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that last year the board withdrew the resolutions on pre-emptive rights as it was obvious they were never going to hit the high threshold required to pass the resolutions. So forward a year and have they withdrawn the same resolutions? NO! Hmmm now what might that mean either in terms of the original threshold to pass these resolutions or perhaps they will just go with a simple 50+ for vote? Hey if they want to move the goalposts to stop the likes of BHP gaining control of Solg I'm all for that and if that means scr£w corporate governance then so let it be!
FTJNY see my previous post. Disapplying preemption rights can only be approved by special resolution which requires 75% shareholder approval. It's prescribed in the Companies Act and it's not possible for Solg to change that.
DGR RNS regards SOLD AGM.
“Strong shareholder voting of approximately 1.9 billion shares out of the issued capital of 2.3 billion voted. All of the Directors were returned with increased margins, endorsing the strategy of maintaining independence from BHP and Newcrest, (SolGolds two largest shareholders who opposed the re-election of directors and SolGolds standard UK financing resolutions), cutting costs and focussing on adding value to shareholders through exploration and discovery. The result assists in maintaining the premium for control of SolGold for all shareholders benefit. SolGold is currently well funded having recently raised US$86m and remains independent with one of the world’s most impressive undeveloped copper gold projects at Cascabel in Northern Ecuador, in a macro economic environment that will in DGRs view see a very substantial paradigm shift in copper demand and prices, further enhancing the value of Cascabel and SolGold generally.”
Don’t sell cheap
*SOLG
Solgold is worth fighting over.
Well done Bob, all Directors returned with increased margins..
https://twitter.com/dgrglobal/status/1606136741382889474?s=46&t=-ST5vR6ZzAHi_o2a2hvFkw
Nick Mather.. Founder and Managing Director..
Sorry, my mistake..that’s his position on the bottom of the DGR release, haven’t woken up properly … yet..
Thank heavens for that!
It's going to be interesting to see how BHP/NCM react - if they react at all.
The Board are now free to push ahead with the SR and to deliver shareholder value in 2023. Well done lads!
Indeed Add
Scaremongering can stop now.
The last couple of months have been all about clearing out and laying new foundations. Now let’s move forward, get the merger done and leave it to the likes of Sangha to get a deal done in the new year.
Incidentally, it's pretty clear Mr Mather has no doubts whatsoever about what's coming ..."adding value through exploration and discovery.The result assists in maintaining the premium for control of Solgold".
I think we can assume Mather knows what he's talking about and as far as I can see there's no mention of production. Admittedly, it's taken him a while to come round to this way of thinking, but better late than never.
It was never in doubt for the reason I mentioned. The Chinese, CGP and Norges voting weights made it a shoe in which is precisely why they did the Chinese placing before the AGM. All these measures taken by the 'new' SOLG are to protect shareholders from likes of BHP and NCM.
Some serious flappers on these BB's these days and I'm beginning to think the scaremongering and unwarranted stressing is deliberate. Those involved should sort it out, it's embarrassing.
Well done for your bullishness now Fort.
I didn't see you calling it a shoo-in before DGR told you the outcome. Plank.
Given the percentages involved, our board must now thank the dissenting shareholders for expressing their opinion and roundly ignore them. This is no time to follow the guidance of the Code.
They you go novice chill now my friend and just for you onwards and upwards gla ...55p by Friday!!!!:):):):)
Never a doubt Bubble, just forcing some idiot poster to waste their life watching when I post lolzzz.
#rentfree ;))
Have a fantastic Xmas one and all, yes even that bell end ;oxxx
Indeed novice , positive end now time to put up and shut up ,for sale not production exactly what NM said in 2013 ... prove it up sell it on to the benefit of all shareholders he is true to his word ,they tried to get rid of him ,well stuff you bod the boss is back!!,have a merry Xmas and new year novice ,mad Friday at noon lol!!!:):)
Sure you did novice, you were wrong again ;)
We all know you sold out and were talking it down...
What on earth are some on about when they say no mention of production.
This is the AGM.
Their was no mention of us being bid for or up for sale either.
This is what the strategic review is about.
It's how we can best monetise Alpala.
We just require a bit more patience.
Q, I wasn't referring to the AGM, instead I was was quoting NM and his announcement.
Moving on, the market clearly doesn't like the fact BHP/NCM have had their wings clipped which, to my way of thinking is perverse.
The market sees we have no business plan beyond hoping Maxit deliver a deal.. no plans beyond hoping to monetise Cascabel.
Add,
The market aren’t reacting to anything imo, it’s just the usual play of making money when they think there is a sniff of weakness, trying to top up their pots for Christmas, normally see a sell off as many don’t like holding over holiday periods, if this holds up then to me it is a positive.
Atb
Addicknt are you on about NM saying Solgolds shares will be sold as a representative of DGR.
Because if so, that is entirely consistent with Solgold taking this to production under a JV.
If however he has made the announcement as a Solgold NED, then I grant you that is entirely different.
Which one is it please.