George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Correct rcgl2.
The way I look at this is that Blackrock have hundreds of different funds. If, say, 5 of those funds held their SolGold position between them that will be subject to change as each fund is managed independently, often by different fund managers, who will adjust their position based on numerous factors including ongoing analysis of the investment case and redemptions.
Sorry Rc..... misunderstood ....
DBW I was referring to Colonel Drake's comment "shows how easy it is to manipulate the price or keep it in check."
You would expect their holdings to fluctuate a bit as investors buy or sell the funds and ETFs that hold the shares, or when the indexes that the ETFs track are periodically rebalanced.
Didn’t say they were keeping the price in check, but it’s clear they’re in and out quite a lot or their holding would remain constant
Why would BlackRock want to keep the price in check? They're an asset manager, they buy assets with the intention of them going up in value.
Colonel
1st March announcement
Norges had 73948696 shares 3.22% ( as you said) so it’s probably been hard work to increase holding with so little liquidity….. the drop after PFS must have been an unexpected bonus for them …. Great to know there’s always an appetite for the shares in the background
Soaked up typo apols
There's a reason they get soaked it aswell imho not long now
So Black Rock know anything they play around with will most likely get soaked up in a jiffy …. Exactly
Yup saw that
Thought it was lower prior ?
Black Rock also up a bit 4.88% ….. I’m sure it was nearer 4% before??
This is all I can find
https://m.marketscreener.com/quote/stock/SOLGOLD-PLC-4005870/company/
They’ll be overtaking Black Rock soon (4% as I recall)
I've decided to free lolz tomorrow morning...
Full rent paid....
Night all...
Waynexx,you maybe right there 11 trade today maybe news coming let's see my theory
The PFS came out earlier than expected in April rather than May. so does this mean a bid as early as May rather than June.
“At Canaccord Darryl participated in a panel on copper with another five companies, there was no presentation. Today he will do a fireside chat style presentation at BofA. He will refer to the presentation a bit and I’ve uploaded the latest presentation to the SOLG website, but there isn’t really anything new in there aside from updating for a few numbers”
Exactly colonel….. it’s all in the detail
Bank of America too ….. ?
tks for the reply Lunch - spot on matey.
Cheers.
Damers.
I think you are right rcgl2.
My latest guess is................
ENSA & Carnegie Ridge - sale to BHP & Newcrest, with a bid landing on July 14th.
Green Rock / Cruz / Valle either sold or JV'd as a package, with update on the subject in the next 4 weeks...................
I don't understand why doing an IPO of ENSA would help the funding situation in any way? Solg is currently valued pretty much entirely on Cascabel with very little value attributed to anything else. How would a spun out ENSA have an easier time raising nearly $3bn capex than Solg currently would?
And what would be the benefit to us as shareholders to sell off part of the asset and presumably end up holding shares in another listed company? Why not just raise finance in Solg as it is today? How would it please the two major shareholders who want Cascabel for themselves? Wouldn't it be easier just to sell it to them or to let them earn into it by funding the development or something?
Also on a practical level how would the spun out entity operate? Who would run it and manage it? There's enough moaning on here about Solg management not being up to the job and key appointments taking a long time to fill. How would the split work between Solg and ENSA? It's not like it's a profitable operating division than can be spun out as a standalone business. ENSA is just a holding company through which Solg operates Cascabel. It would be easier to sell it in a private transaction than IPO wouldn't it?
If Solg wanted to spin out anything I'd have thought some of the less advanced licences in other subsidiaries that could just be floated as small early stage junior explorers?
Afternoon Lunch.
You have used the higher NPV figure of $4.5bn which gives you the -35% figure. If using the lower NPV expected figure of $4.1bn we get a cut of -29%.
This only adds weight to the Mining Journal article:
- Spot on with with the suggested issue date for PFS (+/- a few days)
- Spot on with reduced NPV (+/- 1%)
This adds substantial weight to the article.
Damers.
"The PEA assumed lower copper and gold prices than we have today, but at the time, analysts were concerned by a capex number of close to $3bn.
Some analysts expect the 2019 forecast of Alpala's net present value (between $4.1 billion to $4.5bn) to be cut by up to 30% - keeping initial capex within tight limits."
Crickey Lunch id have to get my head screwed on for that am afraid ,maybe others .can help there but on what you said those Values must surely have increased imho
Absolutely Pad!
Jerry,many thanks for heads up ,indeed we have a few on here
Here here Bubble. NM deserves our thanks - not criticism. And not forgetting the many mining industry awards he’s received.