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Good luck Massiveray. Of course should we go to production ourselves you will be able to average down at 10p shortly. But worry not, in 7-10 years time you will finally make a profit!
Quady, in the space of just a few posts on here today, we have learned this:
You said @ 1104:
"...However if I am right we will end up building Alpala for just over 1 billion and getting a quick open cut and then become self financing for very little dilution to advance to a full block cave operation...."
and Sangha has said @ 1302:
"... the strategic review heralds the end of an era where SolGold was “pretending they were going to build a block cave” mine."..."
So what makes you think Sangha knows less than you do?
C'mon Quades, hands up, the game is over. Take it like a man.
Z
Will you apologise adick?
At least I know how to spell 'know'. From memory, Janet and John book 6 covers it, so you should be there in a couple of months.
I'm laughing at your ignorance you will see my 100k buy shortly fool.
The truth hurts, doesn't it MR?
Let's see addict as you no bugger all.
100k to start.
Monday quiz: Who said the following on another board (the Soviet puppets favourite).
"Personally, I don't believe you're invested in anything, you just like the attention from being a pest on the board and you're a career troll, the type that can't engage in modern society"
Perhaps just the whiff of hypocrisy?
Thank you SharketMare - a very useful and informative summary
Wish me luck luck guys order placed.
SM, it really couldn't be any clearer, could it?
The only unanswered question relates to how invested the board is in Sangha's comments? On the face of it you'd assume they were fully behind this strategy and perhaps for the first time in ages, the board is united and pulling in the same direction. We've had more than enough boardroom rucks - they now need to be clear and unambiguous and to deliver on their promises; and that doesn't involve any more tosh about block cave mining, $1bn all lined-up etc, etc.
Thank you SharketMare It's behind a paywall so thank you also for the highlights.
So he is saying they may sell part of Cascabel but not as a joint venture.
And no to a full block cave mine.
Maybe we are talking about open pit as a percentage holder.
Not fully invested here is playing a risky game of brinkmanship...
In April the SP was 150% higher than this and in June well over double...
So ask youfrself...when the bid comes, what will be the starting point; and the final takeover price.
And is it worth missing out for a few coppers...?
Best wishes to all...tick tock...
Anyone know when the merger is expected to complete in full?
Thanks in advance
"The baseball bat in Bob Sangha’s Toronto office is a monument to his favourite pastime of “taking down” big mining companies in acquisition battles, and he’s itching to take a swing at BHP and Newcrest."
Remember Sangha was advisor to Wyloo when their 'knockout' bid took out BHP's interest wth BHP havging to sell their stake to Wyloo after a fruitless battle...
https://www.afr.com/companies/mining/how-bhp-newcrest-may-lose-their-copper-prize-to-a-scrappy-crew-of-minnows-20221114-p5bxxy
Some highlights:
1. "Sangha helped to arrange the Osisko royalty deal under Maxit’s new role as a financial adviser to SolGold." - This is the $50m ringfenced for Cascabel - orchestrated by the same person who is saying that the dream of building a block cave mine at Alpala is over.
2. "“No one would be happier than me if we end up with a great outcome for shareholders and BHP and Newcrest end up with zero stake in Cascabel,” said Sangha. “It’s all about taking these big companies down and embarrassing them.”" - This scenario (i.e. zero ownership of Cascabel by BHP or NCM) is only viable through a third party takeover.
3. "It will see more SolGold shares issued to Sangha (who owns almost 20 per cent of Cornerstone) and some of his friends, and it will dilute the power the BHP and Newcrest faction wield on the SolGold register." - In reference to the merger, this now means there are more shares in the hands of people who have publicly stated they want an exit from SOLG, i.e. a buyout or asset sale in which proceeds are returned to shareholders. A JV would not allow for this as any rise off the back of a JV would be heavily sold into and simply not a fair or viable outcome for all shareholders looking to cash in.
4. "The strategic review will be run by Sangha and Citi and will consider selling part or all of Cascabel, among other options. Sangha says the strategic review heralds the end of an era where SolGold was “pretending they were going to build a block cave” mine." - This one doesn't need any further explanation.
5. “We are going to do what we should have done six years ago; monetise this in whatever way maximises value for shareholders,” said Sangha. “We are bringing it to an end fast and smart, rather than slow and stupid.” - Again, pretty clear what this means.
Hi SharketMare or the Italian if you could post that article again, I would be grateful and like to reread it.
I do remember it, but not the detail.
Thank you in advance.
I expect the sp to retract below 15 pence within the next 4 weeks due to holders becoming inpatient and moving on.
Let's see.
Hi Quady, no I'm referring to the AFR article that The Italian referenced earlier, where Bob Sangha laid out in no uncertain terms that the plan was to monetize the asset, and that SOLG building a block cave mine at Cascabel was no longer an option.
Addicknt I agree that's why I published the latest info on the Solgold site on Cascabel and the Cornerstone update issued as an RNS on the 22nd Nov 2022.
I published them fully and you must certainly read them in their entirety.
It makes it very clear.
Sharemarket I believe you are referring to broker notes, I assume you are savvy enough to treat those with a pinch of salt.
Sharket
“ but in the not too distant future you are going to look rather Silly”
Think that ship sailed some time ago
Quady, we have been told that the plan is to monetize the asset and that dreams of us building a block cave at Alpala are over. You can ignore the reality of the situation all you want and cherry-pick slivers of information that suit your production narrative, but in the not too distant future you are going to look rather silly.
Q, as you know, that's not what the scope of the SR actually says. It includes 'advancing Cascabel' (which is ambiguous to say the least), but you mustn't ignore what else the RNS said.
Morning Addicknt I have been doing this long enough to know the difference.
We understand that Cascabel is not up for sale, but subject to a strategic review to advance Cascabel.
I have some thoughts on how we will proceed but all guess work.
However if I am right we will end up building Alpala for just over 1 billion and getting a quick open cut and then become self financing for very little dilution to advance to a full block cave operation.