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Timid same here ,one thing though which we can wait for our rewards not like some green posters I see on this board imho
Apologies if this has been posted previously.
I'm a longsuffering shareholder of both Solgold & Cornerstone.
Six months left to wait for BHP & /or Newcrest to make a bid.
https://www.mining.com/web/ecuador-mining-sector-needs-clear-regulations-to-attract-investment-industry-group-says/
zero clout...not zero clue...
Its the other side of the coin Sharketmare...they detested Nick, especially because of the second bid which massively undervalued CGP in they eyes...
SOLG has conducted a charm offensive with CGO for obvious reasons because their core strategy is to take Alpala to production...
Meanwhile would we be surprised if CGP had talked to the major holders around the time of the AGM, first to side with them to try and oust Nick; and then to determine what their apparent strategy was...
And would we be surprised if BHP, NCM and Blackrock told CGP to get real...they have zero clue except their holding in Cascabel, therefore their only alternative is to sniuggle up; satisfy themselves that Keith or a new CEO is infinitely preferable to Nick; and wait and hope for a bid...
They have no clue and no alternative in my book, because by helping to undermine the SOLG SP they were massively undermining their own share price...which in no way suggest they have any real say in the game...
Compare $3.85 even to SOLG's last offer and their ridiculous overvaluation when they rejected the offer...
They have a reasonable portfiolio of assets but no way to monetise them and in the meantime developing cashflow challenges which could only be mitigated by a placing at a massive discount; a further sale of SOLG shares; or a bid approach for SOLG...
So why would they do other than publicly support SOLG...amything else would be suicide right now...
Fair point DBW.
redknight, how do you square what you've just said - which is essentially that SOLG have no intention of JV & are going to take Alpala to production - with CGP top brass being happy with the direction of the company and current SOLG management. You admit yourself they will not be in a position to stump up the cash they would owe should we take this route. Why are they so content?
No I'm not...you're insultingly rude...inconsistent (how many times have you said you weren't posting; how many times have you filtered and unfiltered just to boost your sad ego...?)
You have zero credibility except with one faithful follower...don't you remember the poll that rejected you several weeks ago...
I DO NOT believe the company will be able to take Alpala to production despite what I have faithfully relayed...
As I have stated or implied...I believe either the company will HAVE TO accept a J/V proposal whether they want it or not, OR they will be subject to a bid high enough to take the decision out of their hands...
Exactly….. and you think he’s a clown
Every now and again I unfilter the clowns when I have a load of green.
Don't worry they are filtered again, so won't be clogging this board up with argument.
Bobo is a liar, I have never said the company would be lying if there was a bid.
Interesting Bobo seems to be saying that we go to production, no JV for Alpala, we can fund Alpala.
Just trying to think who else has said that.
Thats sound reasoning ssmith...
Meanwhile we're moving up again...5% in the last 90 minutes...
Neither of us knows that addickt...you may likely be right, but there are at least two ways for that got be resolved...
BHP buys SOLG
BHP sells at say 125/200p to a major player
BHP proposes a J/V at very attractive terms including arranging the finance at cheap cost
BHP rebuts any approach from elsewhere and gets stuck with their 14%...
addicknt, a company like BHP woud want full due diligence done before buying. I'd even go as far as saying they would be happy to wait and buy SOLG as a producing miner vs this stage. They have the time and money to buy up. I think they're in no hurry here and I don't see any bids coming soon.
If I get any relevant update I will always share but for interest, I actually suggested to my source that a J/V for Alpala was the best way forward, especially to avoid an unwanted bid, thereby releasing funds and resources to develop the other 'jewels in the crown' and it was immediately knocked down...
Things can change but at that time they were neither looking for an offer or a J/V...
However...and I put it to them...until at least the definitive PFS and outline CFP they are IMHO 'a sitting duck'....for anyone determined enough...
For the likes of Barrick and BHP, the whole of SOLG could be bought for small change...I personally think its only a matter of time...
And `i wouldn't mind betting that is in the back of their minds in pushing forward with PFS/DFS and production...they will either get there or be bought out at well above the current price and so they lose nothing by pushing on...
And when Quady says the company would be lying if there was a bid, that's rubbish. The com play has not put itself up for sale; has not had any approach as far as we know, but it could not possibly stop a determined bid even with Citi helping out...and even with a 'diverse book...
Everyone has their price...seta against a 7/10 year project life and all the immense Executive involvement, a bid in the range 125/200p would be impossible to resist and unlikely to be turned down by any of the major holders...especially if it came from BHP...
Rk, so I come back to the central question which sits at the heart fo all this: why would BHP be content with a 14% stake in a one of the most important copper finds in recent history? You know as well as I do, they won't be.
Indeed I believe the financing options are equity, debt or a mix; the strategic options are probably block cave, surface, Tandayama, main site or whatever...
I DON"T believe they include a J/V for Alpala because that would squeeze both SOLG and CGP...
I also don't believe they include takeover of Cascabel, but I am confident t that will be in CGPs mind for obvious reasons...
thanks for sharing. Any released statement to that affect (I really hope sooner than later) would be welcomed!
Very definitely ssmith...
the JVs are for the handful of 'smaller sites' that are not core to their central strategy, the latter being Porvenir, Rio Amarillo, Blanca etc....
The RNS is white clear as referring solely to the strategic options re Cascabel...
The rest is just your interpretation...I am simply conveying non insider information given to me openly and honestly...
"Concurrently with advancing the Cascabel Project, the Parties will explore and evaluate a range of strategic and financing options focused on maximizing value for their respective shareholders with respect to the Cascabel Project."
RK are you saying that you believe (through your own research, whatever that may be) that SOLG are not looking into JV for Alpala (However possbily JV other sites?)
You're not answering the question.
If BHP aren't in it to end up with a minority stake, why have they sat on their hands since last October...?
My source is impeccable and at the highest level...
RK, I'll ask you again - how does that square with the RNS?
RK I may have misunderstood your post
SOLG ARE NOT PLANNING A J/V...TAKEOVER OR ANYTHING OTHER THAN TAKING ALPALA TO PRODUCTION...!!!
However that doesn't prevent someone from taking a pot at them...
Jerry...there IS a strong candidate about to come on board...the conspiracy theory doesn't fly...Nick is still on the Board and there is no way that the people I am in contact with are contemplating a 'low ball' takeover...