Member Info for mattlilly

From the article...

"China became Ecuador's top lender over the last decade, with millions of dollars in long-term credit tied to the handover of crude oil, large investments in hydro-electric and mining projects and other loans."

I respect your an opinion Lunch, but in practice and in my experience over 30 or more years, even the biggest of companies makes irrational decisions on Bids...

https://www.forbes.com/sites/greatspeculations/2016/07/21/why-companies-overpay-for-acquisitions/

Lets hope that happens here...

Which is why I believe a 'low ball bid' would be a total waste of time here and, any bidding war for Solgold would produce a final price between £1/2...

However, apologies because I should have been more precise...'detailed due diligence' to support a 'recommended (accepted) bid'...

Lunch...you're very knowledgeable, but have you actually conducted such due diligence for a publicly quoted company...?

Because I have...indeed I directed the whole process working with the other side's lawyers...

Quotes from your link:

"The due diligence exercise on a hostile bid will initially be limited to reviewing publicly available information.."

"The due diligence exercise in respect of a RECOMMENDED bid consists of a review of publicly available information and any non-public information the target company is willing to disclose."

If a PFS hasn't been published the prospective acquirer would have to rely on their own analysis and estimates...

"What would they be telling their s/h's Solg was worth if they didn't know themselves?”

They won't be telling their shareholders anything until a bid is announced. At that stage they will lay out the basis of their bid.

Due diligence takes place AFTER a bid is accepted as it requires both parties.

This is what BHP said to their shareholders when they announced their first bid for Noront:

"Noront represents a growth opportunity in a prospective nickel basin capable of delivering a scalable, new nickel-sulphide district and provides the BHP group with more growth options in future facing commodities."

And

"For BHP, the acquisition of Noront presents a world-class growth option, in a key future-facing commodity. The highly prospective Eagle's Nest nickel project provides an excellent platform from which to develop further opportunities in Ontario's Ring of Fire. "

Thats all....

Due Diligence would take place AFTER an accepted bid, as it requires co-operation with the acquisition target party to complete it...

Rio Tinto acquired a controlling stake in Oyu Tolgoi...biggest copper/gold mine in the world; in 2013 but a PFS wasn't completed until 2016...

Inco acquired Voiseys Bay, the largest nickel deposits in the world in 1996 without a feasibility study...

BHP have had their top geologists in Ecuador 'crawling all over' Solgold for a couple of years now...

They will already have their own preliminary view on the value to them of Alpala, together with their opening bid and highest price they are prepared to pay IF they make a bid or get sucked into a takeover battle as with Noront...

I repeat...the PFS could be used as part of the bid defence or in preparation of the buildout if Solgold proceeds (unlikely)

The idea that any or all bidders will wait for the PFS of Alpala is preposterous...

Why? Because they would be bidding for the WHOLE of Solgold not just one prospect...

AIMO as usual...

Personally I think a bid is far more likely...

BEFORE the PFS...

And immediately countered, whatever level it is pitched at...

I think the PFS is now central to any bid defence...

Bit what's happening with RIO...

MD&A next Monday...surely got to be a RIO RNS before then...?

As of last week there were no deals imminent...

The Board are legally required to consider and announce a serious approach, whether bid or JV...

In the meantime, the international investors are happy with Darryl and the strategy going forward...

Top post again Lunch!

Sorry...POLY to sell 25589...SOLG to buy 25450...

So far I'm up Colonel...barely...

POLY current value 25589
SOLG 100k value 25450

But it doesn't matter...all I need is for POLY to outperform SOLG over the short term before I switch back in...

That is a VERY interesting analysis buffa...

And it wholly supports my massive commitment to gold and silver shares...

Also, there is a strong correlation between the SOLG SP and the Gold price...

BTW China has already launched a digital yuan, which will surely be launched in HK as well...Bloomberg ran an article showing ordinary people with digital yuan top up machines (aka cash machines) and showing people with digital yuan on their phone and transacting in shops...

It all fits with a masterplan to take down the dollar which almost certainly means the Fed has been quietly loading up on gold in the background...and with the Basel changes to come soon...

Can somebody make sense of this...?

I can only go back to 13.54 yesterday, but since then there have been 25 individual trades of 1200 shares, the vast majority of which look like sells...

Is somebody manipulating this SP to keep it down for some reason...?

Very very thin market suggests to me the market is well short of stock...

MMs easing the price down to try and get stock onboard, but nobody is really selling...

Its just taken me 5 'Market Size' transactions to buy £20,000 worth...

But here is the irony...I had a Fill or Kill for HALF that amount fail at 123 (best price 123.2) but I've just bought double that at 121.49 in smaller trades. Yes I know about dealing charges but II is only £7.99 a trade so £32 extra to save £260...nuts!

VERY happy to hold these long term now...silver play...Brokers target 265p...could this be another ATYM? (A year pre production 80p...now over 400p)

Why would there be a need for a placing before the PFS Colonel?

I don't mean for Alpala...i mean that we can survive till the PFS with sufficient money for drilling; the PFS and other news will spike the price...then you raise equity at better terms...

However, a placing would suit me very well right now, being 100k short for the time being...

Is there something you know that we don't?

It would be a result if Darryl insisted on redoing the presentation rather than having to wade through the same old same old to find a couple of microscopic changes....

English synonyms:

'bring to market:"

market; bring to market; offer..for sale in the market; take to market

"that contact of yours" is in a position to know and he is the most positive I have ever known him...

This can be pervasive...