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Norges and BlackRock are far more heavily invested in BHP than they are in Solgold.
Solgold has not been shorted, currently 228 UK listed companies that have short positions.
Solgold is not one of them.
You can check.
https://*********************/shortinteresttracker
RK, what's your take on the situation, specifically the share purchase?
Voting rights always remain with the owner of the shares.
An investor enters into a short sale when they believe that the value of a security will decrease. They decide to sell the shares, however, they don't have any shares to sell so must borrow them from a broker and return them at some point. Because they never own the shares they are never the holder of record and will not have voting rights.
Voting rights always remain with the owner of the shares. This is either the original investor that bought them or the investor that buys them in the open market when the shares are sold in the open market during a short sale, which is agreed upon when opening a margin account.
lost, we don't have that number of shares held in Treasury.
could be Solg themselves I think I read in one RNS that they would be able to sell or lend their shares in advance of getting them when Solgold and Cornerstone merge. They used an unusual word that ment they could sell a load before they got them. I didn’t really understand it because if a bid came in prior to the deal with cornerstone it everything is stopped the merger doesn’t go through
I am with you. Lost in what this all means despite some explanations in provided links by some users.
if I've understood this correctly - and there's a good chance I haven't, we have an existing shareholder who's increased their holding via a short position, thus giving them more votes at the agm, whilst simultaneously protecting themselves against a drop in the sp. Or is it the other way round? i.e they've lent the stock.
Whatever it is, the other transaction is far more interesting. Who were the sellers and who who bought them? The absence of an announcement from CGP suggests it wasn't them selling, so who else has that number of shares and is happy to get rid of them at this critical juncture? Indeed, why would anyone sell at the moment? Could it have been Valuestone selling to Jiangxi? Or has BHP/NCM had enough?
It can't have been an accumulation of shares, over the past few weeks, as has been suggested, because there haven't been that many shares traded and you wouldn't see two single purchases. And it can't be anything to do with the placing as the price is wrong. Or is it a transfer between two related parties?
I must admit, I really don't understand this move. The timing seems extremely odd. Maybe we'll get some clarification this morning.
“In the last month Ecuadorian porphyry developer and explorer SolGold has attracted Jiangxi, the largest copper producer in China, as a third strategic investor on its register in addition to BHP and Newcrest, prompting speculation of a potential bidding war.
SolGold is a case study for the value created from the discovery of a gold-rich copper porphyry, which re-rated 20x between holes 13 and 67 at the Cascabel project, despite an unfavourable copper price and general resource markets at that time”
https://stockhead.com.au/resources/asx-copper-plays-looking-mighty-attractive-as-price-heads-north-and-ma-ramps-up/
Morning all. Just mulling over everything which has been said and what has happened in the last month or so, what stands out to me is why would someone say go f==k yourselfs to the big boys, unless you knew what was about to happen. That is literrally putting your reputation on the line?? I like a fighter, rogue, rebel whatever you want to call them, but there must be a basis for this statement? Either a cavalier who will save us or someone looking for early retirement ?? I think support of all resolutions at agm will see us over the line! Good luck to all long time suffering shs.
GLA
DK
Worthless
I think coppers are finished. I remember the farthing , the h"penny and the penny , old school , all gone. Now we had the new decimal halfpenny , gone. How long before the penny and tuppence? Copper is dead .
Othern you deramper, you lol ;-)
https://www.mining.com/consensus-forecast-is-for-two-years-of-stagnant-copper-prices/
For every copper price boom story there is always alternate views.
China has been choking the commods market for a while now due to covid policy. Signs are now there that China are exiting that policy which means back to business for precious metals as the long predicted post covid infrastructure spend commences.
Maxit don't need to be too cute with the sale process but any buyers or interested parties will be acutely aware that the longer they leave it into 2023, the more likely PM's are rocketing.
I said a while ago that the window of opportunity was wide open for BHP to take a pop when the market was puking on inflation in late September and SOLG were looking weak with rest of market.
Fast forward to Q1/Q2 2023 and we could be looking at copper through 10,000pt London pricing.
Any buyer of Alpala will be aware that there's 5 years minimum (poss 3 to 4 if doing open pit Tandy first) before production so the sweet spot is disappearing for copper shortage pricing as likely to meet some saturation from 2030 onwards.
Killjoy, that's my take on it.
So by borrowing the shares someone has gained votes for the AGM.
Bogota,
"Stock lending could be leading to shorting by the lendee entity"
I very much doubt it. We're well funded now, so I don't see what there is to short?
Although maybe I could see someone taking a punt on a disastrous AGM, I suppose.
Very risky though, imo.
Investing strategy by Charles archer Headline could the west face copper shortages in 2023 well worth a read as he's a top man hope all's well in camp tonight
Thanks red, but they are still technically Norges' to vote with at the AGM?