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Bozi
That was 7 years ago. How much would we have got 5 years ago if we seriously looked for a buyer with cornerstone on side.
All the juicy holes at Alpala had already been dug.
Maybe about 40p?
And how many would grab 40p now, 5 years later?
5 years of value or value destruction from bad managemen?
Red,next week
Sorry DM...I didn't see that...I was out all day, however...
For me the most significant thing is that I was only working off the CGP website and the information I gave was in keeping with that...there was no September filing or MD&A mentioned...
Now...what I think is much more significant is that since this morning virtually all the filings and financials haev been removed and I take that as a good sign because why would they do that unless things are very cloes to completion and the website has been wound down...?
Maybe somebody read my post and thought whoops!
Who knows but its very puzzling, but...if the website removals are suggesting the merger is virtually complete that would also fit with my suggestion that the $250,000 advanced today is the last monies needed for the same reason...
Not to get through the next 13 days, but to pay off all the regulatory/audit/filing/etc fees before the merger completes...
Also the CGP share price is falling steadily...faster than the SOLG price...$3.35 is the equivalent of 13.84p but the SOLG TSX price of 25c is equivalent to 15.50...
That suggests the MMs don't want CGP stock so switches are being priced low on CGP sells at 13.84 and high on SOLG buys at 15.5p
Lets hope this is the final CGP gasps before it ceases to exist...
This week...?
If we keep dropping they may try again with the same bid...
Ship - IMO
No
No
Yes
No
Depends which side of the fence you sit on.
No
Yes and no
Yes yes a million yeses
The lassonde curve won't have any relevance for us I suspect. We're stalled at the bottom and we don't have the means to travel to where the curve starts to pick up. For Franco and Osisko though, absolutely yes.
MJ - 10 October 2016.
https://www.lse.co.uk/rns/SOLG/investment-proposal-from-bhp-billiton-7trthnkb0t8qfl9.html
Valued SOLG at a measley $300m
SolGold's valuation on the market at it's peak was 4x that valuation, yet we're meant to accept Monte's claim that SolGold directors have sold us down the river by developing the asset into a $5.2bn NPV beast.
Hi guys, I don’t post often but always read what you guys post, very humorous at times I must admit. Anyways solgold itself not humorous at all, all this tier one resource, one of the worlds best. If this is so good fellas WTF is going on! Under 14p,,,,rubbish
As we all know, It's easy to be clever in retrospect.
So here I go.
Maybe getting the Chinese to invest wasn't the best idea ever. They have deep pockets but are not going to be taken for mugs.
Maybe buying half the mining rights in Ecuador wasn't such a good idea.
Maybe putting a BHP stooge in the driving seat was a little hasty.
Maybe putting a Newcrest employee in the driving seat was a little hasty.
Maybe handing control of the company to our minor joint venture partner is a bit hasty.
Maybe making major decisions like starting/resuming drilling in Australia is a little hasty before forming or publishing a strategy.
Maybe, just maybe, allowing BHP and NCM to depose NM as CEO (loads of initials) was a little dumb especially as the majority wanted him to remain and we know how important even the smallest majority is in the UK (?)
SOLG have/had a fantastic prospect in Cascabel and the rug is rapidly being pulled from under the shareholders feet in plain view much the same as happened with Brexit. ( I did predict the brexit fiasco)
Even though there has been a pandemic there is no reasonable excuse the the sp being where it is. NMwill point you in the direction of the Lassonde curve ( https://www.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/ )
Lets hope to a non existent god he's correct!
You will get your money back jezzoo and some.
GL
if it keeps dropping Reds gonna bid for it himself
I'm going to double up at 7P to give me an average of around 15P
I'm going to top up mid 12's next if it allows and keeping powder dry for sub 11.
I'm happy to walk away with 17p a share not being greedy.
What was the bhp proposal?
Next top up mid 12's
Yes agree - that's my point when I started the post. Norges and Chinese could pick up more stock in open market albeit smaller chunks but at present there's lack of heavy weight buying hence the drift.
Come on Fort. They could easily work 500k per day into the market and at around current prices over a month and pick up 10m.
Yes the SP would be supported initially and then rise but I'd be happy to say 20p would only be seen after 4 weeks of discrete buying.
The last time they were quite chompy and aggressive with large after hours in the millions. They can box a bit smarter than that,or their broker can.
I don't think that's case Bozi.... they acquired 90m shares + last year and if they were to try and fill their boots again even to the tune of 20m shares, then I doubt they would get sub 20p. You can 200k here and there around today's price but try and by 5m block and you'll be paying 17p+, 10m block and you'll be paying 20p+ unless of course there are sellers around who are happy to offload that kind of volume and as tings stand - there isn't. Just smaller pi action drifting and squeezing going on that I can see.
Don't get me wrong... I'm not saying they played a blinder but they haven't made a horlicks out of things just yet. 30p would see them out with some profit. 50p would be a successful return. Norges fund has lost billions over the last few years but they've had some gainers as well as losers.
I was just answering your point on Norges NOT being a great indicator and as yet.... we are yet to know as SOLG story far from over.
Monte - why would the company do a strategic review within a year or two of making a discovery.
Can you name any other companies that have done that?
Just look at the other companies developing projects... Filo, Solaris, etc etc. None of them are doing a strategic review.
Lets be honest and put our investments to the side. SOLG are only doing a strategic review because they've been backed into a corner by their partner and pockets of their own investors who aren't interested in the risk that comes with construction and production.
How much do you think a major would have been willing to pay after the initial MRE?
That's why I mentioned BHPs proposal. It's the only offer we're aware of that put a value on the company at that time.
Fort - not sure a 30% gain (assuming 30p cost) will represent a fantastic return.
50 and 60p slightly better. They've still had a mare. They could have filled their boots and some sub 20p.
'Solgold you ask? Solgold? remind me again.... Ah yes... Id forgotten about them... no were not interested in what happens there anymore.. absolute basket case and money pit... We have now focused elsewhere, and are busy defending a real Bid'
seems to have been a popular number this afternoon.
Incidentally, on Monday I mentioned we'd had the mythical 1 trade and lo and behold, an RNS appeared on Tuesday. Well, another single trade has also appeared today, so I can absolutely guarantee an RNS tomorrow morning...cough, cough!
Bozi
What would BHP have to do with it if we had a SR with a view to sell years ago?
If SOLG end up going for 40p or 50p or 60p+ then Norges will have done very well. You are making the assumption based on the state of affairs today. The reality is, should they want to acquire 100m shares now, then I can assure you, they would be able to get them for sub 20p.
That said, the chinese got a nice chunk for 16p but there's several ways to look at that one.
Todays sp snapshot is tomorrows historic view. Norges will not be watching SOLG share price on a daily basis and aligning it to every cat and dog event out there. They would have bought in on the basis of the asset. So if this goes for less than 25p then yes Norges has made a horlicks out of it. For now... I am glad they are on board and supporting the SOLG BoD's and the new direction as per AGM votes.
Just goes to show for investors... don't get too excited when a Norges type buys the stock.
They can and do make a horlicks of it. They have done so again here.
I know it's tricky buying large volumes in open market but a few million shares here and there can add up and is more than possible.
In theory... if the Chinese took 16p placing, then I'm sure they are more than delighted to be able to pick up some in the 13's. Thus far, volume suggests they are none too bothered as I can't see any major buying going on juts a few over stretched or lover leveraged retail players getting squeezed as it drifts down.
Same could be said for Norges. Big buyers in the late 20's and early 30's yet seemingly sitting on their hands now.
Weird old game isn't it?