Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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This one rcgl2 ?
https://integraresources.com/site/assets/files/2612/the_white_paper_-_george_salamis_vuse_final.pdf
addicknt,
It started with NCM as you know and NCM were trying to get SOLG on the cheap like they did with GGP. NM and Maxit brought BHP in to help counter NCM and put them back in their box. Remember, Maxit sold out to BHP at 25p.
NCM and BHP live in a bubble where they think it's perfectly good business to give a junior miner £100m in cash for an extra 10% slice each. Both knew SOLG would require another $300m in cash when they took the 45p placing. What they didn't see was the Franco deal coming. From that point onwards, it was clear that SOLG were not interested in heavy dilution for cash.
That's when it all changed. Now the end product of the last 4 years of finance is that we have several names in the hat when it comes to being potential interested parties for Alpala post strategic review.
1. BHP
2. NCM
3. Chinese
On top of this we might have Mitsui in the mix too. And then there's all those in the shadows that have yet to show their hand... Codelco, Fortescue, Lundin, Wyloo, Gina R, Anglo American, Rio, Barrick and a few others.
Having 3 names as shareholders is a bit like a bouncer having your name on the door. You're in. Whether that has an advantage in bidding... we will soon find out but the introduction of the Chinese will have BHP more hacked off than any royalty deal!!! And not a word from them at all. What do BHP next?? Hold out for best price like the rest of us and force the Chinese to pay top dollar?? Because the reality is, if the Chinese want it then there's not much BHP can do to stop them getting it, geo politics aside of course.
Totally agree Nick....
Remember the quote...... "Monster in the making"
Look over your shoulder in 5-10 years time, there will one huge one, with its offspring popping up in and around Ecuador.
Time for the ramper (RK) to post his endless trade waffle......I'm outa here.
The Ecuadorian government want big names at the party, guess who's writing the invites!
Having given some thought to the issues discussed here re voting at upcoming AGM, I’ve decided I will support all the resolutions.
As a long standing holder here I share the frustrations being voiced.
But, in my opinion we have to support the BOD as whatever has happened in the past (the responsibility for much of which no doubt lies with recently departed Execs/ Board members) the only way we get value here is to stick with the remaining Board and recently appointed Directors.
We can’t trust BHP/NCM nor can we give complete control to CGP/ Maxit.
Retail shareholder support is vital because BHP and NCM must be prevented from creeping control attempts.
If any of current BOD get removed it just leaves room for BHP and NCM nominees to be appointed and have a lot more influence which is potentially disastrous.
“Strategic review “ can only mean “get taken over at a high price”. Talk of selling the asset, spin outs or part of assets would be simply to explore ways of getting more value into shareholders hands. Im sure that the majors will want the whole lot so I think this will probably motivate them into action. We all want a bid at a high price and the merger with CGP shows that is what is being worked towards.
It is very very important that resolutions pass at this meeting. Nick and Sangha have pulled off takeovers in the past, so Im confident it'll happen again. There is no reason why they'd go cheaply.
I can sense real danger of BHP/ NCM gaining control if we fail to back the Board at this time.
Please support all resolutions, and please change your instructions if you have voted against before it is too late.
rcgl, yes, I remember that article and the reference to the advantages of having a major onboard.
In our case, the downside has outweighed the upside.
copper, yes, they have been outplayed...so far. But I don't think their hands are tied...they have a great deal of cash at their disposal.
They've been backed into a corner and are angry. How they react is going to be fascinating.
Has anyone got the link to that article that's a guide for junior miners trying to sell their resources to majors? It was written by a guy who had been a CEO. It was a list of 10 or so points and was quite pertinent to Solg's position.
Iirc one of the things he said was always get a major onboard if you can, although they could cause you some issues it will benefit your project to have a major name on board. I think he also said expect shenanigans and dirty dealing, you have to rise above it and stay strong and you will get a deal in the end, or words to that effect.
Morning Addicknt, they're like a cork in the stream at the moment. Outplayed in every dept.
Treading water.....so to speak.
They're just shareholders like the rest of us.
What can they do? Their hands are well and truly tied.
I'd say...they have to go with the flow or get out!
Or they could play ball, and be part of a large consortium!
copper, that was my point. But the question is; how do they react to the new situation?
BHP are screwed......and they know it. They've cooked their goose I'm afraid!
There's no big sell off either....mark my words!
1) Accepting their money was a significant strategic error and we've suffered the consequences ever since. But I do understand why it was done.
2) Their own strategy soon became apparent and NM tried to kick back. This cost him his job.
3) The boardroom unrest can be linked to the competing demands of trying to satisfy all shareholders simultaneously. It cannot be done and we have paid a very heavy price as a result.
3) BHP now face the prospect of constant dilution, or the real possibility of losing the asset completely.
4) It's inevitable they will vote against most if not all, Resolutions at the AGM. If they succeed in marshalling sufficient votes from NCM etc, there's a chance we could see further disruption. Hence my call yesterday to ignore the corporate governance code...a simply majority will suffice.
So, what do BHP do? Throw-in the towel; continue to disrupt from the sidelines, or turn aggressive? Do they wait for someone else to show their colours, or do they lead the charge? In my opinion, we won't see any action until the New Year. They will want to see how the AGM turns out and how many allies they can count on...they will not get a better opportunity to gauge support for their cause.
Personally, having come this far, I don't see them throwing-in the towel, and surely the tension must come to a head soon?
Thanks DBW, we can breathe a sigh of relief.
No, it's just the way someone who did not go to school in England sometimes writes English.
Is it an isotope of oxygen?
Genuine question, what's oxigen?
In 30 years of investing, I've never before come across investors who actively don't want good news which will make them money to come along.
Strange one that.
Still, if you give them oxigen, they breathe
Interesting,
Lots of posters very knowledgeable about solg, with lots of information from various timeliness, who have never posted before, now springing up all over the place. Posting non stop.
Someone, somewhere must be worried about something.
Thanks bubble- as inconsequential as most of us had assumed. Almost like it wasn't worth spamming the board with. Thanks! :)
Lots of posters said yesterday that there would be news today. There wasn't. More rampy speculation in the echo chamber, I guess. When will these posters learn? They won't. They'll just keep spouting about an imminent bid, in a futile attempt to... Hang on ... I don't actually know why they do it. Pleasure? Who knows?
DOW Jones has entered a technical bull market. Fed has signalled 'slower for longer' suggesting rates hikes will be moderate going forwards.
Last DOW was in bull market, SOLG was trading in the high 20's to mid 30's.
It's a mystery why SOLG are half the price seen just half a year ago. The company has more cash, larger stake in ENSA coming, Alpala further derisked, Porvenir more advanced. And... a new shareholder on the books which just happens to be bigger and more powerful than BHP.
18p??? Farrrrquin jokers are the spivs. Sort it out.
Finished flat stackhigh
Bit rampy there, bubble? What are the signs it looks good? Just the tsx price? May we'll go up, but could go down, and red's hilarious (though tedious) 'quoting' of mm's appetite has proved itself to be completely inconsequential today. Is that your basis? Just interested
Red ,looking good for tomorrow