Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I won't answer you quady
Recent heavy buying (in summer) at 35p from Blackrock, Norges and a few others tells me that any offers or deals will need to start at 50% above that level before anyone starts licking lips.
NCM (if not bidding) are not going to want less than double their average price and they need the cash.
On a comparable to CGP, I think at one point they were hoping for a $8 a share event (when they were trading at $3 to $4. So on that basis they might be happy with anything over 40p. That's the only weak link I can see ahead. CGP might go weak at the knees if an offer lands at 50p. Mather wants double that. Whilst the strategic review may well end up with a plan to put the business up for sale lock stock and barrel, there has to be some brotherhood cohesion in standing firm if they want a higher bid. Gets tough when the bidder lands the offer in the low ball but potential sweet spot which divides SOLG BoD's.
But let's not get ahead of ourselves. There's enough experienced money men and mining experts involved with a big pay day here that I am sure they will deliver a strong deal.
Remember, the sale process has to some extent already been running for over 18 months if like many you assume the 'interested parties' discussions on grass root licence blocks would have led to hypothetical 'deeper discussions'.
Finally, a quick one on Darryl... he held a key vote on the BoD's and that vote has now gone. So voting/control enhanced to the CGP/Mather team. And on a contractural HR basis, Darryl signed on Dec 1st 2021, so being booted before a years service has implications. After a years service... things become more complicated and expensive. But I'm speculating there.
Good morning Ortherncopper I have more questions than answers this morning.
The CGP deal. What was talked about and committed to?
If we are going to be sold why the offtake agreement for 0.6%, as we had 30 million from the CGP deal as a loan?
This doesn't add up.
A sale makes no sense.
Could we be talking about financing Alpala before a DFS.
I am not sure how that works.
Anyone got an idea how to join the dots and make sense of all the above.
Please if your answer is we are going to be sold don't respond.
They are his holdings in CGP.
What a ridiculous post Quady.
If you say you're not a stirrer, then stop stirring.
It's that simple.
People on here used to sneer at cornerstone, claim they were finished when we get to DFS… like they were just a turd on Solgolds Shoe.. Now they really are the king makers… hats off to them and Irwin…our board, are and have been for a while, absolutely woefull
People still claiming we will be sold for £1-£2 are like brainwashed cult of Solg followers… it’s almost laughable..
What a ridiculous post Jezzoo.
If you say you're not a stirrer, then stop stirring.
It's that simple.
I'm more than pleased with recent events as I've been after a sale or monetisation event for last 18 months! That's what I'm here for! Remind me what you are here for apart from wetting yourself over funding and the world is nigh??
The asset is world class. We're fully funded for 12 months based on zero exploration. We have 100% ENSA. Surely you can see that all is being prep'd for a corporate event.
Let's how you view of the market changes as the sp rises. Aligning the sp to today's news is naive at best.
Haha Addicknt. You nailed fiduciary at this early hour and then made then slipped in the very next line.
I hope you're right. I really do.
My thinking on the fiduciary duty is that stops when the merger completes. CGP management will point to a successful exit at a premium into a more liquid share that can be easily traded via a major market. I don't see how CGP management has that responsibility towards us. That rests with SOLG management and we've seen in recent weeks just how willing and able they are to deliver shareholder value for us.
Look at the facts. Strategic review on a tier 1 asset and look at the SP reaction. I think you said it yourself at the time Add.
I hope. I really do.
Okay for the first time I am posting with no evidence, but I have a gut feeling.
After all the rubbish spouted this morning saying a sale is imminent.
Try this for size.
This is to do with the 0.6% offtake agreement.
We know our major shareholders were unhappy, just like they were unhappy about the Franco Nevada offtake agreement.
I don't think Darryl supported it that is why he name was not on the RNS.
No conspiracy theories on NM required.
Darryl was at odds with the board.
He may have wanted BHP and NCM to retain their percentage holding.
Now I am not saying I am correct, but this has come out of the blue and this was our last announcement.
Market pretty nonplussed this morning, wouldn't surprise me if this closed up today.
ONWARDS & UPWARDS !!!
Have a good day all
Add - I see DCs departure as per of the deal - get SC in place before the merger is official. Not necessarily unhappy ship but part of the process of agreement between CGP and SOLG
I'm struggling to find details of where Mr Caldwell's prospective 17,587,500 shareholding comes from. Is this the multiple of his Cornerstone shares to SOLG shares upon the merger completion or are we offering him a huge bonus? The RNS can be interpreted either way and I am struggling to find out how many Cornerstone shares he has.
Frankly, I find this all an utter s**t show. I used to be excited about the SOLG experience, but now I can't wait to get out of here and move on to investments where I don't quiver with trepidation every time I see an RNS notification pop up!
Quady ,as usual I'm merely calling you out as the trouble maker here.
Your ego is your biggest enemy.
You hope that if you repeatedly call me a stirrer people will start to believe it.
Clumsily mirroring my opinion of you is unintelligent to say the least.
This news today has really rattled you for some reason, care to tell us why ?
You have been proved to be as clueless as anyone here about Solgold today.
Ahh ! That's it.
Good grief
Idiot.
Thanks
Killjoy: Bigdude6669
"throw" not "through"...gawd blimey, I'm regressing faster than I thawt.
Bozi, common sense.
They have a fiduciary duty to their shareholders and have long heralded Solg as the jewel in their crown. They are not going to through this away. Why would they? We will have enough cash in the bank to see us through the process and in these circumstances it's difficult to see why it would be described as a "distressed sale".
Don't get me wrong, Dc's departure is a sign of a very unhappy ship - I think we already knew that, but the fact is we're still sitting on the asset.
Cheer up old boy, you'll be counting your profits soon! At least I hope so!
That's all you've got Fort. Noront, Noront and Noront.
They have board and management harmony and that allows them to defend any unwelcome interest.
We, by comparison, are in absolute chaos at management level. CEO and CFO not driving company and financing strategy. Major investors whinging at every turn.
SolGold is the turkey a fortnight before Christmas and you all seem pleased about this.
Correct Bozi.
As I said noone checks, and you get the likes of Jezzoo who is clueless about everything Solgold trying to have a go at me.
However this is unexpected and interesting what we should be discussing is what is occurring here.
This is difficult with the same people saying we are going to be sold.
If NM had a full English breakfast they would say this is evidence that we are being sold.
Does anyone have anything useful to contribute.
Addicknt - they've wanted an exit for years. They've had to pivot from their own company into SOLG to make that happen and took a premium for it.
I've seen nothing to suggest they're willing to fight it out for a fair price. Have you? Irwin himself has been talking about getting out and into new opportunities.
They're virtually distressed and will sell to the first bidder.
What's your view to back up your logic?
Bozi
The rampers would tell,you it’s good news if they lost all their licences because it would make selling the company easier.
Every bit of news is good, however the market does not see it like that.
It’s laughable to think because DC has left it has Mather’s finger prints all over it.
Mather did not want to step down but was forced out, no reason to believe anything else has changed no matter what spin the rampers try to put on it…..
We’ll have it’s another opportunity to top up, before a £, later today followed by ….wouldn’t want to be out over the weekend tomorrow………
Meanwhile 15s beckon but they’ll still post this bs
Bozi - what was the market saying when it priced Noront at 23 cents a day before BHP made a 55 cent offer and month after it ended going for 110cents.
If you are to make a success of investing and trading you need to look past the market. Instead you seem to think it's the oracle. I'm afraid to tell you, the market gets it wrong, regularly and spectacularly sometimes.
Jezzoo this boards chief stirrer is stirring yet again.
He really doesn't know when to quit.
I take you dumped the First Tin shares you already bought Redknight?
Yes I do remember you saying you'd bought some.