Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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SolGold anticipates, similar to previous years, that select shareholders may continue to vote in a manner detrimental to other shareholders. For example, at the last three AGMs, such shareholders acting adverse to other shareholders voted against resolutions related to the disapplication of pre-emption rights, which hindered the Company's flexibility with respect to financing, which historically prevented SolGold from pursuing specific strategic initiatives that would have unlocked significant value for shareholders and counter a creeping takeover.
The SolGold Board of Directors UNANIMOUSLY RECOMMEND that shareholders VOTE FOR all resolutions at the upcoming AGM as put forth in the meeting materials for shareholders.
What would be a lot easier on PIs and simpletons like me, is a more explicitly spelled out description of the "specific strategic initiatives that would have unlocked significant value for shareholders and counter a creeping takeover."
Considering that the SR was as transparent as mud and no one officially attempted a creeping takeover, what did we miss?
On the basis that warm muddy black mudbaths can be a "good thing" (transparency etc...), I have voted to support the board with ALL resolutions! This will be a last time boys up there, LOL! GLA!!!
We would hate them to have difficulty to find finance - if it turns out they might need it in the future!!!! Plan B? or C?
I had got to the point I couldn’t bother to go and find a way of voting. My shareholding wouldn’t make a lot of difference.
But after this RNS I will now be bothered to vote against. After supporting them all this time the way they have treated shareholders with information this year and last No not anymore!!
Morning TI. I wondered the same thing. Could it be related to being able to issue large quantities of shares to a potential suitor so as to force through a takeover? Something not currently possible due to the pre-emption rights held by BHP and Newmont?
Hmmm
Really not happy to vote for this shower again.
But hate BHP dirty tricks too.
Please can people give a few points for or against for clarity.
"...and counter a creeping takeover". This is an interesting comment.
The shares are very illiquid and buying in the market simply isn't feasible, so are the Board concerned that a large block of shares would change hands? Could BHP be hoping to persuade Newmont to sell to them? If not, how else would it happen?
In any event, the danger has been spelt out and a vote against the Board seems pretty daft to me.
I think they mean that they ultimately have to offer BHP and the large shareholders first dibs on large amount of share issues. Hence... this give BHP opportunity to gain more equity.
But lets face it... if the BoD's did their jobs, then there wouldn't be any need for issuing equity.
There's no threat of a creeping takeover at all based on the book and CGP's near 30% stakes along with Mather.
We don't need a creeping takeover after the reverse takeover
Hahah ship. gold
Yes, a creeping takeover after a creepy takeover.
So we are set up now for the predictable...
1. AGM.. hope and pray (Twigger thrown under the bus has done nothing to please BHP by looks of things lol!)
2. PFS release before Feb 14th (anything later becomes 'mid' and not 'early'). Better get on and appoint an outside firm to approve it then!
3. Then we'll see the greed in full play with a nice little 157m share issue to ... mmm Bob and Maxit know someone interested already wink wink
4. Then after the usual regulators tick box period of not taking the pi55... we'll have around 6 weeks before an offer is dropped into our mai boxes.
That the gist of it or am I being too blunt?
Chinese clearly can't buy in open market as knee deep in NDA's and due diligence. That's an assumption by the way.
If they're afraid of a creeping takeover we should be heartened. At least it suggests someone's interested in the company!
Yep Add ….. every cloud
Am I the only PI that thinks it’s bizarre they are advising that I give them even more power to dilute me even more?
Why would anyone vote for that?