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BHP's team are completing their due diligence on their OZL takeover. They are not the sort of company that will rush into making a bid because Jiangxi has taken a 6% stake. You think this is a Sunday morning property auction? Or that cascabel is a must have for them? Everything depends on price. They will be forced into action only when they are forced to, and the decision whether or not to bid will soon be forced upon them. Until then, why on earth would they bid if they believed they could control the direction of the company from within, sharing the costs with everyone else until they were good and ready, and believed Cascabel completely derisked before taking over. Just look at Turquiose Hill Resources. None of this is to say a bid is imminent from either the Chinese, or BHP. All recent actions from the new management since is about ending the status quo with BHP/NCM, which was being beholden to them in decision making, especially with funding. And it is when that happens that all interested parties can make a move, or be forced to decide (ie BHP). While I would prefer an outright sale of the company, or Cascabel, I am prepared for the possibility that the company eventually enters into a 50:50 JV with one or more Chinese entities (they have recently seemed to favour these arrangements rather than outright control) because these have actually worked out very well for several other juniors. There's a good reason why Robert Friedland went for it with his Kamoa Kakula deposit instead of turning to the 'majors', and they have certainly done well. If nothing else, the Chinese bring efficiency , reliable funding and operational excellence in getting operations up and running. Hardly my desired outcome, but it is a possibility. But first of all, BHP simply cannot be allowed to increase its influence over the company because their desired outcome for the company is diametrically opposed to that of most shareholders (certainly if measured by number of shareholders rather than shareholdings). At the end of the day, if they decide to takeover, they will be offering X amount of dollars and they couldn't care less whether it divided by 3bn shares or 20bn, but it matters a great deal to most of the rest of us who are invested more in Solgold than in BHP.
What on earth are you on about SharketMare.
Been out with my old company for a Christmas do.
Well done pinooooooooot
Welcome to the club
Far happier this time around
Did you see the director buys today btw?
Thats puzzling Steve...my post for you has disappeared...glad you got to read it...
I wonder if Slug replied to it and the string got removed...?
Hear ! hear !
Once again Quady Houdini disappears into the ether.
He would have made a cracking minister in Bojo's cabinet. Never admits to being wrong, never apologises, never answers a question with a straight bat and has absolutely no idea what's going on.
First exploitation should read exploration.
My take on this.... fwiw.... it’s great news. The fact that AHEAD of the exploitation agreement extension (end of next year) they intend to negotiate an exploitation agreement. If successful, an exploitation agreement is for 25 years, and can be extended for a further 25 years. That is, to my mind, something that will provide a much needed boost to the SP in the absence of a bid. If I’m a potential bidder, I.e. a major mining business, I want to negotiate that license myself. Something obvious, but I feel constantly needs pointing out on here..... we do not, never have, and never will, own the minerals we have discovered. They will always be owned by the Ecuadorean state, on behalf of the people. We merely own the license which is our main asset. If (big if) we can get an exploitation license in place prior to any bid, I think we are in a much, much stronger position.
Ok, as promised yesterday, below is the response I received to my query over the current position of the exploration license at Cascabel. Fair play to them for the prompt reply. Seems I was wrong in assuming evaluation started at PEA, but my point around the time constraints remains valid. Here’s the reply in full....
Thanks you for reaching out. You're correct, the timeline consists of 4+4+2: 4 years early exploration, 4 years advanced exploration and 2 years economic evaluation that can extend another 2 years. At Cascabel we currently have an Exploration Investment Protection Agreement (as announced on 23 November 2021) that covers the period through to end-2023. Ahead of that time the Company will be negotiating an exploitation agreement that goes beyond then, so this is the timeline you should be looking at. As announced in the Company Update on 22 November 2022, we will continue to de-risk the Cascabel project.
Kind regards.
Thank you red very concise and you make it clear in your mind we have nothing to fear and decided to sell my GGP shares at a 12% loss and add here as I see it as a stronger buy
Received my proxy form last week from Halifax Share Dealing which I completed and posted on Saturday 10th December. Just spoke with Halifax & they still haven't received my letter. Deadline to have that letter back to them is this Friday. The current mail strike means my proxy letter will not arrive by the deadline. However, I was able to provide my voting instructions over the phone which was duly recorded. Given the importance of this AGM, folks should not rely on the mail to get their votes in, but should use the phone to get your votes recorded.
Fort, if you want to see the full details of the various discussions which took place and who was involved, have a read of the CGP circular. It's all there.
Fort …. I’d say you are right but merger been in the making for way longer than 6 months …. Irwin went quiet about a year ago as well
I think the reality is, Maxit and their buddies have inside knowledge and have done so (apparently) since July when CGP and SOLG apparently agreed to Merge. Have a look at the sp back in July and then watch the fall from there on. Markets were flapping with inflation concerns too so not all driven by sellers.
But pretty clear to me that some knew what was being planned long ago and sold in the summer or shorted. Now with sp seemingly being controlled sub 19p, they can mop up loose stock or just place another 5% with someone at 17p and take 50m shares+ in next round. I doubt you'll see Maxits name on it though.... probably got to XIB or some new entity.
I said a while ago that 'nests will be feathered' ahead of a sale. When you have money men involved in selling an asset or company and a market that quite frankly doesn't believe they can do it.... it presents opportunities that are just too good to miss for those in the know.
I'm still scratching my head on how SOLG's leading advisor 'Maxit' can openly buy stock and sort a royalty deal that rewards them nicely.
Can't see Citi group acting like that can you?
So you remember the stuff about the 0.5% short yesterday?
It was actually 12.38 million shares, shorted by XIB Asset Management (a 'merger-arbitrageur')
I was idly perusing yesterday's trades on TMX...110,000 SOLG shares were 'bought' by 'Haywood Securities', almost all at 29c (i.e. 17.98)...and guess what? Haywood's address is...yes...181 Bay Street Toronto, samed address as XIB Asset Management...so were they closing their short?
Up she goes following tree shake
You-Know-Who, he who must not be named.
And guess who that someone was...?
Jezzoo, someone has been trying to disrupt the board today. Admin cleared up those messages rather quickly. Only thing left are these kind of messages.
pactrol,
I must have missed Bhp's recent actions... can you point me to the bit where they say they don't want SOLG or Alpala. Thanks.
I've seen a couple of posts like this today ?
Are you kidding SEAV...?
Worst possible scenario...
Anyhow the Chinese do joint ventures with other Chinese partners...
What we need is a bidding war to maximally monetise the assets
Ass hole.
Your comment Assume BHP want it. from their recent actions that doesn't appear to be the case
That BHP and NCM, could join forces with XJ and all 3 partners take over cascabel at an acceptable price? Surely a better outcome than the parties fighting over the asset, and we finally get closure?