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OK addicknt, I get that, but still listed as institutional investors.
That was my whole point, when Citi came on board, to get more people invested.
I agree that holders of nominee accounts, will not always vote with NM, but we are increasing, II share, as opposed to PI's in ISA'a.
As I don't believe these are included, but quite prepared to be corrected.

Good afternoon addicknt, may I ask, why is that, do you have an updated list.

Just a brief update on institutional investors, they now own 12.14% of all Solgold shares, the diverse share register, is becoming more diverse, and I welcome this.
Will post link, just scroll down to the bottom.

https://markets.ft.com/data/equities/tearsheet/profile?s=SOLG:LSE

Hi Zoros, DGR own around 10% of Solgold shares, so are a potential takeover target, as they will not sell at any price.

Morning Scrat, if it involves a pencil, please tell it, as would be very apt this morning.

Agreed DBW.
I have been reading up about Moly and the Halo effect, ever since Pinot, posted the Steve Garwin presentation, explaining some of the technical terms, and also pointing out, how to read the pretty pictures.
I have watched it a few times now, and also have googled more presentations by other geologists, as find this stuff fascinating.
What I believe I have learnt, is that if you have sufficient Moly in your core samples, is that you keep on drilling, as this is a sign to find more copper.
Also understand a bit more on how outcropping works, and where they decide to drill.
I think I get the excitement at Porvenir, as from just one drill rig, we are going to start expanding the area very quickly and try to map out the region and hit the core earlier, rather than later.
All the best.

This article is one on FAQ's on can the Bod, overrule shareholders. It is UK related. It supports the American article, I posted earlier, the answer is yes, I suggest reading point ten.

https://www.lawdonut.co.uk/business/business-ownership-and-management/shareholder-and-boardroom-disputes/shareholder-and-boardroom-disputes-faqs

Morning Shipright, agreed.
However the share price is holding up, as I expect everyone is waiting for the PFS.

Good morning rcgl2, you are correct and I knew this, I am just not answering him, as all he does, is search for something on google and post it to support his argument.
The point is DartFrog summed this up better than me.
The BOD can reject any offer, as long as they can back up, that it's in the best interest of shareholders. ( hence appointment of Citi )
That is the same in UK law.
I posted this article, because it demonstrated, the role, that Citi could play in the defense of any bid, be it friendly or hostile.
Any bidder can go hostile, but don't expect the blessing of the BOD, if they feel it's undervalued. It can be rejected.
The article said no more and no less than that, and in the UK, the situation is the same.
If we receive any bid, I would expect Citi, to act in a way, as expressed in the article, and show the main shareholders, if the bid is worth entertaining.

Hi Miagi, I agree, it's a win win for Solgold.
If CGP, don't get their knockout bid, not sure they have any good options.

That is also my understanding DartFrog, this can be defended. The fact we haven't had any hostile bids up till now, I believe adds to the direction we are taking. We will get more announcements along the way, and should a hostile bid be tabled, then the older investors, will get their exit points, as in my opinion, they are not asking for much.

I don't know smickster.

Morning Jerry, hope is all well with you.
It helps to read the link, I posted at 8.55 this morning.
It says that even if a formal offer is made, and over 50% of shareholders tender their shares, that the BOD can block the bid.
I think addicknts point is then a EGM is called, then the 50%, can replace the Bod.
However, in the article, the bid is rejected, by the bank hired, in order to do a valuation and provide evidence, and that the bid is not in the best interest of shareholders.
So if Citi did a valuation, and we say came out at 4 pounds a share, and the bid was for one pound a share.
Would the main shareholders vote to replace the BOD, and sell their shares cheap.
I don't think so, it would depend on the gap in bid to valuation.

I agree addicknt, but by then, a proper valuation would be done, and an EGM would fail, if there was a large difference between the offer and what Solgold was worth.
As I have pointed out, it doesn't stop a hostile bid, but we both understand the problems that brings.

As I say Talatum, I am unsure, it's just the cases I posted below, are used in takeovers, as precedents, and so I guess have some value, to the arguments of formal offers.

That's the point Talatum. The BOD, has to act in the interest of all shareholders.
So I think what it is saying is say, we are offered 1 pound a share, and a valuation of the whole company, comes out at 4 pounds a share.
Then the bid can be blocked, and all the holders of Solgold shares, have a market place valuation on their holdings.
This makes a hostile bid more difficult.

I think so Talatum, I am unsure. I know that BOD's can reject formal offers, because I have seen it happen over the decades, that I have been investing. As a few posters, quoted rules, and pasted in regulations from searches on Google, disputing my point . I couldn't argue my point.
But as the BOD's first duty, is to its shareholders, then hiring a bank like Citi, means that a valuation of Solgold, can be Done at the point of the bid, and the bid can be rejected. This doesn't stop the bid happening, because they can go hostile. But that is unlikely, because of the diverse book, along with a valuation from Citi, would give the main stakeholders, a reasonable price for their holding.
That is the last thing any potential bidder wants.

Morning addicknt, as the article says, nearly three quarters of shareholders accepted the bid, but was blocked by the Bod, as the bank they had hired to defend against bids, rejected it as not good value for shareholder's. So even though over 50%, tendered their shares, the bid was blocked. I believe Citi, can demonstrate we are undervalued, and block bids.

Cities is meant to say Citi.

I have been reading up on formal offers. Here is story from some years ago, and could explain why Cities is able to defend any takeover bid. Constructive comments welcome.

https://www.nytimes.com/1996/10/06/business/when-boards-say-no-deal-to-holders.html