Member Info for mistermeister

Voted no

I am speculating about JPMs purchase. I wonder whether Franco is working. With them in some capacity. 5% of shares will cost £42m which is peanuts to FN. a blocking vote would buy more time so the buy back clause is not taken. This would be worth much more than £42m so a hedge if you like. Bid gets passed and they get at least the £42m back. Bid gets rejected and could force a higher bid or they own 5% of Solg…

Great points Rodney

Yep PS - agree.

Eloro - there is also this to consider:

The "Majority in Number" (Headcount) Hurdle

This is the second, often overlooked, hurdle. JCC must also win more than 50% of the individual shareholders who vote.

The Risk: In the UK, many retail investors hold small amounts of shares. Even if one large institution votes "Yes" with 200 million shares, they are outweighed in the headcount by two retail investors voting "No" with 1 share each.

This will not go for 28p even without a whiteknight. Perhaps there will be redknight and his missus buying for 60p :)

Rodney - 100% agree with yourpost

As per my understanding JCC are not allowed to vote hence they will need 75% of the shares to succeed.

There are 3,009,973,641 ordinary shares in issue.

JCC hold 367,216,784.

There fore the decision rests on 87.8% of the register so they will need 75% of 2,642,756,857 which is 1,980,743,291 to vote yes.

The LOIs account for 857,891,677 hence c 1.1b shares short - so in effect they only have 32.5% support of the register.

This is why I believe that the first deal has to be a sweetener - particularly as SP has dipped below offer price (market does not have confidence that the 28p bid will win). A sweetener may influence PIs/IIs to accept their position and fend off a white knight.

It is likely that JCC will be concerned about a white knight or BHP changing their position.

I'm expecting a first offer of 32/33p

Fort - my understanding is it is not possible to capital raise while in an offer period or takeover situation as it can be seen as frustrating the process.

Add - agree and would be great to get some sort of copper stream.

Profit, the cup and handle multi year pattern is playing out nicely and could well play out if another bidder steps in pre or post 26th Dec.

Mf. Not my position to say which way to vote. If they got a majority “no” then who would be there to replace them? BHP/NEM and JCC would no doubt have a say. In my mind that would give the big boys the power. At least we retain some for now.

A gamestop style motion would be great if we get the word out...

Am I correct in thinking that had we still been listed on TSE this transaction could / would have not been allowed? If I am correct, why did we delist as this would have been our greatest defence… either way will Maxit have an effect to sell shares to Chinese based on their location. Assume not as their shares are LSE listed but a question to ponder.

Quady and Add. I don’t agree. Why would FN be pushing at this point, when getting g a deal done will effectively half their royalty now. I think if it was 6 months down the line then I would agree…

I agree with Rodney.

Based on the earlier “offer RNS” from JCC two weeks back- the board issued it to the market without consent “ This announcement is being made without the consent of JCC”. Suggests that all was not too friendly at this time.

My view is they were being leant on and wanted to buy six months of time to get JCC to put a firm offer or not. . Subsequently, I think they must have been strong armed by JCC especially with BHP/NC accepting. They have a duty to shareholders to get the best deal. If this is the best deal they could get and JCC threatened to walk, then they have to put it forward and recommend it. More to play out I am sure.

Eloro I guess your email was from Warren. I wonder how privy he is to proceedings?

Add, I wonder if DGR will advise its shareholders to accept or reject the offer. What may be good for NM and Solgold (I believe he had to vote to accept being a board member) may not be good for DGR (it may be his line) at an attempt to block the transaction.

Separately - I note people on here have said they will not vote in favour at AGM. I will vote in favour for all except Scott. Last thing we need is a changed board at this point. I think there is more to play out.

DGR

So could DHR issue a Statement to reject the offer Add?

The RNS states the shareholders that support. Apologies if already pointed out but DGR is missing.

Nick Mather is there with 2.8% but why not DGR?

I suspect as a director NM has to be seen to vote - but more interesting was Addinckts post a few days back about DGR

DGR summary.8 Dec 2025 20:12

1) DGR has arranged access to a further A$1.5m.

2) The stated purpose is for working capital and explicitly, funds required to pay for the process of gaining shareholder approval under Rule 10.1 of the ASX listing rules.

3) Rule 10.1 relates specifically to the disposal of significant assets.

4) As defined by Rule 10.1 DGR has only one significant asset...its shareholding in Solg.

5) NM and related parties cannot vote.

What can we conclude from this announcement?”

SH approval is required from DGR - but why? To accept this bid? Surely DGR would simply issue a recommendation to accept rather than gain SH approval. I think there is more to this. Keep an eye on DGR

Big norks are good. Where is the kings head, PS?