Member Info for mattlilly

Hi Kohaku...funnily enough I did just that...as a one off and separate to my main holding, I bought 25,000 at 20p; sold at 42p and sent my son the profit for the 'forthcoming' baby...now she's here....and she's beautiful...cheers

Schlem's back...on ADVFN! Yippee...

Not as much as me becoming a Grandpa for the first time at 11am today...

Last seen on ADVFN on CCZ post at 22.25 on 15 November...

Gapped up on the off this AM...more to come tomorrow...chart looking very strong...can we bust previous All Time High of 46.50 this week...?

SOLG up 10.4% on TSX at 0.64...

CGP DOWN 2% at $5.70

Can sell 300,000 but only buy 50,000...

Porvenir RNS tomorrow...? Or even overnight on TSX...?

Can only buy 5,000 at 37.43...next stop 38...?

Thanks Quady

There we go....now can we break 37.5...?

37.05/37.45

37.4 to buy 100,000...was 200,000 just a moment ago...

Ready to break 37p...

36.7/36.95...

"The BHP deal has allowed SOLG to safely fulfil its ambition of a meaningful and speedy monitisation of Cascabel. This will allow SOLG to maintain a sizeable exposure to one of the most important copper projects of the 2020’s.

SOLG will have the capital to quickly progress some of its other potential Tier 1 assets.

There are a number of important share price power ups. The BHP deal is one. The MRE will be another, the PFS a third. Regional developments will be a forth and a partial sale of Cascabel the final, crowning glory. "

http://icebergshares.blogspot.com/2019/11/the-battle-for-sol-gold-in-ecuador.html

This is the nearest we get...

"Some hope BHP or Rio Tinto will bid for the whole of Solgold, but I believe they will bide their time and wait to cherry-pick while Solgold continues to pay for further exploration. "

https://masterinvestor.co.uk/equities/71007solgold-shares-have-stalled-heres-why/

https://www.mining-journal.com/m-amp-a/news/1373261/as-solgold-falls-concerns-about-low-ball-bid-rise

"Meanwhile, SolGold’s largest shareholders BHP, with just over 13.6% but subject to a standstill agreement that expires in mid-October, and Newcrest Mining holding just under 13.6%, are widely reported as potential acquirers of the business."

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

"If BHP wins its bids for both SolGold and ENAMI’s share of Llurimagua..."

https://theecologist.org/2020/sep/25/sanctuary-life-ecuador

https://www.ft.com/content/0437bc9f-ee67-4505-ab82-45b8f641ba88

Sorry...should read "would surely have to be in three figures..."

I still think BHP's involvement is more likely in a JV for Alpala, otherwise why the vacuum since the handcuffs came off...surely they're risking a flood of good news and a higher SP before any opening bid which others have suggested would have to be at least 50% above the SP based on past history...?

We can all get carried away with dreams of the ultimate SP. I've previously stated a minimum in the range 125/200p for the exit price depending on wider market circumstances and any degree of competition. That is for now and would increase the closer we get to DFS and then production...

Certainly getting through to production should see the price very much higher than now..

Crosby Capital offered $1.15, a 21% premium to Medusa Mining's 12 month low closing price on 18 Sept; the SP spiked to $1.05 but has since fallen back to $0.82...

Endeavour offered 126.27p (13% premium) in Dec 2019; the price spiked to 129p before CEY beat them off in Feb 2020

Recent history suggests a premium of 38-54%;

https://www.northernminer.com/stock-markets-investing/how-to-fish-for-profits-in-takeover-targets/1002463269/

However, in 2016, Seabridge Gold bought Snip Gold at a 115% premium to the 30-day VWAP;

In 2018, First Majestic took Primero over at a whopping 200% premium to the 20-day VWAP.

In 2017, Sandstorm Gold took over Mariana Resources at an 88% premium over the 20-day VWAP

Randgold shares rose 45% in the 2 months after Barrick announced their bid;

Goldcorp rose c60% by the time Newmont completed its acquisition.

One thing to note is that in several of these cases the SP appears to have been suppressed prior to the announcement of a bid.

So what to conclude:

1 That a likely bid now would come at no higher than 55p (the SP currently sits around the 20 day VWAP), unless

2 It is contested, or

3 In anticipation of a contest, it is a 'knockout bid' which would surely have to be in six figures...

So the question is, with at least two 'Tier 1s', how special is SOLG...? 200% only gives c100p...

AIMO as usual...

I hugely value your opinions zoros, but come on...a $5 million investment as a foothold for a bid...

Surely if they were serious it would have been $40 million (their maximum stake size) at a higher price...?

Some people have drawn attention to the apparent 'conditionality' of their investment. I don't accept that, but I do regard their involvement as very bullish and underrecognised by the market.

Even allowing for the parentage of Valuestone, there is no way an investment fund could dictate to a company the size of SOLG ($1bn plus), how they have to use an investment of $5 million...

Yes the RNS contains the following statement but I am in no doubt that this is Nick's decision, both as to how to use the funds but more specifically to announce such...that way he keeps the excitement going on Porvenir...

"The proceeds of the subscription will be used by the Corporation to advance the Company's 100% owned Porvenir Project located in southern Ecuador."

The facts below have been sourced from Valuestone's own website. Putting them together it seems clear that they see SOLG as a very attractive investment; I expect Valuestone would have liked an even bigger investment (their usual range is $10-40 million) and they will now have to gain that through the market. That is also a smart move by Nick because it puts steady upward pressure on the SP (see the last couple of days).

"As a financial investor, Valuestone generally does not participate in the operation of the investee companies."

My conclusion from the extracts below is very bullish:

1 The earliest they normally invest is BFS
2 Their minimum target deal size gives much more scope for investment
3 They see an early increase in value ("High intrinsic value with appreciation potential")
4 The clear possibility for Jiangxi and/or CCB to participate in the Funding package.

"Stage:
-Bankable Feasibility Study Stage
-Construction Stage
-Operational stage"

"Targets
- Deal size US$10-40 million
- Companies with high potential, short time-line to cash flow generation
- Listed or Private companies
- Well-defined reserve potential
- High intrinsic value with appreciation potential"

Jiangxi Copper Corporation

- Fund support: M&A, takeovers, comprehensive operational support to investee companies

CCB International Asset Management Ltd

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

AIMO as usual....

Very tight dealing spread...34.6/34.75...

The 219,9k CGP shares were BOUGHT at 2.30 in the afternoon Toronto time, 19.30 here...