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Bozi, i suspect i will have a lot of come back but i still see an opening bid of 35p ish, depending how many companies were interested could push it all the way to 65/70p in bidding terms ... but again who knows...

Thanks HFH

I never quite realised the size of Jiangxi copper. Also that they are owned by the Chinese government! It wouldn't surprise me if they were to take controlling stake in cascabel over BHP.

BHP have tried before at 44p?? Per share? If I recall, maybe they would still be interested / reoffer? Newmont also huge!

Not sure at this stage who is more likely.

Jiangxi Copper is the largest producer of copper in mainland China, and it had a revenue amounting to some 67.3 billion U.S. dollars as of 2022. In second place in the ranking was Baoshan Iron & Steel Co.

Cascabel will be on lips of many companies wanting to invest.

Perhaps Scott Caldwell has played a blinder here?

What we do know is that BHP has had it eyes on taking significant or total control of the Brisbane-based mineral exploration and development company for some time.

Way back in September 2018 the major miner acquired 103.1m shares from Guyana Goldfields, representing 6.0% of SolGold’s equity, paying 26.6p per share at a total cost of £27.42m.

A month later it paid out another £43.0m at 45p per share.to take its stake up to 11.2%.

At that time, it is said that SolGold rejected an offer from BHP for a big stake in the Brisbane company’s interest in its Cascabel Project.

Not chilies nor cannon muzzles

This Project is not concerned with cultivating the Cascabel Chilli, nor is it anything to do with the cascabel projection behind the breech of a muzzle-loading cannon.

Instead SolGold’s Cascabel Project is all about developing a ‘world-class’ copper mine in northern Ecuador, around three hours’ drive from the capital of Quito.

It is sited within the Cordillera Occidental part (or Western Cordillera) of the Ecuadorian Andes.

The property is situated at the margins of a large regional batholith and in the middle of the confluence of a major northeast trending fault zone.

Global interest in Cascabel

SolGold aims to develop Cascabel as one of the lowest carbon intensive copper mines in the world, which is why, no doubt, BHP wants/needs to get control of such a potentially massive asset, especially as copper prices have reached record highs in London and New York amidst a trading frenzy driven by looming supply shortages.

And that is also why investors across the globe are taking a much closer interest in just what this £288m capitalised group is doing.

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Updated: 21/05/2024

SolGold – First-mover advantage in Ecuador creates ‘World-Class’ Copper/Gold potential, BHP very interested

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UK Investor Magazine

21/05/2024

Admittedly it has larger situations on hand currently, so the matter of whether the Australian-based mining group BHP will take up its option to buy another 19.25m shares in SolGold (LON/TSX:SOLG) is almost certainly on the back-burner.

We already know that it has until 5pm on Wednesday of this week whether to make its third offer for its FTSE-100 rival Anglo American, and as for its interest in SOLG it does have until Monday 15th November to decide about exercising its option.

BHP wants control,

What we do know is that BHP has had it eyes on taking significant or total control of the Brisbane-based mineral exploration and development company for some time.

Way back in September 2018 the major miner acquired 103.1m shares from Guyana Goldfields, representing 6.0% of SolGold’s equity, paying 26.6p per share at a total cost of £27.42m.

A month later it paid out another £43.0m at 45p per share.to take its stake up to 11.2%.

Far more buys Vs sells too. Everyone loaded up and waiting now ....

Exactly my thoughts. I just think it's general legal delays at play here until the legals are finalised there can't be an announcement.

Hopefully it's wrapped up by next week which I'm fairly certain finance agreement will be announced by then.

RedKnight what are your thoughts to the reasoning behind Scott not presenting? Was the finance supposed to be completed two weeks ago for sure?

Do you think it could just be a delay legally ? On any finance agreement it's not a quick thing, solicitors would need to be involved surely and that takes time?

I sense more positivity here and I can see the De-Rampers losing steam.

There will always be people that are doom and gloom but right now we need to focus on the finance agreement and if we have any interested parties that wish to bid. If we don't then I don't see that a negative because the bid will come in due course. The world needs plenty of copper and we have plenty of it (and gold!! And silver!!)

Ecuador are backing us. The people are backing us.

Strong Buy.

One of the best posts I've read on here HFH

This is what I've been saying all a long but you've worded it far better. The finance agreement will be transformational and I think the share price will rise nicely from where we are now. I'm excited for the next week & beyond as well.

Why does it say Bid is 7.75? Where's that come from? It's out of hours and doesn't say that on Hargreaves Lansdowne

NAL

I'm glad you got the message, I just want to make sure everyone is aware of the opportunity here & like to spread the love for SolGold.

I don't think we should de-ramp for the sake of it when the core business & assets are excellent.

What link would you like me to share?

Covgaz

30-40p start bids achievable I reckon. Others seem to think the majors would battle it out and they could maybe go upto 60p? Maybe more? What's your thoughts on this?

@Anon

When you say 56p prediction what brings you to that figure? It would be lovely that's for sure.

So you think we will take this to production?

Will that be good for our investment? Surely in production it could be worth £s per share?

What would the dilution be if any? Why dilute? I've read this a couple of times now so trying to get my head around it

8 days until the 19th July deadline. Happy to get the massive funding deal done and perhaps good luck on our side and the Chinese will not go down lightly. 40p for starters would be very nice indeed.

I do think next week will start getting very interesting here, even if we don't get a bid right away, the funding is a massive milestone.

Perhaps we will get RNS on both ? I will say even if a outright bid by one company maybe a JV deal on the cards?

Enjoy your profit.

Safe travels home!

Even a huge funding package would be fantastic news. Noise from Ecuador is that they are happy to progress permits and see mining as a massive part of their future.we will be in a better position with a massive funding package than we are today in limbo.

Hope SC pulls it out of the bag for us . I have always thought he will, also if we were a donkey company then BHP / Newmont / Jianxi would never have invested in us. Think of it that way.

There might not be a bid right away but let's secure a massive funding deal and bids will come in as we pass every mile stone.

Adie

So if FN get a bigger royalty % is that not a good thing? Is SC trying to get bids to come in and why in your opinion?

Addinckt I'm glad you haven't lost faith

I think we will soon be rewarded! Not long now tbh. The finance package is a massive part of the puzzle

It will be easier to sell with cascabel backed by a significant finance deal

I still see a JV purchase of Solg tbh with you unless BHP show their muscle and take the lot?

Ecuador are waking up to how mining will make them one of the biggest exporters in the world

The government are pushing mining and in another article I've read that they want to prioritise and sign any permits to fast track new mines. Good news for our company! And Ecuador !

Mathers what do you think will happen here? What's your opinion on it all?