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I remember CONTINENTAL GOLD (TSX: CNL) as was going to buy the stock in early 2019 when it was $1.75 CAD. 10 months later Bob and team delivered a chinese takeaway deal for $5.50 ( cad) as you say. Thought that was cheap at the timeout then covid struck and I think all involved were delighted to be paid in cash. If you swap the CAD reference for pence, then not that dissimilar to the potential moves here eg 17.5p to 55p??
I guess we'll see what Bob comes up with but interesting to remember that Newmont had 21% stake in CONTINENTAL GOLD and supported the $5.50 offer. At the time, I think Newmont looked favourites... not too dissimilar to the NCM/BHP combined holding is it!
Add
Yep several inc NCM
we still missing a number of TR1s?
PS my 'contact' is very optimistic and thinks that Bob shouldn't find it hard...
"Getting bids or selling an asset is easy. "
Wow! Colonel...thats one of your all time great claims...
Its fair to assume that Canadian M&A expert Bob Sangha , who engineered:
Wyloo's takeovertr of Noront;
Kirkland's $24 billion merger with Agnico Eagle;
Kirkland's $4.9 billion acauisition of Detour
Kirkland's $2.4 billion merger with Newmarket Gold
Osisko's successful bid defence against Goldcorp
Arizona Mining's $2 billion sale to South 32
Continental Gold's $2 billion sale to Zijin Mining
GT Gold's sale to Newmont
and many, many other such transactions...
Knows exactly waht he's doing and has been working on it for at least 5 months to our certain knowledge...
Where you might be right is on getting a price that is agreeable to Mather and the CGP guys...
And Mather has always said its about Asset Value rther than Market Value..
And thats where you're also right that an opening bid from BHP or even NCM would be extremely useful in getting the auction going...
And the latter is a useful analogy for anyone who's ever been in an auction room for propwerty, for example....including, the final successful bidder often holds their fire until close to the end of the auction...
But yes...we do need an opening bid from somewhere and then the battle will break out...
Unless Jiangxi starts at £1...?
Good idea novice, especially as nobody seems to care about your departure.
All the best though.
Red thinks there's a bid coming soon. Wish he'd said so before....
I think its the correct decision now to leave BHP out in the cold when it comes to any discussions about any possible sale or JV.... but I'm sure he Bob would be very happy, as would I, for BHP to offer a better, counter deal if they wanted to.. but absolutely, leave them out of the picture right now.
Getting bids or selling an asset is easy. That's not what takes the time or is debated over. It's the PRICE that takes time to agree. Getting all parties to align behind the same valuation belief is the hardest part with compromises expected around. That's business.
It's clear that Bob doesn't want BHP anywhere near this so any deal needs to make sure BHP can't counter it. That's counterproductive from a shareholder point of view as we want a bid war. But I genuinely believe Bob and co are out to make sure BHP do not get a look in at all. How they do it but still gain great value is the big question.
Then again... Bob might just be happy to see BHP pay well over what they wanted to. So scratch the above!
Thanks Add and Red.
I'm impressed with Scott's performances so far, clearly there are some issues that are not clear, but he has relayed strong leadership qualities and it is good to see he is getting to grips with this gravy train.
Apologies anon, I will read your and other posters in silence and give this board the respect it deserves. long and strong ONWARDS & UPWARDS.
Sorry...fat thumbs...
I believe a bid RNS will arrive before any formal SR announcement...
We've basically done the SR as I laid out yesterday...
Why has Sangha been employed for months now and he and his mates with significant shareholdings if this isn't being marketed for sale...?
I believe a bid `rn
Woody, by the end of H1.
Apologies for not being up to speed but someone mentioned we know when the SR is due, I missed that, what date has been communicated please?
My advice is hold and keep some paper dry, more games to be played so more opportunities.
GLA
Agree add. This goes some way to explain.
https://www.proactiveinvestors.co.uk/companies/news/81/idiots-guide-to-the-london-stock-exchanges-setsmm-0379.html
According to this site the mis-match between buys and sells today is significant (in favour of buys) and yet the price drifts lower.
The wonders of the market!
Thanks for the video, DBW!
Scott doing his best to reassure us we ARE moving forwards! With more efficiency......!!!
Novice can't you give it a rest, if I had to guess your age I would say a 12 year old girl.
Your posts are so tedious.
Thank you Troajan
Pinot
:0)
Morning all ...Thank you for putting on Dreamboatwarrior.
Pinot
:0)
Oh I'm back to being filtered again.
(Eye roll)
Now concentrate on making so money for once.
there you go Add, point proven with the appearance of another green line, very easy ;))