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Very interesting.
BHP recently had a metallurgical coal j/v with Mitsui.
https://www.mining.com/stanmore-coal-pays-mitsui-380m-for-full-control-of-queensland-coal-mines/
The plot thickens...
Paymaster,
I was just reading similar, I never had put these together before
https://skillings.net/stanmore-resources-will-acquire-bhp-mitsui-coals-80-percent-stake-in-queensland-coking-coal-mines/
Atb
Yes Mathers. Clearly the two of them know each other closely.
Another great find guys indeed they do know each other well
https://www.mitsui.com/cl/en/business/1217459_9591.html
Business Areas
Investments into copper and molybdenum world class mining assets.
Strategic Alliances with Important mining companies.
Marketing of copper concentrates, copper cathodes and Molybdenum concentrates.
Marketing of semi-finished steel products.
Main Businesses
In Mitsui Chile Mineral Resources, we are engaged in business operation aimed at securing mineral resources and the trading in the fields of Base Metals and other metals. We actively invest in mines with the aim of securing resources, in Chile our main focus is copper but we are not limited to it. For this reason, Mitsui Chile is enhancing the competitiveness of its existing businesses and promoting an active commitment to the acquisition of new mining assets. In trade, Mitsui Chile continuously works with local players as well as international mining houses operating in Chile to contribute to our partners as well as the enhancement of trade volume of Chile, our key trading goods include Copper concentrate, Copper Cathodes, Molybdenum concentrates and Abrasion Resistance Steel.
Chile / Collahuasi Copper Mine
(02:26)
As a summary, the mining investments where Mitsui has some level of participation in Chile includes:
Collahuasi, located in the I Region of Tarapacá and a total fine Copper production per year around 400ktpa.
Caserones, located in the III Region of Atacama and a total fine Copper production per year around 140ktpa (in construction).
AngloAmerican Sur, through JV with Codelco, located in the V Region of Valparaiso and RM Region of Santiago and a total fine Copper production per year around 400ktpa.
Pelambres, located in the IV Region of Coquimbo and a total fine Copper production per year around 350ktpa.
'promoting an active commitment to the acquisition of new mining assets'
A little more background reading on Mitsui.
https://www.mitsui.com/jp/en/release/2018/1225681_11215.html
How’s this for a link.
Mitsui has a finance partnership with Sumitomo Corporation. (I assume the same Mitsui organisation).
https://www.sumitomocorp.com/en/jp/news/release/2018/group/11030
Atsuhiro Kuroda (Sumitomo, Japan) attended a Cascabel tour in 2018
http://portergeo.com.au/tours/andeanporphyries2018/album/andeanporphyries2018photo22.asp
Presumably these are the blokes who Solg tweeted about the other day . Sending out a clue ?
https://twitter.com/solgold_plc/status/1575097412401922050?s=21
Sure looks like Japanese guys in the pics ;-)
Having read through today's posts, it looks like massive and strangely Bozi too are clearly not very happy about the news,
Fort, I've just seen another post in which you have a dig at me. You and I appear to agree on virtually everything and yet you still post snide comments.
Many people on here describe you as a total ****** and I'm beginning to see their point.
What news Monte?
All we have is a tweet off an unverified third party. As encouraging as we can take it on face value, what else are we supposed to draw from it?
Will it fill the SOLG coffers? Nope, we'll need a rather large bank transfer for that.
I'm happy enough. I have voiced my opinion in recent weeks and they have, by and large, been vindicated. Price went where i said it would g, and now it's for the management to deliver what they need to.
Everything else is an irrelevance.
Addicknt - he's the same with everyone who doesn't hold his uber positive and 'creative' views.
It's a badge of honour. He can't handle your ability to adjust as events unfold and your ability to deal with nuance where necessary.
It's all about the huge asset, NCM, BHP, NM, Norges gorges (i mean...)and BlackRock.
Hope you enjoyed lunch. That case of rather expensive red could be shimmying into view.
Bozi, sure sounds like your happy enough.
Blah blah blah need more money :-)
We still need money Smick, and quick-ish.
We need to see if anything materialises from today's development and we need to see what shape any proposal may take, eg funding for regionals.
So, nothing has changed in that regard.
Bozi, great lunch thanks. Old uni friends, one an ex- Goldman's partner, the other an ex-ceo of a Spanish bank. I have to say we were very gloomy about what's going on right now. Oh well, things seemed brighter after the fifth bottle.
We don't need money Bozi if we're going to be taken over...
There is no way SOLG survives as an independent after today...
Hypothesis 1
RNS shortly saying Mitsui has subscribed for shares at say 20p to raise $20m
Hypothesis 2
Mitsui buys CGP, thereby getting a 15% stake in Cascabel and a 7% stake in SOLG. CGP sale price would have to be $5/6 (but they turned that down from Nick)
Hypothesis 3
Mistui's interest flushes out a bid from BHP...Sumitomo counters...BHP or ANO ends up paying £1 to take out SOLG...
Red, who says we're being taken over?
I think there's every chance that Solg stays independent, but hey ho.
As for a vice minister opening his mouth, Truss totally mis-read the country and half of her MPs, but it didn't stop her, did it?
As for whoever said it's not a "proper, official" statement (or whatever the wording was, I doubt for one minute the chap was saying it for any effect. I believe it and Irwin obviously does too.
That said, to keep things real, the tweet only talked of "interest" in investing, so there actually could be nothing that comes of it. But the likes of Mitsui don't mess about.
But why would Mitsui % Co Ltd approach the Vice Minister of Mining direct, unless they had already approached Solgold and got short shrift...?
Is the Board really looking after our interests? they've done a shockingly bad job for the last two years or so...
Anon3 - why did Irwin tweet great news if he doesn’t think this is conducive of takeover? That’s what he wants. Weird to tweet great news if this is a route to maintaining independence.
Irwin clearly thinks it's news.
Obviously a promising development if you ask me.
These guys look to be sitting around a table in Equador with the minister talking about investing in Cascabel.
How can anyone put a negative spin on that? Maybe they have become institutionalised in fear following this company.
It's also great news, because it might mean an end to the lack of money that has consumed everyone for weeks?
Don't get me wrong, there may well be a takeover, but I don't believe Solg want that and it's not the only possible way forward.
It seems Mitsui are happy to take a slice and given the way things are going, they might want a fairly big fat one.
The only thing is, if Mitsui do say, buy Cornerstone, do NCM and BHP get offered a bigger chunk too. This would mean dilution but lots of funding.
There's still loads of routes we can take, imo.
Red, it may just be that Mitsui want incentives . Or just want to know how the land lies from the horse's mouth, in what the government is planning/thinking.
I'd be surprised if Solg gave then short shrift. Why would they, when they need funding?
The Japs are honourable, in my experience and while they want the best deals, they're not shysters who would stitch other companies up, imo.
Whether they are investing in us or taking over, either way it's a win win, rejoice dear fellow shareholders our day in the sun is a coming!