Member Info for Jerryspaniel

When looking at the premium, I think you need to realise that the sp was $12 about a month ago. Presumably it got leaked and then ran to $15. so I would say a 54% premium from when the rumours started...

I would guess their solgold stake is for sale….

Thanks guys.
Wonder how much they could sell of Alpala/Cascabel at $100m for each percent?

Flare I think I was trying to post in the style of the great one. Anyhow if you come to the next Stag meeting you might meet us both. Virtually twins.
ATB Speedy. or JS......or...?

RK and addicknt a question for you corp finance types (and any others too). If Solgold wanted to do another tranche with FrancoNevada would they need a special resolution at an AGM/EGM and if so what would be the voting threshold?
Just thinking of one way to flush out a bid from BHP.....

Maybe, NC would help CJ go back on the board as CEO to sort the mess out, get the company sold, so that NC can liquidate their investment and then CJ can revert to a senior employee of NC (he has his hands full with Lihir I think).

Does it include a silent baseball bat?

Viking and speedy. Maybe next time we have a problem with the moderator of this site you could pop in to their offices and ‘have a word’?

Morning speedy. Don’t you just think that all the players will get some kind of exemption/stay of execution and the can will be kicked down the road one more time?
These guys, the bullion banks, are on the inside. They can’t defeat Russia and China but BIS and LBMA will do whatever they want.
Strange feeling to want China to destroy the LBMA but that’s where we are now.

Rich, I agree that the govt wouldnt want anything to happen that would slow the road to production. However its not impossible that BHP could slowly strangle Solgold whilst Solgold pushes forward with the mine plan. I dont think they have to be either or.

IMO this is the best dialogue we have had on this board for ages. Its really interesting, but lets drop the name calling. We dont know anyone's backgrounds so lets assume that each person has valid points.
I still think there may be an opportunity for BHP to assert some kind of influence, control or dominance over the Solgold board, which I wouldnt want to see. I dont mean this year or next year. Miners play the long game and BHP are looking to control Solgold imo and wont care how long it takes. If they also had some nastiness about them they may feel like sticking it to NM with a slow death, but I would hope they would be above that.
Unlike most on here I have met NM, at the Mines & Money conference in London probably Dec 18. I really really didnt like him as a person. Rude and arrogant would be the politest words that I could use to describe him. So that will tarnish all my thinking naturally.
My current voting intentions would be to support JW and KM and vote against BM. I am undecided on LT as I am not sure what signal it would send if he was resoundingly defeated or resoundingly supported.
Maybe if Forrest loses to BHP on Noront he might make a bid here just to force BHP into paying more than they want. Farfetched? No idea, but if Forrest bears a grudge I wouldnt rule it out.

RK, my issue is can we get rid of Moller (who is totally useless and has been for years), without allowing BHP in by the back door? If Twigger could put a new fresh face (maybe someone with experience of standing up to BHP) on the board to replace Moller I would be delighted.

I would like to reiterate that I dont see NC as part of the long term solution. My take and its only an opinion is if Sandeep could have the time again he wouldnt have bought the stake in the first place. When they invested, they hadnt bought Red Chris and GGP hadnt discovered Havieron, let alone NC farming in. So for NC at the time it was about sowing some seeds. This one hasnt sprouted in the way they would have liked and so its become somewhat less relevant to them.
The trouble with this theory is that they may sell to BHP and that would put BHP in a strong position with the right to two board seats I would think. This is when the so called diversity can work against our interests.
I would much prefer to see NC sell out to another major, who then goes toe to toe with BHP.

Morning ToS. I think you have summed up my feelings pretty well too.
For me its more interesting to try and work out the BHP tactics from here on. Will they (say) issue a tender offer for enough shares to take them to 29.99% at say 45p? I am sure they would get that amount quite easily and that would turn up the heat just another notch or two.
Then they could demand 2 board seats and start to work away from the inside. Mining is a long term business for these guys so they can play the long game.
But what would that tender offer result in for other players? Would it flush out full offers from other players? I would hope so.
The war gaming will be going on in every investment bank who is interested in the mining sector.

RK, I can certainly see why NM may want to sleep with the devil, just not sure that BHP would see having NM on their board as a price worth paying. Would running BHP Ecuador be worthy of a board position? I doubt it. So its to pay him off, not sure they would pay that much.
Anyhow its become a soap opera now. Dont think my 2m shares will decide things, so might as well just watch from the sidelines.

RK, thats an interesting take on things.
But would the mighty BHP want to offer NM, the ageing ex ceo of a tiddler, a board seat? Do they really want it at that much of a discount to do that?
My inclination is that the board dissenters are more likely to be the Ecuadorean, who might want to encourage a BHP bid or Elodie, who is a big company person, or KM who may well be fed up with the whole fiasco. or any of those three.
NM would have to be a complete turncoat to want to get into bed with BHP. Just dont see that.
Maybe your connections can get you to tell you who the dissenter(s) is/are?

Amazing what it says and doesnt say. Nothing unanimous, just a majority. This is the beginning of the end.
Its a corporate 'put up or shut up', IMO. The next few weeks will be interesting, possibly fun.

Quady, actually I am pretty sure NC have their own expertise.
Of course if what you are saying is true then every mining company has block caving expertise, which they blatantly dont and the article would be a lie, which I dont think its is.

This is totally ridiculous. I wasnt going to say anything further but it appears that some things need clarifying.
It would appear that I am being accused of saying things I didnt and meaning things I didnt.
Yesterday I queried TomE as to why he should be questioning something posted by Bamps - obviously I had no idea that they were besties.
I then had TomE going hysterical at me, with words like fool and stupid. Bamps was upset too.
Now I speak with Bamps on many forums and I apologised to him in a personal message if I had upset him. I never said anything about the enemy within to my knowledge.
For the record I hold Bamps in the absolute highest regard. We had breakfast together after the last Stag meeting. His wife is lovely too. He is off the scale brilliant in what he does for us all.
I do reserve the right to question things I find odd. I dont find anything that Bamps has said or done as at all odd. If I did I would send him a private message, not insult him on a public forum. He absolutely doesnt deserve that, and I cant imagine that he would ever say anything that I would disagree with.
My views on the other character will be kept to myself from now on.
Sometimes when the lse take things down, we seem to lose all track of reality....

In the Biswas interview it states there are only four companies with any block caving expertise. BHP wasnt one of them.
Freeport, Codelco, Rio and Newcrest.
Buts its OK cos Quady says we will buy in the expertise from an engineering company.