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WHATS HAPPENING ???
I think we’re experiencing phantom contractions
Yep …. You’d have thought… nice 500k trade though earlier
rich3r
yep - indeed there would m8y
r's
bn.c
If the cat was out of the bag - surely there’d be significant price action occurring - no ??
CD, unlike you to post this sort of thing. A reliable source?
Of course it’s he’s baby that’s why we throw money at him
Hi rcgl2 I do understand where you’re coming from about Mather / selling, but some might argue that over the years he became too close to the company or even indeed - that he viewed the company as being his own in-spite of its other shareholders. They might argue that because of this, he won’t necessarily be able to take an objective view - if and when the time comes to sell. Who knows - only himself I guess?
But one that is certainly apparent, is that he still has a very sizeable influence on/over the company - for better or for worse, depending on your point of view.
As someone else in another group said, just sell when Mather sells. He knows the situation inside the company better than anyone, he controls about 20% of the company and he has 90 million odd shares personally. If any bids come in, you'll know whether it's good value and whether to accept it or not by what Mather does.
With 90 million shares do you think he's going to happily accept the mythical 55p offer if he knows full well Solg can resist it and carry on further? He should know how likely financing will be or which other parties might be interested. If he accepts the mythical 55p offer then that says he knows it's the best exit available and Solg rejecting it and trying to carry on independently will end in tears.
Solgold about to ramp up the PR
Either presenting at or attending the following in next couple of weeks
11th Nov Perl Hunt mining conference
15/16th Nov Columbia Gold Symposium
17/18th Nov 121 Mining Investment London
I’m sure they won’t want a situation where they are simply badgered by potential investors as to why the two most important roles in the company aren’t filled …… what’s “really” going on here ?
Jerry, in the past and in my previous incarnation, it always amazed me when we managed to persuade a board to do it.
BBG, I don't. They will sit down and negotiate, which is the way things are done.
Lastly, any group wanting to table a low ball bid, will probably want to do so if and when they have any hurdles removed....
Do you think that is why BHP or NCM would love to push Mather?????
We need Mather to remain as he has the balls to tell this big guys to fark off.
addicknt - my question is, why do you believe our board would accept the first bid through the door?
You have said that an agreed deal will be tabled. I disagree.
The bod would have to be even more useless than I think they are to give irrevocable undertakings….
Which is probably why they will…..
RK, my hope and expectation is that the share price will have moved north before a process starts, but in order for that to happen the company is going to have to pull its finger out and deliver some interesting news; heaven alone knows there's plenty out there, or least there should be.
Noront were 33c immediately before BHP's first offer...the shares rose to 57c and we all know what has happened since...
However, BHP's latest offer is 75c, capping Wyloos 70c....but the SP is still only 85c, a rise of 158% but BHP if successful would only see a rise of 127%...
Because some people on here keep talking about a lowball and...
Even at £1 it would be a price gain of 170%...
Come on RK, you've been around long enough to understand situations like this.
RK, why do you assume it would be less?
rcgl, that's why you always hope to get an irrevocable undertaking from the directors/other major shareholders and, for obvious reasons, it isn't easy.
Why would the board recommend anything less than £1...or even £2...?
BHP 13.56 + NCM 13.48 + DGR 8.9 + NM 3.96 = 39.90....not game over...
You need 75% for game over and 90% for compulsory takeover...
Btw, I should add that to me this explains why no one else has bid i.e because thus far it's blatantly obvious BHP remain wholly committed. Were there any indication they weren't I suspect someone would have made overtures.
This is exactly what happened with Noront isn't it? The BoD recommended shareholders accept BHP's initial bid ahead of Wyloo's. Wyloo then said that's too cheap, and offered a higher amount. The board then recommended that and said they would accept. And the latest is that BHP has now bid even higher, and the board have recommended it. So you had an agreed/recommended bid followed by a bidding war, and each higher bid recommended by the board.