Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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.
I don't know why the Chinese are so conveniently forgotten. Rest assured they (meaning some SOE, they pretty much all pull in the same direction when it comes to resources) read the PFS and stand ready to fund anything Solgold needs. They have a well established playbook they play by. Company will issue 9.9% of new shares at a price premium to China-co, and China Co will inject X amount of money into a 50:50 JV for the development of said asset. Look at Ivanhoe mines, Xanadu Mines. China has not been a net buyer of US treasuries for a whole decade, where could they have been spending all their money? Buying up all the copper-gold assets it can get its hands on in jurisdictions outside of Western reach. They are ready to do the same for Alpala, and there are only two reasons why they haven't. NCM and BHP, and the ball is in their court. The company doesn't need to worry about raising money in today's environment. China can't wait to pour money into Solgold.
That is baseless ramping. I don't visit boards to read what cheerleaders have to say. Any fool can look for one or many reasons to buy any stock, just read any company presentation. I trawl boards to find cleverer people than I who have spotted lies and flaws which I cannot, which is plenty. And I am very long Solgold.
The hypocrisy of shareholders knows no bounds. The number of people here banging on about how good mining is for Ecuador is laughable. There's really only one reason a shareholder like that cares, and it's certainly not the welfare of the Ecuadorian country or people.
I neither agree nor disagree with the Vice president since I have no economic interest in INV. I would however suggest that the current market cap of INV means no one is sure if what he said carries weight or not. All politics is local over there, and it's hard to take the word of a government whose approval rating is in the single digits seriously.
What do you think are NM's possible strategies (presumably for retaining unchecked power)? This is what I would like to use a forum for.
Are you aware of the local opposition issues surrounding the Loma Larga property, and the vote on Feb 7 (same day as Ecuador general election) that will determine whether mining will be banned in the Cuenca province? That's where the Loma Larga property is located. Hopefully your level of research into Solgold is more thorough because what is passed off as good research on forums is nothing more than group think and the search for the emotional comfort that comes from knowing other people feel the same way. That Solgold should bid for a company that could be worth nothing in 6 weeks is ridiculous. It's priced at £30-40m and only good for a gamble unless you have specific knowledge as to the outcome of the vote. Gamble being the operative word.
They cannot act in concert to simply buy up to 51% of the shares on issue without making an offer to all shareholders. They can however creep their way there over time if NM is unable to fend them off. Robert Friedland was fighting the exact same battle in 2011/2012 that NM now is, to extract maximum value from a sale of Ivanhoe Resources or its share in Oyu Tolgoi and look how that turned out.
In fact, just take a look at Turquiose Hill Resources share price since then and how much trouble Rio is having with Oyu Tolgoi before so casually going 'we're definitely going to sell for top dollar' or 'we're going to production' because one has to be incredibly stupid to assume those are the only outcomes possible because incredibly bad ones are possible as well.
I don't need the company to be taken out for top dollar, I just want decent coin for it so that the risk of further exploration, development etc can pass on to somebody else.
I do not, and will never doubt NM's commitment to loyal shareholders, especially small ones but remember that whatever happens from here, NM is going to come out well ahead, and likely to make a comeback like the kind Robert Friedland has in the DRC. Can you say the same for yourself?