Member Info for addicknt

Bozi, there are quite stiff penalty clauses on both sides, so I don't see either party walking away from the deal.
This is caused by either a delay in the final approvals from whichever Canadian authority is involved, or, more probably, something else is going on with regard to the SR but is not yet finalized. Either way, it's bloody frustrating.

silence is deafening.

Surely we must listen to what our new masters are saying and not unnamed 'bigwigs'? (typical Daily Mail description)
At no stage have I heard or read any one of them state that their intention is to take this to production (I'm referring to Sangha and co, not the out of date web site) These people are in charge now and it must be safe to assume they intend to deliver on their promise.
These boys sold the merger deal to their own shareholders on the premise they'd deliver a near term deal, and we must not forget that the CGP shareholder base will form a significant voice once the merger is completed. Do they really want even more disgruntled shareholders on the Register? Doesn't seem likely to me.

SM, last week someone posted something from the company along those lines, but, as you correctly point out, this is SolGold.

SM, it seems to me that the delay is likely have been caused by us not wanting to issue the Prospectus until CGP have cleared all of their conditions - in other words, the deal is done and dusted. As it stands, and as i pointed out earlier, it appears they still have a few boxes to tick.
Equally, we may be waiting to be able to issue something positive from the SR, which as an exercise would take longer than the preparation of the Prospectus.

To answer my own question, the answer appears to be the requirement to satisfy Minority Protections under M1 61-101...whatever that is. I don't know if this has happened or why it would cause a delay.

Btw, each time I look at their Information Memorandum I find something new. In this instance, the revelation that Maxit will receive approximately Can $4.3m in fees for representing CGP. Given they don't have the cash I assume it will come from our pot. I imagine our fees will be of a similar magnitude. That's a nice little chunk out of our newly raised cash balance.

know, the Final Court Order giving approval for the merger happened on the 10th of Jan. CGP's announcement stated that subject to further approvals being obtained the transaction would conclude at the end of the month.
Does anyone know what those further approvals are?

Bozi, crikey, you've got a good memory!

Dbw, whatever is eventually announced it's going to have to be pretty seismic to move us away from the fairly narrow band we've been trading in for what seems like a lifetime.
God forbid they come up with some anodyne waffle about looking for jv partners/selling off concessions/ optimizing production plans, blah, blah. In other words, I sincerely hope they don't simply repeat themselves. They need to produce something concrete, such as a firm proposal of some description. Failure to do so will take some explaining.

Just pointing out the facts, Bozi.

Scrat, yes you are correct; they bought the first tranche from Guyana Goldfields (from memory). Over the following years we then tapped them for more cash and thus allowed them to increased their influence, which was a mistake.

Not2sure, I'm not sure it was a question of too many chiefs, but has had more to do with too many masters with very different ambitions.
I've said it a million times, but the moment we invited BHP onto the register we created a rod for our back. Could we have got this far without them? In my view, yes we could. Thank heavens we're now in the hands of people who understand this and have no intention of letting BHP dictate our future. Or rather, they can dictate the future, but it'll cost them and we won't be part of it.

Q, are those the properties we've been trying to flog for at least two years? As it stands, they're pretty much worthless and certainly won't deliver the sort of value Sangha and co a want. A total red herring, in my opinion.

Tesla, in some ways I don't disagree with you. However, I believe the productionistas vastly underestimate the long term risks and only see a smooth and simple path to the sunlit uplands. I'm afraid I don't see any investment in those terms, least of all a small explorer.

Jerry, now that is interesting! Thanks. Btw, congrats on your long-time prediction that NCM would fall victim to a takeover.

Tesla, it seems to me there's a difference between 'wanting' a return on their investment and 'needing' one. I rather suspect most people on here are in the first category and who doesn't 'want' a return?
Turning your hypothesis on its head, the idea of waiting another six/seven/eight years is not in the least bit appealing for most private investors and, I would wager, quite a few of our institutional investors. The risk of failure in pursuing this to production is very high. There are many obstacles for a small explorer, not least of which is our inexperience, particularly for such a large undertaking.
So, whilst you may deride those who want to see us cashing-in on our excellent discovery, it's very easy to see the flaws in your wish to attempt to take it to production.

copper, now you've really insulted me!

copper, two great games. My daughter-in-law is Irish and my grandchildren are very conscious of of their Irish heritage, which make's it difficult when it comes to the Six Nations - my son being a staunch England supporter and pretty useful player in his day.
Like any sensible Englishman my affiliations are as follows: England, Ireland, Italy and then it gets tricky!

headline of today's City Whispers column in the Mail on Sunday is; " Miner SolGold is target for rich seam of rumour".

RK, I'll be sort of happy with a jv provided it delivers a special divi of at least 50p. Otherwise, forget it.