Member Info for Quady

Novice bravo made me laugh.

Novicehunter seriously, we were at 46 pence before the PFS without a buyout, of course we have no buyout.

Addicknt the argument you seek has been mentioned many times but you ignore it.
BHP have stated on more than one occasion that they will not overpay for any asset. They have tried to gain the lions share and failed. Our methods of defense have been successful. We will not get a bid from BHP or anyone else unless the book changes. It is just not in their planned expenditure.

Agreed Novicehunter, we are going to become a world class mining company.

Correct anon3

anon3 remember Slug has been 100% wrong on everything. he predicted an offer within 7 days after PFS.
That was his most recent error.

One of my points DartFrog, which forms part of our defense, as a company which wanted Solgold would be required to offer more than they wanted.
That's why I believe NM has done the equity deals with BHP and NCM in the way he has, as he always had his eye on the endgame.
Hence no controlling interests for any shareholder.

Serious question Addicknt .
How does the bid situation change once we have agreed finance to construct Alpala.

Addicknt I can answer that in two ways and have many times.

The first is BHP or anyone else will not overpay, and although I know you don't understand the Diverse book argument, it plays a huge part in more than one way.
BHP will not get an agreed takeover, because the interested parties will not sell out cheap, and they will not make a hostile takeover as that is more than they want to pay.
So BHP's only chance of a takeover at the price they want to pay, is to watch us proceed to production and watch us fail, so they can acquire us cheaply.

The second reason is our defense.
This happens in many stages.
We can issue equity as required, the cashbox issue showed that.
The diverse book, means that it is difficult, nay almost impossible for BHP to launch a bid with everyone's agreement, and pay the price they want.
Also the FN deal sent a very strong message and got us to this point, which said we can go it alone.

As you know I have never said we won't get a bid, but I see no evidence we will at the moment, unless changes happen in the statements I have made above.

Seanhunter that is just nonsense.
We know no bid is happening.
Also let's wait for the funding formula for Alpala.
The only thing we have been told is minimal dilution.
So please tell me why you think the company is incorrect on this and we get vast scale dilution.
Your post makes no sense, as equity will not form a large part, and any money will be borrowed in stages, and thus be part of our assets, which will increase the NAV as opposed to the NPV.
This will give us long term growth.

Another bit of nonsense from Redknight.
He says: Indeed, why would Darryl or especially Ayten join the company at a time when the market was rife with solid takeover stories unless they were richly compensated in that event.

The answer to that is they joined on a package that was mutually agreed.
This has nothing to do with a bid.
Remember just a few days ago people where saying this is because of a bid.
We now know it's nothing to do with a bid.
But people like Redknight twist facts so much that you end up with nonsense.

Sorry LunchMoney you are correct, I answered on the 4 articles. I just want a proper roadmap.
The good news is we are getting there. To be honest, I don't think enough PIs will vote, it will be the major block holders.

Morning LunchMoney, I have read your well reasoned argument.
However for me, I want to hear about the advanced build of Alpala.
I find resolution 4 to be short terminism.
The share price on this share goes up and comes down. For me it's the wrong metric. Let's have a system that rewards progress.
So for example, options that are exercisable on the journey of building Alpala, and makes the director's focus on its core business.

Well spoken BNC, we need a sensible way forward and the PI's hold the sway.

Agreed Addicknt I will also be voting against the motions.
I support the BOD, but to me this looks like a win win situation for the BOD no matter what the share price does.
I don't understand Redknight's earlier post as he puts in the relevant information and seems to ignore what he has said and support higher wages if they fail on the share price and a higher bonus with higher wages if they succeed on the share price.
That is not a proper incentive package for a company that doesn't earn any revenue at the current time.

Morning LunchMoney, minimal dilution was mentioned twice which I remember on presentations given by Ingo.
Also he has answered minimal dilution in the question session in the presentation that said we had a billion accounted for.
This was when the cost of building Alpala was 4.3 billion.
I cannot remember the presentations but It was widely discussed on this forum at the time.
Today we are in a much better place with costs lowered and a PFS with increased resources.

SharketMare do you not remember that Ingo, said some considerable time ago we had a billion lined up.
I really don't see a problem with the current direction.

Oh dear seanhunter.
Ok I am doing this from memory, so I may be out a bit but not much.
I brought in at 4.6 pence a share in 2013 when about 630 million shares in issue. It fell to under 1.5 pence. Those days are long gone.
Today around 2.2 billion at over 30 pence.
Strictly yes that's dilution, but you need to understand that we don't have any revenues yet, so further dilution to drill is necessary.
But here is the elephant in the room.
How much dilution to build Alpala. The company says minimal. I believe them.
I want to see the bulk of this funded by loans. And I believe what we have in the ground to be excellent collateral. Of course a portion will have to be put up. But again other ways to do this apart from massive dilution.

Agreed Mathers finger, without NM the company would now be 70% owned by BHP. He has defended us from dilution of the company overall. The Franco Nevada deal was for the right money at the right time and showed BHP, NCM and others that we are not dependent on anyone for funding Alpala.
We can become a producer.
Why else have we taken the route we have.
Surely even the diehards that believe a bid is coming can understand we can build this ourselves.
So unless we get a full offer, we are not interested.

Oh dear Zoros, what are you worried about.
You have always maintained that Solgold is bluffing and will never be advanced the money to construct Alpala.
If you are right we will be sold below market price. Which seems to be something you want.
However if the BOD is correct, we are going to build this.
As for dilution, you really don't understand what getting staged funding is all about, especially if we get an open pit starting position.