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UNCOOKED ALERT: SolGold said too ...
SolGold, a London and Toronto-listed copper and gold mining development group, is at the centre of takeover rumours.
People following the situation have heard SolGold, which is developing copper and gold projects in Ecuador, has attracted takeover interest from a company backed by a Chinese group.
Some people following the situation suggested that bidder is CRCC-Tongguan, a joint venture between the Tongling Nonferrous Metals Group Holdings Co. Ltd and China Railway Construction Corporation Limited.
CRCC-Tongguan already has copper and gold mining projects in Ecuador.
People following the situation said several other parties may also be pursuing SolGold.
These people following the situation have heard talk Vale, the Brazilian mining giant, and another China-backed firm, possibly Jiangxi Copper, are the suitors involved a strategic review process.
There is also talk of mystery north American bidder eyeing SolGold, said these people following the situation.
Last year SolGold announced a merger with Cornerstone Capital Resources to get 100pc of control of the Cascabel project in Ecuador.
To be clear, this story is UNCOOKED. I have pasted the definitions of UNCOOKED below in case you don't recall their definitions.
Novice been paying writers to try and save his LSE membership? XD
Can't see this on the website Slug, is this a new alert?
Might just be me being a muppet as I'm on my 3rd espresso martini :-/
Not on Twitter either . Anyone know where it came from ?
Betaville as the title suggests.
Nice to see a rise, but 20p+ by tomorrow close is still hilarious fantasy. Let's try an build support in the 17/18 range, rather than down in 16, then we can talk further rises. High 20s a distant but pleasant memory!
I also cannot see this on the betaville site. Anyone got a direct link?
1st post on here as I am new to this game, but, if SOLG was to be bought out what do people think the shareprice would land at? And does it automatically sell at that price for you, or would I need to take action? Thanks
This is funny. What is CRCC-Tongguan's market cap? Can't be much if last dec 70% was only worth 8bn yen. That makes the whole thing less than £1.4bn by my calculations. They won't be at the bidding war long! Lol, this is just a collection of company names picked off Wikipedia
Don't worry figes, it won't sell anytime soon... Or should that be 'novice'? You getting in early before your departure?
AgAr you are more of a prize t-w-a-t than I ever imagined, your desperation and vindictiveness is palpable... if it doesn't hit twenty I wont post here anymore if it does then adios the 3 amigos, I still think you are the favourites but after todays move could be interesting
A post a minute from AgArAc. rubbishing the rumour.
Whether there is any truth in this Supposed Betaville article looks like that owe AgArAc a new pair of pants as he just filled his.
Friday could be fun - "it's Friday , I'm in Love"
Skint
Just want rid of this tool. Tomorrow might be interesting, but not 20p interesting. Sorry love.
Figes, bubble reckoned £1.32....do you remember him?
Actual news would please me as a LTH, skint. Rubbish like this helps no one. Have you found the MCap of CRCC-Tongguan yet? Is it enough for a cash-rich TO of solg? There is your answer, i fear.
I'm with AgArCu - unless the story can be proven to be from betaville - a trivial task given their article headlines are public,, then this is fake
.. or behind a subscription which looks to be the case. C
Big volume suggests that more than pi's sniffing around the rumours.
There were always going to be rumours... that's how it works.
Ecuador CGS mining conference starts on Monday.... mmmm
A rush to get a deal done before Politics / elections get underway and muddy the waters. Sign and sealed before Lasso leaves?? Who knows. But Tier1 assets do not gather dust on shelves.
Seems remarkably specific. Mind you, we've been here before once or twice. In any event, I bought another 200k earlier today and I hope I haven't got it wrong...again!
How many times. Fort, your line about 'tier 1' is ridiculous. We own shares in solg, a small exploration company, not the minerals in the ground. Big copper-gold deposits in other countries do tend to get mined eventually, yes, but drawing a straight line between cascabel mineral levels and a big payout for solg investors is an over simplification even by your standards. Got an agenda much?!
CRCC on their own have a market cap' of 16 billion USD. Pretty weighty for one half of the J.V.
I think we may have ourselves a game !
Bubble come back, £1.32 is on it's way, LOL!!!!
I think there's some real credibility to this especially when it comes to 'risk' in Ecuador. I did say a while ago that the Chinese have already been producing in Ecuador through two government changes (since 2019) and with the FTD history deal signed recently, they clearly have a different view on Ecuador to some of the more negative plaudits out there.
This bit does stick out...
"CRCC-Tongguan already has copper and gold mining projects in Ecuador. " END.
There is a clear opportunity for those that are prepared to take the risk on Ecuador to pitch a bid at a time when likes of BHP might prefer to see political bias unfold or situations calm down etc.
In summary... now really is the time to make a move on SOLG as counter offers might be more subdued with political shenanigans underway.
galapagos... your insights most welcome. I have a sneaky feeling that a sale of 'ENSA only' might be the play here with newco taking up all the other licences or a selection and then off we go exploring again but possibly with partners involved this tome and reduced interests blocks. New website due by end of the month according to Scott I believe. I wonder if that's going to involve the new proposed structure and plan forwards. Seems odd to update a website when there's not much to say that's different from last version... unless the changes are quite significant????
It's not unusual to see multiple chinese companies involved. Weird really as you'd think they are all essentially under one communist brand!