RE: Joint venture30 Aug 2020 09:31
Good morning addicknt and Colonel, I will try to answer both of you, as best I can. First addicknt, going to production is not my preferred outcome, I have stated this so many times. I believe we will go to production, because it is the most likely outcome, as NM will not sell cheap, so we continue on the path to production. On the army of advisers, again NM has stated, that bids will come, and low ball bids, will be defended. If we get, a take out bid, so be it, but will expand on why, I think this is highly unlikely. NM's age had nothing to do with it, he is the CEO of a public quoted company. CEO's come and go throughout the life of a company. On your point, that you say because something hasn't happened, doesn't mean it won't , is obvious, and I have never said that, or even alluded to it.
Colonel, your right, I didn't see that NCM and BHP would be added to the book. However, I did see that a significant premium would be paid. Practically everyone disagreed with me. I will now quote real evidence, some of what has been said, and some of statements and actions taken. No one up to now has bid for Solgold. BHP not allowed, and a bid releases them. But if no one is bidding, then they have their own reasons. No one is challenging Solgold for CGP, again BHP cannot, but just over 20% of Alpala, can be acquired, and it doesn't release BHP. Yes 400 million to cough up, but that and the price paid for CGP, gets them 20% of the prize. NCM will not sell its holding, it has clearly stated that, so inconceivable that it would sell for less than full value, who knows, they may even want a premium. The diverse book, makes this harder than you think, and is an important line of defence, against any bid. Anyone serious about owning Solgold, has to talk to the main Stakeholders, including NM, who through various stakes, represents 20% of the company. This is not as simple, as some make out. All the best.