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Tell me how they have no other option...?
Like a bid....
Or a sale of their stake to someone like Sumitomo...
No other option
CGP up 40% values SOLG at 16p a share...
My apologies for misleading on shareholders approval...
I don't mean formal approval, I mean BHP and NCM who knocked the cashbox deal on the head, so why would they let this go through...?
My suspicion is, some of the resignations were because the parties were guilty of unscrupulous activity, e.g. perhaps they were colluding with other companies behind the scenes (remember Twiggy's outburst on RNS). They were forced to resign or be sacked. All conjecture of course.
I understand what you are saying ColonelDrake, but your maths is wrong as it's under 20% and taking into account the Solgold shares that CGP had that are now in treasury as they don't exceed ten percent of the market capitalisation.
SolGold will need to raise cash soon, as its reserves are set to run out by the end of the year
16's anyone?
Exactly fort …. Shift in power …. Bound to provoke a reaction lol
Not increased, but decrease in ENSA is minor compared to SOLG equity stake.
So according to Jezzoo BHP are going to buy Solgolds I.T department.
Says it all really. ????????
also worth noting that BHP's interest in ENSA (through SOLG shares) has increased. Previously they had 13.6% of 85% ENSA. Now they have around 10.4% of 100% ENSA.
But in 'power' terms... their grip has slipped. In fact, post the CGP deal, the latter will be the largest sole shareholder. Almost the size of the combined NCM and BHP stakes.
>IT<
Qwackers
>IT<
Good grief !!
we've effectively hoisted a for sale sign over the door, I wonder if BHP will attempt a pre-emptive move before Citi start hawking the company around the market?
Oh dear Jezzoo you must be the only person on here that doesn't get it.
Buy what.
Alpala
Cascabel
CGP holding
Solgold
Box of doughnuts.
Pick any of the above, or Indeed something else.
What are BHP going to buy.
Yes still laughing as it's clear you don't know.
indi, we'd all love to know the answer to that question.
Not bought or sold,
Need over 30p anyway, I'll wait until BHP buys >IT<
Apologies for being off-topic, however still struggling to understand the reasons why the short-lived CFO Ayten Saridas, Jason Ward (Executive director), Benn Whistler (Technical Services Manager) and Ingo Hofmaier all resigned in the last few weeks. Do we know if they received severance payments. People don't just resign from their posts for no reason. Anyone have any thoughts?
1 There are no shares held in Treasury so yes
2 No. But any cash consideration has to be paid for and we're running out of cash
3 Exactly
Thats why this deal will never happen...its a blatant gamble to flush out BHP and whoever else...
I am glad so many of you have a clear opinion about the value of the proposed merger since I still don't, one way or the other.
Now I might be a bit dense this morning, but some points are not clear to me, so...
Questions for the BB:
1) is it certain that the 15 SOLG shares have to be new issues? Apologies if it's a dumb question
2) is it certain that the entire amount would be in new issues? The RNS says "20% of the consideration could be paid in cash", not the entire amount and "Solgold may elect...". So Solgold may elect not to?!
3) If we need to issue new shares, aren't we back to the initial point about dilution? And if we could raise funds, why didn't we earlier? We will now have a higher cost base and higher funding requirements.
GLA!
No-one likes a shotgun wedding, but what really is the alternative at this stage?
We have no plan no cash, no inspired leadership
We have got to sell Cascabel, and the big boys want us to merge before they buy it.
We don't have the luxury of sniffing at it.
Hooe nobody got stung by Sean's ramping.
From 20% up to red zone - I did say makes sense to take it!
Only if larger than 25% I think but I am open to get corrected on that.