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Lets not forget about the little teaser that was tweeted out yesterday afternoon and retweeted by Irwin. Mitsui around the table in Ecuador. Mmmm. Then today (with some haste I guess) we have the CGP merger deal announced. Again, Irwin clearly happy. So after all these quiet months and some type of gagging order on Mather and Irwin, it now seems the shackles are off and it's in everyones interests to SUPPORT Solg. SOLG are now the sole gravy train. It's the vehicle for making all those involved rich. It's because of this that I think Mather and Irwin have no intention of diluting further. No intention of doing any further exploration. I think all are now firmly concentrating on getting SOLG / Assets monetised. Long time coming but today was the beginning of the long awaited and overdue 'return on investment' for shareholders.
SOLG may never need to tap the market again. The strategic review might well confirm that farm outs, JV's and asset sales are the best way forwards. A change from the older style equity raises. At end of the day, what's the point in further dilution in raising $50m or so if you are hellbent on selling the main asset?? Mitsui add an interesting dynamic and I think we'll hear about how and when they get involved shortly. And don't worry about upsetting BHP and co.... I think that's clear now. It's put up or shut up. And if they want SOLG's assets then they will need to move fast otherwise this cake is going to be chopped up and served to someone else entirely. It's game on and in chess terms, It's BHP that have the clock running down, not SOLG.
BHP......Mmmm
Really..........I'm interested Fort
I too think BHP is interested in................................>IT<
from the RNS "The Transaction will require approval by two-thirds of the votes cast by the shareholders of Cornerstone and a majority of the votes cast by disinterested shareholders at a special meeting of Cornerstone shareholders expected to be held in the fourth quarter of 2022." END.
My guess is they'll want this sewn up pronto and if 'they' intend more news that needs a vote at AGM, then it needs to happen in next 3 to 4 weeks. I'd say they will go for 21days from next week.
"Upon closing of the Transaction, the SolGold board of directors will be comprised of up to ten individuals with Cornerstone entitled to nominate two directors." END
And based on the above, it would look like the BoD's 'balance' has been sorted with 'friendlies' in full control.
And doesn't look like they are in any rush to appoint a new CFO. Mmm... wonder why that is!
There's no way Irwin and CGP would sign up to this deal unless they had been assured by Mather that the end game is to get a great sale done. Whether ENSA or the entire lot... we will see.
all the excitement on here and the share price drops over 2 %. Does the market know something we don't ?
Agreed
No...people will have been desperate to buy this morning after the Mitsui tweet...they may have looked at the RNS and immediately decided it was good news...pile in...don't miss out...
Then there's a hiatus...the autobots get going...the SP starts to drop and people think "was I overhasty?"
Then the fall accelerates and the FOMOs turn into FOLOs...the MMs hit stop losses...bang the price down further and suddenly you're 20% down from the days high, going into the weekend...
I'm more optimistic than I was even last night and have built us back to almost full capacity again..
Now let the party begin...this thing has serious legs...
Look at that after hours bargain of 775363 at 18.172...
Loads of people were selling this afternoon but someone(s) were buying...
Have a good weekend all and sleep easy...
Irwin tweeted this earlier...he’s been vocal today about the merger . Nice to see him coming out of his shell...
“BHP in control? Check your numbers. Give me an example of a cheap takeover of a world class mineral deposit. Doesn’t happen.”
Thread- https://twitter.com/bigdude6669/status/1578260589037912064?s=21
(Apologies if already posted)
Good post redknight1, and may I ay, sounding like your old self.
That's how I see yesterday too - a bit of over excitement from a few (particularly over on AVDN) who thought it'd be an instant jump to 28p, then a lot of selling at 21p, then a lot - an awful lot - of ATs yesterday steadily walking the price down.
But some big buyers in there getting bargains.
I note too - on this board and ADVN - that posters have crawled out of the woodwork to explain to us that we are now at "market value".
This merger is a huge development. As things start to move, expect some foul balls and dirty tricks, misinformation and manipulation - particularly in the form of SOLG "experts" who have never bothered to comment before.
There is a narrative being built - "SOLG is now at market value even with a sale of Cascabel so you might as well sell up now and go away".
You heard it here first.
Please... keep it to the point...
https://www.scribbr.com/academic-essay/length
some comments here are longer than solg site explorations ....