Member Info for addicknt

schlemiel, indeed and you're right, they must have spent money on political risk consultants and engaged in discussions with politicians.
But, as we all know, politicians are a fickle and generally pretty useless bunch of barstewards and should never be trusted.
You'd also have thought that a poor country like Ecuador would have the begging bowl out for inward investment and job creation, but the mining industry is littered with failed businesses who jumped to that conclusion.
By the way, I don't want to over-egg the pudding on this issue, it's just that I think all investors should think carefully about risk and keep an eye on it. There are far too many private investors, and many on these boards, who, due to their inability to accept it exists, choose to ignore it and end up losing their shirts.

schlemiel, indeed and you're right, they must have spent money on political risk consultants and engaged in discussions with politicians.
But, as we all know, politicians are a fickle and generally pretty useless bunch of barstewards and should never be trusted.
You'd also have thought that a poor country like Ecuador would have the begging bowl out for inward investment and job creation, but the mining industry is littered with failed businesses who jumped to that conclusion.
By the way, I don't want to over-egg the pudding on this issue, it's just that I think all investors should think carefully about risk and keep an eye on it. There are far too many private investors, and many on these boards, who, due to their inability to accept it exists, choose to ignore it and end up losing their shirts.

schlemiel, I agree with your analysis and feel much the same way. However, every share has a risk and ours remains political.
Sure, the signs look good, but it is still there. Keep an eye on it and google regularly.

Of course I do, jerry. That's what good friends are for!
ManandWifi, that thought has just put me off my supper.

we pay too much attention to broker ratings, I've just noticed that Liberum have reduced their target price from 69p to 65p.
If anyone is able to explain this rather perverse reaction, please feel free to do so. My guess is they're simply basing it upon the dilutive effect of the new shares without for one moment looking behind the curtain to see what are the implications.
Personally, I hate virtually everyone who works in the city (despite the fact some of my best friends still do) and regard most of them as being as much use as a packet of condoms in a eunuchs bedside cabinet.

Indeed, Barksy! But as you may be aware, I'm no longer in BCN. Sold up and bought SOLG a while back.
I'll return to BCN once financing has been agreed.

jerry, yes - that was my thinking.

the next announcements will be that of the appointment of BHP's nominated director.
It will be interesting to note what type of person they choose. Will it be someone with a technical mining background, a finance/M&A person, or one of their NEDs? I'd be surprised if it was their CEO.
In my view, the background of the person may be indicative of how they see things developing over the near/medium term.

kiwi, quite right; we all have different ambitions/needs. However, given the clarity provided by today's events, it does make you wonder.
I also wonder to what extent we've seen a clear out of one type of shareholder and them being replaced by another. In other words, those with shorter term requirements being replaced with those taking a longer term view. The price has been held down today by small private investors selling and it will interesting to see if we witness less of this pattern over the next few days.
In any event, this has been a momentous day for SOLG and the future is very exciting.

zoros, the RNS doesn't indicate that BHP will refrain from taking control. What it says it that it will have to enter into negotiations with the company if it wishes to gain control. In other words, it won't make a hostile bid. The two are not the same thing.

Thanks, schlemiel. The article really really is exciting. I particularly liked the comment. " they can always negotiate something with us and do it quicker, but it needs to be negotiated".
Rarely do you hear a CEO being so candid. Basically, he's confirming the fact the company is for sale...at the right price. What we really need is some dopey Chinese bloke to come along with a vast cheque book to put the cat amongst the pigeons. Get them to bid £5 and BHP will have to match it.
Okay, I'll stop day dreaming.

it's not a trading halt; this has been in and out of auction all morning so far.

because they know what this is ultimately worth.

to what extent NM gave BHP a greater insight into how MRE2 is looking and whether they were given access to the draft PEA?
In theory this would be illegal, unless they signed-up to becoming Insiders. But we all know how these things work...nod and a wink etc.
Obviously, if they were given access, it's quite clear that both reports are going to be stupendous.

As, I imagine, is the person who sold 187K shares yesterday afternoon.

Looks like it, although I don't understand why they didn't fill-in the box which refers to the previous holding. Or am I missing something?

Understood, and you are quite right.
Does anyone actually believe this will run for two years? Personally, I can't see it.

Dubliner, yes, but I'm not sure what your point is? This clause is designed to prevent a hostile bid, which it has done. Mind you, I've seen situations where similar 'friendly' deals have been struck only for the partners to fall-out down the track. At that point the bidder has been prepared to run the risk of breaking the agreement in the hope of winning the bid and therefore never having to face the consequences of any legal action.

The only way will be by agreement.
Of course, now that they have someone sitting around the boardroom table they will have full access to all inside information. If they like what they see, and they obviously do, at some stage they will be able to raise the issue of carving it out of the main company. Their inside position will place them light years ahead of their competitors and they will be able to base any offer upon information which simply isn't available to anyone else.
And we also know NM will not let them have it for a song.
But my view is that they are now here for the next couple of years as they watch the whole picture unfold and before they make an offer for the entire business. In fact, their position makes an offer utterly inevitable. They will either do so after the period of further discovery, or of someone else bids. This is now a cast iron certainty.

schlemiel, you ask how does BHP take control? The answer is they can't...for the time being. The two year standstill agreement removes the threat from them, but the sentence which refers to "certain circumstances" is a reference to what happens if someone else bids; as does the first right of refusal clause. (sorry, I'm sure you knew this already)
I wonder what's being said in the boardrooms of BHPs competitors? They are facing the prospect of losing any chance of access to one of the worlds most important discoveries and are looking at BHP becoming even more dominant. What to do? Sit back and accept it's game over? Or gird your loins for a hostile bid before BHP get their feet under the table?
What a wonderful position we're in! This is easily the most exciting investment on the market at the moment; full stop!