Member Info for mattlilly

Thats not a rollover, its a buy (earlier buy and cancel)

Heres my take...

She had lunch with someone who said "SOLG's going to get a bid soon"...

She said "that rumour is as old as the hills" but...

She wrote that pointless article so as to be able to say "you read it here first" when the bid comes, while straddling two stools, the other having been made by Quady..."Whoa! We're going to production...Whoa in the Ecuadorian hills..." (To the tune of 'Barbados')

In my opinion the Necrest bid could add real value here. Apart from the obvious speculation as to what Newmont or any counterbidder would do with the SOLG stake (keep it and bid for the rest; or sell to the higest bidder...), it is reasonable to assume that many majors will have run the rule over Solgold, especially those with a footprint in Ecuador, and may well decide it is time to get shopping for the best Junior Miners...

In the meantime, I guess the best clue we will get as to when the merger will close or especially when the first bid is coming, is when the SP starts to move up and doesn't get smacked back by the ALGOs like yesterday.

Seems like XIB still have their 12 million short position...when will they close...if not already...?

Its getting pretty tedious DBW isn't it...?

Thanks Novice...45p by Friday...?

Sell the main asset or...more likely...sell the lot!

CGP and Maxit are in this to make money...quick...(fast and smart...)

Interesting thought Jerry...but at what price...Newcrest said they would continue to hold SOLG as a 'strategic investment', so surely they will at least want their money back...?

Orthern...I'm not desperate, except to see how, recently, every time we show some signs of recovery, the ALGOs take us down...today in strength since 9.00

May I repeat...one guys comments on LSE would not have the slightest effect on the SP...

You can call it ramping and yes I do have a very committed position, but I'm certainly not desperate. We have £100sk invetsed in opther stocks and Gilts.

But I'm certain that a bis is coming...its the only thing that makes sense...and soon...

As always, the SOLG management have sadly underestimated the timne it takes to do mundane but mandatory tasks.

I expect the merger to complete this week and then the real market can start.

Best wishes and respect for your right to an opinion.

As a footnoe: whatever Necrest decide to do as a rsponse to a wanted or unwanted approach, they or their suitor will have to ultimately decide what to do with their stake in a Tier 1 Copper/Gold prospect...

So why not a poison pill...? Disruption is the name of the game in 21st century business...

But as the Colonel implies, this could well kick off the long overdue M&A fest in mining...and the Juniors look as undervalued as they have in a very long time...

But it increases the likelihood it could be sold...or even that Newcrest could bid for SOLG....?

Poison pill defence...?

Somebody got tired of waiting...? Used the move to lighten up...?

150k sold at 16.40...could be sorry even before the end of today...

Looks like we're on the move...but for how long...?

The Newcrest factor? Or something else?

This could be the big week...merger done...first bid...fingers on the button...

Also from HH...

"something big is going to be announced in the short term. "

He's spouting rubbish to a high degree...

Look at ATYM...by this time next year they will be providing more than half their energy needs for mining and processing copper from renewables...

Quiet on SOLG...

HH is more voluble...

To all intents and purposes the SP is neither rising nor falling, despite whats happening in the markets at large...

Meanwhile for those who are convinced a JV is coming, you might find this interesting...

https://www.mayerbrown.com/en/perspectives-events/publications/2020/11/joint-ventures-in-mining

China's Belt and Road Initiative

"In August 2021, Ecuador's President Guillermo Lasso decided, through an executive decree, to speed up strategic mining projects with the goal of Ecuador becoming a copper powerhouse. Ecuador is trending in this direction as mining exports in 2021 increased 99% from 2020, according to Ministry of Energy reports. Foreign investors, including Chinese enterprises, will play a driving role in determining Ecuador's ability to realize this goal. China itself is incentivized to invest in Ecuador's copper industry as China attempts to grow and diversify its sources of copper. In 2020, NASDAQ found that copper produced at the Mirador mine was exported directly to China. "

https://www.tearline.mil/public_page/copper-ecuador/

"Boris Mikanikrezai, metals analyst at commodity specialist Fastmarkets, one of the leading experts in commodities markets has warned that the West has fallen behind China in the race to secure copper supplies, due to its short-sighted approach to commodities and energy policy.

He told City A.M. that China’s dominant presence in emerging copper markets meant the West was in “more trouble” than its rivals when it came to obtaining essential minerals to meet its future needs."

https://www.cityam.com/the-west-faces-copper-crisis-as-china-dominates-key-markets-warns-expert/

Corriente Resources owns Mirador.

Corriente Resources was a multinational corporation based in Canada that completed feasibility studies and environmental impact assessments (EIA) for open-pit copper mines in the Ecuadorian rainforest, including the Mirador mine.

n 2010, the company was taken over by state-owned Chinese companies Tongling Nonferrous Metals Group Holdings Co. Ltd. and China Railway Construction Corp. Ltd. through their jointly owned subsidiary CRCC-Tongguan Investment Co. Ltd.

So the partners in Mirador are Tongling and China Railway Construction Corporation (CRCC)

The major shareholder of the latter company is the state-owned China Railway Engineering Corporation (CRECG).

Tongling Nonferrous Metals Group Holding Company Limited is a state-owned enterprise involving in extracting copper resources and smelting copper and other non-ferrous metals.

And of course Jiangxi Copper Company Limited was formed by parent Jiangxi Copper Corporation, which is owned by the Chinese government, in 1997.

So if you are putting all this together, basically the Chinese Government owns CRCC through CREG; and Tongling; and Jiangxi...

https://www.mining.com/charts-chinas-overseas-copper-mining-scramble/

"Data...indicates Chinese companies invested more than $56 billion in overseas copper assets between 2005 and 2020. "

https://www.forbes.com/sites/thebakersinstitute/2021/04/05/chinese-firms-position-for-an-energy-transition-copper-supercycle/

China's existing huge copper project in Ecuador is Mirador...

The project is owned and operated by Ecuacorriente S.A. (ECSA), a subsidiary of the state-owned Chinese company CRCC-Tongguan Investment Co. Ltd, which comprises Tongling Nonferrous Metals Group Holdings Co. Ltd. and China Railway Construction Corp. Ltd.[4]

The major shareholder of the company is the state-owned China Railway Engineering Corporation (CRECG).

Lawyers acting for the acquisition of this project were dwvp...specifically Ian McBride...

And guess what...

DWVP is "Acting for Cornerstone Capital Resources Inc. in its proposed merger with SolGold plc pursuant to a court-approved plan of arrangement, consolidating ownership of the Cascabel project in northern Ecuador."

And they also acted for Maxit Capital LP, as a financial advisor to Guyana Goldfields Inc., in a successfully contested plan of arrangement under the Business Corporations Act (Ontario) in relation to Maxit's retainer agreement with Guyana.

And of course Maxit acted when Anglo-Australian BHP agreed with Guyana Goldfields to buy a 6.1% stake in Australian SolGold...

And then of course..."In October 2016, SolGold shareholders rejected a BHP investment proposal for the development of the Cascabel project.

BHP had offered US$30mn, or 22 cents per share, for a 10% stake in SolGold.

Instead, the shareholders accepted Australian Newcrest Mining's offer and a proposal by private investment company Maxit.

The deals called for Newcrest to spend US$22.8mn for buying shares equivalent to 10% of SolGold, while Maxit got 4.43% of the company for a US$10.1mn investment."

"In the last month Ecuadorian porphyry developer and explorer SolGold has attracted Jiangxi, the largest copper producer in China, as a third strategic investor on its register in addition to BHP and Newcrest, prompting speculation of a potential bidding war."https://stockhead.com.au/resources/asx-copper-plays-looking-mighty-attractive-as-price-heads-north-and-ma-ramps-up/"