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Well said Shearclass & sharketmare
I’ve seen some nonsense in my time posted on LSE chat rooms - but some of the comments on here today are way off the mark.
Options are being agreed and issued - we’ll wake up and smell the roses people - this is the way of the business world. Our Directors are issuing at a 50% premium - they shares have to be over and beyond this level for them to make money - if they achieve this we all make money
Our team is first class - Len is an amazing geologist one of the very best we are lucky to have him - Neil Herbert as been there done it and seen everything - he is an exceptional leader with a fine pedigree and history - just listen to him speak / present - he is a different gear and cut above the rest. Amanda is enthusiastic, engaging and a work horse who is currently travelling the world to make our company a success
Their Director salaries are ‘not’ excessive - yes they are greater than most but go compare against peers in the industry - I’d go as far as to say they are modest
Vince had big shoes to fill - can they do it ? Who the hell knows - could anybody ? I often hear it wouldn’t have happened if Vince was still alive etc etc - but with heavy heart and sadness it has to be said the company has to go on …these three could have probably sold and cashed in - but they haven’t they have picked up the mantle and decided to push on with things - fair play I say - as investors we have the choice - back them or sell up
MIIF will come on board - an MRE update will happen - a DFS will be produced - then the ML (we all hope will come) later in the year.
So what if Neil said the MRE will come end of Jan or we all expected MIIF in earlier - I’m sure we all in business get dates a little wrong - things get pushed back, things change - it doesn’t always have to reflect instantly that they are misleading people it’s just ‘business life’
This stock will go on to make fortunes for some people, it’s an excellent prospect - it will likely grow to 100mt of some of the best Spod in the world ! Yep In the world
It’s possible we will be shovel ready this year ….it’s highly likely we will be producing next year - we are on an accelerated programme to become a producer
That means there are hardly any open windows for the directors to buy shares on the open market - they are tied and governed by the ASX rules - they are privy to what is happening day to day and not all of it is yet in the public domain
Also I’ve read some clap trap about them not buying shares in the past …..this is untrue - indeed they have all purchased shares - just because certain directors haven’t bought millions doesn’t mean they haven’t bought what they can afford to buy
Let’s give them a break, back then or sell up it’s really that simple and if you can tell me about a better investment right now I’d be all ears - and if you have found one then go and back it to the hilt - for me that’s what I’m doing right here
Hi Fort - great posts
Why couldn’t someone bid for SOLG now if they wanted too ? Genuine question and I don’t for one minute think they will, especially as it’s so close now - but I did think after the AGM what would stop someone bidding and just make the bid conditional on the merger completing. Mute point I know …but just curious as to what would have prevented it
Think they said late Jan for merger complete - but I did think I saw something on Twitter that mentioned the 27th Jan (I’d have to check back so don’t quote me on that - and being Twitter it could be wrong anyway)
Keeping the tenements and selling off ENSA certainly sounds like a good plan - although maybe the buyer will be driving a hard bargain for the lot - for not a lot more money (if any)
Do like the idea though …wasn’t it ‘The Bozi model’ ?
Thanks Sharketmare - indeed I enjoy your posts also.
Hope our shared investments do well for us both
SOLG will come good I’m sure …but it’s been a long journey …..do think we are at the action end now - fingers crossed
Bubble - have I offended you in some way ?
I’m genuinely not sure what you mean ?
I’ve read you post a couple of times and can’t make head nor tail of what I’m supposed to have done
Or was your post meant for someone else - cross-wires ?
DG
I hear you Anon - and I guess I really shouldn’t push the ‘it’s gonna be sold’ message - as the fact is all I know is what I’ve been told - they are pushing for a sale.
I guess one could argue they have been pushing for a sale all along …but it hasn’t materialised
I guess the difference now is CGP merger brings it all under one roof - so I guess easier for a bid
Also Bob Sangha - M&A specialist
Also Jiangxi coming on board and the speculation over if they have taken a strategic stake or an investment - nobody on the outside knows this for sure
Also it’s quite right that it could be a bid will come quickly after merger complete or maybe it’s mths and mths away if ever …..on this board we’d just all be speculating
If CGP / SOLG shares get sold to Jiangxi that will be the firing gun in my mind - levels the playing field in terms of equal sized shareholding - also we have no immediate need to sell them to Jiangxi from a funds being short point of view - which also makes me think if they do get sold they’d be at a premium
Any large uptick in open market buys - and I mean consistent big million + chunks being bought would also be an indicator pre-bid as the known bidder could buy under the bid price knowing that everything they accumulate will be cheapies
So as always we just have to wait and see
But do get your point on the Heresy …..cabbages and rotten tomatoes thrown in the direction of any doubters :-)
BHP - a smidge away from 10yr high SP - 250b
Jiangxi - at 65b
I’d hazard a guess if these guys want it it’s theirs for the taking
Chinese will pay anything if they want it enough - BHP want it but will they pay a premium is anyones guess
But let’s not discount the Japanese as an outside bet
Anon
I don’t follow the board close enough to know if you fall into the sale or production or even what you view is but to say it’s in everyone’s head (that a sale is close) is categorically not true.
This is FACT
CGP are in the driving seat to broker a sale
CGP have publicly stated they want it sold
I have personally spoken to a member inside the CGP team who has said that a sale is the aim
I’m aware of other PI’s on this board and on other forms of social media who have had contact with members new and old of the SOLG team who have indicated that it’s a sale now they are all pulling towards (obviously I can’t state that as fact as it’s what I have been told rather than my own comms) - but I believe them as credible and upstanding
So it doesn’t just reside in peoples heads - some are very much in the know of what is being sought here
That’s not a gaurantee of if it will happen - nobody can gaurantee that until it’s signed and delivered
But make no mistake - the company is positing for a sale
I’d add I’ve yet to have it confirmed by anyone if that will be a complete or partial sale ….probably as things are not known or indeed it’s watertight from inside in that respect
You can choose to believe me - or indeed choose to not believe me - quite understandable on this board
But remember this - I’ve posted on here for maybe 7 yrs + , I have never insulted anyone, never posted untruths, never been spiteful or stooped to any form of games, I’ve always spoken honestly and to the best of my knowledge
It’s up to everyone to make up their own mind
But mine is set - the team are going for a sale
And as Bob said in his open letter - he’s bringing it to an end hard and fast (or words very similar)
Wholeheartedly agree DBW - and yep mine is a bit of a rant, just venting I guess - think I’ve earnt the right.
NM’s fortunes with SOLG are inextricably linked with our own …if they weren’t I’d have exited yrs ago - he’s been like a cloak of protection in the final exit respect - however I don’t believe he is the peoples investor champion ….I never did believe that no matter what he may say
He’s in it for him like I’m in it for me
Any bid will need his backing
Which is why I’m not necessarily in the low ball bid first camp …..I think a reasonable price will be offered to kick off then if someone comes in over the top then happy days ……will they ? I have my doubts - but who knows for sure - none of us
Just make that first bid reasonable and we can at least rest in the knowledge that at least we will have attained a gain - even those that bought a few in the 40’s !
In all honesty DBW I don’t care who buys it.
BHP tried the down and dirty route - future explorers may be mindful of taking the kings schilling from BHP - just want to screw early investors for their own gain - that’s the game unfortunately and one could argue BHP just doing their job ……I’m not really even that bothered about that tactic
But SOLG’s year after year after year smokescreen to investors has been poor and no matter what they may say in their defence it’s been pretty much at the neglect of us lot
The suck up when they want votes - rallying the ‘troops’ - troops ! Canon foder more like
I invested in an explorer - explore, find, package and sell please
Not this - dinosaur of the next major in the making ….should have sold there and then but I didn’t see the risk as I believed it was a game of poker
But you know what - some of these diliusional egotistical maniacs actually believed their own hype - Mather especially
Now thankfully he’s eating humble pie before his last chance of a multi million golden retirement payment slips away entirely ….thank god CGP finally found a way for sense to prevail
So Chinese / Japanese / BHPeas I just don’t care just buy it please
Really hope so mate - it’s certainly run it’s course now
Hope Jiangxi play with a straight bat and pop in a bid
Get the CGP / SOLG owned shares placed with Jiangxi just after merger - level the playing field and then get the first bid in
If BHP don’t want it then fine - they have tried to screw us - it’s their job to do so of course - but as Bob would say F..k em
Let the Chinese pay a fair price - if they are true to their word and want every investor treated fairly
Ecuador needs it sold
SOLG needs to sold
CGP needs it sold
The world needs the copper so let’s end this thing
Would love SOLG news machine to put out one final positive RNS …..it’s been yrs since they provided anything that put a smile on my face …..so come on Fawzi ….one more good RNS and we can all finally thank the heavens for salvation
Blimey chaps - this LSE board is complete chaos
I get that it’s boring on the news from SOLG right now but chaps some of you need to get out more
I couldn’t give a flying monkeys personally about who’s quibbles or nit picker or whatever the argument of the day is
I want SOLG sold nothing more nothing less
I’ve done my seven/eight yrs
I’ve backed the company to the hilt and invested my hard earned
They have literally taken the p—- out of us for yrs now
Cuzubbo with his rubbish PFS ….monkey journeyman with his big salary
NM sacking or crossing swords with anyone and everyone
The revolving door of staff
French translations
CGP fractions
All one massive big gravy train for those on the inside whilst creating mass smokescreens for us the pleb investors
WI called this right yrs and yrs bank ….”they sure are stupid’ and you know what he’s spot on - they are very stupid ….but I guess have linned their pockets in dragging this out the way the have
Thank god for Bob and his bat - thank god NM saw sense and got CGP involved ….can you imagine Cuzzubo still standing their saying ‘we’ve still got time for finance’ when we down to our last few pound !!
I’m no financier - but I can read the news - recession was well flagged - putins tanks linned up for quite a while before invading - the stock market was due a fall and yet in the spring all we did was provide a piece of junk PFS 2 yrs late that the market laughed at
Nah ….for me it’s got to be all over this time …..for me the gravy train has run its final journey ….if you think we are going to production you are either clearly mental or here to just cause issue
This ‘IS’ being sold
‘If’ we have someone who will place that first bid
If it isn’t sold I’m at a complete loss as to what happens next …..single digits and the abyss of mega financial loss for many I guess
So roll up the Chinese / Japanese or any one else that wants to take this on - pay up and let’s move on
Couple of weeks till merger and then let’s end this thing
We’ll probably end up with 50p ….hardly worth the bother for all the yrs invested …..but I for one will be happy to never ever having to think about this cr-p company again
Back to your investigations now - on who’s who and who said what
Monkey Boys
Very much doubt that Ecuador would stand in the way of any Chinese takeover of SOLG - not that I thought they would anyway
Maybe a nice way to announce the renewed trade deal and co-operation between countries with a SOLG sold to Jiangxi news headline ……you never know
Ecuador / China signed off on their free trade agreement today
Ecuador reaches trade deal with China, aims to increase exports, Lasso says
It’s a Reuters article - I couldn’t post it here but a quick search on Google and I’m sure you chaps will be able to find it
US frets about ‘erosion of influence’ as China and Ecuador move closer to a free-trade deal
A free-trade deal with Ecuador would be China’s fourth with a Latin American country, after signing agreements with Chile, Costa Rica and Peru
The warming relations have fuelled calls in the United States to open trade talks with Ecuador to counter China’s growing influence in the region
As Ecuador and China move closer towards sealing a free-trade agreement, concern is mounting in Washington that the United States is losing influence in Latin America.
Ecuadorean President Guillermo Lasso said early in December that negotiations with China on a bilateral free-trade deal (FTA) were “practically closed”, some 10 months after talks started. The deal is expected to boost the value of Ecuadorean exports to China to US$1 billion, while offering Chinese firms access to an array of raw materials.
A FTA with Ecuador would be China’s fourth with a Latin American country, after signing deals with Chile, Costa Rica and Peru. In September, China agreed to restructure US$4.4 billion of debt owed by Ecuador, providing relief of $1 billion until 2025
Cheers Bubble & a Happy New Year to you pal !
I think the £1.32 may well have passed us by now - was a great dream for many a year and I’ve always admired your resolute position with SOLG ….all the best for 2023 we all deserve a decent result here & decent for me would be a result that puts a very big grin on all of our faces
ATB
Article from 9th Nov 22 (not October 22 - my slight error)
Interesting article from Reuters on the 9th of Oct - no doubt that Mr Irwin was referring to some of this China blocking by Canada back around the same time on Twitter
Looks very much to me like China want / need copper and lots of it - they will have no qualms about going up against BHP if they need to and furthermore they are already active in Ecuador …..just some food for thought
BEIJING, Nov 9 (Reuters) - China's top copper producers are urging the government to mine more of the metal, at home and abroad, as concerns grow about disruptions to global supplies, the state-backed China Nonferrous Metals News reported on Wednesday.
Jiangxi Copper Co Ltd , Zijin Mining , Tongling Nonferrous Metals Group Co Ltd (000630.SZ) and others urged relevant authorities in a meeting on Tuesday to launch a new round of ore prospecting as soon as possible and open a new batch of mines for development, the newspaper reported.
The lobbying by the industry comes amid rising concern about the global supply of copper, which is used in transport and construction, and increasingly in the fast-growing renewable energy and electric vehicle sectors.
In Peru, the Las Bambas copper mine, owned by Chinese miner MMG Ltd (1208.HK), said it has started to reduce operations due to recent blockades by indigenous communities, who have disrupted activity on and off for months.
Chile's Codelco, the world's largest copper miner, said this week it would extend maintenance work at its Chuquicamata smelter to 135 days, from an initially planned 90-day stoppage.
China is the world's top user of copper and relies on imports for about 25% of its consumption.
Mining companies should mine deeper and broader and work on extending the life of their mines, while smelting companies should speed up overseas resource development and optimize their layout over the industry chain, the Chinese companies are reported to have said at the meeting.
Chinese miners are, however, facing growing headwinds abroad, as countries compete to secure critical resources.
Last week, Canada ordered three Chinese companies to give up their investments in Canadian minerals, citing national security.
China produced 10.49 million tonnes of refined copper last year and imported 23.40 million tonnes of copper ore and concentrate.
Also something I read recently
Over and above direct foreign investment in mining projects around the world China, has splashed more than $16 billion on buying overseas copper companies and assets since 2010.
But if China is to follow the Japanese model of securing long term supply to feed its downstream industry — it has some work to do.
Japan has managed, through well-known companies like Sumitomo, Marubeni and Mitsui acquiring minority interests and JVs in scores of projects, to own 70% of the copper in concentrate it imports.
The above extracts from an article I read got me thinking - Chinese companies do like to own their assets outright - where as Japanese companies are more prone to look at JV’s or smaller stakes - Mitsui were connected a while back to SOLG ….I recall the tweet which mentioned Mitsui looking to make an investment in SOLG
Just my musings - but maybe Mitsui’s interest hasn’t been furthered as SOLG are looking for the complete sale and not looking for JV partners - and just maybe Jiangxi fits that bill better than a Mitsui
Just a thought …..
Agree Copperpot it’s high stakes poker now.
However do we actually have any drill results held back ? I’m not so sure we are allowed to do that and it would certainly be a new thing for SOLG to hold back news (unless it’s been bad !)
CGP will vote the merger through on the 9th - and at that point I’d assume we would be ready for any corporate action.
Maybe a final placing of the CGP SOLG shares which get returned to treasury ….without the need for us to place them down at these levels.
If those shares go to Jiangxi then I’d guess it would be the prelude to a bid. Jiangxi bid for example and it will either be low as they are looking for a bargain and want to test the appetite of any other suitors - or they may well pitch at a price point designed to get approval straight away - a knock out bid if you like not allowing too much room for anyone to come in over the top. I’m doing it that way - a sort of best offer pitch they either win the spoils or if someone comes in over the top they will have made a good return on their recently purchased tranches
What’s important here is getting that first bid - I hope it’s been the game plan since the beginning of the CGP/SOLG reconciliation and maybe the driving factor in bringing us all back into the fold together
Currently the market doesn’t believe it or has missed it - I’m not convinced about the arbitrage play some have mentioned - I see SOLG being sold down to placement price and below but haven’t really seen any volume of CGP buying…..so for now it looks like the market has followed the typical route of selling down to placement.
Hopefully we turn up after the merger
Then let the bidding commence
Absolutely no funding issues with ALL
Indeed Neil Herbert has mentioned on more than one occasion no more public findings will be required.
MIIF - the Gharnain sovereign wealth fund - do want to take a position and indeed we want to welcome them on to the register. This will NOT be done at a discount to the share price - ie they will not be getting in cheap. They will come onboard in their own time when they are ready and will pay market rate - calculated under a VWAP pricing model
My personal hunch only - they will be in before the end of Q1-2023 ….they will have benefited from getting in at a lower point than earlier in the year thanks to Goldman Sucks scaremongering - Goldmans along with a good few Wall Street banks have been feeding and buying heavily over the last six weeks - my hunch only they will soon have had their end of year cheapies and their narrative could well begin to change ….cruel but way these investment banks work
Then we have the other 50% offtake we can offer to the market - but we are not going around trying to sell this, oh no, we are literally having to assess loads of enquiries - another near term catalyst which Neil Herbert has mentioned during interviews as a focus for the next six mths - (that was said end of Oct) - so just maybe Q1 will also provide us with an offtake announcement
Then we have further drilling results - Jan maybe - which will feed directly into an MRE upgrade
With all this additional cash from MIIF and offtake we will have more than enough to pay our remaining 50% commitment to mine construction ….with plenty left over for maybe an extended drill campaign - would make sense to me considering we have only currently explored a tiny fraction of our land area - and already have a 30mt identified resource ……which will be 36+ within weeks
ALL has suffered alongside plenty of other Lithium stocks over the last six weeks - the market will reverse and when it does the cream will rise to the top the fastest, with the news we have linned up for Q1 I can see things getting quite explosive over the short term.
Well done ALL team this year - huge progress - next year will be even bigger and then production will be in clear view