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BHP reportedly going to raise their bid for Oz minerals. Copper stocks on the ASX pumping as a result.
This is how they will try and put fear into us re FOMO re accepting their offer when it does eventually land...
They will say something like ' we have heaps of options... accept our **** bid or we will go somewhere else... ' this is when Sangha introduces Twiggy to the game
Set against the backdrop of the long term demand for copper and the shortage of opportunities, each time Henry makes statements about not over-paying and being unwilling to pursue offers, he damages his credibility.
He would be well advised to keep quiet on this issue and to keep his powder dry. If he really wants to fulfil his strategic objective of greater copper exposure, and given the fact there's a lot of competition out there, he needs flexibility and by making these emphatic statements he's making himself look silly.
The best corporate strategists keep their cards close to their chest.
Sorry addicknt I disagree and so does the article.
It doesn't say what the price is.
But I dare say it still undervalues the company, and so he is being consistent when he says he will not overpay.
Q, I think you're rather missing my point.
He's in a competitive environment and, as I said, if he wants to be successful he needs to react to what's going on around him. He's trying to steal people's assets on the cheap, but the demand for copper makes that an almost impossible task. If he wants good quality opportunities, he'll need to pay. I assume you agree with that?
Not really addicknt, companies can always be picked up on the cheap, depending on their financial situation at any given moment.
BHP and NCM were clearly unhappy with our latest fund raise.
As you can clearly see now we never had a failed fund raise.
It was BHP'S backers to that referred to it in to that way.
We thought it unacceptable and did a 0.6% royalty deal.
It was not an expensive way of raising funds. BHP and NCM could have paid a premium, but they tried to increase their percentage on the cheap.
It just means they will go after other companies that are distressed and pick them up cheap.
BHP will not bid for Solgold unless they can get us cheap.
Given that Solgold clearly offered a " olive " branch to the big 2 in as much as you can provide the next finance for us just as long as you pay X pounds and they turned it down surely that has to be seen as a fail particularly as the wider market were made aware of that fact and they subsequently went down the royalty route but hey regardless of how anyone views the events we have what we have now
Given that Solgold clearly offered a " olive " branch to the big 2 in as much as you can provide the next finance for us just as long as you pay X pounds and they turned it down.
When did this happen? Details please.
Good morning Not2sure.
Let me try an example.
If you need money and try to raise funds but don't like the terms and go somewhere else where the terms are acceptable.
Then to my mind that is not a failed fund raise.
It's good business sense that you get the funding you are OK with and fits your business model.
A failed fund raise would be BHP and NCM were our only chance as no one else would lend us the money.
worth a read as likely the same excuses and charade will play out on SOLG when it happens
Just who are they trying to kid? And off topic... but erm.... that missile was defo Russian and Nato look like they are making excuses or looking for way out... give Putin an inch and he'll take 1000miles.
https://www.afr.com/street-talk/bhp-back-for-another-crack-at-oz-minerals-20221116-p5bypo
Q, my point was about BHP's general strategy - I don't recall mentioning solg. But as you've raised the point it won't surprise you to hear that I fundamentally disagree with you.
I understand why you're pursuing this argument - because you believe it supports your narrative. However, if you step away from the specific for a moment, you'll understand what I'm saying.
Morning Quady , the point I was making is it is rather subjective..I personally saw it as a fail as I think the market interpreted as such..they offered but could not agree on terms which to my mind was a fail and resulted in a delay in raising which had a negative effect on the sp..but my thoughts only and really does not matter as it is done and we have moved on
Addicknt the one thing that has made me a decent investor over the past 40 plus years is I don't have a narrative or world view when it comes to investing.
I look at the facts and follow the evidence chain.
This is what has enabled me to constantly understand the Solgold story and call this correct up to now.
I didn't believe we would JV this, but I now believe that this is the most likely outcome and leads to production for Solgold.
Why? Because this is now what the company are saying.
This leaves the likes of BHP with a problem.
They can overpay or try to become that JV partner.
Personally I would like to see someone else in that role, as I don't trust BHP and believe they might try to increase costs on us during the build making Solgold a distressed sale.
Let's just all relax and see how this plays out.
"This is what has enabled me to constantly understand the Solgold story and call this correct up to now."
Sorry Quady, but this is utter nonsense. You have called it totally wrong up until now, because you believed that SOLG was planning to build a mine at Alpala. We now know that the company never planned on doing this and was bluffing, as per Bob Sangha's statement in the mining.com piece.
You repeatedly ridiculed posters, myself included, for investing in a company whose statements on strategy and the way forward we didn't believe to be true - or knew to be part of a strategy to eke. You said that people shouldn't invest in companies they don't believe to be telling the truth. Now that we know that SOLG was bluffing the market and never had any plans to build a mine at Alpala by itself, are you not asking yourself why you are invested here, given the company has sold you a pack of lies for the last 2 years and you've bought them, hook, line and sinker?
Honestly, I respect you - for the first time - holding your hands up and admitting you called it wrong as you didn't see a JV coming. But there is still a distinct possibility that we don't look for a JV at Cascabel and instead we either sell ENSA or the whole company is taken out. So the jury remains out - please drop the "I've called it right the whole time" schtick, because no one believes it and it's patently untrue.
to eke out a bid*
Morning Sharket
For years he insisted we had all the tools in our locker to take this to production. That is the only outcome we know for sure isn’t happening.
Ok Q now concedes a JV is a distinct possibility which I guess is progress of sorts. My view is a clean takeout of the whole shooting match, I don’t claim to know who when or why but it’s clear all the pieces are being put in place .
Less staff, less exploration, Ensa conundrum being sorted. Hopefully once merger is complete things will gather pace.
Sorry SharketMare your post is ridiculous. I have for nine years constantly called this right.
Every time someone has said this will be bid for and a bid was imminent, I have looked at the situation and concluded extremely unlikely.
So I have constantly called this right.
I really don't understand how you have the cheek to pretend I said anything else.
I think it's time to check your thinking and nuance what I have said.
I have always maintained the most likely outcome, and I have nuanced that as we have proceeded towards production.
I accept fully things have changed. The biggest one being the CGP story. But guess what we are now talking about a JV to guess what. Take Alpala to production.
No one has suggested selling Alpala or Porvenir, but we have suggested selling other tenements.
So that rubbishes the argument that we wouldn't advertise a sale, as that is exactly what we have done for other tenements.
I think it's time you tried to work out how I have called this correctly and you haven't.
To pretend anything else is deluded.
Quady, no you haven't. You have maintained that SOLG will go it alone, find the requisite financing and build a mine at Alpala. That, by your own admission, is now not the plan, and you therefore called it wrong.
Let's see what the outcome of the strategic review brings.
Wrong SharketMare I have always maintained the most likely outcome and reviewed the situation along the years.
Yes I have said in the past we could go it alone. So have the company.
With the CGP situation we seem to be modifying our position and the most likely outcome is JV to production.
What bit of that do you find difficult to understand.
He has been more right than the rampers who have been saying this will get taken out for 3 years……and still saying the same BS.
Most recently spouting it will all be in place before the general meeting……
It’s strange how the rampers on here are convinced that the company will be taken out yet no one in the markets seem to agree with that judging by the sp action, however we have one ramper, very deluded, who is adamant there is a big buyer in the background.
When that happens the sp rises, not drops……
Tesla, he will be right when SOLG starts producing copper and gold from its mine at Alpala. Until then, as Monte rightly pointed out the other day, he (and those who are claiming the company will be bought out) are neither right nor wrong.
I find it staggering that anyone believes this company will exist in 7 years time. We have only just about managed to scrape through 2022. We have no CEO, we haven't had a proper CFO in role for more than 6 weeks for years, and we have a load of people on the board who want the company sold.