Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Good to here from you again bbg. that's twice this week mate.
Glad your still posting, despite being ridiculed by the lnfester.
Where are you spending Xmas mate.
Italy the uk or australia.
Not sure aus is a good choice, forecasting hottest summer on record. Bush fires all over wa at the moment.
Still your aware of them. No need to tell you.
I forget mate, how long did you say you lived in australia.
On his Twitter
Hi DBW, where are these quotes from Irwin coming from? I didn't hear him say this on that podcast (possible that I missed it though).
You are preaching to the converted here Add where the BOD are concerned. We don't have a slate of suitable candidates to take their place if we vote them out, and would be playing into the hands of parties with malevolent intentions who in the past have been disruptive which prompted the Chairman's letter. I totally agree with you, we must allow Scott time to finish what he started.
Eloro, despite the fact I voted against him in 2020, I will not be doing so again. I think he's useful as an NED and we want him to remain onside with SC. The most important thing is that we maintain Board continuity, although Twigger's position is neither here nor there. Fort seems to think if we sack the lot all our problems would be solved - he's wrong. It would be chaos and we've had more than enough of that.
Q, what makes you think the upcoming AGM will have anything to do with a 'low ball offer'? Because I don't.
“Emense influence”
Now try and tell me he’s not stupid!!!
Although I have plenty daily reasons to be anti-Aussies, I will be voting for NM out of some sense of appreciation for his previous work at Cascabel.
Fort, those holding over 3% account for 50.48%. Then there's NM, SC and BS's holdings on top of that. I don't know how many institutions hold less than 3%. The balance of the shareholding has shifted considerably since 2020, although if it appears the Board are facing a battle I have no doubt they'll be canvassing our support.
Unsurprisingly, I think you're completely wrong about SC and you'll regret it if he gets given the boot.
The reason Irwin isn't buying more is that he feels his fund is fully exposed and he has no wish to take on more risk in this stock. He's balancing his risk, just like all fund managers.
Eloro, yes I think he is looking at that time scale.
DBW agreed, but you won't persuade people like Fort with your argument about remuneration.
Sorry addicknt you are missing my point.
None of us know who's going to vote for what.
But we can guess what Mather will do, because he's done it all along.
He will not allow a low ball offer and he will add to the defence of Solgold considerably.
What Mather decides is incredibly important in the direction of Solgold.
It's not about who supports Mather.
It's what Mather gets for supporting anyone's position in Solgold.
He carries emense influence.
Add ….. NM has, either personally or via various holdings just shy of 300m shares (“I have 297m reasons to realise shareholder value “) so now under 10%. This is still a decent chunk but he’s been diluted the same as BHP etc. He could well be unseated this time round and then I guess we will be fully “Canadianised”.
Whether this turns out to be a good or bad thing who knows.
We seem to be on a set path to get all required approvals, produce the new PFS and get Cascabel ( and probably the lot ) sold.
As for why no one is making a low ball bid whilst we are floundering at 8p I believe it’s simply because everyone knows it wouldn’t be accepted.
Scott taking a very basic wage but fully incentivised to get this sold for a decent whack ….. I think he will we just need to remain patient.
A question I am all too familiar with coming from the kids in the back seats:)
That said, he did put it out there in one of his interviews that he expected a deal within the next 6 months. I guess he would have updated that time line yesterday if he felt that was no longer achievable.
Addicknt,
If you add up the large holders, what % do you get to? I don't think you fully understand how many shares out there are in smaller or HNWI's hands. If the pi vote was so small... you wouldn't had Mather reaching out some years ago with his begging letter. If Newmont and BHP vote against Scott as well as a load of fed up pi's... then he's toast.
All he had to do was throw pi's a bone and give them a reason to him in. Instead he's done zilch. Apart from line his own pockets!
The question you should be asking Irwin (I noted your comms with him) is WHY hasn't he been buying at these low levels? If he believes in the asset and bob/scott etc then surely he'd be filling his boots at 8p levels? And before you say the volume is not there... erm... Berry Street just offloaded 1.5% into open market.
IRWIN doesn't look like he wants more SOLG stock at all. That's not a confidence booster is it? He might say... he has enough... but that's nonsense. What other investments out there offer him such a great opportunity??
So ask him... see what he says. He won't like the question one bit.
Q, why are you wilfully missing the point? I'm talking about the upcoming AGM and the threat of Board disruption and all you can do is bang on about Mather. You seem to be implying that you think Mather is going to vote against SC and, if that's your view, fair enough. But I'd like to know why you think that. Everything we've told, and we've been told repeatedly, is that the Board is united, and that's all that matters. For heavens sake, move on!
Eloro, I didn't want to ask that question because it seemed a bit daft - a bit like a kid in the back of a car constantly asking "Are we there yet?" My guess is he won't know any more than we do, although I may be wrong.
Hi Add,
Did Warren gave you the impression that he is expecting a deal by end of Q1/24 which would be the end of the 6 months duration which he previously mentioned?
Addicknt it's not about support it's about ownership.
Mather owns the largest amount of shares through various guises.
Q, he no longer controls the dominant block. Assuming the ex-CGP holders support him, SC does. But that's not really the point, is it? We're led to believe NM is fully onside, so together they're in a powerful position.
The other point is that whereas in the past NCM voted with BHP, there's no reason to assume Newmont will.
What I was trying to get to in my original post was who is likely to vote against the Board and why? Because apart from BHP, I can't really see why anyone would, and now Mather's not in the driving seat, even BHP may have changed their minds.
This thought process was triggered by Irwin's comments to me yesterday, and although I suppose I could ask him, I don't want to keep bothering the bloke.
Incidentally, I know there are people on here who want to see the back of Caldwell, but with respect, their views are not important...and neither are mine. It's all about our main shareholders.
They may be, but theres no volume...its melted away again after the Berry Street fireworks...
Buyers needed...
In my buying range, MM,s looking for buyers?
You are so deluded you are off the chart.
1984 makes a lot of good points and is extreme in some of his views.
The sooner you are banned from trolling on here and ADVFN the better.
Mind you all your fake accounts on ADVFN will never get banned so we can all live and hope LSE throw away the keys to your padded cell.
You are obviously very bitter at your losses judging from your posts on the other side.
Karma
Good morning addicknt.
Nick Mather owns just over 90 million shares, which makes his personal holding just over three percent.
Which as I stated gives him the biggest holding in Solgold in his various guises.
RT, you're right, he did stymy BHP, but, rightly or wrongly, he ended up paying for it with his job.
The point of my original post was not to look back, rather it was to look forward to the next month or so, because that's all we should be interested in. The debate about Mather was done to death and we really don't need to rake over it again.
Is there any conceivable route back to Nick being CEO again?
Good reference Quady. My personal view for what it is worth is that NM did not receive the acknowledgement from smaller shareholders he deserved by winning the various votes at the 2020 AGM. Self interest was doubtless one of his motivators but by rallying folk like us as he did (successfully) he stymied any chance of a cheap takeover by parties such as BHP. Without those efforts, I don't think we would be Solgold shareholders now albeit many of us are Solgold shareholders with sore heads.
Q, DGR have 6.8%, Tenstar have 3.59%. I forget how many he holds in his own name. They have less than the old CGP interests. The other thing to bear in mind is that in the event of another fund raise - god save us from that- none of his interests has the cash to stand their corner. They'll be diluted out of sight. Can you see him wanting that?