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Behind a paywall, but wholly predictable
https://www.theaustralian.com.au/business/mining-energy/newcrest-mining-slams-solgold-financing-deal/news-story/10efb3585fab757ff9591cb1b8991b64
And utterly graceless behaviour by Biswas who cant make his mind up...
First hes going to sell out...then he has a strategic review after which they decide to keep it as a 'strategic investment's since when they've done nothing...
They being reduced to 10% so its "make your mind up time" Sandeep...
I suspect hes starting the jungle drums for the AGM but it could be all done and dusted by then. If NCM dlnt put in a crushing bid themselves, he'll have to decide who to sell to...
This is how people used to getting their own way behave when that doesn't happen RK.
Biswas knows he has no interest bidding for the lot. It would stretch Newcrest at a time where they have replenished their inventory and are just working their way through the current gold price environment.
A matter of weeks before they cash their chips. To who and at what level will be the questions...
Indeed...
Though from memory, on this board, it was all going to be done and dusted by the last AGM. Then by Q2. Then after the summer.... You get the point. Just hope no novice investor uses this board as a source of research: they'd be very confused by the total absence of any hint of a sale!
Stackhigh, that's a reasonable observation, but the fact is we've never engaged in a Strategic Review before. Presumably you can recognise the significance?
Stackhigh- make no mistake, this BB has been a bit premature pushing for a sale.
However, all signs now point to this. SOLG has gone back on it's olive branch of Q1 2021 where it promised to work collaboratively with it's major shareholders by doing this CGP/maxit brokered royalty. They've now cut ties with their main supporters over the last 5 years.
SolGold has now taken it's gloves off. Come and get us if you want us.
Bozi, indeed. We've pished on their chips several times now and if the new funding isn't yet another message to put up or shut up, I don't what else we can do to persuade them of the situation. It's rather difficult to see another rapprochement and hopefully the gloves will come off.
Many years of trading have taught me to believe it when I see it. Personally I don't see much motivation for a bid from anyone. BHP keen on Ecuador but happy to explore for now. They know there is metal in the hills, and they have the best geologists and concession analysts $100b can buy. Newcrest might well be out before the AGM. Other nation states, wealth funds etc can wait and see- the 'impending' copper crisis isn't here just yet. So I think Solgold will still be here next year, as will the people here saying it's just about to be snapped up. My opinion, of course, but I don't need it 'corrected' by anyone who spends a significant amount of time on here. All the best!
This was taken from newcrest mining tweet on the 3 rd nov
“Our investments are for the long-term and require a shared vision with the Ecuadorian government to succeed. Ecuador is one of the most under-explored and highly prospective gold copper regions in the Americas.” - Newcrest’s David Larenas at
@IMARC_Mining
#IMARC
Stackhigh, you're spot on with your 08.06 post. It's been groundhog day here for best part of 3yrs. And it will continue until the J/V is announced!
Good luck buddy.
What J/V?
Newcrests involvement in Havieron hasn't had a beneficial effect other than to give people a chance to get out in the 30s...or even the 20s...
Morning Copperpot it's been groundhog day for the last nine years. Ever since hole five. People on here have said Solgold will be sold and usually by the end of the month.
They are still saying it and they believe they are correct and the people who are saying I don't see it are wrong.
You really couldn't make it up.
That's not a bad mantra to live by Stackhigh but it's worth considering how SOLG are going to raise capital going forwards, assuming BHP are as disenchanted as Sandeep Biswas is.
Alienating those (relatively) early investors can work two ways. It either stifles our equity funding potential going forwards, which some would say is the plan anyway, or it gives their peers confidence to join the register, be that in an investment capacity or with aims to challenge the apple cart somewhere down the road.
It is now time to ask ourselves how much longer this can all go on for. One royalty deal was plucky. The second, particularly in the face of what happened in the aftermath of the 2020 AGM, will either prove a masterstroke or a hindrance if the strategic review doesn't deliver the value we all hope for.
Many "experts" got it wrong then on Monday after the RNS, with statements about getting back to mid 20's or even 30p by the end of the week lolzzz ;))
Just shows you how ridiculous all the posts are really.
ONWARDS & UPWARDS !!!
Hi Quady, yup....you're right buddy. Those 9yrs have flown by, it only seems like three ;-)
Right I'm off to the local man shed. I'm teaching some of the old boys how to make tea pot stands and towel rails....lol. It's always good craic!
Good luck matey.
Good luck to you as well Copperpot, as you have consistently called this right.
Yes, delighted I haven't been out of this for 6 years and counting, one day Rodders, one day... :))
I'd more concerned if NCM were happy with royalty deal lol! The fact that they are not happy comes as no surprise at all. If Biswas said something like... we offered SOLG cash and were willing to do it at 35p... blah blah... then I think I'd listen to him. But highly likely he was looking for a cheap placing and thought that a better idea. Well, that's what you get when you try and strong arm the little guys.
With CGP's 20% (post merger shares) NCM and BHP have no chance of instigating or carrying any weight at the upcoming AGM.
And that's the significant change since past AGM's. As Twigger correctly said last year (in his own words) put up or shut up.
Loven it!
Biswas won't be the CEO at NCM beyond the next 3 months...
He's opinion means niente
BBG - that may well be the case but I think you can be assured that NCMs opinion won't change with the CEO, and why should it?
Q, the only thing I can predict with absolute conviction is that when the Review leads to some form of corporate event, whatever shape it make take sale, production or otherwise, one group of people on here will take much delight in taking the pish out of the other.
Stackhigh
The rampers won’t like your post but there again they are way over leveraged and you are probably just investing……..huge difference
Redknight the biggest gambler on here…..it’s pretty sad when you have to resort to ramping, in your seventies, to make a crust……especially when you have been as good as Elon musk, bill gates, Jeff bezos etc at investing….albeit in his own little egotistical world he lives in
Addicknt that won't come from me.
Because I have always said production is the most likely outcome, I have never said it was a certainty.
Over the years I have been invested because I believe in the Solgold story.
If we are ever sold JV or anything else, then all I do is reassess the company I am now invested in.
Yes, I've noticed you've started hedging your bets...very sensible. On the other hand, I'm not very sensible and fully expect to be lambasted by the your fellow productionistas in the unlikely event that our team has got it wrong.