Member Info for schlemiel

Without tempting fate, I believe SOLG is as close to a no-brainer as it is possible to get. Mather is the 'no-brainer' guarantee - the guy's just a deal-making machine of cunning and astuteness...BHP know they're not dealing with an idiot but a man who knows his stuff

I wonder if a takeover's already been agreed behind closed doors - a fait accompli, as it were and that BHP's simply stumping up the cash to allow SOLG to finance their activities. Why involve BHP staff when SOLG have all the exploration skills to do a better job? I believe a 'plan' exists that will eventually see control change from SOLG to BHP

Why didn't Newcrest for example not stump up any cash to finance further drilling? Were they excluded?

thanks ship - i was looking for that but couldn't find it

S77

Read this link :

https://download.sharescope.co.uk/doc/User_Guide/13_Level2.pdf

L2 is at its basic an order book for share buy and sell orders for both Market Makers and those with Direct Market Access (DMA) - ordinary plebs like me (small, private investors) can gain access that allows you to place ORDERS on the order book but it's expensive. The order book system is not a trading account with a retail broker ie (TDW, Sharecentre, AJ Bell etc etc)

I have never used the order-book because I don't need too but then I wouldn't anyway cos I'd mess up

But I do subscribe for Level 2 access which allows me to watch (watch is the operative word - like watching television!) Level 2. Having Level 2 access does not allow me to place orders, it simply allows me to watch L2

There are around 3 or 4 specialist brokers that provide DMA access to the order book but I think it costs around £1000+ per month...DMA allows you to act like a Market Maker and therefore you can place an order to buy off the bid and sell on the offer - it is the exact reverse of what we can do - sell on the bid and buy off the offer - it's simply a reversal

I'm an amateur at this and still learning myself but be aware that L2 does not provide a portal for reading the future..it merely allows you to see the process and can help in timing your buys and sells through your retail broker

We don't know mate. We just don't know but if they do start buying and competing for stock in the open market then I am sure they'll have to declare it and inform the market. I think the LSE threshold is 10% either way

It's much easier for BHP to approach SOLG shareholders off-market to secure stock. I can't see Mather diluting the company any more - I believe fund-raising is a thing of the past for SOLG. The next corporate event will be an asset sale of some form...i could be wrong.. we all have our own interpretation of what the future may bring

I agree. I think the 2 year agreement is an arbitrary figure plucked out of god knows where. Can you imagine if in 6 months time we unearth another stonking discovery? And then another! The price BHP or indeed another major would have to pay to secure SOLG would balloon.

I keep thinking about ;-

'scratching the surface' at Cascabel and
'more than one Cascabel'.......that keeps my head spinning!

we're going nowhere today

2 v 2 (15k v 425k)

another sell order at 41.5 of 418k with 200k at 42p - there's someone de-risking but then it could be a price-capper playing with the price to facilitate a buyer to reduce their average...god knows but at present you can write off today!

depth is

402k v 2.24m - bearish

touch -

3 v 6 (17.5k v 327k)

There's a massive 200k DMA sell order at 42p

We need to chomp through this sell order barrier before we move beyond 42p...

addi- I think the arrival of the majors in Ecuador has reduced somewhat the political risk. I suspect BHP and others have sought reassurances

If BHP are prepared to pay 45p for 100m shares based on information in the public domain and knowing we are only 'scratching the surface' at Cascabel then surely 45p is the absolute support for the price. If we believe BHP's ultimate aim is the takeover of SOLG rather than simply the purchase of ENSA then 45p is a bargain. With news to come, assuming it's positive (MRE2 and PEA) then BHP will be forced over time to pay more than 45p as SOLG's development and exploration efforts start to unearth its riches. It's surely a no-brainer from here. BHP's appearance (twice at premiums) now represents a green-light to buy and hold this stock until the offer comes in or until various liquidity events unfold...

I think I've found a stock I now own where I can sleep at night knowing that Mather and BHP will protect my investment

Tip Update: Buy at 40.3p

Tip style - SPECULATIVE
Risk rating - HIGH
Timescale - MEDIUM TERM

Our previous tip -We said BUY at 22.9p on 20 Feb 2018
Tip performance to date - +76%

By Alex Newman

A month on from its initial investment in SolGold (SOLG), mining giant BHP Billiton (BLT) has paid £45m for 100m shares in the Ecuador-focused copper-gold explorer, at a 30 per cent premium to the group’s 20-day volume weighted trading average.

The deal, which brings BHP’s holding to 11.2 per cent, gives the commodities giant the right to appoint a director to the explorer’s board and grants BHP anti-dilution rights for two years to ensure it has at least 10 per cent of the business. In turn, BHP has promised not to increase its holding above 247m shares (equivalent to 13.6 per cent of the business), unless it makes a full offer.

IC View

This deal essentially prevents BHP from going hostile, but it is not exempt from making a bid during the period, should it wish. The £72m it has so far committed to SolGold may be small beer to the mining giant, but it is worth noting that BHP spent just $165m (£125m) on minerals exploration last year. Another marker in the sand reaffirms our original call (22.9p, 22 Feb 2018), even at 40.4p.

Last IC View: Buy, 25p, 5 Sep 2018

end

That's a great article padmaster - thanks

Cascabel must be very, very special for a small company like SOLG to be able to dictate terms to BHP. BHP appear willing to subjugate themselves to the leverage of Mather in their desire to get hold of Cascabel and no doubt SOLG.

I believe once the main de-risking reports are in MRE2 and the PEA we may then see BHP become slightly more aggressive in their approach...CGP takeover?

https://download.sharescope.co.uk/doc/User_Guide/13_Level2.pdf

-

For anyone interested in Level-2 then this PDF from Sharescope provides an excellent insight

KB007 - Yes, another 43.5m to buy! The question is how will BHP get their hands on 43.5m shares?

UT : 161k at 42p

Does anyone really understand the relevance of the UT and what it may indicate?

Is 161k at 42p a sign of price strength - I know the UT is a match between best bid and best ask but it's a complicated balancing mechanism that restores a degree of order back to the order book...i don't understand its importance though

UT - Uncrossing trade

I honestly thought the price would fill the gap down to 38p but it looks strong with decent volume..encouraging

Will BHP hoover up the sells from the options exercises? Option holders trigger their options, buy the stock (shares issued by SOLG to the purchaser) who then pay SOLG and then sell the stock to 'someone' but who? Direct into the market through a designated broker or will BHP or whoever simply offer to buy them 'off market' below 45p?

I prefer Mirabeau which is my ADV-FN moniker

'SCRATCHED THE SURFACE OF CASCABEL'

'MULTI-DECADE MINING CAMP'

https://pbs.twimg.com/media/DptYA0BV4AEomw_.jpg:large

I agree. Group hug

Well, i'm holding for the big prize and If I do sell (due to any unforeseen financial calamities for eg) then I will inform the board

I've been in and out of SOLG for years but BHP's appearance on the register is a GAME CHANGER and an opportunity not to be missed

good fortune to all

BHP's (one of the world's largest miners) just upped their stake to 11% and some poster on here is concerned about a SOLG director not owning shares. Unreal. Use some common sense ffs!!!!!!! LOL