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Ortherncopper, not sure I would call GGP a leading example of great management and certainly they are no better than SOLG if not much worse imho.
38p down to 7.3p recently and that's your idea of classy management? You certainly know how to pick them! On top of that, they started with 100% Hav and now have 30% and debt as well. Had GGP management acted sooner in the cycle - GGP shareholders would be much richer. Same can be said of SOLG but what set them apart is the $150m raised via Royalty streams. That really shows the class of the asset and the class of the management to side step BHP et all clutches and minimise shareholder dilution.
Several things have changed with regards the size of the asset especially in terms of ownership. At 40p, SOLG were valued on 85% of ENSA and folio plus cash/ inc debt for royalty. Use 2.2bln shares for reference to that 40p.
Now, we have 100% ENSA, additional royalty and similar cash balance inc folio. Shares in issue soon to be close to 3 bln.
The 40p you talk about (nothing changed scenario) equated to around £900m market cap. Post merger, 30p or thereabouts will amount to the same reference point as your 40p.
However... we do have 15% more of ENSA. So that's your cream on top which needs adding in along with the premium for holding a 100% owned tier 1 asset - eg less fragmented and just how buyers / partners like it.
So I guess the question you should be asking is whether that 15% ENSA stake is worth that missing £300m as 40p post merger will be £1.2bln market cap.
Okay slug, if you say so *eye roll*
Stick to solg. Conspiracy theories about vaccines, climate, 'wokes' etc are for other message boards that us investors can ignore.
Are you familiar with the internet law that says as soon as you liken something to the Nazis, you lose the argument?
Add - I just don't see what connection there is between the SR and the merger.
For me there is zero.
I think your first option is likely to be more accurate,but I'm just speculating.
When you get out of your car, in central England, in mid July and it is hotter than Dubai then you know something is badly wrong with the climate!
That’s what happened last year!
I know what you mean but 1 week or 2 is hardly a drama. Like I said a few days ago, the cynic in me thinks that the money men involved with those extra placed shares (not the chinese ones) might want a bit more time to play with SOLG's LSE and TSX share price. Also as addinct highlighted yesterday, Maxit do get paid $4m+ in fees so one would guess they will be issued shares. Add these to those they apparently acquired in the placing and you have an insider there that could in theory forward sell stock knowing they have it coming in fees at lower price.
Let's say when the price was 18.5p recently, Maxit sold (short) 5m or poss 10m shares over several days. They know they are getting those 10m shares handed to them at 16p or knowing SOLG, they'll probably get them at 15p lol! It's easy money isn't it.
What I am puzzled by is the fact that we have Maxit as advisers and very much insiders (due to certain holders as well) and yet they are issuing shares effectively to themselves.
Like I said... any stretched out process in the merger no doubt helps some with fees and CGP's cash pile (which was XX back in October) is what now??
Anyway... lesser of two evils as they say. Would you feel safer with SOLG and BHP holding the keys?? Nope!
There are comparisons and arguments about the pros and cons of greatland gold… but their management and investor communication is a totally different class when compared to Solgolds. Like night and day!
Slug, let's stick to Solg after this.
Your argument appears to contain a number of unsupported claims and conspiracy theories. There is no evidence to support the idea that the UK's response to the COVID-19 pandemic was a deliberate attempt to control the population or seize their wealth. The high number of deaths during the pandemic is due to the spread of the virus, not the response to it. Additionally, inflation is a complex issue that is influenced by a number of factors, not just the growth of the money supply. The suggestion that excess deaths are being hidden by the media is also not supported by the available evidence. It is important to rely on credible sources of information and to approach complex issues with a critical and discerning eye.
From today's FT:
"Widespread anti-government protests are disrupting copper output in Peru, the world’s second-biggest producer, triggering predictions of a further surge in prices for the metal which has already rocketed in recent months as China’s resource-hungry economy reopens.
Demonstrators demanding early elections and the resignation of President Dina Boluarte have thrown up roadblocks across the country and attacked mines, causing production slowdowns and closures in the Latin American nation’s copper operations, which account for about 10 per cent of global supply."
Thing is Fort William a week often turns into 18 months with these clowns
People often get most frustrated and impatient just before an event actually unfolds. What's the rush? What's the urgency?
They said the expected things to wrap up around end of Jan. We are just 1 week over !
1 week!
Chill .
Bozi, there are quite stiff penalty clauses on both sides, so I don't see either party walking away from the deal.
This is caused by either a delay in the final approvals from whichever Canadian authority is involved, or, more probably, something else is going on with regard to the SR but is not yet finalized. Either way, it's bloody frustrating.
Agree Orthern.
The silence is shoddy and unprofessional. Nothing deafening about it, unless SolGold are planning to leave CGP high and dry at the 11th hour.
Given the current management, that would appear to be a non-starter. Had Mather been CEO however...
The longer it takes to complete the merger, the more I doubt Solgolds ability to close any deal…. Solgolds silent delays regarding certain milestones over the years have only ever been bad news and disappointment.
That means a massive increase in M (shares in issue) must be countered by a huge drop in P (price)
On a daily/weekly/monthly time basis, there has not been an increase in shares but the price has dropped.
There isn’t a lot of MV=PT with solg.
I'll take close!
When I said fossils I did mean dead animals, if that gets me any more of the cigar ? Lol
Monte ,just have a little read of CNBC METALS news posted yesterday ,explains why we are going to be in short supply ,Chile, Peru shrinking supplies , political issues ,tax hikes on conglomerates,strikes etc
Bubble, I know what the "experts" say about copper, the point I'm making is they have been saying it for well over a decade now. And according to what they said then we should already be in huge under supply now.
It's called fossil fuel because oil comes from fossils that have turned into oil after thousands of years. How's that for organic?
Just read CNBC METALS news posted yesterday on copper demand and prices then you'll understand how the big boys will be clambering all over themselves to get hold of solgolds assets
Copper will still be in demand, no matter what; urbanisation in the developing world cannot be turned back, neither will population growth slow anytime soon obviously the green movement helped with the copper projections but they have been talking up this copper sweet spot for years.
A lesson from BP today.
They scaled back their plan to cut 40% of oil production by 2030 to about 25%.
They basically went back to doing what it said on the tin and the market loved it.They finally realised to make money they need to do what they do.
If Solg realised that, they could have sold this years ago for more money.
It wouldn't surprise me if he pulls a rabbit out of the hat...