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Richy, I think you'll find it's the other way round...they're looking to Solg to finance them.

Juno, it isn't a Bank holiday. Friday is.

Academy, fair point.

How do you know they've actually sold? The RNS simply refers to the exercise, doesn't it? Obviously, I may be wrong.

true.

Absolutely, Quady - the whole thing is both fascinating and very positive.
The corporate finance permutations are almost endless and whatever drivel I post, is no more than uninformed speculation. Still, it helps pass the day.

Morning, Quady.
1. They need as much cash as they get their hands on. GGP will not be cheap. The second point, if they don't put any more cash in, their diluted shareholding will be an annoying irrelevance to them.
2. BHP don't need to wait for either a PFS or BFS. I'm convinced they're ready to go, but obviously can't do so until October, unless someone else emerges.
Factoid: if my little daydream emerges, BHP will command an initial 38.17% and will have to launch a full bid. They can then pretty much guarantee BR will be happy to sell to them, as will most ordinary shareholders (the lure of a payday will be too great). NM will then be forced to the negotiating table and at that stage, we'll get to know how good a negotiator he really is. £1.50 will do it for me.

Indeed. Having to attend a board meeting and listen to a belligerent Aussie tell you your company is an irrelevance (despite having provided the initial cash to get this whole show on the road), can't be a barrel of laughs.

iceberg, the route they've taken with FDN is very interesting and, as you say, could be a blueprint for developments here.
But I maintain my view, they'll be looking at their other projects rather than us. Remember what NM said last week - effectively, we have no intention of listening to any major miner who just happens to have a minority holding.
New are in a highly vulnerable stage and they need several big winners where they have either full control or are in a dominant position and that seems very unlikely here.
The jv route with BHP is an interesting one and may make sense for both parties, but not Mather.
My bit of idle speculation for the day is; New sell to BHP; BHP buy out CGP and then launch a bid for SOLG. Bingo! Done deal!

Quady, you could be right and the purchase will be GGP...although I don't anticipate that until the MRE has been produced, at the earliest.

FTF, perhaps you have another explanation? It's worth reminding yourself of what Biswas said about Solg fairly recently.
I'd be amazed if New features in the upcoming fundraise.

underestimate the stupidity of private investors, many of whom can barely tie their own shoelaces.

Note that SOLG doesn't even merit a mention in their exploration update notes. Nothing, nada.
Something has gone very wrong with the relationship between both companies.

could anyone be disappointed by this? I suppose greed and stupidity are the answer.

Btw, I guess a fair number of us here are also GGP holders and it seems to me we are sitting on two of the most exciting shares on the market at the moment.

jester, it's not so much that it's bigger, but they are now fully stretched with Hav and Fruta. It's inconceivable that they could also take on the Alpala project. This has cleared the way for them to sell their shares to BHP and for BHP to put an end to Mather's fantasies of mining this.

It looks to me as if Newcrest are giving up on SOLG. Their priorities lie elsewhere. (as predicted)
This in itself is interesting. They need cash and perhaps they'll also be looking to sell their SOLG shares as part of that process?

I believe the expression "behind the curve" may be appropriate.

Of course they don't. In fact, last I heard BP went bust. By the way, they were a pr firm.

I'd like to pretend I understood all this, but I don't. Anyway, the company seems very happy, so that'll do for me.