Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It's clear: complete the merger, once and for all, and prospective bidders that are lined up (tick) will proceed with no further delays full stop. Not long......lets not complicate it!
GLA
Who here is the modestly self named "So-I-Was-Right" on Twitter?
NP …. Just a thought , wonder if they are trying to place the extra shares prior to merger completion?
Can’t see why they would but I’ve never been able to second guess this company
It's a good question DinnerMoney, but I think that Tandy is part Cascabel so maybe that's the plan. We await the strategic review which some on here think is a smoke screen, the same as they think everything else is a smoke screen getting us to a bid. I have been listening to that for a decade and it's wrong headed thinking every time.
Also seanhunter don't believe the people on here that now say production takes many years. You get revenue at various stages of production once we start extracting ore. Yes a full block cave operation is years away, but even after that is concluded we would continue to develop as at every stage we decide what is economic to mine. Also once above ground infrastructure is built it makes other nearby sites commercially viable as infrastructure can be shared.
Lastly l mentioned you could obtain revenue from extracting ore. Solgold have always looked at an early opencut to advance Alpala, so the great uninformed on here don't understand we don't need to raise the whole 2.9 billion as we could raise a percentage of that and become revenue producing to complete the work.
Fair enough Quady.
I have been very harsh and impatient with you in the past, but I am not happy with the way Quibbles was forced off this board and the part I played in it. I don't want anyone treated with disrespect, and I'm not here to fight with anyone and certainly not bully anyone.
You and i have diametrically opposite views on the future of SLG, but I think at least 2023 will see the argument settled one way or the other. i can certainly be patient and wait to see how things pan out.
Till then, Im sure you and i can converse like decent people who have different opinions, and i apologise for some of the things I've said to you recently in my more angry moments.
I am sorry for the last remark seanhunter, but I am of no real opinion, I just look at the facts and follow the evidence.
The point here is if we were looking at a bid in the near future, then no way would we have taken another royalty at 0.6% as this would have made us less attractive to bid for.
We took it because it is part of funding required for the advancement of Cascabel which is what the strategic review is for.
Quady, a fair enough point until the last sentence when you simply can't help trying to belittle who you are speaking to.
Why can't you be more like Quibbles? He believed in exactly what you do for this company but he managed to make his points without attacking people or being rude.
In saying that, maybe he and you are correct - maybe we re just swallowing up CGP in order to neutralise them before pushing on with production. It is a fiendish masterplan I never envisaged, but if Nick really wants to sell 10 years down the line for £5 rather than the 68p I reckon we may get this year, he is certainly the man to go for it, because SOLG is still his baby.
That type of investment would indeed be new to me, but I'd only be in it 2 minutes before I took the last of my money elsewhere.
Just had a peek addicknt.... ooooft... carnage.
Wouldn't dream of popping in to gloat but hopefully a taste of his own medicine is just what he needed.
sean, following what's happened over on his favourite share, I suspect MR is feeling a tad sheepish.
RK, yes they do count towards the total issued share capital. But in the event of a bid/sale, or any other form of corporate action, they are effectively null and void.
If they are issued to a third party they immediately regain their rights, so your second point is correct.
Seanhunter have you ever been involved with a company that has no money but has resources. I have many times over within the oil and gas sector.
When after many years if it proceeds to production which their are many ways of financing.
The price goes up massively unless we give the whole thing away. Let's await the outcome of the strategic review.
Not saying we won't have some way to go, but these things take time.
I am guessing this type of investment is new to you.
Correct. But surely they remain part of the issued share capital, of which anyone would need 50% to gain control...?
Also if they were resold, the new holders would have voting rights, so the Board could sell them to 'friendly' holders...or Jiangxi...
Relax Sean! Step back and see this share from a helicopter view.
Things will work out OK in the end!
Just not sure where and when "that end is", LOL!
From Investopedia (quote):
"Based on an overall assessment of its quality, value and momentum SolGold is currently classified as a Sucker Stock. The classification is based on a composite score that examines a wide range of fundamental and technical measures. Stock are classified on the the following spectrum: Super Stocks, High Flyers, Contrarians, Turnarounds, Neutral, Value Traps, Momentum Traps, Falling Stars, and Sucker Stocks."
So, I'm waiting for a bid that may never come. Quady and his lot are wanting to enter a finance death spiral by "advancing" Cascabel. Muppets like MassiveRay come to gawp and laugh at us everytime the share price falls.
There are moments when it's easy to doubt why you are here.
Yet BHP and others have thrown millions at this company. Are they suckers too? Is Warren Irwin a sucker? Is nick Mather a sucker? Are Matsui suckers?
Be nice to have a crystal ball to see how this turns out, rather than suffer death by a thousand cuts every day, with low life laughing on the sidelines. But at this point it's probably a matter of faith.
I just believe we can't have come all this way to not have a happy ending.
Year of the rabbit red
RK, sorry to disagree, but they don't. Similarly, they have no right to a dividend.In fact they lose all rights normally attached to ordinary shares.
Looks like it Bubble....eveybody is working frantically behind the scenes, but as we have seen before, SOLG always take longer than expected...are there any French tanslators on here...I could volunteer the Missus...she's fluent...could be a nice little earner on top of her 800k...
In theory they do, but SOLG own them, so either way they're not voting for production any time soon...
However, for as long as they sit in Treasury, the Board (Mather, Scott, etc) can decide who gets them and at what price...or even to redeem them (however that would increase BHP/NCM proportions again)...
February red
IMO, until the merger is complete, we have something of a false market...
CGP down 3% on almost zero volume last night, probably being marked in line with the SOLG price, down 1% on 40k...
CGP sterling equivalent in SOLG terms is 16; SOLG converts to 16.5, so they're convergent and it looks like market makers don't want to see CGP stock...unsurprisingly
Clearly nobody is arbitraging or selling in Canada.
And while we won't see the true situation until the extra 506 million are in circulation, why would anyone sell when 99.98% voted to accept the merger...
Furthermore, the SOLG offering surely has to be more attractive than CGP's, especially with a stake in 100% of ENSA, a proven Tier 1, a possible Tier 1 and multiple other prospects, added to Bramadero etc with a much more realistic prospect of development without persistent cash calls...
However...to get such a vote there must be either or both a big concentration of CGP holders 'in the know' about Bob's M&A intentions...or a goodly proportion of the latter and a substantial and growing number of believers in the prospect of a takeover battle (like here)...
You can be pretty sure that there will be no Quady's in the new investors...why jump out of the frying pan into the fire...
So in conclusion, while there may be some initial weakness in the SP, Bob has a new army of supporters ready to vote for a takeover by the highest bidder, with a far more realistic opportunity for monetisation and profit than CGP, who in recent years had to sell SOLG shares to keep the lights on; had already racked up at least $50/60m in contingent liability for Cascabel; and with no chance of financing Bramadero without a penal J/V...
AIMO as usual
Quite right addicknt, I made a mistake, whilst shares are held in treasury voting rights are I believe suspended.
Q, I may be wrong but I don't think treasury shares have voting rights.
Same man spotted in local chippie,
Come on guys, is it not blindingly obvious what's going on?
Bid first thing
I agree addicknt shares in treasury to be used as voting rights after strategic review, which if favourable to the market, we will be able to sell at a higher price to advance Cascabel in whatever way the strategic review recommends.