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So CGP holders have no choice but to take up the merger SOLG shares?? I thought CGP holders had a choice. How can SOLG elect to pay some CGP holders in cash?? Surely that's not up to SOLG? Wouldn't that leave some CGP holders in doubts of whether they are getting SOLG shares or Cash? Seems a bit unbalanced.

I recall a poster a while ago highlighting that the SOLG / CGP merger is on a CASH basis or Share basis, eg CGP holders can elect to take cash instead of SOLG shares.

Assuming this is correct, does anyone have an idea on roughly the known take up of SOLG shares via known CGP holders Irwin et al vs the unknowns.

Could SOLG end up paying out $25m+ in cash to CGP holders disinterested in the SOLG merger shares?

I guess it's this unknown that is keeping the sp in check as likely that post merger and cash outcome, another placing will be required if they are to commence exploration as indicated.

What exactly are they 'onto'??

What % do Berry Street own?? My guess is less than 2%.

They, like the rest of us are sensible enough to realise that self preservation starts and ends with protecting your company against low ball and underhand tactics by would be predators such as BHP and NCM.

It's not rocket science... in short... we don't have a choice!

There's no way Fawzi can be paid $450k for Investor relations role. That's mental. That's CEO level of pay not mid management. Never mind board director level.

You must have got that wrong. $45k more like it. If it is $450k, then he needs to take a salary cut pronto as SOLG need to slim down as per recent RNS on conserving costs going forward.

$450k. for IR?? Must be a mistake.

Chinese took a large wedge recently.

CGP now aligned to SOLG shareholders as pay day soon t be through SOLG shares and not CGP.

Strategic Review well advanced and results due shortly or after merger concluded is my guess so sometime around mid Jan.

AGM looks safe but if you haven't voted - get on to it now. Every vote counts as sends message to BHP et al.

Copper predictions soaring for 2024/25.

What's not to like?? The share price at the moment... not nice at all. But that should change once the Strategic Review confirms what many of us all think.... monetisation is high on the agenda.

Chill.

Agree gaz.... great football and classy end. Perhaps we should take a page out of the Qatar's book... friendliest World Cup ever due to limited alcohol and the threat that any mindless thug that fancies a fight would be hung and quartered.

I don't agree with all the Qatar views on xy and z.... but the absence drunken thugs smashing the place up made this World Cup one to savour.

Perhaps the world of football learned a lesson .... we are not all perfect but sometimes different cultures have benefits that should be applauded.

That's very good news on Norges. Combine the Norges and Chinese stake and that's at last a 10% swing from last year and with BHP/NCM and Blackrock dropping by 3% combined, that's even bigger margin.

So looks like they will be fine at the AGM although any pi's that have still NOT voted.... get onto to it Monday please! Send BHP and NCM a firm message.... pay FAIR PRICE.

FWIIW, I think the current share price level is conditioning some folk into think of lower takeover targets eg... the longer we are sub 20p the more attractive an offer of 50p becomes as opposed to being at 35p and wanting 70p or 100p.

A bit of a reset button hit I think and reckon Maxit's gambit is to get a credible offer tabled which might be as low as 40p. That looks more credible with so sub 20p than if we were 35p+ etc.

There is always a danger that BHP don't bite and enter ring with counter offer. But the only way we will all find out is to get an offer tabled in the first place. I doubt BHP will make a move until that happens or until they see significant asset erosion or monetisation through other forms. The royalty deals have certain buyback clauses so are not that damaging but do another couple of those and it begins to sting. Got to get a competitive bid situation going. Simple as that.

Very poor from NCM and BHP. Both should have issued TR1's after falling through 13% level.

No excuse for the delay.

I'm aware of the chinese pretty much owning and buying everything that's out there but can anyone point to a previous example of a chinese company owning or buying a large stake in a Tier 1 mine.

How many Tier1 mines do the chinese currently own?

I'm still waiting for the TR1's to drop. Normally they have just 3 days to notify. So come on BHP and NCM... let's be having your TR1's. As for Blackrock, they are not obligated to notify as they are outside UK but the expected level of a global entity like Blackrock does mean that they should meet basic standards and dlecare through to 2.99%. That's what most companies do that have high standards. Let's see how Blackrock deal with it. Thus far, all of them seem a bit grumpy lol!

TSX clearly being played by a few - poss sell a few CGP and then buy SOLG or sell a few SOLG and buy CGP. Ratio between the two clearly giving some reason to trade/hedge.

TSX saw decent volume by their standards last night with 20% increase. Let's see if the mm's move the sp up ahead of 2.30pm open or just mark the TSX down at open. Bit of disparity there at moment that gores beyond normal forex issues.

rcgl2, I follow your sentiment but don't think they are aligned as you think they are. For instance... if they know they are getting a sale deal done, then why wouldn't they want to suppress the price so they can get more cheap shares?? They've done it already with the recent 17p placing imho. They could have got that away in August or September at mid 20's. Remember these boys have been planning this for the last 4 months or more. They got around the table in July. Do you think they all said... lets get a placing done at 25p and we can help ourselves or do you think they said... look... sale price likely to be lower than the higher target of 80p+ so lets all get some cheap shares before we do the sale and line our pockets!!!

Finally, you are aware that Maxit sold out all their SOLG shares 3 or 4 years ago to BHP at just 25p.

Still think they are aligned with your aspirations?? While many pi's are fully invested and can't afford more, the money men can average down or buy more cheap shares and that's hard to ignore when dealing with greedy money men.

It was close last time around at the AGM but I think CGP (can't be sure) were voting with BHP/NCM then??

Should get some TR1's today if BHP and NCM pull their finger out. Wouldn't be funny if the TR1's showed they had been buying???

Can't wait to see Blackrocks! But being sub 5% they might not need to update as oversea threshold is greater than 5% level.

addicknt, FWIIW, I don't think there's much in it for holders with less than 2% so hedge funds not likely to bother. The main player in this (imho) is Maxit. I think they are the doing the ARB work and the recent 23m shares will help them assuming they've forward sold. Remember they have a large CGP stake. As Redknight has pointed out, they are active in the market whether that be via apparent unrelated depts/companies on the same street/offices. Perhaps they just thought it smart to short half the 23m shares ahead of AGM just in case BHP and NCM pull rabbit out of the bag??

addicknt, as mentioned by a few already, it's likely there are a few ARB trading funds involved. They like playing merger stocks as there's some coin to be made through the forex gains/losses and the TSX v LSE imbalance. Not to mention the fact holding CGP shares gifts you SOLG shares post merger. So some will forward sell those shares. ARB funds will use ALGO's to work the 'trades' out for them. I think this is why we are seeing CGP TSX remain solid and SOLG TSX bouncing about by 20% on various days as liquidity not great there. Liquidity better on LSE which might explain why we are seeing greater volumes. of late.

I think the reality is, Maxit and their buddies have inside knowledge and have done so (apparently) since July when CGP and SOLG apparently agreed to Merge. Have a look at the sp back in July and then watch the fall from there on. Markets were flapping with inflation concerns too so not all driven by sellers.

But pretty clear to me that some knew what was being planned long ago and sold in the summer or shorted. Now with sp seemingly being controlled sub 19p, they can mop up loose stock or just place another 5% with someone at 17p and take 50m shares+ in next round. I doubt you'll see Maxits name on it though.... probably got to XIB or some new entity.

I said a while ago that 'nests will be feathered' ahead of a sale. When you have money men involved in selling an asset or company and a market that quite frankly doesn't believe they can do it.... it presents opportunities that are just too good to miss for those in the know.

I'm still scratching my head on how SOLG's leading advisor 'Maxit' can openly buy stock and sort a royalty deal that rewards them nicely.

Can't see Citi group acting like that can you?

pactrol,

I must have missed Bhp's recent actions... can you point me to the bit where they say they don't want SOLG or Alpala. Thanks.

Likely sideways movement until AGM sorted and merger completed on Jan 9th or thereabouts. Then you'll see all the activity being drop fed into market like Porvenir PEA, strategic review results, updates on resource drilling around Alpala but doubt they'll do a PFS2 as inflation numbers will kill any upside. But resource update on ENSA certainly possible after all they need to bolster the value of that asset if they are planning to sell it.

A reminder.... get your AGM votes done if you haven't already. It's easy to do. Just call your broker. In a few days time, the deadline will end and your votes won't be counted.

addicknt, how much cash does CGP have on their books? I thought they did a placing a while ago to raise $3m?

Once merger sorted, I think we might see another 5% placed... probably at 10p with Irwin and Maxit taking the lion share lol! I am kidding of course or am !?

What we know is.... $50m royalty deal signed with Osisko (which is basically the founding partner Maxit's side hustle! We have Maxit gifting themselves 23m shares and Scott and co 2m shares. And we have the Chinese up for 155m.

Thus far... Maxit are all over this and for the life of me I seriously can't understand why the regulators are not all over them. It's tantamount to insider trading!

Now remember.... Maxit are supposed to be working for SOLG shareholders to secure us the best deal.... not lining their own pockets at every given opportunity!!!

And just to put Maxit's skills into the light of day... remember.... they got in early with cheap shares in CGP and SOLG. They sold out the bulk of their SOLG shares to BHP for 25.5p 3 years ago!! Now they are filling their boots with cheap shares at 16p/17p. Ugly stuff indeed. These money men have no shame at all. And that worries me.