We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
interesting how the article on CGP failed to mention the scenario if they don't get bought, re the money they will have to pay us to keep their share.
They are sounding more desperate by the day.
We will find out soon enough whether a major pays a bit more for their stake than what we have offered them.
If no other bids come for CGP then they may indeed choose to accept it.
Hi Miagi, agreed, the point I was alluding too, was that, you thought a major player might bid for CGP. that would give CGP what they want. I agree their leverage is almost zero, unless we are missing something, or their is another development. I also think, the fact that the offer to purchase CGP, expires before BHP is released from it's standstill agreement, has scuppered CGP's sale to anyone else. All the best.
Quady, you're preaching to the converted. Yes I'm of the firm opinion that buying SOLG first is the best way for any major to go for multiple reasons (as we discussed over the course of July). The point I was making was that Rc2's statement was incorrect - CGP do not have the leverage that they may think they have.
The first 3 paragraphs of that article are ok. It then moves on to say how CGP shareholders bought at a much higher price, how BHP bought at a higher price - ya di ya - so what?! It means absolutely nothing.
The last paragraph has a number of fallacies:
"Cornerstone has rejected" - incorrect - the CGP board have rejected it. The offer is still open.
"Newcrest recently pulled its director off the SolGold Board due to its displeasure with how SolGold was financing development of the Cascabel Project" - unprofessional conjecture but written as fact in the article.
"Cornerstone’s Ecuadorian projects" - correction - project (singular). The rest of their stuff is ca rp.
Good morning Miagi, ask yourself a question. Why if the Solgold offer is so bad, their hasn't been a flood of offers for CGP. It's because, nobody wants it on the Terms of the 15% holding of ENSA. Only Solgold will bid for CGP.
Ask yourself, why would CGP, threaten to take out the Solgold board, after the Solgold offer has expired. It makes no sense. This EGM, will not take place.
I think they are trying to make themselves attractive to another suitor. They are deluded, if they think BHP, will buy CGP, after 15th October, and subsequently their share of ENSA. That would just mean, that they would have to pay more for Solgold, as 15% of ENSA, gives them no say, over the development of Alpala, which is what this is all about. The PFS is going to happen, FN funding is going to happen, The interesting bit, is what happens to CGP. Not long to wait for this part to play out, once BHP say not interested, there will be no EGM.
Rc2, "if you want 100% of cascabel then up your offer or someone else might buy us and you don't get rid of your 85/15 split problem"
That's would not be the case. We can assume that whoever takes CGP's stake (if it happens) will be a major player. And as previously discussed, ad nauseam, that would in all probability trigger the final end game for SOLG as well. BHP not sitting aside watching etc etc...
CGP have made no secret about being up for sale - this has been the case for years now. It's nothing new. It's one of the main reasons they all hate NM's guts.
Morning all
That article smack of desperation on The part of CGP.
Please will someone buy us before we are worthless
Thank you Colonel, Very precise summing up. It's going to be interesting. As I said at the start, no one is going to bid for Alpala, apart from us, for so many reasons.
I would appreciate your and anyone else's thoughts, on the CGP offer by Solgold.
Does the offer preclude them selling their 7.6 % Solgold holding on the market, and then taking our offer.
If they were to sell all the Solgold shares, give out a special dividend, and so dispose of the cash, where does that leave our offer. Does it get reduced.
Schlemiel, my view is that NM will not take this to production but has to in the meantime proceed to a PFS and a DFS to avoid getting a low ball bid. If he gets a really good bid for Alpala I think he will sell and hopefully keep the balance tenements and prove them up. At his age and without experience of actually setting up an operating mine I don't see him taking on a task of this magnitude if he gets a very good offer
Good morning Italian, I think you will find that Solgold does not have first rights to purchase CGP, I believe it's first rights to purchase the 15%, of ENSA. All the best.
Good morning Schlemiel, he is serious about going to production. He is slowly putting in the people required, and only when required. He has Ingo sorting out the finance, and working towards a PFS, and DFS.
What's Mather's end game? Is he serious about going to mining or is that a ruse to achieve funding to PFS to prevent a low ball bid ?
The article is materially incomplete and misleading by not mentioning Solgold's acquisition rights in relation to Cornersthone's 15% interest in Cascabel. That is what is actually driving the frantic posturing going on
Yes, articles like this, their Twitter posts, the contents of the takeover rejection... Just a massive for sale sign.
I assume the message to Solg is, if you want 100% of cascabel then up your offer or someone else might buy us and you don't get rid of your 85/15 split problem.
CGP is offering itself up for sale hence the article. The contents are almost an irrelevance. Is corporate action just around the corner? NCM's removal of their SOLG appointee and now CGP hawking itself around to the highest bidder, one would think so
I'm currently holding GGP, SEE and FOG and might join in with some here
GL
That is another pedantic and one sided commentary about CGP. And they "forgot" to mention that SOLG has first right of refusal over CGP, and the real effect of that is such that even NCM, who are in bed with CGP, are not bidding for them. Absolute clowns, no dignity in not accepting they were outplayed by SOLG ay each step of the way.
One-sided view of a complex situation as seen from a Cornerstone point of view! But taken on-board.
It was produced by warrens almost in house mag. It writes up his uranium picks as well.
https://resourceworld.com/cornerstone-capital-exploring-ecuador-copper-gold-prospects/