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So we have all the makings of the classic playbook on selling a company...
1. Majority of directros have been booted.
2. Company looks helpless and vulnerable
3. Cash pile running out
4. Shareholders spitting bullets
5. AGM beckons
6. Sentiment rock bottom
7. Share price on the floor
8. Months and months of due dliligence already done so buyers primed
9. Future copper prices and gold prices looking strong here and on forecasts
10. Market about to turn from bears to bulls on future interest rate cuts and inflation falling
Time for a bid then!
Any entity buying SOLG will simply rip the PFS up and start over based on their own affordability/profit plans. Ecuador gov will sign anything it takes to see multi billion investment and names like BHP, Rio or FMG involved.
So now is the time to bid... management are deluded when they say things like SOLG are in best shape they have ever been. Quite the opposite, thanks to them, SOLG is in the worst position it has been for over 7 years. That's a fact.
I can tell you've never sold a company! I'm afraid your post is completely wrong.
fort the share price is in the worst shape it’s been in for years and that can be stated as fact …… as for the company we don’t really know and there in lies the problem.
i suspect there are very few shares in pi’s hands these days and as cov says our vote will make **** all difference
It seems to me this is the ideal time for a prospective bidder...
Not wait for a more viable PFS3...
I dont know what else the company can do to support the price if nobody is buying...
DBW, don't under estimate the pi vote and the smaller fund holders as the article in AFR shows, lots of disgruntled investors about. But what I do agree with is that the register has certainly swung in favour of CGP gang post merger. BHP and Newmont dropped from combined 27% to 20.6% combined. CGP and Mather et al nearing the 33% mark.
On that basis, the pi's hold the swing vote. Of course other players like Chinese, Norges and Bank of Singapore (who's that then??) will make a difference.
The key difference between this year and last year is the swing on super majors holdings vs CGP/Mather et all. It used to be more like 27% super majors and about 15% CGP and Mather et al.
Ultimately, for a CEO or any director... the votes for need to be up near the 60% to 70% level. Anything less and they are usually toast. Scott can't continue as CEO if he loses his director role. Simply can't happen as it's against shareholders wishes. But he could go back to doing the day to day on the ground stuff which lets face it... is all he's doing now. He's not doing any CEO stuff... he's just a puppet in there for Bob and Maxit. I think we all know that now.
They could announce a conclusion to the SR and that is... Alpala is for sale and they are in extended talks with a number of parties.
What you reckon that would do for 'supporting the share price'??
Only trouble is... I think a few of them want some of those 157m CGP shares in their back pocket on the cheap before they go releasing any SR outcome news. But that's just my cynical view.
Will they deliver SR outcome before AGM to save their bacon?
Totally agree re the CGP shares …… this is why I’ve always said the current share price may suit certain parties.
Fort, I certainly agree with your first point. Given that everyone knows it's for sale, the normal argument of keeping the powder dry is irrelevant. In the corporate finance world most advisors and their clients like to keep things as close to their chest as possible i.e avoid any public mention of a sale. The exception has always been Rothschild's, who tend to leak news of a sale to the Sunday press. Their view is that it gets things moving, whereas their competitors just regard it as lazy and potentially damaging.
Addicknt,
Giving the SR a decent 6months+ is fine but by that time the market, you and I all knew what the likely scenario's were. So to then leave it in the background like an unanswered question just undermines the process and makes management look like they are clueless of options are limited. Conversely, had they announced the outcome of the SR and they stated they were opening the doors to discussions with possible buyers and partners etc etc 6 months ago... then we'd likely be in similar position whereby shareprice under pressure based on no offers made. Condor Gold did a similar thing a while back... launched an SR... decided full sale was right move and have been trying to conclude it or get an offer tabled ever since. It feels weak once you've laid your cards down and then not much happens. But same could be said of the SR as every cat and dog knows it doesn't take 12 months to do an SR.
Swings and roundabouts... but the weakness with Bob's plan of late is lack of catalysts. He should have had a few regionals being drilled alongside ENSA sale process. Minor cash burn but maximum interest and always a chance of hitting something large!
On a side note, it's worthy of a mention but politics does come into it and we know that Ecuador does not like hearing about 'their' rocks and soil being sold without their say so. If as an article suggested sometime ago, there has been a pledge made by some high up individuals to the chinese in exchange for xy and z... then you can understand why SOLG's hands might be tied. But there comes a time when action is required and even Ecuadorian gov must see that a monetisation event is best for all involved as it will get Alpala on path to production.
Or an even better time to do another streaming deal...though probably after BHP and Newmont have voted....
That's better...s/o bought 600k at 7.1p...
PI or closing short...?
52 week low. 7.0p.
Should have waited RK, 6p before dark I think.
It just seems so simple to me...
Get past the AGM...
Director buys
Streaming deal
PFS3
If they get that far before the bidding kicks off...
Hi Jezzoo
If only it was that simple...
I never expect to buy at the bottom...
Or sell at the top...
Except when theres a successful takeover...
But even then I sell for cash before the shares are suspended...
Take the long view...
And there's the 6's !!!
Funny enough though someone is very happy to take 500,000 shares of my pot should I want to relinquish. now why would that be ???🤷♂️
Colonel drake has spoken so much cap over the last few years its laughable.
"Funny enough though someone is very happy to take 500,000 shares of my pot should I want to relinquish. now why would that be ???🤷♂️"
That's the trouble when you're a proven liar and lie about absolutely everything nobody believes a word you say. .
Last year he could not comprehend that maxit et al. weren't in charge of when we sold. Kept saying it was completely up to solgold when we sold, and that we could trigger a bidding war like that seen at FMG.
Man is either a loon, a simpleton, or both.
Oops and as if by magic tiny turd should appear, something must really be eating them up inside 🤣🤣🤣
Come on tiny at least take a tenner for rent, this is embarrassing buddy 💋
Well you've lied about your average novice as its at 10pence according to your post.
Just pointing out your lies.
😉
Lots of green lines just appeared so think you are right
On a side note... a good friend of mine has suggested that there might a good reason why the Chinese have not bought more shares in open market at these low prices... have you guess what that reason is yet??
It's coming...
Shut up drake you moron.
You've wrote so much trash here over the years and have been spectacularly wrong by all accounts. Not one thing have you called right.
Arguably one of the most deluded posters here.
At least i didn't unwittingly make a fool of myself on GST claiming to own 41,000,000 shares you 🤡
Carry on the rope is starting to get shorter buddy 💋