Member Info for mattlilly

RUBBISH!

Well done Quady for misleading this Board again...

The article you cited is in the New York Times and is specific to US companies.

Clearly you do not understand the UK Takeover code which, funnily enough I do, having appointed Goldman Sachs for bid defence of a major UK Financial institution and having prepared detailed bid defence strategies...

The fact is that while bid defences can be constructed that can make it hard for a prospective bidder, they cannot in law prevent it if it is the wish of the shareholders...

Here is your starting point for doing proper, relevant research...SOLG's Primary listing is in the UK and therefore they are governed by UL Corporate Law...

"3.1. Rule 21 UK takeover code
According to Rule 21.1, the board of directors of the target company is not allowed without prior shareholder approval to employ defenses that can frustrate the takeover
Isidora Tachmatzidi
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bid or deprive from the target shareholders their right to decide in relation to the merits of the bid. It is the ‘no frustration rule’ or ‘neutrality rule’ and is supported also, by General Principle 3 of the UK Takeover Code that states that target shareholders have the right to decide on the merits of a takeover offer. The triggering point for the adoption of defenses is when there is evidence to believe that a takeover offer is imminent or after the announcement of the bid."

"I think I've worked it out..."

I believe this is all a well constructed bud defence, which will either avert a bid or more likely ensure the highest price possible...

Nick made the bid for Cornerstone as a diversion tactic, knowing it wouldn't succeed, but buying him time right up to the BHP expiry date, so that he could have the maximum time possible to drill all four targets.

The last few RNSs have been timed and planned to get the SP up as far as possible before the expiry date.

Whether or not there is a bid immediately, Nick now has the ammunition to blitz the market and either get the maximum bid price or get the SP to a level where it makes suitors think twice. After all, look what happened to GGP in a short space of time with a fraction of the prospective news we have here.

The fact is, he doesn't have to RNS drill news that hasn't been independently assayed.

So he can release it to suit the necessary timing. My guess is Blanca and La Hueva first and or second. Then initial exciting news from Rio. Then the PFS and finally the blockbuster from Porvenir.

After that, if he hasn't had to suspend the SP because of a formal approach he can keep the drill news coming until he has 4 more Tier 1s.

And meanwhile BHP may not be the only suitor. Eg Barrick may be waiting to see what BHP does and how Newcrest reacts.

Buckle up guys...ready for lift off and the ride of your lives...

AIMHO as usual....

I believe this is all a well constructed bud defence, which will either avert a bid or more likely ensure the highest price possible...

Nick made the bid for Cornerstone as a diversion tactic, knowing it wouldn't succeed, but buying him time right up to the BHP expiry date, so that he could have the maximum time possible to drill all four targets.

The last few RNSs have been timed and planned to get the SP up as far as possible before the expiry date.

Whether or not there is a bid immediately, Nick now has the ammunition to blitz the market and either get the maximum bid price or get the SP to a level where it makes suitors think twice. After all, look what happened to GGP in a short space of time with a fraction of the prospective news we have here.

The fact is, he doesn't have to RNS drill news that hasn't been independently assayed.

So he can release it to suit the necessary timing. My guess is Blanca and La Hueva first and or second. Then initial exciting news from Rio. Then the PFS and finally the blockbuster from Porvenir.

After that, if he hasn't had to suspend the SP because of a formal approach he can keep the drill news coming until he has 4 more Tier 1s.

And meanwhile BHP may not be the only suitor. Eg Barrick may be waiting to see what BHP does and how Newcrest reacts.

Buckle up guys...ready for lift off and the ride of your lives...

AIMHO as usual....

this one is interesting too...and directly relevant to the debate...

https://www.visualcapitalist.com/u-s-money-supply-precious-metal-production-2020/

For every new ounce of gold minted, the Fed prints $4 million of money...scary...

Biggest Ponzi scheme in the history of the world...

Plagiarised from reddit...apologies, its less than two apparently...SOLG may have another one...?

How much gold that is is simple enough. 50 m (length) * 25 m (width) * 3 m (usual depth) * 2 (pools) * 19300 kg/m3 (density of gold) = 144 thousand tonnes.

(I used the solid density, the density of molten gold is a bit less).

How much gold has ever been mined is much more complicated to estimate, but the World Gold Council claims 187,200 tonnes. More than two swimming pools?

Well it's not so simple because the depth of Olympic pools can vary. London's is 3 metres, maybe some others are deeper, on the other hand they're allowed to be as shallow as 2 metres.

https://www.gold.org/about-gold/gold-supply/gold-mining/how-much-gold-has-been-mined

1000m and full of porphyry......

Totally agree stevie...

Big bus from 15.29 on....

275k, 107k, 105k, 100k, 100k, 100k, 120k....UT65137 at 37.85...

More later...

Nice one Rog...made me smile...have good one!

"I have got into too many arguments on this chatroom, and no one benefits...."

Hmm.....I wonder why...?

Glad to be of help sporty...my pompous friend doesn't get irony...and as for Roger Mellie, "the man on the telly"...(for all you VIZ fans)...

Seriously though, reflect on what I posted about the possibility of a $10,000 Gold Price...no I'm not predicting it, but I'm not interested in economic theory when gold is such an absorbing topic (all the gold in the world would only fill three Olympic size swimming pools...)

Take the time to read the book I linked, it will pique your interest in the prospects for Gold and keep you locked solid in SOLG...

Thanks for the response. Keep posting... Rougge.

You might want to read the book linked below.

Anyhow...on July 22 Cornerstone posted this news on their website:

July 22, 2020 20-19 - Cornerstone Intends to Requisition SolGold General Meeting to be held in late October 2020 to Replace Entire SolGold Board

They have to give 3 weeks notice and it is now Oct 15, so that's gone....

There is NO announcement about the SOLG bid, indeed no News since 30 September (PFS Update)

SP $6.04 on volume of 900 shares, so the market isn't taking anything seriously as far as CGP is concerned...

Meanwhile SOLG $0.66 up $0.02 at 38.6p equivalent...

All's well in the world of Mather...GLA

So what? The Gold price is not a science...I did Stats and Maths too, so find me any correlation between Gold and anything over the last 50 years...?

Except dollar weakness (coming soon); fear and panic (coming soon...buy VILX); rising inflation coupled with low interest rates (happening right now).

Amuse yourself sometime and start reading the sensible treatises on Gold price outlook.

In the meantime and because I respect your sincerity, read this book. It will open your eyes to what is really happening with global money. It is written by a highly credible author. And its FREE! I promise you will enjoy it with your background.

https://www.jstor.org/stable/j.ctt195sdt8

Willem Middelkoop (Geneva,1962), founder of the Commodity Discovery Fund and a bestselling author, who has been writing about the world's financial system since the early 2000s. Between 2001 and 2008 he was a market commentator for RTL television in the Netherlands and also appeared on CNBC[1]. He predicted the credit crisis in his first bestseller When the dollar falls in 2007[2]. His books are available in seven languages.

The Mining sector is down 2%; GLEN 4%; BHP 2%; Anto 1%; RIO 2%, but...

WE'RE UP ALMOST 2%!

And copper is solid...not sure why Gold isn't going up though...and why is the dollar strong with the awful Unemployment numbers...

Trump is toast IMHO...

Do you know Quady, you've just shown what an arrogant waste of time you can be...

First of all parading your qualifications...

So her goes...BSc Business Studies, specialising in Economics; FCA, FCIB, FCT, former Member London Stock Exchange...

So what...

Spoutin g that irrelevant economic theory is a complete waste of time...do you honestly think Trump is going to raise taxes or cut spending when he's hell bent on a stock market boom to make him and his rich friends richer...

The average US deficit in the past is 2.9%. In 2017 it was 3.5%; 2018 3.9%; 2019 4.5%. at $984 BILLION

This year it is already $3.16 Trillion and is increasing by $1 million every 80 seconds...so far this year it is already more than FIFTY per cent of total Fed Spending...

The US NATIONAL Debt is $27 TRILLION and is increasing by $1 million every 20 seconds...

Now do you honestly think your pathetic treatise on economics has the remotest bearing on the Gold price?

Get real man, for God's sake...

And no I'm not insulting you, I've just lost patience when you constantly set yourself up as an expert on nearly everything.

Greetings to all my fellow travellers...Gold is going North and I've got a total of over one "rock" riding on it (look it up...)

So...replying to both...

First I am NOT advocating a return to the Gold Standard...please read more carefully...the $10,000 price would be driven by demand alone...and still would;d not put it anywhere near an all time high in REAL terms...

Second, as an expert Quady, please offer your opinion on how the US can reduce its $7 TRILLION debt with inflation at 2%...

Oh and BTW you still didn't substantiate your earlier statement with facts...

Off out to play golf...

ATB to all...

"don't think that's a possibility." is an opinion on the question that sporty asked about gold hitting $10,000 an ounce.

If you look at his reply, he took it as advice...

"Thanks for replying Quady - it did seem outlandish - but wanted some sensible opinion "

Please substantiate your own off the cuff response "I wonder how much gold would be required"

The US de facto left the gold in 1976.

In 1960, while on the Gold Standard, the US has $19.4 BILLION of Gold Reserves, while the Fed Balance Sheet was $3.26 TRILLION...that's a gold backing of only 1:170...

Now I'm not an expert on gold and silver, but I know enough to offer an informed opinion and here it is...

Gold could easily reach $10,000 an ounce

In 1971 it would have taken only 0.2 ounces to buy the S&P Index price...today it takes 1.84 ounces...

If it returned to 0.2 ounces at the current S&P the Gold price would be $17,500 an ounce...

So is the S&P massively overvalued or is gold massively undervalued...?

And then there is silver...

And SOLG has oodles of both...makes the copper price tame in comparison...

AIMHO as usual...

Quady...I know you always say you are offering opinions, but please don't present yourself as an expert on gold when somebody may consider this as a possible investment decision...

I have researched gold in detail for 5 years or so and, as a result, have made almost as much from gold/silver investments as from copper...

Bloomberg is a highly credible reporting medium...I watch it every day...

When the UK and the US were last on the Gold Standard there was nowhere near parity in terms of gold backed security...

Global balance sheets continue to expand exponentially...US QE was never wound down...you cannot rule out an agreement between the world's leading central banks to simply 'topslice' debt, move to gold/silver backed currencies (after all the amount of physical gold backing the digital gold markets is about 3%...if all futures were taken to delivery the gold price would rocket..)

There Fed's balance sheet has increased by $3 TRILLION in just 7 months(75%) simply to support Wall Street and avoid the mother and father of all crashes...J P Morgan (who hold the FED's gold) have just been fined $920 MILLION for gold price manipulation, (which us 'gold bugs' have suspected for years)...

The Chairman of Franco Nevada was recently directly quoted as saying gold could reach $10,000 (and they are the biggest gold streamers in the world)

Many other sources take this idea seriously (would you challenge Rorbes as well as Bloomberg?)

Here is just one link...

https://www.forbes.com/sites/greatspeculations/2020/07/23/gold-is-within-striking-distance-of-its-all-time-high-heres-how-to-play-the-rally/

My portfolio has 45% SOLG, 10% ATYM, 10% FTSE100 and the rest is in Gold/Silver funds e.g. GPM and Blackrock Gold & General...

I respect your views on copper and you are regarded as an authority on here, but please stick to what you know...

ATB Rouge...