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Another large UT share dump after the close today, def someone selling large tranches into demand
ZOROS,85p range within range of coatings ,but where's potential assets ?,include them zoros then £1.32 range achievable imho
For those who didn;t see this on the 10th:
"...Valuation: GBp85/sh; FS due H2 CY 2023
We leave our SOTP valuation unchanged at 85p/share as we await completion of
the CGP deal and publication of the updated PFS. Alpala currently 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 long-term 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...."
Z
Bozi that's not the situation.
Each one that want's a sale is not the same company, so they are competing against each other, they are not working in concert.
That's the power of the diverse book.
So to answer your question we are more diverse as the majority don't want BHP or any other entity to acquire Solgold.
They all want their share.
More or less diverse?
Quady, consider this please if you would. Rough figures for illustrative purposes.
Say before the SOLG CGP merger we have 1000 SOLG shareholders and 200 CGP shareholders.
So post merger we have 1200 SOLG shareholders.
Now say before the merger, 50% of SOLG wants to sell and 50% wants to hold for production.
Now let's consider that 80% of CGP wants to sell and 20% wants to hold for production.
Is the book more of less diverse?
When Solg/CGP each partly owned ENSA, Ecuadorian tax rules made purchase inefficient for any buyer - with the CGP purchase that has been tidied up ENSA, this makes a sale more likely than was the previous case -I believe the intention is to sell this off and probably CGP do as well
Jezzoo why do you think going to production means serious dilution .
Like you serious question.
Correction if BHP had acquired CGP
I'm afraid to say ,Q, your thinking is getting incredibly muddled.
I assume you mean bhp and cgp?
I’d agree on that.
"...if BHP had acquired BHP..." erm?
Because if BHP had acquired BHP the book would have been less diverse, they would have 20% of Solgold.
NM had this in mind.
Ignore them addick, they make it up as they go along... this will be sold when the decision has been made and agreed between all relevant parties or it will go to production if the circumstances are not favourable to the relevant suitors. If you believe in SolGold then either way we'll all benefit. There might be 5 or 6 years difference depending on the out come but ultimately nobody knows. and if you're a trader good luck ;))
Good grief addicknt quite the opposite just read what I said.
A takeover of Solgold is unlikely how many times do I have to say it.
And then you continue to misquote me.
It's the ENSA part that has changed.
Why would bhp acquiring it be so bad if they paid a fair price that the shareholders agreed to ?
The majority would prefer a fair price as opposed to more dilution going to production, especially the PI’s I think.
A serious question Quady, I’d be interested to know
Add … seems to be about the size of it
Q, let me see if I've got this right.
The diverse book always meant we would never be taken over, but now it's become more diverse a takeover is more likely?
Okay Bozi a fair question.
I always thought that the diverse book made purchasing Solgold almost impossible.
With us acquiring CGP two things have changed.
First the book has become more diverse and BHP and NCM will be diluted.
Second ENSA is now 100% owned Solgold.
So I still believe that the purchase of Solgold is extremely unlikely.
But where my position has changed is because of the change of ENSA we can go two ways.
This can be mean we use it to raise funding on better terms.
Or we can put ENSA into a wrapper and treat it separately.
Hence JV or sell it.
I have always said I will reassess my position should the book change.
To my mind it's changed for the better.
After all many on here said BHP would acquire it and that would not be good.
Quady - but surely you realise that people are finding it hard to reconcile your reassessment given your previous refusal to budge even in the slightest.
You're allowed to change your mind by the way but you've got to say "I previously thought there was no alternative to A but with X,Y and Z I have to now admit that B is a possibility/probability/certainty.
Why does a consolidation of Cascabel swing your opinion so much?
Oh I understand your reassessment alright !
And that's exactly what you are so scared of.
Being found out !
And people are starting to see the real you.
Tick Tock !
Is this company going to be sold off? As I read the post this morning Solgold/Cornerstone are looking for a partner, to me it smacks of a JV, just my take on DC’s wording.
Checked Solgold again, and The Australian, 16 hrs ago, 13.10.22 has a new preamble:
"Solgold's boss Darren Cuzzubbo told shareholders overnight on Wed, that MITSUI was ONE of a NUMBER of potential PARTNERS."
Atb
No DBW that's not what I have said.
Read my posting history.
Good grief Jezzoo why not read my posts and at least understand my reassessment.
You continue to make yourself look unintelligent.
Listen it’s simple as you’ve said I have been 100% wrong in saying this will be sold …. So far …. I agree
You have been 100% right in saying it’ll go to production… so far ….again Ill agree
When it’s sold you therefore have to be 100% wrong it’s that simple