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I was answering your 08.47 post, not your 08.56 one.
I don't disagree addicknt, and he mentioned selling DGR's stake in Solgold eventually.
So where does that leave us.
Will he sell out cheap to BHP. I don't believe he will.
Will he keep the book diverse. Absolutely, which could mean DGR may sell to another party at a large premium.
CGP may also be looking to do this.
So timing.
Well we proceed to production, so we need the DFS, and the BFS, and the CFP .
Once we start construction, this becomes a possibility.
But I think a big clue would be when we do a fund raise. If we can get a new party interested at a premium, then BHP and NCM have to stump up. However if an offtake is agreed, then that is a huge push to production, and not entertaining any bid for all the obvious reasons.
Q, the article about a BHP/NCM meeting was in either May or June of this year and it referred to the possibility of a bid from July onwards.
One day you'll realise life moves on and companies are dynamic entities in which priorities shift regularly as they respond to circumstances. You'll also realise company announcements very, very rarely give the full picture and are manipulated to suit the message they want to make public. Over the years we've seen this from our board more times than I care to remember.
I may be wrong, but I don't recall Mather using DGR pr in this way previously. Again, from memory, he's limited most of their announcements to a fairly anodyne stuff lifted from our own presentations etc. Clearly, this begs the question ; "what's happened?"
We know he wants to lift his share price, but I guess he wouldn't want to give publicity to something he knows to be false.
Something has changed around the boardroom table at Solg.
Good morning BNC, yes that was the joint bid story that proved to nothing, as bid was supposed to be in June. We are now middle of August.
Even when that story had come out NCM had announced that it was not selling it's stake and wanted to increase it's holding, should the opportunity present itself. Yes its about a year old, addicknt will point out. But no updated statement from NCM.
No LunchMoney I can't give you a time and date, as I don't remember every time and date for everything.
But for those following the Solgold story, will know this has been repeated many times by NCM.
It's like watching the Magic Roundabout....waiting for the BOINGGGG!
Sure max.
Earlier this year the two were rumoured to be working on a joint bid for SLOG according to the mining journal...........
https://www.mining-journal.com/london-to-a-brick/opinion/1428389/joint-bhp-newcrest-bid-for-solgold-%E2%80%98within-months%E2%80%9D
for info
Good morning big boy,
Well, your Thursday morning little gloating was premature (yet again. ...)afterall.
:)
Take your time ,and GL.
..
Me fancies a trade
Bubble you will not get NCM/BHP acting in concert. So no joint bid. Both have announced they want an increased stake.
NCM have announced they are not selling.
Concert groups take time to set up.
The one thing we can be sure of is no joint bid by NCM/BHP.
Well RIO could put 2.7 billion into another project in Ecuador I can think of :)
Rio Tinto’s plan to take direct ownership of a copper mine in Mongolia has hit the buffers after its $2.7bn buyout proposal was rejected.
Turquoise Hill Resources said a special committee had “terminated” its review of Rio’s C$34 a share cash offer, saying it did not “fully and fairly reflect” the value of its holding in Oyu Tolgoi.
“A transaction at the price proposed by Rio Tinto would not fairly compensate minority shareholders for the fundamental, long-term value of the company’s interest in Oyu Tolgoi,” said Maryse Saint-Laurent, chair of the special committee.
Located in the Gobi desert, Oyu Tolgoi is one of the world’s biggest copper deposits. Once the underground expansion project is completed, it will be one of the world’s biggest copper mines, just as demand for the metal increases because of the energy transition to a low-carbon economy.
Although Rio operates Oyu Tolgoi and is overseeing the underground expansion project, it does not have a direct stake in Oyu Tolgoi. Instead, it holds a 51 per cent stake in Toronto-listed Turquoise Hill, which in turns owns 66 per cent of Oyu Tolgoi. The rest is owned by the government of Mongolia.
Turquoise Hill said on Monday that engagement between the parties had “not resulted in a consensus on value and price or in any improved proposal from Rio Tinto”. Rio declined to comment.
What is interesting (whether speculative or not) is the situation between NCM and BHP. For a while many have seen this two as acting in unison, like a combined weight. Them against SOLG etc. However as we near the end game it appears this little love nest is falling apart and perhaps NCM want more of SOLG than BHP thought. Mather is potentially the king maker here along with his other holdings and friendly investors (I add tenstar to this). If Mather agreed to go in with NCM then BHP are back to where they were with Wyloo and Noront. Pushing water uphill.
NCM might not want SOLG, but by hooking up with Mather (pitching a bid for SOLG) they could certainly push BHP into making a much higher bid than they would want.
You've got 3 main players at the poker table. Mather (20%+ combined with friendlies) and NCM and BHP with their 13.6% CGP clearly have signed up to back SOLG hence the cooperative agreement.
And of course, then there's those in the shadows. I have heard Barrick's name mentioned several times regarding Ecuador recently which makes me think there is interest in the country that is building now world moving away from Russia and lefty hot spots like Peru, Chile, Argentina and Venezuela.
If the share price starts to move up with bid interest again - we might see a bid move sooner than many on here think. Better to make a first bid with the sp in the low 20's than the high 30's.
Bring it on... it's what most of us have been waiting for, for a very long time.
To be fair, I've held shares for a number of years (I joined this board much later, having found it by accident) and the speculation of an imminent bid has been rife for as long as I've been a member. We were waiting until the AGM, waiting until January, waiting for the PFS, waiting until July and low and behold, we're still waiting.
My point here is no one knows, but the bid speculation hasn't come to anything so far, so let's allow everyone their own view without a pile on.
Starter for 10, nonetheless! A tweet that broke the camel's back and unleashed the beast - possibly !
ATB
It's very interesting that DGR tweeted this. Combined with Mather's recent comments, it appears as if he's on the outside of the tent pishing in.
https://twitter.com/dgrglobal/status/1559026363633647616?s=21&t=BofVJx1XG9OcerKr5-oRXg
Thanks sjn
https://twitter.com/dgrglobal/status/1559026363633647616?s=21&t=KHg8qsKDykPQkJulV01gvg
Quady NC/BHP joint bid maybe but there again there's alot watching solgold ATM ,bounce coming as we wait imho gla ONWARDS and Upwards solgers gla
DGR Tweeting about likely heavyweights battling it out for Solgold with a screenshot of an article in the Australian Financial Review. DGR share price spikes 10pc at the moment.
Watch out for .... " redknight1 " posts
Not only has RED on the nickname
in the latest posts
and also in the ( its ) Forehead
The truth looking at what has happened lately.
SP has been decimated due to expectations of raising money now.
But the plan has been stopped just now.
So short term should see the share price bounce back, at least the Metals are doing that already, next should be SOLG.
Monte your missing the point, the mining community have been expecting a bid every month since 2013.
If you understand why a bid hasn't happened up to now, then you understand why we will not get one in the immediate future. If you don't understand why we haven't had a bid up to now, then you probably think a bid is on the way.
I have always said that the most probable course is we proceed to production, given the diverse book.
No one party can force a bid. ( and many other reasons ).
We may well get a bid in the future ( I have always said that, only addicknt and a few others rewrite what I have said )
But it will not be before we have a CFP to construct Cascabel.
We have come this far, have patience we still have some way to go.