Member Info for mattlilly

I totally agree...i.e. the independent Directors...

Remember this insightful article from August...Livermore are a significant investor...plenty of insights here...

https://www.mergermarket.com/info/solgold-go-it-alone-strategy-debated-ahead-october-showdown-–-shareholders-bankers

"If BHP were not restricted until October it would likely have already made an offer for the business, this banker speculated. Newcrest is less likely to seek an all-out acquisition of SolGold, this banker and two further bankers said."

"SolGold is right for consolidation, he said, so it must either be sold or build the Cascabel project itself, but it is difficult to see how current management can do that on its own. There is a lot of value in Solgold’s assets and a sale of the company would be desirable, he added.

As with Newcrest’s stake review, Livermore wants to get some perspective on the situation, Neuhauser said.

It may be the tactic is to attract an offer, and that COVID-19 might have slowed down a potential sale, but given that management own a large stake in the business it may also be focusing on developing the company itself, he said.

“You don’t want to get stuck in this asset, you want movement on an offer or on the Cascabel project, which has massive potential,” Neuhauser said

BHP is most likely interested in owning Cascabel given that so very few assets of this size are available in the world, Macdonald said. “It is a monster.”"

"“With copper prices on the up, and gold going gangbusters, I think someone will make a move towards end of the year,” Macdonald said. “We want to launch a strategic review and sale process in order to open up the data room to a wider universe of companies and get competitive tension to maximise value for shareholders.”

The sale process could be structured in such a way as to allow third parties to competitively bid, given the concentrated ownership, and that would support a friendly deal and encourage success, he said.

Timing is important because, at the end of October, the first 12-year concession period will have only two years remaining and so a feasibility study needs to be completed, Macdonald noted. A major miner will want to conduct this study itself, in-house, rather than rely on SolGold to do so, he added.

SolGold may believe that by convincing the world that it is going to build the mine itself then it will encourage BHP, Newcrest or another party to swoop down with an attractive premium offer, Macdonald suggested."

Etc......

Its not a massive vote of confidence...look at my post below...

Sorry for the typo...

$7.8 Trillion....

752 million votes were cast against Mather...

BHP is 283m
NCM is 281m
CGP is 157m

That makes 721m

Votes in favour were 930m...

It is fair to assume that Blackrock (115m) WOULD have voted and therefore they would have voted in favour of Mather, but...

If they had switched sides the vote would have been 752 + 115 = 867m Against (51.5%) and...

815m For. (48.5%)..

Blackrock has 47.8 TRILLION Funds under Management...

It may well be that they, together with the independent Directors have given Nick the hard word...sort it sonny or you're out...

https://uk.reuters.com/article/jiangxi-copper-fund/jiangxi-copper-targets-investors-with-300-mln-global-mining-fund-idUSL3N1B51PA

"Jiangxi Copper Co Ltd said on Wednesday it has set up a Cayman Islands-based fund that will buy mining projects as the Chinese state-owned copper producer sets its eyes on potential bargains as the commodities cycle bottoms.

Jiangxi didn’t identify what projects it was targeting, but said the fund will capture opportunities arising from low metals prices.

Eventually Jiangxi Copper may participate in operating and investing... but they may ask the (private equity) fund to just flip it.

However, Jiangxi’s fund could have greater capacity to develop projects since it is a major producer as well as a stakeholder offering operational know-how and could pay for the offtake, said Lau.

Jiangxi Copper sources only 20 percent of its supply from its own mines. It has said its next step will be to focus on international acquisitions and Lau said the fund will help Jiangxi bolster its international M&A experience."

"Valuestone is an international private equity fund manager dedicated to mining and natural resources investment."

"Valuestone’s team looks to apply its technical skills and rich business experience, together with advantageous resources from our strategic partners, to provide unique value-added services to the investee, thus realizing value appreciation and creating long-term returns.

As a financial investor, Valuestone generally does not participate in the operation of the investee companies. Instead we share capital, technical resources and networks with the investee’s management team, supporting them in our unique way. "

"Sponsor of Valuestone Global Resources Fund I: Jiangxi Copper Corporation

- China’s largest copper producer with mining, smelting, processing and comprehensive manufacturing"

"CCB International Asset Management Ltd

- Subsidiary of China Construction Bank with net asset over RMB 1 trillion.

Business includes comprehensive investment services that offers a full range of products and services including sponsoring and underwriting, financial advisory, corporate mergers andacquisitions and restructuring, additional issuance and placement of shares and refinancing for listed companies, direct investment, asset management, securities brokerage, market research, investment consultancy, etc.

- Rich experience in international capital markets.

- Fund Support: providing structural financing support and investment banking services."

Valuestone's 'parent' has plenty of major mining experience....

I'm a relative newbie here...having made money out of SOLG and ATYM I was casting around for another prospective Tier 1 copper play and was lucky enough to get in at c1.45p...

Its been interesting to watch this developing story...when you see what has happened at GGP one cannot help being excited here...

Obviously so much hinges on AA...

Having read many posts on here over the last couple of days, it seems simple to me...correct me if I'm wrong...

AA were in here years ago...they let things go...

Now they've returned....they've completed the technical work and are now doing due diligence...given that they seemingly already knew a lot about this from past history...and they've decided to return, in a developing global copper supply deficit...and they've already put in six months and decided to take up another six months...

I really cannot see why they wouldn't be nailed on to go ahead...

Of course the market hates uncertainty but AA would look really incompetent if they didn't move forward having returned and put so much into this...?

Which means the shares are seriously undervalued...?

Onwards and upwards...

SXX was bust otherwise...they couldn't raise the initial £500 million...

You make a very good point Scoutt....

NM must be worried to give such a conciliatory interview...

But there is a very simple solution for BHPA and NCM...BHP take up their options and both buy shares steadily in the market...that forces NMs hand and he gives them more equity...

Very bullish for SP IMO..

Tos...on the latest presentation its 6 years to production...

Don't understand Rchr...MCap was £9 million at the start of that chart and £774 million at the end...so how can the chart reflect MCap when the SP in 2007 was about where it was last October....

No...TVR adjusted SP.....(Total Voting Rights)....

Hi Lafitte...I've just realised the fundamental flaw in charting...

That Northstar chart seems at face value to show a clear picture suggesting we are near an all time price breakout at c45p, but....

You can't just plot the SP...why...?

If you look at the full Northstar chart, it dates back to late 2007 when there were only just over 44 million shares in issue...we are now at 2.084 billion...an increase of some 4,600%....or to put it another way, the MCap has gone from c£9 million to £774 million...

Even if you look at the channel from late 2016 to now, the number of shares in issue has increased by 46% and the MCap by c£150 million...

So to put it simply, unless the chart is adjusted for the number of shares in issue we are comparing apples with pears...

And that doesn't even take account of the fact that in real terms the SP has gone down by 36% since late 2009...

I would welcome your thoughts...

https://cleartax.in/g/terms/actuarial-service

"In the insurance and finance industries, actuaries use mathematical and statistical methods to evaluate the risk levels."

Where's the room for instinct and gut feel...?

Oh dear Quady...why do you have to be a conspiracy theorist to believe there is a bid coming...

Have you forgotten that Solgold posted this story on their OWN Twitter feed...?

https://www.mining-journal.com/m-amp-a/opinion/1399422/takeover-battle-for-solgold-is-‘about-to-begin’

So I've now had two totally inoffensive posts removed by the moderators...

This is nothing short of censorship...if it happens with this one I shall make a formal complaint to LSE.

So some of you guys can ramp GGP on the SOLG Board till the cows come home, but I post a constructive, well meaning suggestion on here and it gets removed, despite nt being remotely offensive and not breaking any of the LSE rules...

How can that happen...?

How can that happen when my post was constructive and not in the least offensive...

This is like a passage from George Orwell...people can ramp GGP on here till the cows come home but the reverse isn't allowed...

Does that mean that the owners/moderators of LSE have a vested interest in GGP...?

I am now officially leaving LSE for the foreseeable future...disgraceful...!