.
“There's very encouraging news. We're negotiating the move to the production stage of both Cascabel and Curipamba, which will begin construction of their mines next year," Santos said."
That's the minister of energy and mining talking. They can't afford to see this project to fail.
DG1 This the most ticked up post I have ever seen.
Kind of sums it all up realy
Hmm...I understand your frustration killjoy and apart from BHP's bid for SOLG/Cascabel back in the day, when they settled for an equity stake, we may never know how many havemade informal approaches.
What we do know is that Mitsui told the Vice President for mInes that they wanted a stake in Cascabel.
We also know that Jiangxi, a massive copper mining company owned by the Chinese State, bought a 6% stake only a couple of months ago. There is no way they would buy that on a whim as a speculative investment.
And we know not only that, post merger BHP and NCM will still have over 10% in a bigger SOLG that includes 100% of ENSS, but also when SOLG has taken streaming deals or share issues that weren't 'Rights' issues, they have complained publicly and nCM withdrew their Director, against his personal wishes.
So...in a world where the copper supply/demand balance is fgoing to get much tighter, would these companies have bought and/or retained a significant stake in SOLG with one of the biggest Tier 1 copper/gold prospects in the world and possibly others waiting to be exploited/discovered...
And yes it does look like prospective buyers are sat on the sidelines waiting to see what happens, because while Peru burns and Chile has created an unfavourable economic environment for miners, Ecuador looks stable and seems to be the next Chile.
And there are 20 or more 'players' that already have a footprint in Ecuador.
In fact you could make a credible case for BHP, NCM, Newmont, Fortescue, Lundin, Jiangxi, Mitsui, Ecuacorrientes and Explorcobre (both Chinese owned), Mitsubishi, Codelco, as well as Luminex, Solaris, Lumina, Dundee and a whole host of others...
Which is why I'm convinced that unless its a 'knockout bid' (110p or more?) the first bid will trigger a takeover battle.
Then the only decision you will have to make is when and how much to sell...
It looks like, don't call us, we 'll call you ! You got our votes - no more lip service please! Its year of hope, nonetheless!!!
GLA
I've sent Fawzi three emails in the last two days...not even the courtesy of an acknowledgement...
killjoy, I think you're living up to your moniker!
As its stands, we have no way of knowing whether what you say is true. The delivery of the SR should reveal the truth.
Oh dear, the end of days.
We seem to own something that no one wants. No one can disagree that whilst we have a vast and valuable rescource it is just too expensive to get out of the ground.
There is no incentive for any prospective buyer to put in the first bid, they are all happy to sit on the sidelines, watch the share price slide and will only react if any one else bids. There is no upside in being the first bidder.
Glad it's incoming, Fort. Where do you get this insight from? Very helpful if true. Have you got an inside person tipping you the wink?