Member Info for mattlilly

Nah...up 9% at $0.72 (42.5) ...CGP down 1% at $6.00...

CGP opens down 1.5% at a new 3 week low of $5.96....meanwhile SOLG up 4.7% at a 17 month high....

So looks like the market expects the SOLG bid to fail and no apparent sign of any other suitor based on pathetic volume and a price drift...

AIMHO as usual...

The MMs may be bouncing this around, but I can still only buy 10,000 shares but I'm now bid for 500,000...

There is a huge unsaturated hunger out there...GGP holders maybe climbing onboard another multi bagger...?

Correction...I can buy 1,000 shares for 42.45 (full ask...)

Can't get any price to buy but now bid for 600,000 at 42.01...!!!

Great post Colonel, but why would Barrick wait until 15 October? Or anyone for that matter except BHP...?

Can't buy more than 20,000, but Bid 41.5 for 400,000...

And up we go....

NMS to buy is 40.89 cf Quote of 40.5/40.85...

Meanwhile I'm bid for 400,000 at 40.26...

This is much better than yesterday in terms of proximity of the Bid to the Quote...and Offering stock above the Ask for only 30,000, all suggests the MMs are seriously short of stock again...

Remember, even aT 16.27 yesterday I was only bid 39.75 for 400k but the UT 8 minutes later was 425k at 40.25...the high if the day...

Onwards and upwards...

SOLG up 5% at $0.67

CGP down $0.05 (1%) at $6.05...

How stupid do Irwin et al look now....?

2 million now...3.4 million bought...1.4 million sold...

So the EGM cannot be held before 29 October at the moment...this increments by one day every day...

* Cornerstone's original notice

Cornerstone intends to submit the formal requisition at an appropriate date that will ensure that the General Meeting will be held on or after October 27, 2020.

* Solgold Articles of Association

12.4 A general meeting shall be called by at least such minimum notice as is required or permitted by the Statutes. The period of notice shall be exclusive of the day on which it is given or deemed to be given and of the day on which the meeting is held.
12.5 Subject to the provisions of the Statutes, and notwithstanding that it is convened by shorter notice than that specified in Article 12.4. a general meeting shall be deemed to have been duly convened if it is so agreed:
12.5.1 in the case of an annual general meeting by all the members entitled to attend and vote at the meeting; and
12.5.2 in the case of any other meeting by a majority in number of the members having a right to attend and vote at the meeting being a majority together holding not less than 95 per cent in nominal value of the shares giving that right.

* Companies Act 2006

Where directors are required under Section 303 to call a general meeting, they must do so within 21 days. The meeting itself must be held not more than 28 days after the notice convening the meeting.

My Bad rcgl...coincidentally I just checked the CGP website and spotted the error.

Sorry guys and thanks RCGL...

Oops!

So who is financing the 2.25 million MMs short...or will they have to close above 39p today...or 40p...?

This doesn't stack up...based on figures from 20 minutes ago, the Market is short of 2.25 million shares....

CGP lined up to sell more in desperatIon...?

37.776

Re Brooke MacDonald and CGP holding...

Apologies its 6.4% (21.4% minus 15%)...

""After October 19th BHP will be free to talk to Cornerstone about our 21.4% interest and to join us in our efforts to create a SolGold board that will act in the best interest of all shareholders," said Macdonald."

Source: Witco summary:

https://www.kitco.com/news/2020-09-22/Cornerstone-Resources-looks-ahead-to-a-fall-trigger-event.html

Looks like its not working...I'm firmly bid for 400,000 shares again...

Well they've sold a load of shares they don't have and now they're taking it down to try a tree shake on recent buyers...

Will it work?

We'll know in the next few hours, but I say again, surely they must have somebody 'backstopping' this with a guaranteed sale no later than UT time...

Meanwhile a reminder that CGP have recently reduced their stake to 6.2%...now THAT'S rolling the dice...or do they desperately need the cashflow...CGP SP says its a lose/lose for them unless they know something we don't...

rcgl....CGP only have 6.2% now...ref the Brooke MacDoinald interview on 28 Sept...

ToS....I'm certain its COVID that has held up the drilling, together with the finalising of the Rio permits...

You can't blame NM for pouring out a torrent of news on anything or everything right now, because as I have said before, SOLG is a sitting duck right now...see my post on DGR below...is NM expecting an imminent bid approach (you don't pay Citi millions to sit on their hands..)

In which case you can't blame him for jacking the SP and throwing more jewels into the pot...

AIMHO as usual...