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This is from the company website dated yesterday, no mention of Fidelity, Bank of Singapore or Bell Potter:
As at 6 July 2020, the Company is aware of the following significant shareholdings outside the Directors’
interests above:
Number of % of Issued
Significant Shareholder Shares Capital
BHP Billiton Holdings Ltd 282,721,826 13.64%
Newcrest International Pty Ltd 281,216,471 13.57%
DGR Global Ltd 204,151,800 9.85%
Cornerstone Capital Resources 157,100,000 7.58%
Tenstar Trading Limited 119,485,083 5.77%
BlackRock, Inc 108,607,081 5.24%
This share is so undervalued , sub 20p what a bargain .
LOL, someone else who believes the prices are affected by the discussions on these boards.... it's more the other way friend discussions are affected by the prices... prices up discussions cool, prices down all the uninvested come on board and enjoy winding the GH here!!!
Don't think it will fall that low but I've got a buy order in for 18p...
God these post are so negative, carry on like this and we will be at 11p again.
CD, in the original timeline they were targetting delivery of the BFS/DFS at the end of 2020. That has now slipped by 6 months or so to end H2 2021/H3 2021. However, they have stated that they are working on other work streams in parallel (conditional funding, permitting, fiscal negotiations with gov), so if all goes to plan a FID could be made rapidly upon BFS completion and delay kept to a minimum...lots of ifs and buts there. This is a large project so delays are almost inevitable.
So, supposition then, which is fair enough - we're all engaged in the same process at the moment.
Just to add to what Iceberg has said, one of the main reasons this would take longer if sold, is all the wrangling Solgold did on the environmental front, so many undertakings were given by the company, and if you remember the problems we had acquiring the water permits, it wasn't good enough to give an undertaking, Solgold had to change the way they worked as a company. BHP would also be required to change how they run as an operation, no mean feat.
Newcrest have been vocal that they want more drilling, another mre they think the core needs better definition and they have their plate full at the moment. BHP newcrest would want their own designs changes etc. Which will add time. Biggerr companies also take longer to do things .
BHP has a bad operator image in the region
Why were would Ecuador want a major that they can't control in anyway who is ready with international arbitration et c who would be a political headache in control of the biggest amount of licenses and the biggest mine?
BHP aren't explorers so they will sit on the licenses. Bhp AA Rio et c are famous for sitting on productive licenses until it suits them to develop.
They don't have a good reputation for employing locals.
The list is very big.
Solg are perfect for them and if they can raise the funds to get this to production would be their preferred choice by a country mile
Surely the major BHP have the financial resources and the technical expertise and the existing relationships to get Alpala into production sooner and more certainly than an explorer / developer like Solgold?
"I'm firmly of the opinion that Equador would not want BHP... etc"
Why not? And how do you know BHP/NCM would push back production to 2028 "at the earliest"?
Good afternoon Iceberg, is it possible that these 3 companies are part of Citi's defence. One of the ways, I felt Citi might do this was to add Solgold to high risk funds, so that they could be component parts of pensions, unit trusts, ETC.
Bell potter are one of the biggest holders of PIs in Australia. Big in the UK as well. Fidelity et c these are not individual people o r single companies . It's like HL in this country. They won't vote on block for anything.r
The market screened figures are highly inaccurate as well, known for double counting..i.e if CGP have their shares in a fidelity crest account then those shares 're the list would show up as CGP and fidelity as they have No way of knowing.
're BHP. I am firmly of the strongest opinion that Ecuador would not want BHP being the largest owner of licenses in ecuador along with the biggest potential mines...
They want this in production yesterday and newcrest or BHP would push it back to 2028 at the earliest imo. Also all the other reasons mentioned.
Red knight.... if we don’t get to October, and a bid comes in.... BHP are released. Gloves are off. Agree with most of your analysis except that bit... to me, that’s the ideal scenario! (But would prefer some decent drill results so the SP starting position was nearer 40p).
I can now see a rationale for NM doing this placing and extending it to $41 million:
1 BHP and Newcrest were excluded, so if either is a potential bidder, it reduces their holdings to sub 13%
2 Looking at those Market Screener figures, I cannot believe Fidelity, Bell Potter and Bank of Singapore are nominee holders for PIs in this case... I think it is much more likely that these are on behalf of three individual prospective bidders, or maybe even one, but spread around...
Hence the urgency for NM to get a load of drilling done on prospects potentially 'bigger than Alpala'....
I don't believe there is a remote hope of SOLG taking this to production. Its now about getting the highest exit price and as somebody else has said, SOLG looks like a 'sitting duck' right now.
What we urgently need is the FN signoff (and ideally indications of up to $1 billion offtake funding); and
A steady flow of drill results...
Otherwise I would have to revise my takeout price PRE October down to 40/45p...
A hostile bidder only needs 50% acceptances to make an offer unconditional. BHP+Newcrest+Fidelity+Bell Potter+CGP+Bank of Singapore adds up to 61%; without Newcrest its 48%.
So ironically we may now need to count on getting to October and BHP making a bid to get decent value.
Otherwise it could come down to how much profit these 'outside' holders are prepared to take...for a few weeks work, they may be happy to sell at 30p or so...
So we really need an auction and lets hope those three 'rogue' holdings are three different predators...
AIMHO as usual...