Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Orthen first time I've ever aggreed with you
Far more shares had been gifted, and will continue to be gifted if the company pressed on with DFS and vague ideas of development and so on. A sale may or may not occur, but there will soon be no more of this will we, or won't we nonsense that has plagued the company for two years with BHP quite happy to see ever more dilution to help them make up their mind. As long as it is not them being diluted.
Copperpot take a back seat like you always say and pop up when we close to news nothing to read here ATM as you always said
Fair assumption I’d say Orthern
Well it’s clear that we will not see any appreciation in share price based on drilling results or advancement of studies (PFS MRE) for some time now if ever again.
It’s just down to a straight takeover battle now and the playing field has been greatly levelled recently.
This will benefit us all when it comes to the final deal being struck
Anon sorting the books out ready
Tos see you done your research again ....that extra year has taught you alot I guess
I’m going to guess the other 25 million went to Valuestone or split between Sangha and friends..
The more shares we gift away at this level, or the more future royalties we sell, in order to create “competitive tension” the more we erode the value of our share in any future bid or mine. And.... the bit that really sticks in my craw.... the longer it takes, the more of this money being raised is used to pay the salaries of people who are creating absolutely no additional value to the already known assets of the company. But hey ho, why not get another set of consultant “experts” in at exorbitant cost to advise us how to do our jobs.
Or certainty that they could get it at a price they would be happy with. If someone told BHP they could have Cascabel for 16p a share today guaranteed, they wouldn't need more than a day to say yes.
You are not getting it. The reason why a bid never came in was because BHP and NCM were always felt in control. They could bide their time and dilute every else into oblivion, and gain control of the company without paying the takeover premium like Rio Tinto did to Ivanhoe Mines at Oyu Tolgoi. There has to be competitive tension, and that was always missing. Please don't suggest that potential competitors could have bought shares on the open market to compete.
Exactly Luke...credible bidders do their own DD ore and post bid...
ToS, had you made that comment before the merger was announced I would have agreed with you wholeheartedly. But life has changed quite remarkably in the past month or so and the direction of travel is now being dictated by people who are anything but directionless.
Thanks guys. I go and enjoy the rest of my day
Oh dear ToS...you have so missed the point...
Why is a M&A specialist advising SOLG AND CGP.....?
The PFS was rigorous enough for the majors to build on and perform their own DFS.
The bit about the shambles was irony copperpot...
Match your 2 million an add 400k...
Delighted to know you're still in, so why foresee a long haul to production that clearly isnt going to happen unless you swap your shares for the successful bidder...
SP holding up despite the dilution...
I wonder if its Jiangxi or Mitsui who have been buying in the market....
If the latter we have at least three prospective bidders including BHP...
No Sid..dont worry, we wont get that far...
Another day in Solg, yet another dilution, further eroding the value of our stake. No further exploration news, no details on the long forgotten mine design or build, and no sign of a bid.
Clueless, directionless, and treating shareholders like mugs.
I've explained that anon...
They dont want to sell CGPs stake pre merger because it reduces CGPs ultimate gain so they issue new shares now with the intention of redeeming the CGP stake post merger.
The issue says to the market "were fully funded fir the foreseeable with the Osisko money.
This issuance (with none to BHP) dilutes them further, pusses them off even more and shouts "out up or shut up"!
Depending on how quickly the bidding starts we wont need the money and the successful bidder can sort it out.
Finally, the CGP shares and the new 180 million can all be voted for the AGM resolutions and to keep Nick in place.
Why are Elodie and Kevin leaving? Because they have no long term role...
Sid, that depends upon who you listen to. Irwin/Sangha think it isn't - others seem to think it's critical. My view is that the majors already know enough, particularly given the level of dd that will have been conducted by them over recent years.
RK, this isn't a shambles, like you like to portray. It's bid business in work!
I'm not out, I still hold over 2 million shares at a average of 4.6p. I've invested in this mind boggling opportunity, unlike you, I'm not a trader!
I am a novice in this area so just like to know how important a DFS is in a major's decision making when it comes to bid for a project like this (are they waiting for DFS before they start bidding)?
It's a poorly written RNS and unclear. It's still non dilutive (apart from 25m shares) if they cancel the 6.7% shares post merger. My guess is they are keeping their option open until after the AGM resolutions pass or fail etc. If they get award to issue another 1.6bln as per motions, then I suspect they will cancel the 6.7% shares which would effectively make today's placing non dilutive.
It's unclear at this stage whether CGP will have 20% voting power at AGM as merger not completed. Based on that, it's going to be a bit like last years AGM as the ownership structure has moved but not swung that dramatically. BHP and NCM will not be diluted down to 10% levels if the merger is not complete by Dec 22nd.
Looks to me like the TSX regulators are taking their time and that's a headache for SOLG and CGP.
Ask yourself a simple question...why is this apparent shambles happening with clever people like Sangha, Irwin, Sandeep Singh, Nick, Chalmandy involved unless theres an alternative explanation...
BID(S)