Member Info for schlemiel

shareholders are a tad annoyed at today's news

pre-open book

857k v 229k !!!!!

there's a 200k DMA buy order at 38p

Keeping 'the wife' happy is our only role in life

https://ceo.ca/cgp

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This is a great Canadian forum for CGP-SOLG discussion. There are some well informed posters on the site which isn't too surprising considering it's a TSX-Canada focused mining website

Would BHP make a bid for CGP to gain their 15% of ENSA (Cascabel). After all, CGP is a listed company. It seems an obvious route into increasing its direct exposure to Cascabel which BHP's SOLG shareholder status doesn't offer

'BHP will, for a period of two years, support the recommendations of the SolGold Board in respect of any shareholder approvals required in connection with any change of control transaction involving the Cascabel Project or SolGold, provided it is supported by an Independent Expert appointed by the SolGold Board and 60% of SolGold shareholders (disregarding BHP's shares) accept or approve the transaction.'

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Mather does indeed differentiate between Cascabel and SolGold in this clause of the agreement.

add - How does BHP get their hands on Cascabel (ENSA) rather than Solgold? That's what intrigues me

Moreover, why 2 years?

is now 203m. They're still allowed to buy up to 246.6m without Solgold consent. Why the limit of 246.6m? It seems a tad arbitrary

'BHP agrees to a standstill in respect of SolGold under certain circumstances for a period of two years and, subject to certain exceptions, cannot acquire further shares in SolGold above a threshold of 246,634,271 shares, without SolGold
consent.' (DGR Global release)

https://www.afr.com/business/mining/does-newcrest-need-a-megamerger-of-its-own-20181004-h167qu

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What happens if Newcrest does get taken over or it merges with another larger company? This article suggests it could happen to Newcrest

https://www.afr.com/business/mining/bhp-increases-stake-in-copper-explorer-solgold-20181015-h16oj4

I think Mather's playing BHP off against Newcrest

It's a private placement - no public offering 'but a sale of stocks, bonds, or securities directly to a private investor, rather than as part of a public offering.'

'BHP will own 11.2 per cent of Solgold after completion of a private placement, in a move that confirms BHP's strong interest in the Brisbane-based company, and increases the chances of a bidding war with rival miner Newcrest Mining.'

https://uk.advfn.com/cmn/fbb/thread.php3?id=24737415#firstpost

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'and increases the chances of a bidding war with rival miner Newcrest Mining.'

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I'm sure we'll get a clearer picture about the nature of this deal from other sources - SP Angel. Hannam. Redcloud.

It's almost as if SOLG will dictate the timing and price of its 'demise', if that makes sense.

It doesn't say BHP won't continue to buy more shares but it won't buy more without Mather's consent which allows Mather considerable leverage

BHP want Cascabel so how they do they take ownership of it? They're gonna need more than 10% of SOLG to do it.

It's almost as if SOLG hold all the cards and are dictating future events - BHP need ENSA. A 10% stake in SOLG doesn't give them that

Very exciting stuff for the next 6-12 months to see how this plays out

'BHP has agreed not to acquire further shares in SolGold for a period of two years without SolGold’s consent.'

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Very interesting.

Jerry

Great insights on the options debate -

So what's your assessment about what may be happening in relation to the options that are in the money and no doubt about to be exercised?

Irwin also in attendance -

"Solgold had a very good run, it has given back a lot of ground like a lot of other top-quality, junior resource stocks, but it is important to remember this is a tremendous discovery and it really is just the beginning, they have tremendous targets left to drill," said Warren Irwin, president of Rosseau Asset Management, which owns just over 3 per cent of Solgold.

From Feb-2018 (afr.com)

https://americas.minesandmoney.com/wp-content/uploads/sites/6/2018/10/3rd-Annual-Mines-and-Money-Americas-Toronto-agenda-1.pdf

Premium Mining spotlight: SolGold
Jason Ward, Country Manager, SolGold

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