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Sorry forgot to say thanks Dreamboat for the response.
Can someone confirm if I've got this right:
- Straight merger where they receive 20% of the value of Solgold as an entity equating to 15 Solg shares for every CNR share
And
- Solg have the right to pay for 20% (of that 20%) of the consideration in cash, equating to 4% of Solg shares in issue
Can someone confirm this is correct? If so a few questions:
- Is there a set price that Solg can elect to buy the 20% (of 20%)?
- Does CNR come with any assets?
- Someone has mentioned previously Solg own a % of CNR, how much do they own?
Thanks for your help (to anyone who responds).
Wait for the "sea change".....it's coming! The change in trading volume
is pony at the moment, it will change, and the sun will break through!
Repetitive strain phil...
Every significant event/RNS gets delayed...
They have consistently overpromised and underdelivered..."shock and ore"..."one of the best holes in South America..."...etc
We are permanently on the cusp of some significant news. Unfortunately, solgold has a track record of delays and disappointment.....
Folks is someone able to provide a run-down of the merger deal with Cornerstone? Or point me in the direction of where it's stated. Thanks in advance for any help.
Q, you say the company will be explaining how to move Cascabel forward for the 'umpteenth' time...I wasn't aware they ever have.
RK, good spot RK and it makes sense.
I'm not sure you're right about the SR, although I'd love it if you were.
There wont be a SR addickt...merger completed then bid...
My heart wants to buy, my (risk management) head says enough is enough. I had exactly this same feeling when I bought £200 worth at 1.5p back in the day, couldn’t bring myself to buy £1000 worth. Boy did I regret my sobriety. I hope to feel that sort of regret again very soon!
Dave it will no doubt drift down day on day without news, that much is certain….. it’s just a question of how much longer we have to wait and whether one wants to risk jumping in and out at this stage.
I believe I may have bottomed the reason for the delay...
When I was looking for CGPs accounts yesterday to work out how long $250k would last, there were none filed since the June Quarterly.
The Prospectus would have to be based on the accounts for the latest period for both companies. Therefore, CGP would have to prepare either the September Quarterly and/or the Annual Accounts...and if the latter they would have to be audited...
The clue was also in the 7 December SOLG RNS...
"The Board of Directors of SolGold (LSE & TSX: SOLG) wishes to announce that as part of the regulatory materials required for the proposed merger with Cornerstone, the Company is required to refile its Annual Financial Statements for the year ended 30 June 2022 ("Annual Financial Statements"), with amended auditor's opinions as well as reviewed unaudited interim condensed consolidated financial statements for the three months ended 30 September 2022 ("Q1 FY2023 Financials"
Hence the delay...
Frustrating watching the SP slide on no news, but not long to wait now...
Agreed addicknt we need to hold for the strategic review so the company can explain to us shareholders for the umpteenth time how we are going to move Cascabel forward.
dave, surely the logical answer to that is you hold until the SR is produced? It doesn't seem to make sense to sell when we're on the cusp of potentially significant news.
Of course, I accept it may not deliver what we want, but I'm of the view that Sangha and Co entered this arrangement with a very clear view of where they want to take things - all they have to do now is deliver.
It's a question now of how long do you hold though, there appears no support to the SP at present
Morning Add
Yep funding overhang has gone, major new institutional investors on board ….. just sit back and wait for news. Todays rather depressing share price is no reflection of where this can end up.
Monte, you are absolutely right, everything has changed.
Bearing this in mind, I find it ironic that, having been so patient for so many years, some people are upset the new regime, who've only been in place for three months, haven't yet delivered the SR and are accusing them of incompetence.
As I said yesterday, the company set itself the difficult technical task of completing a cross-border merger whilst simultaneously reviewing every aspect of our corporate strategy - oh, and raising $80m financing as well.
It doesn't get more fundamental than this and it's EXACTLY what many of us have been wanting for a very long time. Give the blokes a chance!
It's only very short-term funding, though.
Perhaps SOLG will be bunging them a quarter mill, every couple of months, forever ?
Monte CGP are happy with the outcome because they were getting very close to stumping up a load of money and as we now see they don't have it, as we are currently lending to them.
I would say if you listened to the company line and ignored absolutely everything that has actually happened in the last 6 months then nothing has changed.
A few things don't fit well with that school of thought.
What Bob Shanga said about that course of action , lots of the top personal leaving in quick succession with no explanation and no replacements . Indigo going as far as mentioning a new strategy when he left suddenly. All the studies being put on hold.
I would say, something clearly changed.
Oh and that's not to mention cornerstones suddenly found enthusiasm for merging after all.
Quady , in this moment I simply cannot disagree with you.
Absolutely love the pun monkey jack off really made me smile… BTW how do you know I’ve said bye bye bye to my money then ? Another game player has shown up lolzzz do your self respect a favour and stop worshipping the fake messiah :)) have a great life buddy
Covgaz if you accept no bid is coming. Then everything the BOD has said makes sense.
We are conducting a strategic review in order to advance Cascabel.
Just ask yourself how do we build Cascabel and remember all the other announcements that point to a JV.