Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Does mention cornerstone merger to complete early 2023!
Optionality remains open with a strategic review underway
SolGold is still undergoing its Strategic Review process, in tandem with cost
reductions, in which it is evaluating financing alternatives, a spin-out of assets or
a sale of a stake in the Cascabel project. The consolidation of the Cascabel
ownership structure through the merger with CGP positions SolGold well to
attract strategic investors in the assets, as well as making the Combined Group a
more attractive acquisition target for potential industry consolidators.
Valuation: GBp85/sh, 415% upside from current share price
We leave our SOT valuation unchanged at 85p/sh as we await completion of
the CGP deal and Osisko royalty. Alpala contributes ~US$2.3bn to our SOTP
based on 85% ownership and a target P/NPV of 0.8x our ~US$3.4bn DCF (at
Jun'23E, 8% WACC, US$8,500/t copper). We then add a US$72m based on 0.3x
our ~US$240m DCF for the conceptual inclusion TAM, include US$150m for
SolGold's regional portfolio and adjust for net cash and outstanding options and
warrants to derive a GBp85/sh target.
https://pbs.twimg.com/media/FiWaZu1XEAg8Trq?format=jpg&name=largel
Yet again 1.53 million after hours and the total for gthe day at 7.025 million is almost double the long run daily average...
So when are we going to see at least one TR1...?
Then Boom!
Thank you Stackhigh for your graciousness.
We don't need to fall out over this.
Have a good evening...and Orthern.
Sorry for the mislead Orthern.
To clarify.
I do not think SOLG should accept less than the 78p NPV, but I concede that the possible range of successful bids could be 60p/125p...a key factor will be what is happening in the markets at large.
And that is why we have to get on with it...
December 2023 would be a disaster becauee we will have a full blown global recession between now and then...
And look at the effect COVID had on the SOLG share price...
Genuine question… not a p-ss take… What’s changed that you value is now drastically reduced?
Red just one hour ago you stated no lower than 78p… and a few days ago was suggesting it could reach as high as £2…are you having doubts now?
Perfect. I really hope you're right, and I'm wrong.
Thanks for your mollification stackhigh...
There will be at least one bid.
Range of final takeout?
60p min; 125p max.
AIMHO
You don’t have to try and police the board.. you could just ignore him like most people are doing.. you don’t have to pay any attention to posters, you could just ignore him
Hi red. Who said I was left £25k? It would be pretty irresponsible to shove a whole family's wealth into a random mineral explorer. Just re-read your CV and it's super impressive, so maybe you are right, and there will be a bid soon. Or maybe I'm right, and there won't. You claim to be doing exactly what I set out to do a week ago- stopping people peddling an opinion (that there will be a bid imminently) as fact. There might well be, but it isn't certain, is it? So we shouldn't state that there will be a bid.
Warren said (inter alia)
"I my career I have only very rarely seen a company taken out below fair value. Virtually always investors get fair value or more. Often times they are paid a very serious premium."
Yes Massive Ray springs to mind , one and the same imho.
Orthern...sorry to disappoint you...I'm sitting here completely calm and rational simply refuting a poster who is posting unsubstantiated rubbish. And I won't let his uninformed opinions stated as facts lie fallow.
And as I said to him yesterday, I don't do angry either...
Its quite easy to remain rational when dealing with posters like Stackhigh. You simply ask him for the facts that he cannot produce. Stating that there has been no RNS of a sale of SOLG is inane and gives a window into his ignorance. Which is not surprising because somebody kind left him £25,000 which he has invested in SOLG and sat on while insisting that it will not increase in value before Dec 2023 because there will be no bid.
I do hope he has the patience to hang on...
"You say he's got a bidder locked and loaded. "
Where did I say that?
Are you getting so desperate?
Wow someone is getting emotional here today
Monte, just use the filter button and Stackhigh is no more.
I have a hunch on the previous alias or the one he normally goes by and that was filtered long ago!
Anyway, we move on! Another high volume day for SOLG with seemingly two order books in play.
This is Warren Irwin
https://www.rosseau.com/
"Rosseau is well known for its expertise in the Mining and Oil & Gas sectors."
This is Bob Sangha
https://www.maxitcapital.com/
"The Leading Independent Financial Advisor to the Mining Industry"
"At Maxit Capital we partner with clients from across the globe to help them source, analyze and execute value-enhancing M&A opportunities.
Maxit Capital is a leader in the provision of expert advice related to hostile transactions, including take-over bids
Our principals have advised on over 20 transactions, including recently:
Osisko Mining’s successful hostile defense against Goldcorp and subsequent sale to Yamana Gold and Agnico Eagle Mines for $4.1 billion
Orbis Gold’s successful hostile defense against and negotiated sale to SEMAFO for $180 million
Northquest’s successful hostile defence against and negotiated sale to Nord Gold for $29 million
Maxit Capital brought Newcrest Mining's $22.8 million to Solgold
Maxit Capital LP acted as financial advisors to Wyloo Metals in connection with their succesful bid for Noront...
Hi Monte! Sorry, must have missed your call amongst the echos. For clarity, I am invested here. Thanks for your interest though :)
Or you could say he's biased. That it is in his interests for the public to believe there will be a bid, or to try and trick a bid out of a major. And that he's following one of the most established playbooks in the game. You say he's got a bidder locked and loaded. I say it's bluster. He's tweeting. I'm reading RNSs.
Guys
I called stackhigh out yesterday.
Its pretty clear he is not invested here and is just coursing trouble.
He appeared from nowhere after the last rns's
Let's no spoil the board and ignore
So you could say, for example, if somebody with all that directly relevant experience is saying there is at least one bid coming...and they've backed that up by buying 2.4 million shares (so far) (not 200,000 shares from an inheritance)...then maybe he does know what he's talking about and maybe I don't want to sell and might even buy a few more, like him...
Well said Bubble...sanity reigns!
So Stackhigh you say you have invested an inheritance.
So please tell us what practical expreicne you have of stock markets to be an authority on how share prices are determined?
I do have, having been a 'market maker', qualified stockbroker, Principal investor, Pension Fund Manager and Money Market Fund Manager managing assets up to £4.3 billion.
I've also been a plc GFD, involved in mergers and takeovers, appointed bid defence investment banks and set up 'white knights'.
None of that is to impress anyone, its so that you can compare your relevant experience to say what you did in your post of 17.05..
So what is your relevant experience on which you base those statements and indeed your other opinions which are presented as facts?
Market Makers determine prices...end of...and if, for example, a large buyer has a big order to fill ( as I suspect there has been for more than three weeks, they are required to notify the market of the full size of their order, so that the MMs can manage the SP in order to fill the order at a price acceptable to the Buyer.
When most people are fully invested and few want to sell because they think a bid may be coming, it is a slow process which often involves the price being held down until a given amount of stock can be bought.
The major risk being that a piece of information may emerge in the meantime (such as a bid) which would at least temporarily take the control of the share price out of the Market Makers' hands...
Red exactly demand for copper will far outweigh supply imho and guess who got millions of tonnes of it and gold and silver and ......