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commented:
"SolGold has now consolidated a 100% interest in the world-class Cascabel project. This is an exciting transaction for all stakeholders that simplifies our structure and strengthens SolGold's strategic opportunities. We are focused on maximising shareholder value and advancing the strategic review as a top priority. We will maintain our disciplined approach to capital allocation as we de-risk and advance Cascabel and priority exploration projects."
Just checking on Maxit's 5.1%. Didi they flog the 23m shares they took last year then? Tricky to read as can't see their CGP trades with ease.
Has Forty answered AgArCu's question earlier? Silence please until he proves he's not a teenage boy playing with 50p investments
We will soon find out how many cornerstone investors just want to cash out ASAP now they are able to, after being stuck with iliquid shares they could never shift over on the Canadian market...
Hopefully they at least hang around for the SR result first..
You can bet the MMs will try and mark it down on Monday so we may have to depend on shorts closing...
Any CGP holders that wanted out would have forward sold a fair amount when the price was 18p+.
Small risk if the deal not completing so relatively risk free although it certainly took longer than expected.
Interesting read and good summary, thanks for sharing Fort.
Must admit I'm at a loss trying to get my head around yesterday's and today's trading.
DM, if you recall post merger news SOLG exhibited a very high level of volume for days, weeks, months. Lots of ARB traders involved too -see earlier post.
Now, come Monday (when they get their shares) they might just close out the loan. Or some might have over indulged to keep price low so they had some breathing space to get more shorts closed than shares coming to them.
I'm expecting decent volume next week as some books get balanced.
It's all market mechanics and is what t is.
What bodes well now is that CGP (main holders) are now SOLG holders and the management ramp fest... presentations, PDAC next week etc can all kick off. They will want to make sure SOLG is looking very strong and attractive and surely have some ammo in back pocket after all these dry months to do just that.
Lets see what happens, but my guess is the mm's stand to make more coin if they take the stock up rather than down especially if the door for shorters is a popular one.
Watch out for the usual BB disruption ... you know... the personal insult sort as normally a good sign that some are unhappy and feeling the pressure.
Saddle up... we are now 100% ready for interested parties as ENSA becomes one nice single chunk. Just how they like it.
DM, it would nice to believe the farcical management issues are behind us and that Caldwell, with Sangha's full backing, can push ahead and deliver. If there are any dissenting voices left on the board, I hope they are either removed or simply steamrollered out of the way. If Twigger continues to be as inept as I suspect he is, he should be replaced asap. Now is the time for a period of brutal and effective leadership.
Block seller now turned block buyer lol!
Gotta love ARB
Get in !!,can you buy more please next week like another 10 million !!:(:)
Cgp delist from tsx ,all coming together now ,next week TR1 maybe
Bubble….CGP cease to exist
Two of our board are based in Canada, three are in Australia and one is in Ecuador. And our power base is now in Canada as well. We are not listed on ASX. So, get rid of Twigger, appoint a Canadian chairman and close the Australian office.
Nick may not like that lol
addicknt, any chance we can coax you out of retirement to take the reins and whip them in to shape?
SM, happy to oblige. £4.5m per annum plus bonus should do the trick. When do I start?
DBW indeed ,solgold next
Whos gonna take up them shares on Monday ??TR1?
addicknt
shouldn't be a problem... I think they've got $4m+ missing down the back of the sofa apparently??
DM, come on! This is Solgold we're talking about. Even the cleaner gets $2.6m plus share options.
DM,possibly eats see next week