Member Info for addicknt

I'd also add that perhaps DC is seeking a deal simply to sell Cascabel, knowing full well we can repeat the trick elsewhere. Of course, if BHP launched a hostile bid it would be for the whole lot and we'd get the square root of fa for our other valuable assets. In other words, a deal like this would protect our longer term prospects.

Oh no I'm not, Q.
My theory posits that DC knows exactly how vulnerable we are and is fighting a rearguard action to ensure we get decent value. He knows we'd lose a hostile bid and has come to the opinion he can get a better price via an agreed deal.

DC has met with BHP and discussed the way forward. He's told them that he's prepared to do a deal with them on an agreed basis if they will hold off until after the PFS is released. The argument being that he wants to see by how much our valuation increases before entering into detailed negotiations and which will provide a base case for discussions.
This would save BHP from going down the hostile route, which is time consuming, costly and uncertain - as their recent attempt with that Canadian (or was it American?) company proved. BHP can't afford another humiliating defeat, neither can they afford to lose SOLG to a competitor, so they've gone along with the proposal. Discuss.

medar, yes they do. They know that Solg is worth far more than its current valuation, and no one's going to disagree with that.

Morning, DBW. A Range Rover's bloody expensive, but that doesn't stop it breaking down every 35 miles.

You make a good point about the veracity of the article, particularly the possibility that it may have emerged from the company.
Harking back a thousand years to when I worked in corporate finance in the City (I know, people get ridiculed for mentioning their past careers), these sort of articles would appear regularly (The Evening Standard was a fecund source of rumours) and it was part of our task to establish whether they were true or not. This involved talking to journalists, brokers, friendly competitors and the company in question, particularly if it was a client. If the company share price had been languishing in the market, or it was underperforming, it was often the case that it was the source of the leak (I happen to think that this is not the case here).
The other thing you looked for was how the article was written - did it feel right; did it contain reference to something specific? In this instance it's the reference to a meeting between the two CEOs that sparks interest. If we assume one did occur, what else could have been on the agenda other than their interest in SOLG? A takeover of NCM by BHP? This doesn't feel likely as gold is not BHP's direction of travel.
I'm trying to avoid confirmation bias, but the whole tone of the piece makes me believe that this time it may contain more than a grain of truth, particularly as the logic is overwhelming.

I asked whether anyone had approached the company with regard to the interpretation some on here made of DC's comments about future news flow; the assumption being that none would be released until after the PFS was published.
As no one appeared to have done so, I did and have now received a reply from Fawzi.
He says that DC said that the priority and focus is the release of the PFS, but that he made no mention of whether any other news would or would not emerge. So, maybe there will, or maybe there won't.

Sorry to disappoint you, but all of those companies listed are not 'institutional investors', they are nominees and are simply holding the shares on behalf of retail punters. It amazes me how often people get confused by this. The Citi holding is different.

BM, you seem to have written a note to yourself setting out very clearly the reasons why you should sell. If I were you I'd take my own advice.
I'm not known as a Mather groupie, but in this instance I'd point out that he isn't being paid more, in fact it's bound to be substantially less (you are confusing a one-off loss of office payment with ongoing remuneration, which was contractual, although it does stick in my throat a bit). You talk about "premium committees", what exactly are those ? There's nothing "premium" about them, they are simply normal arrangements that every company has. And as much as I wanted to see the back of Mather, I do accept he does bring something to the party - pro-tem. My fear was that DC would become Mather's patsy, but having now heard him I'm content he will be his own man.
Yes, there have been delays, which are frustrating, but I get the sense DC is bringing a far greater focus to the business and I for one feel far more confident now that we've heard a bit more from him as he set out his short term plans.
The company gave a commitment to Cornerstone to "maximise shareholder value" and it's patently obvious - by virtue of their silence, that they are happy with the direction of travel. His "Plan A begets Plan B" statement is as clear an explanation of how the board sees shareholder value creation, and I can't find fault with it.
Obviously, whether you sell or not is your decision, but it would seem odd to do so given that we are closing in fast on one of the key moments in this company's history.

If anyone really wants to understand how Putrid came to power and his relationship with the oligarchs and kleptocracy, they should read Putin's People by Catherine Belton. It's the definitive description of how this awful man rules Russia.

Has anyone asked investor relations if there is a "media blackout" until the PFS? If there is, it strikes me as being very odd.

Slug, you are wrong. This isn't a normal situation and it's not the time to be making a profit out of abject misery. In my opinion it's akin to buying shares in IG Farben or one of the German weapons manufacturers during WW2. Personally, I find what's going on with Poly etc, utterly stomach churning.

Sorry to say this RK, but I hope you lose the whole lot. I consider supporting any Russian business a thoroughly amoral act.

Novice, well done for taking on those idiots on the EUA board. Some truly awful people have crawled out of the woodwork and taken occupation on all of the Russian stock boards. The worse thing is they live among us.

We humans, particularly in the West, have a tendency to be reactive and rarely predictive. We wait for the solids to hit the air conditioning and then go into full-on panic mode. Ukraine is just the latest example and here in the UK we have done it with housing and our woeful energy policy.
The writing's on the wall in Chile and you'd have thought the likes of BHP will be taking all measures to find alternatives. Alternative production will need to sourced asap and BHP don't have too far to look.

So, they are indeed using those figures.
Am I correct in thinking the current copper price is circa $10500 MT?

Thanks, Jerry.

LM, I was quoting from a post on the GGP board this morning. I assumed it was an updated report.

we discussed possible commodity price assumptions for the PFS. I note that Hannam, commenting on GGP, have assumed 1850 for gold and 8500 MT for copper.

Thanks, DBW. As anticipated, nothing new to report.