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to Mitsui I would guess? in which case perhaps to BHP's influence
"Potential short-term
funding through placing
of SolGold shares held
by Cornerstone"
Look in the dropdown...theres an October presentation. Apart from what SM has posted...
Simplified structure enhances opportunity to bring in a long-term strategic investor
• Streamlined ownership at Cascabel and SolGold more attractive
• A larger stake in Cascabel is more attractive to a strategic partner
Addition of Cornerstone’s Ecuadorian and Chilean exploration portfolio
• 12.5% of Bramaderos JV with Sunstone Metals carried to production
• Interests in Cana Brava, Bella Maria and ENAMI Strategic Exploration Alliance in Ecuador, and Miocene in Chile
Significant re-rating potential
• Combined company currently trades at a discount on key value metrics
• Transaction a first step towards unlocking valu
Focused on value maximization
• A simplified structure sets the stage for a strategic review of the combined company
• Our top priority is maximizing value for all shareholders
$30,000,000 / 157,100,000 = $0.19 USD
Which equates to £0.17
Appreciate they say 'in excess of' but is it implied that we'd be looking at a placing those shares with a value of around 17p?
Ha Sharket
Was about to flag up page 8 too
Lunch … you’re welcome
POTENTIAL SOURCES OF FUNDS
? Cornerstone holds 6.84% of SolGold shares
• 157.1 million shares with potential to raise in excess of US$30 million
• Potential for Cornerstone to place these shares to strategic investors
• Proceeds would be loaned to SolGold ahead of transaction closing on terms to be agreed
? SolGold is well progressed on a number of alternative funding options
• Strong interest in SolGold assets remains despite challenging short-term market dynamics
• Copper’s medium/long-term fundamentals intact
• Cascabel is well positioned to supply into an emerging structural deficit amid a weak broader project pipeline
From slide 8 of the deck. Looks like Option 1 is what LunchMoney has been saying since news of the merger was announced. Let's get that done ASAP, release the two catalysts and then get the lot sold off in the new year, please.
Its very simple.
Solgold doesn't have to find any cash to pay CGP investors.
So the cash need is as before.
Lunch
It’s a presentation re merger
https://wp-solgold-2021.s3.eu-west-2.amazonaws.com/media/2022/10/SolGold-Cornerstone-Transaction-Investor-Presentation_2022-10-12.pdf
I guess he'll be setting out the rationale for the transaction and I'm not expecting much else. Of course he won't be able to say anything interesting.
Rare for a significant RNS to be released during trading hours.
I hope you guys have posed plenty of questions. This is the opportunity to learn. The presentation will be a non event unless an RNS is released prior to it.
You won't need a link for today's presentation, it will be a rerun of the last 10 just look them up on youtube
Redknight - can you elaborate? I'm not seeing the relevance in that statement. All it's saying is that if we settle 20% in cash then all shareholders will receive that cash, not just certain ones, and that the number of SOLG shares being issued would be reduced accordingly.
There's nothing in there about that being funded from existing resources.
If you calculate the implied CGP valuation from the SolGold offer then you'll return to your a original assertion, which was correct.
Reminder Solg presentation today at 1 pm
Thank you Lindyloo55 and StukeyBlue.
Thanks Talatum.
So if Darryl's statement can be taken at face value, there is cash until the end of the year...
I was wrong about the cash need on the merger, as this statement makes clear...
"Pursuant to the terms of the Agreement, SolGold may elect to pay up to 20% of the consideration in cash, in which case the cash would be pro rated among all Cornerstone shareholders and the number of SolGold Shares issuable to Cornerstone shareholders would be reduced. "
So we can now focus on the takeover prospects and any gems that Darryl leaks out in the presentation...
Quady. It is at 1.00pm BST. I use investor meet people
investorhelp@investormeetcompany.com
morning Orthern,
I honestly don't think he can afford to do the same old presentation. Within limits I'm expecting this to be much more revealing
Quady , it is Investor meet. There is a link 50 messages back (or similar)
https://www.investormeetcompany.com/solgold-plc/register-investor. Morning Quady. Here is the link. Kind regards
Will prob get the block caving video again lol
May I ask that someone posts the link and UK time for today's presentation, as I do feel this one may be worth watching.
Thank you.
So, Irwin's locked-in. He wouldn't have given away his power to sell unless he'd been told specifically that it's a full or partial disposal we're after. And he most certainly wouldn't do it if it was a fund raise the guys were pursuing...no one in their right mind would.