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Alternatively, if an offer arrives and you don't accept it, you don't have an auction and you don't force others to act.
I disagree
A deflated share price allows the company to better manage the expectations of us plebs.
An offer of say $1B looks far more attractive to shareholders when the share price is sub 15p than it would if our market cap was $1B.
We would attract more bids at a cheaper market cap and the board wouldn't have any problems accepting the bid.
If our ambition is to force an auction, we must accept the first bid (which subject to receiving any superior proposals within a 30 days) as that forces others others to act within a timed process and gives confidence to a counterparty knowing what they have to do to acquire us.
It also sparks FOMO
What if it was our side that has been wanting/managing a deflated share price pre funding news to avoid a spike in value that may or would undermine a deal or spook a counterparty.
At todays SP we are very attractive and the company can offer much upside
It smells like it will be Enami and Jiangxi for Cascabel.
Agree
If you are chasing a sale of the asset, you chase the value of the NPV which is 3,2B.
If you are chasing capex to fund and operate the project, you chase the value of the 1,5B ticket.
So securing 3,2B number is intriguing...
Could it be that we:
- have accepted an offer for $3,2B for the sale of Cascabel project (and not Solgold)
- Solgold retains its interest in its regional assets
- Solgold uses proceeds to fund regional exploration program.
So Bob & Citi have defined a package.
Will the majors want us announcing a deal with the government?
tick tock
slide 11
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Yep I am heaps over my head.
Would you like me to share my most recent tax return on telegram?
You missed this bit:
"No debt and $2.4 billion in available capital as at December 31, 2023"
Tesla1/needabrain (same person), pop over to our telegram group and I will share with you my avg and total amount of unts.
Good contribution needabrain.
MickB - I am sorry to inform you however there is much more news incoming.
Yes it did. It would seem MickB needs liquidity
It would seem that due to the information he is privy of, he is not willing to do any interviews or media.
Yesterdays RNS says there is a commitment to fund $3,2B Cascabel. Solgold now has to confirm at what cost.
Look at the words used...
- the signing of a joint declaration
- in preparation for the execution of the Complementary Investment Protection Agreement in Ecuador
- a significant advancement in the Company's commitment to the Project and its partnership with the Ecuadorian government.
- there is a commitment to invest a total of US $3.2 billion over the subsequent years in activities related to the Cascabel mining concession
- the IPA embodies the largest mining investment in Ecuadorian history, highlighting the scale and importance of the Project,
Guess what major miners don't like? They don't like direct investments or funding from Governments in their mining projects.
This is a tactic to force hands of a major whilst there is still a window open to do so.
What is clear is that funding has been secured.
The cost of the funding and its source/s will be revealed very soon
Yes agree.
So yesterday we confirm that there has been a commitment confirmed from the government.
We have confirmed that the signing of the agreement will be in the near future in Ecuador.
The cost of the funding has not been confirmed yet.
So, what message are we sending to those wishing to control/dictate Solgold or Cascabel?
"Your window to acquire us is closing and closing fast"
Me thinks our share price will do 4x this month
If funding is secured, Solgold needs to confirm at what cost to the company or project.
This may seem the next bit of news which is imminent
Please share.
if you re-read the rns from yesterday using mining.com glasses, it makes sense what they are saying.
Where does it say they wont be committing addicknt