Member Info for rcgl2

Feel like this discussion is conflating two different scenarios. In the normal course of things, agreed the company can issue and allot shares to new holders which would dilute down the major shareholders. As iceberg says the resolutions give authority to issue new shares and disapply pre-emption rights. I agree with you here Quady, it could be used to keep parties at bay.

But I think in the context of a formal offer being made or about to be made, the takeover code would apply and company can't just frustrate it with share issuance.

Imagine if BHP offered £1 a share and you were keen to accept. Then NM says surprise, we've just issued 500m shares to a few other institutional holders so not only is the £1 a share off the table without you all having a chance to vote on it, but your existing shares are now significantly diluted. But don't worry, you're still on track for jam tomorrow.

Agreed addicknt, target company is not allowed to take action to frustrate a bid once it's been made and before shareholders have had a chance to accept or reject it.

Tell them that you want to exercise your vote for your shares at the Solgold AGM on 17 Dec and you want to vote in favour of all the resolutions as set out in the notice of meeting.

Quady you greeted me with a "morning" at 3pm the other day. I was wondering if you had secretly travelled to Ecuador with your shovel to begin digging at Alpala.

Hi Copperpot, regarding a deal I heard a briefing yesterday saying that chances of a deal may be higher than people think. Apparently the consequences for Ireland of no deal will be severe and the rest of the EU don't want to hang Ireland out to dry, but also don't want to have to put their hands in their pockets to provide support packages for Ireland in the event of no deal. Barnier is close to statutory retirement and he wants to get this done and not leave an unfinished legacy, apparently he's banging heads together in France and Germany to squeeze more concessions from the EU than people might have expected.

Just reporting what I heard, so not sure if correct or not. Personally I think it doesn't matter either way, markets just want certainty. We have a deal, fine. We have no deal, also fine let's move on from there.

Hi Scrat he's just saying that you need to lodge your voting instructions through your broker (Lloyds/Halifax) who will then pass them up the official channels.

As you hold your shares via Lloyds/Halifax, the shares will be registered in the name of Lloyds/Halifax's nominee entity in the register. The nominee is the legal owner, you are the beneficial owner. So you need to instruct the broker of your voting choice, so that the broker's nominee can pass the choice to the registrar. The registrar will collect all the voting choices of shareholders ahead of the AGM.

https://www.theaic.co.uk/aic/shareholder-voting-consumer-platforms

Although having said that, I don't know why they would be worried about 2) in light of yesterday's tweet specifically about Solg being a bid target...

Hard to know what Solg's day to day strategy is really...

The article is reporting on Bristow's comments that 1) there is a gold reserve crisis coming and 2) his solution to this is consolidation in the sector. I think Solg tweeted it because of 1), as it implies strong future gold prices, but didn't think of the implications of 2). Whoever tweeted it also didn't check the date to spot that it was from early October. Hence, removed it.

The article is about 6 weeks old as well...

MMs reading this thread decided to take Miagi's stops out just to annoy him : )

Thanks for the replies guys. In the absence of any fresh Solg news, much better to trade useful knowledge and insight rather than playground insults.

Just out of interest, when you say "every time the MMs try to knock the SP down", why do you think MMs are so keen to keep the price down? In fact I see this so often on various boards, this sentiment that it's somehow in the MMs interest to constantly suppress share prices... why? Maybe I'm being naive but MMs are there to make a market, irrespective of the actual share price, they make their profit on the spread. So provided they set their bid and ask accordingly in the current market, why should it matter to them if the SP is 30p or 50p?

In fact, if the SP is rising healthily, it would surely attract a lot more volume, which should allow them to make more money from more trading activity. Why would it be in MMs interest to constantly dampen the SP which in turn puts investors off and suppresses volume?

As Lafitte has pointed out several times, Solg is a quote driven market and not reliant solely on MMs. The SP is determined as much by direct participants as MMs no?

Feel like MMs is some sort of convenient bogey man that everyone constantly turns to in order to explain why the shares they've invested in haven't gone up in price. Whereas in reality it's the fact that buying isn't outnumbering selling that means a SP isn't rising.

Could the drop off in news be a combination of 1) the AGM is looming and they would rather save up some of the news to release it in a flurry and try to get the share price up heading into the AGM, just to be on the safe side, 2) the Alpala PFS is now delayed again, and having released the RNS saying it was nearly finished they've actually now had to really focus on getting it completed, maybe senior management are flat out getting that sorted rather than releasing more drilling results from other sites, and 3) they've been tied up with the CFP and also the recent subscription from Valuestone (it was small in size but still required a subscription agreement to be negotiated and the formalities of issuing and listing the new shares to be gone through).

Punit will be happy

We have had so many statements, tweets and webinars saying we are taking this to production... and yet the consensus view amongst pretty much everyone, including professionals, is that Solg will get taken over.

Therefore if you weighted each Solg statement, I would say the relative weighting of each "we are going to production" is fairly small, but the relative weighting of Solg retweeting an article that says "Solgold is about to be the subject of a takeover battle" is much higher.

Speaking of babies, Junior ISA allowance has gone up this year to £9k from just over £4k. Considering the politicians are always banging on about tax avoidance, it's amazing how much they are simultaneously encouraging us to perfectly legally avoid tax on through ISAs, at £20k per adult and £9k per child.

Having maxed out my kids JISAs each year so far, I am now wondering if I should have kept that money myself rather than letting them have full control of it when they turn 18... but if they spuff it all up the wall and then come back cap in hand when they want to buy a house, I might feel a bit more reasonable saying no.

Morning Quady. If I was a car manufacturer, I would probably be working on hydrogen fuel cell technology, because I'm not confident of the UK being able to build the necessary infrastructure to generate or supply the electricity required for millions more EVs in 10-15 years.

Having said that, I do hope governments just keep trying to deliver on their green infrastructure promises , as it is not only good for the planet but means massive demand for copper (and silver), which Solg has quite a lot of.

Congratulations!

I hope so, for his mental wellbeing.