Member Info for mattlilly

Surely there will be a holdings announcement from whoever's doing this in the next few days...or are they allowed to complete their full order before they have to notify SOLG...?

Same as yesterday...someone has sold a cartload of shares (c 10 million) in multiple bargains at 21.75 between 16.30 and 16.35...

Yesterday it was 5 million...

My guess has to be Cornerstone again, taking a wrecking ball to the SP, either to raise cash or more likely keep SOLG's price down for the share swap takeover...

Or could it actually be BHP putting them up to this...?

CEO of GM yesterday said their future strategy is 100% EV....

As I've previously posted...IMHO, major economies will kickstart by investing in infrastructure projects with a strong green emphasis...both France and Germany have already made statements (I believe France was 30 billion euros for green projects)...

Also I can't remember if I posted this from Goldmans this morning on here:

https://seekingalpha.com/news/3581727-goldman-sees-gold-maybe-pushing-through-2k?utm_medium=email&utm_source=seeking_alpha&mail_subject=jjctf-goldman-sees-gold-maybe-pushing-through-2k&utm_campaign=rta-stock-news&utm_content=link-3

But anyhow this is very bullish by the biggest metals trader in the world...

https://www.bloomberg.com/news/articles/2020-06-10/new-king-of-copper-trading-sees-demand-coming-back-even-stronger

https://seekingalpha.com/news/3581757-gundlach-sees-stocks-falling-gold-rising-despite-superman-powells-heavy-lifting?utm_medium=email&utm_source=seeking_alpha&mail_subject=jjctf-gundlach-sees-stocks-falling-gold-rising-despite-superman-powell-s-heavy-lifting&utm_campaign=rta-stock-news&utm_content=link-3

Aye copper....but for much of the afternoon I could have sold 40,000 at 137.21...

This is going only one way IMHO...

Great day!

So thats how they've kept the price down...

Somebody has sold c5 million shares at between 20.15 and 20.4 between 16.30 and 16.35 in 42 separate bargains ranging from 88k to 174k at a time with lots of repeat numbers...

Surely this has to be Cornerstone either or both raising cash or keeping the SOLG price down, either for a takeover, or on behalf of a SOLG predator...?

Any views welcome...

The 1 million trade has been reversed...playing games...?

Bought another 69,240 at 20.47...takes us to 925,000...

5 minutes ago I did a dummy sell for 400,000 at 20.33, so that million has to be a buy...?

How much longer can MMs hold this down...and who is supplying the stock in the background...? CGP? Surely placees wouldn't sell at a 5% loss...not even underwriters...

OK...two more tranches...53042 at 24.38...67044 at 24.66...

Now holding a total of 855,000 between us having added 230k at an average of c21 since Friday am...

GLA

$0.37/0.38...22p...so much for the big move....

Nick Mather has bought 1,116,279 shares through Samuel Property, taking them to 4.4%...

That's a substantial 'Director's Buy' personal commitment of £240,000...

No doubt DGR will have upped their stake as well...

What more does the market need...?

Onwards and upwards...

I agree with conquian...NM's track record is of building up companies and selling them off...IMHO he will take the money and move back to DGR for his next trick...

See my recent post on ADVFN (rougepierre)...

Zoros I think you'll find its a 6% dilution, not 0.5%...

10% not normally Pinot but 15% commonly in OZ and SOLG is Oz domiciled as well....read the article; its about Gina Reinhart mainly but makes a lot of general points...

You're absolutely right pinot as usual...but could explain why he didn't want them to participate, which would p*** off Newcrest especially...

BHP Billiton Holdings Ltd 14.70%
Newcrest International Pty Ltd 14.62%
DGR Global Ltd 10.61%
Cornerstone Capital Resources 8.54%
Tenstar Trading Limited 6.17%
BlackRock, Inc 5.52%

From the SOLG website...but even that isn't up to date as CGP are below 8% now...

15% or more: can apply to court to object to a variation of share class rights;

Has anybody else noticed that this issue takes both BHP and Newcrest below 15%?

While in the UK and Canada, holding 15% confers one specific right, it os not uncommon for a 15% holder to be offered a seat on the Board...

Indeed in Australia this could be said to be the normal expectation:

"Digby says a shareholder who owns 15 to 20 per cent or more of a listed company and who seeks representation on the board, usually approaches the chairman for board representation. Such discussions are typically behind closed doors and the board considers the shareholder’s intentions and what he or she offers the company and board. If convinced the shareholder’s long-term interests are aligned with other shareholders and that the candidate is suitable, the board will appoint the proposed director and endorse his or her election to shareholders at the next annual general meeting."

http://www.companydirectors.com.au/director-resource-centre/publications/company-director-magazine/2012-back-editions/september/feature-taking-a-shareholder-onboard

Both Newcrest and BHP are Oz based companies...

And if Newcrest (and BHP) are unhappy at the latest issue, or especially the Frtanco Nevada deal, would you really want them sat in the Board room during (and possibly objecting to) the detailed discussions and approval of the Financing deal?

Especially if they or anyone else has pretensions to make a bid...

Of course, having the £26 million will help us prove up four other prospects as well as Alpala, helping NM's attempt to make us 'bid proof', but I suspect like many others on here that NM has knowingly stirred up a hornets nest to either flush out BHP/Newcrest interest now or tempt others such as Barrick to enter the fray...

Finally, if it emerges that Barrick does have a stake, that could be an important component of the 'poison pill' bid defence...or would Barrick be the 'white knight'...?

Much to think about...