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The one route which is in our control and not dependent upon outside influences, is the stated option of spinning-off certain other assets into a publicly quoted newco. I wonder if we're heading in that direction with our approval being sought at the AGM?
They should absolutely be doing a spin out and IPO. What have they got to lose? We will find out if anyone is truly interested. I don't buy this BS that it takes ages to get through all the dd data, that's just a delaying tactic. Interested parties would know within a couple of months if they wanted it, if not weeks. If someone wants this they will bid, lets find out! If no one bids, what have we lost? At least we save time by not having to wait forever for someone to make their mind up.
KapilD - have you seen how many IPOs are making it to the market at the moment?
Barely any is the answer. Numbers are well well down as the hamster wheel that is the primary market has stopped turning.
Yet here you are calling for SolGold to IPO a spin off in the near future?
One certifiable way to destruct value in the short term and one possible reason why the SR has continued for longer than many expected.
It's fine that you don't rate certain SOLG CEOs past and present but trying to IPO a spin-off in the near future will not create value in the short to medium term.
The time has come for patience.
AD …. Re DG’s post and Scott saying he felt the share peas at the bottom now ….. how could he possibly know that?
Peas = was ….. pub typing sorry
Peas indeed DBW! That will be all we will be able to buy given the tanking SP!
Lol Eloro you may be right
I see it differently that’s all
I think a JV or farm out on some licence blocks possible but spinning out or IPO's are not likely to help at all as they take months to resolve. By March 2024, I suspect the auditors will be asking Scott for that $26m he spouted about in past presentations. He'll need sp back to 18p levels to achieve that with the 100m CGP shares.
I understand the benefits in getting a revised PFS with lower capex as means more interested parties can get involved. That might be the likes of Endeavour Mining... or Wyloo or Lundin etc. But the irony is ... how long is it going to take thereafter for these new parties to do their due diligence and make an offer or do a JV?
I think what Maxit are trying to do is to extract a bid from BHP or another (could be chinese etc) and have realised that all they need to do is get someone involved that is credible and willing to finance a phase 1 development which based on $1bln capex. When that party signs up... that's the trigger for the bigger fish to act or else... lose the asset opportunity.
A while back, earlier this year I think a Broker cited that the most likely partnership for ENSA would be a consortium. Eg a mix of names like Mirador has with Newcrest, Lundin, Codelco and the Chinese.
Like I said a while ago... if Scott ot Maxit deliver a JV on some of the high priority regionals with someone like BHP or Rio or Lundin etc... then that might be worthy of voting positively at the AGM.
The market would nuts (positively) if SOLG announced a JV with a super major on 3 or 4 licence blocks all fully funded by super major and drilling to start immediately. But lets get real here... why would a major want to do that? Why boost SOLG's share price when they may as well buy the lot on the cheap (if they can) and then have 60 licence blocks and a tier 1 mine.
Tricky tricky.
Boz the damage is done mate, Scott's incompetence has done that. My point is there is very little else to lose, why not try something different. It doesn't need to be a massive IPO, I feel its worth a try to potentially flush out a bid, and if a bid doesn't materialise how much worse off can we be than we already are?
Scott as the CEO ultimately has to carry the can but it's really Bob and Maxit that have failed to deliver anything. If they had achieved something then Scott could announce it. Trouble is... when you have very little to say, you look a bit of a tool.
Shareholders tend to looks for someone to blame but all I can say is that in this market (today) it's tough to gain any traction or credibility as no one is listening. It's the kind of market whereby Maxit could say... we are in advanced discussions and likely offer will be significant premium to current sp blah blah blah and the sp would probably nudge up 20% lol and then fall back.
Remember... it is of no interest for Scott or Bob or Maxit to line 'traders' pockets. So they have no interest in creating near term spikes in the sp that simply allows a few to exit or some newbies to cash in.
The only way they get their pay day is they do a monetisation event that involves a significant buyer. They have 800million shares to offload (including Mather and his crew).
They need an exit ... not a few share price spikes. They can't sell into any spikes as volume demand not there. Only reason Chinese were able to pick up 1&+ in open market was largely down to mopping up Blackrock's stock.