Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The interesting thing for me is if you add up the additional shares taken by BHP, NCM & BR it comes to approximately 62m shares which is roughly 30% of the 200m placing which means that approximately 140m shares representing about 7% of issued shares now sit with unknown and most likely new investors including institutions and possibly other mining majors. This would help explain the companies excitement about the new holders on the share register. Just wish we knew who they were!
The interesting thing for me is if you add up the additional shares taken by BHP, NCM & BR it comes to approximately 62m shares which is roughly 30% of the 200m placing which means that approximately 140m shares representing about 7% of issued shares now sit with unknown and most likely new investors including major institutions and possibly other mining The interesting thing for me is if you add up the additional shares taken by BHP, NCM & BR it comes to approximately 62m shares which is roughly 30% of the 200m placing which means that approximately 140m shares representing about 7% of issued shares now sit with unknown and most likely new investors including institutions and possibly other mining majors! This would help explain the companies statement being excited about the new holders on the share register. Just wish we knew who they were !
Add - Spot on! It comes as no surprise to me that none of the new major investors have a declarable stake above 3% as this was pretty much impossible given the amount of shares offered in the placing combined with the fact that existing holders such as BHP/NCM could maintain their %age holding. On the positive side Solg have stated that they were very happy with the take up by a number of large institutions which I think bodes well for reaffirming the quality of the exploration assets possessed by Solgold. All very positive IMO
They are increasing their exposure to copper through several MEGA PROJECTS. He goes on to say how excited he is even if only one of the projects delivers and how copper will have its day in the sun towards the end of this decade.
Wonder which Mega Projects he is referring to? There are very very few such copper projects so not too much of a stretch to come to the conclusion that one of them could be Alpala?
Thanks RK. I was basing my comments on the “Google Finance” SP but this doesn’t give details at individual trading level and as the LSE site is always about 30 mins behind the real time trades it’s perhaps not surprising that my assumption was wrong! Naughty boys step for me then :)
Oh and by the way very reassuring to learn your still long and strong!
The focus at Alpala is the delivery of a Preliminary Feasibility Study ("PFS") by year-end and a seamless transition into the delivery of a Definitive Feasibility Study ("DFS") shortly after this.
The wording of the paragraph above IMO seems to suggest that the DFS will be published shortly after the DFS which to me means Q1 next year (which is about 9 months earlier than some have speculated)
In respect of the combined size of the Placing and the Retail Offer, limiting the issuance to a maximum of 10% of the Company's existing issued share capital (5% unrestricted + 5% related to specified capital investments). In addition, the Company has taken into account certain other provisions of the Principles in implementing the Placing, in particular as regards prior consultation with shareholders, that the Placing is being undertaken on a soft pre-emptive basis and that the Company's management will be involved in the allocation process.
I’m intrigued by the bit about “5% unrestricted plus 5% of the placing being related to specific capital investments” which when taken with the statement that “the Company's management will be involved in the share allocation process” Does this infer that up to 5% of the offer can or could be allocated to a shareholder or holders at the discretion of management? I ask this question specifically with the Chinese in mind and wonder if this is a way of increasing their stake in Solg?
DBW - Yes I too was excited by the prospect of an MRE3 for Pov within the next few months! Quite amazing and really underpins Solgs excitement when they first sunk a hole into Pov including I think a quote along the lines of “There’s a company maker right there” ( or words to that effect) And let’s not forget that the SP spiked up to around 42p at the time of the first assays from Pov so really exciting times ahead in the next few months IMO