The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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BBG, indeed. Sangha's been banging one drum for a very long time and it's inconceivable that he's changed his mind and now regards this as a long term investment. It's also good to see Scott and other directors subscribe...unlike DC who refused to put his hand in his pocket for anything. It's also encouraging that given the current sp, there wasn't any re-negotiating on price.
It also tells us something else, which may not be too popular with some; and that is there's nothing on the table at the moment. I'm assuming that if there were, Maxit as insiders, wouldn't be able to invest.
Kane Unable....
Jiangxi 6.3% Maxit (Sangha) 1%...
Bring on the bids!
Its an illustration of confidence when the advisors are buying into a company which they are retained to sell. Scott also picking up another 1m. Boom times
Interesting to note that Maxit have also subscribed.
My word. Very quiet over on UK board.
Have you been watching Harry's penalty over and over again.
He would have scored in Aussie rules.
RK1 - are you making that comment about OT as a qualified geologist?
Just checking... ;-]
RK, I didn't suggest it would stop us; just that it may extend any dd being undertaken.
addickt...You Tolgui is more complex than Cascabel.....hasnt stopped Rio...
Morning Add
Indeed every vote will count and the Chinese involvement here is pivotal. Bear in mind that once the Jiangxi deal completes and are therefore eligible to vote, it should get us over the line.
After the completion I’ll be fascinated to see the major shareholders updated.
It’s a question of who blinks first now that’s all
Bozi, I'm sure you're right, and although BHP have probably been out of the loop for some time, they must have a pretty good idea of what's involved. I'm equally sure the Chinese will have been conducting some pretty rigorous dd, but there will be a number of serious players out there who are unlikely to know the detail to the same degree.
Q, good to see you've changed your mind about the resolutions. Every vote is going to count.
Add - I can see where you're coming from but I'm not so sure.
I would imagine that BHP and others have had access to technical data and have been able to plug the numbers released into their own models. Geology is the biggest unknown, but SOLGs metallurgical work here has likely helped would be suitors form their own opinions.
Further DD before parting with the sums we talk about still a must, though.
Well, if my post achieved nothing else it seems to have rid us of this total waste of space. He's contributed absolutely nothing since he appeared and he will not be missed.
Well stackhigh that was the biggest waste of letters tapped out on a post I’ve ever read on a cold Saturday afternoon lolzzz…
Anonymous poster on an anonymous bb posting sheet
Come on England!!!
Our old CEO Malcolm Norris ( who secured Cascabel) is beginning to make a few ripples again in Ecuador, not too far way from us.
Anyone who fancies another rollercoaster decade might want to get in on the ground again..... it’s not for me, I’m to old to wait for another Solgold type project. Couple of drawbacks.... it’s only quoted in Oz at present, and Cornerstone are once more involved, but if you believe in the future of mining in Ecuador, I’d say this crew represent as good a prospect as any.
Thanks Seav ….. was a bit ambiguous, glad we have clarification
He has clarified it;
"None of my comments relate to SolGold specifically. You are reading too much into it. I have come across some very high level info about trends of western governments that will impact us. Our industry is going to change a lot going forward."
He seems to be referring to this link which he has replied to ;
Federal Govt Unveils Canada's Critical Minerals Strategy – December 9, 2022
https://www.cpac.ca/episode?id=320278d6-91f2-409e-a160-1d5d0cb1576c
"That is sadly just the beginning. I am most concerned that the people making the rules really have zero clue what goes on in mining business and how their new rules may make things even worse."
Bozi, I think there may be one factor which could drag the process out and that is the technical aspect of mining the resource.
We all know it's not straightforward and this explains why we've had so many attempts to optimise the plans. We also know that many buyers out there would love to get their hands on the thing, but I'm sure they'll be looking very closely at how to best go about extraction. There will be a solution, but it may take time to get to it.
"it’s a totally anonymous bb and some people love the thought that other posters give a tish about their posts !!!
Explains why you kept banging on about a holiday that you didn't have. You make sense ;)
Agree with what both SH and addicknt say regarding a lot of option here being based on conjecture, but add is right that we have had an awful lot signposted by key players, however there are still risks. The biggest one being the AGM votes.
I was amazed that the sp wasn't higher given what we've heard with the possibility of a full / partial sale resulting in an offer likely 3.5x + from where we are now, but I think the less nieve will wait for the AGM votes to be cast before piling in. In my opinion, if the key resolutions are passed then we're likely to see a good rise regardless of an offer landing as the direction of travel for this company will be locked in. If BHP, Newcrest et al get there way, then we're in for more stagnation. Will be fascinating to see how this pans out but I do feel I may have added considerably to my holding a bit too early... but hopefully not.
Have a great weekend all. C
Add - don't disagree. Think in all likelihood we're looking at the lower end of that timeframe which I tried to point out by saying I thought it would be Q2 when any action happens.
There are things however that might drag this out. I don't expect to till be waiting in Dec 23, but if the SR kicks off squabbling between BHP, Jiangxi and maybe even Matsui then I think we'll be waiting a little longer.
I just don't expect us to be hearing in the first couple of weeks of January. The outcome of the SR needs agreement between multiple parties who have managed to agree on virtually nothing in recent times and so it's going to take some finessing and some compromise.
And if it's going to be a good compromise then nobody will be truly happy, and I suppose that includes us.
With that in mind addict I predict that the price will be 55p by close next Friday 16/12/22 @16.30 ;))
After all it’s a totally anonymous bb and some people love the thought that other posters give a tish about their posts !!!
We’ll all ultimately do very well here
ONWARDS AND UPWARDS!!!
SH, of course it's speculation - just like virtually everything that's ever written on this web site...including your stuff.
As an aside, and if you'd been here a bit longer, you'd know I spent a considerable part of my career working as a corporate financier in the City and the rest of it as a principal. So the direct answer to your question is a lot. As for your comment about SRs, it's total balls.
Good call DBW
Add, how many mergers have you been part of? Because you've just completely misrepresented the process, and I'm interested to know if that's deliberate or not? Can't see that you would have a reason to deliberately misrepresent the process (unless you were being rampy?)
The rest of everything you say is just baseless speculation and conjecture, but we expect that on this board of fantasists.
As predicted, Bozi's claim of 12 months (see countless examples where reviews of strategy have taken years, not months) has touched a nerve with those keen to have us sell out early and cheap.