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According to slug a huge uncross incoming
Novice...you used to be 55p by Friday...
How is the SP going to go 'onwards and upwards' when all operations have been suspended except the DFS preparation timed for December 2023 at the earliest and the only news we can currently expect is the result of the AGM and the approval of the merger...
Unless of course theres a bid...
You actually have to get on a plane if you're really going skiing...
Lol
Hooray!
19 people have voted Yes so far to the post below...
Thats quite a lot wouldn't you agree Stackhigh?
"So...with Bozi, Quady and others advancing different scenarios that don't realise as much monetisation or as early as a takeover battle...
Please "Recommend" this post is you would acceot a takeover offer at a reasonable price now...say 80p..."
Agree wholeheartedly mr Magoo see you in a few years time :))
ONWARDS AND UPWARDS!!!
stackhigh, you were not filtered yet but I am correcting my oversight now.
Mine is not desperation. I have a decent holding but that's only a portion of my liquid wealth and I can afford to wait for years, if needed. The assets are there and it's very likely that I'll make a tidy profit. I may be wrong but I trust the norwegians, the chinese, BHP, NCM and the board more than an anonymous poster.
On 28 April 2021 SOLG did a placing of 208.2 million shares at 25.5p...
"The Placing Price represents a discount of approximately 11.1 per cent. to the closing mid-market price per share of 28.7 pence on 27 April 2021."
Were Solgold desperate at that time Orthern...?
GGP recently issued shares at 8.2p...
"The Issue Price represents a discount of approximately 15.5 per cent. to the closing mid-market share price per Ordinary Share on 23 August 2022"
I said recent Orthern...
BHP actually made a bid for the whole company having acquired guyana Goldfields stake and got the new shares as a consolation orize...
"there is a very real chance". That's a fact. It doesn't contain a percentage certainty, because then it would be a guess. But stating there is a chance this won't get taken over is a fact based on probability. Just as you can't say, factually, that there is 100% certainty that there will be a bidding war. Okay? :)
Try not to get too worked up: share your opinions as opinions, like you practiced the other day with your 'IMHO' post, and everyone can enjoy themselves :)
If an entity wants to take a significant position in a company, that they cannot realistically get by buying through the market, they should be paying a premium.
You only sell something at a discount if your trying to offload it or are getting desperate
Jiangxi actually paid nearer 21p if you account for the known fact that they will be diluted post CGP merger and that fact was known. RCGL highlighted this a few days ago.
Post merger Jiangxi will drop to around 4.9% I think.
So the placing at 17p (it wasn't 16p) or split hairs and go for 16.8p but forex is swing around the weaker dollar blah blah blah...
The fact is had they taken 21p placing on Dec 9th, that soon feels like a 17p placing post merger dilution on Jan 9th assuming CGP meeting gets the requisite approvals.
Why do you need a stronger argument if you have already made up your mind? It's not in my interests to change your mind. Be happy with your theory Red :)
They may well try to buy solg or an asset in a few years time. Just no time soon, I wouldn't have thought.
BHP paid 45p when we where nowhere near that.. in the 20s I think.
"there is a very real chance that we won't be 'off to the races', and that no one will try to buy any part of solg for the next two years."
How is that "factual information" rather than just your opinion...?
Orthern it was a discount of only 2% to the price the day before...which is pretty good...
Please give me a recent example of a premium being paid for a placing...?
Have you considered the possibility that SOLG CHOSE to sell to Jiangxi to create tension with BHP, NCM and anyone else who might be interetested...?
So its cheap...we agree on that...
But unless theres a bidding war there is no sensible reason why they would buy this.
Supposing the SP were to recover to 35p? (I can't see that as there is no substance to go for other than very strong bid rumours or an actual bid...they would make a profit of $30 million...
Based on their 2021 Revenues they can earn that in 24 Minutes...
I'm afraid I need a much stronger argument than that...
Just to balance Magoo (I assume I'm filtered, fingers crossed!), there is a very real chance that we won't be 'off to the races', and that no one will try to buy any part of solg for the next two years. Wouldn't want anyone confusing Magoo's optimism (and desperation, if they are 'fully loaded') for factual information :)
Koh,
It could be suggested he sale of CGPs 6.7% of Solg shares would be a big catalyst… but the other side of the coin to that would be, why would someone pay circa 24p as an example, for the exact same thing the Chinese just paid 16p for?
The 16p strike price for the Chinese is why I am assuming their was no other majors wanting a position..
there's not much happening yet I see tens of messages per hour by the usual 4-5 people. Not sure what they can add to our common knowledge at this point so I filtered them out. Less noise and distraction from what really matters.
What matters is that we have a unique asset (Alpala), surrounded by several extremely promising licences. Each of them is potentially worth a multiple of the current market cap. Alpala alone is a monster and several MAJOR investors have a slice of the pie. Folks in the board have also a considerable holding and the company has made it clear that it's looking at ways to optimise value for us shareholders. We won't be mining our copper. There will be a fierce battle and at the end the SP will reflect the value of the assets. Not expecting to see a bit landing tomorrow or next week, but once we have completed the merger and the review is out, we are off to the races. I topped up last week at 16.5 and today at 17. I am fully loaded and i can wait for as long as it takes. Top up, sit back and relax guys.
Apart from a surprise, is there an event /news that will come that will shift our stagnant share price other than the cornerstone meeting / outcome on the 9 th Jan
Well said DBW at 12:40.
At this price we all feel there should be significant upside no matter which avenue we take.
Jiangxi clearly agree. That doesn't mean they won't involve themselves in a transaction should the opportunity arise.
Red- it was cheap. Paying less than half of what BHP did for something they may want to mine in a few years time? No brainer.
Doesn't mean they are about to start a bidding war to try and buy the whole thing though. That's a leap too far, surely.
Or find a similar asset of their own. Don't forget that possibility, Fort. Maybe that's why BHP have set up their own exploration company in Ecuador. Massively underdeveloped compared to some other countries you mention. No rush to mine just yet- have a dig around first. That's their plan: they've been clear enough about that.
Ortherncopper,
I don't see that way at all. I think Cascabel is rare and super majors are desperate for resources and opportunities. Countries like Chile, Peru, Venezuela, Brazil and so on are all volatile and majors are looking elsewhere. Russia was once an outlet or opportunity for some of them and that door is closed now. Opportunities like this do not come along very often. Ecuador has it's own issues, I'm not going ignore that factor, but compared to most of South America, it's a new green grassroots opportunity for a super major and concessions likely.
If I were you, I would concentrate on the asset and ignore all the canoe, paddle and other stuff. It's the asset that commands the price. If a buyer wants it, then they'll have to pay for it.