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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.
Can you not read Qwackers.
I said they BHP may buy
>IT<
And I know your aren't laughing !
Exactly JMI but surely the dilution needs shareholder 'approval'
RK you saying Solgold shareholder approval. The RNS does not mention any approval required by Solgold shareholders but from Cornerstone shareholders.
If this merger is rejected then its 4p here we come. Its our only way out of our current finance death spiral.
As noble as it is to turn.our noses up at what we think is beneath us, beggars can't be choosers. We've paddled our own canoe long enough and ended up up you know what creek.
Others may want to go down with the ship like gentlemen, but most of want what's possible not what we thought we'd get 5 years ago. This is the only way forward that doesn't end in bankruptcy. The merger is the price the big boys have set. If we don't pay that price now they will pick Solg up.off the floor for pennies.
Again Jezzoo you are making me laugh.
You say BHP may buy it. But what are you referring to.
A box of doughnuts, or something else.
Plenty of twists and turns ahead .... for instance... what if NCM or BHP make CGP shareholders a better offer? Would anyone have the b@lls to buy CGP based on SOLG's $3.5m clause? Well, if they can stump up the $400m+ of costs... the answer would be yes.
Whoever bags CGP, also bags 6.7% of SOLG shares.
One last thought, this deal potentially brings in the blocking shareholding that we needed for low balls. So post the deal CGP have 20% and BHP and NCM drop to just over 10.3% each?? Now, post that deal, it's feasible to do an equity raise with BHP and NCM and they might only get back to the 12 or 13% range at best. Now that's how you keep some protection and ensure you troublesome shareholders don't bag more % holdings.
Lots of 'power' moves around with CGP holdings. By securing their 6.7% of SOLG and the 15% ENSA, it puts SOLG in the driving seat again.
It's a cracking deal as it should ensure anyone making a bid has to do so on a proper valuation basis. Between Mather and CGP plus other possible friendlies, they have about 45%+. That's really powerful.
Yes BNC you've stumbled on a conundrum...
I believe there is no way this deal would get approval from SOLG shareholders and...
There is an AGM in early December at which, irrepsective of this deal, all of the Directors can be voted out, so...
This smacks of desperation by both Boards because their interests are inextricably entwined by the market's massive undervaluation of each...
CGP's SP was 7.20 in 2019...6.20 in 2020...and 5.00 in April this year (last night 2.63 a 2.1/2 year low...
SOLG's SP was 42p in 2019...42p in 2020 and 40p in April 2022...
So at face value this looks like a merger from weakness for both parties...
So this cannot be the whole story...watch this space...
Oh and we’ll give you some cash too!!!
Winner
Hi Qali....
"Great job DC now you can stick 2 fingers up to the soothsayers."
The definition of a soothsayer is a person who is able to predict the future.
Did you mean naysayers...?
Another player-major investor coming in here is just going to cause further friction with the key players we already have .
ITS A MESS
when too many people put their fingers in the pie , the pie becomes unattractive (messy) to eat or taste ...
I think this is what has happened here and the sooner a decent offer comes from the Big Guns the better.
Q …. I. Reckon this has Nick’s fingerprints all over it
I have, you missed it Tootsie.
Well cheers Gazebo
What a cracking deal
Wait - didn’t we have CGP over a barrel…..?
Next year on completion of Bankable Feasabilty we could have picked em off for peanuts a merry couple o million $$$
But no we don’t wanna do that on no we wanna give em a chunk of our entire fkin Co not just Cascabel/Ensa part including all our other prospects……..
Akin to someone who can’t make their payments in their HP agreement for their KA and instead of taking possession of the car we’ve given them access to our own freaking Merc….
Cracking deal
No wonder CGP and their thieving associates are delighted……
Well done Gazebo!!!!!
Bet Nick’s delighted with this fk up!!!!!
Beggars belief
Ain’t voting any of this board of directors back in………should get rid of the lot
Fk wits
Bn.c
Everyone was wanting to pin him to the wall and have his guts for garters as recently as last week.
I think the guys got balls to stand up to the pressures and pull off a deal like this one.
It removes the fly in the ointment CGP and opens up the for sale sign now.
Fully expect to see a flow of news following this deal.
Great job DC now you can stick 2 fingers up to the soothsayers.
meaning we would be left with a very small Market cap... but fully funded... with no guarantee of any big finds. Tier ones are as rare as Rocking horse crap.. so the chances of finding more are tiny.. regardless of what the overly optimistic would have you believe
Wrong Jezzoo just went out for lunch with friends.
So share your wisdom.
When you said BHP will buy it, you neglected to say what they were going to buy.
Was it a box of doughnuts or something else, please enlighten us.
If Cascabel was sold, its safe to assume a large portion would be retained as funding for other tenements, and a reasonable percentage would be special divi.... but there are 2 problems with that.. Mather mentioned on multiple occasions there were heavy tax implications, in the small print of the legals, re any sell off of Cascabel... and the Market currently prescribes Sod all to our other regional exploration..
what Mr Production's nemesis will be called this weekend ?
I hope he doesn't get the same vicious reaction I got this morning.
Like a knocking on a car window with a territorial Jack Russell Terrier in residence.
A funny thing though, when many other posters had the same view as me,
he buggered off into the car footwell to sulk !
I wonder if he's still laughing. Be careful not to let rage cloud your judgement folks.
It's not a good look.
Give this, say, a timeline of a year:
We merge with Cornerstone.
The dust settles.
We sell Cascabel alone to one of the big boys.
What price would we likely get for Cascabel?
Where would the cash go - into SOLGs coffers or straight to us in the form of a special dividend?
Once that is done, with Cascabel offloaded and the cash from the sale safely in our pockets, what value would SOLG have in terms of MCAP?
This is certainly what I'd like to see - Casabel sold, the cash going straight into our pockets (not held by SOLG as it may be discounted in the share price if all they are going to do is spend it eventually) and a leaner meaner SOLG emerging from the other site, exploring and developing our other concessions, fully cashed up and reverting to the explore--prove up-sell model of the early days. That way, we get some reward but the story can continue
Tsx opens around about then I think novice a run into close would be very good considering there maybe further news over weekend or Monday imho lets see
rcgl...see my post below...this is at least 8% below the offer that was thrown out in 2020...