RE: John Cornford - MI, new article28 Sep 2020 16:14
ToS, agree - if there is no RNS update tomo AM, then not sure what additional info they are going tobe able to provide since the last update only a couple of weeks ago...most of us aren't really interested in hearing more "imminents" - although note that NM did not use that word in his last webinar - he shifted instead to "in the not too distant future" or some such. That's the new imminent!
RE: John Cornford - MI, new article28 Sep 2020 12:37
We all have access to the same data in the public domain, which I assume is your point. However, the differences lie in whether or not we have firstly read and secondly understood all of the pertinent data.
Copperpot, your 5:00am post implies that single people are somehow less/failures and that it is wrong to be lonely. Although I am not single, I recognise that, while this is a fairly prevalent view, it is absolutely not the case. In fact, there are many people who are in relationships who are lonely too! Many people spend all of their lives running away from their shadow of loneliness, only to find when they stop running at the end of their lives, it is still their with them. It is to be understood and embraced, not shunned.
There are many lessons from the SXX story, among them: 1) Don't put all of your eggs in one basket as nothing is a certainty (especially a potash mine with humungous CAPEX). 2) Pay attention to a changing story - there was ample opportunity to exit SXX in the high teens when it became clear they were first having real difficulty raising the funds - at that point it became a high risk punt. 3) Investors have to take responsibility for themselves and their decisions.
rcgl2 - once the first bid comes in, whether it's at 40p, 60p or 80p, that will be the end of it. The process will have begun, there will be no going back, and all of the interested players will come out of the woodwork.
Hopefully this week will give us something new to chew on, so that we can change the record.
Now, Quady if I understand this correctly, from the many times you've stated it! You think that this is going to production because you don't think a bid is going to come in that will value the company sufficiently for NM to recommend it. And only Addicknt has so far proposed a logical argument for a takeover.
Earthling on the other hand believes it's much more likely that SOLG are going to be taken over, perhaps at less than "full value".
He talks about the SOLG offer in terms of other takeovers ($1.7/lb versus $7/lb), but he is either trying to deliberately mislead with this or he is genuinely ignorant. This is not a typical takeover, because the predator (SOLG) is a takeover target itself. He's living in cuckoo land if he thinks CGP are going to get paid $7/lb by SOLG and then enjoy a second $7/lb on their new SOLG shares a couple of months later! If it were BHP doing the buying then sure, the $7 applies, but they are not. So, why even mention it, as the argument does not hold water. Mentioning the price at which Maxit swapped is just desperate, as is mentioning the price BHP bought into SOLG. The only valuation statement of substance is when he says the current offer would see them holding 15% of Alpala versus he current 21% - against that reduction you have to weigh the reduction in financing risk, $55m odd debt wiped and an 8% increase in their ownership of the regionals - reasonably fair all in all.
RE: PFS delay after delay - What's the real reason?27 Sep 2020 11:24
We've got funding to BFS now via a major endorsement by a top royalty company. We have no worries about money for at least a year. Some said that the market had already assumed the FN deal was done and dusted, which is why it did not move the dial. Well, that's just the market being dumb. Until it was signed off, there remained material uncertainty and I would imagine that any sensible CEO would have been preserving cash up until that point (particularly re discretionary expenditure like the regionals for example). If BHP/Barrick come in with a bid in the next couple of months - great. If not, I am more than happy to wait and see how this plays out over the next year. There is so much to look forward to: regular regional drill results (we are an explorer once again), total conditional financing package (huge, and something the majors must fear), DFS (with hydroelectric power calcs considerably reducing opex), and the screws being turned on CGP with every month that passes - they are going to get more and more hysterical by the month.