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Where are they? What is their next move re SOLG if any? I always assumed they would bid at some point?
Easyp, I have for a while now been convinced that BHP have lost interest in us and happy to just leave their holding as a token something that may one day one day pay pocket money. Originally they were very interested but have been put off by the messy diverse holding created by , I think, NM. I hope I am wrong and you are right.
If BHP have lost interest in us, why did they vote agianst those Directors...
And why have they twice publicly railed against us raising money through streaming deals...?
I said a while ago that I thought BHP had decided to move on OZ Minerals rather than SOLG. I genuinely think it was them or us and they tried a cheeky one with OZ minerals and succeeded. CGP and NM soon jumped into action when that Oz Minerals deal was announced almost as if they knew they had get ball rolling on an alternative. That all said, I don't think BHP will simply rollover for a Chinese cheap offer. I think they have a price in mind and if Chinese offer more then they will move aside but guess much depends on whether it's lock stock and barrel or whether BHP still retain interest (along with all of us) in the 60 odd licences not involved with ENSA.
BHP might decide to just roll the dice again and see what SOLG can deliver through rest of folio. If NMis so sure there are more Tier 1's there then why sweat it over ENSA? Let that one go and see what comes up next? Hence ENSA deal done then BHP might be happy with that.If deal done for all of SOLG, then that might see BHP come out fighting a bit more.
Many out there interested in Tier1 assets and Chinese are not the only ones looking good at the mo in Ecuador.
Colonel...BHP's original bid for OZ was in August...
SOLG/CGP talks had been well underway for months by then...
https://www.bhp.com/news/media-centre/releases/2022/08/bhp-announces-non-binding-indicative-proposal-to-acquire-oz-minerals-limited
BHP were always going to vote and show they are not happy. I think the fact that both NCM and BHP did not issue the required (decorum under market rules) TR1's shows they are seriously hacked off. Their game plan has been ripped up and turned into shreds.
When CGP get their shares, BHP and NCM should drop below 10% but even then as they are outside UK, they are not 'forced' to declare holdings but like I said... it's the blue chip calibre thing to do. Sadly neither NCM or BHP look very 'blue chip' these days.
not sure what you're implying but timings wise.... you had SOLG and BHP talks going on around June/July - then you had what looks like BHP walking away and a failed funding round by SOLG.... then you have Oz Minerals BHP bid a couple of weeks later.
Looks pretty clear to me what happened!
Topped-up tvm.
https://www.zerohedge.com/commodities/extremely-tight-market-could-push-copper-prices-record-highs
"Dubbed ‘The Big Australian’, BHP is now the biggest share of the S&P/ASX 200 Index (ASX: XJO) by market capitalisation.
Over the long term, it is probably considered to be among the bluest of blue-chip shares. It is certainly a cornerstone of many retirees’ portfolios. "
https://www.fool.com.au/2022/11/23/macquarie-is-cooling-off-on-its-outlook-for-bhp-shares-should-you/
Colonel...I didn't have any of those things...did you read them elsewhere...?
Precisely my point... if they were blue chip quality in terms of market regs then they would have updated their SOLG TR1 after the Chinese equity issue dropped them through 13%.
But we got diddly squat didn't we. Same for NCM.
Very shabby for an apparent blue chip.
Fort you are comparing apples and oranges. You are aware that Oz is a producing asset. The rationale to do that acquisition is different from potentially acquiring SG.
you best get a better sauce then.
brown or red
let me guess... 'red'?
Yes well aware.... it's a trait of late.... majors buying producers rather than large big Capex projects that take 10 years to turn a profit. They seem to want 'profits' in exchange for the cash outlay on a 3 year payback basis these days. Chinese are more long term visioned.
January 2023...
"Stocks that are considered blue-chip stocks generally have these things in common:
Large market capitalization. Market cap is a measure of the size and value of a company. ...
Growth history. Blue-chips have a reliable, solid history of sustained growth and good future prospects. ...
Component of a market index. ...
Dividends."
"Should you Buy into this Blue Chip Gold Stock
NewCrest Mining Limited (“NCM” or the “Company”) is the largest gold producer listed on the ..."
https://www.aceinvestors.com.au/segment-specific/1/blue-chip
Red Knight I admit to being perplexed re BHP hence my post so thanks to all who responded. I am surprised that BHP have not shown more interest in SOLG but maybe they will reconsider that in 2023?
https://oilprice.com/Metals/Commodities/Extremely-Tight-Market-Could-Push-Copper-Prices-To-Record-Highs.html
easyp, I think I'd dispute the claim that BHP have not shown more interest. The fact is they've invested a good deal of cash and, over the past two years, have become active investors - albeit not in a positive way.
A huge wedge has been driven between the company and them and the key question is, how will they eventually react? back-oof and slink away with their tail between their legs; or stand and fight? Mt money's on the latter.
easyp
BHP have been trying to get us on the cheap right from the off...............
the way they have conducted themselves is a disgrace!
r's
bn.c
I think that most of us can agree that the current share price is a farce, and way under valued - when compared to the potential asset value in the ground ?
As shareholders, we surely need our directors to sort this out !?
No more (apparent) lifestyle milking of shareholders year after year.
Please get on and deliver some significant shareholder value !!!
Aimho