Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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1984,
My post on 13/03 I said exactly that, buying after the bell low price, encourages buying first thing in morning, then they sell through the day for profit or just even roughly
At least I’m not the only one thinking like that
Atb
Have you ever done an IPO addickt...
We own 100% of Green Rock.
Yes it would need some seedcorn to establish itself and pay the NOMAD and flotation costs but, typically you issue 15/20% of Green Rock shares to the market, lets say for £15 million which then starts tro fund the development progtamme for the projects it owns and from which the parent can be refunded all the inital costs.
It doesn't in any way dilute us as Solgold shareholders, but it puts a value on resources that the market is valuing at a negative amount at present because it is nowhere near even valuing Cascabel at the current share price.
So the three projects can be funded to develop with no cost to us, so that we can focus our spending on everything else.
Good to see Citi have a good relationship also with Newmont, including Forrest
https://www.theaustralian.com.au/business/dataroom/potential-northern-star-interest-in-newmont-assets/news-story/ed36a1644f337c6fd773d919a6c58ac5
It was kat’s theory that the same holder is washing shares back and forth to manipulate. I don’t recall the exact details but what I see on L2 supports it
Whoever is doing it was absent during the huge volume days but now appears to be back
1984,
I don’t have L2 any more, but that sounds about right, sells within reason matching buys but normally over a few more deals one way or the other.
It seems we have the perfect storm for a bid, just don’t know when
Thanks for your thoughts
Atb
IMO a trader indentifier or code should be alongside every order placed for transparency so we can see visually who has which positions
Im not allowed to post L2 data but if you have it, look at all the bids an asks the same size
21,376 (5 each bid and ask)
20,109
21,239
Then look at the time stamps, they are always moving together on both sides so we can be confident it’s likely the same placer
Seems to be buying/selling the same amounts of shares for what reason?
Cheers DBW,
1984, what have you got that might shed some light on my question, cheers in advance
Atb
Quady plays for both sides allegedly
Someone playing both sides …. Allay 20k odd
Ask 1984 he’ll send a screenshot shot . I can’t do it in the pub
Just looking at this sp, roughly last couple of months it’s averaging out about 8p give or take a few fractions, what is the daily average of sp and time taken to form a bid price, just wondered as I’ve read quite a few different opinions.
This is definitely being kept here in this range, just be interested to see other people’s opinion
Atb
RK, your appear not to have grasped this. Currently, we own 100% of the subsidiaries. If we spin them off they will need cash and that cash will have to be in the form of equity which, in turn, will be provided by new investors. We will then end up owning a diluted percentage of newco.
And '84's point is also completely valid.
Is there a special school people go to to learn to be this dozy?
If you spin something out with little or nil value, how much money do you expect you’ll raise?
IPO certainly viable but can be risky as you are opening the key asset up to creeping ownership.
Rio Tinto derisked Mongolian assets a few years back when they did an IPO with Oyu Tolgoi with a decent wedge of it going into the IPO traded business called Turquoise Hill. They later bought it back once project was over the early production issues.
SOLG have worked hard to get strategic partners in and to keep BHP and NNM at bay etc with reducing their interests down from combined 27% to just over 20%.
No point at all spinning ENSA out unless you get the full valuation via the IPO and that rarely happens. It's costly too.
Spinning out the regionals with 50 odd licence blocks makes perfect sense and should have been done 2 years ago. A few discoveries and the share price on the exploration spin off would probably be higher than the share price on SOLG / ENSA lol!
The market is so thick these days it woudl happily price up a potential Tier1 mine rather than price correctly an 'actual' proved up Tier1 mine.
That's the markets for you. Speculative.
Ah great news. That’s means I can sell my kitchen and the house will still retain its original value
Why didn’t I think of this sooner ?
Oh dear addickt...
Its asn IPO...say Green Rock Resources...you're issuing shares in Green Rock, not Solgold, so its not dilutive...
But it also puts a value on Green Rock, which increases the recognised value of Solgold's total assets
Redknight - what has changed that you are now supportive of IPO'ing the subsidiaries?
When we had a similar conversation last year about a spin out of the regionals you were vehemently against this method given the tax consequences it may have for PIs.
I agree with Add. Even if you IPOd the original SolGold 6 it would be quite significant dilutive.
We'd be best packaging Cascabel and Blanca up given this week's news about porphry prospectivity and then spin the rest out into one regional business with Bramaderos et al, IMO.
Brisvegas, indeed, it's a wonderful country and, like many Brits, I have quite a few relatives living there.
It’s a bit like saying you could sell the four alloy wheels off your car and then expect your car to still be worth the same
And to think he worked at board level in a bank we’re meant to believe?!
We like hostile. It usually fails but pushes up shareholders returns.
Hi Add. Please don’t judge Australia on this moron. Not worth a breath.
There is no way in hell Mather is going to sell anything to BHP.
He cannot stand them.
Thankfully we do not need BHP and if they want it, they will need to go hostile.
NAL, that was 2016. I know Australia is a long way behind the rest of the world, but just for guidance, it's now 2024. You'll get there one day, although I'm not holding my breath.
RK, obviously, and that's why it would be dilutive.
When you do an IPO you raise cash...thats the whole point...