Member Info for addicknt

Quady thinks the company is worth £5bn. Fair enough, it may well be - in fact, let's hope it is. But the weird thing is he thinks no one else will see it that way and be willing and able to pay that amount. This is one of, if not the most valuable new asset in the world of mining and as for affordability, there are more than a few players who can pay this amount without really blinking. And this is where his argument collapses. (the diverse book thing is just tosh)

iceberg, I agree, it was both necessary and may well have happened in any event.
My point is that CGP acted as the catalyst and it was one of the only strong points of their defence.

so you don't see any connection whatsoever, iceberg? The CGP defence document exposed this issue and it was quite clearly a problem. The fact the company has reacted is to be welcomed, but I'm not sure they would have changed on their own. Mather was too comfortable being surrounded by his placemen and the appointments are excellent news.

smickster, agreed, it's a very good thing for us shareholders. I also agree this was driven by CGP - the timing was just too coincidental.

smickster, not sure I understand your post. You appear to think these changes are a bad thing?

More naive nonsense, borne out of a complete lack of understanding of the corporate world.

I think I'm filtered by Quady, but I have not reciprocated and I note his latest post, "we may get a bid, but we need some evidence first". Erm? The evidence will come in the form of a bid and unless there's a leak we won't know until an RNS appears. So, how on earth CAN there be evidence?

Monte, the answer to your question is when you go first you don't have the benefit of a benchmark. You may price it too low to be taken seriously or, your implied value is too high and your hand gets bitten off. In a contested situation there's little to be gained by going first.

Thanks, schlem, good find.
Of course, what this means is that BHP most definitely won't want to own all of SOLG and will be happy with it's minority holding. I mean, who'd want to own one of, if not the most, important global discovery of one of the most critical metals? Nah, they'll sit back and let some Chinese outfit gain control...it's just not worth the effort.

So, you've not been given any inside info and are not talking to NM direct? Did you expect your source to say anything else?

shipright, how? Supposition, or evidence?

DrQu, I think there are two separate issues: 1)NM's position and 2) the Special Resolutions.
We can be pretty sure CGP want NM out - they've said so, and they may have garnered some support for this, possibly from NCM. But they need 51% to win and unless BHP have signed-up, I don't see them winning the argument.
As far as the Special resolutions are concerned, there may be those who'd prefer NM to consult shareholders before a significant finance package is agreed, e.g, me. I would anticipate CGP and NCM will also object . BHP's position is unclear, but given what's happened recently with regard to funding, I think they'll vote against. I consider these motions to be the ones where he's most at risk and not that of his own tenure.
In other words, shareholders may want him to stay in position, but have objections to giving him blanket approval for significant dilution.
Under normal circumstances none of this would be contentious, but quite clearly, and for reasons we don't really understand, these are not normal circumstances.

Schlem, the guy at SP Angel has been saying that we are a target for quite some time.

Sensibles, when have you ever received a similar letter? In 40 odd years of investing, and excluding hostile takeover situations, I can't think of one.

Bubble, no, we don't. They declined their right to nominate one, or rather, they failed to take up the right.

Bubble, no we haven't.

"A challenging environment for precious metals"? hmmm. Maybe this fella has missed what's happened to gold and copper prices this year.

newtoit, how?

To my mind the one certainty is that CGP and NCM will vote together. It will hinge on BHP and us retail punters. I reckon BR will vote with management.

Correct, but if all three vote together, we should be able to work it out.