Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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RK,
Please see page 18 of the 30 June papers which covers any options DC has/had on leaving the Company. If there are any, he has 90 days from departure (or more if the Board allows it) to exercise them. I am not sure if he has any or not. I am also not sure about the details of his departure. Will he still be able to vest those 4 million shares on 1 Dec 2022? Please refer to my earlier post and the references to Company documents.
my spelling is atrocious
SM...are you honestly suggesting Irwin wouldn't have known about DCs departure before the RNS...?
rednight1,
How will this work in your opinion?
There are so many companies involved in this peice of the pie I have lost count.......
I doubt this will be over by year end .... As it's like a continues bad dream ......
How the f$$k did we get here with such a great asset -assets?
Nick must be in the hurt locker at the moment!
Addickt...their investments in SOLG are small change to them (£50m)...so why all this unnecessary public bleating ?
I believe he has to relinquich them on leaving but that date may be delayed if he was notionally on gardening leave. Then he could still make a decent turn when the takeover bids start coming...
Perhaps CGP and Mather were worried about Darryl running to his old company BHP and telling them what was going on in the strategic review. I'm not saying he did or would but if CGP and Mather don't want BHP to know their plans, then they might seek to boot any weak links on the board. Standard stuff really... you only want this you can trust at delicate times like these.
Remember, Darryl was brought in to please BHP and NCM post Mather being forced to step down. Post the royalty deal with Osisko, it's obvious that pleasing BHP and NCM is not a priority. And as mentioned earlier, he was 3 weeks away from passing his annual term which would have unlocked bonuses etc.
Not unsurprising as writing was on the wall the moment the strategy changed in the summer and CGP Merger deal became way forwards.
Josepi...the $50m plus whats in the coffers will take us till at least late 23...
But we won't be around much beyond end 2022...
Bring on the auction...
Welcome some genuine responses here and all opinions, trying to make some sense of todays news.
-Was CEO pushed or did he quit? Surely he would have 6 months notice at that level so can't see him quitting 4-5 months in his post.
-If pushed, why now? Makes no sense from a shareholder value perspective, adds nervousness and whilst saving nearly $100K / month, the royalty deal means there is no immediate short term funding problem.
-If takeover on the cards and this was by mutual consent, at what point do Solgold have to announce takeover talks happening? Thought if an offer was presented a RNS required immediately.
-What insider knowledge does Warren Irwin have to suggest in his latest tweet, unleashing value for Solgold shareholders will be "Sale of Solgold" https://twitter.com/bigdude6669/status/1590197591882416129 < twitter in case link doesn't work
My feelings are more and more this is being lined up for a sale, but for those that have more knowledge of mergers and acquisitions, surely more would be in the public domain if this was well underway, or is that what Warren Irwin hinting at?
Anyway, as somebody put on here, more questions than answers so would welcome thoughts?
Fort...they claimed they were worth between $12.50 and $20 in their last bid defence...
If you guys join the dots you'll see that we are getting ready to sell the whole business to the highest bidder. We needed to get the whole Cascabel, we needed some cash to take us through negotiations without anxiety and we don't need a CEO any more. Just top up and let Mather & C. do their job. Not sure if it is going to take 3, 6 or 9 months but I am pretty sure that SOLG will not be around at the end of 2023. Stop wasting time with aimless discussions and bickering on this page.
I took another slice today and will continue to add until the SP stays sub 20-25p.
GLA
"virtually distressed and will sell to the first bidder."....?
What tosh!
ColonelDrake don't you realise you cannot spend 20 million on drilling.
The 0.6% offtake agreement for 50 million can only be used to fund Alpala's DFS.
Why would anyone give us 50 million for Alpala and let us spend it on what we like.
Completely wrong again for the second time today.
SharketMare
Not all broken clocks are right twice a day. Some are missing key indicators... like hands!
In your case, I think you've been missing a lot. But no point in labouring the point or as you said to me.... no matter how many times I tell you Fort... no steam or royalty deals before DFS. Don't you listen stupid!!
No I don't listen. I think ahead instead.
Now we are clearly into the news period, I think we'll be getting RNS's aplenty. So what are we expecting...
1. PFS2.. will we see this in 2022 as previously guided by Darryl or will it 'strategically' be withheld??
2. Porvenir PE... as above
3. AGM Resolutions and date notice
4. CGP EGM to vote on merger deal
5. Outcome of the Strategic Review
6. Completion of the $50m funding royalty deal
7. CGP delisting from TSX and new shares issued
In absence of exploration works and assuming they down tools while discussions on sale commence, that $50m should last 12 months. If not, no big deal, as the 6.7% CGP stake could raise $50m+ with ave share price over last year.
So question is... is there any merit what-so-ever to spend $20m of that cash on fast tracking some holes on RIO (assuming permits granted) and see what can be delivered over the next 4 months+ while sale discussions commence with interested parties?? Personally I think it would be a good idea. One great hole and that could see some excitement and boost the end takeover price or asset or assets sale. I think that's Mather's love, so wonder whether CGP have agreed to that element as part of the deal... eg... get some drills going as sale process will take at least 6 months to complete in full.
Well you have all of us fooled Fort.
You said there would be a royalty, and there was, but not with a tier 1 company, with Maxit's mates, likely bungled in through the back door.
With this and today's news, can we assume that Darryl was leading the raise which would let BHP get a foot in the door at a cheap price. Mather and co stop it and then with CGP entering the fray turn to your royalty deal. Darryl sees this as the final stra and walks out in disgust? Plausible to me.
The problem is Fort, you got the royalty right but it was a needle in a rather large haystack of Fort calls and predictions. I fully respect your commitment to dine out on this win.
Colonel, even a stopped clock is right twice a day. Yesterday you were telling us that "BBs are a good indicator" of future share performance. You have previously claimed Blackrock are an investment bank when they are an asset manager, despite claiming to have worked in investment banking yourself. You repeatedly tell us that Blackrock buying stock in the 30s was a sign that the 'big boys' know something we don't and to expect a takeover "at least 50% above 35p", yet in the same breath you claim they're holding the price down at 16p (providing no justification as to why).
Honestly, you spin a good, bullish yarn, but anyone with half a brain can see you have just as little clue as the rest of us (and are more often wrong than right).
Thank you addicknt. Page 109 of the 2022 Annual Report covers the CEO Long Term Incentive. 10 million options to vest in tranches. Tranche 1: "The exercise price of the first tranche of 4 million options granted at £0.292, being the closing priceof an ordinary share on 30 June 2022. Options will vest on 1 December 2022 and expire on 1 December 2025."
With this in mind, it appears that DC will not be covered by the LTI. Page 18 of the 30 June EGM Meeting papers issued on 3 June 2022 does cover the scope for options to be exercised within 90 days(unless extended by the Board) but it appears DC will not be covered by this as he seems to have fallen short of the 1 December 2022 hurdle.
My take is that D.C came in thinking that BHP would take the lot and that he would then been given the job of running the whole show with a main board appointment. It then became clear that the deal stitched up with GGP was the start of selling out to anyone, leaving him exposed.
In my view an auction is coming, my guess in February but who knows when?
I am feeling positive - but then I have to be, I'm underwater!
Agreed killjoy, point made
Just don't understand the problem people have with Quady, he maybe a lone voice but at least he is consistent - unlike others on here.
Bozi is correct ColonelDrake is always commenting that BlackRock are manipulating Solgolds price.
He doesn't understand fund management and how their business works.
It's just the buying and selling of units in funds that contain Solgold.
I know exactly how BlackRock works. You'll be hearing from them soon Bozi based on recent volumes.
I told you Royalty deal would be done. You said no. I told you Darryl would go... you said... and I'm telling you Blackrock are unwinding their 25m trading instruments. You'll get a TR1 in good time when they are fully ready.
Oh... and let's not forget that I told the GGP BB that at 38p the stock was over priced and heading sub 9p.
I'll sell you a crystal ball for £5if you want want. Postage £6.
RN,
Ha ha what is that a real tweet? Irwin being so caring about pi’s makes you wonder if he’s a few steps closer to God or is it a financial thing
An Australian drama is unfolding, we all know they are crap at them
Bit rich Fort, calling someone green.
At the end of the day you don't know how BlackRock works.