The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Whilst frustrating and dull, I trust that any price sensitive information (RNS) is being withheld in accordance with city regulations. Perhaps the BOD are engaged with suitors or existing shareholders on number of potential outcomes that would be damaged if a price sensitive update was released. Pure speculation on my part but a logical rationale for the silence. IMHO
Shazz, you’ll always get speculation in the stockmarket but the company has to be compliant with listing rules and maybe there is a valid reason for no news. The strengthening of the board last year has probably instilled new corporate disciplines and culture. We can only speculate, but one thing we do know is that they have made a huge discovery of copper and gold, and that’s fact rather than fiction. Dull but I’m sure patience will be rewarded
Let’s us remember that NM and the BOD are running a exploration company and not a share price. Easy to get frustrated, especially with the lockdown boredom but I’m sure there’s a rational explanation to the lack of news flow
Well spotted Ice. Interesting as my to my knowledge Marex have always been very heavily involved with the London Metal Exchange. Would be very hard to break into the retail market with SOLG so I would agree it looks more likely to represent some type of corporate exposure or arrangement
Looking at the trades, a bargain of 283,976 was booked out at 16.45 at 37.962p. This is more than likely the large seller at 38p who has had .038p commission (10bps) deducted to give that net price. Hopefully not many more to complete the order
Iceberg, I’m a big fan of royalty deals and have been actively involved in a few. Think it’s was a great deal for Solgold by NM but BHP sadly weren’t impressed.....probably by the fact NM had gone elsewhere for the cash. This clearly offended our two biggest mining shareholders who would have loved to have increased their equity stakes for obvious reasons. CGP were clearly never going to like anything orchestrated by NM. BHP will argue that a royalty affects their position on the cost curve but that’s a lame excuse as they’ve a history of mining on ground with associated royalty agreements. BHP remains potential a “giver” of royalty payments but never a “taker” IMHO
Iceberg, you make some fair points but I struggle to see how BHP can put up £50m ? NM certainly won’t issue further stock to BHP and any bond from the BHP prospective would need to be convertible into equity. It’s going to be very interesting and I envisage NM will take the £50m from FNV