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Indeed, Solgold's position has not been stronger than it is now for a few years now.
Sure they know we are a forced seller to a certain extent. But they cannot be certain that someone else will not spoil the party.
That will keep any deal honest.
I would liken it to buying a nice house where the agent has told you that the vendor has had no offers. Do you take the pisa with an offer and try your luck but risk
Pisaing off the guy only for someone else to turn up with a slighty better offer and a clean slate.
I think bulk of brokers had around 75p to 80p targets. Some did have it as low as 50p levels but that was based on 2.3bln shares. So let's go average of around 85p. That's based on 85% ENSA.
85p x 2.3bln = just shy of £2bln. (note GBP and not dollars).
Nothing has changed to the asset since those valuations so on a 100% ENSA basis the above is actually closer to £2.3bln.
Split that by the 3bln shares now in issue and you get 76p.
Why on earth would you think 44.5p is the best we'd get? (3 x 14.8p)??
Seriously... stop focusing on the share price and focus on the asset. What a tier 1 mine is worth in a high demand copper/gold environment.
SOLG was 14p in 2020 and hit 42p in 2022 on PFS news. Most expected at that level that an offer might come in at double that price (84p), some thought higher.
Do not dismiss the extra 15% ENSA. It's very valuable and as a 100% ENSA controlled asset, it's more valuable than when brokers priced it at 78p+.
Noront was 23cents and ended up going for 110cents because Wyloo thought that was the right price to pay. At 23 cents, the market thought a bid wasn't coming. At 55 cents the market thought BHP's offer looked ok. At 70 cents the market was made to look like the dysfunctional casino it really is. At 110cents, the market was shown to be woefully incorrect.
Similar has happened to Wood Group recently. As low as 100p and offers made around 230p+ and expected to be much higher soon.
Don't get sucked or conditioned into talking the asset worth down. Irwin wasn't referring to 600% rise required (that's misleading), he was referring to some posters question about 78p being fair price. Irwin thought that was too optimistic. I guess BHP also thought 70 cents on Noront would seal the deal. You'd be surprised what happens in a bid war.
SharketMare,sounds reasonable to me let's see
300% is at the very top end BTW. I'd be pretty chuffed, given all that has gone on over the last few years.
QP, I don't disagree with any of that, but you have to remember WI's comments a few weeks ago when he claimed (when the SP was 16p) that the numbers in Darryl's presentation were worthless and that the idea of a 600% return from 16p was for the birds. I will be happy if we achieve 300% from here. Unpopular but realistic in my view.
Reading between the lines, it appears we have one interested party, who know full well we want to sell and are up the proverbial creek sans paddle if we don't. In absence of a competitive process us getting top dollar for Cascabel just isn't going to happen.
Red ,thanks for info , hopefully another blue day tomorrow with a bit if news !!:)
Closed at 15.25 on TSX up 9%
CGP closed its last day at $3.59, up 9% and its highest in almost 3 weeks...
Exactly Quadpiece (18.37 post)
Not aimed at you QuadPiece.
It takes a special kind of idiot to rock up to a BB and try and lecture someone who has been invested for the best part of 10 years based upon outdated, uncredited analyst price targets.
Hiy!!!,me candlesticks work fine thank you !!:):):)
Soon lose your shirt if you rely on these works of fiction whether in the FT or not - they're usually cr-ap and notoriously unreliable!
bn.c
I am relieved you have no time to help me, I wander how I managed all these years.
Another one for the bin then...
Theitalian
I truly don't have time to help you here but let me just guide you to what analyst are predicting
https://markets.ft.com/data/equities/tearsheet/forecasts?s=SOLG:LSE
Yes over 400% rise from current price and that is not a joke, it is real it is FT
The 4 analysts offering 12 month price targets for SolGold plc have a median target of 75.34, with a high estimate of 85.38 and a low estimate of 65.29. The median estimate represents a 457.24% increase from the last price of 14.52.
No one have a crystal ball but people have brain and experience. I have been in and out of this few times and made money every single time. Know this for good few years (check my pas posts) and doing investment over 15 years successfully so the only 12 years old here is you who don't seem to understand why you are invested here and what is actually the real potential from this point on.
I am expecting a rapid rise to 25p in the next few weeks only and then steady rise towards 40p in the next few months
Will be ups and down but if you hold and know what you are doing you will be rewarded massively here. No turning back from here.
GL and do more research
IMHO
I think speculation is far more fun and I think it's a good thing that people try to look for clues. Afterall that's what good investers are supposed to do.
Besides what would be the point in a discussion board.
I just get annoyed when people are rude or dismissive of others opinions like they know something everyone else does not. In that regard I think the "this goes to production " and "this will not be sold anytime soon" people are far worse for some reason, almost as if they don't want a good out come.
Monte, like you I hope, but I refrain from making grand statements or fantasizing about scenarios. I admit I don't know and I am at peace with the fact I am just a passenger here.
The Italian
We tried the other approaches and no one bit. Most pi's are now not expecting the big bucks but something more realistic, hence the criticism of the board and Marher over the last few months. Did you not see?
The fact is most of the major players could have bid at any time but did not. Everyone knows that including potential buyers. The reality is someone has to buy at some time, and your guess as well as anyone else's is just that, a guess.
I suggest what may happen.
Others seem to want to tell us what will happen .
Sounds like stockready is selling out tomorrow.
Stockready, are you 12 yrars old? We run around like headless chickens, we don't know what is happening here? Really now?
And tell us, in such clarity and enlightmeny you are bringing to us, how much have you invested in time and money, just to compare notes properly?
Thanks mate
Not just something major happening....BUT I SAY...
Something gigantic is happening behinds the scene and soon will find out more.
I will add more tomorrow
We have seen nothing yet
IMHO
GLA
DYOR
Like your attitude and opinion, Stockready 1.
Patience required as we do not have any new company guidance to date. Just speculation. But what we can deduce is that there IS something major happening behind the curtains.
I can see some frustrated investors here as much as i fully sympathetic to them sadly they are the one which lose most as running like a headless chicken without any idea of what is REALLY happening here.
SOLG is perhaps one it the best copper play of its size in the world with a proven gigantic plays this is set to be one of the most wanted copper/metal company around with huge potentials. This company never ever fail because there is always someone wise who understands the value here and willing to invest and make it come good or big boys take over which still a possibilities right now.
So to me this will keep going up from this point and will break through all time historical level (not in stright line but it will happen if you are patient enough)
Next 8 months looks so promising to me and I am expecting to achieve over 40p or close enough.
GLA
IMHO
DYOR
Orthencopper, NM likes Thursdays !!:):)
not without an offer on the table Bubble