Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Talatum, that is, in my opinion, a very humane comment you made. I have learned a lot from this board. I have been invested a long time with Solgold and sometimes the delays have been frustrating. I don't believe NM will take it to production. I think he will get the best value for private investors and himself and put his cue in the rack. Solgold has a history of being slow with news and announcements so I just hope people don't get too impatient if news does not come soon. It will be all right on the night. GLA
Cheers Copper. Will look out for it. Take care.
I think NM will be looking for well north of one pound given the effort he has devoted to this and the quality of the resource
Shipright, I emailed Karl to let him know the Board has my support
Dart Frog, that is an interesting post. I don't agree with your view that a takeover bid would start at the current share price. If a party is going to bid to buy BHP's shares they would be kidding if they thought BHP are going to be looking at 40 p (around what they paid) to be bought out of a Tier 1 project. If on the other hand, BHP makes a bid, then it will want control on its own or will seek to enter a JV with Newcrest. But in either case there is a lot of buying to be done before BHP gets control. If there is a bid the price will jump suddenly because there is no way that 27 p reflects true value for these shares. And BHP cannot presently control enough shares to take over cheaply in a hostile way. NM will only sell for full present value and BHP know that. The reason the share price is not moving is for a few reasons:
1. Everyone is waiting for the time in October when BHP is free to bid. It is like the "phoney war" in WW2 on the western front before Germany invaded France
2. We are waiting on the PFS and DFS. But number 1 is more important.
3. People are waiting news about exploration results on other tenements owned by Solgold. Whether they materialise before October remains to be seen. But if some great results came through they would move the sp
But I think people should not expect any dramatic increases in the SP before a takeover process begins. We are sitting quietly on the western front waiting for the war to begin
HI Copperpot. I don't want to distract debate from Solgold but hope you are well and I am trying to think of a secure way to get in contact with you. As for my beloved Brisbane Broncos, they are having their worst ever season. But it is interesting that because Queensland is essentially Covid free the two big football codes in Australia (rugby league and AFL) have moved their bases largely into Queensland. So the games are going ahead with most (not all) being played in Queensland. Some games being played in NSW, Sth Australia and Western Australia. It has been good for general morale that sport has kept going (soccer is the 3rd most popular winter sport in Australia). Anyway mate, we will work out a way to communicate off line. I will leave this BB to debate about Solgold
If anyone was silly enough to vote NM off the board they deserve everything they will get which is a slump in the share price. NM may well wash his hands of things if that happened
Say Share 7. that is a good post.
I agree completely with the view that private investors should vote to keep the current board. If NM gets voted off the board it would lower confidence in the project. I think people underestimate how much of this project is associated with his personal drive, presence on the board, and reputation.
While Cornerstone might want to seek an advantage for itself by spilling the board this is not in the interests of Solgold shareholders generally including BHP and Newcrest. BHP and Newcrest would not permit Cornerstone get its way of renegotiating its deal for its own benefit to the detriment of Solgold shareholders. BHP would not want to see Cornerstone being paid more than it is currently entitled to.
Cornerstone has backed its way into a corner and would be better off ceasing the confrontational tactics now. It seems that ego has got in the way. It would be better off doing a favourable deal and allowing Solgold's share price to rise which would be to the advantage of Cornerstone (through its ownership of shares in Solgold and through the takeover terms which it has been offered)
Schlemiel, my view is that NM will not take this to production but has to in the meantime proceed to a PFS and a DFS to avoid getting a low ball bid. If he gets a really good bid for Alpala I think he will sell and hopefully keep the balance tenements and prove them up. At his age and without experience of actually setting up an operating mine I don't see him taking on a task of this magnitude if he gets a very good offer
The article is materially incomplete and misleading by not mentioning Solgold's acquisition rights in relation to Cornersthone's 15% interest in Cascabel. That is what is actually driving the frantic posturing going on
Padmaster, votes are only carried on shows of hands if a poll is not triggered. The chairman of the meeting can call of a poll as can shareholders owning a certain percentage of the shares (not many). I am not sure what the percentage is under UK law where solgold is listed.
The attempt by Cornerstone to remove the whole board seems quite bizarre to me. It does not seem like a sophisticated move. If Nick Mather were to be voted off it would destroy shareholder value overnight as he is very much personally identified with the drive and ambition behind this project. Also, Nick would still own and control his shareholding.
What I would like some advice / assistance about is whether NM has the votes to prevent a hostile takeover. That will ultimately be the determinant of whether small private investors get properly rewarded on any takeover. I have assumed to date that Nick does have the numbers but I could be wrong. If anyone can assist with this question I would be grateful as it really is the only critical point that ensures that small investors get a great pay day. Good luck to all LTHs
I agree Qalibashi. Well said
Hopefully break through 25 p soon
Seems to be a mini-climb going on. I don't want to get carried away but it has been a while since the share was solidly in the 24 p range and today it is showing signs of keeping on an upward path. The volume is still small at 1.9 million but not bad. If we can get a bit of volume through the day and keep inching up it might be a great week
I also agree with Addicknt. I bought into Solgold 8 years ago. Have got a lot of pleasure from this board and feel like I know some of the posters even though I have never met any of them. I really think it is positive to see smallish investors from the UK and Australia and Ireland (my old mate Copperpot) and other places sharing information . I learn a lot by reading things here and appreciate it when the bickering stops. Am hoping today is the start of a climb out of the doldrums. But I have been disappointed many times before. I think we need a jolt like a takeover move to really move the share price but I hope it can climb steadily out of the 20p range before any takeover moves happens. Good luck to all. Thanks for those posting constructive thoughts and comments
If I had some spare cash I would also buy some more.
I see the offer for CGP as a no lose situation for Solgold at the present time which may explain why Citi is not involved; that is, NM may not really be that concerned if the offer fails. It will tend to focus the attention of CGP minority shareholders upon their precarious position. Just as Solg shareholders would start to be concerned if BHP one day took over CGP
Addicknt, I believe you are 100% correct on this point. Not for the first time I am in complete agreement with you. NM is an entrepeneurial discoverer whose skill set is in finding, proving up, and monetising tenements. He is also not a young man. I am not young either. But NM is older than I am. And too old to start competing with BHP at setting up and running mines. He is highly intelligent and very driven and single minded. He also has the right combination of brilliance, arrogance, unpredictability, and capacity to "rub people the wrong way". All of these are important qualities for a risk taking, intelligent entrepreneur. HIs aim will be to keep BHP worried about someone else getting control over Solgold or its tenements. I do not think there is a snowflake's chance in hell that he will take this to production. BHP and Newcrest have the capital to take deposits to production. But so do other companies who would be looking at Solgold. NM's aim will be to make BHP feel uncomfortable enough that they will pay a high price for Alpala. Part of this process is making them feel that he is unpredictable and can do "deals" that they do not like. Hence the Franco Nevada deal was an important "poke in the eye" for BHP and Newcrest and was in the best interests of small investors. I believe he is going about this process very well. He has to talk about going to "production" and funding production to let BHP think that there is a risk that someone like Franco Nevada, or some other major will get control. Nick Mather is very clever but he is not too clever to think he can single handedly take Solgold to production.
Thanks DBW
Thanks Iceberg. Good information. Very helpful.
Very positive to see this. Not sure what the RNS means for Blanca. I assume they will be drilling it as well
I think you would be spot on Byron Bay G. I can't see NM waiting around on this if a private charter plane could get in. It is too important