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I have to assume that the merger is def going through then
Just read the latest RNS everybody.
Surely now we understand that we are going to build Alpala and bring it to production.
Q, how do you infer that?
I dont see thar but we can all have our own fantasies
The experts we are bringing on board are about mine design in open cut and block cave, and not only design but construction to bring about a producing mine.
As soon as I read the RNS I just knew that you'd focus on Caldwell and ignore Vujcic. I suggest you read his cv as well - you'll get a more balanced picture.
I didn't ignore him. He's the money man.
Mr. Vujcic looks like a very good appointment with a great track record.
On to production we go ;-)
Putting the confirmation bias to one side, nine board members for a business of our size strikes me as excessive.
I know the new guys are the CGP nominees, but this number of directors are not necessary over the long term...which leads me back to my own confirmation bias.
Dan Vujcic is a former Investment Banker with Jefferies. He has direct M&A experience but was not on the CGP Board.
He is a connection of Ingo...
"Experienced Chief Development Officer with a demonstrated history of working in the mining & metals industry. Skilled in Client Coverage, Business Development, Acquisitions, APAC, and Investment Banking. Strong business development professional."
Getting ducks in order ahead of AGM. Now... it really would be ideal to get that 20% CGP vote slice done and dusted 'before' the AGM. November arrives next week.
Certainly looks like bridges have been raised and BHP have no where to go come this years annual meeting. Makes a change! Well done SOLG.
More salaries ,funding cash burn ,so you think it's going to production?,think again gla I want £1:32.
TheItalian, clearly they are completely confident it's going to happen. These premature appointments confirms my view that something will be announced prior to the completion of the merger and, quite rightly, CGP want their voice heard around the table.
Dan looks capable of mixing it with the big boys although the CSA deal is peanuts compared to SOLG and ENSA.
https://www.glencore.com/media-and-insights/news/metals-acquisition-corp-to-acquire-csa-mine-from-glencore-plc
Perhaps Dan has been brought in as he's the man to bank the 6.7% SOLG shares for a cheap mates deal??
Metals Acquisition Corp holding 6.7% in the near future would not surprise me one bit.
My only concern here is that the old school SOLG CGP bunch seem to have a habit of feather their own pockets ahead of significant transactions. Not exactly unknown in markets and if anything an ugly but regular occurrence. But the worry is they line pockets at lower levels which makes lower offer prices more rewarding to them. Mmm.
The irony of it is that many of these old school guys still think Cascabel is theirs... their little baby even after they've the bejesus out of the markets.
That 6.7% SOLG holding is a xmas gift to insiders imho. But lets wait and see how it unfolds and park the cynical stuff until pre AGM. Resolutions will need to be presented to shareholders in November assuming they stick with Mid Dec 2022 AGM. Assuming they have the voting weight that they expect post CGP deal, I'm expecting them to paint the town red with resolutions that arm them to the hilt. BHP and NCM now effectively useless and having almost zero control.
Hubris
I’m hoping for / expecting CGP shares to be placed in excess of 20p …. To get that kind of stake should always carry a premium
The volume is still dire... even at just 15p and supposed corporate action, there is no market interest.. zero institutional buying. People expecting circa 80p- £2 are going to be very disappointed if this is ever monetised in the near future..
Orthern…. Depends who wants it
So an obvious question would be, If its going to be sold, lets say at 50-75 pence, using your example... why is no one buying as many as they can now on the open market at 15p?
Most on the inside won’t be able to and the penny not dropped with retail investors….. it just needs a spark to start the fire
Every mining focused investor knows about Solgold and its story... and will have followed it over the last few years... but still after the events of the last few weeks.... no volume or real sizeable interest at 15 pence....
I still hold here (Im certainly not selling in these lows) Its just no one can answer the very simple and obvious question, that holders should be asking themselves.. listening to, and taking at face value, the constant echo chamber here, of a sale happening any minute, leaves questions..
Even now, after recent news, I don't underestimate our boards inability to close a deal.. (regional joint ventures from a year ago???).
I don’t think ( in this market especially) anyone Will believe an offer is coming until they see it in black and white . Those who think it is are the ones willing to take the risk .
Hubris
Nick has always said any sale would have to value Cascabel on the value of the project not the market cap , Irwin said the same, I’m guessing they’re both fairly content at the moment judging by recent comments via DGR and Irwin’s Twitter feed
I don't think it's possible to over-emphasise Sangha, Irwin and NM's response to the situation. Anyone who harbours any doubts as to what's likely to happen should focus very carefully on the reaction of these three and, in the case of Sangha and Irwin, their willingness to sign the lock-up agreement.
They simply would not have agreed to this if they were not happy that a pay-day is on its way. You can forget all about production etc, etc, it's not going to happen. Were they presented with production as being the preferred route they wouldn't have signed and I think we could pretty much guarantee they'd be tweeting away about management incompetence etc.
Add …. Spot on