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You have to bear in mind their motives though Addicknt. Have they done it for the right reasons?
They know they were toast at the AGM in any other circumstances and this is the only action that saves their bacon.
The proof will be in the pudding ahead. Can the enlarged board tread the path to a successful conclusion, or will SOLG shareholders get a rough deal again after having to contend with one now, coming at the end of a less than satisfactory year for the company.
Solg are holding an investor presentation on 12th Oct 2022 at 1:00pm BST… opportunity for doubters to ask clarification from the Board then…
I've just received an invitation to an investor presentation on 12th October.
A bit of tidying up before the sale eh?
Get ready for take off.
GLA
Bozi, simply because they must have agreed a commonality of purpose and we all know what CGP wanted. Cast your mind back to the RNS of last year when CGP extracted a promise from us. At long last something's been done to address that agreement.
Got your books in order I see they will like that when the offer comes in next and it will imho
copper, this may have saved their bacon. Is it not possible they've listened to the criticism and have now, somewhat belatedly, done the right thing?
I'm not sure why CGPs board gives you confidence though Addicknt. They're nobodies who have just leached on to the good work done by SolGold.
We've had out SP decimated since the PFS and now we're expected to raise a slug of funds in this market to put in CGP shareholders' pockets.
If we're going to exit, as most clearly prefer, it had better be on good terms. I'm not interested in Palling up with Irwin and Co just for a subsequent firesale of SolGold or Cascabel, the latter surely not that likely for the reason you mention?
has disappeared about how shyte the BOD are! Many folk said that they were toast at the next AGM, and the majority of them had sat on their hands since taking their post.
NOW.....AS IF BY MAGIC....."EVERYTHING IN THE GARDEN IS ROSY"!
Some folk are very fickle....at best!
One big pile of copper, multi-decade lifespan, multiple other opportunities. Gsh.
Looking for cash-rich resource-poor new owner.
Please call 555-452-5589, and leave credit card details.
Bozi, if it leads to a disposal I'm happy. If not, I fail to see the merit.
However, CGP have been pushing for an exit and their board clearly believes this is the best way to achieve one - and that gives me confidence.
Pleased with this joining of forces, reducing the weak areas that could have been exploited, let’s hope it all goes through for the good of all
Atb
make it easier to sell too
Wow …… book looks a little less divests now
Dbw really lol ??
This move should make funding easier, should it be required.
Question is does market respond?
I'm in the same boat Addicknt. Not convinced it's the good news some think.
Chunky raise coming to pay the 20% in cash.
Well done folks. You got your strategic review but it's coming at a cost.
Yes Warren let’s ****ing go
1. Financing options.
2. Spin-out of non-Cascabel interests.
3. Full or partial sale of Cascabel.
4. Sale of business.
Which one do people consider to be the most likely?
For me it's 3 or 4.
Finally a deal got done. Let's all move forward with this extraordinary discovery and the exceptional exploration properties the new combined entity will own!
DBW, indeed and that's no bad thing.
I'm guessing, but I assume BHP/NCM must have approved of this transaction, despite the fact of dilution. I'm also guessing the reason may be that any bid they launch will be made simpler by having everything under one roof.
Lol I thought market was closed but it wasn’t
Be interesting to work out how this affects the shares in issue & voting rights….. at least it appears there is harmony at last and a common goal
They did a good job of keeping this quiet in Canada; neither we nor CGP moved an inch yesterday.
DBW, I missed the best bit i.e the strategic review. Now I get it and it makes perfect sense. We are now most definitely on the runway. Hobloodyray!
Add …. I like this bit …. Leaving the door open
“ including in the event that the Arrangement Agreement is terminated by Cornerstone in order to accept a superior proposal”
I know this won't be popular, but I didn't like the deal when it was originally suggested and I'm not sure I like it any more now. Mind you, if it leads to an improved share price and ultimately something more exciting, I'll be a lot happier.
The one thing it does imply is that we're obviously very confident that we're going to have the cash, and that is excellent news.
“Pursuant to the Agreement, SolGold is pursuing a strategic review process with the goal of maximizing value for all shareholders (the “Strategic Review Process”). Accordingly, SolGold has appointed Citigroup Global Markets Inc. and Maxit Capital LP (“Maxit Capital”) to act as financial advisors to assist with exploring value creating alternatives for the Combined Group”
This is where Citi finally earn their corn.