Member Info for Bozi

1981 - regardless of whether this is being sold or not, just remember you were bantered off this board in your previous incarnation as StackHigh.

Nobody really cares. I'm not sure why you're so keen to put a timeframe on it. What difference does it make?

They think it'll be sold. You clearly don't yet can't bring yourself to argue that point.

Afternoon DBW

I agree. Will Jiangxi's arrival as further competitive tension finally be recognised by the market.

I've got to admit I'm a bit torn as we've boxed ourselves into a corner whereby the strategic review has to yield something other than "we'll continue to develop Cascabel" given that all workstreams, plans, schedules etc at said project have ceased.

It's been an experience has SolGold. Hopefully everyone is about to have their faith repaid.

All very well and good re the lack of a public SOLG plan, and I agree.

But how will we reconcile it I'd the SP doesn't lift under excess volume in the days and weeks after the merger with CGP completes?

And before anyone offers them, Noront won't have anything to do with it.

Big 4-6 weeks in SOLG history coming up? You better believe it.

Ahhh Redknight, that bidding war chestnut again.

Lets hope it proves the answer to all our questions.

FTJNY

Well done for reverting to the insults.

As of 15 December Mather was interested in 11.9% of the stock via his personal holding and DGR. Once the CGP shares are issued that will drop to around 9%.

No one person has control of any matters that go to a vote of all shareholders. That is why we've seen a significant hatchet buried - in the hope that those who took all the early risk can fend off a creeping takeover.

I'm not saying this won't make at least 40p FTJNY. I hope it goes for a lot more. I'm simply trying to make the point that it isn't as straightforward as you and others think.

The first job Bob needs to do is illicit an opening proposal the company wants to put to shareholders. Why? Because failure to do so wl mean the company is continuing development at Cascabel and that will result in a similar share price reaction to the one seen at Landore resources last week.

Scrat - you need to factor in post merger share issuance.

So $1.8bn / 3bn x 0.8 so 48p.

Yep DBW, point taken. However, I'd maybe argue Mather had more to lose by not acting. Both personally and through DGR.

Nothing was stopping CGP seeking an alternative deal with an outside party. Mather could never do that.

FTJNY - The fact that BHP and NCM would be underwater on the averages of their own shareholdings is completely and utterly irrelevant. I really don't know why you and others are playing on this, almost using it as a comfort blanket.

After the merger completes, if SolGold issues the shares previously held by CGP to someone that isn't NCM or BHP, both parties drop to under 10%. They lose their influence in shareholder votes.

This is why Mather has, begrudgingly in my view, succumbed to CGP, Maxit and Warren. Because the same was happening to him and he needed allies for the fight ahead.

Now, should an offer come through from someone that isn't BHP or NCM they can both vote against it, but they'll be struggling to muster 20% between them. Add in a few disgruntled PIs who staunchly believe this would be worth more and they're probably closer to 25%. However, they'd be up against Mather and associates, CGP and potentially Jiangxi. They'd be on the wrong side of the fight.

By the way, I'm not necessarily talking about 40% from tomorrow. 40% from 25p takes us to 35p. A fast and smart 100% for Irwin and many PIs would cut and run at that price too given recent performance.

It's about time we started taking notice of the dynamics around us. BHP and NCM coming away from SolGold at a loss is not a factor here. They're multi billion pound companies and they'll make poor investments. It was on them to buy the open market and bring their average down.

So when should we expect Jiangxi's opening proposal then DBW?

How does end of February sound?

I think we have to consider the potential that Jiangxi and BHP will be happy with their strategic stakes. Let's not forget that we've got a fairly unsophisticated PFS on Alpala that has some potential for adjustment and optimisation, but we've postponed the work.

What sort of message does that send?

Why aren't we completing a PFS that paints our flagship project in an even better light whilst we have a strategic review ongoing?

These are the questions that need answering.

It is ramping Redknight.

There's nothing to say a ramp can't play out. But calling an event that hasn't happened yet and mixing it with subtle encouragements to buy stock is ramping.

That's how it is. May as well embrace it.

Hyfligman - your 23:05 post last night exhibits all the warning signs I'm talking about on this bulletin board.

I'm very sorry to dampen the mood of you and the 13 others that recommended your post but there's no way on God's green earth that the Chinese are going to offer us a 250% premium.

It just isn't a possibility.

If they are interested in the company then the most we can expect is 30-40% on the last closing price the day before. It will then be on other parties to have their say.

We'll therefore need at least two interested bidders and they'll both/all need to make multiple bids. It's a lot to expect.

Please don't burn yourselves with unrealistic expectations.

I haven't "turned against this share".

But what I'm not going to do now is ramp it to high heaven with brash and overconfident statements about how we're nailed on to be sold.

If it happens great because LTHs deserve to make some coin given the struggles we've had to endure.

That's fine then Sean. I won't expect to hear from you claiming such mammoth surprise in the event that SolGold are going to continue developing Cascabel.

Not likely.

Sean - I've been less than complimentary despite holding the shares, as is my right.

You should either take no notice of views you don't like or challenge them in a constructive way.

The choice is yours.

Sean - there's no physical connection between the companies but there's a fundamental connection, so yes it is relevant.

We'll done for getting the conversation cancelled though despite berating Quady since day dot for doing the same. Hypocritical much?

All SOLG shareholders should be acutely aware of what happened at LND yesterday. It's the undesirable outcome of a strategic review.

All your punters like Sean bet the takeover and they get roasted.

Lets hope that does not happen with SOLG.

Spot on SM.

It has quite a viable comparison with SOLG actually Sean.

You just don't want to consider it...

We're awaiting first drilling at Helipuerto. Surely that would be way behind Porvenir, even if a significant discovery was made?

It would need a couple of years of drilling and I know nobody really wants that...

They will be a shareholder as long as they're being paid broker fees in stock, Redknight.

It doesn't remove from the fact they are a broker and they are paid for to promote and trade stocks.

I'm not saying there's necessarily anything untoward taking place but on the balance of all the RNS and company media I don't think we can draw the conclusion that Porvenir has superseded Cascabel in terms of development priority.

We'll see as you say, but it begs the question that if he does know something then how and why does he know it?

I'd just caution re that Proactive release that it's the opinion of the author.

I'd like to think we know SolGold better than they do, and the reality of it is that Porvenir is the only other significant discovery and we can't get a PEA out on that asset.

So either Cascabel isn't coming to production in the next 15yrs or something drastic is about to happen at Porvenir. I doubt it.