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If the vote goes our way Friday, I've freed up another chunk of cash to top up one last time. Anyone else doing the same?
Big week. All the best team. C
Couldn’t agree more copper
Oh dear, and the petty squabbling continues. The monotony of the few has to be endured by the masses day after day!
Quady - I didn't report you whilst agreeing with you. I'm not sure what warped reality you're trying to spin here.
I wasn't contesting some of your peripheral points but I was absolutely disagreeing with the fundamentals of your argument, which was, as you put it, that BlackRock wasn't selling SolGold shares but their clients were selling their funds.
You offered no evidence when asked to produce this. You simply just continued with unfounded mistruths. So you were reported.
Good morning rcgl2.
I don't believe I am reaching as you put it.
It fits in with the strategic review as one of the major considerations is a JV.
This makes sense to me.
But guess it's a case of wait and see.
Have a pleasant Sunday and enjoy the footy.
Come on Quady, you're really reaching now! That article is just Osisko's regulatory filing regarding the NSR, they have just used Solg's previous company blurb.
Look at the company description in Solg's own Letter to Shareholders RNS from a few days ago, no mention of "emerging multi-asset major", that phrase has now been removed:
ABOUT SOLGOLD
SolGold is a leading resources company focussed on the discovery, definition and development of world-class copper and gold deposits and continues to strive to deliver objectives efficiently and in the interests of shareholders. SolGold is exploring the length and breadth of the highly prospective and gold-rich section of the Andean Copper Belt which is currently responsible for c40% of global mined copper production.
That's very good news on Norges. Combine the Norges and Chinese stake and that's at last a 10% swing from last year and with BHP/NCM and Blackrock dropping by 3% combined, that's even bigger margin.
So looks like they will be fine at the AGM although any pi's that have still NOT voted.... get onto to it Monday please! Send BHP and NCM a firm message.... pay FAIR PRICE.
FWIIW, I think the current share price level is conditioning some folk into think of lower takeover targets eg... the longer we are sub 20p the more attractive an offer of 50p becomes as opposed to being at 35p and wanting 70p or 100p.
A bit of a reset button hit I think and reckon Maxit's gambit is to get a credible offer tabled which might be as low as 40p. That looks more credible with so sub 20p than if we were 35p+ etc.
There is always a danger that BHP don't bite and enter ring with counter offer. But the only way we will all find out is to get an offer tabled in the first place. I doubt BHP will make a move until that happens or until they see significant asset erosion or monetisation through other forms. The royalty deals have certain buyback clauses so are not that damaging but do another couple of those and it begins to sting. Got to get a competitive bid situation going. Simple as that.
Full article for those that like the facts.
Lot's of interesting numbers for those who can work out value of what we own.
https://www.morningstar.com/news/globe-newswire/8690641/osisko-to-acquire-royalty-on-solgolds-cascabel-project
Good morning Bubble I suggest you read the article that addicknt is alluding to.
It has all the numbers and it clearly says that Solgold is becoming a multi asset major.
Correct quady exploration company leading to mining by others that's exactly what NM does read his history prove it up sell it on to highest bidder to the benefit of all shareholders
For me this is the relevant part.
About SolGold plc
SolGold is an emerging multi-asset major and leading exploration company focused on the discovery, definition, and development of world class copper and gold deposits. SolGold is one of the largest concession holders in Ecuador exploring the length and breadth of this highly prospective section of the Andean copper belt. They are positioned to support Ecuador’s transformation into the next copper frontier that the world needs to achieve a net zero future.
Surprised you pointed this out addicknt as it goes against everything you've been saying.
The key point is it describes Solgold as an emerging multi asset major.
We will be at taking this to production.
One of the newspapers notes that PIRC is advising shareholders to vote against some of the AGM Resolutions. It's unclear as to which ones - perhaps the same as Norges. The PIRC web site is not working so I couldn't find further details.
It's also worth having a look at the latest Morning Star shareholder list (end Nov). It makes for interesting reading.
Reko did is a mine in ****stan which barrick gold have paid near 9 billion $ and a 50% royalty to the govt.solgold is much bigger in regards licences and barrick still have to build the mine and infrastructure.Any valuation of solgold
I beleive even a third of that but wdik.
2Luke, the reason why BHP and NCM want the share price as low as possible is because they honestly believe they can get some form of control of the company by spruiking weak shareholder confidence and or waiting for a potential coup at an AGM. More importantly, the share price is so undervalued that it will be an easy sell for a bidder to secure approval from their investment committee and post their bid
I honestly believe the current BOD have pushed the co forward as much as possible (hence barbs thrown by Maxit) so post AGM I would expect bids to present themselves...
Norges and BlackRock are not on the side of the retail shareholders. And there’s nothing nefarious about that, they are simply acting according to the objectives of their funds, and making the best coin from a sale of Cascabel / Solgold is not necessarily their objective.
Nobody can make a move on Solgold as long as BHP and NCM are able to influence the board via their shareholding’s and their lobbying of other shareholders. Just as BHP needs a board supportive of their agenda, Jiangxi needs one that will be supportive of their bid, if any. Suitors will make bids based on their valuation of Cascabel or Solgold. Destabilising the share price in order to get a ‘good deal’ is not really a thin. Any bid cannot be too far from being independently assessed as being fair or reasonable, regardless of what the share price is.
Q, most of that cash will go on employment and associated costs. Of course a certain amount will be spent on advancing the technical aspects of the project, but that 50m isn't going to get us far.
I’m not sure anybody here knows Paul - they are under the 3% threshold so don’t report - but it’s good to know they have pledged for the ‘For’ vote
I posted earlier that no one is paying attention to the 50 million which is ring fenced for Cascabel.
Think about it, we can only spend it on Cascabel, nothing else.
Why have we agreed these terms and taken the money.
Only one idea works.
We are Going for a JV.
Also potentially serves no real purpose for them to get the shareprice lower if they have eventual desires on making a bid - would of course allow them to load up more on open market at a cheaper price - but any real volume would soon switch the price back up.
Also if they subsequently bid at a lower price - let’s say a silly price of 20p it would be rejected anyway and would also be countered by BHP (maybe) - BHP / Newcrest may or may not have desires on SOLG but they are certainly not going to just sell their shares cheap even if they don’t counter bid
So in my mind Jiangxi will vote ‘For’ all resolutions
I guess they could Orthern - however if they did that they wouldn’t be issued any further shares by the board I would assume - also they would jeopardise the merger going through which would make it simpler if they do have desires on making a bid.
They would also open the door to BHP/Newcrest appointing a board member with a weakened SOLG board giving them more opportunity to gain a greater grip and eventuality dilute PI’s into oblivion (including Jiangxi)
One would also have thought that Jiangxi have been vetted prior to coming on the register as friendly and maybe votes were already pledged
Only my opinion though and very much like looking at contrarian angles
Obviously via Valuestone