Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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1984, the only interest bhp have in solg, is rubbing mathers nose in it.
Big mistake him thinking he could take the pss out of the big boys.
As they say revenge is sweet..
They probably wrote the 45 million of as a tax loss years ago.
You clearly have no idea how much money floats around in mining.
Adikt you spin is as always misleading.
the ipa your refering to was signed long before the uptick in violence,
and long before the world wide condemnation of the illegal breaching of a foreign embassy.
funny how you never seem to post the full picture, just the narrative you like to control.
BHPs move for AAL actually strengthens solgold. They are a 10% owner here and if they secure the AAL deal they can dig their heels in on their 10% to frustrate anything other than a knockout bid here
Sure it’s only 10% but it’s a big say
Thats shelfStackEnomics….put something away you think will fall for the sheer fun of losing money
The boards biggest moron takes some beating when it comes to investment advice 😂🤪🤡
So , it'll just sit on the shelf eh. I doubt that will happen eh Stack?
Give it a rest Stakeumup!
When was the last IPA signed, add? Before or after the president ordered the storming of an embassy in breach of the Geneva convention?
I don't think anyone has been left wondering whether he respects international law. He could claim arbitration will take place anywhere, but will anyone besides solg trust him?
BHP proving they have no interest in solg or similar companies is definitely bad news. Even if this acquisition goes ahead, and (stretch) even if it signals the start of an uptick in m&a, it still doesn't bode well for solg. Shame, we'd all like a nice juicy TO, but it's not happening this year or next. 😕
NMM, that wasn't my point, although you're right to raise the question.
My point was that we were told the government wouldn't agree to arbitration outside of the country when they appear to already have done so. Mind you, that's not to say they will agree this time, but at least it's negotiable.
Well we don’t have a kine to sell them and never will despite what one posters thinks, but we do have a resource.
Speaking of said idiot, he’s been suspiciously quiet! Wonder if he’s had his covid booster? 🤪💉⚰️
Hi addicknt
I'd question whether the current IPA still applies. Given SOLG didn't meet the spending obligations under it.
I know SOLG made various proposals for amendments etc...
... but I'd still prefer a revised IPA signed ASAP. Whether International, Chile or Ecuador arbitration.
I could have sworn we were told this morning that this was bad news for us. A bit like the referendum result which didn't change anything. On that point I notice none of the doomsters who told us arbitration would be non-negotiable and adjudicated under Ecuadorean law, have said anything about the revelation that the current IPA specifies Chile as the destination for arbitration.
Agreed Fort ….. add to that the help IMF has just given Ecuador….. real show of faith 4bn
Schlemiel, that bloomberg para really does stand out. Nice find.
"Simultaneously, industry majors probably will accelerate their hunts for other large or fast-growing copper assets to keep pace with BHP."
Anyone know where there is a 100% owned tier 1 copper/gold monster sized mine up for sale that isn't in a super majors hands already??
It's been a very long hard wait this one... but stars are indeed aligning now in 2024 for SOLG.
Nice finish and cleary the BHP manoeuvre this morning has whetted the appetite for the sector 😉
55p someday soon !!!
Worth remembering that this is an all share deal being proposed, so Anglo shareholders effectively become BHP shareholders and that might not be a bad thing in some eyes.
BHP's OZ minerals buy was cash and shows some level of cash spend.
Any deal with Anglo would likely take 12months+ to 18months to complete. There's alot to unpick there and it's going to have the entire sector going bananas soon.
What are RIO Tinto up to these days?? They might fancy a stab at Anglo too. Not that much between BHP and Rio imho. Give ot take £30bln. lol!
Hotting up big time!
I'm still astonished at BHP's move. That said, I can't see it winning through unless they up it by another 5 or 7 billion or so. Can't see Anglo shareholders letting it go for less than £30 a share.
If BHP do fail to acquire Anglo... I wonder what else they will then turn to!
Nice article, bodes well for the patient. Ignore the noise from the idiots
BHP Group Ltd.’s blockbuster bid for Anglo American Plc looks set to usher in an era of frenetic deal-making in the mining business as competitors jostle for position during the energy transition.
The combination would add bulk to BHP’s colossal iron-ore operation and create, by far, the world’s largest copper mining business. The kind of high-quality assets in Anglo’s portfolio are hard to come by, and the shock bid looks likely to bring other suitors into the fray.
Simultaneously, industry majors probably will accelerate their hunts for other large or fast-growing copper assets to keep pace with BHP.
The revival of mining M&A has been a long time coming. The biggest producers got burned on acquisitions they made at the top of the China-led supercycle that began in the mid-2000s, and it’s taken more than a decade for executives to warm back up to the idea of major deals.
It’s arguably taken even longer to convince shareholders they’ll handle them more deftly this time around.
The mood is shifting fast thanks to a new generation of leaders — including BHP Chief Executive Officer Mike Henry and Glencore Plc’s Gary Nagle, who bid $23 billion for Teck Resources Ltd. soon after taking over from the famously cost-conscious Ivan Glasenberg.
Teck’s controlling shareholder proved strongly opposed to letting go of its copper and zinc assets, but the two miners ultimately found alignment on a plan leading them to combine and then spin off their coal assets into a standalone company.
Glencore will have a lot of financial firepower once that deal is done and an undiminished appetite to beef up its portfolio after a steady decline in copper production in recent years.
Rio Tinto Plc, with its particularly iron-heavy portfolio, likely will search for copper acquisitions, as well. However, Western miners face stiff competition from Chinese producers that kept spending during a downswing in the 2010s.
Cash-rich Middle Eastern companies also have emerged as pivotal players.
The contest between miners will be intense, and so will the scrutiny from governments keenly aware of copper’s strategic importance to a clean-energy future.
--Mark Burton, Bloomberg News
To clarify, I don't think we'll be around another 2 years but it might take a two outlook approach to finally push some into taking some action. The point being that any potential bidder knows that short term funding is just time wasting at best. It won't advance Alpala or derisk it at all ... as Alpala needs at least $50m to $100m spending on it to derisk it further or to a point whereby that cash actually looks well spent.
April 25th.... today. 5 days before May kicks in... then 15 days for MD&A deadline I believe... then about 20 days thereafter... d-day for signing the activation clause on the exploitation phase.
They've got about 5 to 6 weeks left of this charade imho.
Pressure is mounting on Bob but market backdrop has improved greatly so no excuses for poor performances.
Orpherncopper... a royalty deal won't hurt the chinese if it ends up being done with the chinese! Osisko is by default a chinese funding player imho. And remember, all royalty deals have buy back clauses that reduce the impact on the asset profitability by over 50% or more. So it's smallfry stuff when you are dealing in multi billions.
Better still, tell us how low it’s going then tell us you’re still holding long because you like losing money for a laugh 🤪🤪🤪🤪
#Stackenomics
No thanks to any more royalty deals... Every royalty deal we do makes the discovery less profitable to any major considering taking it on..
It will be a cheap placing of the CGP shares... At nowhere near the $25 million Scott spoke of them being worth 12 months ago..
Then another 12 months of floundering, obfuscation around whats happening and more requests for support come the AGM. salaries and options all around..
Fort, Jigggg. Another 2 years to hold this puppy! Heck!
Just wish they would clarify our position, mate!
Don’t for one bit believe we will miss the Bull Market tho!
The Wolf of Dubai appears when his mate Eloro gets slammed.
Hows trading been today Suhail you muppet
Why don't you stick your neck out and tell us what price this is going down too?
Point 1 I believe is what is required to pass the going concern test. So that is the funding I am referring to.
They are in no rush to get anything else sorted because snouts are firmly in the trough and it will not be easy to get them away from the trough. Sad to see that you are forecasting out another 2 years Fort. I think that the copper bull market would have passed by then. If Scott cannot flog a tier 1 in a bull market, then he is indeed a buffoon!!
Eloro, sort what funding out?? There's two funding requirements needed before the market will feel it understands where SOLG is going...
1. A $20m raise to keep the lights on ... bred and butter stuff.
2. A ring fenced raise to further derisk Alpala.
In the case of point 1.. that's already a given as we've been told it will be non dilutive. So that's likely based on CGP shares get sold.
Point 2 is a tricky one... some will say Alpala does not need any more derisking... leave it to the next guy etc. Others will say, it cost $60m last year to get us to a revised PFS. mmm! Hence ring fenced cash for ENSA will have to be $50m+ at the very least.
It's quite possible that there might be a 3 way deal brokered that involves, a sale of Porvenir and sale of 5% CGP shares to Chinese along with a 0.6% royalty with Osisko for $50m (also chinese so they'll be happy with royalty deal).
That might see $100m to $200m for Porvenir (and that's for a stake in it not a full 100% ownership). $50m from Osisko and say $20m to $25m from cgp share sale.
That could bring in $250m to $300m in cash and sort the derisking on Alpala through to DFS inc elevator shaft works. Likely to take us through to 2026.
For most... the idea of another 2 years will feel painful... but that pain will be shared by potential buyers on sidelines which might include NMM, FMG, BHP, and a few others. Then ... and only then might they make a move as waiting another 2 years will set them back.
I'd rather see the SR released an confirmation on talks with interested parties that might end in a sale or not etc. That would see us back over 25p+ imho in no time at all.