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Great post Iceberg
redknight, I think we will break 40 p soon. The momentum is building. Once we get there I think an important barrier will have been passed. IMHO
Rcgl2, I think you raise a good question. I do not think it was a goodwill gesture. I tend to think it was a real offer. My view is that NM always has believed in the real value of Solg and that its value is not reflected in its share price. I recall that when the offer was peremptorily rejected by the CGP Board there was a press release by Solg which seemed genuinely annoyed and upset that the offer had not been taken on its merits. I recall that the complaint was made that the offer was rejected by the board when most of the shareholders would have been asleep. I think NM would have seen Solg as being undervalued for a very long time. But yours is a good question. Who really knows?
My guess is that if there is a takeover this year the price will have to be north of 100 pence and up to 2 pounds. That would be for everything. Although it is a guess it seems pretty obvious with the recent news that 50 p won't cut it in any way. I cannot believe that NM would have his sights set on a price that was not above 1 pound and that this would be obvious to BHP and Newcrest.
Obviously, if Quady is correct and this goes to production it will be a longer wait and a higher price.
I am also one of those who trusts NM to get the best result. His timing with the latest important RNSs (leaving aside today) has been great. BHP can't pounce on the 15th, unless they bid very high, because there will be important assay results pending. Given the disruptions that Covid have played in this I think NM's performance is turning out very well. The next barrier is 40 p and I don't think it is too far away. Good luck to all
Addicknt, I value your opinion as always. My guess, however, is that BHP would have had some informal discussions with Nick M about a takeover price over the last year or so. Even if BHP did not raise it, I would expect that NM would have made it clear that he had a bottom line or that he would keep on proving up the resource and heading to production. I admit this is just a guess. But from what I have heard of Nick's personality, he is not a shrinking violet and I can't see him not having made his expectations known at some level
Yesterday's volume was up considerably on the last many months. Today's volume is looking promising
Good post by Copperpot and Addicknt (and Quady). I agree with Copper that NM would want to see this go to production if his energy lasts that long. I think there would be a big money and a long wait in going to production. This is subject to one proviso; that it gets too much for BHP or another major or majors and they make an offer he can't refuse. I assume that BHP has already talked numbers with Nick for a takeover and they are not high enough. Until the number is high enough or a great offer comes in, he will keep going. With yesterday's RNS he has a serious basis to take this forward and no major can dismiss his claims that he is sitting upon potentially a number of Tier 1 resources. I think the share price will climb. It is just a question of how quickly and a question of us being patient.
that is genuinely amusing Zoros. I agree with you. Exciting times ahead I think
Shipright, I am hopeful we will. The volume is up relatively high already and this is very big news. There is a lot at stake now. Once the price settles over 30 p it can jump quickly from there
Morning Jerry, I think BHP have possibly outplayed by NM. My guess is that they were going to wait him out and hope the share price would slump when no bids were made by the time October 15 came around with no PFS. I expected that BHP would not move quickly after October 15 and leave everyone wondering. It was like a game of chicken. This is not good news for BHP as the value of the tenements collectively is now potentially huge. And every day will now increase the possibility of further big results. Other majors cannot afford to ignore this. We have also broken through the 30 p psychological barrier which is a great thing
Obviously enough one cannot decide to develop without a final feasibility. Not sure what point you are making
Agree 100% Copperpot
Hopefully this will stir the SP up today
I agree with your post Quady. I think, as many have said already, Cornerstone are acting out of desperation. BHP would not take them seriously. They would be the last people BHP would want involved in management. The only issue is that if some party like Newcrest is disenchanted enough with Nick Mather that it plays along with Cornerstone to give a fright to everyone. I doubt it. There is too much at stake
I have not been commenting on the board as there has been no news and there seem to be some blokes out there with a lot of spare time on their hands. Another webinar sounds like a filler to me in the absence of any real news. Hope I am wrong but it seems like more of the same space filling exercises
Agree with Addicknt completely on this point. BHP will have its strategy worked out. What is said on this BB is not relevant to that. Nick Mather is relevant
BNC
I don't agree with your criticism on this point. I don't think this demonstrates that most people are in favour of a quick sale. I am not. I want a sale at the right price and am prepared to be patient. God knows I have been patient to date.
I am not sure why you would think it was some kind of secret that most people would want to sell at the right price. I don't think any of this would come as a surprise to BHP or Newcrest.
I don't want a quick sale. I want a good sale.
Hi Zoros. I missed the ballot as I had not checked in for a while.
I believe Solgold will be taken over and NM will not take it to production.
I don't think people factor in a few things about Nick. His skill set is about exploring and extracting value. He is not a miner. He is not a young man. He has burnt a lot of drive and energy in the last 10 years on this project. He will be rightly considered a hero if he gets a great price for a buy out. That suits his own interests and that of private investors. Our biggest risk is that he loses interest in this process if it is drawn out too long. I think that is a low risk. He will keep driving at it and will sell out when the price is right
Cheers Copperpot
I am only interested in Solgold releasing great news, meaning not news that impresses private people like us who try to predict what NM will do. The only news that counts is the news that gets the attention of the majors like BHP and makes them realize they have to get this
Today’s news was not shooting the lights out. Time is becoming an issue. I am not being negative. I think I am realistic. I want the best for all of us private investors
I was hoping for something a little more exciting. It is just a combination of the long wait and the short time until October. Just saying