Member Info for mattlilly

Hooray!

19 people have voted Yes so far to the post below...

Thats quite a lot wouldn't you agree Stackhigh?

"So...with Bozi, Quady and others advancing different scenarios that don't realise as much monetisation or as early as a takeover battle...

Please "Recommend" this post is you would acceot a takeover offer at a reasonable price now...say 80p..."

On 28 April 2021 SOLG did a placing of 208.2 million shares at 25.5p...

"The Placing Price represents a discount of approximately 11.1 per cent. to the closing mid-market price per share of 28.7 pence on 27 April 2021."

Were Solgold desperate at that time Orthern...?

GGP recently issued shares at 8.2p...

"The Issue Price represents a discount of approximately 15.5 per cent. to the closing mid-market share price per Ordinary Share on 23 August 2022"

I said recent Orthern...

BHP actually made a bid for the whole company having acquired guyana Goldfields stake and got the new shares as a consolation orize...

"there is a very real chance that we won't be 'off to the races', and that no one will try to buy any part of solg for the next two years."

How is that "factual information" rather than just your opinion...?

Orthern it was a discount of only 2% to the price the day before...which is pretty good...

Please give me a recent example of a premium being paid for a placing...?

Have you considered the possibility that SOLG CHOSE to sell to Jiangxi to create tension with BHP, NCM and anyone else who might be interetested...?

So its cheap...we agree on that...

But unless theres a bidding war there is no sensible reason why they would buy this.

Supposing the SP were to recover to 35p? (I can't see that as there is no substance to go for other than very strong bid rumours or an actual bid...they would make a profit of $30 million...

Based on their 2021 Revenues they can earn that in 24 Minutes...

I'm afraid I need a much stronger argument than that...

Agreed Orthern...

Sorry teleg again...

And still only one of the posters who insist a bid isn't coming has answered this simple question?

"Why did Jiangxi buy 6.3% of Solgold...?

Four times the current pri ce...

Just trying to get the message over telegrap...

Theres at least one bid coming and the shares are worth much more than 17.26p...

Broker average below is 69p...and thats on an assumption of taking Cascabel to production... (just for you Quady)...

2 cracking footy matches to watch on catchup from today so far...

Unless the sales are balanced on the other side DBW...lightening up in readiness for a takeover battle with more liquid instruments...

Bank of America has a target of 75p with a thought "where there's smoke..."

Up to date trading info...

Blackrock sold 16.5 million recordes 8th Nov and 7 million on 23rd Nov

Konwave transition metals bought 11 million this month

JP Morgan bought 13 million

BNP paribas bought 5 million … first holding.

West Yorkshire pension fund 4 million buy - also new holder.

Bank of America also appears to be a new holder of 1.4 million

Meanwhile Broker targets:

Hannam 85

Canto Fitzgerald 68.21

Peel Hunt 65

Clarksons 38

Liberum 44

Paradigm Capital 103.89

Industrial Metals down; FTSE100 down; SLOG up 4.2%...

Looks like the market is starting to take notice...

Mathers...it was MITSUI who met the Ecuadorian Minister of Mining...

You still haven't anwsered what they stand to gain from a $30 million investment which represents 0.15% of their total assets...?

On a whim..?

As a pet project...?

Because they believe in the management of Solgold and the opportunity to invest in a $2.7bn NPV mine...?

While both BHP and NCM have twice the stake and could each have a Director on the Board...?

Do the Chinese do anything without very careful research and a clear motive...?

So I repeat...why did Jiangxi buy 6.3% of Solgold...?

Doesn't anyone have an opinion or an alternate explanation...?

Thanks Orthern for your constructuve response.

I can assure you my glasses aren't rose tinted, although you might be forgiven for thinking so with 2.3 million shares...

I totally agree "things may not be as great as we were once told they might have been." and am prepared to believe the growing hype being generated by people in the know, including a M&A specialist appointed to advise both SOLG & CGP.

I also believe that, given the undoubted asset we have here and neither BHP nor NCM walking away, plus Jiangxi buying in and Mitsui saying they want a slice of the action, there are two convergent reasons for shelving PFS2 and Porvenir PEA.

First, energy and other costs have risen sharply and the copper price has fallen to BELOW the $3.60 assumption in PFS1.

So I'm certain that PFS2 would have come out with a worse result and that would further undermine the SP...

And there is absolutely no need for PFS2 if we press on for DFS...so why spend the money...?

Or...given that CGP's SP was falling and they would struggle to raise any cash to develop their prospects other than selling SOLG shares at beaten down prices; and...Mather's dream of being a major miner has been quashed (and he aint getting any younger...), they have been persuaded by Sangha that the sum of the parts is greater than the whole, especially when you amalgamate the 85% and the 15%...and that the best way to monetise the assets at anywhere near decent value is to provoke a bidding war.

And I've never said there are majors circling SOLG...

I just think when the 2nd best new copper project and the 9th best new gold project, let alone Porvenir, Helipuerto, Rio, etc receives its first bid, it will trigger a competition (unless its a knockout bid).

There is no denying a looming massive copper shortage and that the majors' existing resources of copper and gold are being run down at an alarming rate with little imminent replenishment on the horizon.

And while RIO tries to make sense out of the mess that Toyu Olgui is, in remote Mongolia, surely such a rich asset in stable Ecuador, with potnetially untold further riches from the Andean Belt, must look incredibly attractive....?

So who will break ranks first...Jiangxi, BHP, Mitsui or someone else who doesn't even have a stake.

After all, BHP didn't before they waded into the much smaller Noront opportunity...

So I repeat...why did Jiangxi buy 6.3% of Solgold...?