Member Info for mattlilly

In Latin America, Jiangxi and Minmetals are developing the Galeno property in Peru's Cajamarca region, which includes four concessions containing copper ore, silver, gold and molybdenum, through Lumina Copper.

Mining company with Chinese capital, China Minmetals Corp (60%) and Jiangxi Copper Corp (40%)

China Minmetals Corporation is a Chinese metals and mineral trading company headquartered in Beijing. It is a state-owned corporation under direct supervision of the State-owned Assets Supervision and Administration Commission (SASAC). China Minmetals is engaged in the production and trading of metals and minerals, including copper, aluminum, tungsten, tin, antimony, lead, zinc, and nickel.

It is one of the largest metals and minerals trading companies in the world In the latest Fortune Top 500 Rankings, the company ranks at 120th with the 1st place in the metals industry.

Minmetals (MMG) is a wholly owned subsidiary of China Metals

Minmetals, parent of Hong Kong-listed Minmetals Resources Ltd (1208.HK) and Shanghai-listed Minmetals Development (600058.SS), is focusing its overseas expansion on Latin America and Africa to secure natural resources to supply a fast-growing Chinese economy.

In 2011 Minmetals (MMG) launched a $6.5 billion takeover bid for Equinox Minerals, a Canadian mining company. It was the largest unsolicited takeover attempt by a Chinese mining company to date.

https://www.proactiveinvestors.co.uk/companies/news/81676/anvil-mining-says-minmetals-takeover-offer-extended-21532.html

For those who don't want to read all the grey matter, here is the key point:

"Compared with domestic counterparts, the acquisition mode is very similar to an overseas acquisition case by China Minmetals Group and Jiangxi Copper 2 years ago. Tongling Nonferrous Metals Group first set up a joint venture company with China Railway Construction Investment Company Limited and then acquired Corriente Resources through this JV."

The shares have been bought by Jiangxi Copper (Hong Kong) Investment Company Limited, almost certainly on behalf of Jiangxi Copper Company Limited (which is 48% owned by Jiangxi Copper Corporation (essentially the Chinese Government...)

Blackrock owns 1.9% of Jiangxi Copper Company Limited...

So its possible that Blackrock has been using its investments in SOLG to hold the SP down while Jiangxi acquires shares in the market...

Meanwhile, 39.91% of the shares in Jiangxi Copper Company are owned by HKSCC Nominees...I wonder who that might be...? What if it turned out to be BHP or another major...?

Don't be surprised if a TR1 is for another Chinese company, because their classic way to acquire overseas mining companies is to J/V between TWO Chinese operators.

Here is how they did it at Mirador (in Southern Ecuador)

"China largest and third largest copper producers Jiangxi Copper Corporation and Yunnan Copper Company Limited respectively have become partners with China Minmetals Group and Aluminum Corporation of China Limited and now Tongling Nonferrous Metals which is the second largest copper producer has finally found someone to fall back on. Tongling Nonferrous announced December 29th 2009 that its majority shareholder Tongling Nonferrous Metals Group Holdings Company Limited have joined China Railway Construction Corporation and acquired 66.67% of the shares of Canada's Corriente Resources with CNY 4.41 billion.
Tongling Nonferrous Metals Group defeated many competitors for the acquisition. According to Reuters news agency last year, companies including Tongling Nonferrous Metals Group, the world's fourth largest copper producer Switzerland's Xstratar Company and the world's largest copper miner Chile's state copper company Codelco all expressed interest in participating in Corriente Resources' Panantza, San Carlos project in southern Ecuador.
Compared with domestic counterparts, the acquisition mode is very similar to an overseas acquisition case by China Minmetals Group and Jiangxi Copper 2 years ago. Tongling Nonferrous Metals Group first set up a joint venture company with China Railway Construction Investment Company Limited and then acquired Corriente Resources through this JV.
Although Corriente Resources is listed on the Toronto Stock Exchange and the New York Stock Exchange at the same time, its main asset lies in mineral assets and mineral interest in the Corriente Copper Belt in southeastern Ecuador."

The only buy prices I quoted were based on 10,000 or so because I didn't have the cash availabled to do large dummy buys...

The SOLG market is very quiet today...

SP well down but so is the RSI which is at its lowest level for some time at sub 30...

And yet I can buy 250k or sell 350k at the market price...

I wonder if the 'big buyer' is filled and we may expect a TR1 in the next 48 hours...?

Lull before the storm...?

Looks like weve got another infestation...

Disappointing close...

But UT 570,232 at 19.20 and...

454k after hours means Total volume was 5.1 million...

Meanwhile in Toronto...

CGP $4.61
SOLG 20.15p equivalent

Have a good one

Sorry CMG...Bozi is filtered...

Almost 8 months...

Take out the spike in April and its at an almost 2 year high...

SOLG at 20.15 on TSX...

Theres not going to be a J/V...

CMG

CMG"We had 40p not so long ago, without a JV on board..
Just curious why you say we would only reach that price. "

Probably for the same reason that we fell to 12.95 (down 68%) in the last 9 months before bouncing....

Even with all the bid talk we're still sub 20p...

F***ing ALGOS taking this down again...

sire...

Its not so much the 'value' of Cascabel in a JV, its much more choosing your exit point or waiting years with a stagnating share price while the project is developed...

Someone's very very hungry...

Firm bid for 600k at 19.54...

100k at 19.72 vs Market price of 19.68/19.78

Offered at 19.88 and I'm firmly bid for 600k at 19.72...

Break 20p and the next target is 23/24...

Who says theres not a bid coming...looking at the constant higher volumes and the SP march upwards from 16.32 on 25 November, something must be happening in the background...

In case you missed my footnote at 10.45 yesterday...

"Finally, someone who I rare as an expert on Solgold is buying...right now.."

Some chunky OffBook deals going through this morning at the price...

I wonder if its my man buying...

And no...I have nothing againt GGP investors, just posting a cautionary note re Solgold...

If you want to consider the risks of a J/V and the possible SP effects, just look at GGP, NCM and Havieron...

November 2020:

"Newcrest and Greatland sign new landmark agreements to facilitate the acceleration of early works and expanded exploration activities at Havieron"

SP rises from 21p and tops out at 37.35

SP drifts all the way down to 15.6 in October 2021

7 October 2021 PFS Results and SP spikes to 15.6

Recommences its drift down to 9.3 in July 2022

19 August 2022:

"Further to Greatland's announcement of 21 July 2022, Greatland is pleased to advise that Newcrest has elected not to exercise the option under the Havieron JV agreement to acquire an additional 5% interest in the JV from Greatland"

SP now stands at 7.5p...80% below its peak...and investors are still waiting for the crock of gold...

Be careful what you wish for...

So vote for the key players so we can get this thing done quickly...otherwise BHP will bleed us dry...