Member Info for addicknt

what reason someone had to chose this moment to dump 725,000? Apart from insanity...obviously.

unic, yes, it's possible to think they have a very limited hand, but have a read of their initial defence. They raise several valid points. And it would inconceivable that we would not make all information available to their shareholders before launching the bid.

RR1, PEA, without doubt. Failure to release it will open the door for a full-on onslaught from CGP.

the sp creep over 38p. It's been a while.

Pad, bit early in the morning for that sort of thing.

schlemiel (nice to see you posting, btw) the tactic is obvious and has been referred to a few times this week.
These results have been known for a while and haven't simply arrived on the desk each day this week. They are being released as part of the overall strategic plan, which will have been worked on with our advisors as part of the bid for CGP, which I'm 100% convinced will arrive next week. As will the PEA.

It's getting to the point whereby they should simply issue one RNS stating; "Every concession we own has enormous quantities of copper and gold. If anyone wants to buy the company, please call 0300 300 300. Unless your offer starts with at least £20bn, please don't bother calling. The calls will be charged at a rate of £1 per minute and please ensure you have the permission of an adult before calling."

Mattey, the motion to increase the available options was tabled at the last AGM. All shareholders were given the opportunity to vote. We will be informed, via RNS, if/when they are exercised.
Although I was firmly opposed, as I was with regard to the the increase in remuneration, you needn't worry. Bear in mind the exercise price is 60p and if we get to that price (and I expect way more), I guess you'll be sitting on a nice profit?
NM is a ruthless and greedy bastard and the various forms of increased remuneration represent corporate excess, which is rife and which I wholly disapprove. However, the fact he's ruthless and greedy is, in the long term, good for us shareholders.

Mattey, shareholders will be diluted when the options are exercised, which is why I, and many others, including our non-related party shareholders, voted against them being awarded. It's a pity more private shareholders couldn't be bothered to vote against them as well.

Funny you should mention grape vines; Rob Terry is offering retail punters an opportunity to buy wine made at Knob Park at a 50% discount. It's only £100 per bottle and he confidently predicts it to be worth £200.
No doubt the SFO will be investigating in due course.

BM, if you feel this way, why don't you sell? It seems pointless, from your point of view, to continue holding.

As was said yesterday, the timing of these announcements is deliberate and are most definitely a precursor to the main event.
Will that be tomorrow, or next week?

I wonder how the word "appropriate" would be defined? I think a court of law may struggle with such a vague description.
The pre-emption rights contained in the agreement are all about price. If SOLG were unable to find the cash for a matching bid, or, couldn't find an "appropriate" buyer, CGP will sell to whomever they wish.
I also wonder what would happen if SOLG weren't able to find the cash and/or appropriate buyer, what they would do with regard to the ENSA holding. In other words, does NM regard the 9% direct shareholding more important than the 15% of Ensa? If they didn't get CGP would they actually go for the 15%?

have today updated their views. Specifically, they suggest that Porvenir has the potential to be another Alpala; the company remains significantly undervalued and that various majors are positioning for a bid.

And I should add the attack would be entirely justified.

RR1, agreed.
It's inconceivable that he could post the offer document without their shareholders being made aware of exactly what it is we are sitting on. Failure to do so would lead to an immediate attack from CGP.

I think these announcements are a prelude to the PEA and offer for CGP. He's trying to soften-up the market and we'll see something very soon.

This is a bit like waiting for a bus. Nothing for months and then two come almost at once.
As you say, Qalibashi, given its proximity to Cascabel, this is very very exciting indeed.

Hi, Quady.
I accept the related party nature of the shareholdings place NM in a relatively strong position and of course, if he gets his way with CGP, the situation is improved (from his point of view) even further.(I don't think he will get his way with CGP, by the way)
However, money talks, and this combined with the fact that raising the cash for production will dilute him significantly, suggests to me this is all about price. As I said, it would be great if he sold Cascabel for good money and then paid a dividend of at least 90% of the cash proceeds, he can then move on to phase two/three/four....seventy two! At which point we will be the richest private shareholders on the London market. Provided we're still alive.

Quady, whether NM wants this to go to production or not is pretty much irrelevant. The fact is, it will be decided by others.
Personally, my preference would be to follow the "prove and sell" model; starting with Cascabel and accompanied by a promise to pay significant dividends along the way. In other words, I really would not want to see the company sitting on piles of cash. It never attracts a pound-for-pound valuation and management always have a very nasty habit of pissing it up against a wall (the exception was the late, great Arnold Weinstock)