"to evade the point of an argument by caviling about words" - . Who else goes on about production and some might say tries to evade the point of an argument?
Seems like a parody to me...
I was just re-reading the company update RNS and wanted to get views on this line:
"Cornerstone Transaction
The Transaction is anticipated to close following customary regulatory approvals and a special meeting of Cornerstone shareholders to approve the Transaction. The Transaction provides SolGold with the opportunity to sell the 157.1 million SolGold shares held by Cornerstone to strategic investors before the closing of the Transaction."
There has been talk (on this BB boards) of Solg putting these shares into treasury, which may still happen - and presumably they could sell to a strategic investor at a later date. However the wording in the note states opportunity to sell to a strategic investor BEFORE the closing of the transaction. If this is the case, expect news this coming week...
Someone asked WI
“ Hi warren , can u elaborate please. This is not the best news weve heard and as holders for long time in solgold are pretty disapointed at the price , why the boom comment . What are you expecting to come from this ?”
His response
“ Think about the question you just asked me over in your head and figure out why this might be an extraordinarily positive event for us. This was step 2.9 in the 3 step process. What do you think the next step is?”
I have checked with Fawzi and response is as follows
“Thanks for your email. The 155m shares to Jiangxi Copper as announced today will be an issuance and are separate to the SOLG shares that Cornerstone holds.”
So the cornerstone shares may be used as a top up of shares, to who, is the question. if these were to be sold to Jiangxi also It would take their holding to nearly 13%. A bid precursor?
Do they not have some shares via Valuestone (their investment company)? Assume the two are linked
Nice
DBW, I am not sure a deal is in mind - else why sell a royalty last week?
As much as I like the CGP boys sticking it to BHP and I have been assuming a sale is on, what if this is all bravado? We saw Twigger call out BHP last year. I am wondering why, if they had a buyer lined up, they did a royalty deal soon beforehand. Makes no sense, which brings me on to (a) conclusion that this is merely to try and draw BHP out.
Also, if I was a potential buyer, I would not be pleased with their behaviour about BHP, I would wish for some more decorum. Maxit (in the Noront deal) made no noise..... so why now?
I hope I am wrong.
Surely it is in SOLG interest to get PFS2 out as it makes the JV/Sale more valuable.
Also keen to know why AS left, Red...
It's not like (m)any of the directors are still around now so its water under the bridge...
Can anyone copy paste the MJ article here please?
Anyone got access to the article?
Quady - correction on your post. It is royalty not off take. Offtakes will tend to be settled after dfs.
Add - understand the RNS - my feeling is was this done as a verbal deal in the background with NM and CGP,? We will never know although I suspect so.
Add - I see DCs departure as per of the deal - get SC in place before the merger is official. Not necessarily unhappy ship but part of the process of agreement between CGP and SOLG
How on earth a company is supposed to conduct a strategic review with no permanent CFO or CEO is beyond me- so agree with RK this has Nicks and CGP fingerprints over it.
What will happen I am not sure although my guess is the review is well advanced and the outcome is known.
Sorry posted wrong link use this one - relevant text "Unlike streaming agreements which contemplate the sale and purchase of precious metals, offtake deals are typically used in connection with base metals, which have a more complex and lengthy supply chain involving bulk transport and refining."
https://www.canadianminingjournal.com/featured-article/offtake-agreements-and-financing-mine-projects/#:~:text=Unlike%20streaming%20agreements%20which%20contemplate,involving%20bulk%20transport%20and%20refining.
Fort / SM - sorry to split hairs, but offtake and streaming are considered different. I spoke to IR some time back and they informed that BHP and others also do offtake deals and are not adverse to them. These are generally done after DFS (Such as Bolinden). They are more against royalty deals. Please see a good article...
https://seekingalpha.com/article/2561245-royalties-vs-streams
Q, which is why I said delete as applicable. Thanks for raising your view interested in all other views also. If they tested the market and it was not suitable (for BHP and NC). Why would this be suitable for BHP and NC? It wouldn’t.